Should I invest?

[iHammmy]

Hello,

 

I am wondering whether or not I should buy some premium bonds.

 

For those who don't know what premium bonds is, it's a service run by the government that is like a lottery. You can put any amount of money over £100 ( the bigger the amount of money, the bigger the chance of winning ) and once the money is in, it's in. You cannot loose money and you can withdraw it at anytime. 

 

Me and my brother would be investing around £600 and keeping it in their most likely forever.

 

Each month the service gives out around £2million in winnings.

 

What should I do?

 

( P.S - I'm only 13 so I don't know what to do )

 

Thanks to anyone that can help,

 

- Harry

[Extingquish]

I have Irish ones, and I've won 75Eur in 14 years of having them

 

They're nice to have, just it might take a while to get back, if it works the same way as the Irish ones

 

As a bit of background, I think people have bought me well over 300eur of bonds

[lutewan]

well ah i think it would be better if u invested in something with interest

instead of a lottery

[Prastupok]

-snip-

 

You'd be better off setting up mutual fund investments. They generally pay off well in the long term.

[iHammmy]

well ah i think it would be better if u invested in something with interest

instead of a lottery

It's not really a lottery though, as you're not loosing anything.

 

And i'm abit too young to invest in real stocks

[Extingquish]

And i'm abit too young to invest in real stocks

 

You could try buying and selling currencies

[Trik'Stari]

invest in physical gold and or silver, paper currency is worthless and not trustworthy for a long term investment,

[lutewan]

It's not really a lottery though, as you're not loosing anything.

 

And i'm abit too young to invest in real stocks

im not talking about stocks

 

and it pretty much is

thanks for giveing me a 100 buck u can have it back at eny time

and i might give u something for letting me borrow your money

[Guest]

How can you have so much money? I'm 13 too...

[Prastupok]

invest in physical gold and or silver, paper currency is worthless and not trustworthy for a long term investment,

 

Then again, in the long term neither is gold.

[Trik'Stari]

Then again, in the long term neither is gold.

As a currency, it is better than representative currency (bonds) or Fiat currency (what you actually use as money today). As an actual, usable commodity that you can use to survive...not so much. In that case food, medicine, and ammunition is better lol

 

Although you could also include knowledge (local copy of wikipedia on a PC with solar power), tools, clothes, fuel, etc.

[PumaXCS]

Damn, so Fiat owns Chrysler and currency?

[iHammmy]

How can you have so much money? I'm 13 too...

Just save

[Prastupok]

Damn, so Fiat owns Chrysler and currency?

 

Then they try to dodge it when you come for the money, the jeepskates.

[Slash003]

It's not really a lottery though, as you're not loosing anything.

 

And i'm abit too young to invest in real stocks

Your never to young to invest in real stocks. I played stock market for half a year and thats how I afforded my computer

[Whorax]

Don't do that lottery stuff. Play the stock market, it'll be a more educational and likely profitable experience.

[Guest]

Just save

Great idea...

(Seriously, I never really thought of that.)

[Fred Castellum]

@iHammmy From a trader to a completely new trader, I'd suggest going with a ETF. 

 

If your actively scanning the market and reading technical's, then I suggest looking into buying either options or direct stock. Find a niche and expand your knowlegde on it, for me it was alternative power(mostly solar companies). 

 

Good luck mate!

 

Your never to young to invest in real stocks. I played stock market for half a year and thats how I afforded my computer

I built mine from a single day's gains, I think I wrote up a short story of that one here somewhere. 

 

You could try buying and selling currencies

Ahh FX Trading, that's a whole different ball game and more likely than not requires a decent amount of capital. 

 

You'd be better off setting up mutual fund investments. They generally pay off well in the long term.

I'd take ETFs over mutual funds and bonds any day. 

[Fred Castellum]

invest in physical gold and or silver, paper currency is worthless and not trustworthy for a long term investment,

Gold rises and falls depending on prices of other commodities such as oil. 

 

It's usually fairly predictable however your better off with money on hand and a bit of physical gold, so you have money to operate while gold in the back for back-up.

 

I'd be weary of stocks when all you got is £600. To begin with I think there's a minimum lot amount when trading in stocks? In that case you might need a larger sum to even get in.

 

And then the good stocks are all expensive, leaving you with the less reputable ones that might lose you money.

 

Maybe look into odd lots (if available) for stock indices which are safer.

It depends on what brokerage you do for trading, some require a deposit of a certain amount others don't. 

 

Their are tons of good stocks priced at good entry points(options are nice too), you just have to do a bit of searching. All stocks will make you lose money lol, like just about everything in life it all comes down to timing. Timing timing timing is what gets you gains or takes your capital. 

[Extingquish]

Ahh FX Trading, that's a whole different ball game and more likely than not requires a decent amount of capital. 

 

I get that, but with £600 you could easily make £30-40 in a relatively short amount of time if he invested in the Euro, considering it's pretty low at the minute, So it's a safe enough bet IMO, judging by the way it's recovered in the past

 

**Disclaimer: I haven't really ever done this, and all I've said is theoretical. All knowledge has come from my dad. **

[Sharp_3yE]

Hello,

I am wondering whether or not I should buy some premium bonds.

For those who don't know what premium bonds is, it's a service run by the government that is like a lottery. You can put any amount of money over £100 ( the bigger the amount of money, the bigger the chance of winning ) and once the money is in, it's in. You cannot loose money and you can withdraw it at anytime.

Me and my brother would be investing around £600 and keeping it in their most likely forever.

Each month the service gives out around £2million in winnings.

What should I do?

( P.S - I'm only 13 so I don't know what to do )

Thanks to anyone that can help,

- Harry

Investing in gold or silver is a good idea. There maybe some other things as well. Try contacting someone who is on investing.

[Guest]

Invest in me, I might be your friend for 600 dollars and normally you can't buy friendship so this is a bargain!

[Sharp_3yE]

Gold rises and falls depending on prices of other commodities such as oil.

It's usually fairly predictable however your better off with money on hand and a bit of physical gold, so you have money to operate while gold in the back for back-up.

It depends on what brokerage you do for trading, some require a deposit of a certain amount others don't.

Their are tons of good stocks priced at good entry points(options are nice too), you just have to do a bit of searching. All stocks will make you lose money lol, like just about everything in life it all comes down to timing. Timing timing timing is what gets you gains or takes your capital.

Everything rises and falls. The dollar rises and falls in how much it's worth. The point is to invest in something that even if your paper money falls your investment will still keep raising. Gold and Silver have been rising A LOT! Yes it fluctuates but while our paper money is actually becoming less worthy gold and silver keep rising in worth.

[MuffinTopMike]

I agree with @MyInnerFred exchanged traded funds are the best way to go with a limited amount of money. But although everyone here can give advice, if you jump on an investment without knowing what your investing in, then you are asking to lose money. Try to learn as much as you can about ETF's and financial markets as you can before you invest. To other saying invest in Forex, well it can take years to master FX trading, you need a lot of experience and starting capital.

[Fred Castellum]

Everything rises and falls. The dollar rises and falls in how much it's worth. The point is to invest in something that even if your paper money falls your investment will still keep raising. Gold and Silver have been rising A LOT! Yes it fluctuates but while our paper money is actually becoming less worthy gold and silver keep rising in worth.

I read somewhere that scientists managed to actually "make" gold but the process is more expensive than the result. It could be streamlined and made efficient but not anytime soon.

I prefer having gold and capital for actively trading.