Recently, I got a job where a huge proportion of my salary is considered disposable to me (depending on the month, ranges from £300-£700). What do I do with the money? Should I invest in a savings account? I would do that but the interest rates are so insanely low that I see no point. I’m kind of looking for something that snowballs. As in as I increase the amount saved, I’d slowly start to generate a passive income, even if it’s like £10 per month. I also want to invest in actual companies that provide dividends to investors but I have no clue where to start. Is there anything else I can do that would help me grow the amount I currently hold? I thought of day trading but I think that's a dead end and way too risky. In terms of long term investments, I researched the S&P500 and REITs which both seem solid. I’ve always had an interest in real estate and plan on owning properties in the future, would now be a good time to start? All responses are appreciated.
PS. My original country of residence doesn’t impose taxes on income, however I’m temporarily residing in the UK for a few years on a student visa, do I have to worry about taxes still?
Submitted January 23, 2024 at 07:41PM by cryingkinkajou https://ift.tt/6DxKEWS
