I've been in that situation before in selling off hobby cars. First thing I did was buy my wife an Ipad, purchased a really nice bass and then put the rest in retirement savings.
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What to do, what to do....
- Thread starter Paulabass
- Start date
Why not have the best of both worlds? Invest the money and spend your time hopping up on your friends' sofas in a single bound, like Tom Cruise did with Oprah.
With interest rates effectively at zero is there such a thing as a “high yield investment” that doesn’t involve some risk? I’m not a doomsayer but this viral pandemic is pretty fresh to be assuming that we’re already at the bottom and climbing out of it. Maybe so but maybe not.
As a Canadian living abroad, I keep an eye on the exchange rate of my homeland. Purchase power is eroding as of late. Paula lives not all too far from where I grew up. Seemed like it was pertinent to the topic.
Who said "We spent a lot on comic books and beer, and we wasted the rest." Ritchie Cunningham??? Damn, I am old.
As noted earlier, there are no high yield investments today. They all suck, and will for at least another year.
But - if you have enough money to make a difference, and you have some patience, there are some stocks which are low right now (even Disney, believe it or not) that will surely rebound in the near future.
If the car on consignment was a moderate price used car, I'd say make sure your bills are covered and use the remainder to go shopping for bass toys.
But - if you have enough money to make a difference, and you have some patience, there are some stocks which are low right now (even Disney, believe it or not) that will surely rebound in the near future.
If the car on consignment was a moderate price used car, I'd say make sure your bills are covered and use the remainder to go shopping for bass toys.
There’s still a bit of a discount on many stocks right now, might be prudent to buy some. Sad to say.
Delayed gratification is a virtue, so I have heard.
Delayed gratification is a virtue, so I have heard.
Well, perhaps that dip is over. Someone I know bought Disney while it was down and is perfectly wiling to wait for the rebound.
It probably goes without saying, but neither is the correct answer. With an economic downturn in progress, the market will respond accordingly. Bass equipment doesn't buy food, and the re-sale market for musical equipment could and should take a predictable hit. US currency is "technically" worth nothing but, none the less, I would put it directly into my safe in stacks of green paper money.
Unless there is something you absolutely NEED right now, save the money. Things are not good in the world right now and you'll be glad to have that money later on when you DO need it.
