Plan B Suggestions

[lukemg]

Sounds like a good plan for all work XL - few achieve it for their main jobs but as a plan B it makes sense.
Problem is a limit of time, anything that requires your own skills or attendance has instant limits, you should aim to be still earning from plan B while you are asleep !

[XLMonkey]

...you should aim to be still earning from plan B while you are asleep !

Ah yes, the oldest profession, I was wondering when we'd come to that....

[swissmike]

That is good advice on investments Luke. Useful to check out an online compound interest calculator to see how much your money would grow at 12% a year. Nice.

Google AdSense is another way of making money passively. If you have a few websites with interesting content, well positioned in search engines etc.. then you can generate a steady stream of income 24x7 as people click through ads placed by Google on your site.

[shaunbhoy]

I can tell you, plan b's are not as easy as they look


Milan.

Not for you anyway benesy, a fact starkly borne out by the fact that even your Plan A involves nothing more complex and imaginative than changing backup tapes and ordering stationery.

[milanbenes]

alright Shaun,

better than your plan b, taking a permie job for the local council LOL

how's the chocolate snatch cottage ?

Milan.

[andy]

Got to get the market working for you instead of the other way round. Knock your 7k ISA allowance in shares each year. Spread it around various unit trusts investing across the globe at the big companies, fidelity, jupiter etc HTH

Good advice Luke
Could you suggest some unit trust names as it looks like there are millions of them. Thanks

[Paddy]

Anal Bleaching in your own home franchise.

“Right. That’s all done Mrs Jones. I’ll look you up again next month”

[tim123]

I've thought about selling tat on fleebay... how hard can it be?

Yes, How hard can it be?

I suspect that you've underestimated just how hard it really is. A niche where you can make 30 quid per transaction and sell 20 per week is going to be quite hard to find.

I've got 'collectable tat' in my garage where the book price is 20 quid per item. Yet when I look for same on ebay, I see a dozen other people selling with bids of 1.99. It ain't easy at all.

Selling for a fiver and making 50p per transaction is easy but you're not going to get rich on that.

tim

[NoddY]

Start a moneylending franchise.

[Euro-commuter]

I've got 'collectable tat' in my garage where the book price is 20 quid per item. Yet when I look for same on ebay, I see a dozen other people selling with bids of 1.99. It ain't easy at all.

No. Trouble with eBay is that it doesn't generate any more real collectors, just 12 times as many people who are bargain hunters. They don't really want your 20 quid collectable, but they'll take it for a 90% discount. So the large number of auctions and buyers on eBay is just noise.

Instead of looking on eBay to see if your item ever sold at your price, log on and keep an eye on completed auctions, checking out the proportion that didn't sell (and was that 0-bid or didn't-make-reserve?) and the full range of prices they did sell for. It's a revelation. I see a lot of stuff with say 1 at 20.00, 3 at 4.99, 6 at 1.99, 5 no bids and a couple of didn't make reserve. That's what happens to 20.00 items on eBay.

I'm thinking instead of selling 99p items for 50p plus 5.00 p&p.