Managed to save 160k with no skill and have no idea what to do with it.

[Trillical]

u the one who should be giving advice

[Uptown83]

I wouldn't invest. You dont know anything about it and you would have to put your trust into someone to manage it for you. Now maybe you could throw in 5k and play with it to learn the ropes possibly but you would be crazy to put a large chunk of your money into it. Honestly you should save your money and do short term CDs etc. I dont know what your skill set is but if you dont have any you look into learning a career while you save even more money. Also starting a business isnt for everyone.

Bottom of line. Save your money and wait for the right opportunity to strike. Could be in 2 years or in 10.

[Grinners]

[RocknRollMuscle]

I'm a licensing officer for the Ministry Of Child and Family development. My GF is about to become a social worker. We make a good living.

No business experience.
No rich friends.
No business connections.

Do your research on these gold stocks.

Right now, you want a SAFE investment to beat inflation. Max out your work retirement options, 401k, etc. Then look into vanguard investments, etc. to put money away safely and get half decent interest to outpsace inflation. I think other miscers have created good threads here.

Or put it again into RE but you said it's going down/stagant.

Yes and no. Yes boom is over, but what's wrong with making 10 crappy bids on crappy houses in good areas, 1 will say yes, fixing them up, then selling them at a good profit.

What about getting in on new housing developments before they're built, they're built, then sell them. That's what the chinese/ME are doing here in cali. Buying up all new development.

What about a multi house dwelling apt and then renting out? Do you know other RE investors? Hang out with them and see how they're making the big bucks. Avoid the scam artists on the internet who sell garbaqge telling you how to get rich. Real rich RE guys don't teach their tricks on the internet.

Buy up a building and lease back to the govt?

As for other biz opportunities: if you know nobody, not much opportunity exists. The more people you know in life, the more opportunity you have.

[DSTEE]

I don't think o have enough money to do that.

maybe smaller firms that dont need as much capital. but yeah might be tricky with that amount of money.


id recommend you start reading entrepreneur and start-up books for fun, once you get into that mindset you'll have some ideas pop up over time

[Icebergie]

Because what I'm doing isn't a skill. It's riding a wave of housing prices that are increasing, but have flat lined recently.

Sounds like OP is a freelance real estate agent. Keep doing that.

[MISCERZ]

Sounds like OP is a freelance real estate agent. Keep doing that.

I've been thinking about doing that in other cities but it's hard to speculate. Vancouver just been rising and rising.

[Srbija87]

in on thread, OP i got the same issue srs

Have about 150k saved up doign the same chit as you but i want do something else as well. Chit gets boring sometimes. Was thinking of starting some type of online business or get into stocks but theres so much to learn. Are there people who can trade for me? I am considering moving to another part of the country and maybe continue flipping. Maybe we just need need a new environment.

[HairyMerkin]

These two graphs don't make sense. if you've got equal % investments in stocks, bonds, cash and gold then your total investment gain is gunna be an average of those.

[MISCERZ]

in on thread, OP i got the same issue srs

Have about 150k saved up doign the same chit as you but i want do something else as well. Chit gets boring sometimes. Was thinking of starting some type of online business or get into stocks but theres so much to learn. Are there people who can trade for me? I am considering moving to another part of the country and maybe continue flipping. Maybe we just need need a new environment.

It's never boring making money but I agree. It would be nice to make it more exciting by using it for something else.

[dhawkeye1980]

Buy an apartment complex, pay a management company to run it, live in 1 unit for free and watch your money grow....

[Srbija87]

It's never boring making money but I agree. It would be nice to make it more exciting by using it for something else.

I am not sure how you do it but i pay people to do my work so i dont have much to do up until its ready to be sold. oh well

[SuperDick1234]

Take a small chunk of that. 10k or so and go have a blast

[Willanhanyard]

You actually dont have to do anything with it. Save it for a rainy day.

Like someone already said, maybe try taking a bit of it like $200 and invest in different things. Investing is a complex thing so you need to learn how to do it before you go and lose 160k.

[877CashNow]

if srs just put a little bit at a time (dollar cost averaging) into an S&P Vanguard Index fund. Say 100k over a period of 5 years or so. Set it up so that every month you automatically buy $1500.

personal.vanguard.com/us/funds/snapshot?FundId=0968&FundIntExt=INT

get with vanguard, they'll set the whole thing up for you.

keep 60k in cash just in case.

[jwlee7ucla]

LOL kk, look at gold prices right now, come back in ten years ***got.

This is a good idea if you can take the risk and wait it out for 10 years..

No investement is a 100% safe (ESPECIALLY IN THE CURRENT MARKET), but you can bet that gold is one of the safest in the long run, LMFAO do you even history? do you even humans? do you even know why i said gold?

Gold is rare, and we humans already know that for tens of thousands of years, and to this day, gold is still very high in demand...

lmao, ok i'm stupid you're smart. rofl, try to have some cash in the bank, then start thinkin' bout serious investments kk thx.



Before you uneducated brats open your mouth, use google, and look some **** up.

Who do you think owns all the gold? the public? the grand mass? the hoi polloi?

some people... :L

putting your cash on gold = safe in the long run if you disagree then you're born retarded. (in our current market its probably even safer then any current currency, (going from US dollar, to the Euro) because of der "currency wars" ESPECIALLY in the long run

Not sure if srs that i even had to defend this.

I'm going to show you exactly why you are retarded and why no one should trust you.



What would happen if OP took your advice and dumped everything into gold at the end of 2011, when price was 1800?

Year to date he would lose about 60K of his money in two years. You know what you could do with 160K in those two years? ANYTHING BUT BUY GOLD.

You don't understand the concept of intrinsic value (gold) and things that actually appreciate over time. Just like anything else thats a commodity and can be bought/sold, prices go up and down, and you are blindly suggesting that he just toss everything in, and pray. Do you know what people call these people? Stupid, like you. Price can easily not reach 1800 again for years to come (meaning u stay in the red the entire time), or it may. But guess what, normal people with no experience have no way of knowing which way the coin flips, so I say again, your IQ is so low its offensive to people who know what they are talking about. GTFO.

Even for your comment of "hold it for 10 years", did you not notice in YOUR VERY OWN CHART theres a huge dip from 800 into 300? thats a 60% LOSS OF YOUR ACCOUNT, stupid.

[MISCERZ]

Take a small chunk of that. 10k or so and go have a blast

I just spent all of June, July and August in UK, Holland, France, Spain, Italy, Greece, Turkey, Belgium, Morocco, Portugal and Luxenbourg. Spent over 35k. No more fun for a while.

[ho_124]

I don't know sh*t about investing either, but if I had that much money I'd just put it in something safe like bonds. If it's just going to sit there, might as well make a % profit each year, even if it's small.

[Canadas_elite]

a lot of people itt are saying invest. But many of us such as myself don't know how to, where to start, who to call, what to do. I'd LOVE to put some of my money away but I literally have no idea how to just start.

I tried looking on the web but half the people either want you to pay them to show you how and where,





or the other half just brag about how much they made and how chitty your life is

[JustMoved24]

Not a brag thread. Srs.

Lived in Vancouver for 10 years and kept flipping condos I lived in after 1 or two years.

Managed to save 160k.

I want to do something with it (business/investment) but have no idea what to do. I don't even consider myself successful.

I had luck the entire time. Now I want to use it and it's driving me crazy what to do with it. Not a business man. Know nothing about stocks. No nothing about investments.

Any idea where I can turn?

I go play in so e big poker tournaments in vegas and win millions.

[MISCERZ]

a lot of people itt are saying invest. But many of us such as myself don't know how to, where to start, who to call, what to do. I'd LOVE to put some of my money away but I literally have no idea how to just start.

I tried looking on the web but half the people either want you to pay them to show you how and where,





or the other half just brag about how much they made and how chitty your life is

Yup. Have no idea who to call for an investment. Media has pretty much spent the last 4 years talking about how bankers and investors ruined the world and it's made a lot of people with no knowledge in that field apprehensive.

[RocknRollMuscle]

a lot of people itt are saying invest. But many of us such as myself don't know how to, where to start, who to call, what to do. I'd LOVE to put some of my money away but I literally have no idea how to just start.

I tried looking on the web but half the people either want you to pay them to show you how and where,

BUY & HOLD.

Safe = Long Term. Unsafe = Risk

Start with your employer. Max out your pension plans and retirement savings.

After that, ask around pros and choose safe, verified companikes with a long term track record to put away your money in safe instruments. Choose more than 1 if necessary.

Getting greedy and choosing risky, pie in the sky, slick salesman madoff type funds and you can kiss that money goodbye fast.

[deadliffft]

You can send me a couple hundred so I can afford to visit my family this Christmas(srs).

I can provide screen shots of my bank account as proof of poverty. I am currently living in a 3x8 closest lol.

[877CashNow]

Yup. Have no idea who to call for an investment. Media has pretty much spent the last 4 years talking about how bankers and investors ruined the world and it's made a lot of people with no knowledge in that field apprehensive.

...

if srs just put a little bit at a time (dollar cost averaging) into an S&P Vanguard Index fund. Say 100k over a period of 5 years or so. Set it up so that every month you automatically buy $1500.

personal.vanguard.com/us/funds/snapshot?FundId=0968&FundIntExt=INT

get with vanguard, they'll set the whole thing up for you.

keep 60k in cash just in case.

seriously dude, a low cost index fund. even warren buffett recommends it for 90% of people. go read the book Enough by john bogle.

google this chit. don't take my word for it.

investorplace.com/2014/06/warren-buffett-vanguard-funds/#.VJTU68AB3I

amazon.com/Enough-True-Measures-Money-Business/dp/0470524235

[donblaximus]

Use it for a rainy day fund like others have said.

This is assuming that is all you got?
Start putting some in retirement accts etc.
A lot of financial advice all depends on your age, where your other money is at, how much debt you carry, and what your goals are.

Very hard to give advice when you just come in here and not give the full picture.

[trackguy75]

Go to college. Get a profitable degree work, come up with buisness idea, get loan from bank, start profitable business from work experience from degree. Live comfortably

[MISCERZ]

You can send me a couple hundred so I can afford to visit my family this Christmas(srs).

I can provide screen shots of my bank account as proof of poverty. I am currently living in a 3x8 closest lol.

What city are you in?

[donblaximus]

a lot of people itt are saying invest. But many of us such as myself don't know how to, where to start, who to call, what to do. I'd LOVE to put some of my money away but I literally have no idea how to just start.

I tried looking on the web but half the people either want you to pay them to show you how and where,





or the other half just brag about how much they made and how chitty your life is

Lol you are onto something. A few years ago I was drinking with some buddies and I came up with an idea. Start a financial consulting firm teaching the absolute basics for people who want to get their finances straight.

It would be on the basis of truth and transparency. We would expose our positions and portfolios to our clients so they knew we weren't full of shiet.
Tired of personal financial advisors approaching me asking me to trust them with my money. I always ask them to show me their personal portfolios and they get offended and say "we don't do that" yet they expect me to tell them all about my personal finances.

Lol their used to be a kid from Edward jones that would pull up to my house every Friday in his beat up civic and cheap suit. Every Friday for almost a year. He was so persistent that I actually applauded the kid and threw $100k at him to invest for his hustle. Edward jones fees are atrocious but I wanted to give the kid something for being so persistent.

Back to my idea on the personal finance coaching business...as we got more drunk I started to identify those that make great cash flow but had no clue how to make their money work for them....my target would be low end drug dealers, bookies, and strippers. LOL

[big__chris]

If you feel you have no good use for it: Throw it in some safe investments and forget about it. It will still be there if ever you have an idea for it down the road

If you're entrepreneurial: Use it to fund a business


With 160k, unless you plan on using it to invest in RE full-time, I'd recommend an REIT, as you're not going to get any significant return on actual properties with 160k, and you'd be subject to tax obligations

[hardgainersrs]

Gunna be a first time home owner why dont we but a fixed upper together in lower mainland and flip it together op