Is anyone here "Cash Rich" ?

[Lone Wolf]

My advice is don't wait on the stock market to fall. You are in a good time to buy, no sense waiting for the "perfect" time to buy. By this time next year the market will be in full bullish mode. My advice, find a good green energy company with promising r&d and a good debt ratio. Out of those that qualify find ones that have good liquidity and or are very mobile in terms of active acquisition without putting themselves in danger of over leveraging themselves. Out of those, should only be a few publicly traded companies, find ones who are affordable. This doesn't mean cheap. What affordable means is look at their track record as a company and find one whose current selling price is well below their company worth. To determine this is actually a little more complicated than you think so I would do some reading. After that, sit back and wait. Or you could simply play the market daily and get much larger returns. Be sure of one thing though, play it smart, don't put all your eggs in one basket or in one general area of the market, diversify but don't do it just to do it. Find companies whose profit potential is high and build a list for each niche of the market you want to play. Anyways, this actually turned out a lot longer than I thought it would be. Final word of wisdom, if you have enough money and want to let it just sit around somewhere and earn for you, buy into pinnacle armor, might be the best investment you ever make.

haha haha haha

 

[NoSaint]

The best way for you younger guys and girls to hang on to your money is to USE PROTECTION. Children are expensive. They can put you in a hole in a hurry when your young or old.

One thing I just did this weekend is opened up two online savings account. One has 15$ a week going into it, taken directly out of my checking account. The other has 30$ a month put into to it. I have no atm card for these accounts and am planning on not using the money ever. Some of the online savings have higher interest rates than regular savings.

I also have a 2nd checking that i have a $100 a week put into. That one is in a bank in my home town which is two hours away. Gave the debit card off that one to my dad.

I'm horrible with saving money. Between child support for my daughter and the money the baby from the current relationship I can't save a dime. I screwed my credit up young, then was on track to fix it and shattered my ankle and was out of work for 9 months. That put me 12,000 in debt and got my car repoed. I'm trying to fix it and save some money, but it isn't a quick process.

I make more now than i ever have, but yet it seems like i have less money than i ever had.

 

[Haps]

Pile o cash,
pound o weed,
Can't think o nothing,
else that I need.

 

[resin_lung]

I have ZERO ZIP NADA credit. Never had a credit card. I did a credit check a year ago just for fun, It came back empty.LOL I saved my ass off. While my partners bought rolexes and expensive cars.... I saved. I only spent it on things I was sure I could flip for a profit. I was all about the stack. I collected cash. Like scrooge mcduck!
I am retired now. Houses are paid for. cars are paid for. If I need some extra cash, I gotta get the shovel. LOL I run into problems every now and then, but I can usually get the money in the bank if I scramble. Thank god my GF's legit as hell. She's got great credit. Together we're unstoppable.

EDIT- Like NoSaint said..... we aint got no kids!!!!!!!!!!!!!

 

[Chamba]

9 out of 10 Americans are up to their necks in credit card debt or under water....the sentiment expressed in this thread is an indication of what is going to happen for the ten ~ 15 years, namely, there's a major change in the mindless consumerism that took place over the past 10 ten years, everyone will be more conservative and will be actively trying pay off debt and actually try to save. This is bad news for the world economy that have relied on the USA's buying power..now that will ease off, going by what happened in the past (and history repeats) we will see a major world war within 5 ~ 10 years.

 

[kaotic]

Cash is better off working for you than saved. Especially when the value is dropping. Think about the time value. Invest now. A monkey could make money in this market.

 

[grobart]

My Wall Street Wizards made me 28K last month. I have about twice that liquid. I do not have a car loan and we cleared our mortgage when we sold our condo, last year, for a profit.

I work hard and save/invest prudently.

The biggest thing is not buying a fucking Margaritaville (South Park Reference). If you can't afford a 200K "McMansion", DON'T FUCKING BUY IT. What the hell happened to spending within your ("You" understood - the Royal YOU) budgetary constraints.

I called a low level painter to touch up some shit on the exterior of my parents house. This asshole was driving a 65K BMW M5. What sort of an hourly laborer can afford an M5?

I am an attorney and I don't even drive an M5.

 

[BudGood]

My Wall Street Wizards made me 28K last month. I have about twice that liquid. I do not have a car loan and we cleared our mortgage when we sold our condo, last year, for a profit.

I work hard and save/invest prudently.

The biggest thing is not buying a fucking Margaritaville (South Park Reference). If you can't afford a 200K "McMansion", DON'T FUCKING BUY IT. What the hell happened to spending within your ("You" understood - the Royal YOU) budgetary constraints.

I called a low level painter to touch up some shit on the exterior of my parents house. This asshole was driving a 65K BMW M5. What sort of an hourly laborer can afford an M5?

I am an attorney and I don't even drive an M5.

Good shit, if more people were following your model, our economy might not be in the current state it's in. I see soooooo many people that live far outside their means, I have the same house I bought when I was 21, for somewhere around 70-80k, needs remodeling, which I'm starting to do now, don't drive a brand new vehicle, don't have 10 credit cards. The point is, everyone that spends like that wants to put on this facade, at what cost? Being in debt for the rest of your life to live a certain lifestyle is NOT worth it. What are these people gonna leave for their kids but bills?

As far as the guy driving an M5, lots of those fellows have been know to "supplement their income", if you know what I mean, around here it happens alot. I'm on a major drug highway, cocaine is heavy in this area, lots of people selling that crap. Hard to find women that don't do coke or meth around here; REALLY fuckin' pathetic...


EDIT: laughing my ass off at the Butthead quote, brought back some funny memories.

 

[iGro4Me]

Just as a point of reference (not that I fully agree with it) our economy, the global economy in fact, is driven by American consumerism...

Just throwin it out there...

 

[BudGood]

And by debt, don't forget that part.

 

[iGro4Me]

And by debt, don't forget that part.

That's the "not agreeing with" part

 

[Mad Logistics]

what do you mean by "cash rich" ?

 

[EvilSkuzzi]

9 out of 10 Americans are up to their necks in credit card debt or under water....the sentiment expressed in this thread is an indication of what is going to happen for the ten ~ 15 years, namely, there's a major change in the mindless consumerism that took place over the past 10 ten years, everyone will be more conservative and will be actively trying pay off debt and actually try to save. This is bad news for the world economy that have relied on the USA's buying power..now that will ease off, going by what happened in the past (and history repeats) we will see a major world war within 5 ~ 10 years.

God, your cheery!

 

[EvilSkuzzi]

I am currently the most cash rich ive ever been in my life. To me it’s great, to some else, they'd probs think im poor lol. It’s all perspective.

 

[oldbongwater]

Gold is real money..paper and plastic is shit

Gold is real money..paper and plastic is shit

With the current economic downturn and Obama spending and printing more money than we or anyone has..only one thing can happen..inflation..or even worse..stagnation. Which basically means the dollar will be worth less and less. I took the majority of the liquid cash on hand and bought GOLD, real money. The more the dollar devalues..the more gold will go up. Paper is paper and you can print more and more..gold is real money and i have not seen anyone printing any of that lately. If you took $20 in 1933 and put it into a drawer alongside of a $20 gold piece, and waited until right now and pulled it out, the $20 bill would be worth $20..on the other hand the $20 gold piece would be worth about $1000. Think about that for a minute. Credit cards have had detrimental effects for millions of people, and have caused a multitude of problems. Saving money when possible..and not getting in debt up to your eyeballs is not easily done..but not impossible. Use your head and think about what you are doing before running out and impulsively buying garbage you really do not need. Common sense is not so common.
ob

 

[norcalsmoker]

oldbongwater you are correct gold and (dirt)land is like gold they both go up and down. Land may go down but when time comes land will still be around.

 

[hunt4genetics]

what do you mean by "cash rich" ?

For me the term "Cash Rich" means having no debt. If you have debt, it is a home mortage, and or student loans. Not being a mindless spender. basically someone who is smart with their money. A person who saved and now is liquid enough to take advantage of such unthinkable deals in this weak economy.

Peace.

 

[EvilSkuzzi]

Yeah ive got loads of debt, but i can easily afford it and im cash rich.

 

[kaotic]

One more thing, money does grow on trees...

 

[whiterabbit9]

Poor student... sucks
^^
Especially in this western world

it's okay... it's my last year of college, i'm gonna succeed, and after that..
I am gonna make money and save it


some have way more then they would know what to do with it

and some are struggling hard