What would you do???

[MyMustang]

With 10,000$..Kinda a hypothetical question but just was wondering what would be the best way to spend 10k... I mean like along small business lines etc. (really not met to be on car stuff, not unless it will generate more $$!)

[yzingerslinger]

Money markets or put 2500 dollars a year into a Roth IRA account.

[jpilone]

Two Words: Las Vegas

[Thunderbolt]

Originally Posted by jpilone

Two Words: Las Vegas

Flush Toilet.

[Genghis Mach]

Fix my roof.

[GR8 WYT]

bullets, beans, guns, precious metals.

ALL guranteed to rise in cost over the next 6-12 months. Trust me...

Stay away from stock market, bonds, mutual funds, etc.

If'n it were me....$5k in silver American Eagles, $5k in .22 ammo (the currency of the future)

[Thunderbolt]

I'd put $7,500 toward my mortgage, and spend $2,500 on a couple new tv's and some wall pictures or paintings.

[4a7191a]

fix my roof too. lol buy more silver with the leftovers

[acreature]

Ecstasy and Rubbers.































j/k

[rsnider]

Google Dave Ramsey.

[MyMustang]

Well some good advice there haha.... Deffinately no Vegas i don't have good luck... But I've pretty much been into purchasing gold for a while now but a lot of people say silver is good investment....Any more ideas?!?!?? I have alot of carpentry experience from trim to house framework... I was thinking about maybe building fish and qui ponds (don't know if i spelled that right) but those are popular in FL. I just want to start small business... I even considered sand blasting and powder coating. That "going green" thing is popular also..All advice is much appreciated, Thanks!

[rsnider]

Originally Posted by MyMustang

Well some good advice there haha.... Deffinately no Vegas i don't have good luck... But I've pretty much been into purchasing gold for a while now but a lot of people say silver is good investment....Any more ideas?!?!?? I have alot of carpentry experience from trim to house framework... I was thinking about maybe building fish and qui ponds (don't know if i spelled that right) but those are popular in FL. I just want to start small business... I even considered sand blasting and powder coating. That "going green" thing is popular also..All advice is much appreciated, Thanks!

Re: Gold and Silver... Read up on China's purchase of a couple hundred tons of silver. It is effecting the silver market.

Re: koi ponds... I've built three koi ponds and have raised koi for over fifteen years. PM me for my email addres if you decide to pursue.

Re: Sand blasting... the EPA has slapped a lot of regulations on the process. Silica sand is a big no no now. There are other medias that are used. On the other hand powder coating is really popular in a lot of manufacturing. Be prepared for high energy bills. Those large ovens eat up a lot of $$.

Isn't it interesting that there is so much thought that goes into the simple use of $10k. Imagine how much stress there must be if your personal finances are worth big money.

[acreature]

Hell, being in Florida; pressure washing those large tile roofs would be a handy business.

[rsnider]

I've always been attracted to small businesses with a lot of control over where/when the hours could control your life. It's also attractive to have very little capital investment at start-up. The roof washing idea sounds good.

Arizona has small business groups of retired owners that mentor. Call your Registrar of Contractors and see if they can give you a contact of such a group. They are VERY helpful. They also have a proven track record.

[MyMustang]

I looked for something similar to the registrar in FLA but no luck...anymore ideas beside pressure washing that's one I'm keeping in mind...I thought about fish ponds..also I'm one he'll of a carpenter. So ideas please!!! I'm ready to do my own thing!!!!

[rsnider]

With all of the retired business owners in Fla. there MUST be a group that you can contact? Keep looking, they are your best bet.

[rsnider]

My wife just told me that she thinks the acronym is something like S.C.O.R.E.

[01SteedaGT]

Originally Posted by MyMustang

I looked for something similar to the registrar in FLA but no luck...anymore ideas beside pressure washing that's one I'm keeping in mind...I thought about fish ponds..also I'm one he'll of a carpenter. So ideas please!!! I'm ready to do my own thing!!!!

What's your background in? I know you say you are a very good carpenter but has that just been a side job/hobby or have you done it professionally? The reason I ask is that there is a huge difference between doing something on the side or as a hobby compared to doing full-time and being self-employed.

What is your family life like? Do you have their support? This is going to take a lot more of your time, money, and resources. If you are looking to start something for $10k, then plan on spending atleast $20k. Rarely do start-ups begin generating money immediately. So, take that into consideration as well. Can you afford to live with little to no income for the next few months... or the next year... These are all risks to consider in owning your own business.

I'm not trying to discourage you, just simply playing devil's advocate. I work quite a bit with entrepreneurs and people looking to start their own business, as well as, current business owners. Have you thought about buying a business in your area that already has a customer base, reputation, equipment/supplies, employees, etc.? Granted it would be more $10k but it is a buyer's market right now and just like anything else, there are deals to be found on current businesses.

I apologize for the long response, but I too would love to have my own business one day, but given my current financial and family situation, it is out of the cards at the moment.

Give us some more information regarding your background and previous experiences & contacts, and maybe it will spark another idea to think about.

[DSG2003Mach1]

in orlando the advisory groups are frun by the SBDC - small business development center, not sure if theres one up there or not

I guess we need to know what you want to accomplish...are you like semi-retired and want to do some side work or trying to build a big dollar company?

My concern with your ideas so far, especially in this economy, is that they are all discretionary income based. When times get tough, luxury items go first and then down the list. My family is in the commercial trash/recycling business, while in times like these theres less trash to pickup but there will ALWAYS be trash and people MUST have the service

[01SteedaGT]

Originally Posted by DSG2003Mach1

in orlando the advisory groups are frun by the SBDC - small business development center, not sure if theres one up there or not

I guess we need to know what you want to accomplish...are you like semi-retired and want to do some side work or trying to build a big dollar company?

My concern with your ideas so far, especially in this economy, is that they are all discretionary income based. When times get tough, luxury items go first and then down the list. My family is in the commercial trash/recycling business, while in times like these theres less trash to pickup but there will ALWAYS be trash and people MUST have the service

+1 Very good comments here. Knowing what you want to accomplish is the first step.

Trash/Recycling Centers in our area are booming. We have quite a few buyers who are ready to pull the trigger on one.

[MyMustang]

Deffinately some good advice and stuff to look into I deff app it. As far as my carpentry experience it's all professional (residential housing, porches etc.,including punchout). Prior to being of age to work, my grandpa owned a small wood shop, so a couple years of furniture and fine trim work. As far as being semi retired it's quite opposite I'm lookin to retire from the business I start! I'm only 24. My family backs my choice but financially it's just me. I currently own a small business where I'll by and refine gold but I don't have a store front. I kno that there's so much competition in it that I don't feel like opening a store front. It's generated some money but nothing major. Just took while to save the money I want to spend it right. Lets call it 15k if that wi change things a little!

[Shane@TM]

ford stock is in the low 10's, buy that **** before it gets back to 15. profit $$$$

[NastyNate]

OP im kinda in te same boat as you ... Ille be getting 30k at the end of Sept. im gonna use 10k to pay off my debt and prolly 10k toward the mach. Im think about buy 10+ acres out here in Nor cal or possible investing the last 10 in mutual fund or other investment. I dont have the slightest clue about safe investing... and pros out there

[TEXASDSGMACH1]

Cocaine off a hookers ***.

[MyMustang]

Originally Posted by NastyNate

OP im kinda in te same boat as you ... Ille be getting 30k at the end of Sept. im gonna use 10k to pay off my debt and prolly 10k toward the mach. Im think about buy 10+ acres out here in Nor cal or possible investing the last 10 in mutual fund or other investment. I dont have the slightest clue about safe investing... and pros out there

Are you saying you can get that land for 10k??? That sounds like a good investment to me!

Bail bonds or bounty hunting would be fun. I used to skip trace people for a company and it's real fun to track somone who doesn't want to be found down.