What would be a smart thing to do with my money??

With the economy mumbo jumbo, with houses falling through the floor, dollar falling, our country going into further debt, and who knows whats next... what would be a smart thing to do with the money available?

I have my money with Wells fargo, they seems stable right now, if i pull out i can hide them under my matress but will this do any good? probably not, and with the dollar value going down im not sure what to do right now.

Lets say you have about $30,000 and all debt is paid off. I was thinking maybe investing in a house, but maybe i should wait some more? I was also thinking maybe buying a car with a good resell value and if dollar was to fall or currency was to change i can still resell and get most of my money back??

I was also thinking about investing in euro, but it seems as euro is not stable as well due to the world crisis. Invest in Gold? any other suggestions?

I will hold it for you ...lol ..

Personally I think we may be about to go RFID chips and just do numbers ..
So maybe the Federal banks are where your best bet would be ..lol but how can you trust them ?
Heck just give it all away and forget about it ...because it never really was yours anyway ..even the bible says ..render unto ceasars what is ceasars .
He was talking specifically about money ...notice he even asked his apostles who's face is on that coin ? they said Ceasars .....our money belongs to Ceasar too ...just hand it over to them I guess ...tell em you dont need it anymore your tired of their crap anyway ..
And then just go camping in Alaska with Palin ..heck at least you know for sure then you will be safe from the Russians with her in charge ...

reply to post by NickT916



My father made a killing on land.....Literally no maintainence. Except for taxes when u pay it off.

Send it to me for safe keeping. Its actually kinda sad when some random dude on the internet is a safer bet than the banks!


hehehehe....Sorry couldnt help myself.

reply to post by NickT916


How much we talking Nicvk? I could chime in if I knew it was very large or modest.

I have some land I have been trying to sale for a few years now .Its in Florida and its investment property ..but I am not so sure whats happening in that market ...things are so slow and so expensive everywhere .... its even priced good for where it is ...I think that now is a really bad time to buy land .but what do I know ...


[edit on 25-9-2008 by Simplynoone]

hmmmm

maybe spend half on some hot frisky swedish wife and have some fun for a few years before we are so deep in depression that most of our employment comes from gov't camps

take the other half and move to a small ocean side apt. in a nice scenic country (like costa rica) buy a property , rent it out, (which should pay your rent) and for your food and ya.... good stuff

or buy some guns (in case of lots of violence from those that go into survival mode from possible depression) ..........some silver (should the currency be depreciated into hyperinflation) ........and try to make some good connection in a job field that will benefit from very difficult economic times

$30-$40k i was thinking a house maybe... Here in CA houses are dropping and seems like a smart choice, or maybe put into stock since the $700 billion passed would that mean stocks will be going up?? but which stocks would the $700 billion actually boost up???

If another AWB appears imminent I'd load up on high-cap AR and AK mags. You can load up on them now cheap and if the previous ban was any indication you'll be able to sell them for ten times what you paid.

reply to post by NickT916


Well if WAMU sold out that would be a good bet to rise, especially since I( know the rescue bill will pass. The stock was trading at under $2 a share and sure to rise to around 27-32 after the bailout and takeover.

***The opinions espressed by me are solely my best guess on a speculative market. As with any investment, there are certain risks to include complete loss of investment.***

Take my advice at your own risk.

I wouldn't look at land or any property including houses. Property value can plummet as fast as stocks.

Any short term CD's will have zero to break even rates of return, taking inflation into account, you may even lose money.

As stupid as this sounds, I'd look at art.

Gold is very popular right now, but the price can fall as fast as it can rise.

My sister bought some industrial diamonds and these have a value. My brother is big on gold based stocks right now with dump orders in place at certain levels.

Come to New Zealand. Seriously. Not only would you gain about 30% on your money instantly due to currency conversion, you'd be coming to the least corrupt country on the planet.

It's so bad here that not only has one of our representatives lost his cabinet position (and looks to be fired completely), but his entire party is suffering...all for a single $70,000 (approximate after conversion) donation.

Originally posted by TH3ON3
reply to post by NickT916

 

How much we talking Nicvk? I could chime in if I knew it was very large or modest.

Obviously land values are dropping ... sooo ..

I invest in rental properties, slowly building a portfolio. Won't make you rich over night, but in 15 years and the mortgage is paid off by other people and all I have to do is deal with their crap every once in a great while, it's a solid investment to me. Not for everyone though, by all means.

If you really want to know what to do with your money, talk to a financial adviser, someone trained, perhaps a degree, nice reputable institution ...

Don't ask people on the internet.. they will only scream at you "buy gold and run away from banks we all is gunna die!!!"



Anyone who invests regularly knows the rules around telling other people what to invest in .. for those that don't.. simply put: Don't ever tell people what to invest in if you are not licensed, or have a background in advising on economics.

Much depends on how reliable your stream of income is, would you be able to add to your investments over time and how long that amount of money would last you.

My work is as an investment advisor and this is what I tell my clients. Keep at least one month of expenses in hard cash, preferably three at this juncture. Have at least another 3-5 months worth in the bank/cd's etc. I think these instruments will continue to be safe and fairly liquid. Alos put in bank and keep in cash any major expenditures expected in the next year. As you grow older try to slowly get to two years worth of cash and cd's.

Invest all the rest in equities or in bonds when high quality yields get over 6%. If you don't want to pay close attention then buy a diversified portfolio of mutual funds (5-8 in all). I would overweight the international and emerging markets at this point in time. If you want to pay closer attention then some of the allocation goes to individual stocks 20-40%. Individual stocks bring higher risk and higher rewards. We own very few at this time . I think the best plays going forward are those that are being allowed to buy up all these other firms for pennies on the dollar. That would be Bank of America, JP Morgan, and most likely Goldman Sachs. I would buy those and then buy puts on a financial index like XLF. Ive seen a bunch of folks cashing in their coins at the Supermarket lately so I imagine Coinstar would do pretty well in this enviroment.

Most stocks are really really hard to gauge at this point. Everything that matters to their near term future is up in the air. Bailout will have a huge positive effect if it happens as the system will get some breathing room. The elections will also have a huge effect on what happens going forward. An Obama win would make alternative energy/consumer stocks a great place to be. A McCain win would make defense/aerospace and loan sharks a good place to be. Know one knows how it will turn out, not me or any wall street guru.

Hope this helps.

Put together a profitable business.

Then tripple and up the money and keep it growing.

Start a bank or investment firm. Be sure to make plenty of "kickback" loans to your buddies and anyone who you think can't pay it back

Be sure to repackage those sweet loans as good investment packages by rating them A+ much higher than they are, and selling them to other companies as good investments.

Then buy as many houses and cars as possible, along with all the gold your personal vaults will hold. When your company can no longer meet the payroll or have enough cash to cover operating costs, just go knock on your favorite "rich uncles" door and get a few billion dollar loan so you can do it all over again.





[edit on 25-9-2008 by TH3ON3]

Now is precisely the time to invest in real estate. You do need to look for value, however. Precious metals are currently at an historic high, so that route is very risky. Stocks and bonds? Really? I sold all of mine a year ago (thankfully), and I have no plan to go back into the den of thieves that is Wall Street.

Buying real estate in a down market is the safest investment you can ever make. It's appreciation is predictable, it's minimum value is a substantial portion of it current value at any point in time, and they don't make it any more. Furthermore, now is the time to borrow heavily, if you can get someone to lend you money. Prices can go nowhere but up, and that means the dollars you pay back tomorrow will be cheap compared to the dollars you borrow today. Use the thirty grand as a down payment on a house. Just make sure to get a FIXED mortgage.

im thinking ill try and put 2-3k into AIG tuesday, after bail out takes effect monday (at least thats when i think it will take effect) im willing to loose a bit. But im seriously considering, propertly here around Sacramento area. I have been looking just nothing popped up that gets my attention.

Me and my girlfriend were actually thinking about moving to Europe somewhere, after married. Might be the smartest thing of all. By the end of the year my hope is to have about $90k saved up then it will be time to act.

As for monthly income, its a hit and miss sometimes. I have a full time job, but im in call 24/7 and im pretty low on the call list. but only with time i will move up

so it didnt pass, i didnt invest in AIG, but i did put a few Gs into a few different stocks. I dont knoa anything about stocks really, but i through id risk on monday after the bail out was rejected.

i would not buy a car, as the value of a car goes down from the moment you drive the first mile of that car. I guess however it is a great time to get some propriety - something like buy-to-let , however I guess 30 000 is not enough for that . If I would have that money I guess I would buy some construction land (land with persmission to build) in a country where the economy is expected to go up despite economical meltdown. In Europe we have Bulgaria , with expected economical growth of 6-7% next year