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Return of the "What do I do with $XX,000 question?" we love to hate

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rated:
The original has been consigned irrevocably to the archives so I'm bringing it back here so we can keep things up to date.




There are several resources available to help you find the highest interest rates:


However there's usually more to this question than simply finding the best bank rate. People enjoy being creative with their money and who are we to stop them?

There has been plenty of creativity to go around:

46c - DamnoIT said: Collect 4 cents, buy a Coke and a Smile


$500 - exigent said: Buy a lawn mower and a can of gas. Start knocking on doors in your neighborhood and offer to mow their lawn for $XX.XX (obviously, the price depends on your locale and the size of the lawn). Buy more gas. Repeat.
fatcool said: If you have below 500$ in hand. Buy some clearance paint cans from Sears at 10.00 around.
100$ Buy one of those as seen on TV ladders from Sears that fit in your trunk for 169$. Buy 3 Wagner power roller for 30$. Pick up two guys from Laborready at 100$ per day. Offer them extra 40$ if they finish the job the same day.
Walk to few small homes offer to paint exterior for 900$ in one day. Get done in 6 hours or less and make 500 profit on the spot.

inventme said: Start an eBay business selling homemade crafts from people in the neighborhood (flies, jigs, etc. for fishing). Go to local Salvation Army or similar store and buy cheap donated furniture that you take, reupholster with fabric store stuff, and sell for profit. Do a window washing business for homeowners/small businesses @ $5-$10 a window.
ilovecoffee said: For anyone with 500.xx Why not open an account at scottrade.com (min. amt. req. to open an accnt. is 500 USD) and buy some commodities, or stock at a 5 yr low . your earnings will probably be modest, but you never know. and remember with all these ventures, there is always the chance of losing money.


$1000 - inventme said: I'm not suggesting you do this officially, but say one purchased an MSDN license and then sold software installations to friends and family for $50-$100 a pop. MSDN subscription runs $1k a year (I think) and you get 10 installations per program per license. Again, I'm not sure of the legality of this, just brainstorming.


$2000 - inventme said: Buy some lawnmowers and weedwackers, hire neighborhood kids, and farm them out to mow lawns. Contact real estate agencies & banks and provide cleanup services for repo-ed properties or yard maintenance for current listed properties.


$5000 - Oakley087 said: Another idea is flipping cars for a profit at the under $5000 mark.
inventme said: Start a traveling spyware cleanup business or paper shredding business.


$20,000 - exigent said: Buy a totally pimped out Honda Civic and drag race for dollars.
inventme said: Buy a tropical ice or java shack and setup shop in front of WalMart.


$100,000 - inventme said: Dumping or moving service


$250,000 - gnhcxr said: I was just about to start a UPS store business with about $200k capital.
inventme said: Do the K-Mart thing. What's that? Look at the guy bought K-Mart while it was in bankruptcy. He got it on the cheap and now is just cash flowing the sucker (~2B a year) by streamlining its operations, minimizing inventory, etc. Basically, find a business for sale with poor cash flow numbers. You'll usually find that the owner has been bleeding it by wasting money on stupid expenditures. Buy it and make it effecient to get a year or two of good cashflow. This will bring your sales price multiple way up and will usually net you $50-$200k.


$1,000,000 - inventme said: Invest in the commodity index. Demand for raw materials is just going to keep rising with undeveloped countries coming on line and getting to where the US is. Also, farm land is disappearing to expansion and with the crazy weather happening due to global warming, we're in for some good crop loss IMHO.


$2,000,000 - inventme said: Sit on a 5% CD and live off a 100k a year salary.

Let's see what other ideas you can come up with. As always I'll take the ones I like and add them here. And remember, if you need extra help in deploying your capital, I am available at my customary professional rate to assist you

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rated:
If I had some extra money, I'd buy brianbrianbrian and kevinkevinkevin a life.

rated:
Thanks for restarting this, you are quite observant!

Here is my predicament which was posed in a thread I started since this thread was archived:

1 Million from a trust, 300k in capital gains, managed by Vanguard group with current yield of 2.11% and estimated annual income of 22k.
Was thinking of pulling it out and taking the tax hit now rather than later so that I can put it into something with a better return if it exists. Looking for advice.

rated:
bdoubt said: Thanks for restarting this, you are quite observant!

Here is my predicament which was posed in a thread I started since this thread was archived:

1 Million from a trust, 300k in capital gains, managed by Vanguard group with current yield of 2.11% and estimated annual income of 22k.
Was thinking of pulling it out and taking the tax hit now rather than later so that I can put it into something with a better return if it exists. Looking for advice.


This was stated in your original thread but I don't think you're understanding. Your yield is not the same as your return, it's only part of the return. Do some research and find out what the actual return is. Now is a great time to reallocate your portfolio to take advantage of the low capital gains rates, but if you can't differentiate yield and return, you'd be much better off RESEARCHING and reading up on investing before haphazardly moving money around because you 'think' it's not doing well, when in reality it might be just fine.

Also, since this is likely in a taxable account, 20k of distributions a year is great for saving money in taxes. If you were in other funds you'd be paying taxes on much, much larger distributions.

rated:
richfish13 said: If I had some extra money, I'd buy brianbrianbrian and kevinkevinkevin a life.

All you need is a quarter for that....and that'll buy both of them a life.

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