Say that I'm not satisfied with my stock market returns, and I have 30 thousand dollars cash.
What can I buy or do to cut down on my future expenses with this money?
Options include:
used hybrid
Cooking equipment/supplies
Club memberships (sam's club, Costco)
Insurance? Maybe renter's insurance, or liability insurance.
High efficiency appliances?
A "forever" wardrobe of suits, slacks and shirts that should last for the duration of my career (15 more years, at the most)
Any other ideas?
Other urls found in this thread:
>put solar panels on your house
>put power back into the grid
>get paid by the power company every month
>enjoy
>having a house
So maybe getting a house might not be such a bad idea.
I suppose starting up a small tax shelter isn't out of the question either.
Down payment on a house. More than likely you can get a motgage and insurance for the house cheaper than what you are paying in rent by a landslide. I went from paying 800 a month rent for a tiny one bedroom to paying 600 a month for owning a three bedroom two bath house. Yes you might have to pay to repair it once in while, but that two hundred a month will more than cover it PLUS when you are retired you wont have rental expenses or that mortgage because it should be paid off. Plus side is if i got desperate i could always rent one of my rooms out to cover house payments
Firstly contribute maximums to your tax advantages accounts - 401k and IRAs
Get a good points credit card (CSR, for instance) even if it has a yearly fee this is often more than offset by the rewards of using it often enough
Yeah, i live in ks and a buddy blew 10k on solar panels. Pretty much 0 electric bill until they start to die.
Personally i would buy some personal finance books and try to start a small side business to grow that money and retire in 5 or 10 years instead of 15?
Drive at night with your headlights off to save electricity
>Cooking equipment/supplies
If you want to take 1 or 2k and buy kitchen equipment, it will be worth it. Buying quality utensils, knives, pots and pans is so worth it. This stuff retains its value and if treated properly will last a lifetime (or more). I have a set of pans that belonged to my great grandmother. Last year I bought a nice set of kitchen knives for about $300 (macys company discount 50% off booyah) that are so nice to work with, and they will last forever if I take care of them. If I ever need to get rid of this stuff it will actually retain value pretty well, as it's very high quality and people know the brand.
I like to cook, and I'm willing to invest in better cookware. I'm probably going to wait until I move to buy a full kit, and then try to grow and process as much as I can myself to cut down on costs.
I'm putting the max tax allowed amounts into traditional 401k and roth IRA. I don't do roth 401k because I don't want to increase my income by 18k a year, since I have IBR on my student loans.
I have a rewards card with a low limit, trying to get my limit increased and my rewards increased ASAP.
If you need ~20% of the value as a down payment, I'm looking at a 150k property, right? That isn't excessive, but I doubt that I could find a place worth having without having to build my own house for that much where I want to live. I guess I could just put a camper on some land while I figure things out.
I'm the kind of loser that looks for a second job instead of trying to start a business. I have minimal motivation and I'm not very creative.
>buy boat
>insure boat for more than it's worth
>somehow boat sinks
>profit
I accidentally did this many years ago. I was given a boat by my Grandparents and wanted insurance. Had no idea what the market value was so made up a number. It ended up sinking at the marina during a bad storm and I got a check for $20K. My Grandma went crazy telling me that I should tell the insurance company they only paid $14K for it.
Alternatively, I could buy a sweet camper and just live in it 6 months out of the year.
No utilities if I park at work/the gym, I can charge my devices and battery pack at work, and a room in the winter is only 1000 a month.
Insuring a camper is probably pretty brutal, though.
Wait, is insurance fraud seriously that fucking easy?
Pretty much. I think home insurance fraud is the most common. I know a guy that owns a roofing company and he is a licensed person to determine whether a roof needs to be fixed or not in order for insurance to cover it. He takes money under the table from people to approve it so they get free insurance money when the roof is fine.
dont do this you retard you will go to jail
do you not think people try to commit insurance fraud all the time?
solar panels would go great with a camper, actually. I'm thinking about something like this thegidget.com.au
So why not over-insure everything?
Oh, wait, maybe because I can't guarantee that bad things happen to my insured stuff and if I'm not fraudulent chances are I'll spend more than I reap from insurance.
Yes, and the fact that people do this is factored into your monthly payment. Insurance companies gotta eat, too, you know.
How much money are we talking about here? You can turn him in and collect a bounty.
I have a friend who works as a private investigator. His entire business is funded by insurance companies. He follows people around all day long to see if they're committing fraud, and he catches a lot of people. Insurance fraud is no fucking joke and you will most likely get caught.
Buy a chest freezer, and then get takeout containers, meat, pasta and veggies from a wholesaler. Batch cook and freeze 3 months worth of food at a time. While you're at the wholesaler stock up on bottled water (and soda if you're a fag) and always drink these when you're out rather than paying out of the nose for Starbucks, the office vending machines, etc.
Also, home gym. Invest in a decent rack, barbell and plates, and your choice of elliptical/treadmill/rower depending on what cardio you like. Never again pay to wait for a pack of sweaty nigs to finish hogging the bench press.
This post and the preceding one both assume a house.
so what would be the advantage?
A camper is a relatively cheap means of reducing housing costs, in comparison to a house, apartment, or condo that is accessible to a cash buyer with minimal hassle.
I also don't have to be a homestead wizard, and don't want to camp in winter.
I work in places that have free gym and shower facilities, but at home options are nice if I have the space. Fitness is a great investment, and helps to cut down on healthcare costs tremendously
Campers also enable you to live on small plots of owned land without having to build a house or deal with infrastructure. You just need to have a place to poop regularly.
You can put power into the grid and get payed? When the fuck? How? I'm interested in this someone please explain
Some places that aren't KEKED BY A MONOPOLY ENERGY COMPANY NEVADA allow you to get credited for having solar.