Quote:
Originally Posted by Sack Lodge
Country you live in - USA
Income - $72,000/yr
Risk Tolerance - Low
Timeframe for investment - Depends on size of investment and return. Could be as short as 5 years or as long as 25 (I'm 34).
Debt - $208,000 mortgage, $28,000 student loan
I have $80,000. I think I want to keep $40-$50,000 liquid. What should I do with the other $30-40,000? Also, is that too much to keep liquid? I'm married with one kid. Our monthly income covers our expenses, but not by a huge amount so I need to keep a reserve in case of emergencies.
Thanks!
Keeping $$ in the bank is a waste tbh. All they are doing is using your $$ to invest and make a huge profit and giving you fractions of a penny.
Best place to put your $$ is in a brokerage account and trade with it...dont invest..trade. If you arent capable of doing so find someone that will do it for you that you trust. Its not hard to make really good $$ in the market no matter which way its going.
The best book ever written about trading is called Reminiscences of a Stock Operator. I highly suggest you read that and it can help you make decisions that are best for you and VERY profitable. Ive read it 10 times and learn more every time I read it. Its helped me become a very successful trader and I dont plan on looking back.
With the kind of cash on hand that you have, you can have 10x that in a year if you make the right trades...and thats being conservative. No matter which way the market is moving, you can make a lot of $$ making the right trades.
Trading and investing are two very different things....I would NEVER invest in this market but I would trade the hell out of it.