# Financial advice needed



## Omar driving (Dec 5, 2021)

I've managed to save $70,000 over the years. I have no debt and hold the title for my van. Dealer is willing to buy my van for $18,000. I'll have $88,000 at hand if I sell my van. What should/could I do with all this cash? It has been resting in a checking account not even a savings account. I will be OTR trucking in April. I plan to leave Cali for Nevada. Should I keep adding more into it and save for a house or should I invest it in something? I don't know the ABC of investing. I am sure inflation is eating my money.
Any advice is appreciated. I am not a big risk taker also. I am also thinking of buying my own truck before I buy a house.


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## colamacy (Oct 25, 2021)

This is a GREAT time to be a seller. Sell the van. This is a horrible time to hold onto cash. Get your money out of your savings account.


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## Omar driving (Dec 5, 2021)

colamacy said:


> This is a GREAT time to be a seller. Sell the van. This is a horrible time to hold onto cash. Get your money out of your savings account.


I know but what should I do with my cash? What will you do with that cash if you are in my shoes?


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## Omar driving (Dec 5, 2021)

colamacy said:


> This is a GREAT time to be a seller. Sell the van. This is a horrible time to hold onto cash. Get your money out of your savings account.


I don't want to buy my own truck too soon. I want to be a company driver for at least one year


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## New2This (Dec 27, 2015)

Cocaine and hookers of course.

Seriously good job.

In addition, if dealer's willing to give you that, you could probably get significantly more selling it yourself. 

My guess is at some point there will be a correction and getting real estate in Nevada will be easier so cash will be king.


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## Omar driving (Dec 5, 2021)

Are diamonds a good and safe investment? Do diamond prices go up? Look I want to invest in some physical thing. I don't understand stocks.


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## _Tron_ (Feb 9, 2020)

Since you are a self-admitted non risk taker your choices are greatly simplified. Mainly because in this environment everything is at risk. Therefore consider buying a house. But not just any house. Property values are rising, but the _risk_ is they may reverse course. We live in an era of tremendous asset appreciation. For everything, including diamonds. But that could end, and even reverse at any time.

If you can find a house you wish to keep and live in well into the future, say a home you could retire in, then it matters not what happens to the properties value, as you will not be selling.

If it was me, I'd find a place with a good water source and soil that can be planted in. But that's just me.


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## Ted Fink (Mar 19, 2018)

Biggest piece of advice I can give you is - don't ask Uber drivers for financial advice. I know about 10 drivers in my market and only one of them is semi-financially-secure. The other 9 are a flat tire away from not being able to buy groceries. If you want investment advice, talk to a financial advisor. Seriously. 99.9% of the readers of your post wouldn't know WHAT to do with $88k because they have never seen such a sum.

IN VERY VERY GENERAL TERMS... you have stated that you are risk-adverse. So go with bonds or index funds. Cue @ftupelo to fix the mess I just started.


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## Omar driving (Dec 5, 2021)

_Tron_ said:


> Since you are a self-admitted non risk taker your choices are greatly simplified. Mainly because in this environment everything is at risk. Therefore consider buying a house. But not just any house. Property values are rising, but the _risk_ is they may reverse course. We live in an era of tremendous asset appreciation. But that could end, and even reverse at any time.
> 
> If you can find a house you wish to keep and live in well into the future, say a home you could retire in, then it matters not what happens to the properties value, as you will not be selling.
> 
> If it was me, I'd find a place with a good water source and soil that can be planted in. But that's just me.


I want to become comfortable and confident with trucking before I decide to buy a house. As a company driver I expect to get paid $0.44 a mile over the road. I'll probably make $1000 a week after taxes. I know another company that pays $0.64-$0.69 a mile but they want experience. My plan is to buy my own truck or work for that company eventually. Till then I don't want inflation to eat my cash. How can I make 10% every year off my cash? You have any idea?


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## Omar driving (Dec 5, 2021)

This company that pays $.64 a mile clearly told me to bring one year experience and clean record and you are in. They are based in PA but hire drivers out of any state. After three weeks over the road they will make sure they give me a load that is going to Nevada. I get to keep their truck and take 4 days off. 1500 bucks a week after taxes. Plus health insurance and some company bonuses. That's fantastic.


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## Ted Fink (Mar 19, 2018)

Omar driving said:


> I want to become comfortable and confident with trucking before I decide to buy a house. As a company driver I expect to get paid $0.44 a mile over the road. I'll probably make $1000 a week after taxes. I know another company that pays $0.64-$0.69 a mile but they want experience. My plan is to buy my own truck or work for that company eventually. Till then I don't want inflation to eat my cash. How can I make 10% every year off my cash? You have any idea?


again, talk to financial experts. uber drivers (with few exceptions) don't know dick about money


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## Omar driving (Dec 5, 2021)

Ted Fink said:


> again, talk to financial experts. uber drivers (with few exceptions) don't know dick about money


Will do. Thanks.


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## _Tron_ (Feb 9, 2020)

Earning 10% involves a degree of risk. Seeking any return higher than what US Treasuries pay (considered the safest investment) starts adding risk. That means a return of 2-3% at best.

If I wanted to score higher than that I would open a trial account on elliotwavetrader.com, and check the box for high yield returns. Those guys are smart.


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## ftupelo (Mar 18, 2018)

_Tron_ said:


> Since you are a self-admitted non risk taker your choices are greatly simplified. Mainly because in this environment everything is at risk. Therefore consider buying a house. But not just any house. Property values are rising, but the _risk_ is they may reverse course. We live in an era of tremendous asset appreciation. For everything, including diamonds. But that could end, and even reverse at any time.
> 
> If you can find a house you wish to keep and live in well into the future, say a home you could retire in, then it matters not what happens to the properties value, as you will not be selling.
> 
> If it was me, I'd find a place with a good water source and soil that can be planted in. But that's just me.


This is all pretty reasonable advice. Your aversion to risk eliminates almost all investment options. It is important to purchase a house that you actually want to live in long-term - they say a house should be thought of as your home, not an investment. The fact that it should appreciate in value and provide a nest egg long term, is just an added bonus. What I wouldn't do is plow the whole amount into home equity. The average home in vegas is $400k, so you could put 20% down and essentially be left with nothing. Why not put 10% down and borrow the rest at 3.5%? That way, you still have a $48k cushion instead of $8k. What if you buy the home and for whatever reason fall on hard times - with $8k in the bank you may start defaulting on your loan within months. With $48k, you now have years of mortgage payments saved up.

If you want to buy physical assets, go to Audemar Piguet and get on the list for one of these bad boys. It'll only cost you $25,300 and then you can go flip it for $100k+ Boom! Now you have $165k.





__





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## _Tron_ (Feb 9, 2020)

By the way, one of the smartest investment analysts I know of is keeping a good portion of her funds in cash. I also keep a % of my investment funds in cash.

Yes, it is effectively a negative return, but it is a very safe storehouse. One of the smaller banks can keep your money and at least pay you a small return on the cash. I say smaller banks, because they are safer (fewer high risk leveraged investments with _your_ money).

Here's a list of the 5 safest US banks:








The 5 Safest Banks in the United States


On a global level, the safest banks in the world aren’t in the United States. The few that are may surprise you.




nomadcapitalist.com


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## Omar driving (Dec 5, 2021)

New2This said:


> Cocaine and hookers of course.
> 
> Seriously good job.
> 
> ...


Thank you but all the credit dont go to me. I received a grant and forgiven ppp loan.


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## _Tron_ (Feb 9, 2020)

@ftupelo, that's a friendly laugh (flipping the watch. Only you could come up with something like that.)

Cheers!


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## Atavar (Aug 11, 2018)

Ted Fink said:


> Biggest piece of advice I can give you is - don't ask Uber drivers for financial advice. I know about 10 drivers in my market and only one of them is semi-financially-secure. The other 9 are a flat tire away from not being able to buy groceries. If you want investment advice, talk to a financial advisor. Seriously. 99.9% of the readers of your post wouldn't know WHAT to do with $88k because they have never seen such a sum.
> 
> IN VERY VERY GENERAL TERMS... you have stated that you are risk-adverse. So go with bonds or index funds. Cue @ftupelo to fix the mess I just started.


^^^^^What he said!!!!!!!


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## ftupelo (Mar 18, 2018)

_Tron_ said:


> Earning 10% involves a degree of risk. Seeking any return higher than what US Treasuries pay (considered the safest investment) starts adding risk. That means a return of 2-3% at best.
> 
> If I wanted to score higher than that I would open a trial account on elliotwavetrader.com, and check the box for high yield returns. Those guys are smart.


The stock market returns 10.5% annually on average over long periods of time. Therefore, to achieve that type of return, you are going to have to take equity risk. That means being comfortable with 20% dips like we just saw - 10-20% dips happen almost annually. The market may also return 0% over the next 10 years - you never know - what you do know is that you have to be in the market for 20-30 years+ and then you are nearly guaranteed positive results.

The 30-yr treasury yields 2.3%, so you are still likely to lose out to inflation with something like that.


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## ftupelo (Mar 18, 2018)

_Tron_ said:


> @ftupelo, that's a friendly laugh (flipping the watch. Only you could come up with something like that.)
> 
> Cheers!


I just purchase a different Royal Oak model that I could have flipped for $20k, but that would have gotten me blacklisted with AP and I never would have received another timepiece from them. I am on the waiting list for a 41mm steel similar to the one pictured. I'd love the blue dial, but will likely have to take whatever color dial they offer. If I received the blue dial, I don't think in good conscience I could keep it - I would have to take the $75k and the blacklisting.


The cheapest available in any dial color is $68k. I don't know that I would even be able to turn down a $40k profit. 




__





Search for a wristwatch


You'll find 516,042 luxury watches on Chrono24: watches from watch brands such as Rolex, Omega, Breitling. Buy men's watches, ladies' watches, or sell a used watch.




www.chrono24.com


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## Go Uber or Go Home (Jul 13, 2016)

how old are you? do you have any retirement savings? 401k? pension? roth ira? high yield savings acc? dividends?
-start maxing out Roth IRA, YESTERDAY
-dividends is another long-term retirement little basket you can look into. just look up 'dividend calculator' and see how the compound interest stacks in 20+years. same for Roth IRA
-throw some money into stocks and crypto NOW like at least $10k - you have the funds. Buy long-term shit and dont look at it until 5years. you'll thank me later.
-start looking into buying property like a duplex, which will be like ~$20k down, you have the funds. You live in one and rent out the other and the rent basically pays the mortgage
-Someone mentioned selling cars right now is good, he isnt wrong. But you need a car to drive around and uber i assume and buying now is expensive. Maybe sell for $18k and buy a beater for ~$3-8k? boom $10-15k in your pocket to invest into stocks, crypto, a down payment.
-and yeah inflation is eating away at your cash. $100k 10years ago, isnt the same $100k now lol. "savers are losers" the quote wasn't made just for fun, theres meaning behind it

Wanna know the best part? you doing all that (and theres probably a lot more you can do, this is just the basics) will still have like $50k cash to blow on hookers and cocaine !!


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## _Tron_ (Feb 9, 2020)

ftupelo said:


> The stock market returns 10.5% annually on average over long periods of time. Therefore, to achieve that type of return, you are going to have to take equity risk. That means being comfortable with 20% dips like we just saw - 10-20% dips happen almost annually. The market may also return 0% over the next 10 years - you never know - what you do know is that you have to be in the market for 20-30 years+ and then you are nearly guaranteed positive results.
> 
> The 30-yr treasury yields 2.3%, so you are still likely to lose out to inflation with something like that.


OP, he is correct. I meant to say high yield DIVIDENDS. These are much safer than high yield returning stocks.


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## Boca Ratman (Jun 6, 2018)

I have a really good connection in Miami if you know what I mean.

Plus, since you’ll be hauling over the road there may be some future opportunities.


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## _Tron_ (Feb 9, 2020)

Go Uber or Go Home said:


> how old are you? do you have any retirement savings? 401k? pension? roth ira? high yield savings acc? dividends?
> -start maxing out Roth IRA, YESTERDAY
> -dividends is another long-term retirement little basket you can look into. just look up 'dividend calculator' and see how the compound interest stacks in 20+years. same for Roth IRA
> -throw some money into stocks and crypto NOW like at least $10k - you have the funds. Buy long-term shit and dont look at it until 5years. you'll thank me later.
> ...


Not to pick on your dude but this advice is precisely what @Ted Fink was warning the OP of. It seems you didn't even pick up that the Omar is only looking to park the money on a short time frame. Most of your advice doesn't fit his goals and risk adverse stance.


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## Omar driving (Dec 5, 2021)

Go Uber or Go Home said:


> how old are you? do you have any retirement savings? 401k? pension? roth ira? high yield savings acc? dividends?
> -start maxing out Roth IRA, YESTERDAY
> -dividends is another long-term retirement little basket you can look into. just look up 'dividend calculator' and see how the compound interest stacks in 20+years. same for Roth IRA
> -throw some money into stocks and crypto NOW like at least $10k - you have the funds. Buy long-term shit and dont look at it until 5years. you'll thank me later.
> ...


I am 37. I don't know a thing about the things you said. If I knew those termenologies I wouldnt come here. All I know is that I worked hard and spent very little. I dont know the ABC of investing. The only idea that I had in my head was gold and diamonds or some other precious physical thing that goes up in price. Suggest some precuius physical things that goes up in price.


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## Omar driving (Dec 5, 2021)

_Tron_ said:


> Not to pick on your dude but this advice is precisely what @Ted Fink was warning the OP of. It seems you didn't even pick up that the Omar is only looking to park the money on a short time frame. Most of your advice doesn't fit his goals and risk adverse stance.


Yes right. I want my money to increase or increase a little and not decrease at all coz of inflation. $88k can get a lot done now. But in 5 years if my $88k remains $88k then I am screwed. House price and truck will go up and I will still have $88k. That I dont want. Also I am not in a position to buy a house or truck now. I need to become experienced truckerer for all that. I want to turn my $88k to like $110k in 5 years with zero risk.


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## Go Uber or Go Home (Jul 13, 2016)

_Tron_ said:


> Not to pick on your dude but this advice is precisely what @Ted Fink was warning the OP of. It seems you didn't even pick up that the Omar is only looking to park the money on a short time frame. Most of your advice doesn't fit his goals and risk adverse stance.


Omar: "any advice is appreciated"

??? it seems YOU didnt even read the post🤣🤣. He literally said "maybe buying a house", thats one of my points....🤦‍♂️. He asked for financial advice on what to do with his $88k, this advice goes for anyone, no matter the age, funds or goals. These are the necessary steps to become wealthy



Omar driving said:


> I am 37. I don't know a thing about the things you said. If I knew those termenologies I wouldnt come here. All I know is that I worked hard and spent very little. I dont know the ABC of investing. The only idea that I had in my head was gold and diamonds or some other precious physical thing that goes up in price. Suggest some precuius physical things that goes up in price.


Yeah i didnt know what any of this meant a few years ago as well, but guess, what i typed it into youtube and listened and watched and learned. Crazzzzzy i know

"Suggest something precious that is physical"

ummmmm everything i said is considered physical, the rental properties, the stock market, crypto, the car. does this stuff not go up in value over time? wtf? you would say money is physical right? The only thing is the car is a depreciating item. im making you beat inflation and earn more money in the long term nevermind good luck on the trucking, dont invest into anything, no retirement plan, you are in the right direction


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## Ted Fink (Mar 19, 2018)

@ftupelo if OP is looking to avoid inflation for a short time and protect his nest egg while he sorts out his career, would he be smart to buy gold or silver? (I.E. something tells me this "might" be a good idea but I'm not educated on the gold and silver markets to know if it IS a good idea)


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## bobby747 (Dec 29, 2015)

Talk to a finance planner. Put a small amount to invest for now ...like half. And secure you other half. No risk no gain. But seek better advice than uber forum. Pay for the advice...just only invest no more than 50%


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## _Tron_ (Feb 9, 2020)

Omar driving said:


> I want to turn my $88k to like $110k in 5 years with zero risk.


Understood, but I think you already know that is not in the realm of reasonable possibilities. :>

I'm afraid you are stuck with a high yielding savings account of some type (many banks offer Treasury securities you can buy in to.

Take a look at this interest calculator. It gets you in the ballpark of your goal. Certain assumptions must be made about interest rate and rate of inflation.


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## Johnny Mnemonic (Sep 24, 2019)

Omar driving said:


> I've managed to save $70,000 over the years. I have no debt and hold the title for my van. Dealer is willing to buy my van for $18,000. I'll have $88,000 at hand if I sell my van. What should/could I do with all this cash? It has been resting in a checking account not even a savings account. I will be OTR trucking in April. I plan to leave Cali for Nevada. Should I keep adding more into it and save for a house or should I invest it in something? I don't know the ABC of investing. I am sure inflation is eating my money.
> Any advice is appreciated. I am not a big risk taker also. I am also thinking of buying my own truck before I buy a house.


Start by maxing out a Roth IRA and your 401K if you have one.

After that start dollar cost averaging 15% of your income into index funds.

Put the rest into a high yield checking account like Marcus by Goldman Sachs to use later as a down payment for a house.

Start watching Dave Ramsey on YouTube or listening while you are driving. He has great financial advice for working-class people.


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## Omar driving (Dec 5, 2021)

My van is 2015 and has over 150k miles. Shocks are dying. It needs breaks, tires and some body work. It has had 3 accidents. Not selling it is a bad idea. Because I am not spending a dime to fix it. It is a Honda so it is selling. $18k is a great price. But I will try my best to sell it for $20k. That'll be amazing. It is not even worth $10k to be honest.


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## Go Uber or Go Home (Jul 13, 2016)

Johnny Mnemonic said:


> Start by maxing out a Roth IRA and your 401K if you have one.
> 
> After that start dollar cost averaging 15% of your income into index funds.
> 
> ...


i said this and got shot down bro... apparently OP doesnt care about the mumbo jumbo investing. he cares about... diamonds.


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## _Tron_ (Feb 9, 2020)

Here's another option if you would be willing to go HIGH RISK on just a _portion_ of your funds. This idea is based strictly upon my personal view as an investor for my own accounts. I study this stuff daily, but of course *I could easily be wrong*. And, there will be severe pushback in this forum on what I'm about to say. Consider it just food for thought.

The world is at a crossroads to where what has been working in the past likely won't work in the future. In my view the future is likely in crypto. So....

Lock up 78K in a high yield savings account. Take 10K of you funds and spend 50% buying Bitcoin and 50% buying Ethereum. Lock up the crypto in an offline wallet and completely forget the investment for 5 years. You want to appreciate your 88K to 110K. That's $22,000 profit you are seeking. I am counting on both Bitcoin and Ethereum easily quadrupling over 5 years. So that would take the 10K and turn it into 40K. About double your goal. 

You could take that risk for a higher return, or you could cut the investment in half to 5K and shoot for just about reaching your 110K goal.

Again, just my opinion as a gambit to reach that goal of yours.


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## _Tron_ (Feb 9, 2020)

By the way, one of the reasons I keep replying is that your topic is that it is a very timely one because of the current inflation rate. Inflation has been eating away at savings for years, but it has been a _frog in slowly heating water_ scenario. But now people are waking up to the loss of their purchasing power.

Back in the 70s when this happened some of my acquaintances turned to The Capital Preservation Fund, which was a low to medium risk fund designed just to keep pace with inflation. I just checked for you and that fund may not exist now. But it's likely someone will come up with an equivalent. Check with an investment advisor. Check with two. Or three. You are contemplating your financial future. Invest some _time_ up front.

Good luck!


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## Omar driving (Dec 5, 2021)

$50k could get me more gas 3 years ago than now. Same with food, clothing and stuff compared to now. I have already lost money. In 5 years my money will become 2/3 of what it is now. I paid a price for being uneducated.


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## _Tron_ (Feb 9, 2020)

It's not too late!! Ignorance can be cured. Stupidity lasts a lifetime.


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## Omar driving (Dec 5, 2021)

I will drive truck till I am 60. I have 23 years. I will save and invest $1500 every month and then retire. I will have a house and one million dollars. I can live on that comfortably. I dont want too much money. I dont need a lot of money to be happy.


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## _Tron_ (Feb 9, 2020)

By the way, I agree with johnny and go uber or go home on one point. Open a ROTH IRA and fund it to the max. Here's why. There is no capital gains tax on what you earn on the money. So even if you invest in safe Treasuries in the ROTH IRA the interest earned is NOT TAXABLE. Gotta love that.

You can invest in everything from Treasuries to crypto in a ROTH IRA. It's just that you are limited to $7K a year of contributions. But keep in mind you can still contribute for the year 2021 until the tax filing deadline.


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## ftupelo (Mar 18, 2018)

Ted Fink said:


> @ftupelo if OP is looking to avoid inflation for a short time and protect his nest egg while he sorts out his career, would he be smart to buy gold or silver? (I.E. something tells me this "might" be a good idea but I'm not educated on the gold and silver markets to know if it IS a good idea)


Gold hasn't performed all that well recently with inflation running hot. As inflation comes down - it will, the Fed will make sure of it - Gold should do even worse. Additionally, if you go to buy gold coins, the dealer will probably charge you 10% above the price of gold. Then, when you go to sell it back to them, they are going to under-pay you by 10%. You are already in the hole by 20%

Inflation isn't great for savers, but it will revert to normal levels. This isn't a knock on you as I'm sure you would admit it yourself, but you are so financially unsophisticated, the best thing you can do is probably just hold cash and eat some inflation. Maybe you lose 10% to inflation over the next 2 years - you could lose 10% in a hot second making stupid investing decisions that you know nothing about.


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## oldfart (Dec 22, 2017)

Given your time horizon (1 year) Id leave the money right where it is. 

I also got ppp loans and an eidl loan and unemployment. I had $65000. cash sitting in the bank. And like you, I was looking for an investment. 

I bought Bitcoin and Etherium. this past September and have added more money since. (All borrowed)... Total invested is $105000.all opm (other peoples money) Since then my account has been as high as 125000 and down to $75000. Today my account got back to $95000... So Im down about 10%.. If your time horizon and risk tolerance is the same as mine, (unlimited) Id say do as I did. Since its not.,,,, dont.


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## The Entomologist (Sep 23, 2018)

Omar driving said:


> I've managed to save $70,000 over the years. I have no debt and hold the title for my van. Dealer is willing to buy my van for $18,000. I'll have $88,000 at hand if I sell my van. What should/could I do with all this cash? It has been resting in a checking account not even a savings account. I will be OTR trucking in April. I plan to leave Cali for Nevada. Should I keep adding more into it and save for a house or should I invest it in something? I don't know the ABC of investing. I am sure inflation is eating my money.
> Any advice is appreciated. I am not a big risk taker also. I am also thinking of buying my own truck before I buy a house.


There are multiple ways by which you can invest and make good money, stocks are the biggest chance at making a ton but there is a risk... a hedge fund you can trust? or if you want easy money, buy and flip a house but it will take time, your fastest road to income is crypto currency or running a business, like become an amazon seller or buy a truck and get trucking, I recommend you get your haz mat in trucking and get jobs that pay 100k a year, use the money to support you until you get it (consider it an investment), you can also start a logistics company with a truck or 2, I recommend Amazon but it will be expensive and if you dont know how to game the system like in Uber, you are not gonna see the big bucks but if you do, I make close to half a million a year with 5 trucks, that is... net not gross.

Another opportunity is crypto and trading bots, you sink like 10-20 grand and within a month you get 1-2 grand after bot trade profits (buy low-sell high automatic), you have to be careful with this cause you can lose everything or most of it.


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## Omar driving (Dec 5, 2021)

oldfart said:


> Given your time horizon (1 year) Id leave the money right where it is.
> 
> I also got ppp loans and an eidl loan and unemployment. I had $65000. cash sitting in the bank. And like you, I was looking for an investment.
> 
> I bought Bitcoin and Etherium. this past September and have added more money since. (All borrowed)... Total invested is $105000.all opm (other peoples money) Since then my account has been as high as 125000 and down to $75000. Today my account got back to $95000... So Im down about 10%.. If your time horizon and risk tolerance is the same as mine, (unlimited) Id say do as I did. Since its not.,,,, dont.


I think I'll give it another year. At saving rate of $1500 a month I will add $15k to it anyways. I am selling my van. I dont need a car. I'll move my stuff to uncle's place and get busy with otr trucking. When I land a job with my 2nd company my pay will go up 50%. That'll be the time to look for a house in Nevada.


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## Guido-TheKillerPimp (Jan 4, 2021)

Omar driving said:


> I've managed to save $70,000 over the years. I have no debt and hold the title for my van. Dealer is willing to buy my van for $18,000. I'll have $88,000 at hand if I sell my van. What should/could I do with all this cash? It has been resting in a checking account not even a savings account. I will be OTR trucking in April. I plan to leave Cali for Nevada. Should I keep adding more into it and save for a house or should I invest it in something? I don't know the ABC of investing. I am sure inflation is eating my money.
> Any advice is appreciated. I am not a big risk taker also. I am also thinking of buying my own truck before I buy a house.


Let Guido handle the diversification of your funds. My fees can be discussed later!


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## ftupelo (Mar 18, 2018)

Omar driving said:


> I think I'll give it another year. At saving rate of $1500 a month I will add $15k to it anyways. I am selling my van. I dont need a car. I'll move my stuff to uncle's place and get busy with otr trucking. When I land a job with my 2nd company my pay will go up 50%. That'll be the time to look for a house in Nevada.


Don't worry about inflation. Keep saving, don't do anything stupid, and you will be fine. Just by doing what you are doing, you have more than 99% of the folx here. 

You should be proud of the $88k that you have been able to save (even if that is what folx like Frankie De La Creme keep in their throw-away Paypal crypto account that is too small to be worth the time to check but once every few months).


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## Omar driving (Dec 5, 2021)

ftupelo said:


> Don't worry about inflation. Keep saving, don't do anything stupid, and you will be fine. Just by doing what you are doing, you have more than 99% of the folx here.
> 
> You should be proud of the $88k that you have been able to save (even if that is what folx like Frankie De La Creme keep in their throw-away Paypal crypto account that is too small to be worth the time to check but once every few months).


Thanks but 30% of that money was a gift from the government. Saving $50k since 2015 is not much imho.


----------



## Omar driving (Dec 5, 2021)

Guido-TheKillerPimp said:


> Let Guido handle the diversification of your funds. My fees can be discussed later!


Haha. Seriously financial advisors dont have time for my chump change. And I cant afford a fee of more than 500 bucks. That's 5 times my accountant's fee


----------



## colamacy (Oct 25, 2021)

ftupelo said:


> Gold hasn't performed all that well recently with inflation running hot. As inflation comes down - it will, the Fed will make sure of it - Gold should do even worse. Additionally, if you go to buy gold coins, the dealer will probably charge you 10% above the price of gold. Then, when you go to sell it back to them, they are going to under-pay you by 10%. You are already in the hole by 20%
> 
> Inflation isn't great for savers, but it will revert to normal levels. This isn't a knock on you as I'm sure you would admit it yourself, but you are so financially unsophisticated, the best thing you can do is probably just hold cash and eat some inflation. Maybe you lose 10% to inflation over the next 2 years - you could lose 10% in a hot second making stupid investing decisions that you know nothing about.


You mean to say one of the most liquid asset known to mankind (gold) a person will lose about 20% just from buying and then selling said gold? That "may" be true if someone put a gun to my head, forcing me to sell my gold only to professional dealers with their markups. Again, one of the most liquid asset and you pigeon hole a gold investor in only selling to dealers. LMAO!!!


----------



## Guido-TheKillerPimp (Jan 4, 2021)

Omar driving said:


> 500 bucks


I'll take it. Venmo me the cash, then I'll tell you how to invest your savings. See, Guido just wants to help, everyone. 😎


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## FL_Steve (Dec 17, 2021)

20% Gold
20% Silver
20% Crypto (BTC, ETH, No shitcoins)
20% Short life insurance company stocks
20% Long mortuary stocks

The last two are a play on those "safe and effective" experimental Covid "vaccines" the sheeple masses were cajoled into getting injected into their sorry selves.


----------



## ftupelo (Mar 18, 2018)

colamacy said:


> You mean to say one of the most liquid asset known to mankind (gold) a person will lose about 20% just from buying and then selling said gold? That "may" be true if someone put a gun to my head, forcing me to sell my gold only to professional dealers with their markups. Again, one of the most liquid asset and you pigeon hole a gold investor in only selling to dealers. LMAO!!!


I have no idea what the economics are, but a novice like this ant sure won’t be getting the type of deal you are suggesting. Let us know what the markup and haircut are if one were to go to the local coin shop.

This piece, aimed at non-sophisticated retail buyers recommends not paying more than an 8% markup. My 10% on each side of the trade is certainty in the realm of possible.









7 Ways Not to Buy Gold | Kiplinger


Avoid these rip-offs when buying gold coins or bars.



www.kiplinger.com


----------



## BrainDead Driver (Dec 15, 2021)

I am far form a expert in investments . I am far of a expert in stocks futures forex .
But i have been trading as a hobby from 1996 I can tell you . I would not invest a penny in anything right now .
I seeing down trending on everything except oil. Wait until you see this ticker drop to 1200 to 1500 range . With war looming Also a interest rate hike coming very soon to stop inflation . There will be two interest rates hikes for sure . There might be three . The market will react in devisation . Its over bought . Prices of stock do not justify sales of any company . Why not buy yourself a semi truck ? Go make a steady living .
snp 500 chart - Google Search 
Were over due for a market shift . It has to breath sooner or later . Do not buy other peoples profit .


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## colamacy (Oct 25, 2021)

ftupelo said:


> I have no idea what the economics are, but a novice like this ant sure won’t be getting the type of deal you are suggesting. Let us know what the markup and haircut are if one were to go to the local coin shop.
> 
> This piece, aimed at non-sophisticated retail buyers recommends not paying more than an 8% markup. My 10% on each side of the trade is certainty in the realm of possible.
> 
> ...


You mean to say the OP is too dumb to figure out in getting a fair trade when in most likelihood he'll find himself in an advantageous situation where fiat currency will painfully drop in value, a good portion of the population will be highly motivated to deal in gold, silver, tangible goods, and even in crypto? He should be offended. You'd be very surprised what necessitates can do to a person. 

And who plans on paying for their haircut in gold? I suppose the guy who's ignorant in the purpose of owning gold in tumultuous financial times would.

Again, when you're holding one of the most liquid, widely accepted form of asset, I assure you, professional dealers aren't the only ones you'll be able to trade with. LMAO!


----------



## Omar driving (Dec 5, 2021)

colamacy said:


> You mean to say the OP is too dumb to figure out in getting a fair trade when in most likelihood he'll find himself in an advantageous situation where fiat currency will painfully drop in value, a good portion of the population will be highly motivated to deal in gold, silver, tangible goods, and even in crypto? He should be offended. You'd be very surprised what necessitates can do to a person.
> 
> And who plans on paying for their haircut in gold? I suppose the guy who's ignorant in the purpose of owning gold in tumultuous financial times would.
> 
> Again, when you're holding one of the most liquid, widely accepted form of asset, I assure you, professional dealers aren't the only ones you'll be able to trade with. LMAO!


I drove Uber for 7 years I don't get offended so easily haha


----------



## Illini (Mar 14, 2019)

Don't listen to any of this advice. You haven't provided us enough information about yourself. I have a LOT more saved than you do, but what worked for me won't necessarily work for you without a lot more information. As of others have suggested, talk to an advisor who will get to know you and your goals. You'll have a much better chance of investing success. Good luck!


----------



## colamacy (Oct 25, 2021)

Illini said:


> Don't listen to any of this advice. You haven't provided us enough information about yourself. I have a LOT more saved than you do, but what worked for me won't necessarily work for you without a lot more information. As of others have suggested, talk to an advisor who will get to know you and your goals. You'll have a much better chance of investing success. Good luck!


Would that include your advice?


----------



## Omar driving (Dec 5, 2021)

Illini said:


> Don't listen to any of this advice. You haven't provided us enough information about yourself. I have a LOT more saved than you do, but what worked for me won't necessarily work for you without a lot more information. As of others have suggested, talk to an advisor who will get to know you and your goals. You'll have a much better chance of investing success. Good luck!


I did shitty jobs all my life. Uber is my best paying job ever. I dont have degree and skills. Now I am too old to learn any skills. Driving is all I can and I enjoy it. I will drive a truck very soon. I think thats enough information about me.


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## Illini (Mar 14, 2019)

colamacy said:


> Would that include your advice?


If it were financial related, yes, but it's not.


----------



## colamacy (Oct 25, 2021)

Illini said:


> If it were financial related, yes, but it's not.


I know. Just messing with you.


----------



## Wildgoose (Feb 11, 2019)

Omar driving said:


> I've managed to save $70,000 over the years. I have no debt and hold the title for my van. Dealer is willing to buy my van for $18,000. I'll have $88,000 at hand if I sell my van. What should/could I do with all this cash? It has been resting in a checking account not even a savings account. I will be OTR trucking in April. I plan to leave Cali for Nevada. Should I keep adding more into it and save for a house or should I invest it in something? I don't know the ABC of investing. I am sure inflation is eating my money.
> Any advice is appreciated. I am not a big risk taker also. I am also thinking of buying my own truck before I buy a house.


Purchase a house or townhome near by a university or college in any state.
Rent students your rooms.


----------



## Guido-TheKillerPimp (Jan 4, 2021)

FL_Steve said:


> the sheeple masses were cajoled into getting injected into their sorry selves.


HAHA just wait


colamacy said:


> who plans on paying for their haircut in gold?


Not me. I'm a DIY barber. $7 trimmer off Amazon. #1 setting all around. Perfect. Also great for the short & curlies 😂


----------



## SOLA-RAH (Dec 31, 2014)

Omar driving said:


> I've managed to save $70,000 over the years. I have no debt and hold the title for my van. Dealer is willing to buy my van for $18,000. I'll have $88,000 at hand if I sell my van. What should/could I do with all this cash? It has been resting in a checking account not even a savings account. I will be OTR trucking in April. I plan to leave Cali for Nevada. Should I keep adding more into it and save for a house or should I invest it in something? I don't know the ABC of investing. I am sure inflation is eating my money.
> Any advice is appreciated. I am not a big risk taker also. I am also thinking of buying my own truck before I buy a house.


Nice job on the cash pile…simply saving is the hardest part. First, figure out your bare-bones expenses and then put enough cash in a savings account to cover six months worth of expenses as if you had zero income. This is your emergency fund. It doesn’t matter if the return is only 0.1%, these funds have to be safe. If poop-hits-the-fan, your emergency fund will give you time to find another job or another source of income without losing everything you’ve worked so hard for.

Then with the remainder buy nothing but 100% VTI in a brokerage account at Vanguard, Fidelity, or the like. VTI replicates the entire US stock market (Vanguard ETF Profile | Vanguard). Trust in America, take what the market gives you, and you’ll do fine. Buy more VTI with the quarterly dividends it produces, and buy even more VTI with any spare cash that you can come up with after your expenses are covered. Never sell your VTI stack unless you absolutely need the money.

In your spare time, browse financial topics that interest you here: www.bogleheads.org

I’m in my 30s, just like you. No one here can show you results like these, they can only prattle and speculate. Please heed my advice, because this is the way.


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## The Entomologist (Sep 23, 2018)

Or or or or!

You can buy... are you ready?










































UBER STOCK.


----------



## ftupelo (Mar 18, 2018)

colamacy said:


> You mean to say the OP is too dumb to figure out in getting a fair trade when in most likelihood he'll find himself in an advantageous situation where fiat currency will painfully drop in value, a good portion of the population will be highly motivated to deal in gold, silver, tangible goods, and even in crypto? He should be offended. You'd be very surprised what necessitates can do to a person.
> 
> And who plans on paying for their haircut in gold? I suppose the guy who's ignorant in the purpose of owning gold in tumultuous financial times would.
> 
> Again, when you're holding one of the most liquid, widely accepted form of asset, I assure you, professional dealers aren't the only ones you'll be able to trade with. LMAO!


I didn’t say any of that. I called him a novice, which he admittedly is. The most likely route to him acquiring gold is through the local coin dealer - if that is not the most likely route, then enlighten us as to what is. Then you somehow suggest he will get an advantageous deal because everyone will be clamoring to buy gold - that logic makes zero sense.

I never said he would use gold as currency. I simply noted the truth about the transaction costs to be expected on both sides of the transaction.

He is free to invest in gold. I simply pointed out the he would 20% behind the eight ball before you make a penny - that is 10x better advice than anything you’ve told him.


----------



## Smitty in CT (Jun 18, 2016)

Get a stock market tracking APP and find Nancy Pelosi's husband and buy what he buys and sell when he sells....


----------



## SOLA-RAH (Dec 31, 2014)

Smitty in CT said:


> Get a stock market tracking APP and find Nancy Pelosi's husband and buy what he buys and sell when he sells....







__





Office of the Clerk, U.S. House of Representatives






disclosures-clerk.house.gov




Search for ‘PTR Originals’


----------



## 0ddj0b (Oct 12, 2021)

Buy the dip.
Or as others have said if you are risk averse then property is not the worst choice.
But everything is conditional, depending on your market, property may be overvalued. 
But regardless of what you choose to do, and due to your self admitted ignorance, I would highly recommend you seek professional advice when you do choose to go down whatever route you choose. (Real estate, stocks, etc)
And as mentioned already, you are better off selling on the private market as opposed to a dealer.
Best of luck to you!


----------



## Irishjohn831 (Aug 11, 2017)

I would buy stocks like Apple and con Ed, they may not move much either way for the interim, but they both pay decent dividends that have steady increases.


----------



## Irishjohn831 (Aug 11, 2017)

I just posted something similar, other considerations are dividend stocks that are consistent and increase over time 



ftupelo said:


> The stock market returns 10.5% annually on average over long periods of time. Therefore, to achieve that type of return, you are going to have to take equity risk. That means being comfortable with 20% dips like we just saw - 10-20% dips happen almost annually. The market may also return 0% over the next 10 years - you never know - what you do know is that you have to be in the market for 20-30 years+ and then you are nearly guaranteed positive results.
> 
> The 30-yr treasury yields 2.3%, so you are still likely to lose out to inflation with something like that.


----------



## ftupelo (Mar 18, 2018)

Irishjohn831 said:


> I just posted something similar, other considerations are dividend stocks that are consistent and increase over time


It’s good advice, but I fear those with zero experience with stocks and zero understanding of what they are, are the most likely to get spooked and lose money. What if Brosef bought Jan. 4th this year and 3 weeks later sees his “safe” stocks down 15%? He sells. Now he just lost 15%, swears off stocks the rest of his life and still loses to inflation.


----------



## Go Uber or Go Home (Jul 13, 2016)

ftupelo said:


> It’s good advice, but I fear those with zero experience with stocks and zero understanding of what they are, are the most likely to get spooked and lose money. What if Brosef bought Jan. 4th this year and 3 weeks later sees his “safe” stocks down 15%? He sells. Now he just lost 15%, swears off stocks the rest of his life and still loses to inflation.


scared money dont make money


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## ftupelo (Mar 18, 2018)

Go Uber or Go Home said:


> scared money dont make money


Scared mine can also lose a lot of money.


----------



## goneubering (Aug 17, 2017)

Omar driving said:


> I've managed to save $70,000 over the years. I have no debt and hold the title for my van. Dealer is willing to buy my van for $18,000. I'll have $88,000 at hand if I sell my van. What should/could I do with all this cash? It has been resting in a checking account not even a savings account. I will be OTR trucking in April. I plan to leave Cali for Nevada. Should I keep adding more into it and save for a house or should I invest it in something? I don't know the ABC of investing. I am sure inflation is eating my money.
> Any advice is appreciated. I am not a big risk taker also. I am also thinking of buying my own truck before I buy a house.


You’re asking Uber drivers????


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## Christinebitg (Jun 29, 2018)

Omar driving said:


> What should/could I do with all this cash? It has been resting in a checking account not even a savings account.


Time for me to talk about this topic. You've heard from lots of people here, now you get to hear from me.

First, figure out what your living expenses are per month. Do a budget and include everything (!) that you spend.

At the same time, move most of your cash into an internet bank account in an FDIC insured bank. I've already seen Marcus mentioned, and that's also the one that I use.

When you know what your average monthly expenses are, you'll know how much you should keep in your savings account. Usually that's going to be a *minimum* of three months of expenses. If your expenses vary a lot, keep six months or more of expenses in your savings account.

Yes, I know about inflation. Sorry about that. But you really need to keep some money in savings. That means no risk (except for inflation).

AFTER you have three months of expenses stashed away in your savings account (for emergencies only!) look at putting some money into the stock market. I recommend VOO, which is an S&P 500 index fund operated by Vanguard. It pays dividends once every three months.

Also you can look at individual stocks, particularly those with many years of increasing dividends. They are sometimes called Dividend Growth stocks. They pay dividends quarterly, and increase their dividend *every* year, once a year. These are companies that everyone has heard of, like PepsiCo, and Johnson & Johnson, and Procter & Gamble.

After that, you can get back to me. That will take you a few years, and you'll probably be ready to fly on your own by then. 

(Added later)
Yes, there is some risk that stocks may go down. But with good stock selection, they will also go back up after that. They *always* do. Those Dividend Growth stocks go down *less* than the rest of the market, because of their long history of increasing dividends. And they don't cut their dividends. Those just keep going up. So you get to keep collecting the dividends.

When the stock prices are down, that's when you should be buying more. It's what an opportunity looks like, and it only happens every few years. The last really good opportunity happened in late 2008 and early 2009. Although there was a little blip of stuff being on sale about two years ago.


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## Omar driving (Dec 5, 2021)

goneubering said:


> You’re asking Uber drivers????


Why uber drivers cant be knowledgable?


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## ftupelo (Mar 18, 2018)

Omar driving said:


> Why uber drivers cant be knowledgable?


Some here are extremely sophisticated with god-tier gigabrains. I personally work in high finance for a white-shoe firm (think VC/PE/Hedge Fund). At least two of the regular contributors on the Dallas board are lawyers and graduates from Tier 1 law schools. Some of us have multiple degrees (two graduate) from the finest of Universities.


----------



## goneubering (Aug 17, 2017)

Omar driving said:


> Why uber drivers cant be knowledgable?


If you’re astute enough to ignore the trolls.


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## ftupelo (Mar 18, 2018)

goneubering said:


> If you’re astute enough to ignore the trolls.


Agreed, which is why you should only listen to the most credentialed amongst us.


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## goneubering (Aug 17, 2017)

ftupelo said:


> Agreed, which is why you should only listen to the most credentialed amongst us.


Yeah. Credentialed.


----------



## ftupelo (Mar 18, 2018)

goneubering said:


> Yeah. Credentialed.


Right, those with Bachelor's degrees, MBA's, JD's (and all from the finest institutions of higher learning), Members of a State Bar, those published in scientific journals, Chartered Financial Analysts, etc. There may even be folx here who check every single one of those boxes


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## goneubering (Aug 17, 2017)

ftupelo said:


> Right, those with Bachelor's degrees, MBA's, JD's (and all from the finest institutions of higher learning), Members of a State Bar, those published in scientific journals, Chartered Financial Analysts, etc. There may even be folx here who check every single one of those boxes


And drive Uber. Too funny.


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## ftupelo (Mar 18, 2018)

goneubering said:


> And drive Uber. Too funny.


Yes. My guess is these folx or this indiviual who checks all of those boxes drives UBER part-time as a way to stay humble and grounded. Maybe they started driving UBER when they were a starving student before they became a multi-millionaire and continue to drive for reasons other than needing the money. This type of person may live in one of the most exclusive enclaves in the entire country, but grew up solidly middle class and does not want to become a product of their new ritzy environment. This person likely sees Ubering as a way to stay connected to their working-class roots. All a big guess though.


----------



## goneubering (Aug 17, 2017)

ftupelo said:


> Yes. My guess is these folx or this indiviual who checks all of those boxes drives UBER part-time as a way to stay humble and grounded. Maybe they started driving UBER when they were a starving student before they became a multi-millionaire and continue to drive for reasons other than needing the money. This type of person may live in one of the most exclusive enclaves in the entire country, but grew up solidly middle class and does not want to become a product of their new ritzy environment. This person likely sees Ubering as a way to stay connected to their working-class roots. All a big guess though.


Comedian too.


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## ftupelo (Mar 18, 2018)

goneubering said:


> Comedian too.


Are you suggesting I'm a comedian or this highly educated ant we are discussing? Because obviously, we aren't the same person.  Frankie De La Creme wouldn't write about Frankie Brass in the third person like that - The DLC is too humble and grounded.


----------



## NauticalWheeler (Jun 15, 2019)

@ftupelo , please tell OP what to do with the 70k sitting in a checking account...

Nvm, I was days late to this party.


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## ftupelo (Mar 18, 2018)

NauticalWheeler said:


> @ftupelo , please tell OP what to do with the 70k sitting in a checking account...
> 
> Nvm, I was days late to this party.





ftupelo said:


> Yes. My guess is these folx or this indiviual who checks all of those boxes drives UBER part-time as a way to stay humble and grounded. Maybe they started driving UBER when they were a starving student before they became a multi-millionaire and continue to drive for reasons other than needing the money. This type of person may live in one of the most exclusive enclaves in the entire country, but grew up solidly middle class and does not want to become a product of their new ritzy environment. This person likely sees Ubering as a way to stay connected to their working-class roots. All a big guess though.





ftupelo said:


> Right, those with Bachelor's degrees, MBA's, JD's (and all from the finest institutions of higher learning), Members of a State Bar, those published in scientific journals, Chartered Financial Analysts, etc. There may even be folx here who check every single one of those boxes





ftupelo said:


> Some here are extremely sophisticated with god-tier gigabrains. I personally work in high finance for a white-shoe firm (think VC/PE/Hedge Fund). At least two of the regular contributors on the Dallas board are lawyers and graduates from Tier 1 law schools. Some of us have multiple degrees (two graduate) from the finest of Universities.


I already gave my opinion. You should tag this other individual we have been referring to. Sounds like this other person's opinion would be highly valued.


----------



## goneubering (Aug 17, 2017)

ftupelo said:


> Are you suggesting I'm a comedian or this highly educated ant we are discussing? Because obviously, we aren't the same person.  Frankie De La Creme wouldn't write about Frankie Brass in the third person like that - The DLC is too humble and grounded.


Very funny. I have no idea how many socks you currently maintain.


----------



## Ted Fink (Mar 19, 2018)

goneubering said:


> Very funny. I have no idea how many socks you currently maintain.


He's wealthy... his communications director, um I mean laundry maid, maintains his socks. J/K @ftupelo


----------



## 25rides7daysaweek (Nov 20, 2017)

Go Uber or Go Home said:


> how old are you? do you have any retirement savings? 401k? pension? roth ira? high yield savings acc? dividends?
> -start maxing out Roth IRA, YESTERDAY
> -dividends is another long-term retirement little basket you can look into. just look up 'dividend calculator' and see how the compound interest stacks in 20+years. same for Roth IRA
> -throw some money into stocks and crypto NOW like at least $10k - you have the funds. Buy long-term shit and dont look at it until 5years. you'll thank me later.
> ...


Who has 50k? Is there gonna be a party?
I know I wont be invited so can someone who is please PM me the address so I can crash it?
I love you guys unfortunately most of you 
love me about as much as my wife does 😢


----------



## Go Uber or Go Home (Jul 13, 2016)

25rides7daysaweek said:


> Who has 50k? Is there gonna be a party?
> I know I wont be invited so can someone who is please PM me the address so I can crash it?
> I love you guys unfortunately most of you
> love me about as much as my wife does 😢


the OP said he will have $88k. Did you read the original post, you old sack of potatoes !!


----------



## 25rides7daysaweek (Nov 20, 2017)

Go Uber or Go Home said:


> the OP said he will have $88k. Did you read the original post, you old sack of potatoes !!


Maybe my eyes are going
I just thought someone had $50k
and there was gonna be party 
with coke and hookers
I didnt wanna miss the boat 
AGAIN!!!


----------



## ftupelo (Mar 18, 2018)

Ted Fink said:


> He's wealthy... his communications director, um I mean laundry maid, maintains his socks. J/K @ftupelo


Wealthy to very wealthy.


----------



## Ted Fink (Mar 19, 2018)

ftupelo said:


> Wealthy to very wealthy.


Ah good to see you Mr. DLC

I think you'll agree with me when I say (again) that persons seeking financial advice should seek out those who are well versed in these matters. The average uber driver IS broke. And you can't get rich taking advice from broke people!


----------



## ftupelo (Mar 18, 2018)

Ted Fink said:


> Ah good to see you Mr. DLC
> 
> I think you'll agree with me when I say (again) that persons seeking financial advice should seek out those who are well versed in these matters. The average uber driver IS broke. And you can't get rich taking advice from broke people!


Hear, hear!


----------



## Christinebitg (Jun 29, 2018)

Ted Fink said:


> And you can't get rich taking advice from broke people


I suppose it depends on what advice they give you. Sometimes people say the right things, even if they don't take their own advice. LOL


----------



## Diamondraider (Mar 13, 2017)

Omar driving said:


> I've managed to save $70,000 over the years. I have no debt and hold the title for my van. Dealer is willing to buy my van for $18,000. I'll have $88,000 at hand if I sell my van. What should/could I do with all this cash? It has been resting in a checking account not even a savings account. I will be OTR trucking in April. I plan to leave Cali for Nevada. Should I keep adding more into it and save for a house or should I invest it in something? I don't know the ABC of investing. I am sure inflation is eating my money.
> Any advice is appreciated. I am not a big risk taker also. I am also thinking of buying my own truck before I buy a house.


Step one is to put the maximum annual allowed into a ROTH account. Do this every year. 
In the ROTH account, put you money in index funds and dividend paying blue chip stocks until you feel more confident.


----------



## Omar driving (Dec 5, 2021)

Elon Musk says buy physical things.






Log in or sign up to view


See posts, photos and more on Facebook.




lm.facebook.com


----------



## Darrell Green Fan (Feb 9, 2016)

I know a bit about investing and to be honest there is no good place right now without exotics such as bitcoin etc and you don't know anything about that stuff. I'm,a big believer in the stock market but after a 12 year run, which is very unusual, we are seeing the natural pull back. And it may not be over,probably isn't. If this was long term money such as an IRA (20 years out) I would absolutely put it in a total stock market index fund. But it sounds like that's not your timeline and any short term money may lose value. Bonds or a bond mutual fund are usually a good hedge against stocks but the bond market has in inverse relationship with interest rates. They have done well because interest rates were at historic lows, that's no longer the case. As interest rates rise bond values drop. 

I'd look at parking it in a money market account, which pays a bit more than a bank account. You can find them online, I have one from 
TIAA Bank. Or a Certificate of Deposit (CD). Basically you get a 3 year CD and you can't touch the money without penalty for 3 years, but they pay more than a normal checking or savings account. You can get shorter terms but they don't pay jack.


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## SOLA-RAH (Dec 31, 2014)

Darrell Green Fan said:


> I know a bit about investing and to be honest there is no good place right now without exotics such as bitcoin etc and you don't know anything about that stuff. I'm,a big believer in the stock market but after a 12 year run, which is very unusual, we are seeing the natural pull back. And it may not be over,probably isn't. If this was long term money such as an IRA (20 years out) I would absolutely put it in a total stock market index fund. But it sounds like that's not your timeline and any short term money may lose value. Bonds or a bond mutual fund are usually a good hedge against stocks but the bond market has in inverse relationship with interest rates. They have done well because interest rates were at historic lows, that's no longer the case. As interest rates rise bond values drop.
> 
> I'd look at parking it in a money market account, which pays a bit more than a bank account. You can find them online, I have one from
> TIAA Bank. Or a Certificate of Deposit (CD). Basically you get a 3 year CD and you can't touch the money without penalty for 3 years, but they pay more than a normal checking or savings account. You can get shorter terms but they don't pay jack.


You can’t time the market and nobody knows nothing. Pay your bills, have a little fun, and then invest whatever’s left as soon as the cash is available.


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## Christinebitg (Jun 29, 2018)

Darrell Green Fan said:


> I'd look at parking it in a money market account, which pays a bit more than a bank account. You can find them online, I have one from
> TIAA Bank.


The place where I'm parking funds right now is in on-line bank accounts. I have one at Goldman Sachs Bank (aka "Marcus") and recently started one at Ally Bank.

Last I checked, they were paying 0.5% interest. It's not great, but it's better than nothing. Plus they're FDIC insured.

Like you, I don't want to put any new money into the stock market right now. This bull market has had a very long run. We'll know more probably late tomorrow, if the Fed is going to make an announcement about interest rates.


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## Darrell Green Fan (Feb 9, 2016)

SOLA-RAH said:


> You can’t time the market and nobody knows nothing. Pay your bills, have a little fun, and then invest whatever’s left as soon as the cash is available.


Agree. When people try to time the market the masses lose their asses. That's why I'm a buyer and holder and have been for a long time. But it sounds like this poster already has cash available, not sure I would suggest having a little fun with it, he/she is looking to invest this money. And I agree with you an online money market account from Allly or a money market account will pay more than a bank and probably the play now as the investment world settles down after the rate hike yesterday. For a new investor the stock and bond market are so volatile I doubt a new investor would have the stomach for a big drop in his balance. But long term there is absolutely nothing that can beat investing in stocks.

Here's a good example of what $100 looks like if it's invested in multiple ways, the S&P 500 (stocks) are the far better long term investment. Look closely at what happened to $100 after the big crash from 1929-1932 where $100 had dropped to $50.66. In a few years the value was already $110.18, then it went up dramatically from there.



http://pages.stern.nyu.edu/~adamodar/New_Home_Page/datafile/histretSP.html


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## ervfree (9 mo ago)

You can invest in jewelry. Man began to decorate himself from the most ancient times. At first it was animal bones, beautiful stones, fragments of tree branches. Then they began to process them, giving a certain shape. Over time, they also began to be used as ritual objects. Thus, jewelry and wearing them are not a sin, because even in the Old Testament times the priests' clothes were decorated with precious stones. You can perfect chain selection using special sites. Try this. I'm sure you'll find what you need.


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## ftupelo (Mar 18, 2018)

ervfree said:


> You can invest in jewelry. Man began to decorate himself from the most ancient times. At first it was animal bones, beautiful stones, fragments of tree branches. Then they began to process them, giving a certain shape. Over time, they also began to be used as ritual objects. Thus, jewelry and wearing them are not a sin, because even in the Old Testament times the priests' clothes were decorated with precious stones. You can perfect chain selection using special sites. Try this. I'm sure you'll find what you need.


True, I bought sweetie a Royal Oak a few months back for ~$35k that I could sell for ~$70k if I needed the cash. Will buy another for myself tomorrow for ~$25k that I could flip for $60k.


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## Yotadriver (May 1, 2020)

Omar driving said:


> I've managed to save $70,000 over the years. I have no debt and hold the title for my van. Dealer is willing to buy my van for $18,000. I'll have $88,000 at hand if I sell my van. What should/could I do with all this cash? It has been resting in a checking account not even a savings account. I will be OTR trucking in April. I plan to leave Cali for Nevada. Should I keep adding more into it and save for a house or should I invest it in something? I don't know the ABC of investing. I am sure inflation is eating my money.
> Any advice is appreciated. I am not a big risk taker also. I am also thinking of buying my own truck before I buy a house.


Bank - Roth IRA


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