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ZHamburglar posted:If I were to have a large amount of money, what would be the best thing to invest in to grow it but keep it liquid as possible? It will be in the 6 to 7 figure range due to a company being sold that I had equity in. I have no intention of buying anything with it for the future since I'm a super cheap person.
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Jul 2, 2018 17:00
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ZHamburglar posted:If I were to have a large amount of money, what would be the best thing to invest in to grow it but keep it liquid as possible? It will be in the 6 to 7 figure range due to a company being sold that I had equity in. I have no intention of buying anything with it for the future since I'm a super cheap person. You want the BFC newbies thread. In this thread all I can recommend is diversifying by owning only a part each of a large number of horses.
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Jul 2, 2018 17:01
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Be sure that investing in these horses eats up 97% of your income
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Jul 2, 2018 17:05
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i've never tried halo top but i think i never will because i buy my ice cream from the local dairy who makes it on prem with free range cows who walk by as you're eating your ice cream with their stinky cow farts and the smell of cow poo poo permeating everything and if you don't get local organic free range grass fed ice cream then you probably shouldn't be arguing about Ben & Jerries vs. Halo Top vs. Haagen Daaz or whatever because industrializing ice cream definitely lowers the ceiling and you haven't experienced proper Good Ice Cream also not a children go to Prigel Family Creamery if you haven't some time the loving ice cream is baller
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Jul 2, 2018 17:06
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ZHamburglar posted:If I were to have a large amount of money, what would be the best thing to invest in to grow it but keep it liquid as possible? It will be in the 6 to 7 figure range due to a company being sold that I had equity in. I have no intention of buying anything with it for the future since I'm a super cheap person. Try the long-term investing thread. This thread is for the opposite sort of content.
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Jul 2, 2018 17:15
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ZHamburglar posted:If I were to have a large amount of money, what would be the best thing to invest in to grow it but keep it liquid as possible? It will be in the 6 to 7 figure range due to a company being sold that I had equity in. I have no intention of buying anything with it for the future since I'm a super cheap person. I'd recommend a diversified portfolio of Chevy Camaros. If you get several of each generation, then you're guaranteed to see appreciation!
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Jul 2, 2018 17:25
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Vox Nihili posted:Try the long-term investing thread. This thread is for the opposite sort of content. The short term divesting thread: what percentage of my asset allocation should be horses?
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Jul 2, 2018 17:27
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canyoneer posted:I once accidentally double paid a credit card so I had a credit balance. BWM is when my dad did this online every couple of days over the course of a month and ended up with an $80k positive balance on his card. He thought the credit was an owing, which is an easy mistake to make when the only clue is that it's in parentheses (especially since parentheses means owing on a savings or checking account). Also, he's almost 80 and has been suffering from short term memory loss since my stepmother passed away unexpectedly  GWM is when I got a letter from a bank I had left a year earlier noting what I thought was a $1200 balance owing and freaked the gently caress out because I had just booked a European vacation. Turns out I had mistakently paid off a credit card twice before cancelling it and it was a notice of credit. The unplanned "forced" savings paid for my vacation 
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Jul 2, 2018 18:01
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ZHamburglar posted:If I were to have a large amount of money, what would be the best thing to invest in to grow it but keep it liquid as possible? It will be in the 6 to 7 figure range due to a company being sold that I had equity in. I have no intention of buying anything with it for the future since I'm a super cheap person. Join my wealth triangle, turn your millions into billions (for me). Dillbag posted:BWM is when my dad did this online every couple of days over the course of a month and ended up with an $80k positive balance on his card. He thought the credit was an owing, which is an easy mistake to make when the only clue is that it's in parentheses (especially since parentheses means owing on a savings or checking account). Also, he's almost 80 and has been suffering from short term memory loss since my stepmother passed away unexpectedly So.. like father like son?
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Jul 2, 2018 18:26
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totalnewbie posted:So.. like father like son? Yes, I am looking forward to my elderly dementia.
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Jul 2, 2018 18:28
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Pay day loan places are getting a bad rap, so let's just direct mail the loan paperwork to people and let nature take it's course. https://www.washingtonpost.com/busi...m=.a115fef90197 quote:It’s basically a way of monetizing poor people
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Jul 2, 2018 19:55
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baquerd posted:Pay day loan places are getting a bad rap, so let's just direct mail the loan paperwork to people and let nature take it's course. It sounds awful, but at the same time it's the only credit these people have available and for good reason because that one guy cashed his check, borrowed another $800, and then made 'a few payments' over the span of a year. If I was a regular bank I'd avoid him like the plague. And this has been going on for years. Discover card sends me loan opportunities every 3 months or so. I'm not sure if it's monetizing poor people as much as it's weaponizing lawsuits against borrowers who default. Like the one example where they were suing the lady after only 5 months. Even if she never made a payment that's super fast. Ironically, since they probably can't claim 30% interest on the judgement, getting sued and losing actually keeps the balance from increasing at the same pace.
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Jul 2, 2018 20:12
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In my opinion, the best solution is for the U.S. to join the rest of the world and let Post Offices do banking as well. They can offer higher risk loans because they have the government backing them, and they can reclaim a lot of missed payments by deducting it from any tax returns they might have otherwise received. Interest rates are lower than what private industry could offer, credit-poor people get access to credit they wouldn't otherwise have, the Post Office can get another revenue stream, and a bunch of poor people aren't being exploited under the weight of usurious loan shams and frauds. Which is precisely why it will never happen 
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Jul 2, 2018 20:19
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DarkHorse posted:In my opinion, the best solution is for the U.S. to join the rest of the world and let Post Offices do banking as well. They can offer higher risk loans because they have the government backing them, and they can reclaim a lot of missed payments by deducting it from any tax returns they might have otherwise received. Interest rates are lower than what private industry could offer, credit-poor people get access to credit they wouldn't otherwise have, the Post Office can get another revenue stream, and a bunch of poor people aren't being exploited under the weight of usurious loan shams and frauds. The people who are getting payday loans are by and large not people that any reputable lender would want to lend to, and I don't think taxpayers would want a government backed entity giving out such risky loans. I have worked on projects trying to meet the needs of payday loan borrowers without the worst features of payday loans, and the high interest rates are there so your can make a profit at all off of a portfolio where a huge percentage of borrowers WILL default. These people will borrow as much money as they are allowed to without ever thinking of the payback.
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Jul 2, 2018 20:29
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To be fair, americans get fisted by the invisible hand of the free market way harder and more frequently than other developed nations. BWM: being so afraid of letting someone get a free ride you consciously choose worse alternatives that somehow cost more.
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Jul 2, 2018 21:09
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Guest2553 posted:To be fair, americans get fisted by the invisible hand of the free market way harder and more frequently than other developed nations.
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Jul 2, 2018 21:13
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ZHamburglar posted:If I were to have a large amount of money, what would be the best thing to invest in to grow it but keep it liquid as possible? It will be in the 6 to 7 figure range due to a company being sold that I had equity in. I have no intention of buying anything with it for the future Growth and liquidity are kind of opposites, yo, also why do you want it liquid if you have no intention of using it soon.
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Jul 2, 2018 21:21
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It is a BFC rite of passage to ask for advice on where to keep some money for either like 1 or 10 years that might be for a house down payment or potentially early retirement and ideally with high growth but available any time and without volatility Would that be stock? Do i want to buy 401k? My parents have a Money Guy that I can work with, if that helps
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Jul 2, 2018 21:23
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moana posted:Growth and liquidity are kind of opposites, yo, also why do you want it liquid if you have no intention of using it soon. By that I assume he doesn’t want fixed assets like real estate
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Jul 2, 2018 21:24
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therobit posted:The people who are getting payday loans are by and large not people that any reputable lender would want to lend to, and I don't think taxpayers would want a government backed entity giving out such risky loans. I have worked on projects trying to meet the needs of payday loan borrowers without the worst features of payday loans, and the high interest rates are there so your can make a profit at all off of a portfolio where a huge percentage of borrowers WILL default. These people will borrow as much money as they are allowed to without ever thinking of the payback. I got that Obama money
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Jul 2, 2018 21:24
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Serious question though, how do poor people in other countries do this? I get it, people in France probably don't need fast money for medical bills. But when Jacques' truck breaks down outside of Nice, how does he get the necessary Francs to fix it? Is it the government subsidized post offices or are there lenders who can make a profit off the massive default rates with subprime lending without charging 30% interest? ZHamburglar posted:If I were to have a large amount of money, what would be the best thing to invest in to grow it but keep it liquid as possible? It will be in the 6 to 7 figure range due to a company being sold that I had equity in. I have no intention of buying anything with it for the future since I'm a super cheap person. Money markets are pretty liquid and may net you a few percent. Mutual funds and SPDR's aren't terribly non-liquid. There's more risk there, but if Trump shuts the gently caress up and the markets have another good year, your profits could be taxed as capital gains instead of income. There's no real good answer. All the safe options pay terribly because they're safe. Krispy Wafer fucked around with this message at 21:29 on Jul 2, 2018 |
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Jul 2, 2018 21:25
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Krispy Wafer posted:Serious question though, how do poor people in other countries do this? When Jacques' truck is broken down outside of Nice he parks it someplace where it won't get towed and then uses public transit to get home because public transit is a social good that impacts more than just poors' ability to get to their jobs.
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Jul 2, 2018 21:31
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Dwight Eisenhower posted:When Jacques' truck is broken down outside of Nice he parks it someplace where it won't get towed and then uses public transit to get home because public transit is a social good that impacts more than just poors' ability to get to their jobs. I would assume that even France has towns that get zero public transit.
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Jul 2, 2018 21:34
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France was able to put in good public transit because it was bombed in WW2
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Jul 2, 2018 21:35
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Dwight Eisenhower posted:When Jacques' truck is broken down outside of Nice he parks it someplace where it won't get towed and then uses public transit to get home because public transit is a social good that impacts more than just poors' ability to get to their jobs. But Jacques lives in Normandy and is only tooling around the the French Rivera for a delivery job and he needs that truck to haul crepes! I get for Western nations, the US is pretty lousy on poor people, but financial idiots exist everywhere. Certainly the state hasn't figured out a way to protect people from their BWM decisions.
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Jul 2, 2018 21:37
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Bird in a Blender posted:I would assume that even France has towns that get zero public transit.
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Jul 2, 2018 21:42
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If Jacques can afford to drive his truck at 1.50 EUR per liter of petrol (or ~$6.50 USD/gallon) he's probably going to afford to have some money set aside to fix it.
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Jul 2, 2018 21:44
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I don't know about France but Ireland has a bunch of emergency needs social programs you can avail of: http://www.citizensinformation.ie/en/social_welfare/social_welfare_payments/supplementary_welfare_schemes/ Most require you to be poor. If O'Jaque has decent earnings but is just lovely with money then lol dwi
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Jul 2, 2018 21:45
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Transit chat is getting tiresome. What if Jacques needs to fly to Quebec for a wedding and is short on cash and has no credit card The question is what do people in other countries do in stead of payday loans
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Jul 2, 2018 21:54
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Baxate posted:Transit chat is getting tiresome. What if Jacques needs to fly to Quebec for a wedding and is short on cash and has no credit card Yeah, what if Jacques has a structured settlement, but needs his money now. C'est mes Euros et je le veux maintenant!
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Jul 2, 2018 22:00
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Call Je Suis Wentworth!
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Jul 2, 2018 22:10
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GoGoGadgetChris posted:It is a BFC rite of passage to ask for advice on where to keep some money for either like 1 or 10 years that might be for a house down payment or potentially early retirement and ideally with high growth but available any time and without volatility Poast your own thraed, hth
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Jul 2, 2018 22:15
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Baxate posted:Transit chat is getting tiresome. What if Jacques needs to fly to Quebec for a wedding and is short on cash and has no credit card
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Jul 2, 2018 22:20
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Splicer posted:You... you don't go to the wedding. Sorry bro I'm an american so I don't understand this "don't buy things you can't afford" thing???
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Jul 2, 2018 22:21
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GoGoGadgetChris posted:Call Je Suis Wentworth! 
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Jul 2, 2018 22:23
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Splicer posted:You... you don't go to the wedding. ????
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Jul 2, 2018 22:23
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Aren't truckers here in ameristan  independent contractors responsible for buying and repairing their own vehicles? And if so, is it different in Europe?
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Jul 2, 2018 22:24
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Splicer posted:You... you don't go to the wedding. How will Jacques keep up with the Dubois if he had to admit he can't afford to travel for a wedding?
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Jul 2, 2018 22:27
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Doc Hawkins posted:Aren't truckers here in ameristan there is a mix of owner-operators and company-owned trucks. OOs generally like being OOs
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Jul 2, 2018 22:29
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Doc Hawkins posted:Aren't truckers here in ameristan That depends on the company. Generally you can make more money as an owner-operator but it is possible to get a job driving a company truck.
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Jul 2, 2018 22:31
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