- Messages
- 2,059
- Reactions
- 2,553
I own a fair ammount of real estate. Used to play the stock market but a few risky bets lost me a lot of money so now I generally stay away.
Real estate seems like a good thing, the houses I own have been good to me.
But what concerns me is the political climate. We've seen the government in cypress steal money from peoples accounts recently.
It's only a matter of time before they steal it from our bank accounts, and they have been discussing rolling our 401K's into government managed accounts. PFFFT!
In any case, a few years ago I cashed out my 401K and paid cash for a house. Seems great, right? Maybe...I pay $5,000 a year in property taxes alone between two houses I own.
What's to say they don't increase property taxes too? I could be paying 10-15K a year if that happens. And if I don't pay, they take my investments!!
-So the stock market isn't safe; it's rigged and too volatile....you could end up investing in an ENRON and lose everything. Or the market could just tank in general. It's been too volatile the last 5 years.
-Bank accounts and retirement accounts aren't safe from the government.
-Precious metals such as Gold and Silver. I'm not convinced they are such a great bet. I watched Gold drop almost 50% in recent months...also, it is only a way to try to preserve wealth, not necessarily create it.
-Real estate is never safe since failing to pay your property taxes could end up costing you everything.
That leaves the question of, where to put your cash?
-
Real estate seems like a good thing, the houses I own have been good to me.
But what concerns me is the political climate. We've seen the government in cypress steal money from peoples accounts recently.
It's only a matter of time before they steal it from our bank accounts, and they have been discussing rolling our 401K's into government managed accounts. PFFFT!
In any case, a few years ago I cashed out my 401K and paid cash for a house. Seems great, right? Maybe...I pay $5,000 a year in property taxes alone between two houses I own.
What's to say they don't increase property taxes too? I could be paying 10-15K a year if that happens. And if I don't pay, they take my investments!!
-So the stock market isn't safe; it's rigged and too volatile....you could end up investing in an ENRON and lose everything. Or the market could just tank in general. It's been too volatile the last 5 years.
-Bank accounts and retirement accounts aren't safe from the government.
-Precious metals such as Gold and Silver. I'm not convinced they are such a great bet. I watched Gold drop almost 50% in recent months...also, it is only a way to try to preserve wealth, not necessarily create it.
-Real estate is never safe since failing to pay your property taxes could end up costing you everything.
That leaves the question of, where to put your cash?
-