What to do with cash
- Thread starter clopper
- Start date
Salvia1111
Newbie
- Oct 6, 2010
- 46
- 2
Should start giving 10% to the poor/sick/needy.
Take another 15% and save it for a house. And if you can, another 10% for retirement.
Take another 15% and save it for a house. And if you can, another 10% for retirement.
alexandraM
Junior Member
- Aug 4, 2010
- 136
- 39
heroine?
jmsks33
Registered Member
- Jan 25, 2010
- 69
- 28
BMW X6 M series, is a good option, also you might wanna try a yacht, or a cool motorcycle and Go to Monte Carlo for some real fun (don't take you GF with you)
Juts make sure you always have a strong whiskey on your side, and a dog on the other.
And if you have any money left after that, Get married,invite all of BHW members to your wedding, and pay for our trip/advice, have 5 kids, and work to have a happy family
Juts make sure you always have a strong whiskey on your side, and a dog on the other.
And if you have any money left after that, Get married,invite all of BHW members to your wedding, and pay for our trip/advice, have 5 kids, and work to have a happy family
clopper
Regular Member
- Dec 3, 2007
- 300
- 107
not to be cruel but I pay in the 5 figures as far as taxes and when I buy food I feel like I'm the last person in the world without a food stamp card, so giving to the needy/poor doesn't really interest me beyond what I'm paying in taxes
navycliper1
Regular Member
- May 6, 2010
- 254
- 43
you kidding me
ThePacketeer
Regular Member
- Sep 19, 2010
- 373
- 354
give some to me 
lol
no seriously. just stack it up in the bank or invest it
buy what you want or need
i want to buy a house soon so thats my target
but its hard not to buy a gadget from time to time
lolno seriously. just stack it up in the bank or invest it
buy what you want or need
i want to buy a house soon so thats my target
but its hard not to buy a gadget from time to time
izm
Regular Member
- Feb 7, 2008
- 497
- 245
nah... give 50% to sicky and needy, and other 50% spend on weed and tie dye.
bigpurpleguy
Junior Member
- Nov 28, 2009
- 171
- 103
I see... Someone who lives in the Northeast or in California...
Don't buy a f$#$ing boat it will eat you alive. If you like to go boating join a membership club or rent. Don't let your ego make you have to own.
Unless you want another girlfriend...
Don't buy any property that doesn't pay for itself (if you live in it it pays for itself because you would be renting so you are your own tenant) because it will eat you alive.
If you buy land, taxes will eat you alive. And they are going to get worse really fast because municipalities are going to raise taxes on investors because Ma and Pa Jones won't stand for taxes going up on their primary residences. Ma and Pa are going to see their taxes go up 20%, investors much more.
If you buy income property, make sure you can manage it yourself or make sure there are enough units so that it makes economic sense to hire someone to manage it for you. There are people who make good landlords and there are people who don't. If you are a nice guy who basically takes people at their word don't even think of managing property yourself.
If you buy vacation property, make sure you can pay most of the costs with seasonal renters, and if you are very conservative, make sure you can rent it annually as well. If you depend on seasonal renters and there's a bad season, you may get ZERO dollars for the whole year, so make sure you account for this. Some vacation properties have association fees that are larger than some people's mortgage payments.
Personally, if it's property for 10-20 years down the road, I'd buy something in Latin America. Taxes are virtually nonexistant and if you buy a house or estate you can hire someone to look after it for you for almost nothing.
Costa Rica is nice and safe and they speak English.
Remember, if this is a long-term buy you have to factor in the Baby Boomers. The oldest are 65 this year- whatever they invest in is going to be a bubble and it is going to pop, as they are the richest, best-educated group of retirees in the history of mankind, and they have a sense of entitlement unmatched by any generation. GenX-ers are going to inherit whatever wealth they don't piss away but will have different tastes.
