1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.

What to do with cash

Discussion in 'BlackHat Lounge' started by clopper, Nov 14, 2010.

  1. clopper

    clopper Regular Member

    Joined:
    Dec 3, 2007
    Messages:
    300
    Likes Received:
    94
    Occupation:
    Food and Beverage Director
    Location:
    USA
    single male, apartment set up with creature comforts, nice car and a girl.

    What else to spend money on?

    Ideas?
     
  2. Salvia1111

    Salvia1111 Newbie

    Joined:
    Oct 6, 2010
    Messages:
    46
    Likes Received:
    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.
     
  3. alexandraM

    alexandraM Junior Member

    Joined:
    Aug 4, 2010
    Messages:
    136
    Likes Received:
    39
    heroine?
     
  4. jmsks33

    jmsks33 Registered Member

    Joined:
    Jan 25, 2010
    Messages:
    67
    Likes Received:
    26
    Occupation:
    Drinking is a full time job,and job must be well d
    Location:
    San Diego, CA
    Home Page:
    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
     
    • Thanks Thanks x 1
  5. wqnx00

    wqnx00 BANNED BANNED

    Joined:
    Oct 30, 2010
    Messages:
    18
    Likes Received:
    1
    Buy weed man. :D
     
  6. clopper

    clopper Regular Member

    Joined:
    Dec 3, 2007
    Messages:
    300
    Likes Received:
    94
    Occupation:
    Food and Beverage Director
    Location:
    USA
    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
     
    • Thanks Thanks x 1
  7. navycliper1

    navycliper1 Regular Member

    Joined:
    May 6, 2010
    Messages:
    254
    Likes Received:
    43
    you kidding me
     
  8. saxgod

    saxgod Regular Member

    Joined:
    Sep 19, 2010
    Messages:
    351
    Likes Received:
    337
    give some to me :p 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 :p
     
  9. Twizzler

    Twizzler Newbie

    Joined:
    Nov 4, 2010
    Messages:
    33
    Likes Received:
    7
    Occupation:
    Typing code.
    Location:
    Lost in cyberspace
    get another girl... once you got a couple on the go the money disappears quick!
     
  10. izm

    izm Regular Member

    Joined:
    Feb 7, 2008
    Messages:
    474
    Likes Received:
    230
    nah... give 50% to sicky and needy, and other 50% spend on weed and tie dye.
     
  11. BENNY8877

    BENNY8877 Supreme Member

    Joined:
    Jan 4, 2010
    Messages:
    1,277
    Likes Received:
    1,087
    Occupation:
    Wallet Inspector
    Location:
    In my mom's basement
    Buy property
     
  12. bigpurpleguy

    bigpurpleguy Junior Member

    Joined:
    Nov 28, 2009
    Messages:
    171
    Likes Received:
    103
    Occupation:
    Phone Verifier
    Location:
    Florida
    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.
     
  13. m0nster

    m0nster Senior Member

    Joined:
    Oct 20, 2010
    Messages:
    1,044
    Likes Received:
    1,003
    Occupation:
    Offline Marketing
    Location:
    USA
    invest, save it, get new ventures and outsource the work with the money. TRAVEL! enjoy life outside your town! buy a monkey and train him to do cool tricks. pay money to blackmail hillary duff. goto a lakers game. pay lobbyest to legalize crack. [​IMG]