$20,000 dollar question advice sought
 

Ok;

thanks to a combonation of hard work and being in the right place at the right time, I am going to be getting pre tax commision checks of 3k, 3k, and 16k this month and the next two months. Yay me. This is outside of my usual income from sales and salary.

I am looking for ideas of what to do with it. Rental property? Or is the fall still coming in real estate?

Stocks in Liquor and Ramen noodle companies that do well in hard times?

The onlt debts I ahve are my mortgage and an 8k home equity loan I got to pay for a heat pump, to replace my oil heater. My car is paid off.

Any ideas?

I don't think I'll be going to vegas or giving it to any nigerian finace ministers.

I am looking for an investment idea.

With the current Market. Even "Stocks in Liquor and Ramen noodle" are a bad investment.

Is Richmond the university town? Renting to students is always good they have low standards :)

butt a 20k down payment would suck i'd think..

If your taking a long term view this might not be a terrible time to start investing in stocks just make sure you don't invest all at once (use dollar cost averaging over a year or two)

I think in general it would be a bad idea to invest anything into the stock market for the next 6 months, best options would probably be metals or your own business

pay off the equity loan and start more sites

If you have $20,000 coming, you can afford to ask an accountant.

buy a premium domain

Best investment is being debt free.. pay your shit off :)

so taking your advice....
 

So after i pay off the 8k what should i do with the 10 or so i have left after taxes?

Is Richmond the university town?
 

The University of richmond is full of very rich kids, but there is a school downtown, but I don't think 20k will get me a rental property

I agree.

Then take what is left and copy the exact business model that made you the first 20k to begin with. Copy it as many times as the leftover money will allow you to. :2 cents:

And don't forget to set your business up offshore before you get any more big checks.

You said you still have mortgage.

save em for later!

Paying shit off is the way to go.

Stick it in the bank for the next time something like a broken oil heater comes up so you won't have to pay interest to pay to fix it. :thumbsup

If you added a zero at the end of your numbers, I'd say go for the RE, but with little dollar amounts like that, put away for a rainy day.

buy silver

It's a good time for long term stock investments. Buy now cash in later.

Real estate and stocks are pretty beat up. It is a good time to get in. I would stay away from oil and metals. Get an sp500 index fund. It will match the market and now is a better time to buy then 10 months ago so you have that going for you.

Stuff it under the mattress.

I didn't make it in this biz, I made it in my other biz, and the way i made it will not happen again for a couple years.

paying off a big chunk or the mortgage, or putting the cash into a refi, would entice me, but if real estate craps out haven't i then thrown it away?

cash in the bank is the best right now... if you have a good intererst rate on the 8k then let that ride...

hold the cash until after the new year and new president..

there is probably going to be a lot of opportunity coming up for those who are liquid..

Buy a piece of pre-construction real estate down here and if you can wait 2 years, you'll do really well.

Grains and gold.especially rice and corn

This isn't directed at you personally, but it completely flummoxes me when people don't seem to realize that house they bought for "$350,000" will end up costing them $1,000,000 at the rate they're paying it off ... Put everything you can afford into paying back your mortgage ASAP. Until you do that, you're not a homeowner; you're renting from the bank. Even a few hundred extra here and there, whenever you're able, can save you tens of thousands over time. Start looking at the price of everything you buy and double or triple the cost in your mind. That $2000 Plasma TV could knock $6000 off your total mortgage payments instead.

that's a great point...I was thinking If i brought 20k in, I could refi at a better rate as well as pay it off sooner, if that point was not clearly made. thats one option, but i was looking at other things, I don't usually have a big lump sum like that

put options on any of the three major us stock indices

put in in the bank.
SAVE !