Location: INDIA (sometimes Canada)
Posted on: 24-11-08 18:45:29
now we all see that recession is here?? but It is a kinda more confusion in financial market. As I see that everything is going down e.g. stocks, oil, gold, bank interest rates, many currencies, real estate etc etc... Further many of these investment are much more risky than in normal times..
So, my question to wise Canadian Desies is where do we put our money in these times. I am not talking about the huge amount of previous investments. I am asking where do we put our current monthly savings from this month onwards??
Thanks to all in advance...
-----------------------------------------------------------------
Enjoy Happiness -- Happy from India
Quote:How about good ol' cash?
Originally posted by Happy
I am asking where do we put our current monthly savings from this month onwards??
All indications are that this may become a deflationary recession instead of an inflationary one, so cash will be king.
-----------------------------------------------------------------
"Mah deah, there is much more money to be made in the destruction of civilization than in building it up."
-- Rhett Butler in "Gone with the Wind"
Location: INDIA (sometimes Canada)
Posted on: 25-11-08 11:42:36
So, Does it mean that we should sell the assets like car, gold, home etc to get the cash now. and buy these things again after a couple of years??
-----------------------------------------------------------------
Enjoy Happiness -- Happy from India
Quote:
Originally posted by Happy
So, Does it mean that we should sell the assets like car, gold, home etc to get the cash now. and buy these things again after a couple of years??
I think your question was : "I am asking where do we put our current monthly savings from this month onwards??" and not "where to invest after selling assets".
Quote:That's not what I meant, obviously.
Originally posted by Happy
So, Does it mean that we should sell the assets like car, gold, home etc to get the cash now. and buy these things again after a couple of years??
-----------------------------------------------------------------
"Mah deah, there is much more money to be made in the destruction of civilization than in building it up."
-- Rhett Butler in "Gone with the Wind"
Quote:
Originally posted by Happy
So, Does it mean that we should sell the assets like car, gold, home etc to get the cash now. and buy these things again after a couple of years??
Why not???
If you can commute by public transport everywhere you want to go, sell your car.
If you can live rent free for a year or two, sell your house.
The other two will give you more cash savings, which as advised by Pratik, you should keep in cash
Gold - that is a tricky one - it could go up after you sell!
I hope the above makes sense, as it is meant to.
-----------------------------------------------------------------
Chandresh
Advice is free – lessons I charge for!!
Location: INDIA (sometimes Canada)
Posted on: 26-11-08 04:21:47
I feel that selling assets to get the cash is as risky as buying the unknown stocks in this market.
I talked to a chinese guy, he said that he is tracking the recession events very closely and suggest not to take any buying-selling transactions inshares, property or gold now. just keep the cash in GIC and the best is divide your cash in CAD, USD, Euro, UK Pound and YEN and get GICs in these currencies that way you can minimize the currency risk during the recession time. He called it currency diversification.
Can anyone suggest a better strategy than the above mentioned, during this recession time?/
-----------------------------------------------------------------
Enjoy Happiness -- Happy from India
