Found out today that I, along with several others will loose their job in Jan I will have about £5000 ($10,207 USD) to try and make a go of something. Any ideas will be greatly appreciated at this difficult time for me.
Not sure if u a gambling man at all, but it wont be to invest in actually gambling but along the lines of that area, i cant say if it works on not cause i aint tried it and still debating whether to or not i could post you there details and you can see for yourself, its UK based and they have an office number you can ring also
well for sure don't invest it all in one thing. I mean you can buy something going already, or start something yourself. You could definitely get something good for 2-3K USD, but keep in mind whatever you buy you will likly pay 12 times its monthly revenue. In otherwords if you spend 3K on something you can count on roughly that it will be making $250 USD per month. So unless you can live really really cheap then that won't do it. If you want to go with something online you could start something on your own. You could do a spring board site at first. Like proxies/image host etc. This will yeild you some immediate money, realatively easy. Proxy season will still be in full swing till May 2008. (save Christmas Break). So that would give you some good income now, and give you till may to get something else off the ground. Then once your soaring with another project you can sell your proxies, or just keep them as passive income. I made over $250 this week - $101 on Tuesday alone with my proxies. (few months of work to get that high) Even if you started making $250 a month with proxies, toss in an image host maybe in march, get it popular, then it will still go in the summer, and proxies will to, just not as strong as easily. That is some background income. You can even do that on the side while you work another job and work towards just working online. Anyway, you get the point, lots of options, be creative, and be smart. MAtt
Seriously, I would invest in something safe like buy a CD, bond, mutual fund, index fund, etc. Make sure it is something that you can get access too if you need to in case of emergency. Maybe leave like a 1k u.s. to 'play with' then look for a new job. I don't know what your situation is and if you have other people depending on you or not or what type of risk you are able to take but I would say play it safe...
Yeh im thinking the same thing but hey dont knock it till you try it. But seeing you cant offer to waste money its better you give it a miss, but on a serious note i think you should either sell on ebay or you could start a site, dont know what off i mean you got a good inital start up cost which could give you that extra edge
I would get the first job that you possibly can, deal with it, and until you get the job you want, carry on working. Use the £5,000 to live of for a while - won't last long, but better than risking it investing in some crap.
How about setting up a online store, selling online, invest the money in tangible items, i work at a british company in china which can help source products.
Thanks for all the good advice. Ebay is a good option, and I know people can make some god money from it, but it difficult to find a *product* that ebay hasn't already been flooded with. I am interested in the proxy niche, but again the web is flooded with them. Exporting goods from abroad sound like an interesting option, but it is finding a company you can trust to do business with. £5000 isn't a lot of money these days, and I have to think long and hard on how I can make this money work for me. As always your ideas/thoughts are appreciated.
What are you good at? What job are you leaving? What are your career aspirations. I think £5k is a good starting block for your own business!