I’ve been saving every penny and dime ever since i started working. (7 yrs). I don’t own a house but have paid off all my debts. I hate being in debt and mortgage system and don’t feel like buying any property in insanely expensive bay area. Any recommendations for a better investment area than stocks ? (PS: plz no crypto bitcoin nonsense)
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- Google / Eng goog|emoreNo house. No stocks. No crypto. Cash is the only option I see.
- Qualcomm / Eng elitistmoreMoney is a tool, if you're not using it to make yourself happy, it's doing you no good. You could die tomorrow and this money will go to other people. If you need a house buy a house. If you want to travel the world, then travel the word. If you always wanted to start your own business then do that. If your life is comfortable and you wish for nothing more then perhaps you may be inclined donate to charity of your choosing.
Point is in life if you don't use, you'll most likely lose it. So if you want to just put it somewhere and earn a return dividend paying stocks are a good alternative.
- It depends on what you mean by "better". The reason so many people invest in stocks and bonds is because it's easy to control risk and almost anyone can do okay in the long run. But there are lots of appreciative assets out there but it depends on your interest and risk tolerance. Here are a few:
1. Art- before anyone says "modern art is stupid. My 4 year old can do it etc" that's not the point. It's supply and demand and there's a decent way to "diversify" by including some of the recognizable masters in your portfolio. Check out Arthena for ideas. It's an investment fund for fine art.
2. Swiss watches- vintage Rolex and Omega have skyrocketed recently. Same for historically significant pieces like one of the first chronographs or complex movements like minute repeaters or tourbilions. For example a Rolex Paul Newman has jumped from about 13k in 1993 to over 70k today at auction.
3. VC- 500k is plenty to seed a few startups that you find interesting. This is pretty popular in the Valley these days.
4. Real estate- consider investing in a condo or commercial property in a booming US city. Nashville, Austin, Denver have all been doing well.
The list is endless. It's hard to give a good answer without knowing what you are interested in and how much you're willing to risk. I'd honesty suggest take half and out it in a diversified equity/bond portfolio to save your ass and use the rest for some alternative investment project.
- Uber TPSReportHeritage Auctions. One of their reps will be happy to discuss options with you, make some suggestions, etc. Mind you, they’re professionals.. they’re not there to make a quick buck, they’re in it for long-term (profitable) client relationships. If it’s not for you, they’re unlikely to try and hard sell you on anything.
But yeah, these are hobbies are that typically generate a return on investment, in a non-stock market vehicle, and you can treat it as a business and take a tax deduction (against your profits) on what would otherwise be a “fun hobby”.
But make no mistake, this is active investing, you need to put in a lot of time into it, it needs to be something you enjoy. It should actually be fun for you.
- I am 34 year old .. Drives 10 year old sonata which can die anytime. My 401k is 50K and saving are 60K
Other than that I lost some 60K in some family dispute . Sometimes I think it will be challenging to get a home, kid and retirement planning ..
That's why I posted the word *insignificant*
- We cant all statistically be at the same point, that’s why I only comments on issues I have direct knowledge of.
I don’t troll.
While I’ve never had 500K in cash, I have saved and invested multiples of that to a point that it will be very ungracious of me to complain about anything.
I like my money to work for me. And I’ve earned it through blood sweat and tears that I will not piss it away on a frivolous investment.
To me, that includes bitcoins. (This is my position, couldn’t care less about other people’s view of my position)
Unlike many people here I do my IT in the Midwest. Which means,I have had to build my wealth the hard way without the multiplier effect of massive bonuses and RSUs
- Microsoft HGqw60DM me for the details on who to make the check out to & where to send...
- New / Eng nordjayassmorePeople. Hire a few people around your local community at minimum wage. Have them learn and teach the community coding so they get better. Give them insight to get a better job, help them financially with no expectations. 500k can change many people's lives and they will do much better with your guidance than whatever shit the government can do. Make them successful, and you will find yourself surrounded by success
- I’m stunned this has 15 likes.
OP has worked hard to save 500k for himself. Still has a job.
Your response is donate all the money and all your time to help the “community”
This is first class silliness.
OP do this and expect to spend “retirement” as a Walmart greeterSep 22, 2017 2
- Buy a piece of land and build a house in the Bay Area. Somewhere with a commute of 50 minutes or less.
- @MachoMan it depends on a few things. A big one is you. If you're a reasonable person that can plan and get shit done then it's cool. Also don't bite off more than you can chew essentially financially. That means: be able make reasonable compromises. Most people are herd animals so that's why you don't see it a lot. But game it out and assume you build s new family home inside that 50 minute commute radius. Unless you just go crazy or buy a plot in a crime infested area...you'll start with a brand new custom home in say 2018. You'll have instant equality and something that if you needed to you could liquidate. Plus it will be way nicer than the million dollar plus 1970's vintage fixer uppers that litter Silicon Valley.
Now you'll also need balls of Steele unless you're very rich. The cities and counties vary. But Santa Clara and Santa Cruz counties aren't bad really. San Francisco on the other hand is barking mad insane.
Now builders and architects. If you build in the flats you won't likely need an architect unless your Mr. Fancy pants. A draftsman will do and you can even order your plans online. If you build on a hillside around here you're going to need an architect. Many builders also have on staff architects so you'll have ample choices. Anywhere you build you'll need engineering, soil and environmental but unless you're building on a cliff side over an Indian burial ground infested with delta smelts it's not that much. From the moment you buy your land until you're bee bopping across your new threshold expect it to take about a tear. The more complicated you make it the longer it will take.
Oh last thing and actually really important: you'll need a buyers' agent that specializes in vacant land. Don't waste a second of time on a traditional real estate agent. They mean well but are incapable of doing what's required in this sort of endeavor. All these know how to do is sell three bedroom two bath track homes and drive around in expensive cross overs. Commissions are also less on raw land and the stuff you'll need to know is completely different from what the soccer mom in the Q5 is going to be able to address for you.
Hope this helps.Sep 22, 2017 9
- General Motors FNmc07Buy bitcoin
or ethereum and some altcoins and hodl to the moon
This comment was deleted by original commenter.
- I won’t touch the first part because it’s silly. Somalia has no credit system. I doubt it’s a utopia. But whatevs.
Part 2 is what I want to focus on. And that’s because you’re completely wrong. You’re thinking purely about mortgage interest deduction. Sure that exists. You want to know other tax breaks you get without debt? 401k, 529, FSA, HSA, SEP, SIMPLE, muni bonds, Section 179 deductions, green credits, gulf zone, charitable giving, childcare, job search, educator... need I go on?
Learn your facts, it empowers you.
- WSP / Mgmt LQRI84moreGo on a long trip and save or invest the rest, there is every chance the skills which made you 500k may not be relevant in a few years time, I'm 50yrs old, changed career 3 times and country twice, I've been lucky but I've seen people go from Scrooge McDuck to their parent's basement and wondering WTF happened.
- I don't care what you do with that money but for gods sake stay away from the crypto-currency bullshit hype that's been going on right now. All of Silicon Valley right now is on bitcoins dick getting fucked really hard in the ass. Nothing but a big bubble brought about by gullible Chinese people and it is about to burst.
- Like I said as a money transfer medium it is valid. But so is PayPal! Would you invest in PayPal coins if they had them? Don't think so. Yet so many people believe that investing in these coins is somehow profitable based on how it has performed in the past. So my argument with the bag of shit is valid. People don't care about what they are actually buying they care about how it has increased its value in the past.
- Envestnet / Eng oCig74@mobman PayPal is completely different from bitcoin. The majority of the world's population cannot use Paypal because they do not have a bank account. Bitcoin circumvents the banks completely. Anyone with a smartphone can transfer value anywhere they want in the world. And of course there are going to be speculators, this is a brand new and exciting technology. Just because there are people speculating on prior performance does not automatically mean it is shit. My advice to you is to really study what bitcoin is, and do not let the mainstream media brainwash you.Sep 27, 2017 0
- New / Product 🔥Mobman🔥more@oCig74 Bitcoin is shit and you know it. No matter what the price of it is, it still depends on the real-life value of products or services. No one I know who is smart would sell their car in bitcoins or any other product or service given it’s crazy volatility. It’s like buying stuff from Nigeria. Or speculating in a currency from a developing nation. You don’t know what the fuck you are buying. So what exactly do you get for the 4-grand? A bunch of 1s and 0s? The ability to transfer money? What do you get? Exactly you know what you get for it? NOTHING! NADA! ZIP! ZILCH! You get hope. The same stuff that made the casino mob owners in Vegas super rich! Look - I’m not saying don’t waste your money. If you are stupid enough to speculate on shit disguised as hope be my guest. But to say that a new technology is somehow a great investment based on its prior performance is flat out wrong. You can hurt a lot of stupid people that way financially. You should stop.Sep 30, 2017 0
- Same boat. Have 500k in cash, split across 2 high yield savings accounts. I’m just holding it for now until I feel the next bear market is near bottoming out. Not touching stocks right now.
Planning on seeing what jobs I can find in cheaper cost of living areas and plan on buying 2 homes. One rental income and another as primary residence. But that’s dependent on the condition of the housing market.
My advise is to just be patient. It took a long time to acquire this money. Sit on the fence until conditions look right.
- Depends. I don’t think stocks will still be continuing up 5 years from now. I only recently cashed out from stocks. But if housing doesn’t correct, I may buy anyways. Don’t want to rent forever. Either way, I’m probably relocating out next year unless I get another big pay bump to convince me to stay.
- Apple / Eng bender-😒moreThat’s an inspiring story of time in the market vs timing the market. But I think the more immediate goal here is people invest in the stock market for financial goals 5 years in the future. When your timeline is that short, we have to be aware of bad times to enter the market.Dec 2, 2017 0
- Uber lWDf73you can take it, quit your job, and try to find your passion. maybe that will align with a business idea or something that will take your life to the next level of fulfillment!
- Facebook / Other Eva-12moreInvest in low cost index fund and allow money to grow.... buffet just won his bet against active money management