Monday, September 29, 2008
Thoughts From My Imaginary Financial Advisor
The market has been up and down like parishioners at a Catholic mass lately. After today's stock slaughter, I think it may be time to start looking to unconventional methods of money management. Here are a few maverick ideas you won't find in Smart Money. (Why a picture of the Geico Gecko? I imagine if he were my financial advisor, he would endorse these ideas.)
Offshore accounts. I found a bank in New Zealand offering 8% interest. But do your homework. Make sure your foreign safe haven is not run by a Nigerian prince.
Start a religion. It worked for Scientology founder L. Ron Hubbard. As for a name, I'd definitely leave science out of it. Consider something short, snappy and inspiring, like Jebucks. It combines the notion of Jesus, money and coffee. I'm seeing a place of worship on every corner.
China continues to be a rapidly expanding market. I predict the next growth sector there will be the development of cheap alternatives to melamine.
Open a pawn shop. This is an area ripe for expansion as people begin selling off their espresso makers and big screen TVs to make their house payments.
Invest in survival gear. At the rate we're going, it can't be long before this market is exploding.
Two words: alcoholic Beverages. I expect alcohol sales to rise dramatically over the next few months. Put your money in Seagrams. And look both ways when crossing the street.
If you really just want to hide your cash somewhere safe, forget the mattress. Put your money in a cave in Tora Bora, then move it to Pakistan.