WAY OT: Money Gurus, recommend good places to park money
It's bonus season, and I am guesssing there are some other MgoEmployees in a similar spot as myself, and if theres one thing I know about this board is there are plenty of bright people who also happen to be dying for an excuse to mention how successful/smart they are.
So here it is: I have too much money to keep in a checking account - I'm thinking no more than a few thousand dollars should be placed there. I have no anticipated major expenses for at least a year, though possibly next year I might. Saving accounts offer little yield, even a quick google search told me CDs are offerring just 2.25%, which comes out to $22.50/$1000 for a year, which doesn't really move my needle. I could also purchase a stock with a good annual dividend, I found ATT had a dividend yield at 5.3%. I am not risk adverse - dropping it on oil futures has crossed my mind, but practically speaking I am looking for something safer.
So, have at it titans of finance. Give out some good investing advice to your MGoBrethren.
February 28th, 2015 at 9:18 PM ^
February 28th, 2015 at 7:54 PM ^
February 28th, 2015 at 7:55 PM ^
Car washes in Albuquerque are a pretty good place to invest. I heard about a guy who had about $14 million from that.
February 28th, 2015 at 9:45 PM ^
February 28th, 2015 at 7:57 PM ^
February 28th, 2015 at 8:16 PM ^
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February 28th, 2015 at 8:39 PM ^
Predicting a market drop right now is easy. The markets are at an all time high. So anyone can predict a drop and they will probably be right, eventually. The market can't ALWAYS go up.
It's predicting WHEN thats the tough part. Next week? Month? Year? When?
February 28th, 2015 at 9:17 PM ^
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February 28th, 2015 at 8:58 PM ^
February 28th, 2015 at 9:07 PM ^
February 28th, 2015 at 9:18 PM ^
February 28th, 2015 at 9:24 PM ^
February 28th, 2015 at 10:02 PM ^
The average life of a fiat currency system (like ours has been since Nixon ended gold convertability in 1971) is 27 years. We are sitting at 44 years as of today.
Sammy, pour me another one.
February 28th, 2015 at 10:46 PM ^
. Our money is backed by gold.
It is not backed by gold.
Our money is not backed by gold, not anymore.
The catastrophic failure that some think is coming is because we are printing money at such a rapid rate. The dollar is losing value, people are afraid it will lose status as the worlds reserve currency, then we can't print anymore and the debt defaults.
That's what they say anyways.
youre doing it all wrong.
He said Future metals,
that means Vibranium, Adamantium, & Transparent Aluminum.
February 28th, 2015 at 9:09 PM ^
February 28th, 2015 at 9:32 PM ^
if you don't have the time or desire to hire someone else, or do too much research yourself, it's one of the easiest and safest ways to invest long term.
February 28th, 2015 at 9:29 PM ^
I just want to say one word to you. Just one word. Plastics.
February 28th, 2015 at 9:41 PM ^
February 28th, 2015 at 10:46 PM ^
February 28th, 2015 at 9:37 PM ^
February 28th, 2015 at 9:48 PM ^
in developing your financial health. There are specific steps to take with a windfall at each step of the way. It could be emergency fund, or paying off debt, or building retirement and college savings, paying off the house, etc.
One question, do you have an emergency fund? If not, start one. That goes straight into the bank. And just sits there. First, spend a few bucks and get yourself on a Dave Ramsey program or something similar. Those types of programs make it pretty easy to know what to do next, and you won't have to ask MGoStrangers.
February 28th, 2015 at 11:07 PM ^
February 28th, 2015 at 10:54 PM ^
February 28th, 2015 at 9:54 PM ^
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February 28th, 2015 at 10:19 PM ^
You might as well take it to the nearest casino and start betting all the hard ways...
Good luck to you sir!
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February 28th, 2015 at 11:05 PM ^
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Yup, and as I posted, I will 100% invest in the strategy from the post with the most upvotes.
Relax, Nancy, just doing a bit of brainstorming. Most of this thread is a lot of fun.
February 28th, 2015 at 10:29 PM ^
February 28th, 2015 at 11:01 PM ^
All the brokers out there are claiming and trying to out-perform the market. They may do it for a period of time, even as long as a handful of years, but over the long haul, they can't, despite all the claims of "diversified funds," etc.
In my opinion there's two ways to do it: the informed, quantitative way and the forget-about-it way.
Informed, quantitative way: estimate the NPV of comapnies' future cash flows (FCF) and invest in the highest (or ask your broker to do it).
Forget-about-it way: put it all in the S&P 500 (the index that most finance experts believe mirrors the market--i.e, the collection of all stocks--most accurately) until you are around 5 years from retirement, then move all your money into T-bills or a savings account, whichever has a higher rate of return (doesn't look like savings accounts will be worth a whole lot for the foreseeable future).
The informed, quantitative way likely won't give you much better results than the forget-about-it way, and the former is more costly (from either an opportunity cost or actual cost--time spent or broker fees) than the latter.
If I were you, I'd take it all and put it in your employer's 401(k) (or whatever) and ask for 100% S&P 500, then pull at 5 years before retirement and put it in T-bills.
But, what happens if you end up spending 30+ years in retirement?
If your name is Pinky, you ARE a dick.
You have been on fire since you started posting on this blog.
And by "on fire" I mean taking needless shots at people because you like to start trouble, or just be a dick.
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FNHTMX
Good luck!
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I was always told that land is the best investment to park money in. Then again I grew up around farmers.... so they could have just been trying to sell me farmland.
Actually Vanguard Dividend Growth has served me well over the years, no load & low fees.
COS on the Toronto or COSWF on the pink sheets. A not brilliantly led company with the one asset that is almost impossible to screw up, proven oil reserves in the ground with infrastructure in place to mine it. Oil is beat down, the idiot neocon/libs want to start a war in the hope of covering up the fact that they are theives and fuckups, It has traditionally paid a nice dividend that has recently been cut dramatically in the face of falling prices but will likely be restored in the reasonable future. It is at or near it's historic bottom going back even to it's days as a trust. Posiibly, the one buy and hold stock that's out there presently.
With regards to that global warming thing people are worrying themselves over and as anybody in the East will tell you lately, warm is better.