Thread: Saving money instead of spending on my car...

With the way the market is right now, it's a horrible idea to invest because you don't know when it will go up or down, however, as history shows when the market crashes it goes up, and it goes up fast!!! People got rich in the late 80's riding the stock market after it had a crash then.

I guess what I'm asking is instead of spending money on car parts, and making a fast car, I'm thinking about saving it, and come late December, reinvesting it into the market in hopes I'll bank in at a low. I know no one can tell when it will go up again, if at all, but December, from my research seems roughly like what would be a good buy in time. They suspect that the market could slowly start to recover next spring and summer, and maybe within 2-5 years rocket up as history shows.

Again this is merely hedge fund and stock analysts that say this, and as the record shows..... they've been less than accurate on much of the market.

In news, safes have been the new hot product as of late. Everyone has been pulling their money out of all their accounts and putting it in a safe. Sound familiar??? This is what happened when people heard of the market crashing in 1929, and it really plummeted after that. The dow almost hit another 700 points in the negative today.

I think I'm going to stash my money (all of it that I can) and start investing and risking it in a few months. Sound like a plan?

Also to add, anyone who likes gold, it's at the lowest it's been since the 70's. Go snatch up those bars, I know I will be!

That's as good as a stock if you ask me!

its always a good idea to save money instead of pour it into a car that wont ever look as nice or be as fast as someone elses car on the street, but we do it anyway.

as far as gold..its like old people jewelry. i dont want a gold wedding band. i want silver/platinum/white gold.

gold for investing... haha

i consider my car and investment..lol

yeah right, thats what i tell myself. i always think, well i can sell it later..but these cars are getting old, and soon no one will want to buy parts for them.

I just consider the parts for my car as non liquid assets. I buy used so that when I eventually sell them I'm loosing little to no money. So basically I'm technically "saving", building, and enjoying my car at the same time .

Originally Posted by Quicklynx

Also to add, anyone who likes gold, it's at the lowest it's been since the 70's. Go snatch up those bars, I know I will be!

That's as good as a stock if you ask me!

Put your money where your mouth is, and get grillz!!!

On a more serious note, your plan sounds like a good one. I have a decent amount saved up, and I'm just trying to time it for when the market hits rock bottom.

I cant think of a better time than now to be buying up stocks. The DOW has lost around 40%. That means there is a 40% off sale going on now. Though I think it worth watching for a bit and see if it will go any lower. At this point I dont see it going below 7000. What makes this so good of a deal is that normally if the dow were to drop this low there are a lot of people out there with investment capital that would be taking advantage of this and buying up huge blocks of stock, but this time around, those people dont have that kind of capital so there is a lot of room for everyone to get in on the sale.

I personally believe we are getting ready to see the greatest transfer of wealth we may ever see and its going to slide down to the middle class more than the elite. The people that did not go in on sub-prime loans, interest only loans and so on, the ones that have been saving their money and living within their means are getting ready to take advantage of the Wall Street blue light special. Its like Wal-Mart took over wall street and rolled back prices.

I also believe we are in the middle of a huge huge market shift due to the drive for renewables. Wind, Solar, etc and I think we are going to come out on the other side of this and see that those companies are going to be the money makers and the wise investments.

If you look at it historically, anytime we have had such shake ups in our economy was from fundamental shifts in such things. We saw it when we moved from an agrarian society to industrial, from industrial to technological and so on. We are now shifting from fossil based fuels which as everyone knows is a HUGE industry and we are moving to renewables with an increased vigor.