Would you start a business or put your money in investments
October 15, 2007 9:23pm CST
In today's unpredictable business trend, where risk is greater than profit. would you rather put them in business, or in high yielding investment vehicles offered by finanacial services?
16 Nov 07
This is a very good question. Most people when opening a business will lose money, you have to be prepared to work long hours seven days a week and stay passionate about it even when things are going wrong. Even if it is successful, be prepared not to make a decent living for many years, you will probably earn less than doing a normal job. If you still believe in your business after all this you might have a chance of making it but it is very very hard work. I have admiration for people who take risks though and opening your own business is probably the biggest risk most people will take in their lives and we need risk takers to drive the economy forward. Investing can be really profitable if you do your research and listen to the right people. My suggestion would be to have a wide portfolio of investments so that you are spreading the risk. You could have very safe investments like high yield interest accounts or buy shares in major plc's so that you know they will be there for many many years and will pay a good dividend each year. When you have a few safe investments you could start to take a little more risk and maybe buy a house to let so that the people who rent the house from you are paying for your mortgage on the house and then you have the appreciation in value that house will make over the coming years. If you still want to then I would suggest taking a few more risks with the money you have remaining and invest in commodoties or shares. Over the last 3 years I have made 8 times the money that I invested from commodoties (mainly copper)but now I have stopped those investments as i think the prices are starting to cool. Do what you are comfortable with. The riskier the investment will probably mean higher rewards but will also mean a higher risk of losing all or part of your money. I suggest doing your own research and finding investment that you are 100% happy with and always ask questions how everything works and how they will be making money for you. Nothing is certain in this life but we all have to take risks if we want to get anywhere :) I hope this has helped. I hope that your final decisions make you enormous profits :) Take Care Daz