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 Elite Fitness Bodybuilding, Anabolics, Diet, Life Extension, Wellness, Supplements, and Training Boards
 Chat & Conversation
 WHAT TO DO WITH 45000 DOLLARS?
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| Author | Topic: WHAT TO DO WITH 45000 DOLLARS? | ||
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Elite Bodybuilder 
Posts: 773 |
OK I JUST GOT A CHECK FOR 45,000 DOLLARS.I WAS THINKING OF STARTING A BUSINESS,OR PLAYING THE STOCK MARKET,OR DRAWING SOME INTEREST.WHAT WOULD YOU GUYS DO IN MY SITUATION? ------------------ HEAVEN IS THE BACKSEAT OF MY CADILLAC.      | ||
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Pro Bodybuilder 
Posts: 395 |
I am in the same boat as you bro, I am not sure I am waiting to recieve a check for 50,000. from a lawsuit... I am thinking of investing some or getting a house and then renting it out. | ||
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Elite Bodybuilder
Posts: 661 |
Honestly Look into Offshore investing before those jackasses in congress close that door. The risk are higher but the returns are phenominal. Many a mutual fund has an offshore companion that would blow your mind. Just go to a Borders they sell, investment mags for offshore stuff and search the web. The downside is that it is taxed at a higher rate when brought into the country. The trick is to keep it in a bank for those trips over seas and points outside the US. Just a bit of advice for some flush bros. ------------------ | ||
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Elite Bodybuilder
Posts: 1149 |
If your that liquid and you have a good paying job now. You take 35,000 and go money market. If you get an average annuall return of lets say an easy 12%( you can get bonds that Guarantee that) that is $4200.00 a years for doing nothing at all. That is a low estamate also. You compound this over a few years and you will be butt phuking rich. Take the other $10,000 and run it through a broker with a medium risk package looking for 20-30% gains in a year. Remember this is capital gains so you got to pay the tax at the end of every year. If you are that liquid i say invest not risk it on a possible fold business. You are way ahead of many. | ||
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Pro Bodybuilder
Posts: 440 |
I would get yourself a trusted finacial adviser. I have 30,ooo in a janus fund and something else I don't recall,but i've made est.10-12,000 in alittle over a year.My parents made about 25,000 in less the 2 years not the same as me but they invested around 52,000. ------------------ | ||
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Elite Bodybuilder
Posts: 773 |
THIS IS REAL GOOD STUFF FROM YOU BROS.YOU GUYS ARE HELPING ME OUT ALOT.PLEASE CONTINUE WITH THIS INFORMATION. ------------------ HEAVEN IS THE BACKSEAT OF MY CADILLAC. | ||
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Pro Bodybuilder
Posts: 592 |
Or if you really think your going to have some high taxes at the end of the year you can donate it for a tax write off to me called the I'm a college kid that needs more mula....  on a serious note I think what checkmate just said is pretty good...I just helped my mom pick a couple of mutal funds out of the money her and my dad split from the house sale | ||
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Elite Bodybuilder
Posts: 773 |
ARE MUTUAL FUNDS THE WAY TO GO?THEY SEEM NOT TO BE REAL BIG MONEYMAKERS,ALTHOUGH THEY ARE QUITE SAFE. ------------------ HEAVEN IS THE BACKSEAT OF MY CADILLAC. | ||
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Pro Bodybuilder
Posts: 395 |
Yea, keep this coming in....Where's JohnnyO, he makes some good coin each year?.. | ||
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Moderator 
Posts: 1058 |
ha... to put it nicely i used to have a really bad expensive habit I don't anything except the options in Cisco and the 401k. I don't even own a house yet. | ||
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Pro Bodybuilder
Posts: 379 |
Buy CTXS below 19 and BIOM below 10. Sell CTXS at 23 and BIOM at 12. | ||
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Amateur Bodybuilder 
Posts: 240 |
What's your current tax bracket? Where did you get the money? Do you have it yet? Depending on your situation I would start some type of corporation just as a tax shelter. And in case anyone want's to sue you they'll have a hell of a time getting at that money. From the corp. you can invest to your hearts content. Who recalls the tax bracket of a C corp who's income is less than 50,000? [This message has been edited by Zeacky (edited October 03, 2000).] | ||
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Elite Bodybuilder
Posts: 1149 |
I invested in telmex when I was 17 with some money I saved from working on the farm. Now guys don't take this the wrong way, but when I was 20 I purchase a brand new Mitsubishi 3000Gt Zurich White sticker was $28,000. I paid $23,000 cash. Was is a wonderful thing. I told the dealer that they were going to need to finance it, but I had $7000.00 down so they were willing to take the risk and ran me on a high interest rate of 12% because I was so young with no co-sign. I paid the car off when the first bill can in to keep from having to pay any of the simple interst. You may ask why did i just not pay for it all up front. well if a dealer knows you can pay cash for the entire car the will not get the bonus money when financed there GMAC or FORD motor credit or whoever, therefore the price on the car is $26,000 instead of $23,000 because they have to make up the money they are going to lose in interest. Never show your hand to a dealer if you got it. Finance and then pay off.
Hope somebody learned something here. | ||
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Elite Bodybuilder
Posts: 661 |
Okay.. TIME TO BE STUPID! BUY A LOT OF HOOKERS AND BEER AND COKE AND ECSTACY AND GET A DONKEY AND A LLAMA AND PARTY!!!! ------------------ | ||
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Amateur Bodybuilder
Posts: 65 |
If you have a sound business plan and have good management skills you will never regret being your own boss. | ||
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Pro Bodybuilder
Posts: 379 |
hey checkmate, your math is impossible. should have been about 20% depending upon interest rates... if your principal was the same, lets assume 100,000 @ 7.5% APR 15 year is $927 You had a difference of only 100$. BUT YOU ARE RIGHT THAT A 15 YEAR IS MUCH! LESS EXPENSIVE OVER THE LONG TERM. | ||
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Elite Bodybuilder
Posts: 1149 |
bb4424, You are most likely correct. I do not recall the exact savings it was 7 years ago. The house listed at that time for around $87,000 or so. It is on simple interested and I toss in and extra $25 or $50 here and there when I can and as you know that goes goes straight towards the principal. I am not a finance major so I don't pretend to know it all. I pay $48 a month for insurance on the home that is included in the morgage payment. [This message has been edited by Checkmatebloated (edited October 03, 2000).] | ||
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Amateur Bodybuilder
Posts: 71 |
Well Beast, you could do the prudent thing and invest, or you could snag a Corvette with the Z06 package. That would be more fun. ------------------ | ||
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Cool Novice 
Posts: 45 |
Invest, Invest, Invest! ((pharmacuetically, tech stocks, and bank stock(dam interest rates!) & mutual funds are where most of my savings is currently)) | ||
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Guru
Posts: 3077 |
Send it to ME! ------------------ "...damn you for not giving my TEST" - Metallica "After this show i'll be fat and happy again.....If i make it to the show...." - Lee Priest "Lets put some weight on the bar.." - Shawn Ray "IT DOESN'T MATTER" - The Rock | ||
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Pro Bodybuilder
Posts: 329 |
Have a BIG Party for all Elite Members, and fly us all to the party, maybe a Island somewhere!!! Or do the smart thing invest!!!!!!!! Then when you make some more money, then you can throw us a Big Party~~~ Pamela | ||
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Amateur Bodybuilder
Posts: 64 |
Fuck investing man, live for today spend that shit on whatever u want. A car, a new wardrope, Vegas. the finest hookers money can buy, well u get the picture. ------------------ | ||
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Amateur Bodybuilder
Posts: 62 |
put at least $10k on the mets today against the giants. hurry up you have less than an hour. | ||
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Elite Bodybuilder
Posts: 773 |
ANY OTHER THOUGHTS? ------------------ HEAVEN IS THE BACKSEAT OF MY CADILLAC. | ||
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Pro Bodybuilder
Posts: 443 |
hell yeah, wodin and cobra! now you're talking! do what i've always wanted to do.. | ||
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Cool Novice
Posts: 23 |
I'd buy a badass car. | ||
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Moderator
Posts: 1568 |
Cleaner,, Thank you for your wisdom. Steel, Start your own business. Fgure out what you want to do, then buy what you need to do it. Matt |
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Ultimate Bulletin Board 5.45c
posted October 03, 2000 07:46 PM
"Marge, I said Wooo Hoo!" Homer Simpson
lol