What would you do assuming you didn’t need it for anything at the moment?
Stocks?
Start your own business?
Savings?
Tell me; give me some good sound advice.
Gator Killer.
He took the bait like a bonnethead on a day old crab…
2005 236 Sailfish
225 Yamaha 4-stroke
quote:
Originally posted by 23SailfishWhat would you do assuming you didn’t need it for anything at the moment?
Stocks?
Start your own business?
Savings?
Tell me; give me some good sound advice.
I’d pay down my house mortgage. That is the same thing as your mortgage interest rate’s return on investment which is better than anything you will get in the stock market until these problems clear up.
No house payment you say…then I’d pack it away in a good savings or MMA until things start to look better for this economy. Remember +3% is better than -20% any day! Just my $.02.
real estate, the price of small tracts of land outside the city that has some hunting woods/water has held up well on this downturn.finding good properties at the right buying price is tough some times but they are out there. I bought one 25 acre tract this week for $2000 per acre and the land for sale in the same area is consistently bringing $3500/4000 .The profit is made on the buy,not the sale,and you have to get out and talk to people. Never know when, got to be first and fast.
buy a nicer boat and take my mind off everything else. Certainly don’t want a boat loan now.
pay off any and all forms of debt.
If it’s a windfall, put it in an index fund and wait it out. This market presents a unique “buy” opportunity for those who can wait on a return. Whatever it loses (it could for awhile) is merely paper, whatever it eventually gains (and it will, probably in spades) can be turned into cash money (at least what’s left over after ObamaNation gets done) …
Take an Old Man Fishing Today!
What kind of business?
Chris Walton
aka The Tequila Monkey
www.ChrisWaltonRealEstate.com
Sit on it. There’s going to be some real deals in the next few months. I’ve already seen some ridiculous deals on CC boats, and some lake lots (it helps that Hartwell is down 14’). Anyone that can offer cash is going to have a great bargaining power.
Buy yourself a foreclosure and turn it into a rental property!
Mud Minnow Farm!!
quote:
Originally posted by calm like a bombMud Minnow Farm!!
Best idea yet!!
Gator Killer.
He took the bait like a bonnethead on a day old crab…
2005 236 Sailfish
225 Yamaha 4-stroke
quote:
Originally posted by 23SailfishWhat would you do assuming you didn’t need it for anything at the moment?
Stocks?
Start your own business?
Savings?
Tell me; give me some good sound advice.
Gator Killer.
He took the bait like a bonnethead on a day old crab…
2005 236 Sailfish
225 Yamaha 4-stroke
Goldman Sachs. Warren Buffet did not put 5 billion in there because he is stupid.
Help buy out Tommy Bowdens contract???
“No tail like Split Tail…”
Ok I changed my mind … BURY IT IN THE BACK YARD </font id=“size5”>
Chris Walton
aka The Tequila Monkey
www.ChrisWaltonRealEstate.com
Warren Buffet did not put 5 billion in there because he is stupid.
I don’t know, he piut $500 mil in USAir and lost his butt … 
Take an Old Man Fishing Today!
hmmmm…no Skinnee input…interesting…
Gator Killer.
He took the bait like a bonnethead on a day old crab…
2005 236 Sailfish
225 Yamaha 4-stroke
quote:
Originally posted by skinneejBuy yourself a foreclosure and turn it into a rental property!
best ive heard yet.
quote:I told you to buy a rental!!!
Originally posted by 23Sailfishhmmmm…no Skinnee input…interesting…
Maybe you were expecting a longer spiel from me…
quote:
Originally posted by skinneejquote:I told you to buy a rental!!!
Originally posted by 23Sailfishhmmmm…no Skinnee input…interesting…
Maybe you were expecting a longer spiel from me…
I was indeed. I want something easier than a rental property…that will create residual.
Gator Killer.
He took the bait like a bonnethead on a day old crab…
2005 236 Sailfish
225 Yamaha 4-stroke
You asked about starting a business. That’s what rental property is… And you mention residual! Isn’t that what the rent they pay you is??? It’s like getting a dividend each month. And the fact that you do it under an LLC means you can write off a lot of stuff.
PS, make sure you keep some of your cash in an “emergency fund”. I think that the new cool trend today is to open up an ING account online and get 3%+ on your savings. If you have any high interest credit cards, then paying them off with cash will be a good “investment”. Other than that. If you just had a flat 100K, I would seriously consider looking at a foreclosure. I’m just telling you what I would do if I had an extra. Not necessarily telling you what to do with your money.