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    Lightbulb Investments, Starting a Business, What to do with your money?

    Well the title is basically self explanatory. Over the next few years I will be inheriting a sum of money. I'm not going to lie I'm not known to be the most responsible person when it comes to money so I thought I'd get some input from some knowledgeable people from the interwebs. I could just turn to my father and have him start me on to something but I feel like that's too expected. My friends are awesome don't get me wrong I just feel like their opinions wouldn't be as solid or make any sense at all for that matter. I'm not stupid by any means, ignorant sometimes? probably. All unintentional of course. I've always been known for have a strong natural doubt when it comes to things that matter so I figured I can only benefit from the serious posts I get out of you guys.

    Thanks in advance fags Click here to enlarge <3

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    duplex or a few condos (depending on how much $ you have) would be the best way to start. then start watching cnbc. worst case you can bum at home and live off rental income. apartments can get better returns but it's more work and overall shadier.

    playing stocks is pretty damn fun, though i suspect the markets are rigged and therefore i treat it like a long term poker game. i invest/play with about $10k total and it's playdoh relative to my total worth

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    I need to do a lot of research on how the market actually functions, I also thought about learning a trait and mastering it is my best bet and investing into myself so I can be dependent on where my actual income is coming from. mainstream media is for sheep. Financial stability must be nice, though.

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    information is fairly free these days. a few years ago i hung out at b&n almost every day for 5 yrs, bought coffee and read their books. must have digested 500 books total. there's stuff all over the web and the documentary channels on tv always feature professors.

    if you play it right you can avoid a real job. fried chicken or morton's, used 996 or new gt2, etc

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    Like you say information is free, as reason per this post. You can only benefit from opinions, otherwise you don't have to embrace them. There's no one single ingredient to success, so hopefully it will play out alright.

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    I don't trust the housing market, nor do i trust having one as a rental.. tenants have too high a chance to suck, and housing can stagnate, or crash... then again, over in the states, houses in some areas are at rock bottom.

    The way i'm investing my money, i'd say most people here would disagree with (and no, i don't mean 'spending it on my car' hahaha, or distrust/not understand.
    boop

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    I have been a trader for 25 yrs... used to be head of prop trading at a few global inv banks... then ran my own hf and inv bank.. now a retired bum... I used to trade my own money a lot....... too hard now !

    HONESTLY, in 27 of the last 30 yrs things have been easy/fun.............. now with artificially manipulated interest rates.... EVERYTHING IS CONFUSING and scary

    Luckily you have a few years before you get your loot... and yes ask your Dad for some advice......... trust is key

    at the moment I have a corp retirement fund fully invested in 7-10 year corp bonds ( the fund accumulates tax free ) at avg 5.7%... that is about 5% of our assets increasing each year by as much as we can put in to avoid taxes on income

    If you are getting more than $300k I would STRONGLY LOOK AT A DEFINED BENEFIT PENSION PLAN AFTER setting up your own company.......... it is tax free and will accumulate long term...... then you can buy whatever investments.... ask your dad

    We have 6% of our liquid in muni bonds at about 5.4% tax free long term (we don't need this loot) so it just sits there

    We have a house worth about 14% of our net assets... a city apt worth about 12% our net assets.... we live in both... we have family who own investment property... it is a tough business dealing with tennants... trust me

    1 mutual fund diversified which has 4% of our assets and the balance is in cash and my missus' business ie most our net worth is cash or cash savings to support her fashion business which now only deals with higher quality retailers

    I am really scared if we get an economic shock..... stocks are in la la land... just like they were when I lived in Japan at the height of their bubble...

    FWIW - the Nikkei was 38000 when I first started trading it in 1990... was 20000 when I lived there in 93/94... then they cut interest rates to 0% and it fell 1995-2009 to 6500 or so........... sound familiar.. btw it is now only at 14500 despite them and us pumping and pumping cash

    GOOD LUCK AND YES ASK YOUR DAD
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    Are buying going concern businesses not a option in the States. Why I ask is it seems everyone with money there looks for a passive income stream or so it seems to me.

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    Changing rules on capital gains tax makes for more difficult business transfers... eg if we sold our business we would prefer to sell the company stock and strip out the cash... and pay CGT on the increase in value of said business... whereas purchaser would prefer not to buy the corporation etc

    Also with changes to tax laws under Obamacare and other tax changes it is far more costly and difficult if you have employees etc today than it was say under President Bush
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    PHOT Growlife, INC.
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    Click here to enlarge Originally Posted by bmwtek Click here to enlarge
    Well the title is basically self explanatory. Over the next few years I will be inheriting a sum of money. I'm not going to lie I'm not known to be the most responsible person when it comes to money so I thought I'd get some input from some knowledgeable people from the interwebs. I could just turn to my father and have him start me on to something but I feel like that's too expected. My friends are awesome don't get me wrong I just feel like their opinions wouldn't be as solid or make any sense at all for that matter. I'm not stupid by any means, ignorant sometimes? probably. All unintentional of course. I've always been known for have a strong natural doubt when it comes to things that matter so I figured I can only benefit from the serious posts I get out of you guys.

    Thanks in advance fags Click here to enlarge <3
    Just give it to me.
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  12. #12
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    Click here to enlarge Originally Posted by louis redfoot Click here to enlarge
    duplex or a few condos (depending on how much $ you have) would be the best way to start. then start watching cnbc. worst case you can bum at home and live off rental income. apartments can get better returns but it's more work and overall shadier.
    Bigno. This. This and that's about it.

    The nice thing if things go sour you always can live in your duplex, condos, units, whatever.
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    Click here to enlarge Originally Posted by Flinchy Click here to enlarge
    tenants have too high a chance to suck
    You just throw them out or give them a notice to move.

    Also this is why you have credit and background checks to cut down on the garbage. In the USA the government also pays for a lot of peoples rent (it's insane) so if you get someone under the housing programs you just sit back and collect a check from the government.
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    Seriously, invest in growing markets, like real estate, marijuana, etc. Most importantly DIVERSIFY! DIVERSIFY! DIVERSIFY! This means buy some real estate, and preferable in Florida, Arizona, somewhere where wealth will continue to go for years down the road, do not invest in liberal areas like California, New York, east coast, etc. in real esate. Why? Well, economies tend to fluctuate and be much less stable not to mention much higher taxes. If you buy in AZ, FL, you can rent by the season, charge a premium, have the place pay for itself, and it would be older "snowbirds" who won't wreck your place.

    Next, stock market. Invest in Marijuana, seriously, it's a vastly growing market, very lucrative. Just look at PHOT (Growlife, INC.) I was following this stock all of last year and then completely spaced out and missed the 300% increase, but it's not too late.

    Now, key word is still diversify, this is even more important in the stock market, diversify investments, like buy into oil, marijuana, technology, a mutual fund, start an IRA, do more than one thing.

    Ok, so now you got real estate, stock market, add another asset. Gold, silver, etc. Something that will grow along with inflation. Inflation is your enemy so you need to invest in things that will overcome inflation.

    Lastly, just be smart with your money, as mentioned above, don't buy things that are going to lose a ton of value in 2 years, this is pretty obvious, just pick an amount and don't spend over that amount, it's what you have to do when going to a casino, strip club, performance shop, etc.
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  15. #15
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    Click here to enlarge Originally Posted by mjmarovi Click here to enlarge
    somewhere where wealth will continue to go for years down the road, do not invest in liberal areas like California,
    LOL you're crazy man California is the best choice. Arizona doesn't even compare. California real estate is like mining gold and it's the wealthiest state by far.
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  16. #16
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    Click here to enlarge Originally Posted by Sticky Click here to enlarge
    LOL you're crazy man California is the best choice. Arizona doesn't even compare. California real estate is like mining gold and it's the wealthiest state by far.
    LMAO, your taxes are through the roof, the state has been hanging in limbo of bankruptcy for years, wealthiest state? Maybe there are a lot of wealthy people there, but the state itself is far from wealthy, and the people that live there pay for it. One of the best places to buy real estate in the past years is Seattle, NOT California.
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  17. #17
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    Click here to enlarge Originally Posted by mjmarovi Click here to enlarge
    LMAO, your taxes are through the roof, the state has been hanging in limbo of bankruptcy for years, wealthiest state? Maybe there are a lot of wealthy people there, but the state itself is far from wealthy, and the people that live there pay for it. One of the best places to buy real estate in the past years is Seattle, NOT California.
    I'm sorry man you're advice is horrible. You have the right general idea regarding investment properties but considering units are going for $200k a pop in Orange County there is no better place with a larger affluent population and an increase in rentals due to how expensive land is getting.

    My taxes aren't a problem whatsoever.

    What the government is doing I can't control but the greatest amount of wealth in the United States is in California. It's also highly populated meaning housing is always in demand. If you own significant property here you're going to be just fine.

    Sorry, but you just don't know your stuff when it comes to California and you don't own any investment properties in California. It doesn't get any better than this if you can afford to buy something here.
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  18. #18
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    Click here to enlarge Originally Posted by Sticky Click here to enlarge
    You just throw them out or give them a notice to move.

    Also this is why you have credit and background checks to cut down on the garbage. In the USA the government also pays for a lot of peoples rent (it's insane) so if you get someone under the housing programs you just sit back and collect a check from the government.

    My cousins run section 8 housing... what a $#@!ing nightmare
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  19. #19
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    Click here to enlarge Originally Posted by Group.america Click here to enlarge
    My cousins run section 8 housing... what a $#@!ing nightmare
    LOL yep. Oh yes it is.
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    Stocks are risky right now without having a solid grasp of how things work. Luckily for me I got in around a time where you could invest in anything and quadruple your money over a couple years. I made a pretty solid killing, but I got in right after things went down and had just begun picking back up. I haven't really invested too aggressively in stocks lately.

    As for the housing market, I'm not sure about USA, but in Canada this is what my family does and everyone has made an absolute killing. I own a large variety of commercial, residential, agricultural real estate and can give you some examples. A couple of homes that we got approx 10 years ago for around half a million, just sold for over 1 million each this past summer and all 4 of them sold within 14 days of hitting the market at 99% asking price. We book brand new homes through builders every year as well and sell right after the closing. Profits used to easily come close to 50k per house sometimes, but with new tax rules the profits have been cut down a lot.
    As for renting out we do rent out a lot of homes and commercial units to stores, but the profit from rent alone isn't really worth the investment, the money comes if the prices begin to skyrocket. A lot of the rental homes we booked brand new have doubled in value and some of the older units have gone up about 100-150k while slowly paying off most of the mortgage just through rent.

    I have had bad tenants though who have ran away with thousands in rental money owed, but we usually rent out detached homes with the upstairs and basement being rented out to separate tenants, so we don't get totally raped if one person decides to be an $#@!. One of our commercial units right now owes over 60k in rent and renovations and I think it's been 3 years of us trying to get it back with no luck so far. He still rents the unit and pays his rent now, but he won't pay any of what he missed.

    Point being, rent alone usually isn't that great of a return although it is better than nothing. The house pays for itself through rent with some small profits so that you can hold it for a couple years hoping for some appreciation in home values. If the values begin to go up you can make some handsome profits.
    jb4+fbo+meth

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    taxes suck, gotta incorporate overseas and keep the income on the corporate balance sheet. then you're only taxable on the money you wire back. but if you live like a student, there are a bunch of usable exemptions. another trick is to get a visa card from a bank in singapore.

    another option is to fly alot, you can bring 10k cash per trip without declaring it.

    anyway, officially i only own a 15 yr old bmw so don't waste your time auditing me irs.

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    Click here to enlarge Originally Posted by Sticky Click here to enlarge
    You just throw them out or give them a notice to move.

    Also this is why you have credit and background checks to cut down on the garbage. In the USA the government also pays for a lot of peoples rent (it's insane) so if you get someone under the housing programs you just sit back and collect a check from the government.
    the process to get them evicted, is 1 month in arrears, then it's like another month to actually get the court order.. all this while they're trashing your house, and costing you thousands in unpaid rent

    this happened to my mother recently... probably $8k out of pocket.

    I'm talking 'nice' homes though, not one you'd ever be willing to use as commission/government housing.

    oh yeah, after the agent let them move in without taking bond. total cluster$#@!.

    tenants here have WAY more rights.
    boop

  23. #23
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    Click here to enlarge Originally Posted by Flinchy Click here to enlarge
    the process to get them evicted, is 1 month in arrears, then it's like another month to actually get the court order.. all this while they're trashing your house, and costing you thousands in unpaid rent
    You didn't get a security deposit? There's lot's of ways to evict them. At least here you have options to a degree. The law is on their side for the most part and it lets the parasites leech for longer than it should but it's ultimately your property.

    Click here to enlarge Originally Posted by Flinchy Click here to enlarge
    this happened to my mother recently... probably $8k out of pocket.
    I hate to say it but that's a lack of experience. You learn though.
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    Click here to enlarge Originally Posted by Flinchy Click here to enlarge
    the process to get them evicted, is 1 month in arrears, then it's like another month to actually get the court order.. all this while they're trashing your house, and costing you thousands in unpaid rent

    this happened to my mother recently... probably $8k out of pocket.

    I'm talking 'nice' homes though, not one you'd ever be willing to use as commission/government housing.

    oh yeah, after the agent let them move in without taking bond. total cluster$#@!.

    tenants here have WAY more rights.
    exactly why there's no envy in being a slumlord: shady tenants, more repairs, drugs/crime, and high turnover. the one exception being college towns. it's a little easier with condos or houses. a good tenant will send checks for years without issues. i wouldn't do more than 2-3 houses, use it to set a minimal standard of living. and then invest the rest in other stuff, ideally overseas because taxes here will not get better (think france).

    house hostels are becoming popular in the hood: $100/month to rent a bed. that is where things are headed.
    Last edited by louis redfoot; 02-13-2014 at 09:29 PM.

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    We need to ask the kid how much loot he is getting or "BANK" as you young guys call it... maybe he should invest in my "I'm gonna drive a P1 McLaren all around Europe and stay in 5 star hotels and eat in every Michelin 2 to 3 star restaurant for 3 years project" thingy
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