passive income

what sources of passive income do you have? anything more exciting than bank interest?

NB I am excluding BTL income because landlording is actually hard work if you do it properly

Nowt.  Have sold my rental property (at long last).  Wondering what to do with the principal.

Gaaaaah - I am seriously worried about my perilous finances.

anyway, the only hope I have is that I win big on my premium bonds.

and I presently have bought tickets for Friday's Euromeeeelions and Saturday's lottery.

oh thanks for the reminder, jc! are you doing the weekly £10k one as well?

I am determined to create at least one source of passive income this yr. Doesn't have to be loads, just the principle of the thing.

any thoughts, badders? wish I had put my capital in a three year bond two years ago but at the time it seemed too long

Clerghers, I need this too - what are you thinking of? 

 

Obvs, my Plan A was to marry well, but without surgery, it's plainly not going to happen.

why would surgery help!?!?!?!

in any case I think no one works so hard as she who marries for money

Well, I have just upgraded to a NatWest Black account and they have a good savings account, so I will let it rest in there whilst I decide what to do.  I am loathe to invest in stocks and shares until Brexit is sorted out and we see which way the economic winds are blowing.  I can easily see another credit crunch brewing.  So I'm going to fix the mortgage on the marital home for five years as protection. 

I might stick twenty grand or so into a trading site I saw the other day, which uses smart algorithms to predict commodity markets movements and has made people a lot of money (there' a minimum investment of 2.5k), but you have to check out its bona fides and (more importantly) how much daily time it requires.

Am open to better suggestions (other than "give it to me", "blow it on gak/hookers" or "buy property").

intrigued re the trading site! do you mind sharing the name?

I recently doubled checked my premium bonds as there was a news article about loads being unclaimed due to people moving etc.

 

Still nothing, so I am going to sell them and shove the value against my student loan, its only a few hundred quid 

Just invest in a nice, diversified fund of shares with low charges.  Vanguard are the cheapest.  Fidelity are cheap and age a broad range of funds.  

You can choose a fund which focuses on income or one which focuses on capital growth.  Or one which focuses on shares in Turkish companies, or Indian companies, or oil companies, or telecoms companies.  As you please.  

Do it inside an ISA and it is all tax free.  

Presume you’ve already filled up your ISA stuff?

Nationwide flex current account gives you 5% on balances up to £2500 and you can have two.

Tesco bank account gives you 3% up to £3000.

Premium bonds work out average as 1.4% but it’s pretty meaningless as the minimum prize is £25 so you’re much more likely to lose than win however you do have an infinitesimal chance to win big.

Solids of gold are fun to collect, I have little gold bars that I buy and like to send to nieces and nephews as birthday gifts.  I also buy proper gold bars for myself.

Have a few very small shares which usually generate a very small dividend.  

And ofc property (sorry!) but I use a managing agent to take all the hassle out.

Tecco, where can a person buy little gold bars? (I am not a survivalist, I am a person with nieces and nephews)

Interest negligible.  Dividends from various individual shares and investment trusts all within an ISA 

There's place on the Strand where you can buy bullion in coin or bar form. 

Clergs, at the rec of I think the weird snake guy (nev's mate) years ago on here I went on to the fidelity ISA platform.  I picked funds fairly randomly and have a year on year return of around 13%.  it's obviously a punt and I probably have a better return off betfair (albeit for much smaller change).

I had an investment fund that was invested in a diversified portfolio and was also dabbling with peer to peer lending which was working out quite well and have a few shares.  Unfortunately I have now liquidated and spent everything on building but hopefully once I mortgage the completed building and get my VAT reclaim on the build costs I'll have some spare cash to invest again.

that is good, wang!

my stocks and shares isa is on about 6% for 18 months, not sure if this is good or bad

I signed up for peer to peer, saillers, then chickened out

Just bank interest, and whatever is accruing on my pension.

I know I'm not putting my money into efficient use, but:

- Most investments that I can make from within the UK are going to have nightmarish US tax complications under PFIC, etc., rules.

- I don't have a US residential address so no US brokers would deal with me for securities law purposes.

- I am subject to these conflict check, advance waiver, etc., internal procedures of my employer that are a bit of a headache.

Some colleagues have recommended that I open an account as a US expat in one of the Channel Islands, as apparently I can then overcome the second hurdle above. Sounds like too much work ...

yeah I would steer the heck away from that (but then am not rich and am super risk averse)

was wondering about non-finance sources tbh

sad sign of the times that financialisation occupies all our thoughts

where are the etsy impresarios?!

Can't remember the name of it, Clergs.  Will have to look it up and report back when I find it.

If you want to do peer 2 peer talk to chippy

Peer to peer stuff through Funding Circle was great and I was generating about 7% but they've now changed the way they work so you can't select who you to lend to as it seems that people were steering clear of some of the riskier propositions.

they do seem INSANELY well paid but I assume it means you have to be doing brand positive things at all times and if anyone ever photographed you blowing your nose or something you'd be out

I mean, that tequila guy who married pippa middleton whats what about

A famous mate (ok acquaintance) of mine is a brand ambassador for Ford and they pay her and give her a free car every six months.  Cow.

I'll get a chunk of passive income when my dad dies.

Peer to Peer llending would be rubbish

I say, Buckingham, could you lend me twenty pounds? One of the tenants on the estate hasn't paid his rent this month.

'Fraid not, Fairfax, I've just had an inheritance tax bill and the east wing has a got a leaky roof. I haven't a bean.

(c) Old Jokes Home.

Were u thinking of llewlyn of cadwallader when you did thd typo

Just be aware that if you buy gold bars then you have to pay CGT when you sell them for more.  If you hold them for 20+ years inflation will ensure that you sell them for more.  

However, if you buy British currency gold coins, which means gold sovereigns and gold Britannias, then they count as currency and there is no CGT to pay ever.  They are sold at a price determined by their gold value and the nominal currency value is irrelevant except for this CGT wheeze.  

This is an odd loophole and I'm not that keen on investing in gold as there is no annual return, but it is worth getting it right.  

Do not buy gold bars.  Buy gold sovs or Britannias.  

He is absolutely right, I just like gold bars and have little intention to sell anytime soon.

Is the gold bar sale monitoring section of HMRC particularly large and well resourced do we think?