investing

Investing ideas aggressive and conservative

Use payday loans to your advantage

In this economy, loan fees of 20 percent or higher just do not seem fair. But the fact is, payday loan services is a legal and quite profitable business that does very well when times are bad, Goodman says.

"In hard times like this, more people are going to be using payday loan stores," Goodman says. "There are funds that you can invest at payday loan companies."

If your ethics make you doubt this investment, Goodman says, 20 percent of the U.S. population has no bank account and depends on these payday loan facilities to cash their paychecks.

"You can complain about it or think it's bad, but (people use these) every day," he says. "It's a perfectly legitimate business and you can make money on it in a counter cyclical kind of way."

Goodman adds this is a high-risk investment because payday loan recipients often default on their loans. But it is a "very consistent business, been around a long time and about to get better."

Conservative strategies

Buy silver

Kim Kiyosaki, author of "Rich Woman: A book on investing for women," believes silver is the best investment in the current market. She says a one-ounce silver coin runs about $17.

"What I like about silver is it's a consumable product: It's used in microwaves, light bulbs, cell phones and computers. It's used in everything," she says. "And with India and China coming online, silver demand is going to go up and there is a limited supply. Anybody today can buy a silver coin or bar. The price is very low and I think it's going to go up."

Silver expert Theodore Butler, whose recommendations can be found at Investmentrarities.com, said in a recent interview that over the past couple of decades, recessions have coincided with some of the best silver price rallies. "A recession shouldn't be a negative for silver," he says.

Invest in big, consistent companies

Warren Buffett once said you should be greedy when others are fearful and fearful when others are greedy. Right now, people are fearful.

Charney says that's a good thing for long-term investors.

“The low dollar makes them very good in the international markets.”

"U.S. stocks are going to come back, primarily large cap companies like McDonald's and Coca-Cola," Charney says. "The low dollar makes them very good in the international markets. And they haven't really moved, rebounded since 2000. In the late '90s, it was the large cap stocks that were the place to be. But since then, they've not come back."

As for mutual funds, Charney says to continue looking for the bigger companies that are in the S&P 500 or the Nasdaq 100 -- the largest stocks.

Charney says to consider funds with health care and technology sectors, but shy away from some foreign funds.

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"I'm not real keen on India and when you look at like Europe and Asia -- developed markets -- they haven't had a big run," he says.

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