Post: #1

I'm saving between 3-4K dollars monthly working as an IT freelancer, but i would like to use this money for investing instead of saving it.
Any ideas?? I have been thinking in going the wall street way buying some stocks just to start, but
as a latin american i dont know if there are brokers that could accept foreign nationals?
The other option is to travel the world, but that would be spending,(although it would be memorable)

What would you do with 3-4K monthly after all your expenses are covered??

Post: #2

Put 48k in an Ira account in a years time and let it grow.

Post: #3

(03-21-2014 09:23 AM)MidniteSpecial Wrote:  Put 48k in an Ira account in a years time and let it grow.

Well i'm not a US resident or citizen. Also i found this regarding IRAs:

As of 2010, low savings rates, financial crises, and poor stock market performance had caused retirement savings account values to fall so low that 75% of Americans nearing retirement age had less than $30,000 in their retirement accounts, which Forbes called "the greatest retirement crisis in American history."

Post: #4

(03-21-2014 09:22 AM)orko Wrote:  I have been thinking in going the wall street way buying some stocks just to start, but
as a latin american i dont know if there are brokers that could accept foreign nationals?

I'm pretty sure they'll take anyone's money.

Post: #5

You could put it into inflation-linked treasury bonds.

No point in wasting your money on risky investments just for the sake of doing it. You can build some wealth in a more conservative way by just putting the money in the bank or in low-risk investments. It's not glamorous but it's wise.

That sounds like great pay and you should be very proud of yourself.

Post: #6

Who knows...but IMHO (very humble)...pay attention to what inflation will do long-term and what the US economy in general over-spending (the downfall of the US economy) will do to investing.

The dollar will continue to drop in value. That's not me saying doomsday because of liberal policies, it's just a fact. When you increase the US money supply without a corresponding increase in US production (not happening, that's why the gov't is increasing spending)...the result is a decrease in the value of the dollar.

This is why commodities are doing well. When you compare commodities to the dollar, they're retaining value. Again, I mean long-term compared to the dollar. Answer: I think real estate (or REITs), stock funds (backed by hard assets), and resource companies (oil, gold/silver, Du Pont type companies) will maintain returns over the long-term.

Potential response: "Commodities are going because everyone is buying them!"...Yes, in the short-term double digit growth is caused by that. That's not why I would buy commodities or the other investments mentioned. I would buy because of their long-term steady growth potential. Spread your risk. If inflation doesn't happen for some reason, and the US economy comes back, you'll have value in the stocks while the commodities take a hit...etc, etc.

I'm not an expert, I'm just saying read up on inflation and the affects on investing. Also Google gold backed currency pros and cons. It will give you a good understanding of macro monetary policy and perhaps some LT investing knowledge. My thoughts, take em or leave em. Congrats on the extra $3-4k / month.

Post: #7

How old are you?

Post: #8

(03-21-2014 10:44 AM)cheerfulwish Wrote:  How old are you?

i'm 35 years old.

Post: #9

Do you have some good reserves already in case you have an emergency?

Post: #10

(03-21-2014 10:25 AM)heavy Wrote:  Who knows...but IMHO (very humble)...pay attention to what inflation will do long-term and what the US economy in general over-spending (the downfall of the US economy) will do to investing.

The dollar will continue to drop in value. That's not me saying doomsday because of liberal policies, it's just a fact. When you increase the US money supply without a corresponding increase in US production (not happening, that's why the gov't is increasing spending)...the result is a decrease in the value of the dollar.

This is why commodities are doing well. When you compare commodities to the dollar, they're retaining value. Again, I mean long-term compared to the dollar. Answer: I think real estate (or REITs), stock funds (backed by hard assets), and resource companies (oil, gold/silver, Du Pont type companies) will maintain returns over the long-term.

Potential response: "Commodities are going because everyone is buying them!"...Yes, in the short-term double digit growth is caused by that. That's not why I would buy commodities or the other investments mentioned. I would buy because of their long-term steady growth potential. Spread your risk. If inflation doesn't happen for some reason, and the US economy comes back, you'll have value in the stocks while the commodities take a hit...etc, etc.

I'm not an expert, I'm just saying read up on inflation and the affects on investing. Also Google gold backed currency pros and cons. It will give you a good understanding of macro monetary policy and perhaps some LT investing knowledge. My thoughts, take em or leave em. Congrats on the extra $3-4k / month.

Also consider purchasing securities in other currencies (EUR, CAD, CHF) or, if in USDs, tied to economically more stable zones if possible, by way of location specific MFs or ETFs. The USD, while still a heavy-hitter, is not the only player in town when it comes to global asset allocation.

Post: #11

(03-21-2014 10:54 AM)samsamsam Wrote:  Do you have some good reserves already in case you have an emergency?

Yes, but i have some family obligations to meet(i'm single though without kids) and i dont own a house or apartment. i just rent...

Post: #12

reinvest it in what you know (the industry that has brought about your success).

There are a lot of people who want to turn shit to sugar. alas sugar isn't even good for you.

You got this extra income from providing value to people within the field you understand and excel at.

In fact, there is no get rich quick, or slow and happily plan, it's about providing value to people. where they happily give their hard earned money for a service or commodity you provide,

Thus, just keep on playin' playa... or think about how to get your skill set monetized where you can introduce or help facilitate relationships between your current market and the young up n comin' folk in your field in a way that benefits all, yourself wholly included.

Post: #13

Buy 4000 lottery scratchers

Post: #14

Invest in a mixture of property and bitcoin.

Post: #15

Orko,

Just don't feel forced to do something. Make sure you study it. You are in a fortunate spot.

A couple of questions:

1) What is your long term goal? Millions or steady cash flow to live in SEA or EE? Or something else?
2) What is your risk profile? Want to bet big and win/lose big or slow and stead?

Someone above mentioned do what you know, that is a great point. If you're in tech maybe you can buy and sell stuff for double your cash. Or stocks in the industry you know.

Post: #16

Buy low cost broad market ETFs, preferably in your country if it has functioning financial markets and not a dubious history of hyperinflation or random tax increases.

Post: #17

You can try to sub out what you do to free up some of your time and make more money.

Post: #18

Ducati streetfighter. Hands down

Post: #19

I'm also in IT - it's a young man's game (and I'm not so young these days). So over time you need to increase your income from your assets, and decrease your reliance on your job as a source of income.

My top tip is to buy residential property, that way you get an income that's inflation proof. Buy good stuff in areas where people will always want to live (NY, the UK etc.).

Also look at stocks and bonds. US and UK stocks are expensive right now, but there's always something worth buying. Asia is cheap at the moment, but I'm betting on it getting cheaper.

And of course have at least a year's salary in cash.

Post: #20

Save it like a motherfucker. Stay liquid my brother.

Post: #21

Would it be possible for you to do take on more projects and outsource them? That is borderline passive income.

Kind of like what this guy did.

http://articles.latimes.com/2013/jan/17/...a-20130117

Post: #22

What is the point of this thread?

I am being serious. The reason why i ask this is because a 4 months ago, you created pretty much the exact same thread with pretty much the exact same title... with pretty much the exact same set of questions.... you received a total of 35 replies... apparently none of it was good enough, so you feel compelled to create the exact same thread with the same exact set of questions all over again...

Here is your previous thread with title " Saving 3K monthly - What to do with it? " ... that sounds striking like this current thread title "What to do with 3-4K monthly in excess? "

Not just that, the questions you posted are strikingly similar... below was your question from 4 months ago in the thread that you created called Saving 3K monthly - What to do with it?

(12-05-2013 06:40 AM)orko Wrote:  Hi guys

I have been working as a freelancer for a couple of years and i have been successful. I live in a latin american country and i'm able to save 3K dollars monthly. Although its great i'm wondering what can i do to do more with that money, instead of just stashing it i would like it to "work" for me..
Any ideas??

Now, this is your question now from the new thread you created called " What to do with 3-4K monthly in excess?"

(03-21-2014 09:22 AM)orko Wrote:  I'm saving between 3-4K dollars monthly working as an IT freelancer, but i would like to use this money for investing instead of saving it.
Any ideas?? I have been thinking in going the wall street way buying some stocks just to start, but as a latin american i dont know if there are brokers that could accept foreign nationals?
The other option is to travel the world, but that would be spending,(although it would be memorable)

What would you do with 3-4K monthly after all your expenses are covered??

Seriously, what is the point?

You didnt get your answer the first time around? or are you trolling?

You plan on coming back in another 4 months with another thread title about "what to do with 4K monthly in excess?"

The original thread you created... youngglobalmobile and a few others wrote extensively...giving you detailed advice... on top of that, there are a bunch of threads on various investment and business opportunities that you can find with just a cursory search....

which makes me suspicious of your trolling intent.

In fact, i was about to reply to this particular thread of yours when i looked below... and lo and behold, displayed at the bottom of this very thread is your previous thread where you have asked the same question before.

Please, stop wasting people's time who generously contribute their time and effort. It is not cool.

regards,

Nemencine

Post: #23

Damn Nemencine. Eagle eyes...Nice catch.

Post: #24

(03-21-2014 09:22 AM)orko Wrote:  I'm saving between 3-4K dollars monthly working as an IT freelancer, but i would like to use this money for investing instead of saving it.
Any ideas?? I have been thinking in going the wall street way buying some stocks just to start, but
as a latin american i dont know if there are brokers that could accept foreign nationals?
The other option is to travel the world, but that would be spending,(although it would be memorable)

What would you do with 3-4K monthly after all your expenses are covered??

Would you please write a post on how you're making 3-4k a month? What kind of freelancing? what skills did you need?

Post: #25

(03-21-2014 06:05 PM)Nemencine Wrote:  What is the point of this thread?

I am being serious. The reason why i ask this is because a 4 months ago, you created pretty much the exact same thread with pretty much the exact same title... with pretty much the exact same set of questions.... you received a total of 35 replies... apparently none of it was good enough, so you feel compelled to create the exact same thread with the same exact set of questions all over again...

Here is your previous thread with title " Saving 3K monthly - What to do with it? " ... that sounds striking like this current thread title "What to do with 3-4K monthly in excess? "

Not just that, the questions you posted are strikingly similar... below was your question from 4 months ago in the thread that you created called Saving 3K monthly - What to do with it?

(12-05-2013 06:40 AM)orko Wrote:  Hi guys

I have been working as a freelancer for a couple of years and i have been successful. I live in a latin american country and i'm able to save 3K dollars monthly. Although its great i'm wondering what can i do to do more with that money, instead of just stashing it i would like it to "work" for me..
Any ideas??

Now, this is your question now from the new thread you created called " What to do with 3-4K monthly in excess?"

(03-21-2014 09:22 AM)orko Wrote:  I'm saving between 3-4K dollars monthly working as an IT freelancer, but i would like to use this money for investing instead of saving it.
Any ideas?? I have been thinking in going the wall street way buying some stocks just to start, but as a latin american i dont know if there are brokers that could accept foreign nationals?
The other option is to travel the world, but that would be spending,(although it would be memorable)

What would you do with 3-4K monthly after all your expenses are covered??

Seriously, what is the point?

You didnt get your answer the first time around? or are you trolling?

You plan on coming back in another 4 months with another thread title about "what to do with 4K monthly in excess?"

The original thread you created... youngglobalmobile and a few others wrote extensively...giving you detailed advice... on top of that, there are a bunch of threads on various investment and business opportunities that you can find with just a cursory search....

which makes me suspicious of your trolling intent.

In fact, i was about to reply to this particular thread of yours when i looked below... and lo and behold, displayed at the bottom of this very thread is your previous thread where you have asked the same question before.

Please, stop wasting people's time who generously contribute their time and effort. It is not cool.

regards,

Nemencine

Trolling? jeez i think you are too sensitive pal...
I just wanted to know the opinion of you guys after a period of time has passed since my first question.(in this case nearly 4 months)
Does that make me a troll??