What to do with money?

Emberburn
Emberburn

I'm 30 and I have 70k in cash.
I have no fucking idea what to do with it.
Should I buy a flat? If so..where? I like to be mobile and since I'm a software dev I can find work anywhere.
Should I buy gold? Should I buy cryptos? Should I keep the cash in the bank?
Should I buy a sport car to fuck hot girls?

I'm confused, I usually live like a bum, and don't need much money monthly.

Let me know some advices

All urls found in this thread:
http://www.mrmoneymustache.com/2013/02/22/getting-rich-from-zero-to-hero-in-one-blog-post/
http://www.mrmoneymustache.com/2012/05/29/how-much-do-i-need-for-retirement/
http://www.mrmoneymustache.com/2011/05/18/how-to-make-money-in-the-stock-market/
http://www.thisismoney.co.uk/money/comment/article-3391666/JEFF-PRESTRIDGE-financial-advice-not-bank.html
http://justinbrand.com.au/blog/how-to-check-your-banks-financial-advice-is-right/
Flameblow
Flameblow

@Emberburn
Index funds with vanguard. Never hurts to keep it simple with a S&P 500 index fund from Vanguard. (Assuming you're in the USA)

Just remember to max out your Roth IRA contribution. (Assuming you're in the USA)

If your company matches 401k contributions, make sure to max that. Let's say they match 4%, put 4% of your paycheck. It's free money. (Assuming you're in the USA)

Should I buy a flat? no
Should I buy gold? Should I buy cryptos?no, no Should I keep the cash in the bank? maybe, if it's a high yield savings account that's at least 1% APR.
Should I buy a sport car to fuck hot girls? lolno

BlogWobbles
BlogWobbles

@Emberburn
I'm 30 and I have 70k in cash.
I have no fucking idea what to do with it.

put it into dividend stocks that pay 4+% a year and set up a DRIP so that the dividend payments go to buying more stock

then forget about it for 20 or so years only looking at it to add more or diversify into other dividend stocks

Should I buy a flat? If so..where?

no, thats dumb

I like to be mobile and since I'm a software dev I can find work anywhere.

get an rv/trailer then

Should I buy gold?

no, its on the upswing now but how much longer no one knows, its volatile as fuck

Should I buy cryptos?

ahahahahahahaha, no, dont be dumb

Should I keep the cash in the bank?

other than the dividend stock option this is the second best option

Should I buy a sport car to fuck hot girls?
should i buy a RAPIDLY DEPRECIATING ASSET that will net me stds and possibly a gold digging wife

if thats your thing go for it, but im going to assume you want financial advice not suicide advise so im going to say no

I'm confused, I usually live like a bum, and don't need much money monthly.

thats a good thing

haveahappyday
haveahappyday

thanks for your advices guys.

Also, I'm thinking about buying some kind of farm+land in the country side with a friend. We're pretty convinced shit will hit the fan at some point in our life and we want a retreat place.
Is that a good idea or did I read too much fucking collapse stuff?

I'm from Europe btw

massdebater
massdebater

@haveahappyday
Also, I'm thinking about buying some kind of farm+land in the country side with a friend. We're pretty convinced shit will hit the fan at some point in our life and we want a retreat place.

good idea but not for what you think

cities expand, if you buy in the boonies where land is cheap eventually a nearby city will encroach on it and its value will skyrocket ESPECIALLY if they want it to build a highway

you live 30seconds to 2 minutes away from an ICBM strike, you wont even have time to get to your car let alone get to your shtf retreat. I live in canada where its gonna take 4-5 minutes so i can throw frantically all my canned goods in the basement

sorry your fucked if anything but a zombie apocalypse happens

TurtleCat
TurtleCat

@haveahappyday
No shit.. really?

ZeroReborn
ZeroReborn

@TurtleCat
what do you mean?

JunkTop
JunkTop

@ZeroReborn
You're from Europe?

GoogleCat
GoogleCat

Hi guys I have 40k saved up but I'm British so that's $100, what should just spend it on

StrangeWizard
StrangeWizard

@haveahappyday
We're pretty convinced shit will hit the fan at some point in our life and we want a retreat place.

You're an idiot

Stupidasole
Stupidasole

@JunkTop
yes.. what's the big deal?
@StrangeWizard
Tell me why

Nojokur
Nojokur

@Emberburn
I'm 30 and I have 70k in cash.
I have no fucking idea what to do with it.
@Flameblow
Index funds

pretty much this /thread

Illusionz
Illusionz

@Nojokur
Sorry if I'm a retard, but as a Eurofag, what kind of index fund can I use?
Should i just talk to my banker about it? i fucking hate to have a physical interaction with my banker.

Spazyfool
Spazyfool

@Stupidasole
Will an unstable government fall or reform itself in your lifetime? Probably
Will a stable one? Fuck no

You really think governments that have been around for hundreds of years will crash and burn any day now? Take a history lesson. Things have been far worse in the past than they are now. Even politics is milder.

Preppers waste so much time and money on a fantasy that never happens. Buy a cabin in the woods as a luxury item and fun retreat. Not as a legitimate plan. Will it save you in case of a pandemic? Probably not. Nuclear attack? Hell no. Crashing economy? Only if you know how to farm and keep a constant rotation of fresh supplies. It's a money sink based on paranoia and narcissism. The world was here before you, it'll be here long after you. Invest. Don't hide it under a mattress.

girlDog
girlDog

@Spazyfool
thanks for your feedback.

happy_sad
happy_sad

@girlDog
Sorry I came off as a cunt before. I'm autistic and the notion of "things are so bad these days!" bugs me. I hear it a lot for some reason.

Playboyize
Playboyize

@happy_sad
No worries.
It's just that sometimes I'd swear the collapse is going to happen, at least socially.

But you're right, one has to keep on living, if it happens we're all pretty much fucked anyway.
What I feel coming is a really slow degradation though, that's why i want to edge my bets in the future.

Skullbone
Skullbone

@Illusionz
it's not that but people who don't know shit about the market should never try to beat the market.

government bonds and index funds are where it's at for them. bonds are safer but very low interest, index funds (ones with minimal cost) over decades perform very well.

Firespawn
Firespawn

@haveahappyday
Also, I'm thinking about buying some kind of farm+land in the country side with a friend. We're pretty convinced shit will hit the fan at some point in our life and we want a retreat place.
Is that a good idea or did I read too much fucking collapse stuff?

You are 30 and from Europe? Either you are a western european hipster-faggot or you pretend to be 30. How you managed to obtain €70k is probably inheritance or luck.

I would say that you keep that money on the bank for the adults to take care of it for you.

RumChicken
RumChicken

@Firespawn
what? i can save up in this ex commie shithole 70k in 10 years of honest work.
for a west eu fag it would take 2-3 years tops.

Stark_Naked
Stark_Naked

@Emberburn
Talk to your bank.
Taking financial advice from fucking Veeky Forums of all places is retarded

Crazy_Nice
Crazy_Nice

@Stark_Naked
lol
be me go to a bank
they try to push me to switch from a fucking awesome student loan to a fuck awful fix term loan with twice the yearly interest
i'm not stupid just baffles ask if anyone doing that
"of course user lot's of people doing this"
it's like you want to get cucked

MPmaster
MPmaster

@Crazy_Nice
But OP doesn't have a loan, he's got a bunch of money retard. That means both him and the bank wants to see it grow, the bank will try to promote it's own services so they can take a cut, but they'll still give better advice than "lol just bet it on 5x leverage oil, look at my graph with a trend line i made in paint"

w8t4u
w8t4u

@Firespawn
I'm a software dev who does freelance, I also have my business on the side.
Quite frankly i could have 3x this if I decided to go agressively into freelancing from the start. I tried the startup thing but failed, I learned a lot but I didn't progress financially.

massdebater
massdebater

@MPmaster
Nigger, banks will push him toward either cds or money market accounts which earn next to nothing (but are very liquid amd allow the bank to resell that liquidity at mich higher interest rates), or they'll want him in expensive managed funds that pay fat commissions (and rarely beat the overall market anyway).

Nobody in traditional banking has his best interest in mind. OP, if you want to invest long term, invest in low fee funds that track the broader market. I've also heard good things about places like lending tree, which allows you to provide liquidity to people with consumer debt (things like credit card debt and stuff). Supposedly earns pretty good returns (10%+), but is a bit more risky than index funds.

likme
likme

@massdebater
yup they will push him towards
a) the one investment scheme that will cuck him but offers the greatest reward for the acquirer agent (the clerk)
b) the one that cucks him and the bank makes great buck on it from fees nevertheless.

Poker_Star
Poker_Star

@massdebater
@likme
1. Depends on if you live in a first or third world country (like USA). Where I live, if you're looking for a simple solution banks usually tell you to split the money, something like 70-30. 70% long term in index 30% in safe interest, which is the account you go to when buying a car or whatever.
2. Even stable 2% net per year is better than taking the average of Veeky Forums advice

Techpill
Techpill

One a side note, this board is making my head explode.
Before, I used to think money was an easy thing, just put it in the bank and let them work.
But now I keep thinking about all the ways to make more, all the riskier stuff i could do. it sucks

I think my mind would be much more useful working on the next billion$ startup than think of obscure schemes though.

CouchChiller
CouchChiller

@Poker_Star
first advice was index funds which is a reasonable advice given ops situation.
Taking financial advice from fucking Veeky Forums of all places is retarded
you are the retarded one imo
@Techpill
making money is not easy especially if you are accounting for inflation. sure if you work and keep adding to it it will grow but to make it grow on it's own is hard because the entire system is rigged against it.

people talk shit about how the rich have it easy they just let their money work for them. making your money work is introducing it to risk. a considerable risk if you want to beat inflation. that's not easy in my eye.

Illusionz
Illusionz

@Poker_Star
anyways my real point was that your bank or any of it's employees are not legally obliged to give you good advice or act in your best interest in any way. they all act in their best interest.
Talk to your bank.
there wasn't a single time they did not gave me shit advice. as a naive kid i was like 18 i went into my bank and replaced my debit card and changed account type because my old one was a "junior" for minors and i was no longer a minor.

the clerk bitch told me that is have to choose an insurance to go with my card. i was like no i don't want an insurance can't i just have the card? no you have to choose one. alright then the cheapest one. a decade later i discovered i was lied to. they told me it was simply not true the insurance is not mandatory it's an option but any clerk that makes a deal gets a cut.

that was the day i really learned how this world works. and to double and triple check on every advice your bank gives you or outright discard it.

Lunatick
Lunatick

@CouchChiller
When you "have no fucking idea", as OP put it you can't tell good from bad advice, just because this specific thread doesn't tell him to buy [meme-coin of the month] that doesn't mean taking financial advice from Veeky Forums is non-retarded. People also tell him not to buy a flat, without even asking where he lives, which is absolutely horrible advice.

@Illusionz
Both points still apply.

Lord_Tryzalot
Lord_Tryzalot

@Lunatick
Both points still apply.
no you simply can't state with certainty that his bank will give him legit advice especially if he comes off a mark.
also putting money in bad % just because it1s easy and safe is absolutely the worst advice even a single % difference compounding can mean a world of difference 7 years of doubling it or 20 years.

Methshot
Methshot

@Lord_Tryzalot
I'm not saying his bank will give him "legit advice". I'm saying they won't make him lose literally 60% of it in 6 months. And again, in most countries, banks DO give legit advice, I can't help that you live in a third world shithole.
putting money in bad % just because it1s easy and safe is absolutely the worst advice
And here we see why you're unfit to give any sort of financial advice to anybody. Even though OP said "I have no fucking idea", you expect him to make active decisions and successfully place his money himself, without probably even knowing what "volatile" means.
You can look up a 10-minute youtube video on how to change your timing belt too. That doesn't mean I would recommend someone like you to service your car yourself, even if it's 1/4 the price

PackManBrainlure
PackManBrainlure

btw op read this blog
http://www.mrmoneymustache.com/2013/02/22/getting-rich-from-zero-to-hero-in-one-blog-post/
http://www.mrmoneymustache.com/2012/05/29/how-much-do-i-need-for-retirement/
http://www.mrmoneymustache.com/2011/05/18/how-to-make-money-in-the-stock-market/

you don't have to agree with everything this guys says and not everybody can follow his advice to the letter he got lucky to be honest. but it can introduce you to a mindset that will help you grow your wealth.

Evilember
Evilember

@Methshot

Ok but to point him in the direction of index funds for long term investment is a sound idea.

Yes it's up to the op to determine the amount of risk he wants to be exposed to etc but I don't see how people pointing him down this road is a dumb or stupid idea .
Good luck with the ~2% a year your bank will give you

Flameblow
Flameblow

@Methshot
banks DO give legit advice
show me proof they are legally obliged to, you won't find any. and where i stand you most likely got cucked you just can't tell yet.

Ignoramus
Ignoramus

@Evilember
Practice reading. I'm not saying all advice ITT is bad. I'm saying taking financial advice from Veeky Forums is retarded. Especially when you "have no fucking idea" and won't know the difference between an index fund and a 5x leverage gold future

@Flameblow
in most countries
I can't help that you live in a third world shithole.
which is still besides, the point, since at least the bank "won't make him lose literally 60% of it in 6 months"

Lunatick
Lunatick

@Ignoramus
which is still besides
it's absolutely not beside the point user it's the point, if your bank can lie to you device you and cuck you and make profit on it it will you can count on that. same goes for "financial advisors"
I can't help that you live in a third world shithole.
i'm not sure really first world by current definition second by legacy and third by many aspects but i never been in any true third world shithole so i might just be oversensitive. but it doesn't matter what matters is what the laws says. banks usually are business ventures that try to make profit for their shareholders alone, not you not op, not even bill gates or george soros only their shareholders.
since at least the bank "won't make him lose literally 60% of it in 6 months"
first of all you can't know that there are portfolios in every bank where you can lose 60% overnight. for example a russian focused protfolio pushed before the sanctions is a great example.

Garbage Can Lid
Garbage Can Lid

@haveahappyday
Where in europe?

FastChef
FastChef

my boipussy for 70k

like my soul but tighter

CodeBuns
CodeBuns

@Lunatick
it's absolutely not beside the point user it's the point
yes it is. The point is that following financial advice from Veeky Forums can make you "lose literally 60% of it in 6 months". Following advice from your bank wont.
your bank can lie to you device you and cuck you
OP doesn't live in america. Jesus, how hard is it for you to understand that the world is different in other places
you can't know...
lol, literally "prove me wrong"
for example a russian focused protfolio
would not be given to someone saying "I have no fucking idea", it would be a much safer portfolio.
Unlike retards like you who think someone saying "I have no fucking idea" Means they should create their own portfolio with high-risk assets to maximize possible returns.

Illusionz
Illusionz

@Garbage Can Lid
france

Need_TLC
Need_TLC

I don't know man, but I'd try some of the reliable and budding entrepreneur's on Veeky Forums!

On a separate unrelated note, I have an exciting business opportunity that would only set you back 10 easy payments of 7k!

farquit
farquit

@Emberburn
@BlogWobbles
fellow destitute rich dude here, lurking for more info

hairygrape
hairygrape

@farquit
what happened?

Sharpcharm
Sharpcharm

@CodeBuns
Unlike retards like you who think someone saying "I have no fucking idea" Means they should create their own portfolio with high-risk assets to maximize possible returns.
noone said that you are imagining things
jesus this guy really like spouting bullshit. trust your bank user i don't care but don't go around saying Veeky Forums is full of bullshit if you are the biggest bullshitter and give the worst advice in a thread. altho it does in a way prove your point.

Lord_Tryzalot
Lord_Tryzalot

@Sharpcharm
noone said that you are imagining things
Here you're telling a guy with "no fucking idea" about how investing works to stay away from "easy and safe" placements @Lord_Tryzalot

girlDog
girlDog

@Lord_Tryzalot
i said advising low percentage just because it's easy and safe is a crime against wealth growth.
70k for western fag is not that much maybe a years worth of salary maybe a years worth of savings.
a dew millions you can put into very safe low yield investments sure but it's a retarded advice for such a low sum.

happy_sad
happy_sad

@girlDog
advising low percentage just because it's easy and safe is a crime against wealth growth.
Not if the guy has "no fucking idea" about wealth growth. See @Methshot

cum2soon
cum2soon

@happy_sad
well i would never have guessed he wouldn't bother to educate himself about it in the meantime index funds are not bad, altho the timing on buying stocks is pretty questionable but the general consensus around the world is you shouldn't try to time your investment you loose more than you gain statistically. market timers tent to buy high and sell low as they play a reactive game.

likme
likme

@cum2soon
my advice was good, but you're the wrong person to receive it.
jesus.
Also, I take it then that you have "bothered" to educate yourself on how to service a car yourself? And weld and sew and all the other things that will save you just as much money as spending time on your placements

Gigastrength
Gigastrength

@Emberburn

The first major financial decision any man should make is buying a home. I know some people here knock homeownership, but it's a key aspect of manhood to own a living space.

JMO.

Burnblaze
Burnblaze

@likme
are you fucking dense? motherfucker it's not the same at all, 1 i did for a while service my own car but nowadays i drive a company car and it's not an option. i can do pretty much everything in a home maintenance if i need some help my father built an entire house with his two hands so i give him call.

it has nothing to do with investment tho as none of these craftsmen have a vested interest to screw you normally. they might out of greed, but when they do they can be held accountable. your bank is in no way accountable for giving you shit advice tho. this doesn't exists. hell i can't even prove they lied to me.

op asked for advice he was given pretty solid advice fuck off, and no op in no way you should seriously ask your bank for financial advice that's ridiculous.

http://www.thisismoney.co.uk/money/comment/article-3391666/JEFF-PRESTRIDGE-financial-advice-not-bank.html
http://justinbrand.com.au/blog/how-to-check-your-banks-financial-advice-is-right/

Flameblow
Flameblow

@Gigastrength
yeah no, first get the money and then don't spend more than 10-30% of it on real estate.
mortgage is not your investment it's the banks and the banks make a killing of it unless something pops. and then the banks get a bailout so they are still good but from your tax money.

TalkBomber
TalkBomber

@Burnblaze
given pretty solid advice
see @Lord_Tryzalot

RavySnake
RavySnake

@TalkBomber
i was talking about the first reply you cunt and yes him avoiding government bonds in this phase of growing wealth is the most solid advice he will receive after investing in low fee index funds.

BlogWobbles
BlogWobbles

@RavySnake
i was talking about the first reply
see @Ignoramus

RumChicken
RumChicken

@Flameblow

So you're alternative for living would be what? Renting?

In both cases you have a roof over your head, but only one has an ROI.

But cool, keep renting your whole life. I remember my first beer.

PurpleCharger
PurpleCharger

@BlogWobbles
what kind of retarded circular logic are you trying to push here? taking advice from Veeky Forums is not one bit more retarded than taking advice from your bank. sure you bank will not tell you to put it all in trump but man you would have to be stupid to do that.
there is plenty of legit advice on Veeky Forums plenty of guys who know their shit. you are not one of them apparently.
renting is more financially sound for me right now. you could say it's worth it to me both financially and freedom wise. i keep an eye on the market if this changes i might buy but it's unlikely in the next decade.

i repeat if buying a home would worth it financially i would but it's not. math doesn't add up. i will also inherit a flat anyways i will again decide then to sell or keep. most likely sell tho.

StrangeWizard
StrangeWizard

@RumChicken
renting is more financially sound for me right now. you could say it's worth it to me both financially and freedom wise. i keep an eye on the market if this changes i might buy but it's unlikely in the next decade.
i repeat if buying a home would worth it financially i would but it's not. math doesn't add up. i will also inherit a flat anyways i will again decide then to sell or keep. most likely sell tho.
was meant for here

Nojokur
Nojokur

@PurpleCharger
taking advice from Veeky Forums is not one bit more retarded than taking advice from your bank
see first line @CodeBuns
there is plenty of legit advice on Veeky Forums
see @Ignoramus
again
won't know the difference

Garbage Can Lid
Garbage Can Lid

@Nojokur
you cheeky cunt you said nothing in this thread that makes a goddamn sense why do you think that linking your replies means anything kek?
it's pointless if it didn't make any sense the first time sure as hell the second time won't either or the third.

PackManBrainlure
PackManBrainlure

@Spazyfool
@Spazyfool

This was worded beautifully.

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