Husband and I have decided to sell our house and return to the old family homestead. We stand to clear around $400,000 which we’re afraid to put in a bank. Husband wants to sink the entire amount into DWAC. We know the market is going to tank and DWAC will go down too, but we also believe it’s the only solid stock that will “moon” eventually. Advice is most wanted and welcomed. Thanks in advance
You're viewing a single comment thread. View all comments, or full comment thread.
Comments (27)
sorted by:
I'm no financial advisor, but that sounds like the wrong idea. If we are actually going to kick out the corruption in the financial sector, the stock market is going to plummet. Because whatever is propping it up won't be anymore. And if that grift money/false facade isn't coming back, stocks will go back to having a valuation far more in line with earnings. The days of having a market cap of half a trillion while having annual net income in the single digit billions will screech to a halt.
Don't rely on me. Just consider this point when making your decision. I could be way off base. I just don't think I am. Plus, how much "online" revenues are real vs intel agency laundering? We know all of these ad guys have a serious bot problem. If that gets sorted out, all of social media will suffer big time. Anyone depending on advertising money is going to have their revenues cut significantly. To me, any tech/social media company offering free services in exchange for big ad revenue/personal data collection sales is in for a rude awakening.
You need physical assets. Something that just can't be reduced to zero. More land, precious metals, and the like. Buy another house and rent it. What it is worth 5 years from now doesn't matter if you aren't selling. You ought to be able to gross 6-7% on a rental property you properly buy today. That margin will only grow over the years. As housing sales slow down from rates, the rental market is going to spike. As an example, a pair of rentals I got in 2014 grossed 8% a year back then. Rents have climbed enough in that time that its now 16%. My cost basis is the same, my property is worth nearly double, and my gross rents have doubled and are still on the ascent. All I gotta do is field a couple of phone calls a year and then call someone else to go fix something. Pretty good for 16% return sitting on my ass. Wish I had 50 of these lol...
Sound advice and I should have added that we’re retired. Husband is 74, I’m 64 so not sure we are going to have “time” to invest in anything long term. Not saying we’re ready for the grave, far from it. We’re both in great shape, better than 95% of others our age. I have family who have rental property and they are always complaining about what a pain in the ass it is. Not real sure what to do. We do have a small mortgage and rental property is higher than our mortgage. The point is, we don’t want to keep doing this. We want out before the market goes flat out under. If we delay, we’re stuck