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If you had $85,000 cash, what would you do with it?

 
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JimJ



Joined: 19 Jul 2004
Posts: 6
PostPosted: Mon Jul 19, 2004 9:27 am    Post subject: If you had $85,000 cash, what would you do with it? Reply with quote
If you got $85,000 in the bank all at once, what would you do with it? I mean real estate stinks, the stock market has already had it's huge run, gold is way overpriced? The dollar is declining. So where would you put it? I don't have any debts, no bills, home is paid for, so what else can I do with it? I was leaning towards a savings account yielding 5% right now, but with the dollar declining and inflation, is this best? I was also thinking of buying a 1 bedroom condo and managing it as a rental long term? Any ideas are appreciated!
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girliee



Joined: 25 Jul 2004
Posts: 4
PostPosted: Sun Jul 25, 2004 5:24 am    Post subject: If you had $85,000 cash, what would you do with it? Reply with quote
Invest invest invest... buy property.. the ecomony sucks right now but itll get better!! buy property because it will go up soon.. if u have kids or thinkin of having kids.. put some away for their college funds! Smile
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Dragonheart



Joined: 31 Jul 2004
Posts: 4
PostPosted: Sat Jul 31, 2004 1:21 am    Post subject: If you had $85,000 cash, what would you do with it? Reply with quote
The idea of the bedroom condo is interesting, as well, If there was something left I would try to do my own business (without partners).
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BigPeterJohnson



Joined: 05 Aug 2004
Posts: 3
PostPosted: Thu Aug 05, 2004 9:18 pm    Post subject: If you had $85,000 cash, what would you do with it? Reply with quote
I'd buy an xbox 360, Halo 3, Guitar Hero, a case of beer, a macintosh computer, a textbook on number theory, maybe a hot hooker for the night, and some chinese food.
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dan_kschang



Joined: 11 Aug 2004
Posts: 2
PostPosted: Wed Aug 11, 2004 5:16 pm    Post subject: If you had $85,000 cash, what would you do with it? Reply with quote
Well that is a good problem that you have it there? Invest into multiple small business, set-up joint venture, become a passive investor and see how there growth the business.This especially positive if you have any foreign migrant in your neighborhood, there are hard at work and willing to die for for the business to survive. Improve the business system and sell the share later (a year or two) and cash out.Otherwise buy a franchise and hire a team to run for you. and monitor the progress. Better deal compare to put money in the stock.CheersDan
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Live_For_Today



Joined: 17 Aug 2004
Posts: 7
PostPosted: Tue Aug 17, 2004 1:13 pm    Post subject: If you had $85,000 cash, what would you do with it? Reply with quote
I have more than you and I have got it sitting in an ING Bank account which earns me around $500 a month and its climbing.
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ToniSB



Joined: 23 Aug 2004
Posts: 4
PostPosted: Mon Aug 23, 2004 9:10 am    Post subject: If you had $85,000 cash, what would you do with it? Reply with quote
How about charity: I would appreciate anything between $5000 to $10000 in order to pay for bills, to pay up my mortgage for a couple of months, and to assist with renovating my house. Also, I would buy my mother a new bedroom set.Thanks.PS: I was just kidding about giving the money to me, personally (although it would help Smile). However, giving a portion of it to a charity or church would be a wonderful thing to do, plus it can be a tax write-off. In additiion, setting up a trust fund for younger relatives may be an idea.
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angela8067



Joined: 29 Aug 2004
Posts: 6
PostPosted: Sun Aug 29, 2004 5:07 am    Post subject: If you had $85,000 cash, what would you do with it? Reply with quote
Real estate is definitely a good bet. Any kind of property goes up in a couple of years, unless some kind of serious damage happens to it. Right now, since the Canadian dollar's so high, you could also spend some of your money buy trading Canadian money for American, then later switching it back if Canadian goes down.
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