Money Making Schemes

Nagesh answers:

No. It would be like a casino. With bad odds, you’d lose more times than you win.

People who become millionaires in the markets use risk management and leverage for blue chip and larger growth stocks. You also need to learn technical analysis (reading stock charts) and fundamental analysis (analyzing the company) and watch the overall market FTSE 100 index to succeed.

For the UK and Ireland, you could try studying the stocks on the FTSE All-Share Index: http://uk.finance.yahoo.com/q/cp?s=%5EFTAS

UK stocks are measured in pence instead of pounds so don’t freak out if a stocks is quoted at 2000. It’s only 20 pounds.

There’s no hurry. The London Stock Exchange is always going to be there. Better to learn first and profit later than lose your 4000 pounds.

Nagesh answers:

I highly recommend you speak to the guys at Bristol Flying Centre. They do all ratings and all licenses. They will get you from nothing to ATPL quickly.

Www.b-f-c.co.uk

Nagesh answers:

Well you won’t be allowed to do any work in it for another year of course, but there’s lots you can do. Casinos are always looking for blackjack/poker dealers, and betting shops are always after more staff, if you show a bit of interest or initiative they’ll move you through the ranks quite quickly too!!

If you want to gamble professionally then that’s not really something anyone can advise you on, bar exchange betting and stuff and google is probably your friend there =p

I have to warn you though, I loved gambling, I loved horse racing, poker, roulette and all that stuff so I worked in a betting shop. The customers could be really friendly, and there was good banter but the job itself was horrible. The hours and days you have to work are bad enough, you’re only closed one day a year and you’re open until late. You’re encouraged to make your customers develop addictions and keep playing even when you know they’re suffering for it and the “GamCare” they have in place to protect people is an absolute farce. I saw people come in with money that they were supposed to be using to pay their mortgage, people leaving their kids outside for hours on end (and you can’t let them come in even if it’s raining because they’re not allowed on the site). You see some really really sad things, some illegal things and some scary things. I couldn’t get out of there fast enough. Please please really think about it and explore other options before you look for a career there.

Nagesh answers:

The trading companies pay tax on their profits. Each company will submit a profit and loss account and tax return based on its own trading activities.
The holding company will also pay tax on its profits – if it has any. Normally a holding company does not trade, all it does is hold the shares of other companies (hence it is called a holding company). As a shareholder, it will receive dividends from the companies it owns. Dividends paid from one UK company to another are not taxable. If that is its only “income” it will not have any tax to pay.

Nagesh answers:

Sending wire transfers internationally can be a harrowing experience, and alot of times there are no guarantees that your money will get to it’s target. Now, both the UK and USA are reasonably civilized countries, so that shouldn’t be an issue. You pretty much have mentioned already what the process is – his small bank sends the money to Barclay’s in the UK which will, in turn, send to what they call a ‘Corresponding US bank’ (many times Citibank, or other big NY bank), who will, in turn credit to the Federal Reserve bank in the district in which your bank is located. At that point, the Federal Reserve will send to a bigger bank with whom your bank does business, which will then credit the money to your bank, and into your account. Now, the problem is that some of these banks only process wire transfers at certain times of the day, so your money is actually waiting for somebody to approve it’s next step of the journey. Also, some of these banks will charge a processing fee, which will take a bite out of the funds that you will receive. I would say at the longest, it should take no longer than two days. If it hits the third day, have your fiance go to his bank and ask for them to trace the wire. The bank may put up some resistance, because it’s extra work, but they CAN do it. The trace will tell the received times and processing stations at each stop along the way. It may also show if the wire was sent with incorrect wiring instructions, such as a faulty account number or bank’s ABA number, etc.