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Started By
Message
I have no idea what to do with my money
Posted on 11/8/17 at 9:16 am
Posted on 11/8/17 at 9:16 am
Hello Friends,
I am 32, never married, living in Asia (Im American) and working in oil and gas. I've managed to save up around 230k and am really concerned what to do with it. I have about 130k in stocks but I don't like my positions - I'm fearing a big pull back. I don't own a home or a car. But I don't know if I will stay in Asia or move back to the USA or somewhere else. Future is pretty undecided. I don't want to stay all cash bc interest is so low.
So my question is where would you park your cash if you were in my shoes. I don't really need a lot of money to live on. No wife, ex wife, or kids. A few girlfriends, fwb, and a bad golfing/single malt habit is about it.
I am 32, never married, living in Asia (Im American) and working in oil and gas. I've managed to save up around 230k and am really concerned what to do with it. I have about 130k in stocks but I don't like my positions - I'm fearing a big pull back. I don't own a home or a car. But I don't know if I will stay in Asia or move back to the USA or somewhere else. Future is pretty undecided. I don't want to stay all cash bc interest is so low.
So my question is where would you park your cash if you were in my shoes. I don't really need a lot of money to live on. No wife, ex wife, or kids. A few girlfriends, fwb, and a bad golfing/single malt habit is about it.
8
Posted on 11/8/17 at 9:19 am to lsuoilengr
These are the ideas I have crossed off:
Condo in Thailand
Land in Oklahoma
Land in Oregon
Land in Florida
Condo is Malaysia
Condo in the Phillipines
Lot in Conroe
Portland 4 plex and become a slumlord
Doomsday bunker
Gold
Cryptocurrency
Home anywhere (like to stay flexible)
I dont even own a spoon. My life is literally a suitcase, an offshore bag, and a set of golf clubs
Condo in Thailand
Land in Oklahoma
Land in Oregon
Land in Florida
Condo is Malaysia
Condo in the Phillipines
Lot in Conroe
Portland 4 plex and become a slumlord
Doomsday bunker
Gold
Cryptocurrency
Home anywhere (like to stay flexible)
I dont even own a spoon. My life is literally a suitcase, an offshore bag, and a set of golf clubs
Posted on 11/8/17 at 9:39 am to lsuoilengr
quote:Private jet will get you there faster ;)
like to stay flexible
Posted on 11/8/17 at 10:15 am to jimbeam
Just some thoughts. Is there a place you'd like to settle or is there a place you like to vacation or golf? Where is home?
Based on these you could put some of it in a nice piece of property that you could use a property manager to manage. Rent it weekly if it's a vacation home and reserve some time for yourself or yearly if it's a traditional home. Other than that I think you need to get your current stock Holdings in a better position because you'll likely need to be in stocks. Reserve some cash in a money market or some other liquid account.
Based on these you could put some of it in a nice piece of property that you could use a property manager to manage. Rent it weekly if it's a vacation home and reserve some time for yourself or yearly if it's a traditional home. Other than that I think you need to get your current stock Holdings in a better position because you'll likely need to be in stocks. Reserve some cash in a money market or some other liquid account.
Posted on 11/8/17 at 10:43 am to lsuoilengr
If I were you I would make sure my stocks holdings are diversified. Since you work in oil and gas, I would make sure I didn't hold a lot of those companies. Maybe consider some index mutual funds or ETFs. I would park some of my cash in a money market fund and some in a short term low duration bond mutual fund. I would also put a small amount (less than 5%) in precious metals. You didn't mention a 401K. I would max that out if possible.
Posted on 11/8/17 at 10:56 am to lsuoilengr
Pull together some partners, talk to some private equity providers, get funded to start your own company and invest in yourself.
Posted on 11/8/17 at 3:17 pm to lsuoilengr
Go with doomsday bunker and gold.
Posted on 11/8/17 at 3:24 pm to lsuoilengr
I think you’re too young to be too conservative. The benefit of youth is you can lose half of your net worth and get it all back pretty quickly. It’s important to take shots when you’re young because you can’t afford to take them when you’re old.
This post was edited on 11/8/17 at 3:25 pm
Posted on 11/8/17 at 3:25 pm to beaverfever
Put it in an index fund and let it ride.
Posted on 11/8/17 at 3:29 pm to cwill
quote:I always liked this idea for people this age. There's got to be a niche service for O&G that hasn't been tapped yet. Or at least a different method of selling and servicing. Jeff Bezos found the groove...
Pull together some partners, talk to some private equity providers, get funded to start your own company and invest in yourself.
Potential failure is always part of the equation, but plenty of time to recover at this age - especially in your financial position.
Posted on 11/8/17 at 3:49 pm to lsuoilengr
quote:
I dont even own a spoon
Don't know why, this made me LOL
Posted on 11/8/17 at 5:13 pm to lsuoilengr
I would look at a REIT that specializes in Texas land or Texas RE in general.
Posted on 11/8/17 at 6:01 pm to lsuoilengr
There has literally never in U.S. history been a better time to just keep it in cash than right now. So whatever you do, don't feel pressured to do something quickly for fear of missing out.
Posted on 11/8/17 at 6:06 pm to Doc Fenton
Go on
Posted on 11/8/17 at 6:09 pm to jimbeam
I've already done so many times. By the best predictors of 10-12 year returns of U.S. stocks in existence today, none predicts a return much higher than zero. There are few international stocks that are not also pricey, and the global bond environment is the most artificial in world history. There are some recent signs of modest inflation, but that was true in 2008 as well, and the price of gold doesn't seem particularly attractive either. Just stay in cash, man.
Posted on 11/8/17 at 6:13 pm to tigerpawl
quote:
I always liked this idea for people this age. There's got to be a niche service for O&G that hasn't been tapped yet. Or at least a different method of selling and servicing. Jeff Bezos found the groove...
Potential failure is always part of the equation, but plenty of time to recover at this age - especially in your financial position.
I think this guy might be E&P...whatever, 3 down votes for suggesting he be entrepreneurial...must be a buncha corporate lackeys up in here.
Posted on 11/8/17 at 6:32 pm to cwill
quote:“For nonconformity the world whips you with its displeasure. And therefore a man must know how to estimate a sour face. The by-standers look askance on him in the public street or in the friend’s parlour. If this aversation had its origin in contempt and resistance like his own, he might well go home with a sad countenance; but the sour faces of the multitude, like their sweet faces, have no deep cause, but are put on and off as the wind blows and a newspaper directs.” RWE
I think this guy might be E&P...whatever, 3 down votes for suggesting he be entrepreneurial...must be a buncha corporate lackeys up in here.
Posted on 11/8/17 at 7:17 pm to lsuoilengr
I'm gonna suggest hookers and blow.
Posted on 12/27/18 at 12:20 am to Doc Fenton
quote:
There has literally never in U.S. history been a better time to just keep it in cash than right now. So whatever you do, don't feel pressured to do something quickly for fear of missing out.
Any hot takes for 2019?
Posted on 12/27/18 at 12:22 am to lsuoilengr
Update?
Did you buy that trailer park in Dayton or what?
What is best time of year to spend a month in SEA?
Did you buy that trailer park in Dayton or what?
What is best time of year to spend a month in SEA?
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