Investments

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Originally Posted by youandwhosearmy

Gold pretty much is a guranteed recovery though, I think Silver flies in under the radar as a natural investment (Er, trade).

I think, as Nick said, you should go with pretty high risk stock. Its a totally unexpected income your looking at here, and if you had no plan for future, unexpected earnings, you have no real excuse not to. Especially if your gonna take the time to micromanage it, the worst it can do is teach you about the ebbs and flows of micro managing in the stock world.

If not, Biff's got the right idea, but I think he's being a bit to conservative with it, again since it was unexpected.

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I have a varied portfolio. My RRSP is conservative for mild gains. I can use it eventually against a new house payment when I decide to move and it's tax-free money from the government. If I take the money out I have 15 year to put it back in or else I get taxed on it again. When I retire it's all mine, though. The kicker is that I want to use it in about a year or two so going in to a high risk, rollercoaster investment isn't the greatest idea since I can't really afford (I don't really want to, anyway) the time I'd need to get back my loss. I'd rather have a nice ass house (which is another investment anyway, I flip the houses I live in for a sale every year or two to make a nice gain on them. You'd be stupid not to do this while you're young and unattached). So a slow, decent gain is good enough for me. I have money in the bank enough that I can hit a nice down payment when the time comes, anyway. The RRSP is just gravy.

My side portfolio is more aggressive. I'm not just in China right now, I'm dealing with a variant of groups to help maximize my gains over the next 10 years. I'm 23, so I can afford a 15 point loss on my investment one year if I get 38 the next, and +15 after that. That money is long term, although it is subject to taxes.

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Originally Posted by Biff-chan

Where not talking about WOW gold here Drew, real man money.

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I know the value of a dollar and I am notoriously good at saving my money. I also used to run a small gaming site I sold for 12k last year (it was dormant for like 5 years, too). I'm glad I sold it when I did, too. With the Canadian dollar going up I made even more money on the deal (he payed me in US funds, which I traded back in to Canadian).

Once my small business gets its running legs I'm hoping to be a rich man. But it turns out an amazing, uncharted idea based on existing material and very little capital risk isn't enough to get some people interested (seriously, like 200 bucks capital needed, which I'm paying for myself anyway). I'm learning what I need to in night classes in order to do most of it myself. Until then I wait and save my money.

If anybody paid 12k or 12 dollars for a gaming site, they should probably be killed.

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Originally Posted by Biff-chan

Well, shit if we are playing that game, I'll just go and buy 15 shares of Berkshire Hathaway.

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Berkshire Hathaway B I bet, you pussy.

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Originally Posted by MarsKitten

Yes but the idea of money not working for me in the long run (ie sitting in the bank collecting dust/minimal interest) seems like a waste. Especially if the market can out perform the interest on my student loans.

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With the amount of free cash flow you're generating, commercial real estate, franchising, and other passive investments and businesses (key word: passive) that actually generate a cash flow stream may be of interest as well. As much of a market proponent as I am, I love me some cash flow. If you are able to act as a management company or set one up in your stead, this may be an option worth considering.

Keep doing your thing, Drew. Your savings rate is impressive as is your perspective at 23. You seem like you have a plan. If you have the brains and the balls to execute it even when it's not so fun to do so, you'll get your financial freedom.

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Originally Posted by Biff-chan

If anybody paid 12k or 12 dollars for a gaming site, they should probably be killed.

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I'm sure with the right channels you could make it all back through advertising. Some guy in Madrid was adamant. He offered me 2k initially and I talked him up. I still wonder if I could have gotten him to 15k.

I could tell by his tone he was angry some punk kid was taking him for all he was worth, which made everything that much sweeter. I'm a bit of an antagonist if you haven't noticed.

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Originally Posted by Gooch

Keep doing your thing, Drew. Your savings rate is impressive as is your perspective at 23. You seem like you have a plan. If you have the brains and the balls to execute it even when it's not so fun to do so, you'll get your financial freedom.

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It's already in motion... well done I guess. You just pick and that's it. But I'm going to be checking up on it every month. I've always been fortunate when it comes to money, but ask any bank manager in your area and they'll tell you how rare it is to see somebody not dropping 2500k on computers and unessentials every 3 months bitching and moaning to them about their financial status.

I know people my age who will drop 100 on something that's considered a "deal" even though they were never in the market for the item (computer, phone, etc). I could never do that. I recently bought a Macbook Pro for freelance design work and it took me like 2 months to pick the laptop over a desktop iMac.

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Originally Posted by Drewbacca

I have a varied portfolio. My RRSP is conservative for mild gains. I can use it eventually against a new house payment when I decide to move and it's tax-free money from the government. If I take the money out I have 15 year to put it back in or else I get taxed on it again. When I retire it's all mine, though. The kicker is that I want to use it in about a year or two so going in to a high risk, rollercoaster investment isn't the greatest idea since I can't really afford (I don't really want to, anyway) the time I'd need to get back my loss. I'd rather have a nice ass house (which is another investment anyway, I flip the houses I live in for a sale every year or two to make a nice gain on them. You'd be stupid not to do this while you're young and unattached). So a slow, decent gain is good enough for me. I have money in the bank enough that I can hit a nice down payment when the time comes, anyway. The RRSP is just gravy.

My side portfolio is more aggressive. I'm not just in China right now, I'm dealing with a variant of groups to help maximize my gains over the next 10 years. I'm 23, so I can afford a 15 point loss on my investment one year if I get 38 the next, and +15 after that. That money is long term, although it is subject to taxes.



I know the value of a dollar and I am notoriously good at saving my money. I also used to run a small gaming site I sold for 12k last year (it was dormant for like 5 years, too). I'm glad I sold it when I did, too. With the Canadian dollar going up I made even more money on the deal (he payed me in US funds, which I traded back in to Canadian).

Once my small business gets its running legs I'm hoping to be a rich man. But it turns out an amazing, uncharted idea based on existing material and very little capital risk isn't enough to get some people interested (seriously, like 200 bucks capital needed, which I'm paying for myself anyway). I'm learning what I need to in night classes in order to do most of it myself. Until then I wait and save my money.

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Buy a super rich house then have a tnl get together.

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Originally Posted by Gooch

With the amount of free cash flow you're generating, commercial real estate, franchising, and other passive investments and businesses (key word: passive) that actually generate a cash flow stream may be of interest as well. As much of a market proponent as I am, I love me some cash flow. If you are able to act as a management company or set one up in your stead, this may be an option worth considering.

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I've considered becoming a silent partner in a business or two, but honestly, unless the US starts ANOTHER war, the market will (mostly, taking into account the boom/bust cycle) steadily go up over the next 40-50 years. Basicly I want to grow my money for an early and comfortable retirement that can finance the goals of my family (putting cousins and nieces, nephews thru college, paying for weddings, a car)

I just bought a Mosrite #10 of a limited production of 10.

This is the closest to investing I think I'll ever be able to do.

A friend of a friend of mine recently sold the domain www.dirty.org for an insane amount of money.

I'm in the process of getting out of debt then out of home, then i'll start looking at my options financially.

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Originally Posted by Drewbacca

It's already in motion... well done I guess. You just pick and that's it. But I'm going to be checking up on it every month. I've always been fortunate when it comes to money, but ask any bank manager in your area and they'll tell you how rare it is to see somebody not dropping 2500k on computers and unessentials every 3 months bitching and moaning to them about their financial status.

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See, when I worked out that I'd have that spare cash if I didn't spend it on pointless shit then I just started working less and enjoying my retirement now :bang:

It's interesting to see that people my age can do it though; different strokes, I suppose. I hate working so much that working for a 'retirement' that might never come would drive me slowly and surely insane. I'd rather go without some stuff and have an extra couple of hours every week to myself.