Education, a mutual fund, a CD. Max your IRA out, you have one of those, right?
Sell drugs.
look up efficient market theory.
[quote]LiveFromThe781 wrote:
i have around 10k actually less, but like i still at home and i dont even have a car.
i just was wondering some ways i could get a cash flow going on to generate new funds which would basically be all for spending. that way as long as i have that 10k put away in something and im getting returns i can just live off that and my other job for the time being and maybe look at getting an apartment. [/quote]
Ten grand won’t generate jack as far as cash flow. You might get 20 bucks a month.
As far as investments go (two years plus), the only area I have much confidence in is energy. My logic is the emergence of China and India is unstoppable and will put more and more of a demand on the worlds energy supply. I’m always more than ready to bail on any belief I have. The obvious often proves to be wrong or takes a really long and bumpy road to get there.
- Pay off all your bills if you have any.
- I’m liking precious metals right now to insulate against what I think the dollar is going to do in response to the government spending frenzy. The only way we are going to be able to pay ourselves back is to print more money. That will cause rampant inflation.
- I don’t think we’ve seen the bottom of the recession. I think you will see the stock market take a huge hit if the health care reform bill passes. It will be the end of the private health care industry in the US. I hope to hell I’m wrong.
- No Debt
- 3-6 month emergency fund (probably longer in this economy)
- then invest
[quote]on edge wrote:
LiveFromThe781 wrote:
i have around 10k actually less, but like i still at home and i dont even have a car.
i just was wondering some ways i could get a cash flow going on to generate new funds which would basically be all for spending. that way as long as i have that 10k put away in something and im getting returns i can just live off that and my other job for the time being and maybe look at getting an apartment.
Ten grand won’t generate jack as far as cash flow. You might get 20 bucks a month.
As far as investments go (two years plus), the only area I have much confidence in is energy. My logic is the emergence of China and India is unstoppable and will put more and more of a demand on the worlds energy supply. I’m always more than ready to bail on any belief I have. The obvious often proves to be wrong or takes a really long and bumpy road to get there.[/quote]
I agree completely with your first statement. The smaller the investment, the riskier you’ll have to be in order to get a decent return (in dollars, not %'s). I’m also a fan of energy and agree that China and India (or more broadly, the BRIC countries) will be consuming more and more energy as time goes by. However, I’d say this is more of a long-term strategy since speculation in the commodities market is so high right now. There’s no explanation for the recent volatility in oil prices other than the big boys (Wall Street) longing and shorting the shit out of it.
[quote]hoosegow wrote:
- Pay off all your bills if you have any.
- I’m liking precious metals right now to insulate against what I think the dollar is going to do in response to the government spending frenzy. The only way we are going to be able to pay ourselves back is to print more money. That will cause rampant inflation.
- I don’t think we’ve seen the bottom of the recession. I think you will see the stock market take a huge hit if the health care reform bill passes. It will be the end of the private health care industry in the US. I hope to hell I’m wrong.[/quote]
Agree with #2. Basically, if anything is pegged to the dollar (pretty much all your hard and soft commodities), it’s going to appreciate.
[quote]jehovasfitness wrote:
- No Debt
- 3-6 month emergency fund (probably longer in this economy)
- then invest[/quote]
This is a great idea here.
Same one I’m attempting to follow.
After reading 4hr workweek & “I will teach you to be rich” I was able to really get myself on track and things have been working out and adding up really nice for me.
all the wall street-types that talk about ‘todays’ hottest stock are only a flash in the pan. Investing for the long haul is where it’s at. If you have 10k now, you don’t “need” money so don’t invest in a flash in the pan idea. Turn that into 50k+ down the road.
There is no right answer.
please tell me you all have IRAs? i would never trust a company’s pension plan these days.
[quote]LiveFromThe781 wrote:
Say i wanted to throw 10k around, whats good right now?[/quote]
Education. Even in a massive depression, people with skills are less likely to starve. Learn to fix a car, set broken bones, how to grow tobacco, how to make soap, and so on. If you know how to do things that people want, you won’t starve.
Or, if you mean passive investments, buy gold mining stocks, especially companies located in North America. Those are less likely to be confiscated by tinpot governments desperate for revenue, to keep the cattle peaceful. Any company with its main mine in Nevada or Canada should do. Unless the system falls completely apart, those companies will do well.
In 1934, Homestake Mines paid a regular dividend equal to what the stock price had been, in 1929. Food for thought…
[quote]jo3 wrote:
on edge wrote:
LiveFromThe781 wrote:
There’s no explanation for the recent volatility in oil prices other than the big boys (Wall Street) longing and shorting the shit out of it.
[/quote]
Actually oil was fundamentally overpriced. There was no reason for it being above 70 and it was due for a major correction. Oil supply numbers came out and showed a large drop in consumption, a larger supply then initially thought and (probably the wrong way to word it) a large over supply of the distillent used in oil. This brought the prices to the sub 60/ barrel.
i dont have an IRA, i dont even know what one is
investement retirement account??
[quote]LiveFromThe781 wrote:
i dont have an IRA, i dont even know what one is
investement retirement account??[/quote]
individual
[quote]LiveFromThe781 wrote:
i dont have an IRA, i dont even know what one is
investment retirement account??[/quote]
That’s probably what it stands for. That’s definitely what it is.
I don’t think this response is what you’re looking for, but, I recommend you open two accounts with Hussman Funds, specifically the Strategic Growth Fund. This is a fund that hedges against losses, and so far in it’s 8 year history, it has been very successful at avoiding them.
Put three thousand in a ROTH account and put the rest in a regular brokerage account. Every year try to save up another 3 grand for the Roth. If you come up short transfer what you need from the brokerage account to make the full 3000 yearly Roth contribution.
While your doing that, learn as much about investing and the markets as you can AND figure out what your going to be doing with your life. Investing might be an important part of your financial plan OR you might end up being a kick ass career man who doesn’t need to worry about investing. Right now, though, you’ve got 10 grand and it’s important you don’t do something stupid with it. What I outlined above isn’t stupid.
[quote]jehovasfitness wrote:
LiveFromThe781 wrote:
i dont have an IRA, i dont even know what one is
investement retirement account??
individual[/quote]
correct
If you don’t know what an IRA stands for, I’d spend at least $100 of that $10k on some books about investing. doesn’t have to be boring stuff.
Suze Orman and Dave Ramsey are both authors that I agree a lot with who write in a style that won’t bore you to death.
[quote]Rhino Jockey wrote:
hardgnr wrote:
Can’t you buy a house in the US for 10k?
Not exactly… http://www.trulia.com/home_prices/[/quote]
Interesting. New York is fucking crazy expensive.
[quote]BlackLabel wrote:
Sell drugs.[/quote]
Sell your body for treefity.
[quote]hardgnr wrote:
Rhino Jockey wrote:
hardgnr wrote:
Can’t you buy a house in the US for 10k?
Not exactly… http://www.trulia.com/home_prices/
Interesting. New York is fucking crazy expensive.[/quote]
True but here in Cali we had literally a Port-a-Potty for a house with a water meter a block away from the beach with potential unblockable ocean views selling for 750k+.