What to do?

[Anonymous]

[quote]I don’t want to consult a finacial adviser because I personally think most of them are ignorant and don’t know much more than anyone else on this form.[/quote]

I know of some guy that has an investment fund – his name is Rich or something like that – but if you think they are all ignorant, then I guess that doesn’t help.

[scaredyclassic]

Memories are dumb. The only thing we have is the present.

Look at a long list of ETF finds and pick 25 of them 10000 in each.

[all]

Get married and delegate the decision-making to your spouse.

[UCGal]

[quote=sdrealtor]I just saw your income on the other thread and you should definitely buy a house from me. I promise to spend all the money stimulating the economy. Think of all the good things I could do like

Take TG out for a night of debauchery

Buy scaredy a new bike

Get BG a 300K mile tune up on her Lexus

Take Allen elk hunting in Montana

Buy CAR enough stamps to send every congressman/woman and senator a letter.

Send Brian to SF so he can let his freak flag fly

Buy Desmond enough fire wood to survive a nother frigid Winter on the mountain top

Pay for UCGal’s RealtyTrac subscription so she can stay up to date on all the lastest foreclosure data

Unlimited Happy Meals for the Jacarandoso/Rusctico kids

Dinan chips for FLU’s cars

A 1 year subscription to Money magazine for Econ Prof

Buy JP seeds and fertilizer for the garden she has dreamed of for years

And not to forget me, buy myself a case of Dalla Valle

Really kev, dont be so selfish. We are all depending upon you (snark off)[/quote]

lol – Love it!

[BoomerAang]

[quote=walterwhite]hey, a new bike! yay! things are looking up for ol’ Gil.[/quote]

haha… haven’t seen a simpsons quote in a really long time…

[edna_mode]

@earlyretirement: is there someway to name your frequent flyer account as an asset to pass on to your descendants? I know British Airways allows householding of flyer accounts, but it would sure suck to die with X00,000 miles and not be able to pass that on.

With that in mind, realize that miles are another type of floating currency WHICH IS NOT PEGGED TO THE DOLLAR (unlike credit card “points” or Southwest’s “points” program). The accessibility of the miles to the flight you want, when you want it, is not guaranteed. British Airways is doing this right now with their program (go see thepointsguy.com if you want all the gory details)

So: earn miles and burn em as fast as you can, is my philosophy. Thus you must have vacation time, be able to plan far in advance to use the miles…or be comfortable burning the miles for non-flight stuff.

[earlyretirement]

[quote=edna_mode]@earlyretirement: is there someway to name your frequent flyer account as an asset to pass on to your descendants? I know British Airways allows householding of flyer accounts, but it would sure suck to die with X00,000 miles and not be able to pass that on.

With that in mind, realize that miles are another type of floating currency WHICH IS NOT PEGGED TO THE DOLLAR (unlike credit card “points” or Southwest’s “points” program). The accessibility of the miles to the flight you want, when you want it, is not guaranteed. British Airways is doing this right now with their program (go see thepointsguy.com if you want all the gory details)

So: earn miles and burn em as fast as you can, is my philosophy. Thus you must have vacation time, be able to plan far in advance to use the miles…or be comfortable burning the miles for non-flight stuff.[/quote]

Hi Edna,

To be honest, I’m not sure if American Airlines allows you to pass on miles to your heirs. I know some airlines do and some don’t. I just read an article on this subject not long ago here:

http://www.forbes.com/sites/janetnovack/2011/07/13/how-to-pass-on-your-frequent-flyer-miles/

I think a good strategy is to just make sure your family has your username/frequent flyer # and password to your account. I typically book my awards online for my family members typically bypassing any agents on the phone unless the itinerary is complicated. And then they email tickets so it would be a good idea to leave your password to your email account too.

You can always go to http://www.flyertalk.com/forum/american-aadvantage-445/ and I’m sure the answer is there. Those guys know EVERYTHING there is to know about the American Airlines AAdvantage program.

I agree with your strategy to burn miles as many miles as you can. I try to burn through as many miles as I can and it’s not difficult when you are traveling with a family of 4 or using them to upgrade. Still I have over a million miles sitting in my account that I’ll use for future flights. I’ve not had problems using them planning far enough ahead of time.

Also, I didn’t in any way want to try to say this was the best ROI. Not by a long shot. Only for those that have cash sitting around that don’t want to enter the stock market, don’t want to put them in riskier type investments or major purchase like real estate.

For those that have cash sitting around that they don’t want to roll over into another low paying CD, I’ve found it great and manage to get a great ROI with how I use them.

Good luck.

[moneymaker]

Don’t put it in stocks, not yet anyway
Don’t gamble it away
Don’t spend it on women
Don’t buy gold or silver
Don’t keep it @ home
Don’t invest in a business that might fail
Don’t buy a brand new car
Don’t, please don’t give it to a politician
Beyond that I guess you can pretty much do with it as you want.

[sdduuuude]

I’d consider some hedge funds, or managed funds where you put your money in and let someone else trade it. They can’t access the money except to trade it and they take a small percentage of the funds in your account on a daily basis (such that it is about 1% a year).

If the min investments are small enough, split up the money between several of them.

Consider selling short European banks.

Definitely don’t buy a house from sdr cuz I’m not geeting a damn thing.

[Huckleberry]

Pablo & EconProf

Do either of you know of any conservative hard money lender’s you can refer based on good experiences?

Would like to look further into this but when Googling for local firms, many websites look pretty cheesy and send red flags of potential fraud…

[UCGal]

[quote=sdduuuude]
Definitely don’t buy a house from sdr cuz I’m not geeting a damn thing.[/quote]

Seriously – he should have offered you and CDMA engineer wine and robot parts!

[sdrealtor]

[quote=sdduuuude]I’d consider some hedge funds, or managed funds where you put your money in and let someone else trade it. They can’t access the money except to trade it and they take a small percentage of the funds in your account on a daily basis (such that it is about 1% a year).

If the min investments are small enough, split up the money between several of them.

Consider selling short European banks.

Definitely don’t buy a house from sdr cuz I’m not geeting a damn thing.[/quote]

Sorry for the glaring ommission. The new battlebot will be funded by Team Piggington as well!

[earlyretirement]

[quote=Huckleberry]Pablo & EconProf

Do either of you know of any conservative hard money lender’s you can refer based on good experiences?

Would like to look further into this but when Googling for local firms, many websites look pretty cheesy and send red flags of potential fraud…[/quote]

The plain truth is that anything/anyone paying out amazing returns will have some element of higher risk to it. Only you can decide if the risk/reward ratio is worth it to you. But I’ve seen many people over the years promise great returns and “low/no risk” and that just wasn’t true.

So just keep that in mind.

[Author]

Posts