Australian (ASX) Stock Market Forum

What to do with Cash

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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.

I have heard this also in regards to car washes but no first hand proof unlike you just confirmed. I am always trying to find a case for car washes becoming obselete. Can't think of anything yet.
Ev vehicles get dirty just like petrol
those wash systems are pretty green with water recycling etc so won't get shut down being a water waster.
I guess in a recession people spend less but a few bux into a washing machine doesn't seem like a big deal to most.
 

tech/a

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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.

Back of Drink Coaster calcs

Say Pay $2 mill
Valuation 4 x Nett profit So $500K nett
A really good business would make 20% nett on T/O
So would be turning over $2,500,000 or so.
Not impossible but you can play with the numbers.

Oh, and it's a lot of cash to be carrying around!
Would raise some suspicion Id think.
 

moXJO

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I have heard this also in regards to car washes but no first hand proof unlike you just confirmed. I am always trying to find a case for car washes becoming obselete. Can't think of anything yet.
Ev vehicles get dirty just like petrol
those wash systems are pretty green with water recycling etc so won't get shut down being a water waster.
I guess in a recession people spend less but a few bux into a washing machine doesn't seem like a big deal to most.
So the guy I know has a small drive through bit he built to try and value add. He tried selling, food, coffee etc. And it all bombed.
I was going to suggest vending machine car detailing products/parts, but haven't seen him in ages.

But it's a great cash flow business. Being close to the ocean helps as the salt builds up on cars round here.
 

moXJO

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Back of Drink Coaster calcs

Say Pay $2 mill
Valuation 4 x Nett profit So $500K nett
A really good business would make 20% nett on T/O
So would be turning over $2,500,000 or so.
Not impossible but you can play with the numbers.

Oh, and it's a lot of cash to be carrying around!
Would raise some suspicion Id think.
He started at the right time. And imo timing makes a huge difference.

There was a time where you could rent a shop, fit out a Cafe and then sell it for double. Rinse and repeat. That time has passed.

Same with the guy I knew who spent $1million on a crane and made a motsa.

You can make money off anything so long as it's setup to feed a corresponding boom.
Get the timing wrong and you are one of those bankruptcy statistics.
 

over9k

But first, let me consult my goldfish
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Laundromats are another. And almost no time spent on them as all you do is empty the cash each day.
 
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I'm starting to invest in next years' profitable portfolio. Too late to salvage this year.

ETFs - 15% - GEAR Buy on massive down days (3 x 5%) 1x today
Banks - 20% - MQG, CBA
Assorted Industrials - 15% - PTB, NWH, CDA, CXL, ELE

Nickel - 12% - NIC, MCR, PAN
Lithium 12% - AKE, PLS, CXO
Copper - 10% - OZL, 29M
Rare Earths - 8% - LYC (4%), ARU, IXR
Assorted Minerals - 8% - JRV, COB, BOE, PDN
 
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He started at the right time. And imo timing makes a huge difference.

There was a time where you could rent a shop, fit out a Cafe and then sell it for double. Rinse and repeat. That time has passed.

Same with the guy I knew who spent $1million on a crane and made a motsa.

You can make money off anything so long as it's setup to feed a corresponding boom.
Get the timing wrong and you are one of those bankruptcy statistics.
Back in the day (timing as you said is everything) know of some people who made a motza with a roaring pizza shop, fish & chips shop and another did very well in icecream/gelato business too.
 

Craton

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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
Learn to SKI
Spend (the) Kids Inheritance! ;)
 
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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.

In all seriousness, give any excess to your children. No they may not be in penury but everything being equal they should be around longer than you will be and the funds, depending on how they use them, could be more beneficial to them in the long term especially if they also have children.

Some thoughts:

Set up an education fund, etc so they get some assistance at Uni should they decided that is what they want to do; or​
buy shares/etc under a bare trust arrangements with the children as the beneficial owner using DSSP maybe available from AFI, MIR, WHF and probably but be alert to what is administrative arrangements are necessary once they turn 18 and ask for transfer of legal ownership (it's not difficult but it isn't straightforward either.)​
 
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In all seriousness, give any excess to your children. No they may not be in penury but everything being equal they should be around longer than you will be and the funds, depending on how they use them, could be more beneficial to them in the long term especially if they also have children.
Some parents from the older years can't seem to get their head around this concept, thus the ski attitude, despite bringing offspring into this world.
 
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Some parents from the older years can't seem to get their head around this concept, thus the ski attitude, despite bringing offspring into this world.
I think helping the adult kids is admirable, as long as the adult kids are showing a degree of maturity, handing money to adult kids to support a drug habit, or to supplement completely indulgent spending, seems a bit misplaced IMO.:2twocents
 

Knobby22

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Join the local racing club.
Buy a couple of racehorses, a top hat, a coat with green stripes and see if you can win the local cup.
 
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Join the local racing club.
Buy a couple of racehorses, a top hat, a coat with green stripes and see if you can win the local cup.
For what that costs you could buy 20 greyhounds and have one race every night, a lot more fun.

A Million dollar race coming up in Sydney in two weeks, probably be won by a pup that cost $5,000 or less to buy, good odds ;)
 
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