Would love to hear what some of you are doing with your cash pile to make money
09-25-2015, 10:58 AM
#31
Registered
Join Date: Aug 2006
Location: Pompano Beach, Fl
Posts: 43
Likes: 0
Received 0 Likes
on
0 Posts
An annuity from an insurance company can be good. Drawback it locks the cash long term. A family friend made $100 million from stock options in the 80's. He has been earning $1 million per year since then with an annuity. He hates losing money. He still has about $50 million in free cash. Has not worked since 84. Once you make a stock pile of cash, focus should be on preservation, making a good income. Not making another giant stock pile.
09-25-2015, 11:46 AM
#32
Registered
Had a friend Charlie that was doing the same thing with executive jets. Of course timing is everything and one does not want to get caught when the economy turns down and be stuck with a couple of jets or helicopters. Same for for speculators when real estate crashes.
Bob
Bob
09-25-2015, 11:52 AM
#33
My take by age 50 you should have the house paid off. No kids in college. Very little living expenses. Should be able to live on $100k to $200k per year after taxes. Biggest expense should be property taxes.
09-25-2015, 11:54 AM
#34
Registered
Join Date: Dec 2013
Location: Fargo ND
Posts: 192
Likes: 0
Received 0 Likes
on
0 Posts
09-25-2015, 01:20 PM
#36
MC, you are correct......Viatical Settlements are now called Life Settlements and are certainly invested in today by Warren Buffet and several hedge funds. However, this type of investment has been the basis for several "scam investments" in the past and aren't for the novice investor.
This was a decent article in Time regarding them: http://time.com/money/3556983/life-s...-creepy-truth/
But note: "For buyers, settlements are complex and illiquid, and they may not pay out for many years. Given these hidden risks, they generally do not make sense for individual investors."
Quoting "Warren Buffet does it" in any investment plan should usually be the red flag for a small time investor......
09-25-2015, 01:30 PM
#38
Registered
Insurance is the killer here and it aint going nuthin but up..
I would not touch Commercial property with a 20 foot pole unless it was good cheap storage or work bays bought at a reasonable price.
Retail frontage is a dying dog.
Last edited by tommymonza; 09-25-2015 at 07:38 PM.
09-25-2015, 01:33 PM
#39
Investment "kills" have hurt a lot of people. Make you money, then go conservative usually has the best outcome. A few celebrity investors had different approaches. Scottie Pippen was a "return chaser" after hearing locker room talk about how much someone claimed they got in a stock or investment idea. People would pitch him reasonable stuff and he didn't want it, he wanted "kills" so he eventually surrounded himself with people that promised the moon and he lost most of his fortune in real estate development then sued everyone that didn't stop him from making bad investments.
Curt Schilling had a 50mm fortune he poured into a video game. He has been quoted as saying he wanted to be "Bill Gates Rich" and figured that since he was involved (Curt) that the venture couldn't fail because he viewed himself as a successful person. Imagine having 50mm earing even 5% (2.5mm a year, forever!) but "going for it" and losing it all in a video game venture?
Wayne Gretzky has is right. He has a 60+ million dollar fortune and "wouldn't invest in anything that would jeopardize his family's wealth for generations to come." He said he invests less than 5% of his fortune in speculative stuff. Guaranteed fixed income is what he is interested in. Big picture: For a guy that has been wealthy for years, whether he has 60 million or 100 million is really irrelevant, he would have the same lifestyle so why go risky when you are already rich!
Curt Schilling had a 50mm fortune he poured into a video game. He has been quoted as saying he wanted to be "Bill Gates Rich" and figured that since he was involved (Curt) that the venture couldn't fail because he viewed himself as a successful person. Imagine having 50mm earing even 5% (2.5mm a year, forever!) but "going for it" and losing it all in a video game venture?
Wayne Gretzky has is right. He has a 60+ million dollar fortune and "wouldn't invest in anything that would jeopardize his family's wealth for generations to come." He said he invests less than 5% of his fortune in speculative stuff. Guaranteed fixed income is what he is interested in. Big picture: For a guy that has been wealthy for years, whether he has 60 million or 100 million is really irrelevant, he would have the same lifestyle so why go risky when you are already rich!
09-25-2015, 01:36 PM
#40
Yea here in Florida I wouldn,t expect much cash flow for the 1st 5 years until the rent prices pass the suddenly inflated price these days that you would have had to pay for the property.
Insurance is the killer here and it aint going nuthin but up..
I would not touch Commercial property with a 20 foot pole unless it was good cheap storage or work bays bought at a reasonable price.
Retail frontage is a dying dog.
Insurance is the killer here and it aint going nuthin but up..
I would not touch Commercial property with a 20 foot pole unless it was good cheap storage or work bays bought at a reasonable price.
Retail frontage is a dying dog.
I would love to own a storage facility.......get it full of people's stuff that they can't part with and collect the $100-200 a month forever!
