Tuesday, April 19th, 2016

Money question for the Susan Orman Type?

This is a question for the guru? Financial s ah?, Also? N known as Susan Orman tipo.Hace three to? You took me to court for a lawsuit fr? Vola. Although not lost? from the viewpoint? No, the legal battle did he eat? through? s of my finances, as the? acid. Pas? a net worth 80K to put everything behind 0.Decidido? s of me, I started? everyone everywhere. In two years, you my net worth pas? 0 to 30K. Here? est? financiera.21k Portfolio in shares of strong banks. Strong words, those banks that have survived and prosperado.9K f? Oro.Creo bullion music that also? No I have 3k in a saving plan empresa.Adem? S I have about 40K in credence available for me?. but my career has been quite lucrative for me?, like me? to plan an exit strategy. I love my job, but I hate my schedule. I like the area and the apartment we live like me? To start investing a little more? S aggressive maybe I can move to another city. This is what I think my options are: 1. Working with family members or other investors confidence to buy distressed real estate for alquiler.2 income. uses about 10k of my card credence to begin the d? to the comercio.3. Working with family members or other investors confidence to pursue a cafeteria to social and / or bar jugos.4. Works with friends to start a business part-time repair? No computer and phone? Celulares.5 phones. nothing changes and diff? easy to be a little more? s, and try to save up to 70K? Qu? do you think? ? What? har? as?

Comments

2 Responses to “Money question for the Susan Orman Type?”
  1. David M says:

    Your thoughts and my thoughts:

    1. Work with family members or other trusted investors to buy distressed real estate for rental income.
    If you’re good at real estate and are reasonably hnd with the ability to fix up properties this could be a good idea for you.

    2. use about 10k of my credit to start day trading.
    Day trading is glorified gambling. You have as much of a chance of losing money as making any. Not a good strategy for long term reliable income.

    3. Work with family members or other trusted investors to start a social coffee shop and or juice bar.
    You’ll put more time into a job like this than a regular job. You also better have a good business plan and good start up capital. If you do your home work and are willing to work hard this could work.

    4. Works with friends to start a part time business repairing computers and cell phones.
    Same as above. If you’re qualified to fix computers and phones, have a good business plan and enough start up capital you might do very well.

    5. change nothing and tough it out a bit longer, and try to save up to 70K
    The most conservative idea.

    Whatever you do, good luck.

  2. John W says:

    I was in your situation about 5 years ago and I’ve been doing some things you are suggesting. Only a couple of years left in my current job. Here’s my take on your questions:

    1. I just started doing this. Not a bad idea. Make sure any profit projections you make are based on the rental income you can generate. If you can make a profit on the rental income then it’s potentially good opportunity. Do not buy the properties where the only way you can make money is if the property appreciates in price. You can’t count on price appreciation as a sure thing. I would also recommend buying your properties in cash (or as close to it as you can). If you can only afford to to this by borrowing a lot of money on the properties, then don’t do it.

    2. Don’t borrow or use credit to trade stocks – don’t even trade on margin. I make as much money trading stocks (and options) as I do in my “regular” job. Don’t day trade. Develop a strategy that you fully understand and then practice that strategy through “paper” trading until you can prove that it’s successfull.

    3. It depends on your specific marketplace and the demand in that area for the business. It this type of business is a passion for you then take a good hard look at doing it.

    4. I like this one. Low start up cost and not much upfront capital required to get started. If this fails your risk is pretty limited.

    5. It depends on how much you hate your current schedule. If time permits, it would be good if you can gradually start some of your other ideas while still having the income from your current job.

    Also, be careful about having family members as business partners. It works sometimes, but an absolute mess when it fails. I recently had a family member who is aware of what I make trading stocks ask me to trade their portfolio for them. I said no way – I trust what I do, but I don’t want the added responsibility/pressure of managing someone else’s money.

    I like the goals you are setting. Good Luck.

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