I've always been good at saving money, but what to do to make it make me money?

[Airpark]

Tried real estate and did quite well with the boom. Got out just before the bust.

Looked around and found tax liens....where I invest they pay 1.5 percent per month or 18 percent per year.

Risk, of course, not near as much as driving down the Interstate.

Education...needed...go to local courthouse...talk with librarian...get all the data on how your state does them....take it home and read it at least three times to get past the legalese.

Some states sell tax deeds, not have tax liens.

You are loaning the taxing jurisdiction the money for the interest or penalties they collect when the delinquent tax payers pay up.

DO NOT jump in with both feet....try it on a small scale, say $10,000 start basis.

You can use a self directed IRA.

If they do not pay you get the property.

Work...I work about 15 days out of the year.

Income....done right....your $$$ will double every 4 years.

Bankers rule of 72 says at 18 percent you double every 4 years.

If you get a good piece of real estate, do a Quiet Title and clear the title and then do whatever you please with it.

Sounds simple....yes it is....just requires a bit of due diligence...not someone else telling you what to buy or how.

 

[James&theGiant1911]

I would not hire an investor, I have an advanced degree but you do not need one or have to a series 7/63 to do it. It works like a savings accounts and most online houses allow you to monitor, trade and sell or buy whatever you want even from app based smart phone devices.

Several houses allow you to do this and it depends on you, PM me if you want the name of the one I use but there are a lot out there. I just went through a stock split and now have exponentially more shares than I once did. Only around 45 percent of the people invest their money into the stock market IRA or traditional 401ks. While some will say it is risky, looking to sell a 11 dollar stock when it hits 20 bucks, real money is made in the long term. So think hundreds of thousands and millions instead of hundreds or thousands the only real way to see value in it because you can not really touch it till you retire anyway without paying taxes on the money. If I could give any advice to anyone reading this is yes it is risky but so is gambling and while it is not like a casino it still can make you a lot of money in the long run. As far as how it works, link your bank account to it, deposit money into it and invest. I am sure that a Financial Adviser would tell me that I am doing it all wrong but I have been getting 30-40 percent returns on my money year over year for as long as I have been in it and I am diversified and vested so it is nothing that can not be done by anyone with half a brain and a sense of what might be a good investment. Good Luck.

 

[HOUSTON RICK]

I have always done well directly owning stocks in dividend reinvestment plans ("DRIPs"). I bought 30 blue chip DRIPS in the 1980's and all but one have done well. Financial advisors are the used car salesmen of the financial world. I hear there are good ones, but I have never met one. Good luck!!

 

[dcxplant]

You sure are on the right track! You have mastered the first and most fundamental rule: It's not what you make, it's what you keep that matters.

Buy distressed assets that you can turn around based on your skills and knowledge, and buy great assets from distressed people. Not "good" or "mediocre" assets, but high quality assets from people whom did not pay attention to the first rule and overextended.

The opportunities are endless, and the strategy is timeless and apropos in any market environment.

 

[The Celt]

Crossroads at midnight.

 

[rwsmith]

The first questions....

How old are you and what do you want?

I started long ago and solid performing stocks have been good but the value has fluctuated wildly. Bonds are pretty safe.

If you don't want to do a lot of research Mutual Funds are easy. I haven't checked on the performance in the last few years but for a while, they tanked after years of good performance. Does anybody know how they have been doing?

WHOEVER your broker is make sure that you know people that have used them for a long time. Some brokers eat people up by making frequent changes and charging a brokers fee. Once a year is about the shortest length of time to wait to make changes. If you are relatively young, be in it for the long haul. If you are older and want to see an increase, you might get a little riskier.

 

[Mike McLellan]

One quick trip to Columbia.

 

[Bullet Bob]

I would recommend you take an adult education course on investing. Cheap, and gives you the basics.

And, a second for the 401k thing if available.

 

[CAJUNLAWYER]

Pick a fast horse.

 

[Damn Yankee]

Does the big money know something?

Why is the big money dumping stocks? | Talking Numbers - Yahoo Finance@@AMEPARAM@@video/why-big-money-dumping-stocks-213248736.html@@AMEPARAM@@why-big-money-dumping-stocks-213248736

 

[olcop]

saving money

I've got a good saving going, and I've always put as much of my check each week into my saving as I could.
I haven't made a withdraw in about 8 years.
Anyway, my money is just in the bank drawing next to nothing.
I've never been much into investing, so any advice?

This is probably the wrong group of people to ask about financial advice,
Most of us are constantly broke from buying guns!
At least, I am anyway.
olcop

 

[feralmerril]

Never bet on a gray horse on a cloudy day.

 

[1morethan8]

One thing I would have is a Traditional IRA.
I've been trading stock through one for several years.
Any gain isn't taxed until you make a withdrawal.
You are the one who directs which investments you want to make
if they are allowed under the guide lines of the IRA.
Check to see what is considered an investment under the plan..
land, stocks, metals, etc.

Just remember.. investment broker is spelled, "BROK-ER"...
you.. not them!

 

[JJEH]

You could invest in a firearms business

Or you can buy some stock, gold and silver, bet on horses or go to the casino.

I think buying a rental property makes good money too if you can deal with drama, repairs and tenants.

 

[1morethan8]

IF.. you draw a wage from a company that has a 401K, like I did...
The company would match the first 5% of my wage.. 100%!
The 401K was with Fidelity and my account was placed in a very low risk fund. Sure.. it only made 1%-2% return a year...
BUT.. I placed $5,000 a year into the 401K.. AND they placed $5,000 match also! My friend.. that's a 100% return per year!

Then when I retired, I rolled over the 401K into my IRA!

 

[arjay]

Marry a rich girl,no prenup [emoji1]

 

[feralmerril]

He who marrys for money generally earns it.

 

[Road Rat]

Go back to 1995 and buy mutual funds!!! They tripled in 5 years!!!

 

[luckyshot572]

Investment

I have a well established company that is currently looking for an investor for expansion, pm me and I can give you details if you might be interested.

Alternatively, I believe that real estate tends to be one of the safer investments, and it's hard to go wrong with bonds. A lot can depend on how risk adverse you are, and how you want to balance that with profits potential. Personally, I've always had bad luck when it comes to stocks, and no longer consider them reliable but I know others often fair much better.

I know there seem to be a fair number of members on here that collect high grade revolvers. Which will most certainly appreciate over time, and will be a safe investment, although I'm not certain how the return would work out over a long period.

 

[rwsmith]

Some people.....

This is probably the wrong group of people to ask about financial advice,
Most of us are constantly broke from buying guns!
At least, I am anyway.
olcop

Some people are able to buy guns because they have invested wisely. It's just that I'm not one of them.