Investing Reserves

[ContractNewbie18]

prolly lost most of your profit in BTC transaction fees

sad face


do you guys dabble in crypto? my mates seem to be obsessing over ETH at the moment. Surely its all guess work.

[northernladuk]

sad face


do you guys dabble in crypto? my mates seem to be obsessing over ETH at the moment. Surely its all guess work.

It is but it's off topic but even if they did I think it's even less likely theyve done it through their LTDs. Someone linked you the crypto thread.

[TheGreenBastard]

Purely because I don't need to withdraw the money out *currently*. As mentioned I've had a hefty sum of money sat on 0% over the last few years due to risk appetite.

I get the retirement/ age advice - buts thats just personal situation. I'm 32. Currently single with no heirs. I don't plan to be in that situation in 20 years, but as mentioned I don't think I'll get even to 50s.

My horizon is medium - advice above is all about trying to shift a focus to long term. Why would i take on extra stress worrying about money for 20 years that I may never see.

I'm basically looking to grow money in the medium (ish) term with the next likely scenario to be to withdraw as much as chosen for a house so that any mortgage would be as small as possible (would ideally keep my current flat and rent out).

The above posts are all about flexibility - investing in the SIPP is the LEAST flexible option going?

In any disaster situation you can withdraw money from personal/company investments and pay increased tax/take any charges hit on investments.

I don't tend to work with people with similar personal circs - hence the post - most ex colleagues are 40/50s - lumping into a SIPP or with debt that means there reserves are all minimal.

I somewhat share your sentiment, but what has been said is good advice.

I personally have a stupid attraction to financial risk, so far it's served me well, but my luck could run out, I've leveraged Ltd. company proceeds like so:

1) Ltd. subsidiary for a wannabe BTL empire (trivial for your contracting Ltd. to provide financing for a BTL SPV)
2) Business investment account (stocks and shares, nothing silly e.g. leveraged trading)
3) Business "investment" crypto account - note this could be conceived as "absolutely bonkers" on the risk scale
4) A third of all business income is kept as easily accessible cash, for both tax and emergency reasons

Motivations:

1) I'm a rabid capitalist from the school of Adam Smith (but I'm a fair landlord)
2) & 3) A big part of this is for gratification, losing money being a wannabe trader is something that interests me and brings me personal pleasure

All of this is done whilst still contracting (sometimes running multiple contracts), and I also have a side project that brings in a decent amount each month, which has been somewhat stable.

My accountancy costs are slightly above the norm due to the complexity of my arrangements.