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15 Feb ’12
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With the economy the way it is, what do you guys think are some good investment vehicles to be utilizing right now?
As a business owner our health insurance options really suck. Plus the fact that Maine only has 3 insurance providers we pay pretty high premiums. When we started our business we went with the cheapest plan we could get which was 500 a month with a 15,000 deductible and 80/20 after that. We basically looked at it as catastrophic insurance.
Well Halloween 2008 our daughters appendix ruptured and she spent over a week in the hospital. Our out of pocket charges was over 20,000 dollars. Luckily the only bill we have besides our household bills is my wifes car payment so we have been paying 500 a month for the last 4 years to pay off my daughters medical bills. That bill will be finally payed off next month which will free us up that money on a monthly basis.
So if you had 500 a month to invest, where would you put it?
15 Feb ’12
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Probably land. Ive had an IRA for years and Ive never seen anything positive happen with it. Its like a savings account. Then again I hate gambling or taking risks with money. Land just seems like a sure thing.
21 Feb ’12
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With such a amount I think I would start 2-3 entrepreneurial small to State sized businesses that are off the radar until established.
For instance a canned food line, simple and uses excess supplies already being produced. If the products do not move no worries your family will still eat them.
After 6 months to a year look at the 3 businesses and see which one is doing the best and would work even better with the cash influx being given to the other two.
Small business should be like making popcorn. Some of the Kernels will pop and others will not. Do not overly invest in anything beyond your own direct control.
In my opinion land especially in North America will see a further drop in value over the next 5 years. Unless you are like the guy who owns Facebook and pays 1% for his 6 million dollar home to the bank you will not see very large profits over the next ten years. Although Vapor is correct in the fact that they are not making anymore of it, so it is a limited product at least.
Also try and focus on specialty items. For instance anyone can sell beef but one more step and you have Jerky, Corned Beef or Pastrami. Everyone sells carrots but not everyone sells candy cane carrots.
Or you could look at putting together a group of folks who make a holding company and start buying up blocks at a time of Detroit. After two to three years you have a few blocks controlled even at 1k a month going into the project. Then go to the bank when the Holding Company hits 3-5 years in business and start taking higher risk(s) buying up more blocks if things have not recovered.
Things get worse no worries as the Holding Firm can simply write off the losses and the members can use that loss to offset taxes. Game the game.
15 Feb ’12
Offline
With such a amount I think I would start 2-3 entrepreneurial small to State sized businesses that are off the radar until established.
For instance a canned food line, simple and uses excess supplies already being produced. If the products do not move no worries your family will still eat them.
After 6 months to a year look at the 3 businesses and see which one is doing the best and would work even better with the cash influx being given to the other two.
Small business should be like making popcorn. Some of the Kernels will pop and others will not. Do not overly invest in anything beyond your own direct control.
In my opinion land especially in North America will see a further drop in value over the next 5 years. Unless you are like the guy who owns Facebook and pays 1% for his 6 million dollar home to the bank you will not see very large profits over the next ten years. Although Vapor is correct in the fact that they are not making anymore of it, so it is a limited product at least.
Also try and focus on specialty items. For instance anyone can sell beef but one more step and you have Jerky, Corned Beef or Pastrami. Everyone sells carrots but not everyone sells candy cane carrots.
Or you could look at putting together a group of folks who make a holding company and start buying up blocks at a time of Detroit. After two to three years you have a few blocks controlled even at 1k a month going into the project. Then go to the bank when the Holding Company hits 3-5 years in business and start taking higher risk(s) buying up more blocks if things have not recovered.
Things get worse no worries as the Holding Firm can simply write off the losses and the members can use that loss to offset taxes. Game the game.
some great business knowledge just got dropped here. Hess I'm going to shoot you a PM later on a idea I have. I think I know why you mention buying up blocks in detroit, for those who are thinking wtf, can you explain that
15 Feb ’12
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Probably land. Ive had an IRA for years and Ive never seen anything positive happen with it. Its like a savings account. Then again I hate gambling or taking risks with money. Land just seems like a sure thing.
I was thinking this, buy a lot a year and throw a cheap camp on it and resell it
15 Feb ’12
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what do you guys think of MLM? I have been approached by a friend who has joined a network and it sounds interesting
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