|
Joined: Apr 2010
Posts: 408
Campfire Member
|
OP
Campfire Member
Joined: Apr 2010
Posts: 408 |
How much on-hand liquid cash do you keep around? For example, in a pass book savings account? I'd like to take about $20k and put into something that's going to give me a better rate of return. This cash would be used for a car when the current commuter bites the dust in 2 to 3 years. I'd still have $10k in the pass book account.
|
|
|
|
Joined: Oct 2011
Posts: 59,158 Likes: 24
Campfire Kahuna
|
Campfire Kahuna
Joined: Oct 2011
Posts: 59,158 Likes: 24 |
Paul
"I'd rather see a sermon than hear a sermon".... D.A.D.
Trump Won!, Sandmann Won!, Rittenhouse Won!, Suck it Liberal Fuuktards.
molɔ̀ːn labé skýla
|
|
|
|
Joined: Jan 2006
Posts: 5,720
Campfire Tracker
|
Campfire Tracker
Joined: Jan 2006
Posts: 5,720 |
whiskey,women and guns....be a hell of a week!
Come on America, Athletes and actors are not heroes, only soldiers, airmen,marines and sailors get that respect�and let's add firemen and LEO's
|
|
|
|
Joined: Oct 2003
Posts: 3,859
Campfire Tracker
|
Campfire Tracker
Joined: Oct 2003
Posts: 3,859 |
Was my first thought too. I'd like to invest a little too, but for now the focus is getting the mortgage paid down.
|
|
|
|
Joined: Oct 2011
Posts: 59,158 Likes: 24
Campfire Kahuna
|
Campfire Kahuna
Joined: Oct 2011
Posts: 59,158 Likes: 24 |
I say this from experience, there is no better feeling than to be debt free! I am a slave to no one, well except for the wife.
Paul
"I'd rather see a sermon than hear a sermon".... D.A.D.
Trump Won!, Sandmann Won!, Rittenhouse Won!, Suck it Liberal Fuuktards.
molɔ̀ːn labé skýla
|
|
|
|
Joined: Sep 2009
Posts: 13,860
Campfire Outfitter
|
Campfire Outfitter
Joined: Sep 2009
Posts: 13,860 |
I say this from experience, there is no better feeling than to be debt free! I am a slave to no one, well except for the wife. Well stated.
|
|
|
|
Joined: Oct 2002
Posts: 96,121 Likes: 1
Campfire Oracle
|
Campfire Oracle
Joined: Oct 2002
Posts: 96,121 Likes: 1 |
I like access to a year's income.
"Dear Lord, save me from Your followers"
|
|
|
|
Joined: Sep 2003
Posts: 23,483 Likes: 10
Campfire Ranger
|
Campfire Ranger
Joined: Sep 2003
Posts: 23,483 Likes: 10 |
Depends on how secure you job is, how good your cash flow is, and your discipline to not spend it on whatever crosses your path.
Me? I'd stick it in the market, but I have a higher tolerance for risk than most, and have good cash flow. Park 20k in a closed end mutual fund like EVV right now and you'll get $1771 in dividends a year. It'll be like getting your own alaska dividend to spend every year. Reinvest it, and it'll keep getting better and better.
|
|
|
|
Joined: Jul 2011
Posts: 23,453
Campfire Ranger
|
Campfire Ranger
Joined: Jul 2011
Posts: 23,453 |
Hang onto it liquid.
You can buy a decent commuter, or repair yours, for under $5k and get several years run out of it.
Cash on hand is king.
America needs to understand that our troops are not 'disposable'. Each represents a family; Fathers, Mothers, Sons, Daughters, Cousins, Uncles, Aunts... Our Citizens are our most valuable treasure; we waste far too many.
|
|
|
|
Joined: Feb 2003
Posts: 18,854
Campfire Ranger
|
Campfire Ranger
Joined: Feb 2003
Posts: 18,854 |
Buy 16 whopping ozs of gold! LOL.
Seriously.......I'd not invest in the market at this moment in time. It's at a high and now on its way down, looks like. Rates will probably be going up soon, so I'd keep it as close to cash as I could for now.
Anybody remember the 18% CD rates when oil took a schitt during the late 70's / early 80's?? Pretty much financed my college education.
Sent from my Dingleberry Handheld Wireless
|
|
|
|
Joined: May 2002
Posts: 15,604 Likes: 1
Campfire Ranger
|
Campfire Ranger
Joined: May 2002
Posts: 15,604 Likes: 1 |
Without having some sort of picture of your finances it is difficult to advise, but I'm guessing that you're just looking for ideas...
If it were me with $20k to find a home for I'd;
a) put the first $1000 in junk silver.
b) give the second $1000 to heifer int'l.
c) begin looking for property to buy with the rest.
"Chances Will Be Taken"
|
|
|
|
Joined: Sep 2009
Posts: 13,860
Campfire Outfitter
|
Campfire Outfitter
Joined: Sep 2009
Posts: 13,860 |
You can buy a decent commuter, or repair yours, for under $5k and get several years run out of it.
You can get a semi-beater for 5K, I think. I've bought several 4-7yo Hondas and Toyotas for 9-11K. I bought a 2000 CRV in 2005, my daughter is still driving it.
|
|
|
|
Joined: May 2002
Posts: 15,604 Likes: 1
Campfire Ranger
|
Campfire Ranger
Joined: May 2002
Posts: 15,604 Likes: 1 |
I like access to a year's income. As do I, but a passbook is about the worst thing I can think of to do with capital...
"Chances Will Be Taken"
|
|
|
|
Joined: Sep 2011
Posts: 60,996 Likes: 18
Campfire Kahuna
|
Campfire Kahuna
Joined: Sep 2011
Posts: 60,996 Likes: 18 |
My crystal ball is in the shop broke down, but, I should have known that was going to happen.
Avoiding paying interest seems to always trump interest you might draw.
These premises insured by a Sheltie in Training ,--- and Cooey.o "May the Good Lord take a likin' to you"
|
|
|
|
Joined: Apr 2010
Posts: 408
Campfire Member
|
OP
Campfire Member
Joined: Apr 2010
Posts: 408 |
House is paid off. No debt. Job is secure. Retirement investments are pretty solid. Plan to retire in 10 years. 30% of our income goes into the 401k and a little more into IRA's
The next vehicle won't be a beater. I want something that my wife can hop in and drive 1000 miles without me worrying about the car breaking down on her.
Thanks for your advice.
Last edited by J4Me; 12/14/14.
|
|
|
|
Joined: Jan 2001
Posts: 18,080
Campfire Ranger
|
Campfire Ranger
Joined: Jan 2001
Posts: 18,080 |
In that case have an extremely fine, exhibition grade Mauser made up in your favorite caliber!
Mike
God, Family, and Country. NRA Endowment Member
|
|
|
|
Joined: Jul 2011
Posts: 23,453
Campfire Ranger
|
Campfire Ranger
Joined: Jul 2011
Posts: 23,453 |
House is paid off. No debt. Job is secure. Retirement investments are pretty solid. Plan to retire in 10 years. 30% of our income goes into the 401k and a little more into IRA's
The next vehicle won't be a beater. I want something that my wife can hop in and drive 1000 miles without me worrying about the car breaking down on her.
Thanks for your advice. Buy the wife a car. Cash talks. Other than that, go on a hunt that you've been dreaming about.
America needs to understand that our troops are not 'disposable'. Each represents a family; Fathers, Mothers, Sons, Daughters, Cousins, Uncles, Aunts... Our Citizens are our most valuable treasure; we waste far too many.
|
|
|
|
Joined: Jul 2011
Posts: 23,453
Campfire Ranger
|
Campfire Ranger
Joined: Jul 2011
Posts: 23,453 |
You can buy a decent commuter, or repair yours, for under $5k and get several years run out of it.
You can get a semi-beater for 5K, I think. I've bought several 4-7yo Hondas and Toyotas for 9-11K. I bought a 2000 CRV in 2005, my daughter is still driving it. In this area, you can buy a pretty danged good commuter for $5k or less, and a rather decent vehicle for $10k or less.
America needs to understand that our troops are not 'disposable'. Each represents a family; Fathers, Mothers, Sons, Daughters, Cousins, Uncles, Aunts... Our Citizens are our most valuable treasure; we waste far too many.
|
|
|
|
Joined: May 2002
Posts: 15,604 Likes: 1
Campfire Ranger
|
Campfire Ranger
Joined: May 2002
Posts: 15,604 Likes: 1 |
House is paid off. No debt. Job is secure. Retirement investments are pretty solid. Plan to retire in 10 years. 30% of our income goes into the 401k and a little more into IRA's
The next vehicle won't be a beater. I want something that my wife can hop in and drive 1000 miles without me worrying about the car breaking down on her.
Thanks for your advice. In that case have an extremely fine, exhibition grade Mauser made up in your favorite caliber!
Mike I'd have to hit the squirrel timber and think it over... Then I'd likely decide to hunt with the rifles I have, and buy another little squirrel timber...
"Chances Will Be Taken"
|
|
|
|
Joined: Jul 2004
Posts: 5,932
Campfire Tracker
|
Campfire Tracker
Joined: Jul 2004
Posts: 5,932 |
Beware of thieves, scammers and dishonest members on the "Fire" classifieds. Ya there is a thief here too. Whatever!!
They're all around the CampFire and everywhere.
|
|
|
|
185 members (29aholic, 308xray, 1beaver_shooter, 1minute, 2500HD, 26 invisible),
1,756
guests, and
951
robots. |
Key:
Admin,
Global Mod,
Mod
|
|
Forums81
Topics1,192,863
Posts18,497,192
Members73,979
|
Most Online11,491 Jul 7th, 2023
|
|
|
|