I see what your saying.
Invest some, buy some more guns for when SHTF and keep some cash around.
Love this post.
Sit on it for “just in case/sleep better at night” money. At some point you will need cash, and it is a nice feeling to know its already there.
X…
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Agreed. For a young individual, $10k is a decent lower threshold dollar amount to have in the bank and try not to go below.
Get 10k in 20’s and make it rain. Pick it up and do it again!
Or plan a wedding and it won’t be a problem with what to do with it for long… :bigtdown:
Pffft forget todays ridiculous interest rates. Put a little effort behind it and buy and sell something or do a non-bank, non-stock market investment.
Recently I have been learning how to buy and sell lithographs at an easy profit. For some reason Buffalo does’nt have many full time art dealers (as far as I know. Im still a newbie). So basically im making $400 = 900 - 500 by driving to Rochester then back to Buff, and it’s flipped within 24hrs.
Find a ninche like that and run with it. Nothing feels better than easy money that you’ve earned.
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Or do this. If you have some BS credit card debt at lets say 6.9%, pay that off first and youre guranteed to make 6.9% off your investment.
You own a home?
First time home buyers club. Dip into the 10k to make the contribution and youll have a nice little down payment on your hands. Best part is youre not obligated to buy the home so really its just like putting the money into a savings account anyways.
^ First Time Home Buyers Club is no joke. My buddy made a bundle with it.
Have a home, I have NO credit cards. Never have.
If you have debt pay off it. If no debt save until you have $12K and put $10K down on a rental property.
$10K will get you a decent property in an ok area that should bring you in an extra $500 a month after expenses.
Keep the property nice(mow the lawn, plant flowers$20 at wal mart) and you will have pretty decent luck.Repeat every 2 yrs and you’re a millionaire within 15-20 yrs.
40-45 yrs old and never have to work again unless you want to. Sounds like a decent life to me! If you really want to hustle you can do it by 35. You will have more headaches but it can be done. TRUST ME:thumright:
But he already has a home so downpayment will be more than 10k. I own one rental now and looked into another and the minimum downpayment was 20%. Plus the escrow and all that jazz. Unless of course youre buying a 50k rental in some welfare town.
Listen to this man…
if you don’t have any real savings then I would just throw it into a high interest savings account for a rainy day. I recommend ally.com
If you really want to minimize taxes then a roth IRA would be a good move, but you can’t get the cash back for that rainy day without getting raped.
If you already have 10k in the bank and what to start a business then buying rentals might work.
Lol so true. But hey you’ll get a decent portion of it back if your guests love you lol. Took 2 years to save for my wedding, now time to save for the house.
So how does this work? Should have done my research better before I threw some money into a CD.
The amount of bad advice in this thread is overwhelming - and I’m not even talking about the coke and hookers.
sucksssss
I would also like to know the details of how these work. All I know is that my buddy pays a monthly charge for a certain amount of months, and after he’s made all his payments and finds a house he’d like, they basically give him approx. 150% of what he paid into it. What I don’t understand is how the banks make a profit from this. Why do they do it? If you miss a payment do they keep what you’ve already put into it? Do you have to take out a mortgage from the same bank that enrolled you into their club, and they get a return from the morgage? Does making these payments show the bank that you’re trustworthy enough to make your mortgage payments?
I can kill the hookers and profit.
I’m not seeing any advice from you other than . ?