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What would you do with an extra 300k ?

Everythings paid for concerning today, yesterday, and the future. No mortgage, kids education is paid for, etc., etc. It's not money you want to spend. You just want to put it in a safe place. You don't want high risk. Your main concern is safety, and to keep it out of the hands of those who can rob you. You want to avoid the Bernie Madoff's of the world.

What is your approach (broken into percentages if possible). I'm looking for people's responses who are in the
20-30% gold allocation, and then 70-80% somewhere else. Thanks.




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Comments

  • derrybderryb Posts: 37,610 ✭✭✭✭✭
    put $100K in gold eagles in safe deposit boxes at three different credit unions or invest it in farmland. I'd wait for more indication of gold price movement before I bought the eagles. You might get them on the cheap.

    No Way Out: Stimulus and Money Printing Are the Only Path Left

  • secondrepublicsecondrepublic Posts: 2,619 ✭✭✭
    I would allocate $50k to precious metals, another $150k to $175k to buying a good rental property or land which will provide an income stream, and keep the rest in a savings account.
    "Men who had never shown any ability to make or increase fortunes for themselves abounded in brilliant plans for creating and increasing wealth for the country at large." Fiat Money Inflation in France, Andrew Dickson White (1912)
  • tydyetydye Posts: 3,894 ✭✭✭
    I would buy land
  • guitarwesguitarwes Posts: 9,290 ✭✭✭


    << <i>I would allocate $50k to precious metals, another $150k to $175k to buying a good rental property or land which will provide an income stream, and keep the rest in a savings account. >>



    Agree on all parts. Good paid for real estate is the way to go with a cushon in the bank for other stuff. Around here, 3- $50k rentals can bring in $18000-$21600/year in rent. A much better return than at the bank.

    @ Elite CNC Routing & Woodworks on Facebook. Check out my work.
    Too many positive BST transactions with too many members to list.
  • piecesofmepiecesofme Posts: 6,669 ✭✭✭
    First, I would consider myself to be blessed to be in such a position and I would make an appropriate sized donation to my church and/or cause that I care about.
    After doing that, then that's what I would consider to be what I would be starting with.

    Being that this money is extra (I take that to be money that I do not have to depend on whatsoever), I would buy some decent properties that I would rent out, with apx. 60% of what was left from my previous mentioned donation.

    Next, with about 35% I would buy all the Silver that I could on a discount. I would be extremely strict with myself that I would only buy deals...not buying just to be buying.

    With the last 5%, I would take a very nice vacation because I deserve it lol.
    To forgive is to free a prisoner, and to discover that prisoner was you.
  • JustacommemanJustacommeman Posts: 22,852 ✭✭✭✭✭
    How old is this person with the extra 300k? Where does he live? Urban? Country? City? What is this persons goal with the money? Growth? Income? What is his risk appetite? ( It's noted he wants it safe, but just how safe?)

    MJ
    Walker Proof Digital Album
    Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
  • derrybderryb Posts: 37,610 ✭✭✭✭✭
    question is what would YOU do with an extra 300k.

    No Way Out: Stimulus and Money Printing Are the Only Path Left

  • JustacommemanJustacommeman Posts: 22,852 ✭✭✭✭✭
    ah!!!!! Must be the meds Derry..........

    First off there are very very few places to hide. Especially land if you don't have the experience.

    portfolio A for balance with some time on their side

    60k gold bullion-----medium risk as an investment but has the added benefit of financial insurance
    20k silver bullion----super high risk as an investment. Offers little benefit of financial insurance
    100K cash equivalents for the time being ( I still like some of the anti dollar currencies but dollars are ok). low risk, low reward
    90k in the stock market. There are several things being sold at a steep discount. med risk, med reward
    30K in bonds. There are some munis I really like.

    portfolio B for those who want nothing to do with Wall St and want lower risk

    75k in gold
    25K in silver
    175k in cash equivalents

    portfolio C for those who actually have experience with rental properties/land and is afraid of Wall St

    75k in gold
    75k in cash ( ask anyone who has owned rental property on why)
    150k in rental property or land
    Walker Proof Digital Album
    Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
  • johnny9434johnny9434 Posts: 29,160 ✭✭✭✭✭
    I'd buy gold and land.
  • "30K in bonds. There are some munis I really like"



    No offense, but a person would have to be soft in the head to purchase municipal bonds. Just wait until the 1st major city files for, and is granted chapter 13.

    And this is coming from a municipal worker who KNOWS that city/state financials are now beyond repair.
  • JustacommemanJustacommeman Posts: 22,852 ✭✭✭✭✭


    << <i>"30K in bonds. There are some munis I really like"



    No offense, but a person would have to be soft in the head to purchase municipal bonds. Just wait until the 1st major city files for, and is granted chapter 13.

    And this is coming from a municipal worker who KNOWS that city/state financials are now beyond repair. >>



    Coming from you I wouldn't take any offense. All muni bonds are not created equal. Then again, I wouldn't expect you to know this.

    PS- If you decide to respond to the question please feel free to include a Corvette (third car) and a small weekend getaway place with no land close to a lake as a percentage of your 300k.

    FYI- my muni bonds example which only represented 10% of the port is for a "Water" bond with a 2.9% yield with 48 months until maturity. I rate the sleeping weight safety of this particular bond at 99.9%.

    MJ
    Walker Proof Digital Album
    Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
  • BaleyBaley Posts: 22,663 ✭✭✭✭✭
    I think it's funny that you ask what "I" would do with it, and then go on to explain that "I" have no financial worries, yet then frame how "I" feel about safety and risk for this particular $$ (i.e. scared).

    Well, that said, I'd put $100K in my checking account, $100K in my savings account, and $100K in a money market fund.

    Freed from the restrictions of your post, I'd split the money equally among rental real estate, biotech stocks, certified pre-1808 US coins, and home and lifestyle improvements (pool, new car, etc)

    Liberty: Parent of Science & Industry

  • pursuitoflibertypursuitofliberty Posts: 7,271 ✭✭✭✭✭
    Tough question because the conditions don't fit for me.

    However, I would consider this under those situations, although I might reconsider amounts further;

    30.K physical gold (would probably not go all-in, but make three to five purchases)
    30.K physical silver (same as above)
    40.K cash (5.K with the PM's and 25.K in the bank)
    40.K dividend paying securities
    40.K 3-5 year maturing corporate bonds (NOT the same companies as I had stock in)
    120.K income producing real estate

    “We are only their care-takers,” he posed, “if we take good care of them, then centuries from now they may still be here … ”

    Todd - BHNC #242


  • << <i>

    << <i>"30K in bonds. There are some munis I really like"



    No offense, but a person would have to be soft in the head to purchase municipal bonds. Just wait until the 1st major city files for, and is granted chapter 13.

    And this is coming from a municipal worker who KNOWS that city/state financials are now beyond repair. >>



    Coming from you I wouldn't take any offense. All muni bonds are not created equal. Then again, I wouldn't expect you to know this.

    PS- If you decide to respond to the question please feel free to include a Corvette (third car) and a small weekend getaway place with no land close to a lake as a percentage of your 300k.

    FYI- my muni bonds example which only represented 10% of the port is for a "Water" bond with a 2.9% yield with 48 months until maturity. I rate the sleeping weight safety of this particular bond at 99.9%.

    MJ >>





    So locking up $30,000 into a bond that returns less than the rate of inflation (in other words a loser) is a decent place to park a nice chunk of money? Now im VERY happy I dont take any financial advice from you!

    And whats wrong with buying a slightly used ( 5 yrs old/15,000 miles) vette for the same amount of money a new Camry would cost? It lost the lion's share of its value through depreciation BEFORE I bought it. Can one put a price on personal happiness? Or does every single financial decision made by a 36 year old have to be based on rate of return only?

    The summer get-a-way is a 3 minute walk to the largest lake in the association by the way. Not exactly ON the lake per say....but close enough to have justified its 30% asking price as compared to "on the lake" properties. image
  • BaleyBaley Posts: 22,663 ✭✭✭✭✭
    Heh, anyone want to do an analysis comparing the expected relative maintenance, repair, insurance, traffic ticket, and other costs on a 5 year old Corvette vs. a new Camry? image

    of course, as usual, the more expensive car is also more fun imageimage

    Liberty: Parent of Science & Industry



  • << <i>Heh, anyone want to do an analysis comparing the expected relative maintenance, repair, insurance, traffic ticket, and other costs on a 5 year old Corvette vs. a new Camry? image

    of course, as usual, the more expensive car is also more fun imageimage >>







    Duly noted Baley. But Im averaging about 3,500 miles/yr so far on the vette.....so maintenance/repair costs are basically non existant so far. Now wheres that piece of wood I had laying around???
  • JustacommemanJustacommeman Posts: 22,852 ✭✭✭✭✭


    << <i>

    << <i>

    << <i>"30K in bonds. There are some munis I really like"



    No offense, but a person would have to be soft in the head to purchase municipal bonds. Just wait until the 1st major city files for, and is granted chapter 13.

    And this is coming from a municipal worker who KNOWS that city/state financials are now beyond repair. >>



    Coming from you I wouldn't take any offense. All muni bonds are not created equal. Then again, I wouldn't expect you to know this.

    PS- If you decide to respond to the question please feel free to include a Corvette (third car) and a small weekend getaway place with no land close to a lake as a percentage of your 300k.

    FYI- my muni bonds example which only represented 10% of the port is for a "Water" bond with a 2.9% yield with 48 months until maturity. I rate the sleeping weight safety of this particular bond at 99.9%.

    MJ >>





    <So locking up $30,000 into a bond that returns less than the rate of inflation (in other words a loser) is a decent place to park a nice chunk of money? Now im VERY happy I dont take any financial advice from you!>

    So let's hear all of the investments in this 300k portfolio from you that will guarantee to keep principal and beat inflation PLUS do it safely. I'll check back later and give you a chance to GOOGLE. FYI- The 30k in bonds represented only 10% of the port. Do you understand how portfolios work? Seldom does everything move in the same direction which is by design.

    MJ

    Walker Proof Digital Album
    Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
  • Timbuk3Timbuk3 Posts: 11,658 ✭✭✭✭✭
    I would put 20% in gold, 10% in silver, and the remaining
    balance in short term (1yr) treasury's.
    Timbuk3
  • RedneckHBRedneckHB Posts: 19,658 ✭✭✭✭✭
    There are some EXCELLENT values in the muni market.

    Gecko, the munipalities problems can be fixed. Its called salary and benefit cuts. Be prepared.
    Excuses are tools of the ignorant

    Knowledge is the enemy of fear



  • << <i>There are some EXCELLENT values in the muni market.

    Gecko, the munipalities problems can be fixed. Its called salary and benefit cuts. Be prepared. >>




    How do you fix unfunded pension liabilities that by themselves could bankrupt the promising entities?
  • meluaufeetmeluaufeet Posts: 767 ✭✭✭
    I'd put it towards a bug-out property.
  • jmski52jmski52 Posts: 23,224 ✭✭✭✭✭
    Like Baley, I yearn to be freed from the constraints set forth in the rules of your question because I can't meet your 70%-80% somewhere else requirement.

    Traditionally, the classic way to protect against market risk is to diversify across asset classes.

    As MJ noted, there aren't alot of places to hide. I like real estate in some ways, but not as a safe haven. With stocks, bonds, munis, whatnot - you are always going to be dependent on them being liquid, and upon a functioning market. My feeling is that there will be an attack on our markets that will succeed in causing serious disruptions. The core problems have not been fixed, leaving the markets vulnerable. Time goes by, and people forget but the problems remain.

    Therefore, my way of protecting against market risk is to be mostly in physical metals and cash with everything other than my mortgage equity - but I do diversify across metals, which sometimes buffer each other against economic twists & turns. In my opinion, I also get protection from market risk by being somewhat true to my objective of buying in both up and down markets, and selling only when I need to sell. My market risk is spread out over the temporal dimension, which in my mind is just as effective as spreading risk out over market sectors.

    I recommend about $250,000 into metals, with staggered purchases over about 4-6 months, and the other $50,000 in cold hard cash.
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • RedneckHBRedneckHB Posts: 19,658 ✭✭✭✭✭


    << <i>

    << <i>There are some EXCELLENT values in the muni market.

    Gecko, the munipalities problems can be fixed. Its called salary and benefit cuts. Be prepared. >>




    How do you fix unfunded pension liabilities that by themselves could bankrupt the promising entities? >>



    Easy. Either dont pay them or pay reduced benefits. The quicker the public employees realize these "promises" are egregious, the easier the transition to reality.

    The protests people should be concerned with are not those against the evil banksters, but rather against the overpaid public employee as these will truely be neighbor vs neighbor clashes. Your neighbor will not take kindly to higher taxes so you can retire at 50 with a 6-figure salary and full heath care benefits.


    To answer the OP---my choice would be a laddered portfolio of Certificates of Deposit or daytrading.image
    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • 1. 10% donation - Covered. Something a believer in giving back always sets first and foremost.

    2. Farm land ? Sounds good, but no experience. Lease it ? Taxes ? Sit on it ? Why ?

    3. Real estate rental properties. Sounds enticing. Sounds like a great revenue source. Couldn't deal with the stress.

    4. Muni's ? Perhaps, but I'm not quite there yet.

    5. 250,000 gold, and 50,000 cash. Sounds great, but where does the cash go ? In a bank ? Or in my fireproof safe ?


    What ? No one suggested day trading

    image


  • << <i>How old is this person with the extra 300k? Where does he live? Urban? Country? City? What is this persons goal with the money? Growth? Income? What is his risk appetite? ( It's noted he wants it safe, but just how safe?)

    MJ >>



    Person is 46. He lives in the suburbs/country in a modest 350,000k home. When everyone was upgrading to huge 550,000k homes,
    this person decided to stay put, and live simple. The persons goal is to just have it sit and do nothing. He has no risk appetite.
    He loves gold, and will probably invest in sports cards, which is his second passion. He doesn't know whether or not to trust
    it in a bank.
  • BaleyBaley Posts: 22,663 ✭✭✭✭✭
    he doesn't trust a bank account, but likes gold (which has quintupled in the past couple of years) and... wait for it...

    sports cards!

    image

    Liberty: Parent of Science & Industry



  • << <i>he doesn't trust a bank account, but likes gold (which has quintupled in the past couple of years) and... wait for it...

    sports cards!

    image >>



    Made 70k in sportcards in a three year period. That's profit. Those huge profit days are probably behind us, but
    it is a fun hobby that can easily entertain 25k of my cash.
  • BaleyBaley Posts: 22,663 ✭✭✭✭✭
    Yes, but what happened to safety and no risk?

    Great thread, sure going off the rails tho image

    edit: PS: where did the $300K come from in the first place?

    Liberty: Parent of Science & Industry



  • << <i>

    << <i>

    << <i>There are some EXCELLENT values in the muni market.

    Gecko, the munipalities problems can be fixed. Its called salary and benefit cuts. Be prepared. >>




    How do you fix unfunded pension liabilities that by themselves could bankrupt the promising entities? >>



    Easy. Either dont pay them or pay reduced benefits. The quicker the public employees realize these "promises" are egregious, the easier the transition to reality.

    The protests people should be concerned with are not those against the evil banksters, but rather against the overpaid public employee as these will truely be neighbor vs neighbor clashes. Your neighbor will not take kindly to higher taxes so you can retire at 50 with a 6-figure salary and full heath care benefits.


    To answer the OP---my choice would be a laddered portfolio of Certificates of Deposit or daytrading.image >>






    Egregious promises? What about my "egregious promise" to give up my own safety and perhaps life in the pursuit of saving one of those taxpayers? I have held up my end of the bargain. The real question is will you hold up yours? image
  • JustacommemanJustacommeman Posts: 22,852 ✭✭✭✭✭


    << <i>

    << <i>How old is this person with the extra 300k? Where does he live? Urban? Country? City? What is this persons goal with the money? Growth? Income? What is his risk appetite? ( It's noted he wants it safe, but just how safe?)

    MJ >>



    Person is 46. He lives in the suburbs/country in a modest 350,000k home. When everyone was upgrading to huge 550,000k homes,
    this person decided to stay put, and live simple. The persons goal is to just have it sit and do nothing. He has no risk appetite.
    He loves gold, and will probably invest in sports cards, which is his second passion. He doesn't know whether or not to trust
    it in a bank. >>



    FYI- I just put a TON of sports cards to auction a couple months ago. It went well. That money is sitting in a 8 month CD @ 1.25% until I figure it out. pmcollectour, I don't share your aversion to banks up to 250k. However, if it bothers you then it bothers you. MJ
    Walker Proof Digital Album
    Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
  • RedneckHBRedneckHB Posts: 19,658 ✭✭✭✭✭


    << <i>

    << <i>

    << <i>

    << <i>There are some EXCELLENT values in the muni market.

    Gecko, the munipalities problems can be fixed. Its called salary and benefit cuts. Be prepared. >>




    How do you fix unfunded pension liabilities that by themselves could bankrupt the promising entities? >>



    Easy. Either dont pay them or pay reduced benefits. The quicker the public employees realize these "promises" are egregious, the easier the transition to reality.

    The protests people should be concerned with are not those against the evil banksters, but rather against the overpaid public employee as these will truely be neighbor vs neighbor clashes. Your neighbor will not take kindly to higher taxes so you can retire at 50 with a 6-figure salary and full heath care benefits.


    To answer the OP---my choice would be a laddered portfolio of Certificates of Deposit or daytrading.image >>






    Egregious promises? What about my "egregious promise" to give up my own safety and perhaps life in the pursuit of saving one of those taxpayers? I have held up my end of the bargain. The real question is will you hold up yours? image >>




    The profession of fighterfighter was your choice. You knew the risks and rewards and made a choice. I am sure the residents of Chicago are very thankful for your service and are proving it by paying you a much above average salary. To continue to ask for this much above average salary after the age of 50 (in retirement) is, i am sure to the residents of Chicago, to be egregious. The people of Chicago may in fact pay you more while you are retired, than they did while you were working. But dont feel bad, there are millions of public employees who WILL also see their benefits cut. Dont take it personally, its just what the economy is demanding.


    But as Baley said this thread has really been derailed. Sorry pmcollectour. image I am really in amazement of the idea of risk-free and sportscards.
    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • Downtown1974Downtown1974 Posts: 6,963 ✭✭✭✭✭
    I would buy a small farm house and some land to get myself off the grid.
    Once I got settled in....I would sell my current home and disperse the money as follows;
    35% gold, 15% silver, 50% cash.

  • erickso1erickso1 Posts: 1,705 ✭✭✭


    << <i>

    << <i>There are some EXCELLENT values in the muni market.

    Gecko, the munipalities problems can be fixed. Its called salary and benefit cuts. Be prepared. >>




    How do you fix unfunded pension liabilities that by themselves could bankrupt the promising entities? >>



    Gecko109, since Justacommeman mentioned a water bond was his choice, pensions have no bearing on that bond being paid off. The revenue backing the bond is probably backed 100% by the revenue of the water/sewer district to which it is tied (there are a few minor exceptions). It has nothing to do w/ the general obligations of the municipality as a whole. Your concerns lie w/ one of two options. Either A.) Pension Obligation bonds, which as they sound are issued to fund said Pension obligations, with the assumption that the municipalities revenues can outstrip the interest cost; B.) General Obligation bonds. These are backed by the general obligation of revenues of the issuing municipality, which is usually property taxes, except Kentucky which uses appropriation bonds. These funds go into the general fund of the municipality which in part is used to fund pension obligations.

    Granted, there could be domino effect where the pension becomes unbearable, putting pressure on the GO debt, causing property taxes to rise to the point that the population vacates which leads to zero revenue for the water bonds.



    (edited to clarify Pension Obligation bonds and to correct my assumption of MJ's bond term)
  • jmski52jmski52 Posts: 23,224 ✭✭✭✭✭
    50,000 cash. Sounds great, but where does the cash go ? In a bank ? Or in my fireproof safe ?

    Cash in a bank? Well - maybe a good part of it in a safe deposit box, but not all of it. Not in a safe - the safe is a decoy. I put rolls of nickels and pennies in the safe.image

    I'm afraid you'll have to decide where it's best kept for ready access if needed.
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • For these kind of general pie-in-the-sky questions, I remain a fan of the Permanent Portfolio. Harry Browne wrote a couple of books on the subject and made the idea popular. There are a lot of variations and wrinkles on the idea, but the basic basics are: 25% gold, 25% cash, 25% stocks, 25% bonds, rebalance about once a year. This portfolio has weathered every financial storm, and horrendous bear markets in each of the three primary asset classes (bonds, stocks, gold) during the last 40 years or so. The future will bring bear markets in every asset class, gold included.

    The most common outcomes from these kinds of threads is a, b, or c.
    a) The op does what they were going to do anyway, whatever that was.
    b) The op doesn't have any real money to invest and just wants to shoot the bull.
    c) The op picks the worst and most foolish response, sometimes it might be a joke reply, but the op doesn't realize it, and puts all their money on that horse. A few months or years later, wonders what the heck happened when they have lost most of the money.
  • JustacommemanJustacommeman Posts: 22,852 ✭✭✭✭✭
    <On a side note, Justacommeman, a 2.9% yield for two years for a water rev bond is extremely high and tells me you either bought a bond a long time ago or you bought a water revenue bond w/ some "hair" on it as they say. I'd be curious to see what bond you are refering to. (not that I don't believe you, but rather it may be something to look for for our customers municipal portfolios. If it meets our credit rating criteria.). >

    No worries Nick.

    AAA rated. The effective yield for my tax bracket is actually a net 3.75% with 2.7 yield to maturity/yield to call. PM sent.

    edited to add I said 4 years. You said 2 years image

    Also, Nick it would be great if you spent more time on this forum. We could use the some balance considering you are a professional money manager.

    MJ
    Walker Proof Digital Album
    Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......


  • << <i>
    The most common outcomes from these kinds of threads is a, b, or c.
    a) The op does what they were going to do anyway, whatever that was.
    b) The op doesn't have any real money to invest and just wants to shoot the bull.
    c) The op picks the worst and most foolish response, sometimes it might be a joke reply, but the op doesn't realize it, and puts all their money on that horse. A few months or years later, wonders what the heck happened when they have lost most of the money. >>



    Nope. This is the real deal. I appreciate what people have to say here. There seem to be a lot of educated guys to glean from.

    The best advice I got did not come from this board, and it's something I plan on doing. In our state, you are allowed to make
    a maximum $12,000 tax free gift to your children (I have three) each year. Our state taxes 15% on anything over $675,000
    on your estate once you pass. Being that chances are good that I will be over that $675,000 amount, then I plan on doing the best I can to
    pass my hard earned money to my loved ones, and not the state.

    I also found out that when you get closer to passing it is a good idea to do this. Let's say you have 1.5 million in assets when
    you are close to death. Being that the state taxes 15% on anything over 675,000.00, then it would be wise for me to set
    up 3 accounts for my boys. Put $500,000.00 in each boys account under their name. That way when I pass, there is no 15% inheritance tax. The only tax that occurs is what my kids will have to pay on that $500,000.00 each year it sits in their account. I would simply pay
    for that tax for my three boys so it isn't a burden on them.

    MJ. Good job on the cards. I've been in the hobby for thirty years (off and on).
  • fishcookerfishcooker Posts: 3,446 ✭✭
    If close to death, the $500k exceeds $12k annual for gifts. How is it not a taxable event?


  • << <i>If close to death, the $500k exceeds $12k annual for gifts. How is it not a taxable event? >>



    The account goes in my name and their name. The annual interest gained on that account will be paid at the end
    of the year by me. It is not a gift, it is just an account in their name. When I die, my 1.5 million has been reduced to $500,000
    owned by 3 kids, because I exist no more. The threshold in my state is $675,000.00 Therefore my three boys pay no estate
    tax because their amount is $500,000 each.
  • guitarwesguitarwes Posts: 9,290 ✭✭✭

    Sounds like a great idea pmcollectour. Taking care of your family is a legacy that will never be forgotten.

    Sportscards were my first love. In hindsight I should've picked coins, but I loved the cardboard!

    @ Elite CNC Routing & Woodworks on Facebook. Check out my work.
    Too many positive BST transactions with too many members to list.
  • DrBusterDrBuster Posts: 5,433 ✭✭✭✭✭
    My extra 300k:

    50k in 90% coinage
    50k in physical gold
    100k in cash to be available for investment or business ventures to be determined after some time with:
    50-60k for a nice driver 65 Vette convert
    25-30k for a round-the-world vaca with the wife
    10-25k (whatever is left) to throw a bigass 3-day weekend party for friends and family
  • I think rental real estate is a good investment if you can manage the hassle. I don't think much of investing in any kind of raw land, you could be years before you get anything out of it. Other than that I would split it up between the stock market, gold, and good numismatic pieces.
  • jmski52jmski52 Posts: 23,224 ✭✭✭✭✭
    Um, not to derail this thread but what is the best way to evaluate and liquidate a hundred pounds or so of miscellaneous sports cards, nothing older than 1990 I think?

    My recommendation on metals & cash was based on a minimal time management requirement with no intermediaries. I keep thinking about a 2nd place, a small getaway, retreat on a lake, etc - but I did that once. You end up splitting your time and resources unnecessarily.
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • JustacommemanJustacommeman Posts: 22,852 ✭✭✭✭✭


    << <i>Um, not to derail this thread but what is the best way to evaluate and liquidate a hundred pounds or so of miscellaneous sports cards, nothing older than 1990 I think? >>



    Unless they are gem mint super star rare refractors, Gem Gem Gem mint (PSA 10) graded super rookies or random lottery type inserts----------they are basically kindling. This is not my area of sports card expertise but I'm pretty sure about this. MJ
    Walker Proof Digital Album
    Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
  • fivecentsfivecents Posts: 11,207 ✭✭✭✭✭


    << <i>Cash in a bank? Well - maybe a good part of it in a safe deposit box, but not all of it. >>

    I thought it was illegal to keep cash in a safe deposit box? Please correct me if I am wrong.
  • JustacommemanJustacommeman Posts: 22,852 ✭✭✭✭✭
    It is not illegal to keep cash in a safety deposit box. However, if that money is illegally obtained that is another matter. If your cash is earned or obtained legally you can put as much as you want in as many safety deposit boxes as your heart desires. MJ
    Walker Proof Digital Album
    Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
  • mrpotatoheaddmrpotatoheadd Posts: 7,576 ✭✭✭
    If the government agrees your cash is earned or obtained legally you can do what you want with it. Otherwise, all bets are off and they can help themselves to whatever they like. You, of course, are still free to file a lawsuit to recover your money from the government if you so choose.

    It's been in all the papers.

    edited to add... and to answer the original question, I'd take five bucks out of the 300k and give it to the guy in the other thread so he can buy that silver bar.
  • Hookers, blow and half eagles.
    molon labe
  • moonshinemoonshine Posts: 1,039 ✭✭
    find a nice rural piece of property, build a small self-sustainable solar powered house, and equip it with survival supplies, including - but not limited to, food, PM's, water well, windmill.... This land would have a running stream and/or pond. Find in low tax area and high elevation. And then send me - your new friend a few bucks for giving you such sage advice. image
  • jmski52jmski52 Posts: 23,224 ✭✭✭✭✭
    Hookers, blow and half eagles.

    I don't understand your logic. Why the half eagles?image
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
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