Quick Tip - Rent Out Your Car
As someone who owns four cars - don’t ask, long story, three children - I was interested to hear
from someone who’s making money by renting out his car via a website called Whipcar at www.whipcar.co.uk.
Basically, he makes about £30 a day hiring it out via the site when it would otherwise be sitting on his driveway.
Check out the site.
In earlier bulletins we talked about stamps and how, if you want to
invest, you’d be well advised to take a look at the Stanley Gibbon’s index of the top 30 rare stamps. I’ve
since been asked about autographs and suggest that there’s an equally good index which tells you what’s what
in the world of autographs. Take a look here:
Now, I have quite a strong autograph portfolio myself – Ali, Laurel
and Hardy, Margaret Thatcher etc – and it’s a fun and profitable investment. Rule of thumb, I’d reckon it
rises in value by some 10 to 15 per cent a year. It’s well worth thinking about investing in these and a good
place to start finding out what’s what is back at Stanley Gibbons. Copy and paste this link for a free how-to
I’m a fan of traded endowment policies – choose wisely and you
can make a steady return on these. We have an article available on request. But you do need to be careful.
A friend of mine has just surrendered his and has banked £23,000 or so. Only problem is, he’s paid in more
than that. That’s partly due to low returns these days but also, and often overlooked, it’s as much to do
with high charges.
It’s something to bear in mind when you look at any investment
really. You’ll often be quoted a figure – 5 per cent return or whatever – but is that gross or net and
what are the charges that are being skimmed off? You may find someone is recommending an insurance company
investment bond instead of an investment trust. Why? Well it may have something to do with the up to 8 per
cent difference in commissions that are being paid. And you may be steered towards a higher-commission
sipp than a low-cost stakeholder pension.
I’ve had a phone call inviting me to a supperclub for investors in
London. The idea is that you go along to someone’s home, have a bite to eat, meet like-minded people, network
etc and then leave a donation for the meal. I’m told that this supperclub idea is ‘hot’ in London and that
it’s a good way to make money. I’m not convinced – it could also be a way of spending a lot of time and money
cooking and not recovering your profits. But one or two friends who know more about this sort of thing than I
do tell me it’s a useful earner.