Money Investing?

Welcome to our community

Be a part of something great, join today!

Register Log in
Wheels

Wheels

Is That A Challenge?!?!1!
Staff member
Global Moderator
Joined
Nov 2, 2008
Messages
16,262
Likes
833
Points
113
So I'm growing up now ;) .. and realizing that hey I finally have a little money to invest now that we have 2 incomes, and our bills are almost paid off (dont have a mortgage, only rent) anyone have recommendations on what might be a decent investment or two? Thanks.
 
and basically I'm a total noob at this lol.
 
I have my money in a credit association which currently pays out 3% /year

Used to be as high as 6% a few years ago, that was sick

6% /12 months * 10k (for example) = 50/month :)
 
Wheels said:
So I'm growing up now ;) .. and realizing that hey I finally have a little money to invest now that we have 2 incomes, and our bills are almost paid off (dont have a mortgage, only rent) anyone have recommendations on what might be a decent investment or two? Thanks.
Click to expand...

Might be a good time to invest in real estate then, if you are renting. Prices are low, and mortgage rates are low.

Disclaimer: I am not a real estate agent, nor am I selling any of my real estate at present.

barfo
 
barfo said:
Might be a good time to invest in real estate then, if you are renting. Prices are low, and mortgage rates are low.

Disclaimer: I am not a real estate agent, nor am I selling any of my real estate at present.

barfo
Click to expand...

I thought about that actually, but Real estate unfortunately around here would net people about $1500-$1700 a month mortgage, and we cant afford that, but we also arent looking to move, even though we understand it would be cheaper to do so.
 
Save a year and a half of living expenses and don't touch it.
 
Put the rest in developing markets mutual funds (not the USA)...
 
If you are renting, you should invest in a house. Real estate is always a very good investment in a recession anyway. After that though, Roth IRA's are a good way to go, and you can always count on precious metals. Like Banya said........"That's gold." Words to live by.
 
Mediocre Man said:
If you are renting, you should invest in a house. Real estate is always a very good investment in a recession anyway. After that though, Roth IRA's are a good way to go, and you can always count on precious metals. Like Banya said........"That's gold." Words to live by.
Click to expand...

http://www.time.com/time/business/article/0,8599,2013684,00.html

I'm not against home ownership, but its good for OWNING if you have a long term plan. This 5-year then flip the house kind of mentality just doesn't pass the mustard test.
 
Mediocre Man said:
If you are renting, you should invest in a house. Real estate is always a very good investment in a recession anyway. After that though, Roth IRA's are a good way to go, and you can always count on precious metals. Like Banya said........"That's gold." Words to live by.
Click to expand...

yeah thats what a lot of people say. I just worry with the fact that we are only paying $700 a month rent as it is... then throw in a rental property, which would run $1500 a month... if we dont have a tenant.. we are screwed.
 
I'm very partial to American Funds. Choose 4 funds, then put 25% in each fund.
 
Wheels said:
yeah thats what a lot of people say. I just worry with the fact that we are only paying $700 a month rent as it is... then throw in a rental property, which would run $1500 a month... if we dont have a tenant.. we are screwed.
Click to expand...

...and the 20% down....and property taxes....
 
I got a financial advisor. A good one is worth it (get recommendations). Even with the stock market slump, my retirement has almost doubled in 3 years. For me, stock was a culinary basic (chicken stock, meat stock, fish stock, vegetable stock) and bonds was a sterioid junkie who played for the Giants. Believe me I needed someone proficient. The one I hired specializes in planning for LGBT folks, which was important to me, probably not to you. We meet annually to update my portfolio.
 
without meaning to get too personal, what does a specialty in LGBT do? Things like tax planning, or is it purely for the level of service? I've never had to think about a bigoted advisor, but I have dealt with lawyers that didn't think a 22 y/o was worth their time.
 
crandc said:
I got a financial advisor. A good one is worth it (get recommendations). Even with the stock market slump, my retirement has almost doubled in 3 years. For me, stock was a culinary basic (chicken stock, meat stock, fish stock, vegetable stock) and bonds was a sterioid junkie who played for the Giants. Believe me I needed someone proficient. The one I hired specializes in planning for LGBT folks, which was important to me, probably not to you. We meet annually to update my portfolio.
Click to expand...

interesting... may I ask how much an advisor runs you? if not thats cool lol.
 
the ones I've looked at run around 1% portfolio worth. I'm in the same boat, btw...getting to the point where there's a baby, a mortgage, a rental property, a few 401(k)s and a bunch of cash in the safe. So I'm interested in the topic.
 
cool thanks for that info. And glad its not just me who this information will help :cheers: although you are a couple steps ahead of me with the rental propery and mortgage lol.
 
Spend your money on magazines and read up on current trends/blogs/news so you just don't blindly give your money to some guy and have him invest it.
 
MM has it right. I only barely pay more for my mortgage than I did for rent previous to buying. It's a daunting process, but I'm sure you could find something you can afford. Maybe start with a condo.

After that, Roth IRA. Invest the max tax free contribution every year you can afford it.
 
I know of this guy who can triple your money in a years time.

His names Bernie
 
EL PRESIDENTE said:
Spend your money on magazines and read up on current trends/blogs/news so you just don't blindly give your money to some guy and have him invest it.
Click to expand...

am i doing this right?
ClipMagazineLesson.jpg
 
btw, I am lurking on this thread for the same reason as you and wheels. :cheers:
 
Wheels said:
I thought about that actually, but Real estate unfortunately around here would net people about $1500-$1700 a month mortgage, and we cant afford that, but we also arent looking to move, even though we understand it would be cheaper to do so.
Click to expand...

What you can't afford to do is rent! Renting=throwing money in the trash. At least with real estate, you're just setting your money aside, at worst.
 
44Thrilla said:
What you can't afford to do is rent! Renting=throwing money in the trash. At least with real estate, you're just setting your money aside, at worst.
Click to expand...

unless your house loses value, which has happened to many. if you can't sell your house, then its not setting your money aside...the days of housing being a stable investment are long over. If you're going to live in your house..sure, its nice to own. but its a new world.

or if your house payments don't let you live life. what good is a house if all you do is live in it?
 
EL PRESIDENTE said:
unless your house loses value, which has happened to many. if you can't sell your house, then its not setting your money aside...the days of housing being a stable investment are long over. If you're going to live in your house..sure, its nice to own. but its a new world.

or if your house payments don't let you live life. what good is a house if all you do is live in it?
Click to expand...

I would have agreed with you 4 years ago, but right now real estate is extremely safe as an investment. And obviously you don't want to buy something you can't afford. But considering rent is a 100% loss, I don't know how people who have a choice to buy can do it.
 
44Thrilla said:
I would have agreed with you 4 years ago, but right now real estate is extremely safe as an investment. And obviously you don't want to buy something you can't afford. But considering rent is a 100% loss, I don't know how people who have a choice to buy can do it.
Click to expand...

Its not a loss if its shelter. real estate is still not "extremely safe", we still don't know where this economy is going.

Its cheap to borrow money and prices probably won't drop much lower though. If anything, its going to be stagnant.
 
At the kind of rates that happen right now - renting instead of buying is about as stupid an idea as possible.

All you need to do is find a small space and the monthly payment should be about as high as your rent - but it will offer you shelter and will build your equity.
 
You must log in or register to reply here.

Similar threads

PapaG
GM Will Spend $109 Million To Preserve 96 Michigan Jobs
Replies
15
Views
1K
jlprk
jlprk
Colonel Ronan
Need help with good spending/saving habits
2 3
Replies
77
Views
3K
Colonel Ronan
Colonel Ronan
GrandpaBlaze
Mobile Phone Questions
Replies
22
Views
928
Masbee
Masbee
ABM
Yo, Maxie....Real Estate Question
Replies
9
Views
1K
MARIS61
MARIS61
T
Money Maket Funds Not Safe?
Replies
4
Views
2K
WarriorFan
W

Users who are viewing this thread

Total: 1 (members: 0, guests: 1)
Back
Top