Space is the only thing stopping me build the McAllister house, I think it undermines the āinvestmentā if I buy another one for me!
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Iām on the last 10% of building the Titanic - it was hard work, but a really impressive set. Will probably sell it for more than I paid for it once complete, as I did with the Colosseum last year.
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Send pics when done, It looks massive!
Will do. And yes, I still have it in 3 sections but when it clips together it is going to be huge!
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The problem with flowcharts like that. is that while it is probably the most efficient and risk free way to manage your money, I doubt most people would even get as far as buying their first share following that.
You donāt need to wait until you have all that in place before you start investing. As long as you donāt spend more than you can afford itās ok to start building a portfolio straight away IMO.
Building an emergency fund is boring 
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As much as I enjoy the thrill of stock picking itās the āboringā part of my portfolio ( passive ETFs / funds ) that have come up with the goods over time.
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True, but an emergency fund is the only thing that lets you capture the long term gains from equity by bridging the short term crashes and ensuring you donāt need to draw down early.
Itās all well and good having a long term mindset, but that doesnāt pay the bills. Iām sure loads of people in 2008 had every intention of holding their shares for the long term but after 6 months of no work had no choice but to sell.
I think The Flowchart is excellent, but itās just not so relevant to most people in the FT community, who are probably in a pretty privileged position and starting at step 7/8 (short/long term goals) already rather than worrying about refinancing debt.
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Thatās true, but flow charts like that basically say you shouldnāt even touch the stock market until you are financially bulletproof. I think thereās no harm in making a start straight away and getting a feel for it, just as long as you donāt pile all in on AMC or something
I appreciate all the insights people are giving on this topic.
I have attempted to share my exposure to certain risks by dabbling in different areas.
Do have my contingency funds etc and the occasional treats.
I do like to look towards the future at this stage in my life too and hopefully build something more for my children to help them in their own lifeās.
Buying my first BTL felt like a major punt but actually so far has been my safest option, but this could of gone horribly wrong.
I enjoy researching different areas and risk assess probably overly.
I find debts etc I have manageable and prefer to invest money as opposed to paying off my residential mortgage. As that money can be used to create greater gains than the interest rates at this time. Obviously mortgage rates could go sky high and I may regret this approachā¦
Well, you cannot easily get hold of your cask and have a sip, probably a good thing 
. It needs to be stored in a Scottish bonded warehouse while it matures. Some distilleries let you visit your cask and indeed try a little bit, and of course the taxman charges duty for the privilege.
From an investment point of view it is highly illiquid (pun intended)!
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I know people who are in the whiskey trading business and casks are no guarantee. You could end up with a complete dud thatās not really worth much. Whole bunch of people in the highlands and none of them do casks, they all get limited bottles preferably in person since theyāre difficult to get.
But itās so hands on that itās really only worth it as a hobby imo.
Whiskey is technically my most profitable asset, but the lowest volume of all of them.
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Bitcoin is definitely a lot risky. I would suggest investing in stocks and shares ISAs. It would give high returns considering the long term growth.
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I have investments in the usual pots eg. Property - ISA - Pension - Stocks - Crypto
I work in creative industries and my interest has led to a small but growing art collection (Rackham prints, Disney celluloids, Quentin Blake drawings). A year or so ago I pushed this interest further with MasterWorks.io
Itās still early days but they look like a great way to get some exposure to the fine art market.
Laymanās explanation:
Their algorithm buys art that has good growth potential - they list it on the stock exchange - you buy shares in the piece - When they sell it on (they take their cut) and the shareholders get paid.
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Your profile doesnāt accept messages - switch that on and I will send you the completed pics of Titanic
CGT Investment Trust is an option but obviously comes with risk
Outside of stocks, ETFs & Funds. I only hold Premium Bonds ā¦ 3 x Ā£25 wins in a row means a 0.19% return. Though it is nice to get a āYouāve Wonā email ā¦ But itās never enough to tell your boss your gonna quit!
I think it would be wiser for me to cash in and use the money on a fund or ETF.
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Yep, maybe, but like @weenie and myself, itās not an awful place to keep some emergency funds.
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My premium bonds havenāt won over past 12months. But only a small amount in there at mo really. Iām hoping to throw money into another BTL next few months then will start piling more into the premium bonds I think as helps with the rentals to leave the contingency funds in premium bonds. Easy access and maybe good return 
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Iāve won Ā£25 once in 40 years 
In effect they have lost god knows how much value to inflation. 
Granted it is not a fortune but it would have made an awful lot more money in just about any other investment.
I just canāt sell them as they were bought for me when I was born as an investment so feel I should keep in case they won big.
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I know people with max premium bonds who have won Ā£400 this year. Which sounds better than it is till you work out the %.
Houses have done well for me last two years with rising prices, being able to release more etc. But I suspect increases wonāt be as big over next two years.
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