I want to take a year off to run a business. I have £150,000 to invest and would like a monthly income to help pay the bills as I have a shortfall each month of approximately £1,000. Do you have any suggestions for the monthly investment please?
The first thing to do is to get independent financial advice as your wider personal and financial circumstances need to be taken into consideration before you do anything.
But obviously I want to give you an idea of what some of your options are. Some of the questions you need to ask yourself are:
- how long is your investment term? If it is just 1 year then investing anything other than cash is not advisable
- what is your attitude to invest risk?
- are you prepared to accept higher risk in pursuit of a higher potential return/income?
- how comfortable are you with the potential for loss of capital especially as you are already taking risk starting a business?