Imagine you have some cash in hand at the moment, and there are 2 options for you to use the money wisely to generate more income. These two options are:
1) Put it into an investment (buy a share, invest in gold, buy unit trust funds, buy property, etc)
2) Start a small part time business
Which would you rather do, assuming that the small part time business can be a joint venture with someone where you just need to pump in the money rather than to run the business yourself?
Do click on the poll below and let’s see what majority of us have to say about our preferred way to put that money to work for us.
I want to learn the art of creating, managing and preserving wealth. It's not as easy as ABC but I believe it can be done well with lots of determination, discipline and perseverance. To date I've written 211 posts relating to money matters on this site.
Invest it. Once the investment is stable, then only go for the higher risk 2nd option. For me, I don’t easily trust people so if it was for running a biz, I rather run it myself.
There no such things as “safe” investment unless you start learn how to read business report and willing to spend time how they operate. Creative accounting can make the business looks profitable but actually opposite.
Wow, everyone of you chose to invest the money. According to the poll, majority agrees with you guys too, most people prefer to just invest it. I’m the opposite, but am quite stuck also because I just don’t know what business to do! Not surprised if at the end of the day, the spare cash will just go into investments and the idea of a business tossed out for some other time…
{ 7 comments… read them below or add one }
I’m not a risk taker. I voted for investment. Perhaps a good business plan can change my mind.
Invest it.
Once the investment is stable, then only go for the higher risk 2nd option. For me, I don’t easily trust people so if it was for running a biz, I rather run it myself.
invest it.
some ppl are natural when it comes to business, some aren’t.
no point taking such risks.
There no such things as “safe” investment unless you start learn how to read business report and willing to spend time how they operate. Creative accounting can make the business looks profitable but actually opposite.
Wow, everyone of you chose to invest the money. According to the poll, majority agrees with you guys too, most people prefer to just invest it. I’m the opposite, but am quite stuck also because I just don’t know what business to do! Not surprised if at the end of the day, the spare cash will just go into investments and the idea of a business tossed out for some other time…
i will take both to minimize risk.. LOL
Good thinking…