Need Investment advice

SonicGerm · 11-07-2008, 01:34 PM

Hello everybody,.... (hello Doctor Nick)

Anyway I have 20k just chillin in my savings account. I could payoff my car with it. I only owe 15K but I feel I should invest it in a CD or something. I have a mutual fund and IRA but lately they have hit the shit. I'm just seeing what advice my forum brothers have for me.

Thanks.

Tondtar · 11-07-2008, 01:39 PM

Being debt free is the best investment these days.

I say pay off the car and invest the rest buying beaten down stocks which is sure to make a rebound in the near future - like CSCO

txusa03 · 11-07-2008, 01:43 PM

not an advice nor am I expert but someone told me dont let this market scare you, this is really a time to buy buy and buy

ADHD · 11-07-2008, 01:44 PM

Pay off your DEBT!!!!! THat should be the first thing everyone should be doing right know!!

RMA · 11-07-2008, 02:00 PM

Only if your debt is a non-interest fee loan that is

sinnet112 · 11-07-2008, 02:35 PM

Pay off at least part of the 15K, then put the rest into a short-term CD (6-months is about right). GMAC's offering one at 4.00% APY which is not bad at all (and it's FDIC insured so even if they do go under, you'll be fine).

http://gmacbank.com/todays-rates/cd-rates.html

In 6 months time, take it out and then invest it in these markets. I have a feeling they'll be even more battered down then than now. No point in going in when it's just going to get worse.

MJC///M3 · 11-07-2008, 02:41 PM

You can play a few options (if you know how to trade them)....throw in a few december puts on XLF (financial sector index)....mabye turn yourself a nice little profit.
If your not into equity speculation...I'd say pay off your debt for now, market has yet to hit bottom....only way i'd invest in market now...is short sell. (you may get an occasional rally, but overall trends are still pointing lower).

Brunotheboxer · 11-07-2008, 02:52 PM

I would either invest it into property or the stock market. This is a great time to buy if you are in for the long haul.

Spec 1 · 11-12-2008, 07:48 PM

I'm an insurance and banking advisor working for my licenses in financial advising. Good practice is to leave yourself enough to fall back on in your savings account (rule of thumb is at least 3 months income), apply a good chunk of your remainder towards your debt, and talk to an advisor to get some money into the market. It's great that you've got both the mutual funds and 401k going. CD's are relatively (well, very) conservative investments vs stocks being highly volatile right now. If you're investing for less then 5 years, throw it into CD's. If you're investing for 10+ years, throw money into the market now, it's a great time to buy.

LACSTER · 11-12-2008, 08:32 PM

Bcome a hard money lender and charge 20% interest.

kgb1637 · 11-12-2008, 08:51 PM

Sinnet112 hit it on the head. Use those CD's, especially the 6 month ones. You'll gain at least twice the interest and if you're not spending it, might as well make as much as you can. I'm still skeptical of buying, buying stocks right now. Still space for it to still fall plenty.

BaLLzZz · 11-12-2008, 10:34 PM

In my case i would pay 10k off leaving my loan too 5k + interest put 5k into 6 month CD and play with the remaining 5k in the current market. But that's just me...

jdink · 11-13-2008, 12:42 AM

To answer this question we need to know what % you are paying on your car loan.

mpimping · 11-13-2008, 12:49 AM

Quote:

Originally Posted by 3BANGER

Bcome a hard money lender and charge 20% interest.

bad idea but you could double your money in card counting or poker in 2 years but you have to be good...

mpimping · 11-13-2008, 12:51 AM

or just put it all on google

Rick · 11-13-2008, 12:55 AM

Now might be a good time to put some money in the market, there still might be some downside though. GE closed at $16.29 today but it's a solid company IMHO!!

BaLLzZz · 11-13-2008, 02:25 AM

Im thinking of getting some GM stock very soon

its ray den · 11-13-2008, 08:36 AM

you think they're going to get bailed out by the govt?

BaLLzZz · 11-13-2008, 12:59 PM

Quote:

Originally Posted by its ray den

you think they're going to get bailed out by the govt?

I think so because they control at least 15% of all jobs int he usa. I really dont think the govt can handle a loss of 15% of the whole working force. But im no professional yet

Laser McCool · 11-13-2008, 01:15 PM

GM wont get the bailout.. IF I were you, I would sink a few thousand in CITI (c) its at 8.45 right now. that is a STEAL!! its 52 week was 37.50 and they did not participate in any of the lax lending guidelines of other banks over the years. I also like VISA at 50 dollars a share

Spec 1 · 11-13-2008, 02:42 PM

/\ To add to that Metlife is very low, I think in the $10-15/share range right now, but it should easily get back up to $60/share over the next two years.

HLDC11 · 11-13-2008, 03:52 PM

cash is king!

11-07-2008, 01:34 PM	#1
SonicGerm Master Shake 22 Rep 177 Posts Drives: 2016 BMW X1 Join Date: Apr 2008 Location: Colorado iTrader: (0)	Need Investment advice Hello everybody,.... (hello Doctor Nick) Anyway I have 20k just chillin in my savings account. I could payoff my car with it. I only owe 15K but I feel I should invest it in a CD or something. I have a mutual fund and IRA but lately they have hit the shit. I'm just seeing what advice my forum brothers have for me. Thanks.
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11-07-2008, 01:39 PM	#2
Tondtar 12 yr old Juvie 1137 Rep 881 Posts Drives: His Mom Crazy Join Date: Apr 2008 Location: El Lay iTrader: (2) Garage List 2008 (RIP in 2011) ... [0.00]	Being debt free is the best investment these days. I say pay off the car and invest the rest buying beaten down stocks which is sure to make a rebound in the near future - like CSCO
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11-07-2008, 01:43 PM	#3
txusa03 Major General 579 Rep 6,563 Posts Drives: TS330iPPSP6MT Join Date: Jul 2005 Location: Planet Earth iTrader: (3)	not an advice nor am I expert but someone told me dont let this market scare you, this is really a time to buy buy and buy __________________ under construction!
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11-07-2008, 01:44 PM	#4
ADHD Brigadier General 252 Rep 4,201 Posts Drives: F30 328i Join Date: Apr 2006 Location: Magic Mountain iTrader: (38) Garage List 21 M540i [0.00] 07 e90 335 [0.00]	Pay off your DEBT!!!!! THat should be the first thing everyone should be doing right know!! __________________
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11-07-2008, 02:00 PM	#5
RMA Major 41 Rep 1,015 Posts Drives: 2009 135i M sport coupe Join Date: Jul 2008 Location: Tampa, Fl iTrader: (6) Garage List 2009 135i M sport c ... [0.00]	Only if your debt is a non-interest fee loan that is __________________
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11-07-2008, 02:35 PM	#6
sinnet112 Major 31 Rep 1,118 Posts Drives: 2009 E89 Z4 Join Date: Dec 2006 Location: NJ iTrader: (1) Garage List 2007 335i Coupe [0.00] 2007 328xi Sedan [0.00]	Pay off at least part of the 15K, then put the rest into a short-term CD (6-months is about right). GMAC's offering one at 4.00% APY which is not bad at all (and it's FDIC insured so even if they do go under, you'll be fine). http://gmacbank.com/todays-rates/cd-rates.html In 6 months time, take it out and then invest it in these markets. I have a feeling they'll be even more battered down then than now. No point in going in when it's just going to get worse. __________________ Z4 sdrive30i \| Deep Sea Blue \| Ivory White Nappa Extended Leather \| ZSP
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11-07-2008, 02:41 PM	#7
MJC///M3 Colonel 91 Rep 2,323 Posts Drives: 09 SSII E92 M3 Join Date: Aug 2008 Location: Bronx, NYC iTrader: (0)	You can play a few options (if you know how to trade them)....throw in a few december puts on XLF (financial sector index)....mabye turn yourself a nice little profit. If your not into equity speculation...I'd say pay off your debt for now, market has yet to hit bottom....only way i'd invest in market now...is short sell. (you may get an occasional rally, but overall trends are still pointing lower). __________________ "You will get there, but it is up to you and you alone. It is what you are willing to do, and how you are willing to get there. You must be relentless, you must be tireless, you must pursue at all costs, so that you are ready, when the time is right." -Dad
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11-07-2008, 02:52 PM	#8
Brunotheboxer Colonel 399 Rep 2,984 Posts Drives: 2014 Shelby GT500. Join Date: Jan 2006 Location: Boston/Cape Cod iTrader: (0)	I would either invest it into property or the stock market. This is a great time to buy if you are in for the long haul. __________________ "...I maybe drunk, but you're ugly, and I can sober up..."
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11-12-2008, 07:48 PM	#9
Spec 1 Faster in the Corners 58 Rep 1,062 Posts Drives: '91 E30, '05 ZX6-R, '06 300C Join Date: Jul 2008 Location: Portland, OR iTrader: (0)	I'm an insurance and banking advisor working for my licenses in financial advising. Good practice is to leave yourself enough to fall back on in your savings account (rule of thumb is at least 3 months income), apply a good chunk of your remainder towards your debt, and talk to an advisor to get some money into the market. It's great that you've got both the mutual funds and 401k going. CD's are relatively (well, very) conservative investments vs stocks being highly volatile right now. If you're investing for less then 5 years, throw it into CD's. If you're investing for 10+ years, throw money into the market now, it's a great time to buy. __________________ '91 M42 E30 - All sorts of goodies.
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11-12-2008, 08:32 PM	#10
LACSTER Major General 782 Rep 8,279 Posts Drives: Hybrid Join Date: Nov 2007 Location: oc iTrader: (64)	Bcome a hard money lender and charge 20% interest.
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11-12-2008, 08:51 PM	#11
kgb1637 Lieutenant Colonel 21 Rep 1,519 Posts Drives: RS5 Join Date: Sep 2008 Location: Baltimore, MD iTrader: (0)	Sinnet112 hit it on the head. Use those CD's, especially the 6 month ones. You'll gain at least twice the interest and if you're not spending it, might as well make as much as you can. I'm still skeptical of buying, buying stocks right now. Still space for it to still fall plenty.
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11-12-2008, 10:34 PM	#12
BaLLzZz Colonel 128 Rep 2,298 Posts Drives: e92 335i Join Date: Aug 2007 Location: NYC iTrader: (5)	In my case i would pay 10k off leaving my loan too 5k + interest put 5k into 6 month CD and play with the remaining 5k in the current market. But that's just me... __________________ Any intelligent fool can make things bigger, more complex, and more violent. It takes a touch of genius and a lot of courage to move in the opposite direction. - Albert Einstein 01 e46 m54 - Current : 14 f10 n26 - Boring & Gone : 15 f30 n26 - Current : 08 e92 n54 - Gone & Missed!!!
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11-13-2008, 12:42 AM	#13
jdink Major 53 Rep 1,332 Posts Drives: '08 E90 335i 6MT Join Date: Jan 2008 Location: Portland, OR iTrader: (0)	To answer this question we need to know what % you are paying on your car loan. __________________
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11-13-2008, 12:51 AM	#15
mpimping Banned 867 Rep 336 Posts Drives: gti Join Date: Sep 2006 Location: ny,ny iTrader: (0)	or just put it all on google
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11-13-2008, 12:55 AM	#16
Rick Stackin' Chips 173 Rep 608 Posts Drives: 2008 AW M3 Coupe Join Date: Jan 2008 Location: Santa Monica, CA iTrader: (2)	Now might be a good time to put some money in the market, there still might be some downside though. GE closed at $16.29 today but it's a solid company IMHO!! __________________
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11-13-2008, 02:25 AM	#17
BaLLzZz Colonel 128 Rep 2,298 Posts Drives: e92 335i Join Date: Aug 2007 Location: NYC iTrader: (5)	Im thinking of getting some GM stock very soon __________________ Any intelligent fool can make things bigger, more complex, and more violent. It takes a touch of genius and a lot of courage to move in the opposite direction. - Albert Einstein 01 e46 m54 - Current : 14 f10 n26 - Boring & Gone : 15 f30 n26 - Current : 08 e92 n54 - Gone & Missed!!!
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11-13-2008, 08:36 AM	#18
its ray den Second Lieutenant 4 Rep 205 Posts Drives: 2004 Mazda6s Join Date: Aug 2007 Location: NY iTrader: (0)	you think they're going to get bailed out by the govt?
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11-13-2008, 01:15 PM	#20
Laser McCool Enlisted Member 15 Rep 31 Posts Drives: e46 Join Date: Nov 2008 Location: MD iTrader: (0)	GM wont get the bailout.. IF I were you, I would sink a few thousand in CITI (c) its at 8.45 right now. that is a STEAL!! its 52 week was 37.50 and they did not participate in any of the lax lending guidelines of other banks over the years. I also like VISA at 50 dollars a share __________________
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11-13-2008, 02:42 PM	#21
Spec 1 Faster in the Corners 58 Rep 1,062 Posts Drives: '91 E30, '05 ZX6-R, '06 300C Join Date: Jul 2008 Location: Portland, OR iTrader: (0)	/\ To add to that Metlife is very low, I think in the $10-15/share range right now, but it should easily get back up to $60/share over the next two years. __________________ '91 M42 E30 - All sorts of goodies.
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11-13-2008, 03:52 PM	#22
HLDC11 Private First Class 11 Rep 132 Posts Drives: 330i Join Date: Nov 2007 Location: NYC iTrader: (0)	cash is king!
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