Everyone wants to be a contrarian investor these days. Look no further than your friend’s kid day-trading his life away. Maybe to profitability. But it’s a long way to the finish line.
Tired of hearing the war stories? Then let’s run a test. Ask Mr. Smarty Pants about buying a condo in China. That’s what I thought, “Are you kidding?” will be the typical response. But isn’t yesterday’s drop in stocks a unique buying opportunity? You know, everyone wants to buy the dips, but knowing it’s a dip and not a crater is about as reliable as a fortune cookie prediction. We’ll know what this one is soon enough.
What I do know right now is, there’s a lot of lazy cash sitting around on investors’ couches doing nothing. All of that idle cash could be doing something more productive. I’m not saying throw it at a condo in China. I’m Your Survival Guy, not “Your International Real Estate Agent.” But there might be some ways for you to get your lazy cash working harder for you.
Action Line: You can’t treat all of your cash the same. Just like each member of your family, each chunk of your cash is unique in its own way. But with a little guidance, you can teach them all how to live productive lives. Let’s talk.
Originally posted on Your Survival Guy.