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Posted: 12/8/2002 9:30:01 PM EDT
I have 10k that I want to turn into 20k,40k,80k and so on. I am being serious, and am not looking for replies like "Buy a few SMG's for the SHTF" I just want to know what you think would be the most sound investment to turn around a cash profit. So far I have come up with: 1 - Buy some cars at auction then sell them privatly.(Takes time and I dont want to be a used car dealer) 2 - Gamble with ETRADE(risky small reward) 3 - Down payment on a Rental Property(headache) 4 - Get some Ideas from you!
Link Posted: 12/8/2002 9:33:40 PM EDT
Link Posted: 12/8/2002 9:34:01 PM EDT
I'd go with 2 but the safer route would be 3.
Link Posted: 12/8/2002 9:37:28 PM EDT
[Last Edit: 12/8/2002 9:38:37 PM EDT by Spade]
I'd buy an HK 53. Not because the SMHTF, but because I'd have a fuckin' HK 53. Money comes, money goes. You might make more, you might not.
Link Posted: 12/8/2002 9:47:57 PM EDT
Savings account.
Link Posted: 12/8/2002 9:50:31 PM EDT
Invest only in what you grok.
Link Posted: 12/8/2002 9:56:04 PM EDT
If anyone knew how to reliably and safely double there money don't you think everyone would already be doing it? There is no easy, full proof way to double your money. The best you can hope for is to beat inflation and make a modest return over a given time period. Historically, nothing has beaten the stock market over the past 100 plus years, but you have to be willing to leave the money in the market and you have to be willing to accept the losses that come with a bear market and you can't simply buy 1 or 2 stocks and hope they are good. With 10k you would have to buy some market index mutual fund, or similar asset that would diversify your risk. If you don't want to wait, go gamble and bet it all at one time. That way you will either have instant gratification, or your problem will be solved and you won't have the 10k to worry with.
Link Posted: 12/8/2002 10:08:46 PM EDT
Well, believe it or not, an M-16 would be a pretty good investment to start on. Buy one now for $9000, and in 3 years it'll be worth $3000 more I bet. The price on them has jumped dramatically in the last 3 years. The way the stock market has been (and it's NOT going to get better ANY time soon), it's a MUCH safer investment. If you shoot it sparingly, and keep it in good order, I don't see how you could go wrong. Just something to think about.
Link Posted: 12/8/2002 10:11:35 PM EDT
no NFA waepons in my state, sorry [:(] also before long all guns might end up with the .gov
Link Posted: 12/8/2002 10:12:24 PM EDT
What's your risk tolerance, time frame, and how much losses can you endure without losing sleep? The numbers you're seeking to gain are quit unrealistic, though not entirely impossible, in a legal sense. Just remember the rule of thumb is that the higher the returns, the greater risk of losing your entire capital. With that said, you can trade futures options if you are comfortable with commodities, stock index, bonds, OR you can always take your chances at Vegas. Personally, if I didn't need the money anytime soon - at least 3 to 5 years down the line, I would dollar cost average by moving it into a stock index fund such as SP500 or Wilshire 5000. Your other best investment is probably to invest in yourself by starting your own business.
Link Posted: 12/8/2002 10:19:03 PM EDT
Two words: illegal substances. You can turn 10k into 20 pretty quickly. You can then turn the 20 into 40, and so on. It can't lose man, and neither can you. The sky's the limit. Not only that, but you'd be the most popular guy in your neighborhood! Dirty hippies that you never even met would all of a sudden come out of the woodwork, you'd have more friends than you'd know what to do with(except that you do: get them to sell to their hippy friends, and you would be their supplier.) Man, the shit you come up with when you shoud be writing a paper late at night. But still, lotta money.
Link Posted: 12/8/2002 10:19:28 PM EDT
Take 5k and buy some Ericcson stock...Look at the charts.
Link Posted: 12/8/2002 10:31:15 PM EDT
"start my own business ehh...." didn't Homer Simpson say that once? I really would like to Start up a biz, but which one? As far as the market goes, I really am not cut out for it. I did alot of trading early this year, I won some and lost some, thankfully in the end I broke even. I was doing a 2.5% hold plan playing the news and sell on the rebound. Ex: buy 600 of INTC at 17.00 ( this is assumed to be a down day on the NASDAQ ) hold until you see a change +1% to +2.5% dont get greedy and stop loss at -8% sell at 17.42 (+2.5%) for a profit of $255 minus taxes and commissions leaves you with about $200 not bad! Do that a few times a day, and you are looken pretty. I did well then took a bad streak with TARGET <---%&*#er's, It just takes ALL my time researching a stock reading the news. And all the while if some Terrorist decides to kill some people I Loose money! I am even now and have learned ALOT, for that I feel I got the education for free...but I did give up some of my nerves in the process.
Link Posted: 12/8/2002 10:37:35 PM EDT
hmm I didnt know ericsson was back, they do have some sweet phones out. [url]http://finance.yahoo.com/q?s=ERICY&d=t[/url]
Link Posted: 12/8/2002 11:24:14 PM EDT
Risk v. Reward tradeoff. I'd try to preserve it using 82ndAbn's strategy. Alternatively: 1. I never knew anyone with a lot of rental property headaches that wasn't financially well situated. 2. Coca Cola. Used to be selling soda was just like printing your own money. Production costs were a few cents a can for water, sugar, and flavor. It was/is almost all profit. Now,there is something better for them. With Dasani water, they've cut out everything but the water!
Link Posted: 12/8/2002 11:32:38 PM EDT
you got that correct on the coke/water thing, definatly if the coke is canned <.20 cents cost for most distributors and water is around there also. Water is most likely the highest profit cause since its bottled, they turn around and sell it for $1.00. As far as money investments goes, if you can't stand to loose it, put it in long term cds. Or buy 10k worth of mags(niw) crate them and sit on that nest egg. I think the awb will go away for at least a while in 2004 but I think that mag prices will never go back down but most likely up. Oz
Link Posted: 12/8/2002 11:42:43 PM EDT
Take 5k and buy some Ericcson stock...Look at the charts.
View Quote
Chart doesn't look as good: [url]http://quotes.barchart.com/texpert.asp?sym=ERICY[/url] Down Firday in after hours trading: [url]http://quotes.nasdaq.com/quote.dll?mode=frameset&kind=&symbol=UAL&symbol=&symbol=&symbol=&symbol=&symbol=&symbol=&symbol=&symbol=&symbol=&FormType=&mkttype=&pathname=&page=afterhours&selected=ERICY[/url]
Link Posted: 12/8/2002 11:54:34 PM EDT
Money market fund.
Link Posted: 12/9/2002 12:02:22 AM EDT
My cash is in a Money Market Fund right now, its realy slowwww. With almost no return. Even a CD would be better, But still too slow for me. ericy was a 200 doller share now down to 9.50, can you say "bad company", it might go up a few cents or down a few cents. who realy knows, but the overall trend for ericy has been down, only recently has it came up a few dollers, I dont think if the market will support a few more dollers.
Link Posted: 12/9/2002 1:42:45 AM EDT
What is your time horizon? If less than 5 or 10 years, you need to pick something safe like a CD - though you're only likely to get an annual return of 5% or so. Longer term, choose an index mutual fund or a balanced managed fund. Don't put all 10K in at once, dollar-cost average (invest a fixed amount, say $500-$1000, every month). Use the "rule of 72" - take the annual percentage return and divide 72 by it. The result is the number of years it will take for your money to double. (e.g. at 10% it will take 72/10 or just over 7 years to double).
Link Posted: 12/9/2002 1:56:50 AM EDT
dmass, 7 years is a Very long time to double your cash, I dont consider myself THAT scared of risk. I am aggressive and realy not to scared of losing it, I just want a fighting chance, ya know. Doller Cost Averaging is good, if you want to build up a nest egg for retirement, that is not what I want to do. I have an IRA for that. I believe money is meant to be enjoyed, and thus am looking for aggressive alternatives to the Market gamble. I am also searching for financial freedom. (heard of Robert Kiyosaki?)
Link Posted: 12/9/2002 5:14:19 AM EDT
Depends on your skill, knowledge level and willingness to devote a lot of time to something. With $10,000., it would be equity options for me. But, you have to do the research, watch like a hawk, and have the nerve. If you're not willing to do that, then I'd recommend putting half in Savings bonds (tax deferment), the rest in a savings account. Take the low yield if you are risk averse (though I don't think you are). As an aside, I get the biggest kick out of people who whine about how much they lost in accounts, as if it's someone else's fault, and somehow some other third party should make it good. If you can't manage it, tough shit. This socialist nonsense of entitlement without doing what it takes is sickening and is ruining this country. If one won't or can't, then don't expect. NOT directed at poster, just a rant from my soapbox, related to subject matter.
Link Posted: 12/9/2002 5:26:33 AM EDT
Personally, I would buy a stock index fund and let it ride. Especially if this is an inheritance. GunLvr
Link Posted: 12/9/2002 6:42:51 AM EDT
[Last Edit: 12/9/2002 6:43:44 AM EDT by Bob243]
Originally Posted By 82ndAbn: Series 'I' bonds, short term CDs, and an IRA (either for you or for your kids' education).
View Quote
I would probably do this also.... or perhaps Land (depending where you live)
Link Posted: 12/9/2002 6:50:58 AM EDT
Real estate. Buy, upgrade, sell. Carry your own contract or not, your choice...
Link Posted: 12/9/2002 6:54:54 AM EDT
here's what I would do... Pay off credit card debt. Pay a little extra on my car. Put what's left in a mutual fund, so I have access to it.
Link Posted: 12/9/2002 7:05:06 AM EDT
[Last Edit: 12/9/2002 7:06:45 AM EDT by stator]
It depends upon your cash flow situation. If it is very bad and you have credit card debt, then take the above replier's advice. If you do not have a cash flow problem, here's what I would suggest looking into: 1. Invest the first $5K in tax-exempt account like an IRA, medical savings and college savings account (the later doesn't require you to have any kids or be married yet). Here, you want to start the pattern of paying regularly into these accounts on an annual basis. The IRA account will have some tax rules if you have an employer 401K, BTW. 2. Invest the next $3K in CDs, bonds, or other termed invested. You will need to look long and far for the good rates though. Most have lousy rates unless you choose a longer term. If you look, you should get good rates for 6-12 month terms. 3. Take the last $2K and invest in the stock market only if you have the time and willing to work at it. I invest the short-term cycles in the tech sector for stocks like PSFT and ATML. ATML (Atmel has been great for me lately). I invest like this in the tech sector because this is the industry I work in. Therefore, it is easier for me to follow trends. If you want to do this, check the stocks in your industry. If you don't like being a short-term or day trader, invest in the index funds.
Link Posted: 12/9/2002 7:18:13 AM EDT
Link Posted: 12/9/2002 7:29:16 AM EDT
Matthew's got good advice for us all. Take that money to pay down any debts you have! It is likely that your debts will cost you more than you will reap from investing that 10k.
Link Posted: 12/9/2002 7:36:57 AM EDT
gaspain, you list AS as your state-exactly what is/where is that?
Link Posted: 12/9/2002 8:22:45 AM EDT
[B]A[/B]ny [B]S[/B]treet, USA No debt, except for my car. I dont want alot of equity in the car, its a losing bet.
Link Posted: 12/9/2002 8:30:22 AM EDT
I see, thanks.
Link Posted: 12/9/2002 9:19:09 AM EDT
There's a tradeoff between risk and return. Anything that will double or triple your money in a short period of time also runs a good probability of losing everything. If you've got credit card debt, pay it down. If you don't have an IRA, open one. This lets the investment grow tax-deferred until you withdraw it. The money market accounts that most cash in IRAs is kept in return maybe the inflation rate. You'll need to invest the money in something below. If you're willing to accept risk, you can buy individual stocks. This is pretty much a crap shoot, though. Mutual funds reduce the risk of individual stocks. Index funds are excellent because they have low management fees and usually have better overall returns than managed funds. Look at S&P 500 index funds (big US companies), or Wilshire 5000 index funds (the entire US stock market). This won''t lead to sudden wealth, but on average you'll probably get about 7-10% per year, which means you'll double your money maybe every 10 years. You could buy bond index funds, which traditionally have less variability than stock index funds, along with a lower return. But interest rates are at historic lows right now, and when they go back up bond prices will fall. If you're renting and you live someplace with reasonable housing costs you might be able to swing a house or condo purchase. This has tax advantages and lets you change your rent payments into something that builds up equity. Certificates of Deposit are OK for short term investments, but they'll return only a little more than inflation. The US i-series bonds are interesting in that they return a fixed percentage over inflation, something like 3%. So they're probably a better bet than CDs.
Link Posted: 12/9/2002 9:21:47 AM EDT
Send it to me.
Link Posted: 12/9/2002 9:52:07 AM EDT
I am also searching for financial freedom. (heard of Robert Kiyosaki?)
View Quote
I've read a few of his books. IMHO, his books are good stuff. The point of his I most strongly agree with is, Don’t work for you money; make your money work for you. My suggestion to you? Find a duplex/triplex that needs a little work (or a lot of work if you are capable of doing the majority of it.... I once thought I could re-roof a house my self but that’s another thread [:)]) put some sweat into it getting it into shape, and then rent that puppy out. As long as your rental income is more than your mortgage payment, you’re good to go. You will have some headaches for 15/20 years as you amass your empire [;)] dealing with tenants, late payments, replacing refrigerators. It can be a [b]major[/b]PITA. The payoff for all the stress comes when you have a few buildings free and clear. You should have enough income at that point to hire a [b]BONDED[/b] management company to handle things and send you checks.[8D] echo6
Link Posted: 12/10/2002 6:08:44 AM EDT
Thank god I didn't buy ERICY!!!, it dropped over 10% in 2 days!
Link Posted: 12/10/2002 6:13:19 AM EDT
As a general rule, the slower your money is growing the safer it is. You can take risks with it and make lots, or do something safe like buy a 6% or whatever CD and not make too much. It all depends on how much risk your willing to take and how much growth your looking for.
Link Posted: 12/10/2002 8:26:31 PM EDT
of course the best thing you could do is see a reputable financial consultant. Of course you don't want to tie up your money for a long time right now if you think that the economy will get better and interest rates will rise...suppose you get a 20 year CD at a fixed rate...rates being what they are right now...statistically they are almost certain to have a higher average over 20 years than today's rate. While paying debts is great...nobody like to be in debt...with interest the way it is, acquiring fixed rate debt is the best investment you can make right now. Consider making additions, improvements to your home that will give you greater equity (not just remodeling by putting up wallpaper, putting in new carpet, etc.) Another option is investment grade bonds.. It's almost universally true that the money to be gained is commensurate with the risk. Keep that in mind when choosing your investment.
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