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Lawsuit settlement money about 350k

Posted on 8/5/24 at 8:11 am
Posted by ChatGPT of LA
Member since Mar 2023
4538 posts
Posted on 8/5/24 at 8:11 am
Love to hear ideas on how to manage.

Details.
I'm 57 and single in Louisiana
2 kids...girl sophomore in college , boy in 6th grade
Posted by rowbear1922
Houston, TX
Member since Oct 2008
15759 posts
Posted on 8/5/24 at 8:11 am to
Load up on cheap stocks in about 30 mins
Posted by MrJimBeam
Member since Apr 2009
12963 posts
Posted on 8/5/24 at 8:12 am to
All in on NVDA
Posted by UltimaParadox
North Carolina
Member since Nov 2008
51477 posts
Posted on 8/5/24 at 8:13 am to
In serious definitely not enough information about you situation to help you here. If you do not wait to go into details on a public message board I suggest finding yourself a fee only financial advisor
Posted by OldSouth
Folsom, LA
Member since Oct 2011
10993 posts
Posted on 8/5/24 at 8:13 am to
Give it back to the rest of us who are paying for it?
Posted by Dawgfanman
Member since Jun 2015
25890 posts
Posted on 8/5/24 at 8:13 am to
More details needed. Are you flush on retirement savings, kids college, emergency fund? Do you have debt?
Posted by castorinho
13623 posts
Member since Nov 2010
86565 posts
Posted on 8/5/24 at 8:25 am to
congrats on the timing
Posted by MrSpock
Member since Sep 2015
5067 posts
Posted on 8/5/24 at 8:31 am to
DCA that stack into QQQ over the next 4 weeks.
Posted by jb4
Member since Apr 2013
13694 posts
Posted on 8/5/24 at 9:04 am to
Maybe invest in another lawsuit
Posted by DVinBR
Member since Jan 2013
15266 posts
Posted on 8/5/24 at 10:10 am to
all in on pepecoin
Posted by Sterling Archer
Member since Aug 2012
8246 posts
Posted on 8/5/24 at 10:24 am to
What do you have saved? How much in 401k, IRA, taxable accounts, debt, any pensions? How much is your home worth? Equity?

Need a lot more details
Posted by Weekend Warrior79
Member since Aug 2014
20780 posts
Posted on 8/5/24 at 10:29 am to
Without any details, I would consider paying off any non-mortgage debt. Help daughter with college (if not already doing so), fund son's college fund (if not already doing so), plan a really nice family vacation (hit a bucket list item), invest the rest (have no input on investments).
Posted by ChatGPT of LA
Member since Mar 2023
4538 posts
Posted on 8/5/24 at 10:54 am to
quote:

Are you flush on retirement savings,


No

quote:

kids college


Not exactly for the 6th grader. He does go to private (7k yearly)

Daughter is pretty solid w tops and pel.

quote:

Do you have debt?


Not much. 10k on a vehicle left to pay, probably knock that out immediately (13% rate)

Posted by slinger1317
Northshore
Member since Sep 2005
6861 posts
Posted on 8/5/24 at 11:01 am to
Pell grant and a 13% auto loan

You sound like the type to get a settlement. Keep your current lifestyle up, you won't have to worry about this money for long
Posted by theRealJesseD
Member since Nov 2021
4540 posts
Posted on 8/5/24 at 11:18 am to
Tree fiddy for the win
Posted by ChatGPT of LA
Member since Mar 2023
4538 posts
Posted on 8/5/24 at 11:45 am to
quote:

You sound like the type to get a settlement.


Wow. OK, didn't think this was the OT. Congrats on your judgment. Dick.

The 13% is an unsecured loan, with an refinance clause where I can drop a large amount, and for $50 they recalculate the payment and %. When you're building an 19 yr Olds credit, this is a perfect safe way to accomplish. It's not paid off intentionally, assclown. It's 2 mos old, and has to be 3 before I can inact the lump sum payment.

Her mother has a disability. So she resides with her to help. She went to a 20k per year high school, has scholarship $, and tops. If there is any left, Pel or some other miniscule $. Point was, college covered. She was all district, metro, etc in her sports and is now going to be a CRNA, cited hardest curriculum at her university. She has 40 credits after 1st year, including dual enrollment and summer. She owns her own vehicle and llc w condo under it.
On your best day, your daughter would struggle to keep up . Strike that, you couldn't keep up.

Personally, after a surgeon caused permanent facial paralysis, 12 fricking years ago, yeah, I get a measly 350. Forget the other 6 surgeries needed since.

I have no debt, just wanted ideas what others would do, given the current environment. My plan is pretty much completed, but I like hearing others, because I know I don't know everything, like you do.
God bless you

Sad day when the money board has guys like you on it.
Posted by Crescent Connection
Member since Jun 2008
2318 posts
Posted on 8/5/24 at 12:08 pm to
$15k now and another $15k Jan 1 for your youngest in a 529.

$50k now in VOO
$50k now in VGT

Repeat in 8 months.

The rest in high-yield savings. Pay off any debt.

Take a nice trip.
Posted by Big Scrub TX
Member since Dec 2013
38521 posts
Posted on 8/5/24 at 12:18 pm to
quote:

Lawsuit settlement money about 350k
As always, impossible to make appropriate recommendations without understanding the size of your denominator.
Posted by theblock
Member since Jul 2024
9 posts
Posted on 8/5/24 at 1:22 pm to
quote:

Lawsuit settlement money about 350k


Car accident?
Posted by Double Oh
Louisiana
Member since Sep 2008
23355 posts
Posted on 8/5/24 at 1:33 pm to
quote:

Are you flush on retirement savings,


No

quote:
kids college


Not exactly for the 6th grader. He does go to private (7k yearly)

Daughter is pretty solid w tops and pel.

quote:
Do you have debt?


Not much. 10k on a vehicle left to pay, probably knock that out immediately (13% rate)


Privacy•



Pay the car note off immediately.

Set aside enough for the boy till he graduates.

Invest the rest in either some mutual funds or a couple stocks
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