im 28 and I just recently got married. My mom passed away a year ago, so me and my wife live with my dad for company support. i have a good sum of money saved up and we have been looking for a good house opportunity for the past year probably. Every time we find a good deal, someone grabs it with all out cash offer... so we keep waiting and keep looking. As we keep waiting and looking the dollar is falling and economy is getting worse... even tho our news tell us otherwise.

Im not sure what to do with my money currently, i would love to invest some into a house and have some on the side in case i loose my job and still have enough left for a year or so of payments.

i was thinking of maybe converting my money into euros? dollar is falling, wich makes euro more expensive in dollar amount. i was thinking about gold as well... but that seems like a bubble ready to burst.

are there any other options? no matter where i think to invest it seems like it will hit the fan no matter what... nothing seems stable now. what are you guys doing with your money and feel like its 100% safe for it to be there and it will keep its value?

share the wealth with the poorer member of ats
like me

Send it here! I need a small computer built by Nvidia to do some 3d animation... I only need $12 k, see and- *sees dirty looks* Kidding!

Gold, Silver, precious metals. Get coins, not bullion. Don't blab about what you have for obvious reasons.

Don't switch your money to euro's. Currency trading is very risky and even the professionals lose money as often as they make it. I also wouldn't invest in the stock market right now as this feels like a suckers rally to me. Gold may go higher, but keep in mind those who bought at the last top in the 1980's still haven't made their money back, and over the last 20 years an interest bearing checking account would have beat the return on gold.

My advice? Keep looking for a house there are many bargains out there, but unless you know a lot about construction don't buy out of foreclosure as those are "as is" sales. Alternatively You can look into TIPS (treasury inflation protection securities) or a simple Money Market account. Municipal or corporate Bonds might also be a good way to go. Bottom line find something safe, wait and see.

Like the above posters responded...pay off
all credit cards. Work toward becoming debt
free. Pay no interest if possible on all purchases
made. Then go to a Strip Club and have a great
time! Note: Taking the wife with you would be
optional!

Originally posted by NickT916
im 28 and I just recently got married. My mom passed away a year ago, so me and my wife live with my dad for company support. i have a good sum of money saved up and we have been looking for a good house opportunity for the past year probably. Every time we find a good deal, someone grabs it with all out cash offer... so we keep waiting and keep looking. As we keep waiting and looking the dollar is falling and economy is getting worse... even tho our news tell us otherwise.

Im not sure what to do with my money currently, i would love to invest some into a house and have some on the side in case i loose my job and still have enough left for a year or so of payments.

i was thinking of maybe converting my money into euros? dollar is falling, wich makes euro more expensive in dollar amount. i was thinking about gold as well... but that seems like a bubble ready to burst.

are there any other options? no matter where i think to invest it seems like it will hit the fan no matter what... nothing seems stable now. what are you guys doing with your money and feel like its 100% safe for it to be there and it will keep its value?

Nick:

Tough one. Being just married your wife is no doubt wanting some significant level of stability on the homefront before she will be willing to potentially entertain children?

GreenBicMan is quite right that you need some professional advice, but do remember that 99.99% of them always have an ulterior profit motive, so it's best to find a more neutral party like a trusted uncle (or whatever) that can put the whole personal picture into perspective for you. Namely, the HUGE and DECADES long committment associated with purchasing a first home, along with what that means to your new wife for stability purposes in her mind.

Some say real estate has always been a good long term investment. I call bull# on that one. Real estate is simply there to be used for your personal and family comfort. No more, not less. Just USE it within your means and get out of debt as quickly as you can.

Have humble expectations, it will pay off in the long run.

You also have to ask yourself whether you are likely to be stable homeowners for decades to come, or whether you will likely be moving around. If you are likely to be moving around a lot, and this is your first purchase, it can be a far more daunting task for the long run. Moving withing various regions has an enormous price impact - as it will on your potential debt level.

The only other comments I will make for you is that when a real estate sector turns, it is not a 1 or 2 or 3 year event. Real estate price movements are a multi year event, and sometimes a DECADES long event, once the bloom comes off the rose.

So just keep in mind that real estate prices rise and fall, but your debt level never changes.

Good luck out there and best wishes for a happy marriage.

The first real estate purchase is always the biggy - and the one your will wear - so don't be in any hurry in this market.





[edit on 11-12-2009 by leo123]

I would suggest what someone else said, and perhaps buy gold. Its (what i believe) doubling constantly, paper (us) will always fade...but if one thing that has always been consistent is; gold, diamonds,gems...
they always have had a REAL VALUE in the economic history.

I'd be afraid to buy land. I keep thinking the government will just seize it all later anyway.

A house while a good investment in the long run , is a liablity in the short term. If you must have a place to live other than your current sutuation consider a two family or mult family house. This is not always the most convenient and possibly not the right fit for your lifestyle but at least consider it. There is a rent check or two coming in every month to help pay the morgage and utilities. Research rental rates in the area . Do your homework.
Don't be afraid to ask people you trust if they would recomend a financial advisor they know.
The economy is in bad shape right now and people are right in saying to stay debt free.
If you decide to hold onto your cash try looking into an Everbank account.
You can hold cash in whatever currency you want very easily.
Holding gold and silver is cumbersome and the commisions can be high to buy the metals. Consider gold and silver mining companies instead . they can be bought and sold easily in an online account
Be sure to fully fund an IRA and 529 account each year for the tax savings.
Ask questions and double check anything people tell you.
If someone offers you a return that sounds too good to be true ask for a guarantee. His or her answer will tell you the level of trust they have in that investment.
When it comes to stock investing I stick to index funds. ETF's are less volatile than individual stocks and cheaper to own than mutual funds.You get a built in diversification of many companies with one transaction. Remember something like eighty percent of fund managers fail to beat the overall returns of the major indexes and they are pro's.

Good rec MOD. EverBank works well for currency diversification , and they provide great customer service. Another convenient option is opening an account with one of three specific Internet brokerages. Interactive Brokers allows me to log-on and change my base currency with a key-stroke , daily if I choose , or I can use their IDEAL platform to place a non-margined FOREX order. If the goal is diversification outside of the US , two other online brokerages provide this service; Saxo Bank London/Copenhagen , and Boom Securities Hong Kong.

If you're someone that prefers the "convenience" of owning precious metals in certificate form , ostensibly held in custody somewhere , by someone , EverBank also offers non-FDIC insured allocated & unallocated Gold/Silver pool accounts...ahem!...but I sure wouldn't recommend them. One of the weakest arguments against physical Gold ownership is storage and security. A twenty ounce tube of Gold Eagles stands under 3" tall , and an inch and a half wide. A million dollars fits in half a shoe box. With dose of common sense and a modicum of creativity , security options are numerous.

The premium paid on bullion purchases can usually be recouped by selective selling. Higher premium investment grade coins like GAE's bring premium prices on resale.

Edit Add: We buy Gold as a store of wealth. We buy Gold stocks to gain leverage against the POG. It follows that more leverage , implies more risk , and mining is risky business.

Most folks are advised to start conservatively with unhedged seniors.


[edit on 12-12-2009 by OBE1]