Calibreeze, I'm with web-fanatic on this one. Go with the long tern assets like stocks in companies you know will survive this recession. This is how people got rich after the Great Depression years ago.
Should I look into banks? And long-term as in 20+ years? Sorry I'm young and still reading up on most of this
Hi Calibreeze, Apologies for just now responding to your question. I've been very busy these past couple of days, and didn't see this particular thread. I wouldn't invest in the banks at the moment. There is too much going on with them right now. If I invested, I'd invest in technology, including utilities if you live in the US. Realestate is good too at the moment for investors, but the problem there is investors are stuck paying taxes and utilities until the market starts to rise again. Yes, I'd say at least 10-20+ years. It's going to take a few years for this economy to come back, so you have to take that into consideration. It will get a lot worse before it gets any better I'm afraid, so we've just seen the beginning of the economy crisis. Hope this helps ... Mary
Honestly, If I had $50k in a CD right now and I could cash it in, I would! I have stumbled on a niche concept that is absolutely fool proof in my area! There is only one single competitor within my state doing this and they bring in 30,000 vehicles in just 8 weeks doing the same thing (their version) at $18 a car. So if I could cash in the CD, I would then buy the materials I need to setup this concept in the Central and Eastern Part of my state, and draw in traffic that is WILL come. The investment would net the concept just over 1.2 MIL in 5 years. Each year from the start up to the 5th year would continue to grow in net. So yeah, that's what I would do with it.