12-10-2004, 01:42 AM
Abramelin,Dec 9 2004, 03:46 PM Wrote:Hello,
I'll receive a big check (enough to buy a house for instance) within a week or two;I'd like you to know how you would make money/how you make money with money.
Would you buy shares ? Would you take risks or just put the money in a bank ? Would you invest it ? Would you make a 'buy and sell ' business ?
What would you do ? or what do you already do to make money with money?
I don't want to sound like a greedy capitalist or something like that,but I prefer to make money on my own rather than letting a bank make money at my expense.
~Abramelin~
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My only advice would be to not put it all in one place. Consider risks vs rewards, and what portion of loss would you consider to be tolerable. The most % amount of money I ever made was when I was 18, young and stupid. My first employer of only 5 years offered fairly significant profit sharing and retirement plans, which I devoted 100% into high risk investments (what did I care?). 20 years later, that sum has become the foundation of my retirement savings. I continued to get statements every year, which I didn't even look at until a few years ago. My wife pointed out that my meager investments of 1975 had grown exponentially throughout the 80's and 90's.
For instance, if you are young and can afford to risk it all, look for a good stable managed higher risk fund to drop it in and check on it once in a awhile. Doc's ideas for land are sound as long as you look for a good deal on land that is undeveloped, but will be eventually. I wouldn't speculate on developed properties at this time, except that if you do not currently own a home, then buying one is a better deal than renting.