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If you had a large sum of money in the bank what would you do with it?

 
Anonymous Coward
User ID: 80369068
France
05/16/2021 10:25 AM
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Re: If you had a large sum of money in the bank what would you do with it?
Ok, if I had some, I'd buy the following. An all american pressure canner (the largest one), a quad, a welding rig, tools, and a new hip jointhf
Anonymous Coward
User ID: 80372910
United States
05/16/2021 10:26 AM
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Re: If you had a large sum of money in the bank what would you do with it?
Address a certain type of “waste.”
Address health with fitness products.
 Quoting: Anonymous Coward 80372910


...and, acquire land. Establish a consulate for those who opt out.
Anonymous Coward
User ID: 80372645
Ukraine
05/16/2021 10:29 AM
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Re: If you had a large sum of money in the bank what would you do with it?
My theory that I call "The do something disease" comes into play here...Usually, the best course of action in situations such as these, the best thing to do is nothing...even when your gut is screaming that you need and must act and DO something...Don't.

The law of unintended consequences sets you up for failure...By doing nothing, you avoid many mistakes and having money in the bank in never ever a bad thing...unless it was a bank engulfed in the S&L crisis in the 1990's where people lost all of their money.
 Quoting: BRIEF


FTFY

And don't count on FDIC to come to the rescue if your bank goes under. Legally FDIC can take up to 7 years to return your money.
Anonymous Coward
User ID: 80372645
Ukraine
05/16/2021 10:30 AM
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Re: If you had a large sum of money in the bank what would you do with it?
2 chicks at the same time
 Quoting: Anonymous Coward 80351412


And 5 minutes later you'd be broke.

It's sad that some of you need to pay large sums of money for a little fake affection.
Anonymous Coward
User ID: 76760905
United States
05/16/2021 10:34 AM
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Re: If you had a large sum of money in the bank what would you do with it?
I'd buy about an acre of good farmland, put a house on it if there isn't one already, some equipment, a well, some solar and if anything's left over precious metals.
Anonymous Coward
User ID: 79830924
United States
05/16/2021 10:35 AM
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Re: If you had a large sum of money in the bank what would you do with it?
My theory that I call "The do something disease" comes into play here...Usually, the best course of action in situations such as these, the best thing to do is nothing...even when your gut is screaming that you need and must act and DO something...Don't.

The law of unintended consequences sets you up for failure...By doing nothing, you avoid many mistakes and having money in the bank in never ever a bad thing...
 Quoting: BRIEF


I agree, to a degree,ha ha, keep some of that cash in a safe place, which is not always a bank.
Johnny Be Good

User ID: 80364754
United Kingdom
05/16/2021 10:35 AM

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Re: If you had a large sum of money in the bank what would you do with it?
Seems like money in the bank is just a sitting target for hyperinflation, gov haircut, financial reset.

Might as well park it in something tangible until the lay of the land becomes clearer - something useful, that will hold it's value, not easy to steal and readily tradeable.
Length of days is in her right hand; and in her left hand riches and honour. Her ways are ways of pleasantness, and all her paths are peace.
Abe Froman

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05/16/2021 10:36 AM
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Re: If you had a large sum of money in the bank what would you do with it?
First thing I would do is move.
 Quoting: iseeyourmind


What if you already live in the perfect area?
 Quoting: Stella Wayten


OP, where is the "perfect" area?

I had considered Northern Idaho and now Western South Dakota or Western Montana. Idaho is off the list because too much influx.
 Quoting: Anonymous Coward 72577314


New Mexico. There are almost no black people here.
Crap
Anonymous Coward
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United States
05/16/2021 10:37 AM
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Re: If you had a large sum of money in the bank what would you do with it?
My theory that I call "The do something disease" comes into play here...Usually, the best course of action in situations such as these, the best thing to do is nothing...even when your gut is screaming that you need and must act and DO something...Don't.

The law of unintended consequences sets you up for failure...By doing nothing, you avoid many mistakes and having money in the bank in never ever a bad thing...
 Quoting: BRIEF


When I went to nursing school a long time ago we learned Loeb's Laws.
Loeb was a physician back in the early 1900s and postulated a set of laws that bear his name.
Most apply not only to medicine but also to life.

#1 If what you're doing is working, keep doing it.
#2 If what you're doing is not working, stop doing it.
#3 IF YOU DON'T KNOW WHAT TO DO, DONT DO ANYTHING.
#4 Above all else, never let your patient fall into the hands of a surgeon.
Anonymous Coward
User ID: 80148041
United States
05/16/2021 10:37 AM
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Re: If you had a large sum of money in the bank what would you do with it?
Two chicks at the same time.
 Quoting: Anonymous Coward 79759660


DIS
Stella Wayten  (OP)

User ID: 75397281
United States
05/16/2021 10:38 AM

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Re: If you had a large sum of money in the bank what would you do with it?
I'd buy about an acre of good farmland, put a house on it if there isn't one already, some equipment, a well, some solar and if anything's left over precious metals.
 Quoting: Anonymous Coward 76760905


An acre isn't very much room at all and you would have very close neighbors.
Anonymous Coward
User ID: 80215135
Philippines
05/16/2021 10:38 AM
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Re: If you had a large sum of money in the bank what would you do with it?
id buy a cnc machine or an electron microscope
Stella Wayten  (OP)

User ID: 75397281
United States
05/16/2021 10:38 AM

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Re: If you had a large sum of money in the bank what would you do with it?
Seems like money in the bank is just a sitting target for hyperinflation, gov haircut, financial reset.

Might as well park it in something tangible until the lay of the land becomes clearer - something useful, that will hold it's value, not easy to steal and readily tradeable.
 Quoting: Johnny Be Good


That's what I'm thinking. What do you suggest?
Anonymous Coward
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United States
05/16/2021 10:39 AM
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Re: If you had a large sum of money in the bank what would you do with it?
Barrett 50BMG
Anonymous Coward
User ID: 77681659
United States
05/16/2021 10:39 AM
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Re: If you had a large sum of money in the bank what would you do with it?
I bank in Canada,in a checking account,can write checks in USD$,ready to write.
Anonymous Coward
User ID: 32517190
United States
05/16/2021 10:40 AM
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Re: If you had a large sum of money in the bank what would you do with it?
2 chicks at the same time
 Quoting: Anonymous Coward 80351412


And 5 minutes later you'd be broke.

It's sad that some of you need to pay large sums of money for a little fake affection.
 Quoting: Anonymous Coward 80372645


Man that one went way over your head
Elegant Walnut

User ID: 75915639
Canada
05/16/2021 10:40 AM

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Re: If you had a large sum of money in the bank what would you do with it?
Preps.
Agent 99

User ID: 77082640
United States
05/16/2021 10:41 AM

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Re: If you had a large sum of money in the bank what would you do with it?
I'd buy about an acre of good farmland, put a house on it if there isn't one already, some equipment, a well, some solar and if anything's left over precious metals.
 Quoting: Anonymous Coward 76760905


that's going to cost about 500k.
BRIEF

User ID: 79662918
United States
05/16/2021 10:41 AM

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Re: If you had a large sum of money in the bank what would you do with it?
My theory that I call "The do something disease" comes into play here...Usually, the best course of action in situations such as these, the best thing to do is nothing...even when your gut is screaming that you need and must act and DO something...Don't.

The law of unintended consequences sets you up for failure...By doing nothing, you avoid many mistakes and having money in the bank in never ever a bad thing...
 Quoting: BRIEF


When I went to nursing school a long time ago we learned Loeb's Laws.
Loeb was a physician back in the early 1900s and postulated a set of laws that bear his name.
Most apply not only to medicine but also to life.

#1 If what you're doing is working, keep doing it.
#2 If what you're doing is not working, stop doing it.
#3 IF YOU DON'T KNOW WHAT TO DO, DONT DO ANYTHING.
#4 Above all else, never let your patient fall into the hands of a surgeon.
 Quoting: Anonymous Coward 80237159


Very good!

It may not be an original theory but it's not plagiarized...
I never forgive and I never forget

I am a licensed firearm holder. I will, under protection of law, use lethal force if attacked.

Briefcut4892
Anonymous Coward
User ID: 80372645
Ukraine
05/16/2021 10:42 AM
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Re: If you had a large sum of money in the bank what would you do with it?
id buy a cnc machine or an electron microscope and then starve when TSHTF and there's no power
 Quoting: Anonymous Coward 80215135


FTFY
Anonymous Coward
User ID: 76760905
United States
05/16/2021 10:42 AM
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Re: If you had a large sum of money in the bank what would you do with it?
I'd buy about an acre of good farmland, put a house on it if there isn't one already, some equipment, a well, some solar and if anything's left over precious metals.
 Quoting: Anonymous Coward 76760905


An acre isn't very much room at all and you would have very close neighbors.
 Quoting: Stella Wayten


That's true but the more land you have the more taxes you pay and the more upkeep and maintenance you have. I'd just be interested in enough to have a nice garden to feed myself with a little left over.

Probably in a semi-rural area, plots of land between 1 and 20 acres.
Anonymous Coward
User ID: 76760905
United States
05/16/2021 10:43 AM
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Re: If you had a large sum of money in the bank what would you do with it?
I'd buy about an acre of good farmland, put a house on it if there isn't one already, some equipment, a well, some solar and if anything's left over precious metals.
 Quoting: Anonymous Coward 76760905


An acre isn't very much room at all and you would have very close neighbors.
 Quoting: Stella Wayten


That's true but the more land you have the more taxes you pay and the more upkeep and maintenance you have. I'd just be interested in enough to have a nice garden to feed myself with a little left over.

Probably in a semi-rural area, plots of land between 1 and 20 acres.
 Quoting: Anonymous Coward 76760905


Neighbors aren't really a bad thing, you want community. People who are in a community have a higher chance of survival than people isolated.
Icey

User ID: 77119763
United States
05/16/2021 10:45 AM

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Re: If you had a large sum of money in the bank what would you do with it?
Drugs, alcohol and women. But that's nothing new.
I am SNOWIE. WELCOME TO THE NEW ICE AGE. TRY NOT TO STARVE.
InfiniTea

User ID: 80241920
Romania
05/16/2021 10:45 AM
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Re: If you had a large sum of money in the bank what would you do with it?
What is a large sum of money to you? Put some perspective to your question and you might be able to get some kind of real answer.
 Quoting: Anonymous Coward 80372826


I said an amount to be able to pay cash for a car.
 Quoting: Stella Wayten


Only you can do the research and only you know your risk tolerance.

CD- low low interest bearing. Doesn’t match inflation. Doesn Match damage to value of the dollar.

Mutual funds- some guarantee the level of interest (fixed interest funds).. Some don’t. The ones that don’t, past performance isn’t indicative of future results. But there is something out there that will probably fit what you are looking for. So those that don’t guarantee, they are so much more risky, but if you are okay keeping the money away for a long time, you might see returns that are massive.

Day trading - you can do this with stocks or forex or crypto or anything, with or without leverage. But, you have to realise it’s money you may lose. You’d need to educate yourself before delving. Most people lose money. You have kids. Not likely a great option. This is the most risky option of everything I mention.
 Quoting: InfiniTea


I've gone thru all of those options in my head. Just trying to see if y'all have thought of something I haven't.
 Quoting: Stella Wayten


You might have gone through all the options in your head, but the fixed income mutual fund would do what it sounds like you are seeking to do.

If you want to be safer in event of further societal upheaval, definitely invest in a rocket stove for cooking (or diy your own and save some money), locate a cleanish water source, and get a good off the grid water purifier (ie berkey, but that choice is up to you). Beyond that, so long as you are on your own land and able to perpetuate with minimal effort (strawberries grow back, asparagus does too, potatoes can be re-planted and if you have a hay or straw source, you can do potatoes without much effort as well, above ground)...I’d also consider amaranth as the greens are healthy (baby greens, and it keeps growing, check youtube), and amaranth seeds are plentiful when harvesting those and can be used for the proceeding year...you can make cereal from it by dry pan puffing them, like popcorn...for breakfast cereal option in event of an end of days scenario. Raspberries and blueberries as well, blueberries especially if you have pine trees around, for collecting the pine needles for the blueberries.

You could buy earth bags if you don’t live in a flood zone, and store them safely, in event the end of days occurs, then you can build a home off the side of yours that does not require the same amount of heating and AC to maintain temps. But all of these things together are not expensive. And you will have cash remaining, which is great for an emergency fund, and if you invest in a fixed interest fund, some of those have remarkably high interest. If you have a bit more coming in than you spend, you can add to the investment.

You have young children, so it is wise to think of them before doing anything crazy with the money. If you are bored, you could throw 1000 of it into day trading, only once educated, and put the rest into fixed interest funds.

What other ideas you are trying to scout from people in here is investment advice that I would avoid. (Those saying which specific crypto to consider, precious metal, etc).

Regardless, you can’t uncover fixed interest funds from your brain, that requires actual research.

Last Edited by InfiniTea on 05/16/2021 10:46 AM
Anonymous Coward
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05/16/2021 10:46 AM
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Re: If you had a large sum of money in the bank what would you do with it?
Prostitutes and coke
Stella Wayten  (OP)

User ID: 75397281
United States
05/16/2021 10:46 AM

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Re: If you had a large sum of money in the bank what would you do with it?
I'd buy about an acre of good farmland, put a house on it if there isn't one already, some equipment, a well, some solar and if anything's left over precious metals.
 Quoting: Anonymous Coward 76760905


An acre isn't very much room at all and you would have very close neighbors.
 Quoting: Stella Wayten


That's true but the more land you have the more taxes you pay and the more upkeep and maintenance you have. I'd just be interested in enough to have a nice garden to feed myself with a little left over.

Probably in a semi-rural area, plots of land between 1 and 20 acres.
 Quoting: Anonymous Coward 76760905


There really isn't much upkeep except to fix the fences. And if you have enough you get ag exemption to help with the taxes. And finding just one acre of land to buy is almost impossible unless you want to live in a housing development.
Anonymous Coward
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Ukraine
05/16/2021 10:46 AM
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Re: If you had a large sum of money in the bank what would you do with it?
I'd buy about an acre of good farmland, put a house on it if there isn't one already, some equipment, a well, some solar and if anything's left over precious metals.
 Quoting: Anonymous Coward 76760905


that's going to cost about 500k.
 Quoting: Agent 99


Not even half of that.

Here's 2+ acres in the mountains of GA with a water source for $40K (asking price...probably get it for $35K)

[link to www.zillow.com (secure)]

Now build a 1800 sq. ft. modular (not mobile) home on that land, very nicely equipped, for about $175,000.

But OP is looking at the price range of a car, I believe.
Anonymous Coward
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United States
05/16/2021 10:47 AM
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Re: If you had a large sum of money in the bank what would you do with it?
First, don't take advice from people who are broke.

If you are not debt free, get there, don't even take zero percent loans, as there is precedent to revalue loans to Gold even in the absence of a Government holding Gold during a collapse.

Get away from population centers move to a rural area where state and local government support your world view. Ideally an area where intentional communities are already established who support your world view. Become part of an intentional community of other people you can trust.

Focus on production not consumption. Make sure you are a net producer of food, water, shelter, power, security, medical, communication, intelligence, and community.

While things remain calm establish a variety of businesses that produce and maintain inventory in the categories above. So when the balloon goes up, you are sitting on means of production and inventory of the things you need.
Anonymous Coward
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United States
05/16/2021 10:48 AM
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Re: If you had a large sum of money in the bank what would you do with it?
Buy equal parts XLM and XRP
beenthruthat

User ID: 78503183
Canada
05/16/2021 10:49 AM

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Re: If you had a large sum of money in the bank what would you do with it?
My theory that I call "The do something disease" comes into play here...Usually, the best course of action in situations such as these, the best thing to do is nothing...even when your gut is screaming that you need and must act and DO something...Don't.

The law of unintended consequences sets you up for failure...By doing nothing, you avoid many mistakes and having money in the bank in never ever a bad thing...
 Quoting: BRIEF


ah ... Grasshopper ... You have learned much in Your journey ...
People don't care how much You know ... till they know how much You care ...





GLP