gegege

wondering where you guys are putting your money for short and long term.
haven't really done any investing, just basically throwing the $$ in a drawer.

thoughts on buying foreign currency? or anything else for that matter.
would like to limit what uncle sam would take.
maybe putting money abroad to earn interest without taxation?

the way our govt (dont want to get into poitics) is running our affairs,
i am thinking the dollar is going to get weaker and weaker. thoughts?

any and all ideas are welcome.

as for the amount of $$, lets just say it is not chicken feed

Matt_in_VA

I would strongly suggest that you invest in the Matt_in_VA retirement fund The financial reward may not be what you are looking for. But, if properly funded, you may expect a Christmas Card from me every year.

Seriously, I would seek out a Certifiied Financial Advisor that is fee based, perferably one that comes recommended from a trusted friend or associate. We were recommended to someone that is fee based. I like the idea that I am paying them for their advice in my overall financial situation. At least once a year, I have her review my 401K investment options and she makes adjustments based on her knowledge even though my 401K has nothing to do with her side of my portfolio. I like the concept that she does not have to buy or sell anything for me to make some money. But, that we are paying for her knowledge. Last I checked she has us at a "double digit" YTD return on our money.

ralper

Matt is absolutely right. Without knowing anything about your situation, it is wrong for anyone to suggest any type of investment to you. You need to get in touch with a professional. A Certified Financial Advisor would be a good place to start.

You also should seek out competent advice with reference to your tax situation. A Certified Public Accountant is a must. I'd be very careful about trying to avoid paying taxes by "putting money abroad". It's not quite that simple.

PanteraKitty

Does your employer offer a 401k? Does your employer have a program to match your contributions to your 401k? If so, I would invest at least as much as your employer will match. You can invest pre-tax dollars. Money grows tax free and then you pay tax when you draw money out.

IRAs are also tax defered.

Learn about mutual funds. The Handbook For No-Load Fund Investors by Sheldon Jacobs is one book that you could look at.

kellyvu

Anyone interested in investing in foreign plays, there is a new ETF that represents companies in Brazil, Russia, India and China. The symbol is EEB. I'm buying it in my teenager's Roth. You can look it up on Yahoo I think.

MsPerky

Some peeps like to spend alot of time making investments and tracking them online. I'm not one of them. I've had an investment advisor and an accountant for years. I recommend both.

BTW - There is a new money and investing forum on S2Ki...here's the link:

https://www.s2ki.com/forums/index.php?showforum=179

trapper

Not a play I would recommend for the faint of heart.

gegege

thanks for the input.
i have traded in stocks alittle in the past.
actually it was one stock, compaq, made a nice little nest egg off of it.
that was 10 years ago tho.
i am not a gambler by nature, even tho i am self employed and take
risks in that regard. the cpa i use just does my monthly sales,
sales tax and other taxes owed. not sure if he is knowledgable in
what i am thinking, but neither am i.

looks like the best bet is to search out someone who does this for a
living.

quick math has me making about 7k a month if i put it in a bank abroad,
without having to pay taxes on the gains. thats @ 7%.

thanks for the link to the investing forum MsPerky.

have a good day

RC - Ryder

I agree that an investment advisor is your best bet. The relatively new instruments called Life Cycle funds offer hands-off investing that is pegged to market indexes and can be purchased without loads. They are mutual funds and , as such, do not tend to result in maximum gains.
There is a good reason why so many foreigners invest in fixed US financial instruments. Unless countries like Mexico and Brazil suit you, countries like Japan will give you a return of about 1/2 to 1-2%. Plus, what makes you think that foreign gains are not taxable?
Good hunting though.

ralper

Be very careful about the taxation on foreign investment. In general income earned abroad, unless specifically exempted, is taxable. Make sure you ask your CPA about this. If he doesn't know, have him do some research or find someone who does. Don't fall into a trap.