My good friend has been in the military for the past 4 years and has saved $50,000 what should he do? ?

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My good friend has been in the military for the past 4 years and has saved $50,000 what should he do? ?

He had been playing the stocks but he quit for now. He is thinking it would be good to invest it in purchasing land while property is selling low or buy a forclosure. He doesnt get out for two more years. Just leaving it in the bank seems kinda crazy since it could be used to make more money. What would you tell him to do?

guyinda90s

Tell him... First i suggest to get a Finacial education. READ Rich DAD Poor DAD.. AND YES INVEST IT..managed forex account, where it can make 3-5 % monthly.......yes! monthly...
dont leave it in a bank. land is good.. but it depends on the local market.
i own rental properties. i use my profit (after expenses) i invest it in the forex, this accelorates my savings to buy more rentals.
now thats Money making Money.
I am a full time investor..

ranger_co_1_75

Open an account at Fidelity, deposit the $ in a interest bearing money market core account. Watch the market closely, when it turns around, invest in the Funds that are doing well.

If he plays the market now, then he is aware of how mutuals work and is savvy enough to know when to sell and buy as the market trends change.

The other opportunity right now is to buy Real Estate. Under all other investments is the land, and God isn't making any more of it. So demand will go up as more people populate the earth. Just think location, location, location.

Buy a house or houses and turn them over to a rental agency to manage. Take the tax breaks associated with owning rentals. I did, and rental income has let me retire at age 52.

draggin78201

I would tell him to stay in the military until he is able to retire from it (do his 20 years) so he can collect his military pension.
I would also tell him to continue to save as much as he possibly could, because it is very well possible that he could be a millionaire by the time he does retire.

Yoho

How are you going to make money off land or a houses when all the prices are falling every day?

I would tell hem to put it into a savings account and wait until something is stable. That 50k could turn into 40k over night in the market.
That 50k could turn into 42k in land in 1 year.

OR could turn into a a negative number trying to fix a "as is" foreclosed home.

Please understand i'm under the impression that this 50k is this guys life savings.

Jack

Buying property would not be a bad idea, but what would he do with it?If he can get a real deal on a house then he would either have to let it sit for two years or rent it out. Renting is a good idea in today's financial climate. But if he is an absentee landlord this would be bad. He would have to manage the property. There are all sorts of tax breaks for rental property. When he gets out he can live in the house for three years and it becomes his primary residence. Then he can sell it without counting the depreciation and upgrades he has taken as a tax break.

Right now I think municipal bonds or something like this is a safer investment. But if he is a gambler I would go for the property.

green sky means run

I would buy a house because at least if he didn't have a job he'd have a place to live. yes i would buy a foreclosure that wasn't falling apart. move to North Carolina. THat's where i wanna move after college. Lots of cute blonde chicks with the southern drawl.

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