User Panel
User Panel
User Panel
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Posted: 8/22/2017 9:47:05 AM EDT
[#1]
What is the difference between money and currency?
Second, with your present action, you may not be saving anything. The Dodd-Frank Act meant that you are an unsecured creditor with the bank and that the bank's primary creditor has dibs on any funds that the bank has. You stand second in line to get funds from the bank. |
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Posted: 8/22/2017 9:48:46 AM EDT
[#2]
Gonna be tough to get a good answer that isn't risky, otherwise the old saying comes into play ...
If it was easy, everyone would be doing it. Best of luck OP |
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Posted: 8/22/2017 9:51:24 AM EDT
[#3]
Should of asked in Team for more "sane" answers...
 in for GD... 
Also, look into maxing a Roth IRA every year if you don't already. |
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Posted: 8/22/2017 9:51:46 AM EDT
[#4]
Index funds. You can't possibly bankrupt dozens of companies simultaneously.
Witb 88k, maybe FUSVX. |
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Posted: 8/22/2017 9:52:38 AM EDT
[#5]
Return is a function of risk, and risk is a function of your investment horizon (how long you intend to leave the funds invested).
IOW, you can't have one (return) w/o risk...your return is what you are being "paid" to assume risk. The questions can only be answered by you: can you afford (monetarily and mentally) to see the value of your $88k drop to $60k? Can you leave the $ invested for 5 years? 10? Longer? If the answers are "yes", then, as has been posted, something like an S&P500 index (exchange traded or mutual) fund and forget about it for a decade or two. |
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Posted: 8/22/2017 9:52:49 AM EDT
[#6]
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Posted: 8/22/2017 9:53:24 AM EDT
[#7]
Increased rate of return equals increased risk.
The only 100% safe, but liquid, investments out there are CDs and money markets. If you want to tie up the money for several years they're are other options. |
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Posted: 8/22/2017 9:53:56 AM EDT
[#8]
Quote HistoryQuoted:
Index funds. You can't possibly bankrupt dozens of companies simultaneously.
Witb 88k, maybe FUSVX. |
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Posted: 8/22/2017 9:54:22 AM EDT
[#9]
Quote HistoryQuoted:
Index funds. You can't possibly bankrupt dozens of companies simultaneously.
Witb 88k, maybe FUSVX. |
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Posted: 8/22/2017 9:59:58 AM EDT
[#10]
You should be able to find FDIC insured savings accounts that offer 1-1.25%, which should get you ~800 per year. But then the tax man cometh for his cut.
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Posted: 8/22/2017 10:04:01 AM EDT
[#11]
Consider not worrying about making money on that money and keeping it solvent if things go to hell. Risk future earnings to make money.
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Posted: 8/22/2017 10:11:48 AM EDT
[#12]
Municipal bonds?
If it were me, I'd consider tearing down the house and building a new one which meets your needs. Is there any way to add an attractive addition to a shotgun house? Use the money for a big down payment and mortgage for the rest. The mortgage interest is tax-deductible. The new house will greatly add to the value of the property. Paying down a mortgage will improve your credit rating. And a 14-year-old might like living in a new, comfortable house better than a old clapboard house. Alternatively, use the money to put up a pole barn and fencing, and raise some cattle. Maybe there are some tax benefits to be had being a farmer. |
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Posted: 8/22/2017 10:12:37 AM EDT
[#13]
Quote HistoryQuoted:
The whole market can go down however and he can lose 5-10%. OP... All investing has risks. CD's are fdic insured so zero risk there. Go to depositsaccounts.com to find better rates than local. |
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Posted: 8/22/2017 10:18:00 AM EDT
[#14]
The $88k is your "I've screwed everything up and this is all I've got left" money. Put it in and index fund and forget about it until you can no longer work.
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Posted: 8/22/2017 10:24:09 AM EDT
[#15]
If you don't mind getting money from the feds usda nrcs funds seasonal high tunnels. Dunno how competitive it may be in your area ( plastic covered hoop house).
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Posted: 8/22/2017 10:27:33 AM EDT
[#16]
Op, I would normally say go talk to a CFP.
But...depending on which one you find, you may end up with good advice or shitty advice. As the CFP board will allow insurance only salesmen to get a CFP...see how that's a conflict of interest. So as to the Op...there are things out there that can solve your problem...good luck finding someone who can help. |
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Posted: 8/22/2017 10:29:40 AM EDT
[#17]
Quote HistoryQuoted:
Op, I would normally say go talk to a CFP. But...depending on which one you find, you may end up with good advice or shitty advice. As the CFP board will allow insurance only salesmen to get a CFP...see how that's a conflict of interest. So as to the Op...there are things out there that can solve your problem...good luck finding someone who can help. And it's a shame that it is so. 
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Posted: 8/22/2017 10:31:53 AM EDT
[#18]
Quote HistoryQuoted:
Should of asked in Team for more "sane" answers... in for GD...
Also, look into maxing a Roth IRA every year if you don't already. You people are really amazing. A.W.D. |
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Posted: 8/22/2017 10:35:44 AM EDT
[#19]
Quote HistoryQuoted:
Well said. And it's a shame that it is so. Quote HistoryQuoted:
Quoted:
Op, I would normally say go talk to a CFP. But...depending on which one you find, you may end up with good advice or shitty advice. As the CFP board will allow insurance only salesmen to get a CFP...see how that's a conflict of interest. So as to the Op...there are things out there that can solve your problem...good luck finding someone who can help. And it's a shame that it is so. The CFP board won't tell the truth about it because then they lose revenue. The really popular guys in the metro area who are on the radio all the time have a facade that they are the best. Yet you start to look behind the curtain and see how much of a joke they are. Then you can go with the big brokerage firms...but they are expensive and they are all salesmen and have a shit load of accounts so, do you really think you are going to get attention. I made a deal to myself and my clients that I only have room for X amount of households. Not everyone can say that. Most people get greedy and keep taking on clients. I am lucky to where I don't have to be greedy. |
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Posted: 8/22/2017 11:03:12 AM EDT
[#20]
Have you ever wondered why the Stock market is at ~ 200% of normal valuation?
Now you know. The safe option you seek does not exist. You are actually doing pretty good at 2% Fwiw, some banks will offer a reasonable return on a checking balance, but there's always catches. "Must have auto payments" "Must have 10 or more transactions." Even with that, you aren't gonna do much better than you already are. High dividend blue chip stocks held up much better than most, during the crash. XOM, etc. |
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Posted: 8/22/2017 11:07:42 AM EDT
[#21]
I made +45% in crypto currency last month. I've made +3000% in the past 12 months.
It IS risky, but the payoff is huge. GD will now flame me. Good luck, OP. |
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Posted: 8/22/2017 11:08:58 AM EDT
[#22]
Quote HistoryQuoted:
Tell me about it. The CFP board won't tell the truth about it because then they lose revenue. The really popular guys in the metro area who are on the radio all the time have a facade that they are the best. Yet you start to look behind the curtain and see how much of a joke they are. Then you can go with the big brokerage firms...but they are expensive and they are all salesmen and have a shit load of accounts so, do you really think you are going to get attention. I made a deal to myself and my clients that I only have room for X amount of households. Not everyone can say that. Most people get greedy and keep taking on clients. I am lucky to where I don't have to be greedy. A lady that I worked with for several years finally retired this past September. She knew how much I criticized our 401k because of the fees and it only contains exactly three index funds out of 22 funds available. So she asked me to look at her main portfolio invested with a brokerage with the initials W&R. She had nearly 500,000 in there and they had her spread out into about 20 different mutual funds that were under their name and not one and I repeat not ONE had a fee of less than 1%. Worse,they were ALL 5.75% load funds. They have made a great deal of money off of this trusting puppy. Her "advisor" though always sends her a Christmas card and a birthday card to let her know he is thinking of her.
Along with a hefty 1.25% AUM fee. 
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Posted: 8/22/2017 11:10:18 AM EDT
[#23]
Quote HistoryQuoted:
I made +45% in crypto currency last month. I've made +3000% in the past 12 months. It IS risky, but the payoff is huge. GD will now flame me. Good luck, OP. |
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Posted: 8/22/2017 11:14:06 AM EDT
[#24]
Quote HistoryQuoted:
Municipal bonds? If it were me, I'd consider tearing down the house and building a new one which meets your needs. Is there any way to add an attractive addition to a shotgun house? Use the money for a big down payment and mortgage for the rest. The mortgage interest is tax-deductible. The new house will greatly add to the value of the property. Paying down a mortgage will improve your credit rating. And a 14-year-old might like living in a new, comfortable house better than a old clapboard house. Alternatively, use the money to put up a pole barn and fencing, and raise some cattle. Maybe there are some tax benefits to be had being a farmer. Lots of cities with big debt in way of "improvements" and pension obligations. |
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Posted: 8/22/2017 11:25:29 AM EDT
[#25]
Quote HistoryQuoted:
True. A lady that I worked with for several years finally retired this past September. She knew how much I criticized our 401k because of the fees and it only contains exactly three index funds out of 22 funds available. So she asked me to look at her main portfolio invested with a brokerage with the initials W&R. She had nearly 500,000 in there and they had her spread out into about 20 different mutual funds that were under their name and not one and I repeat not ONE had a fee of less than 1%. Worse,they were ALL 5.75% load funds. They have made a great deal of money off of this trusting puppy. Her "advisor" though always sends her a Christmas card and a birthday card to let her know he is thinking of her.
Along with a hefty 1.25% AUM fee. Quote HistoryQuoted:
Quoted:
Tell me about it. The CFP board won't tell the truth about it because then they lose revenue. The really popular guys in the metro area who are on the radio all the time have a facade that they are the best. Yet you start to look behind the curtain and see how much of a joke they are. Then you can go with the big brokerage firms...but they are expensive and they are all salesmen and have a shit load of accounts so, do you really think you are going to get attention. I made a deal to myself and my clients that I only have room for X amount of households. Not everyone can say that. Most people get greedy and keep taking on clients. I am lucky to where I don't have to be greedy. A lady that I worked with for several years finally retired this past September. She knew how much I criticized our 401k because of the fees and it only contains exactly three index funds out of 22 funds available. So she asked me to look at her main portfolio invested with a brokerage with the initials W&R. She had nearly 500,000 in there and they had her spread out into about 20 different mutual funds that were under their name and not one and I repeat not ONE had a fee of less than 1%. Worse,they were ALL 5.75% load funds. They have made a great deal of money off of this trusting puppy. Her "advisor" though always sends her a Christmas card and a birthday card to let her know he is thinking of her.
Along with a hefty 1.25% AUM fee. You need to do somthing if you are going to charge a fee. That's really odd that she would have a front end loaded fund inside of a wrap account though. Maybe they were doing some weird stuff at that firm. Normally what you would see is that the firm would charge the client 1% wrap fee then put load waived A shares in the account to collect the other .25% 12-b-1....they can't do that anymore though. |
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Posted: 8/22/2017 11:29:47 AM EDT
[#26]
Quote HistoryQuoted:
Not surprising You need to do somthing if you are going to charge a fee. That's really odd that she would have a front end loaded fund inside of a wrap account though. Maybe they were doing some weird stuff at that firm. Normally what you would see is that the firm would charge the client 1% wrap fee then put load waived A shares in the account to collect the other .25% 12-b-1....they can't do that anymore though. I have no idea if the fees were load waved but once I looked them up there were loads. Why would ANYONE knowingly buy something with a damn load?? The only obvious answer I can think of is they absolutely have no idea what they are doing and is trusting someone working for them to make things good.
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Posted: 8/22/2017 11:32:35 AM EDT
[#27]
Roth IRA for a few years for each of you . Also thin out the amount of stuff you own. Fidelity and Vaguard for investment accounts. They have the lowest fees. Look at Clarkhoward.com for more and better advice.
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Posted: 8/22/2017 11:33:35 AM EDT
[#28]
GOLD AND SILVER COINS!!!1!!!!1
buy now so you can sell at peak silver! |
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Posted: 8/22/2017 11:41:04 AM EDT
[#29]
Quoted:
I have bought and paid for a small piece of land. 10 acres with a 1200 sq foot house. 20 minutes outside of a small town (12000 people at the last census) I make roughly $80k a year. Wife doesn't work. It's just the 2 of us. A 14-year-old child from the previous marriage who doesn't live with us full time, although I would like to change that. My credit sucks. Wife credit really sucks. However, over the last 10 years, we have learned to manage our money carefully. We don't buy what we don't need. Live very frugally. I am planning on putting up a greenhouse and a small garden. I don't want to have to buy vegetables at all, if possible. I would like to have a couple head of cattle for meat, but the property has no pens or crossfences, so not sure how feasible that is. Through a small inheritance, careful saving and a hell of a deal on the property, I have managed to purchase the property for cash, and have $88k left over. Here is the deal. Wife and I have decided that this will likely be our permanent home. We have no plans to ever leave. House has no real storage. 3 bedrooms, but they are rather small. And only one bathroom. We would like to add on. Enlarge the bedroom that we are in. Add some closet space. (Currently, we are using the middle bedroom as sort of a large walk in closet.) Each bedroom has a small closet, not much more than about 3 foot wide by maybe 2 foot deep. Add another bathroom. But there is no real hurry. House is an old clapboard house. What you would call a "shotgun" shack. It is well constructed and recently rewired and insulated. Pier and beam construction. New AC. We got it for a steal. $88k is in a money market account that earned maybe $200 last year. CD rates are ridiculous. Is there anything that we can do with the money that would return a modest amount, and not risk losing it. Stock market is out, as I have no doubt that whatever stock I picked would be doomed to bankruptcy. I could have ruined Apple and Amazon, if only I had had a few bucks to invest when they went public. Any advice? I know, I'm not asking for much, lol A real answer tho you are asking for: Short term Modest ROI Low risk low risk and modest returns in the short run is not a viable combination. I haven't read all of the replies so it may have been covered. The higher the ROI OR the shorter term for that ROI= high risk. When you combine high return and short run the risk goes even further up. Depending on the market in your AO flipping a home MAY be an option to achieve what you want but again the risk is present. With the housing market where my main home is in Indiana right now I wouldn't think twice about buying a single family home that needs work for 50-60K (in fact we have) putting the rest into it and flipping it because the market is nuts here right now and there are homes in the 50-60k price range that will sell for 100K + with 15-30k put into them as long as you're willing and able to do the labor to save on costs. Now the market where my second home is in Alaska right now there is no way in hell I would look at real estate as an income strategy. The nearby military bases have reduced troops and houses are sitting for sale for 6 - 18 months+ . So it depends on the market. We have flipped 2 single family homes in the last 18 months here in Indiana with an average ROI of about 28% and the turn around was 5 weeks for one and 18 weeks for the other from the time we bought it, did repairs then re-sold. |
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Posted: 8/22/2017 11:41:27 AM EDT
[#30]
Seriously though. How much do you need to set aside for an emergency? Common thought is at least 3 months wages. Set that aside in a money market account. How soon do you need the money you are investing? If not soon and you want low risk...mutual funds. Want a little bit of risk? Diversify..perhaps a "barbell" approach with some money in a higher average return stock and the rest in a mutual funds. Keep in mind if you use a broker you will pay a commission and you may have to leave it in there sometime before seeing a nice return. I have about 100k in my bank account and 100k invested beyound my 401k. I am holding off investing the rest because I plan on recasting my mortgage soon. |
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Posted: 8/22/2017 11:43:54 AM EDT
[#31]
More real estate in a hotter market, or vacation location that you can VRBO.
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Posted: 8/22/2017 11:45:33 AM EDT
[#32]
Honestly, real-estate. You can pick up a condo for that and maybe get your wife involved as the property manager. Very safe and better return than any safe market options. You can always dump it if you need the money back. Nice tax shelter too.
I wouldn't invest in the money markets right now unless you have a crystal ball, buying high isn't too wise. On the other hand, you can always gamble on it taking a header and then buying in. We're due for a correction. |
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Posted: 8/22/2017 11:56:05 AM EDT
[#33]
Quote HistoryQuoted:
She has been with them for a good number of years after leaving Merrill Lynch over years of poor performance. I have no idea if the fees were load waved but once I looked them up there were loads. Why would ANYONE knowingly buy something with a damn load?? The only obvious answer I can think of is they absolutely have no idea what they are doing and is trusting someone working for them to make things good. Quote HistoryQuoted:
Quoted:
Not surprising You need to do somthing if you are going to charge a fee. That's really odd that she would have a front end loaded fund inside of a wrap account though. Maybe they were doing some weird stuff at that firm. Normally what you would see is that the firm would charge the client 1% wrap fee then put load waived A shares in the account to collect the other .25% 12-b-1....they can't do that anymore though. I have no idea if the fees were load waved but once I looked them up there were loads. Why would ANYONE knowingly buy something with a damn load?? The only obvious answer I can think of is they absolutely have no idea what they are doing and is trusting someone working for them to make things good. Which one of those is going to be cheaper in the long run? Depending on the fund family, you can do exchanges down the road etc. |
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Posted: 8/22/2017 11:58:22 AM EDT
[#34]
As others have already said, with bigger gains usually come bigger risks.
I'm retired and investment protection is important to me - as part of my retirement investments I have a couple of index fund variable annuities with a GMAB (Guaranteed Minimum Accumulation Benefit) rider. I'm currently getting ~7.5% return on them and they are protected from loss if the market crashes - of course the rider is an additional cost, but at least I'm protected to my initial investment if everything goes to shit. http://www.investopedia.com/terms/g/gmab.asp http://www.annuitydigest.com/gmab/definition |
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Posted: 8/22/2017 12:07:18 PM EDT
[#35]
Buy low sell high. Where's the market right now?
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Posted: 8/22/2017 12:09:37 PM EDT
[#36]
If it is just the 2 of you, why doesn't your wife work?
She could be making enough money in a part time job when you don't have the 14 year old around to pay for the addition while keeping the 88k invested. |
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Posted: 8/22/2017 12:10:29 PM EDT
[#37]
Why does it have to be short term?
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Posted: 8/22/2017 12:14:21 PM EDT
[#38]
Quoted:
I have bought and paid for a small piece of land. 10 acres with a 1200 sq foot house. 20 minutes outside of a small town (12000 people at the last census) I make roughly $80k a year. Wife doesn't work. It's just the 2 of us. A 14-year-old child from the previous marriage who doesn't live with us full time, although I would like to change that. My credit sucks. Wife credit really sucks. However, over the last 10 years, we have learned to manage our money carefully. We don't buy what we don't need. Live very frugally. I am planning on putting up a greenhouse and a small garden. I don't want to have to buy vegetables at all, if possible. I would like to have a couple head of cattle for meat, but the property has no pens or crossfences, so not sure how feasible that is. Through a small inheritance, careful saving and a hell of a deal on the property, I have managed to purchase the property for cash, and have $88k left over. Here is the deal. Wife and I have decided that this will likely be our permanent home. We have no plans to ever leave. House has no real storage. 3 bedrooms, but they are rather small. And only one bathroom. We would like to add on. Enlarge the bedroom that we are in. Add some closet space. (Currently, we are using the middle bedroom as sort of a large walk in closet.) Each bedroom has a small closet, not much more than about 3 foot wide by maybe 2 foot deep. Add another bathroom. But there is no real hurry. House is an old clapboard house. What you would call a "shotgun" shack. It is well constructed and recently rewired and insulated. Pier and beam construction. New AC. We got it for a steal. $88k is in a money market account that earned maybe $200 last year. CD rates are ridiculous. Is there anything that we can do with the money that would return a modest amount, and not risk losing it. Stock market is out, as I have no doubt that whatever stock I picked would be doomed to bankruptcy. I could have ruined Apple and Amazon, if only I had had a few bucks to invest when they went public. Any advice? I know, I'm not asking for much, lol What do you want to do with the money, and does that have anything to do with the need to be short term? |
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Posted: 8/22/2017 12:23:56 PM EDT
[#39]
No risk? There are savings accounts that pay about 1% (Amex FSB) and CDs that pay 1.5% - 2% if you're willing to lock up the money for a year or two.
Wondering why your credit is trashed when you've been living frugally for a while. Possibly knock out a wall to make two bedrooms into one? Not sure why you're against buying veggies and meat at the local grocery. You're gonna spent a boat load of money on a green house and cattle / pens to save what? |
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Posted: 8/22/2017 12:24:17 PM EDT
[#40]
Get into a mutual fund that indexes off the S&P 500. It spreads your risk around. One of my current S&P 500 linked mutual fund has returned 11% so far this year. The Fidelity 500 Index Inst (FXSIX) has returned 16%. The Dodge & Cox Balance fund (DODBX) has returned 17%. These are just a few off the top of my head. I don't consider these high risk. They are higher risk then bonds or CDs definitely. However even the three year and five year returns are above 10%. And they can fluctuate month to month. But the return so far has been good.
My advice is to ask around for a good investment advisor if you cant figure out how to invest in mutual funds on your own through a website. |
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Posted: 8/22/2017 12:27:58 PM EDT
[#41]
Quote HistoryQuoted:
I made +45% in crypto currency last month. I've made +3000% in the past 12 months. It IS risky, but the payoff is huge. GD will now flame me. Good luck, OP. Anyone who criticizes, hasn't been in this game for long. Anyone who Gloats, is a babe that needs his Mama's Titty. Supply and Demand. Irrational Exuberance, vs. Panic!!! Make hay while the sun shines. It's not a zero sum game, but close. If you made money, it's because some other poor, sorry MF'er is about to lose his shirt.
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Posted: 8/22/2017 12:52:55 PM EDT
[#42]
I would never invest in single stocks but the vast majority of my money is in mutual funds. I suggest VTSMX. This fund owns virtually every company in the stock market. Instead of puttting your eggs in one basket it is more like riding the wave of the market as a whole which is generally up. It won't perform as as good as some single stocks or very targeted funds but it is not near as risky. For each share you buy at the current price of around $60 you get a tiny percentage in ownership of over 3,600 stocks. In my mind it is about as safe and diversified you can get with a single fund and the fees are ultra low.
If you are not comfortable doing this then you are basically stuck with your low percentage returns at the bank. |
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Posted: 8/22/2017 1:10:10 PM EDT
[#43]
Do you have any debt?
Maxing out 401k is a good way to go also limit is $18,000 this year you could peal off some every year. If you are over 50 something I think you get an extra 5k limit |
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Posted: 8/22/2017 1:13:22 PM EDT
[#44]
Quote HistoryQuoted:
He can lose a hell of a lot more than 5-10%. OP... All investing has risks. CD's are fdic insured so zero risk there. Go to depositsaccounts.com to find better rates than local. Quote HistoryQuoted:
Quoted:
The whole market can go down however and he can lose 5-10%. OP... All investing has risks. CD's are fdic insured so zero risk there. Go to depositsaccounts.com to find better rates than local. |
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Posted: 8/22/2017 1:27:24 PM EDT
[#45]
You are *asking* for financial advice? Sounds like you should be *giving* advice here!!
Put some of that cash in your home, and upgrade whatever you'd like. You're not spending that cash, you're moving it into your kitchen/bathroom/whatever. Plus you'll enjoy it. If you want some stock advice, Verizon or AT&T are stable investments paying 5% or more. People are always going to be spending money on their cell phones. |
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Posted: 8/22/2017 2:59:37 PM EDT
[#46]
Quote HistoryQuoted:
Do you have any debt? Maxing out 401k is a good way to go also limit is $18,000 this year you could peal off some every year. If you are over 50 something I think you get an extra 5k limit |
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Posted: 8/22/2017 3:05:53 PM EDT
[#47]
FBIOX made me over 24% this year
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Posted: 8/22/2017 3:09:30 PM EDT
[#48]
Quote HistoryQuoted:
Wondering why your credit is trashed when you've been living frugally for a while. But man did I have fun with the plastic money in my 20's. |
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Posted: 8/22/2017 3:15:26 PM EDT
[#49]
The key to stocks is the low overhead index fund. Any singular stock choice is high risk. By buying a whole market or S&P Exchange Traded Fund (ETF), you diversify risk.
I like Vanguard's VOO and VTI funds. Overhead cost is .04%/yr. The lifetime average of the S&P 500 is about 11%. It will have up times and down times. It normally doubles roughly every seven years. Historical lows have been about half of peak valuations. So if you have seven good years in a row, your stock valuation will most likely never dip below your initial investment. Full disclosure, market p/e is high right now and I believe we are due for around a 20% correction. If you put 10k in a Vanguard account you wont pay any fees and as long as you just buy/sell vanguard ETF's, they won't charge any buy/sell fees. Fidelity also has some good options. If you plan to sit on the money for a long period of time, your almost always better off in the market. The market can perform so well because people go to work for you every day. |
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Posted: 8/22/2017 3:17:53 PM EDT
[#50]
Quote HistoryQuoted:
He can lose a hell of a lot more than 5-10%. OP... All investing has risks. CD's are fdic insured so zero risk there. Go to depositsaccounts.com to find better rates than local. |
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