- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: About to get somewhat large amount of money and would like advice my current plans for it
Posted on 4/20/23 at 3:51 pm to Big Scrub TX
Posted on 4/20/23 at 3:51 pm to Big Scrub TX
As for rest of my financial situation, we make what I would think is above average income annually and are not living paycheck to paycheck. Total net worth is right at 2.3 Million by my calculations or very close to it. Have A 6 plus month safety net and n savings and 2 other properties that I have good equity in each. Past that no other debt I pay cash for everything and credit card is paid in full every month. It is not my only money and I don’t intend to use it for anything personally. Want it to remain as “retirement money”. Whether that is invested in more real estate, or another business venture or just put into the market, either way I don’t plan on touching much if any of it short term.
And btw it is abundantly clear that paying off my house note is a bad idea. So thanks to all for that. When everyone is telling you to run from an idea it’s pretty eye opening. I like the idea of being house note free but I see what everyone is saying at the same time. So will eliminate that option from this scenario. Thanks again for any and all advice here.
And btw it is abundantly clear that paying off my house note is a bad idea. So thanks to all for that. When everyone is telling you to run from an idea it’s pretty eye opening. I like the idea of being house note free but I see what everyone is saying at the same time. So will eliminate that option from this scenario. Thanks again for any and all advice here.
Posted on 4/20/23 at 7:07 pm to BullredsRus
You could always put $400k for the house payoff in Tbills or some other high yield safe instrument. That way you win twice. Have piece of mind that you could pay it off if you wanted and still earn a couple points on the interest spread.
Heck, you could peel $2k a month off of the $400k to pay your note . That way your still making money on the spread and have $2k/month “extra “ cash flow to invest/spend/whatever.
Heck, you could peel $2k a month off of the $400k to pay your note . That way your still making money on the spread and have $2k/month “extra “ cash flow to invest/spend/whatever.
This post was edited on 4/20/23 at 7:27 pm
Posted on 4/20/23 at 9:44 pm to BullredsRus
quote:Great, thanks for the context. Mind saying how old you are (ish)?
As for rest of my financial situation, we make what I would think is above average income annually and are not living paycheck to paycheck. Total net worth is right at 2.3 Million by my calculations or very close to it. Have A 6 plus month safety net and n savings and 2 other properties that I have good equity in each. Past that no other debt I pay cash for everything and credit card is paid in full every month. It is not my only money and I don’t intend to use it for anything personally. Want it to remain as “retirement money”. Whether that is invested in more real estate, or another business venture or just put into the market, either way I don’t plan on touching much if any of it short term.
If you've got a ways to go, I would think it would be fine to be more aggressive than bonds. I have a couple of good recommendations on mutual funds and public closed-end investment companies that I think are a good way to tread water here with a high positive yield and good upside potential without much downside risk. That's maybe how I would go until there's something more obvious to do in the market itself.
LMK if interested.
ETA: if you're 41, you should be more active than just "this is for retirement" money.
This post was edited on 4/21/23 at 10:31 am
Posted on 8/27/23 at 9:33 am to BullredsRus
Maybe I missed it, what did you end up doing ? Are you satisfied with that choice after doing it?
Popular
Back to top
Follow TigerDroppings for LSU Football News