Asher Guitars WD Music Products Amplified Parts Mod Kits DIY Nordstarnd Pickups darrenriley.com
Asher Guitars WD Music Products Amplified Parts Mod Kits DIY Nordstarnd Pickups Warmoth.com
Asher Guitars WD Music Products Amplified Parts Mod Kits DIY Nordstarnd Pickups Warmoth.com

Help me turn $2000 into....

Discussion in 'Bad Dog Cafe' started by Chick-N-Picker, Jun 14, 2018.

  1. Chick-N-Picker

    Chick-N-Picker Tele-Afflicted

    Age:
    25
    Apr 26, 2015
    North Carolina
    ....more dollars. I'm not a money driven guy but at the same time the more you have the more freedom you have, to a certain degree.

    I have $2000 cash that I've accumulated and have been thinking about this. I don't really trust banks though I would put it in to a bank if it helps achieve the goal.

    What can I do with it where it builds interest or things of that nature? I know there has to be some finance guys on here. Or maybe you have an entirely out side of the box idea.

    Just seeing what kind of thoughts and ideas are out there.
     
    Last edited: Jun 14, 2018
    Dan335 likes this.
  2. bftfender

    bftfender Friend of Leo's

    Dec 21, 2017
    York PA
    i buy gear and fix it. Lot of times i clean a guitar and set it up right or fix an amp. Its fun ...but you have to be a flipper not a keeper..took a long time to learn that
     
  3. NashvilleDeluxe

    NashvilleDeluxe Tele-Holic

    847
    May 10, 2007
    West Island, Quebec
    Mr. Chicken,
    If you carry credit card debt or student loans, look into applying your booty towards those things. If you are debt-free, child free, unmarried with $2000 in fist, go nuts.
     
    jason.clark and bparnell57 like this.
  4. trev333

    trev333 Telefied Ad Free Member

    What type of Nuts do you suggest?..:lol:

    Pecans, Almonds, Macadamias?.....it's pretty nutty out there...:twisted:
     
    Nubs likes this.
  5. w3stie

    w3stie Poster Extraordinaire

    Apr 19, 2010
    Brisbane
    Spend $15 on this book, and then follow his advice.

    [​IMG]
     
    joealso, Brucesu and drf64 like this.
  6. Chick-N-Picker

    Chick-N-Picker Tele-Afflicted

    Age:
    25
    Apr 26, 2015
    North Carolina
    Actually as somebody who has sold many many pounds of pecans. If I could find somebody with 2000 pounds of pecans for $1 per pound (in shell) I could pretty much guarantee that I could sell them for $2 a pound, thus leading to $4000.
     
    bparnell57 likes this.
  7. Staggerlee666

    Staggerlee666 Tele-Meister

    208
    Jul 24, 2014
    MPLS
    I would start with some investments that are completely free...the caveat is that you must invest your thoughts into it. If you want to turn that $2K into more money you better rethink your motivations. If you are not motivated by money, you will never gain the skills to obtain money.

    Not trusting banks tells me that you are ignorant of how banks, debt and other financial instruments work. I assume you are one of those "I buy everything cash only" guys, stupidly spending your own resources (money), instead of using someone else's (debt/financing) and then using your money to make more money.

    My advise is to education yourself on money and debt. Rich dad poor dad is a good start.

    Oh, and there is nothing wrong with being motivated by money and making more of it. If you are not, then you are ****in stupid. Just myho
     
    screamin eagle and Nick Fanis like this.
  8. Sparky2

    Sparky2 Tele-Afflicted

    Age:
    59
    Apr 15, 2017
    Harvest, Alabama
    If you have $2,000 in disposable income, then I must caution you to:

    a. Pay off all credit card debt

    b. Drop every cent of what's left onto the principal of your mortgage note.
    If that's $2,000, then drop $2,000 into the principal of your mortgage note, and move on.

    That's about all.

    :/
     
    jason.clark, lil scotty and btheblue like this.
  9. brokenbones

    brokenbones Tele-Meister

    365
    Mar 15, 2012
    Indy
    Pay off all debts. If you have kids look into a 529 plan. If it's just you and you can go without that money for a few years, i'd look into bonds, ETF's, a CD, or even a Roth IRA. If you see yourself dipping into that money in the next few years I would suggest an interest accruing savings account. If you're serious, go speak with someone at a smaller credit union and not a big named bank. They'll help you. I am not a financial advisor so please do your own research.
     
    Last edited: Jun 15, 2018
    jason.clark and Artslap like this.
  10. Spend about $100 on a Dave Ramsey Financial Peace University course. It will change yiur future through debt free living. $2000 is scraping by today & less than a month away from trouble should something go wrong in life. In other words, it is a drop in the bucket without a proper plan. $1000 is a minimum starter emergency fund.
     
    jason.clark, dan1952 and DannyBuffalo like this.
  11. bluenote23

    bluenote23 Tele-Meister

    At your young age, you are wise to start thinking about this now.

    As others have said, the first thing would be to pay off any outstanding debt you have.

    In my country, the banks are more securely regulated than in the US but I am sure that you can do some research to find a financial institution that has some firm foundation and fairly transparent security. That institution will have personal financial advisors that can set you up with investments that are managed and secured by the institution itself. Talk to them and invest in something that allows you to sleep at night.

    With the moderate average gains of conservative investments, your money will not grow that quickly right away but you have a lot of time on your side and the longer your money is invested, the more rapidly it will grow.
     
    jason.clark likes this.
  12. deytookerjaabs

    deytookerjaabs Friend of Leo's

    Jun 5, 2015
    Nashville
    A trip to the riverboat, duh.
     
  13. Obsessed

    Obsessed Doctor of Teleocity Ad Free Member

    Nov 21, 2012
    Montana
    You could buy 12,834 yuan and let it ride.;)
     
    Deeve and bparnell57 like this.
  14. NashvilleDeluxe

    NashvilleDeluxe Tele-Holic

    847
    May 10, 2007
    West Island, Quebec
    *********

    Yeah...you should definitely get in huge debt. Don't follow my path. Never borrowed anything. I'm 49, mortgage and debt-free and retired. So's my 48 year old girlfriend.
    "Yes, there are two paths you can go by, but in the long run..."
     
    Last edited: Jun 15, 2018
  15. boredguy6060

    boredguy6060 Friend of Leo's

    Mar 28, 2012
    Sou Cal
    Investing must include a time line. As in are you looking to make some quick money, or are you looking at longer term investments?
    What is acceptable risk to you? Can you live with losing?
    Liquidity, can you live without having access to your money, or would you have to be able to cash in at any time?
    What do you consider a good return?
     
  16. NashvilleDeluxe

    NashvilleDeluxe Tele-Holic

    847
    May 10, 2007
    West Island, Quebec
    That might have come across as quite crass, but I have a 21 year old daughter, and the thought of someone suggesting OPM (Other People's Money) as the path to peace enrages me.
     
    dan1952, Piggy Stu and Chick-N-Picker like this.
  17. moosie

    moosie Doctor of Teleocity Silver Supporter

    Age:
    61
    Jul 18, 2010
    Western Connecticut
    My advice is to be very selective about where you get your advice.
     
    joe_cpwe, Mase, TeleTucson and 12 others like this.
  18. Staggerlee666

    Staggerlee666 Tele-Meister

    208
    Jul 24, 2014
    MPLS
    Looks like you achieved all of this by hating money. :confused:
     
  19. Chick-N-Picker

    Chick-N-Picker Tele-Afflicted

    Age:
    25
    Apr 26, 2015
    North Carolina
    Your probably right, I'm ****in' stupid.
     
  20. NashvilleDeluxe

    NashvilleDeluxe Tele-Holic

    847
    May 10, 2007
    West Island, Quebec
    I am/was a high-school English/Business teacher who used my spare time ambitiously and had part time, low investment businesses. My girlfriend was in finance as a lawyer/MBA, and worked from home. My POINT was that borrowing successfully requires that you are smarter than those from whom you borrow. We decided we were not, so we didn't borrow. It's not about hating money.
     
    dan1952 likes this.
IMPORTANT: Treat everyone here with respect, no matter how difficult!
No sex, drug, political, religion or hate discussion permitted here.