investing

[Bradracer18]

Anyone know anything about investing? Got a friend who was wondering. Has about 10,000 he "doesn't foresee needing" in the next year(in college)....so was wondering if there was a good way to invest it and make some cash....and it be safe!


Thanks
Brad

[Quad18star]

Energy stocks and gold right now are sure winners. Gold is hovering around $925 an once , so he won't get too much for his money. Energy stocks ... they're up and down , but you know damn well they'll skyrocket back up again.

He can lock his money in for 1 year, 5 years , 10 years or 25 years ( depending on the bank ) at different rates.

I've got quite a bit of money invested with the banks right now at a really low rate in cashable GICs ( so that I can withdraw at anytime if I want to make a purchase) and in 3 months I've made about $500 on my money.

The banks received a bailout , so you don't have to worry about them going in the hole right now. Always wise to have insurance on your money though.

You can play the stock market , but in todays economy , you're playing with fire... unless you have insider knowledge that a company will announce soemthign big that will change the world.

[js52589]

put it all on red

[nakomis0]

Originally posted by js52589
put it all on red

ha! nice...

Buy some houses? I know there are alot of really cheap ones out there and I know this recession is going to make quite a few people millionairs.

I got me my first house a few months ago in Detroit, cost me a whoppin, $600 bucks. Still don't know what I'm gonna do with it yet. Probably rent it and try and get a section 8 tenant in there.

[Quad18star]

Originally posted by nakomis0
ha! nice...

Buy some houses? I know there are alot of really cheap ones out there and I know this recession is going to make quite a few people millionairs.

I got me my first house a few months ago in Detroit, cost me a whoppin, $600 bucks. Still don't know what I'm gonna do with it yet. Probably rent it and try and get a section 8 tenant in there.

A house for $600 ??? :huh

Is this a run down shack? Half burned down? Half a trailer?

[nakomis0]

Originally posted by Quad18star
A house for $600 ??? :huh

Is this a run down shack? Half burned down? Half a trailer?

Dude you doggin my luxury home? lol, seriously about a month ago they had it on the news they where selling some for $1. Sure the plumbing and electrical has all been stolen.... but you can make some cash.

Heres my humble abode...
http://i146.photobucket.com/albums/r272/Trick440/StMary.jpg
http://i146.photobucket.com/albums/r272/Trick440/StMary2.jpg
http://i146.photobucket.com/albums/r272/Trick440/StMary3.jpg
http://i146.photobucket.com/albums/r272/Trick440/StMary4.jpg

.. sorry no more posts for me I dont wanna be thread jacking.

[wilkin250r]

Originally posted by Quad18star
A house for $600 ??? :huh

Is this a run down shack? Half burned down? Half a trailer?

You didn't read the other part, it's in DETROIT. That whole city is rapidly turning into a ghost town. For two grand you can buy the entire city.

[derekhonda]

If he just doesnt forsee needing it in the next year, he should do a one year cd or else just put it in a money market account. If he didnt forsee needing it for five years I would advise differently, but for one year I would probably lock it in a cd.

[Bradracer18]

thanks guys!!!! thats the info I was looking for!


And don't worry about jacking the thread!!!! Keep talking!---I never mind that stuff!

[Quad18star]

Originally posted by wilkin250r
You didn't read the other part, it's in DETROIT. That whole city is rapidly turning into a ghost town. For two grand you can buy the entire city.

All homes come with a free GM vehicle also?:p

Eric wanna go splits throw in $1000 each and turn Detroit into the largest motocross track in the world?

[S.A.J]

hey thats a good idea right there!!!! lol
anyone ever heard of industrial buckets? they have some pretty nice returns,they deal with heavy equiptment(sp).

[Bradracer18]

So if we went with the CD.....and it says there is an APY of 1.30%....for a 9 month term. What does that mean in terms of whats profit for say 10,000.

[derekhonda]

at 1.3% i wouldnt even do anything, i would bury it in my backyard. That would mean for 10000 he would earn roughly 150$ over the course of a year, (130 to be exact, but if he has it roll over it would be closer to 150). Banks in my town are giving 3.25 for a 1 year and 3.45 for a 3 year. Thats even low. two years ago I had a CD for 5.9% for a year...if that gives you any comparison.

[Giz400ex]

Originally posted by Bradracer18
So if we went with the CD.....and it says there is an APY of 1.30%....for a 9 month term. What does that mean in terms of whats profit for say 10,000. All I can say is the stock market would be the worst choice! Your friend needs to do some homework on local banks and find out there rates and take it from there. But, he needs to pay attention on penalties ect.... for taking it out early ect.... Right now I'm doing a "power money market acc" and I know its around 3%.

[cglester]

The stock market is an excellent choice right now. Noow is the time to put money in the market, when everybody else is pulling theirs out. Why wouldnt you want to buy something when it is on sale? That is basically what is happening to the market noe. Check it out, it is above 8,000 on Fri. and will eventually return to being above 11 or 12,ooo. My personal opinion would be to invest in an IRA while stocks are cheap(NOW), and watch it grow!:D

[Giz400ex]

All i can say is that you would be taking a hell of a chance. With people losing jobs everyday, businesses closing everyday :( The stock market would be risky. If you don't mind the POSSIBILITY of losing money and you have the stomach for it ? Then go for it :D I would rather know my money is OK and know its making something.

[250Renvy]

I know lots about investing. The best thing to do if you are serious about helping your friend is to find out how much risk he is willing to take, what kind of return he wants on his money and how long - at the most he can wait on it as well as if he has any time to work at it?

Right now if he has any ability to risk it, he can make that $10000 turn into $50000 by the end of the year instead of these jokers telling him to get 3% per year. That won't even cover the inflation that is coming.

Pm me and we can talk more.

[Quad18star]

The markets are a gamble right now , but as stated it is a good time to buy into stocks since they are low ... but it's a risk.

I'm waiting until September , which analyst are saying should be rock bottom for this recession , then I'm going to buy some shares into a mining company that I KNOW will turn huge profits once the markets swing .... and if they can hold out until September they'll be clear sailing after that.

To give you an example ... this company's shares were at $26 a year and half ago ... the market fell and they're at less than $3 right now. Once the upswing starts , it'll bounce right back to around $18 a share. If I invest $20 000 at $3 each , it turns around in 5 years and reaches $18 ... I'll profit $100 000.

[Quad18star]

Here's the graph from the company I'm talking about. Look at their numbers a year ago ... they topped out at $31 a share.


http://www.fnxmining.com/Theme/FNX/files/stock_images/a195df4a-b0ac-466a-8593-f296634c71f6.gif

[300ex_#387]

Originally posted by Quad18star
The markets are a gamble right now , but as stated it is a good time to buy into stocks since they are low ... but it's a risk.

I'm waiting until September , which analyst are saying should be rock bottom for this recession , then I'm going to buy some shares into a mining company that I KNOW will turn huge profits once the markets swing .... and if they can hold out until September they'll be clear sailing after that.

To give you an example ... this company's shares were at $26 a year and half ago ... the market fell and they're at less than $3 right now. Once the upswing starts , it'll bounce right back to around $18 a share. If I invest $20 000 at $3 each , it turns around in 5 years and reaches $18 ... I'll profit $100 000.

Crafty Canadians......

[SRH]

id put it in a MMA thats one of the safer routes to go, for 10k i beleive interest rate was 3.0 but now down to about 2.2, when you get over 25k in it goes up for 5%, thats only 300 a year in interest though so.... its not even combating inflation at that rate

Im debating on buying some gm stock right now... i cant forsee the govt letting them go under and they gotta rebound sooner or later, if i buy a few thousand shares and they bounce back ill make a easy profit, im kicking myself in the *** right now for not buying ford stock when they were way down 2 months ago, i would of at the least doubled my money

[quad2xtreme]

Originally posted by cglester
The stock market is an excellent choice right now. Noow is the time to put money in the market, when everybody else is pulling theirs out. Why wouldnt you want to buy something when it is on sale? That is basically what is happening to the market noe. Check it out, it is above 8,000 on Fri. and will eventually return to being above 11 or 12,ooo. My personal opinion would be to invest in an IRA while stocks are cheap(NOW), and watch it grow!:D

How does putting in an IRA help him? He will get penalized if he withdraws the money. He is looking for a good 1 year investment.

[S.A.J]

i think short term investments are pretty good now,just you got hawk it the whole time so for somone who doesnt want to spend all theyre time on it it aint for them.my uncle knows alot about this stuff and he's retired and he's in his late 40s or early 50s i think lol anyway thats what he's playing round with now and if you spend alota time in it and study and watch and pick your company wisely you can do pretty good!!!

[F-16Guy]

Originally posted by cglester
The stock market is an excellent choice right now. Noow is the time to put money in the market, when everybody else is pulling theirs out. Why wouldnt you want to buy something when it is on sale? That is basically what is happening to the market noe. Check it out, it is above 8,000 on Fri. and will eventually return to being above 11 or 12,ooo. My personal opinion would be to invest in an IRA while stocks are cheap(NOW), and watch it grow!:D
That's exactly what I think. Stocks aren't going to get much cheaper. My TSP (like a Federal 401K) balance is low right now, but I'm buying a ton of shares every payday, so when it recovers, it will grow exponentially. I also agree with real estate. If you're careful about what and where you buy, I think there's a ton of money to be made. I bought a house in El Mirage, AZ (west of PHX) in 2003 for $127K, all fees included. It was a ground-up new build with a bunch of upgrades. I sold it in December of 2006 for $212K. I just looked at Realtor.com the other day and there are several of the same model house in the same neighborhood selling for about $65K!!! I'm positive it cost more than that to build. I see those houses recovering and stabilizing in the low $100Ks. If you buy one using the $10K as a down payment, rent it out for a few years, and then sell it, you could pocket $30-40K.

[SRH]

robert kiyosaki has alot of good books out about investing and what not, id advise your freind to read a few of them, keep in mind most of these guys are biased about what worked for them, so pick up a few by different authors, kiyosaki has alot of good information in his books and if your freind is oblivious to money, investing and what not it would probably be the easiest for him to follow

I was considering getting into buying some real estate in 07 but then 08 hit , i think real estate is going to take a lil more of a hit before im willing to start buying to where i can sit on it for 4 or 5 years, I also hear that areas like phoenix, housing costs were so inflated that they will stabilize way under what we think they will, Building materials have drooped in price with less demand now so yeah it might of cost this much 6 yrs ago but now you might be able to build it for 20-30% less, but $65k ...i cant imagine any decent size home selling for less than that....or building it for much less than that to be honest

[Ralph]

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[quad2xtreme]

South Park video is GREAT!!!