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Started By
Message
re: Investment advice needed...
Posted on 9/8/11 at 11:20 am to Buddapank
Posted on 9/8/11 at 11:20 am to Buddapank
Actually, my first investment if I was in your situation would be to keep lobbing money at my business. The best investments you can make are the ones you know the most about. You do not have to invest in the market.
Eta applies to rich californian as well obviously.
Eta applies to rich californian as well obviously.
This post was edited on 9/8/11 at 11:22 am
0
Posted on 9/8/11 at 11:31 am to C
quote:
yep. I'm currently trying to convert my pre-med/nurse educated stay at home wife into my financial expert... its not working.
From prior/ongoing experience with a similar situation, you might as well give that up as mine has zero aspirations to manage/invest $'s.
Posted on 9/8/11 at 11:59 am to dallaslsufan
quote:
own (no mortgage) a $250k house...I have $150k in the bank...I have no debt of any kind and save about $3k/mth in the bank...I work my own business that current puts asside $25k/year into an investment account for me.
That's awesome...
I'm by no means an investment guru...but with the amount you save / month you could max out an IRA and a Roth IRA every year and have some to spare. I think that'd be around 20,000 per year.
As far as what to put your money in once it is in the IRA's, there will be many opinions/options with this. Me personally I'd consider staying in cash for another year or so. IMO the bottom in the next two years or so will be one of the best time to buy equities for the next 20-30 years.
Posted on 9/8/11 at 12:06 pm to kfizzle85
quote:
Can't be hard to find a financial adviser that deals with high net worth clients in Dallas, that place is full of money.
This! Interview several and see if they'll give you references. Also, try and go with one who is not affiliated with Morgan Keegan, Fidelity, etc who will try and push you in there preferred funds (that they get a commission on).
This post was edited on 9/8/11 at 12:14 pm
Posted on 9/8/11 at 12:37 pm to LSU0358
Fee based independant advice is the ticket. They will use no load/load waived funds, ETFs or individual stocks/Bonds with no transaction charges. This way you know when they make a change they are doing it for your best interest and not to make a boat payment. Also, they have an extra incentive to make your account grow, because they will make more and vice versa.
Posted on 9/8/11 at 12:48 pm to dallaslsufan
I'll be your financial advisor.
please call me ASAP. 1-800-screw-yu
please call me ASAP. 1-800-screw-yu
Posted on 9/8/11 at 1:57 pm to dallaslsufan
quote:
I own (no mortgage) a $250k house...I have $150k in the bank...I have no debt of any kind and save about $3k/mth in the bank...I work my own business that current puts asside $25k/year into an investment account for me.
Don't screw around with financial advisors.
Find large tracts of land - Mississippi and Arkansas delta land has been hot the last couple of years - and put some money into something real. Let a consulting/management firm handle the BS for you (they'll typically charge ~ 6% of the income yearly) and lock in a price with a lessee for the land, up to you whether it's re-negotiable halfway thru term. Most terms go 5 - 7 years. Returns will vary and there are a number of ways to contract - I'd take the counter cyclicals and base payments with a one fourth share of the crops, lessee provides insurance.
You'll figure about an 8% annual return that way, minus taxes, upkeep, managment fees ~ 6.
Then you'll have the appreciation on the land.
Larger tracts sell cheap, Farm Credit will go 20 on the financing with a quarter down, interest rates are low, and appreciation is strong and looks to be for the next couple of decades because of population v. production needs.
Posted on 9/8/11 at 9:25 pm to tirebiter
quote:
you might as well give that up as mine has zero aspirations to manage/invest $'s.
I got mine to go on to our bank site today and print out our auto insurance so she can renew our registration all on her own... it's a start...
Posted on 9/9/11 at 9:27 am to C
quote:
I got mine to go on to our bank site today and print out our auto insurance so she can renew our registration all on her own... it's a start...
You are way ahead of me. I had to take the vehicles to get emissions tested, submit the renewal info, and apply the new stickers to the tags when they arrived + had her car repaired 2-weeks ago. I have ruined that scenario...
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