Investment for the unemployed?... I'm in limbo and seek advice

I know it was already suggested and you said you don't have the time but a business would be the best option for you right now if you can't find a suitable job.

You don't need to be putting in 12 hour days, even a few hours a day could be enough.

If you do want to have a go & you don't have any experience then you probably need to get some education but you don't have the time so reading up on the internet and researching should help.

A business plan will be the next thing you need to write up once you have the idea.

I know if I had 100k in the bank and I was unemployed then it would be put into good use right away.
 
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Some great advice here :)

Thanks Marg4000 especially for keeping it real ;)

Maybe i'll start off small ($10K) with some shares and see how it goes, build up a bit of confidence... to be honest i'm pretty risk averse by nature and the thought of watching my money disappear as the stocks plummet kind of irks me.

Just want to do something positive to get ahead whilst my career has stalled a bit.

Hi Sam,

Congrats on the baby.

I had a little spare cash in Super and threw it into the share market over 12mths ago. I dabbled and traded a while and then settled in for the long haul. It sure has paid off!:) The good thing is, there is still a way to go!


What ever you do, think about the LONG TERM options and advantages/disadvantages. If your mission is to buy more property, don't tie your money up in Managed Funds or Fixed Term Deposits for longer than 12 months. Especially if you can see a job on the horizon.:)

BTW, good luck with your job.

Regards JO
 
The risk with starting a business is that you won't bring in any income, but you aren't working right now, so the downside is reduced.

Plus it'll look an awful lot better on your CV for the next job if you're doing something constructive. Would-be employers like gaps between jobs to be explained.
 
Indeedy

...but i'm currently working on a casual basis at the place that laid me off. Like i said, i'm confident of gaining permanent employment soon-ish...

When that happens then i'm going straight in for IP1 :)

Until then, i think i may have decided to leave my money in the offset and sit it out... i'll think about shares when i have some 'spare' cash hanging around ;)
 
Hi,

I am new to this forum and just rambling through the posts and i came across this one and wanted to give my 2 cents.

I was in a similar situation (lost my job as a professional) and given the current tough employment situation i started exploring other income avenues and share trading appealed to me. I look through a number of trading courses to learn how to trade and the range was extraordinary from very sales driven to full diplomas....neither really appealed to me. I was then recommend a course written by Dave Limburg who had won CMC markets trading competition a year or so ago. It was very reasonably priced at $200 and extremely thorough and simple to understand for me (not having much experience in the stock market). I would highly recommend it to someone considering dabbling in the stock market (or looking to trade full time for that matter).

Good luck.
Luke
 
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