long term money
so basically i have money in my bank and i don't know how to make it valuable in the long term like i don't want to invest in it, but i'm thinking about buying a house in my home country and of course later on i will sell it and of course i will win more than 100% in it or buy gold jewellery kinda for myself and keep it to myself and later on when i need the money i will sell and of course i will get more than 100% in it
but i'm not sure if this idea is going to work or not and i'm not sure if i can do it though?
but i'm not sure if this idea is going to work or not and i'm not sure if i can do it though?
Original post by shybutterfly
so basically i have money in my bank and i don't know how to make it valuable in the long term like i don't want to invest in it, but i'm thinking about buying a house in my home country and of course later on i will sell it and of course i will win more than 100% in it or buy gold jewellery kinda for myself and keep it to myself and later on when i need the money i will sell and of course i will get more than 100% in it
but i'm not sure if this idea is going to work or not and i'm not sure if i can do it though?
but i'm not sure if this idea is going to work or not and i'm not sure if i can do it though?
If you actually do want to buy a house in your "home country", then you should first read about the legal and tax issues associated with doing that.
Aside from that, your strategy does not make much sense at all. You seem to want your cash to avoid losing value over time to inflation. The main way to do that is to invest. Whilst investment carries risk, buying a house with the intention of later selling it for profit also carries risk. You need to assess the risk and make financial decisions based on your strategy and also how comfortable you feel with handling that risk.
Buying jewellery with the intention of later selling it for profit sounds ridiculous. You will probably sell it for what you originally paid or more likely sell it at a loss. To make a profit, you would need to have a deep knowledge in the industry as to what items have value. You would then need to have the financial resources to buy those items and then hope those items remain valuable over time. Again, this all carries risk and the whole idea - at least to me - sounds far riskier than just investing your cash.
If I am being honest here, you come across as extremely naïve. I think you need to read a lot of information on websites such as moneysavingexpert.
(edited 1 year ago)
Seek advice
Quick Reply
Related discussions
- Is there anything wrong about renting?
- Should I make a Stocks and Shares ISA now?
- Sheikh Jassim withdraws bid to buy Manchester United
- Interview for a temporary role, should I ask if it could turn permanent?
- My financial situation and personal relationship
- How to make a living as an A-level student with child visa.
- Would you let your gf have sex with another man…
- Overdraft Credit Score
- Achieving the Highest Growth in the G7 – Is it time to turbocharge our economy?
- savings accounts???
- Student Accommodation help
- What do you think of HS2 only going to Birmingham
- medicine vs engineering
- leaving / running from toxic family
- What degree should I take/ How do I make a lot of money
- Civil service recruitment freeze
- Question about student bank accounts
- Is it worth staying in halls for 2 days a week?
- Bath - Accomodation worries
- Should I give money to this man?
Latest
Trending
Last reply 1 week ago
I think I have a Cifas Marker on my name , can I still open any banks ?Last reply 3 weeks ago
Has anyone had their student finance paid into their partners or parents bank?Last reply 1 month ago
Introduction to UK Financial regulations and professional integrity SCAMTrending
Last reply 1 week ago
I think I have a Cifas Marker on my name , can I still open any banks ?Last reply 3 weeks ago
Has anyone had their student finance paid into their partners or parents bank?Last reply 1 month ago
Introduction to UK Financial regulations and professional integrity SCAM
