Investing $$$ Opinions

[redneck joe]

I think this is a great place to get advice. Putting into action is a diff story.

where else can you go, easily, and get such a wide swath of first person experience. Where else can you find rich people who waste money on stupid things like boats. Where else can you find not rich people who, while wasting money on stupid things like boats, are sensible enough to fix themselves and buy used boats.

everyone here has experience with money, I for one think it is a fantastic thing that I can pop into here or any of my other forums and gather the collective experience from real people....NOT someone who makes money by telling me what do to with my money.

Frankly, I think it is dumb not to get input from as many people as possible. Now if one person told to invest in a gerbil farm and I did, well I'd be an idiot.

 

[Old Ironmaker]

The Gerbil market is making a comeback Redneck joe!

And don't ferget the hamster.com fiasco of 98'. I lost big time.

 

[aspeck]

I have made millions on my gerbil farm ... what do you have against gerbil farms, Joe?

 

[alldodge]

Joe this is what G-Dad warned me about many years ago :

 

[dingbat]

Don't know..... farming has been very, very good to me over the past 10 years...

You can't take it with you....getting close to the time to sell the farm and buy that boat...lol

 

[crazy charlie]

Thanks guys ,however SOME of you didnt read my header properly .I didnt ask for advice,I asked for OPINIONS.I just wanted to hear what others would do thats all.ALSO... I wouldnt disrespect my fellow iboats members with statements like " THE LAST PLACE I WOULD SEEK INVESTMENT ADVICE IS ON A WEBSITE FROM A BUNCH OF STRANGERS" Sorry but I see that as disrespectful but thats just me.I have given and taken advice from "STRANGERS" on this forum for several years .I have helped many and have been helped by many .Those of you who gave opinions ,I appreciate and respect your replies.Charlie

 

[WIMUSKY]

Taking advice from strangers about boating is completely different than letting us play with a good sum of money. I like everyone here, but I wouldn't ask for advice or opinions about my finances... It's not disrespectful......

 

[64osby]

Talk to people you know and trust. Ask them who they use and if they are happy.

We have a guy.... Yes I wrote that.

He is great, he is an independent but works with Commonweath. He used to work with Ameriprise but when they doubled the yearly fees he moved. All his clients went with him.

Earning 3% is not making money off your money. It is a safe hold.

We are in one the best eras for the stock market. Yes it will drop, but timing is not known. Take half and be secure at 3%, take a quarter and invest conservatively, take the other quarter and go aggressive. This would be my conservative plan.

Make money on it while you can. When the market turns, interest goes up, make a phone call and go to bonds or CD's.

Or buy a nice boat. It is all a crap shoot and you can't take it with you.

 

[GA_Boater]

My opinion what to do with your money is give it to charity. The G-B Foundation is a good one.

In a case like you put out, opinion and advice are one and the same. I figured you wanted opinions about putting it all in a 3-5 year CD. Then you asked;

Anyone do anything safe and interesting with $$$$??

Bingo!

 

[racerone]

Uncle said it years ago------" buy low then sell high "

 

[dwco5051]

My opinion and free advice which is worth nothing. Hedging against inflation is not my main objective now that I am in my 80's. The CPI is 58% based on housing and transportation and is based on an urban population. In my case I have no mortgage and pay no rent, My truck is 18 years old with only 160K on it and my wife's car is 19 years old with 24K on it and looks like it just came out of the showroom since it has only spent at most 30 nights not garaged in all those years and I have no need to replace either one.

We are fortunate enough to have a net worth such that we will never run out of money. We bring in enough in retirements that it exceeds our living expenses. About 70% is in real estate, our current house and several parcels of raw land. I still buy safe stocks on a monthly basis (income averaging) and reinvest the dividends for an average of 3.5 to 5 percent annual returns.

My thoughts that as you age your goals are entirely different. Except for having a bigger and more expensive house than we really need we still live as frugal a live style as back when I was as poor as a church mouse.

I used t play with commodities and options 20 or so years ago but age and the reality that there is no room on the boat for money when you cross that shining sea gives one a different outlook on investing.

 

[tpenfield]

All I know is that the reason that the financial advisory folks are called 'brokers', is because they are broker than you

 

[techangy]

Gaming INdustry is one the best in terms of investments and returns mate. Have you seen people playing These Games like Second life and earning millions?

MOD EDIT - Unlinked the spam site

 

[GA_Boater]

I knew it. Start talking about money and the spammers eventually show up.

 

[garbageguy]

Great idea. Let him spend his Samolians on a really BIG boat then he can take us out on it and we can keep our Loonies in our jeans. A Loonie is our Canadian 1 dollar coin (73 cents USD) that originally had a Loon stamped on it. A Toonie is our 2 buck coin of course. We have done away with the penny and are planning to ditch the nickel soon. When I have a jar full of change or the ash tray in the truck is full my lady helps me by recycling those pesky Loonies and Toonies. A good handful can be 50 bucks. That friends is poor investing on my part, zero returns.

Being here in Western NY State, we have some Loonies and Toonies. They sit in various places with other stuff and we forget to bring 'em when we do go visit the great white north - talk about poor investing, negative returns

 

[bruceb58]

When I sold my house, I had a large sum of money pulled out. I put it at Fidelity where my rollover IRA is. They manage it and I have them manage the house cash. Very small fee and they do better than I can do. Fee is less than 0.25% overall. If you have an account at Fidlelity, you can talk to a financial planner for free. They can manage how much is in equities so you can have a lot with more risk or very little with not much risk. Putting it in a bank earning 2% interest is the last thing I would be doing no matter what age I was.

I also invest in many small limited partnerships in real estate ventures. Usually buying apartment houses that are poorly managed and refurbishing, getting rents up and then selling. I also do construction loans associated with some properties. Can make 8% to 10% with not a ton of risk on these loans. The apartment house projects are making around 15% annualized...many make more than that. Typically, your money is tied up for 3 years.

 

[bruceb58]

i trust very little from California.

You must not use a cell phone I take it! Of course you do use the internet.! LOL

 

[ezbtr]

I think this is a great place to get advice. Putting into action is a diff story.

where else can you go, easily, and get such a wide swath of first person experience. Where else can you find rich people who waste money on stupid things like boats. Where else can you find not rich people who, while wasting money on stupid things like boats, are sensible enough to fix themselves and buy used boats.

everyone here has experience with money, I for one think it is a fantastic thing that I can pop into here or any of my other forums and gather the collective experience from real people....NOT someone who makes money by telling me what do to with my money.

Frankly, I think it is dumb not to get input from as many people as possible. Now if one person told to invest in a gerbil farm and I did, well I'd be an idiot.

agreed

 

[ezbtr]

When I sold my house, I had a large sum of money pulled out. I put it at Fidelity where my rollover IRA is. They manage it and I have them manage the house cash. Very small fee and they do better than I can do. If you have an account at Fidlelity, you can talk to a financial planner for free. Putting it in a bank earning 2% interest is the last thing I would be doing no matter what age I was.

exactly what I started doing as soon as we moved from CA. to TX

 

[Old Ironmaker]

Being here in Western NY State, we have some Loonies and Toonies. They sit in various places with other stuff and we forget to bring 'em when we do go visit the great white north - talk about poor investing, negative returns

I have a big family all across Western N.Y. from Lockport to the southern tier and down to Corfu. Mom was from North Tonawanda where I lived until time for school and every summer for years.. N.T. was only an hour and 15 minutes to get to from where I grew up in Hamilton ON. Hold on to your Loonies and Toonies, they will be worth a buck or 2 some day.