Investing beyond the gold

[BudT]

Considering it all with today's situation and across the board does one sit on money or invest it, not in stocks but other safe investments. Now just for kicks and giggles lets say a couple had 100,000.00 in cash to drop into something. Safe is important to this older couple, tax implications would be another. Those of us that have crossed the 70+ line realize that we are not going to live long term so long term is useless unless it can be figured out how to get around the inheritance parts without being wiped out by these morons in DC. or a state. I am not a money guy, I am a very frugal saver. I hate banks with a passion and will never trust one. Where to go? My wife is the type that doesn't want to die with a ton of money, her mother did that and it has been a nightmare. We both believe in having enough to get by even in the worst of times. Money is a thing to me that it's only use is to get the things you need and want or think you need but that's a whole nother discussion, otherwise I don't want the stuff and all the troubles it has brought family and friends of mine that had a lot of it. No I wont send you a check either:evil6:
What to do?
BudT

[Allen]

If the govt didn't steal from us, land. Stocks, if the posibility of them going to zero w/o notice wasn't an issue. Guns/ammo, again if the govt didn't steal from us. Diamonds maybe if they could be bought at jeweler's cost and not retail. All of these are short term items with the thoughts of having something someone else would want.

Long term, precious metals, and heads back to the same path as your last thread and why it turned into a SHTF scenario.

If I had your money I would burn mine. Kidding. You seem so be blessed though with some $. Why not buy some land and travel some (U.S. only)? Do something for you and your wife now before you get too old to do things. Leaving your kids money and security is one thing but you don't have to leave them everything.

[dryheat]

I don't think either one of you would make good investment advisors. Money should be fun. We are probably all too old for long term investment. Sit down with a paper and pencil and randomly make some notes. Do I have enough? If so, how can I use the "excess"(like we will ever have an excess). What would I REALLY like to do with my money. OK, here's the one that gets touchy; write out a will. That one gives people headaches and it shouldn't. If you don't want your inheritance to be "a nightmare" for someone else, prepare a little. Remember, you can write out a will every week if you want to. A will shouldn't be revenge. What is it your wife always wanted? A better pressure cooker? A trip to Yellowstone? If your not used to having fun(Archie said, Gawd, I hate fun) try something small before you book that trip to Hawaii. Or go whole hog and go to Hawaii. Ah well, then there's the mask thing. It sounds uncomfortable and I'm flying 3K miles next week. But soldgier up. Not telling anyone what to do.

[BudT]

I don't think either one of you would make good investment advisors. Money should be fun. We are probably all too old for long term investment. Sit down with a paper and pencil and randomly make some notes. Do I have enough? If so, how can I use the "excess"(like we will ever have an excess). What would I REALLY like to do with my money. OK, here's the one that gets touchy; write out a will. That one gives people headaches and it shouldn't. If you don't want your inheritance to be "a nightmare" for someone else, prepare a little. Remember, you can write out a will every week if you want to. A will shouldn't be revenge. What is it your wife always wanted? A better pressure cooker? A trip to Yellowstone? If your not used to having fun(Archie said, Gawd, I hate fun) try something small before you book that trip to Hawaii. Or go whole hog and go to Hawaii. Ah well, then there's the mask thing. It sounds uncomfortable and I'm flying 3K miles next week. But soldgier up. Not telling anyone what to do.

I think you have drifted away from shore in what I have talked about.

[Art]

Disclaimer: I'm no financial guru.

Short term municipal bonds might be a good way to go in a selective way. You'll make a little on your $100k without a huge risk. Unless inflation really skyrockets the interest should mean you'll at least avoid some or all the devaluation of your money, and, if things are good, as I said, make a little.

Unless you are a finance wizard yourself you may need a reputable broker to help with that.

[dryheat]

Keep doing what your doing. Be frugal. Save a little consistantly. Don't try play with exotic investing(gold could be in that group). Pay off the house. Pay all the bills on time.
I have never in forty years had a balance to pay off on the charge cards. I didn't even know there was such a thing as a credit score. Then the guy at the bank(I kind of like the bank) told me he'd never seen such a high score. What I kick myself for, when the crazy housing market crashed(due to real silliness) I didn't buy that cabin in the mountains. There was an oppurtunity that I just watched and missed.

[Allen]

What I kick myself for, when the crazy housing market crashed(due to real silliness) I didn't buy that cabin in the mountains. There was an oppurtunity that I just watched and missed.

All indicatons show you may get your chance again.

I too wish I had bought many of the foreclosures that came up back in 2008. Problem was, at the time, we didn't know how long things were going to last or perhaps go down even further.

[BudT]

Keep doing what your doing. Be frugal. Save a little consistantly. Don't try play with exotic investing(gold could be in that group). Pay off the house. Pay all the bills on time.
I have never in forty years had a balance to pay off on the charge cards. I didn't even know there was such a thing as a credit score. Then the guy at the bank(I kind of like the bank) told me he'd never seen such a high score. What I kick myself for, when the crazy housing market crashed(due to real silliness) I didn't buy that cabin in the mountains. There was an oppurtunity that I just watched and missed.

Interesting you should bring up those things. My house is paid for, all bills are paid off, in other words I owe nothing except the normal monthly's that must be paid monthly, my credit score is between 800-850. I don't invest I save. Not to worry I wont ask about investing again nor will I discuss it in here again it was a mistake. Have a nice day.
BudT

- - - Updated - - -


All indicatons show you may get your chance again.

I too wish I had bought many of the foreclosures that came up back in 2008. Problem was, at the time, we didn't know how long things were going to last or perhaps go down even further.

With adversity come's opportunity.

[Vern Humphrey]

All indicatons show you may get your chance again.

I too wish I had bought many of the foreclosures that came up back in 2008. Problem was, at the time, we didn't know how long things were going to last or perhaps go down even further.

Buy on a falling market, sell on a rising market.

[Allen]

Buy on a falling market, sell on a rising market.

When I try that the market just keeps falling and the particular company or companies go under.

[Mark in Ottawa]

The comment above about making out a will is critical. If you and you spouse do not have wills, then your estate will be distributed by the government according to rules set by them. The rules vary by jurisdiction and are generally pretty logical - but they may not reflect what you would want. If you have been estranged from one of your children, for example and want to leave that kid a nominal dollar, that will not happen. The kids will share equally. If you wanted to leave money to the local SPCA unit, that won't happen either without a will. In addition without a will someone will have to go to court to ask the court to appoint an executor at a lot more cost. Bottom line, make a will. You can do this using a will kit that you find on-line but for once, use a lawyer since the rules vary by jurisdiction.

By the way, did I ever mention that in addition to being an engineer, until I gave it up last year I held the designation of Certified Financial Planner and self published a book on Amazon on this stuff. (2001 Boring Things That You Should Know About Your Finances)

[dryheat]

Some lawyers feel it's beneath them to mess with Joe's will. You can just get the forms on line. If you don't like banks and lawyer's don't leave your heirs a mess that involves banks and lawyers.
Wills can generate some real fuss(movies have been made about them). If you have a family that is combative, set up a will that is very well thought out. -but for once, use a lawyer-
Yeah, a real lawyer can referee in a logical, cool manner. Every been to traffic court? It's entertaining to watch people represent themselves.

-Quote Originally Posted by Vern Humphrey View Post
Buy on a falling market, sell on a rising market.-

-When I try that the market just keeps falling and the particular company or companies go under.-

Been there, done that.

Timing is everything and it's darned hard to do. Talking stock market now. It's hard to believe that you can be wrong 100% of the time. You'd think it would statistically impossible, but I am witness to it. Exit strategy; That's setting a hard number on when you bail and stick with it. "It'll bounce back, it always does" is not a plan. Markets fall down way better than they fall up. Most of us don't have ten years to wait for the market to recover. I'm the last guy you want to listen too about investing but incredible, I've somehow made a little money. Some small win's..and loss's in the market. The boring CD;s, IRA's and Money Market funds(which aren't as secure as you think), were consistently profitable. You'll never go broke taking a profit. I've always liked that line.

[jjrothWA]

Forget bonds, remember what obama did to the GM Bondholders? All for the support of the unions.

Get basic commodities, Salt, for preserving food. land for growing the same. [ even inside a building for year round farming.

Brass and copper items.