What to do with Cash

Garpal Gumnut · 14 June 2022

More through good luck than skill I am in the position where I have too much cash in AUD as opposed to Stocks and Property.

Most of it is readily available.

What do ASF members in a similar situation plan as strategies for short, medium and long term?

I didn't win Powerball btw., but expect to on Thursday which will aggravate my dilemma.

I'm happy and comfortable, few needs, will travel os but not this year, dislike banks intensely understanding they are a necessary evil, don't want to buy property and my family are not in penury. I have no debts and enjoy playing with stocks in a small trading account and most of my assets are in a reasonable SMSF. I give my fair share to charity and don't expect to live for more than 20 years more going on my ancestors, the last 3-5 in Lala Land. If there is a heaven I will ask for a recount should I not get in and don't fear death.

I do have a plan but would be interested in other ASF members' thoughts.

gg

Sean K · 14 June 2022

Sorry gg, I win Powerball this week.

Long term buying opportunity coming up.

Or, do you have a boat yet?

finicky · 14 June 2022

My behaviour is too erratic to formulate, I'm gambling on specs with money I set aside for a couple of years of living expenses plus something to throw at the market at its nadir.
Regarding mortality, let me suggest avoiding this entirely via a plant based whole food diet:
How Not to Die

finicky · 14 June 2022

P.S Congrats on being so well prepared for this.
- Not dying, the stock market crash

eskys · 14 June 2022

Sean K said:
Sorry gg, I win Powerball this week.

Long term buying opportunity coming up.

Or, do you have a boat yet?

Any suggestion today that anything will float will likely be a piece of turd, they'd say....I'll keep my money, head north end of week to heal and mend, fair dinkum

basilio · 14 June 2022

All on Red at the Casino ?

Appreciate the fact of your current financial security.

finicky · 14 June 2022

@eskys if you haven't sold, you still have the same number of shares. Your plan sounds right.

eskys · 14 June 2022

Sold iron ore last week and WDS on Thursday when I got that dreaded mood, finicky....out of the frying pan into the fire with NST and EVN on Friday

againsthegrain · 14 June 2022

While there is panic, you can either lose it fast or depreciate it slow or bet it on red as said.

Personally I like to cover 0 with 1 chip or on a 00 table have the split on both 0s and cover a few 3 or 4 lucky numbers that haven't come up on the last 30-40 spins along with them hopefully being in a rough section of the roulette wheel that has had the least landings in the last 30-40 spins and let it ride like that for a few 100 bux while I can drink a few beers and soak in the depressing mood of the gamblers around which becomes more glamorous with each beverage.

So if you gamble it, at least try enjoy it

SirRumpole · 14 June 2022

Help the economy.

Travel in Australia and stay in hotels that give employment to people.

Go out to restaurants and cafes often and buy stuff from department stores or small retailers.

Hire someone to paint your house or mow your lawn or make you some furniture or a new suit.

Spend, spend , spend.

tech/a · 14 June 2022

Cars ( GT anything , Toranas in Aust )
Motorbikes
Collectables ( there are many ) books , cards, matchboxes —- endless pick one
Businesses With high capital returns and there are many the super rich do this
Buffet, Bazos , etc
They need not be Super sized
You don’t like property
Well Air bnb owners are killing it

Buy and re sell things

finicky · 14 June 2022

@eskys NST and EVN. I'm in NST and don't mind being stuck in it as long term for me. Believer in the long term gold price and the AUD gold price not too bad at all. NST has gaps down and breaking recent support today though must admit. Overhead 'patterns' for both looking a bit ominous.

Telamelo · 14 June 2022

againsthegrain said:
While there is panic, you can either lose it fast or depreciate it slow or bet it on red as said.

Personally I like to cover 0 with 1 chip or on a 00 table have the split on both 0s and cover a few 3 or 4 lucky numbers that haven't come up on the last 30-40 spins along with them hopefully being in a rough section of the roulette wheel that has had the least landings in the last 30-40 spins and let it ride like that for a few 100 bux while I can drink a few beers and soak in the depressing mood of the gamblers around which becomes more glamorous with each beverage.

So if you gamble it, at least try enjoy it

Good idea covering 0 & 00 at the roulette table with a chip as suggest just follow black or red & double up each time you win (can sometimes get 10-15 consecutive reds or blacks in a row - seen this happen many a time at casino - probability is the same each spin never changes regardless of previous result). Never bet against current colour that's come up - simply follow the trend. Once you double up 4-5 times simply walk away & cash in your chips - then go & enjoy a good drink!

eskys · 14 June 2022

finicky said:
@eskys NST and EVN. I'm in NST and don't mind being stuck in it as long term for me. Believer in the long term gold price and the AUD gold price not too bad at all. NST has gaps down and breaking recent support today though must admit. Overhead 'patterns' for both looking a bit ominous.

Anything can happen tonight, finicky. Pre market up, 294 at this moment, so hopefully, these will get a bit of a reprieve tomorrow? By the way, decision on interest rates is tomorrow night US time, I think

Dona Ferentes · 14 June 2022

tech/a said:
Cars ( GT anything , Toranas in Aust )
Motorbikes
Collectables ( there are many ) books , cards, matchboxes —- endless pick one
Businesses With high capital returns and there are many the super rich do this
Buffet, Bazos , etc
They need not be Super sized
You don’t like property
Well Air bnb owners are killing it

Slow horses and fast women

bux2000 · 14 June 2022

Garpal Gumnut said:
I do have a plan but would be interested in other ASF members' thoughts.

Spose you have never thought of buying a Pub ?

bux

over9k · 14 June 2022

I am currently in the process of deploying 20% of my remaining cash into NRGU each time it dips for what will obviously be the next 5 dips. No idea if/when I'll sell said topups off in the meantime as there's not always an obvious peak to sell on.

explod · 14 June 2022

My Brother who has a good stash took it all out in cash today.. reckons great opportunities coming but under the mattrees for now. No Shares held but thinks the banks could go broke.

finicky · 14 June 2022

Another seminal thread from Garpal Gumnut

Sean K · 14 June 2022

bux2000 said:
Spose you have never thought of buying a Pub ?

bux

Hard to buy a pub under $20m these days. Maybe gg has the means.

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