Pete McCluskey.
Lifetime Supporter
This stockmarket crash is worse than divorce!
I've lost more than half my assets and I've still got a wife.:evil:
I've lost more than half my assets and I've still got a wife.:evil:
Stocks
- Thread starter Pete
- Start date
Brian Hamilton
I'm on the verge of touching myself inappropriatel
It's kind of a blessing in disguise for me. People are dumping everything they have into investment property and land. We have multiple buyers dumping 10's & 100's of millions of dollars into our office if we can get them what they want. I have a buyer right now about to dump more than $45M into my properties. I'm not complaining, I get a 5% take home commission check...
But then what do I do with my money...?
I guess the same thing... LOL
But then what do I do with my money...?
I guess the same thing... LOL
Similar to Jac, I had somebody comment today that they're really upset at having to stay married until he's worth divorcing.... At the moment half his value wouldn't pay for his own solicitor, never mind hers!
I told him to hold onto his hat, the value of his house might be on it's way to join his shares....
I told him to hold onto his hat, the value of his house might be on it's way to join his shares....
Dimi Terleckyj
Lifetime Supporter
Now is the time to go for that divorce.
With the value of everything down paying out her share is easier than ever.
When she is out of the picture it is all good as in time values will return and you would be better off.
Dimi
With the value of everything down paying out her share is easier than ever.
When she is out of the picture it is all good as in time values will return and you would be better off.
Dimi
Well we all know Pete was only lamenting the devaluation of his stocks & he probably only paid 2c on the $ for them when he bought them back in the 80's,
, and is probably enjoying a couple of quiet one's with Di @ the moment, but Dimi your idea is flawed as either party has the right to revisit the matrimonial split in say four/five years time if they feel they have been shortchanged -at least thats what happens in NZ. Still remember that part of my last talk with the legal eagle. So in the current climate things could get a little complicated.Brian Hamilton
I'm on the verge of touching myself inappropriatel
I wish. LOL Unfortunately once all that happens, I'll be in the same boat as everyone else. Wondering where the hell to put my money so it doesn't dissappear on me. I know the tax man is going to come calling, and to be honest, the prospect of making quite a bit of money is both exciting and scary. I've never made anything close to this before, and I have no idea what to do with it. Well, I mean I have an IDEA, but the wife trumped that REAL quick. LOL
But honey, it's only 1 Ferrari, 2 GT40's, The SL-C, SL-R, and a new car for you...
hehehe
Brian - I'm NOT a financial wizard so the following is only an opinion: From scanning several publications, there was a somewhat common opinion by the respective financial reviewers that a type of short term T-bill or US Treasury security would be a good idea for now.There wouldn't be much speculative appreciation but your investment would be retained.And if the fdic is going to cover anything up to 250k,this might help if you pick a market fund structured by your bank(s) to retain principle.Only gains would be at risk. If you want to walk the tightrope for a while,there's real estate. A.J.
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Brian Hamilton
I'm on the verge of touching myself inappropriatel
AJ
I work in Real Estate. The big thing right now is LAND. I have people dumping millions of dollars in land. It's a physical, tangible investment that they can put their hands/feet/eyes on. Plus, unless you live in Hawaii or Dubai, they're not making any more land. Homes on the other hand... That's a different story. That's what started this whole cluster fu**.
Honestly, land investment is a good idea, but I'm trying to figure out what to dump the money into immediately that will lessen my tax burden. Know what I mean? If I leave all the money liquid, I get bent over for it. I know there are investments that you can do immediately that keep that from happening.
I guess I have to get the check first and then talk with my financial advisor.
I work in Real Estate. The big thing right now is LAND. I have people dumping millions of dollars in land. It's a physical, tangible investment that they can put their hands/feet/eyes on. Plus, unless you live in Hawaii or Dubai, they're not making any more land. Homes on the other hand... That's a different story. That's what started this whole cluster fu**.
Honestly, land investment is a good idea, but I'm trying to figure out what to dump the money into immediately that will lessen my tax burden. Know what I mean? If I leave all the money liquid, I get bent over for it. I know there are investments that you can do immediately that keep that from happening.
I guess I have to get the check first and then talk with my financial advisor.
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Sorry,Brian.I should have been more specific - I did mean land/property but you could get burned or at least temporarily stranded if you need instant liquidity;and as your industry always says,"location,location,location". I can't put myself in your shoes as I'm now retired and income is more or less fixed.I took a bath on my youngest kid's college funds with the market dive and getting this GT40 is now putting me in a bind as I'm committed to completion and getting the kid through school.I wish I had your situation right about now.You might think about keeping some of it in short term holdings,as I mentioned before,because the market's volatility might force you to live on some of that - you just don't know where you'll be tomorrow. A.J.
Brian Hamilton
I'm on the verge of touching myself inappropriatel
Absolutely agree with you. That's why I'm meeting with my financial advisor on Sunday afternoon about all this. Need to know where to put it and keep it safe, but accessable if need be. I feel sorry for you guys loosing your asses out there.
