Australian (ASX) Stock Market Forum

What to do with Cash

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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
Doing Nothing is Doing Something!
 

Garpal Gumnut

Ross Island Hotel
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Spose you have never thought of buying a Pub ? ;)

bux
Hard to buy a pub under $20m these days. Maybe gg has the means.
Well, believe it or not in my cotton-pickin' days down around St. George and Dirranbandi I received an offer from some mates to go in to a syndicate to buy the Nindigully Pub which was very, very run down and possibly in receivership. $20,000 for a quarter share. I didn't take it up as I didn't have the money and the payment would have been one of many over the years as it didn't prosper until about 10-20 years ago.

I believe some footballer bought it for a good price sometime in the past. With better roads it is closer to Brisbane than in those days.

I did play on just one occasion for the Thallon-Nindigully First 11, but stood my wicket when our "star" player ran down after hitting an il-timed shot and he was bowled out despite exhortation from the mob for me to run and get run out to "save" him. I was not asked back despite not getting bowled out and not scoring a run which I thought was rather unfair.

This is my only experience with nearly being a publican.

gg
 

Sean K

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Well, believe it or not in my cotton-pickin' days down around St. George and Dirranbandi I received an offer from some mates to go in to a syndicate to buy the Nindigully Pub which was very, very run down and possibly in receivership. $20,000 for a quarter share. I didn't take it up as I didn't have the money and the payment would have been one of many over the years as it didn't prosper until about 10-20 years ago.

I believe some footballer bought it for a good price sometime in the past. With better roads it is closer to Brisbane than in those days.

I did play on just one occasion for the Thallon-Nindigully First 11, but stood my wicket when our "star" player ran down after hitting an il-timed shot and he was bowled out despite exhortation from the mob for me to run and get run out to "save" him. I was not asked back despite not getting bowled out and not scoring a run which I thought was rather unfair.

This is my only experience with nearly being a publican.

gg

A cousin of mine got into the business about 10 years ago and sold earlier this year. He worked his arse off to turn the hotel around, but also timed the market very well. He's very handsomely retired.

This post-Covid-recession-maybe depression period offers up another handsome opportunity.
 
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i look financially unattractive , a strategy devised when i was a teen ( illegally betting on the racetracks , and other venues of chance ) , stopped me from being mugged then , worked just as well later ,

spotting ladies that are bi-polar early was a help as well
 
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LOL. I definitely wouldn't be storing those bottles in the garage. Another State perhaps. But, it actually does have me thinking about investing in some vino... Is there a thread on that?
i went for cognac , however in hindsight maybe i should have been going for some top shelf ( Russian ) vodka
 

Garpal Gumnut

Ross Island Hotel
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I had thought of starting a Church, I'm good at sermonising, but I couldn't bear to take all that money off the believers.

Just out of interest in case ... What is involved in starting a Church in Australia?

Is there a "Stairway Way to Heaven" organisation like ASIC or the ASX that you have to register it with or is it a "lightbulb moment" and off ya go?

gg
 
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Sorry guys but IMO anyone who plays a roulette table that has 0 and 00 on it has no respect for money. Fighting Double the usual rake is not a recipe for success.

Playing penny stocks is a lot more fun

GG you sound like you are well set for now, so the main thing is Do Not leverage anything.

I know two families that have got skewered by leverage, OK when you are 30 ish but not when 60+

It really stuffs up your retirement plans when a margin call turns your $1m into $200k
 

StockyGuy

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Is there a "Stairway Way to Heaven" organisation like ASIC or the ASX that you have to register it with or is it a "lightbulb moment" and off ya go?

gg

Let us know how bible college goes over the next couple years lol.

If you mean more the charismatic cult leader type deal, even being inclined to ask the question in the way you did might disqualify you. It already shows you probably score too high on conscientiousness to be the right sort of sociopathic desperado with nothing to lose.
 
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I had thought of starting a Church, I'm good at sermonising, but I couldn't bear to take all that money off the believers.

Just out of interest in case ... What is involved in starting a Church in Australia?

Is there a "Stairway Way to Heaven" organisation like ASIC or the ASX that you have to register it with or is it a "lightbulb moment" and off ya go?

gg
GG how about parking your money on expensive artwork/paintings ? My old boss invested in an art collection worth millions..
 

moXJO

menace to society
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Better off with one those coin operated car washes 1-2M should do you, good location in summer apparenlt they do well
I know a guy that rakes a huge enough sum to be driving a lambo and a merc from doing this. Has a beach side property as well.

Arts kind of cyclical. It's really what's hot trending, or when there is a lot of spare cash. But really not that great if you ain't an art lover yourself.

Pubs are a tough gig. You need personality to turn these around. Cam make good coin though.
 
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