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Started By
Message
30 grand
Posted on 11/18/09 at 8:43 am
Posted on 11/18/09 at 8:43 am
My wife and I are meeting with an advisor this week, but I wanted to get other insight into our situation. We have about $30K that we could do without touching for a while. What could we do with this to generate a little money? What would be a wise investment? It doesn't have to be super safe, but I would like to avoid a great deal of risk. TIA.
4
Posted on 11/18/09 at 8:54 am to notslim99
plutonium is the new gold, brah
Posted on 11/18/09 at 9:24 am to notslim99
I can gurantee that the "advisor" is going to put it into some mutual funds that they peddle. You may want to take a look at some that they offer to have a background on them. That is what will be presented to you, I guarantee it.
Posted on 11/18/09 at 10:03 am to notslim99
quote:
We have about $30K that we could do without touching for a while. What could we do with this to generate a little money?
Taking risk with this scenario does not make sense. I don't know what "do without touching for a while" means. Months, 3 years, 7 years? What do you want to do with the money in the future? I am at my lowest equity allocation ever after selling out over the last 90-days. The stock market could be very risky now after an amazing run up...or not. Typically those that are late to the party are the first burned. Good luck.
Seriously, if you want the money back in a year or two I would look at CD's or online high yield insured money market funds.
Posted on 11/18/09 at 10:30 am to tirebiter
quote:
I would look at CD's or online high yield insured money market funds.
I was thinking along these lines. I'm hesitating on acquiring more hard assets (gold, investment property, etc.) I think we could reassess our situation in two to three years, so the money market idea is probably the best route. Hopefully, at that time, Mrs. notslim will be able to stay home.
Posted on 11/18/09 at 11:45 am to notslim99
quote:
Mrs. notslim will be able to stay home.
:prayerssent: and :fatass:
Posted on 11/18/09 at 5:42 pm to thelawisafterme
Since most C.D.'s and M.M. are paying pennies I believe still some nice value in Municipal Bonds although spreads have come down. That will generate you some tax free money.
Given your time frame (tier out your cash from a risk stand point) portion in the market - maybe a stock or two with good dividend - portion in Muni's - sliver taxable interest (CD/MM)
It sounds your not completely risk adverse so doesn't make much sense to settle for low or no return
Given your time frame (tier out your cash from a risk stand point) portion in the market - maybe a stock or two with good dividend - portion in Muni's - sliver taxable interest (CD/MM)
It sounds your not completely risk adverse so doesn't make much sense to settle for low or no return
Posted on 11/18/09 at 6:45 pm to notslim99
If you can qualify for it you are probably well-positioned for getting into real estate. Mortgages are still stupid cheap these days.
Posted on 11/19/09 at 5:55 am to foshizzle
A really stupid suggestion = real estate purchase when prices of re are nowhere near a bottom. Some RE pros are suggesting that residential real estate might bottom 90% down from peak in some areas. It already has in places such as Detroit. Municipalities/states are going to be jacking up re taxes soon and it will come when salaries are stagnant and jobs are still being lost. For instance, during the great depression Palm Beach, Florida, raised property taxes to 46% per annum! That means that every two years owners were paying almost the price of the home for re taxes!
$30K is not a huge sum. You might consider putting it in a CD if you trust the FDIC to remain solvent; ie, there is no guarantee that congress is going to continue to let the Fed print money forever and if the printing stops the FDIC is toast.
Be careful purchasing MUNIs...some cities, countys, states are going to end in default for they have bought into the toxic waste of the Wall St banks...see Montgomery Alabama for instance, and the entire states of Mich, Fl, Az, Cali, and many more. Also, many of these locals are saddled with pension obligations that they will have to default on before this depression ends.
Truth of the matter is there are not a lot of good investment choices in the US at this time that do not require high risk. The game is rigged cause Wall St gets data before anyone else and therefore the sheeple are getting sheered. Matter of fact, the dollar is definitely not a store of value, because the Fed is printing them like mad, so do not commit to any long term low interest proposition. When inflation hits it will be quick and deadly to those in long term bonds of any flavor. If you hold your money in a CD till the Fed finally realizes that printing more money is not working and begin to raise rates the yield on long bonds, 30 year treasuries, might be attractive if you have faith the US Gov will survive to pay off their obligations on treasuries. The smart money that bought long bonds in 1983 are still collecting 13% per annum and will be untill 2013, when the bonds reach maturity.
Here is a couple of real estate primer links that will bring you up to speed quickly about residential re...
BTW, these were written pre crash and this guy saw it coming...From these links you can read his takes on commercial and where residential and commercial re are headed from here = down. You should take any advice from foshizzle and lsurussian with very large doses of salt, since neither are truthfull, they talk up the gov line on the economy and/or talk up their particular books.
Straight Talk From the Homebuilder CFO: The Coming Land Recession, Pt I LINK
...and...
Straight Talk From the Homebuilder CFO: The Coming Land Recession, Pt II
LINK
BTW, $30K will buy a nice home in Argentina with 40 acres in wine grapes, fruit/nut trees, vegetables, livestock, etc. Taxes there are very low and the government is small and not every hamlet has a swat team. If you go down there do not convert your money to Argentine currency...the government defaults about every five years but at least you can hold other foreign currencies or commodities so you personally will not be affected. Down Argentine way the living is like the US in the 1960s...very pleasant. Living expenses are about 1/4 of the US. Something to think about.
$30K is not a huge sum. You might consider putting it in a CD if you trust the FDIC to remain solvent; ie, there is no guarantee that congress is going to continue to let the Fed print money forever and if the printing stops the FDIC is toast.
Be careful purchasing MUNIs...some cities, countys, states are going to end in default for they have bought into the toxic waste of the Wall St banks...see Montgomery Alabama for instance, and the entire states of Mich, Fl, Az, Cali, and many more. Also, many of these locals are saddled with pension obligations that they will have to default on before this depression ends.
Truth of the matter is there are not a lot of good investment choices in the US at this time that do not require high risk. The game is rigged cause Wall St gets data before anyone else and therefore the sheeple are getting sheered. Matter of fact, the dollar is definitely not a store of value, because the Fed is printing them like mad, so do not commit to any long term low interest proposition. When inflation hits it will be quick and deadly to those in long term bonds of any flavor. If you hold your money in a CD till the Fed finally realizes that printing more money is not working and begin to raise rates the yield on long bonds, 30 year treasuries, might be attractive if you have faith the US Gov will survive to pay off their obligations on treasuries. The smart money that bought long bonds in 1983 are still collecting 13% per annum and will be untill 2013, when the bonds reach maturity.
Here is a couple of real estate primer links that will bring you up to speed quickly about residential re...
BTW, these were written pre crash and this guy saw it coming...From these links you can read his takes on commercial and where residential and commercial re are headed from here = down. You should take any advice from foshizzle and lsurussian with very large doses of salt, since neither are truthfull, they talk up the gov line on the economy and/or talk up their particular books.
Straight Talk From the Homebuilder CFO: The Coming Land Recession, Pt I LINK
...and...
Straight Talk From the Homebuilder CFO: The Coming Land Recession, Pt II
LINK
BTW, $30K will buy a nice home in Argentina with 40 acres in wine grapes, fruit/nut trees, vegetables, livestock, etc. Taxes there are very low and the government is small and not every hamlet has a swat team. If you go down there do not convert your money to Argentine currency...the government defaults about every five years but at least you can hold other foreign currencies or commodities so you personally will not be affected. Down Argentine way the living is like the US in the 1960s...very pleasant. Living expenses are about 1/4 of the US. Something to think about.
Posted on 11/19/09 at 7:45 am to Rivers
quote:You are so blinded by your obsession with me (probably because I have utterly repudiated so many of your crazy comments, such as your claim that capital gains taxes have to be paid on stock dividends) that you ignored the fact that I have NOT given ANY investment advice. I have not responded in this thread at all until this reply to you.
You should take any advice from foshizzle and lsurussian with very large doses of salt,
Posted on 11/19/09 at 8:15 am to LSURussian
LAND!!! A LOT!!! Cash in hand gives you a upper hand if a builder needs cash to start or finish a development. OR By a few acres somewhere..We did and 
Posted on 11/19/09 at 10:03 am to Rivers
quote:
BTW, $30K will buy a nice home in Argentina with 40 acres in wine grapes, fruit/nut trees, vegetables, livestock, etc. Taxes there are very low and the government is small and not every hamlet has a swat team. If you go down there do not convert your money to Argentine currency...the government defaults about every five years but at least you can hold other foreign currencies or commodities so you personally will not be affected. Down Argentine way the living is like the US in the 1960s...very pleasant. Living expenses are about 1/4 of the US. Something to think about.
I have been to Argentina a few times, it ain't all that. I also have a friend whose family (US citizens) owned a large farm in central America. Well, they thought they owned the farm until the government took it from them leaving them penniless. Risk is everywhere, not just in your one dimensional take on the USA.
To the earlier poster touting muni's. You don't know the poster's tax bracket and most muni's are being sold at premiums meaning the poster would likely take a loss if he had to sell within two years or rates escalated. There are plenty of insured mmkts available paying 1.50% to 1.75% if one looks. A 2.25% one year CD was available two weeks ago. He should definitely not buy stock unless he is willing to accept a potential loss if he sells in two years.
Posted on 11/19/09 at 1:02 pm to tirebiter
I have been buying Muni's at a discount for about a year so there are plenty of good muni's out there FWIW.
Posted on 11/19/09 at 1:07 pm to Roach
Muni values are very attractive right now considering the interest rate is pushing their values to a high. It'll be interesting to see how they react next cycle around.
Tho I agree, there are some outstanding MUNI's out there, Build America Bonds have been some of my favorite.
Tho I agree, there are some outstanding MUNI's out there, Build America Bonds have been some of my favorite.
Posted on 11/19/09 at 1:16 pm to Roach
quote:
I have been buying Muni's at a discount for about a year so there are plenty of good muni's out there FWIW.
Individual muni's? The last 90-120 days? How much markup or spread are you paying? What is the credit quality of the bonds? I am asking this due to the vast majority of AA or better bundled muni's I see are selling at a premium above face value of the bonds with lower YTM than average coupon.
There were great buys last Q of 08 thru first Q of 09, but that is done. Maybe you are buying from distressed sellers.
Posted on 11/19/09 at 1:27 pm to tirebiter
I have only bought one in the last 90 days and it was at a slight discount - AAA rated and in LA. You are right - about a year ago I found some real gems out there are far as munis go.
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