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Old 08-31-2011, 09:55 AM   #20 (permalink)
mr_sk
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As for the comment about banking the money for interest... Have you looked at interest rates on a savings account or CD lately? Nobody saves money to make interest unless you're putting away millions.
Yup. Putting money in a CD or savings account won't even beat inflation / cost of living increases. If you really want to make your money work, put it in the market and spend a **** ton of time managing it... these days you can't even buy S&P index funds and think you'll be better off in 2 years...look at all the destroyed 401ks....

..just keep the car. It'll be that much better when you get home and it's waiting for you...

Stay safe! And thanks!

Edit: One good strat is you wanna hold for a few years, buy stocks in a company that doesn't move much (McDonalds, Bristol Meyers) and sell covered calls on it. You can do this from 401k accounts too...it's a pretty low risk strat and you get a nice premium paid out at the end of the expired option. Minimal time management too. Maybe a few hours at first to calc out a good setup, then minimal monitoring weekly.
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