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Started By
Message
What to do with $200-250K
Posted on 3/11/21 at 11:52 am
Posted on 3/11/21 at 11:52 am
Here's the situation. Selling a house in Houston. Considering what to do with the profits.
I wanted to buy land but it's gotten ridiculously expensive.
Paying down my current mortgage doesn't make sense since I'm already locked in at 2.75%.
Investing it is an option, but once I sell this house, I'll have my entire net worth in stocks minus the equity in my current house.
I've got a decent amount of money in my stock portfolio. I already max out my 401K, my Roth and my wife's Roth, plus put $800 a month or so into a taxable account. Putting a few grand a year into the kid's 529 also.
I guess the question is: buy land even though it seems overpriced (but when will it slow down?), hold cash, which seems pointless, invest in more stocks which is where I already am, or what?
What would the geniuses of money talk do?
I wanted to buy land but it's gotten ridiculously expensive.
Paying down my current mortgage doesn't make sense since I'm already locked in at 2.75%.
Investing it is an option, but once I sell this house, I'll have my entire net worth in stocks minus the equity in my current house.
I've got a decent amount of money in my stock portfolio. I already max out my 401K, my Roth and my wife's Roth, plus put $800 a month or so into a taxable account. Putting a few grand a year into the kid's 529 also.
I guess the question is: buy land even though it seems overpriced (but when will it slow down?), hold cash, which seems pointless, invest in more stocks which is where I already am, or what?
What would the geniuses of money talk do?
20
Posted on 3/11/21 at 11:57 am to ghost2most
Own at least 1 BTC
Posted on 3/11/21 at 12:01 pm to Ross
Well he can only buy five BTC now
Posted on 3/11/21 at 12:01 pm to Ross
If you just want to buy land to hold as an investment, I wouldn't recommend that.
Posted on 3/11/21 at 12:03 pm to ghost2most
Do you have diamond hands?
Posted on 3/11/21 at 12:08 pm to Chucktown_Badger
quote:
If you just want to buy land to hold as an investment, I wouldn't recommend that.
More to build a weekend getaway on.
Posted on 3/11/21 at 12:12 pm to ghost2most
I'd buy Bitcoin and move 2.5 BTC to blockfi and get 6%apy. Leave the rest in my wallet or storage and continue to work as normal.
Posted on 3/11/21 at 12:16 pm to ghost2most
DINARS!!!!!!!!!!!!!!!!!!!!!!!!!
Posted on 3/11/21 at 12:41 pm to ghost2most
I no longer recommend Bitcoin because there is not enough to go around but Dogecoin seems like an attractive alternative from what I've read
Posted on 3/11/21 at 12:50 pm to ghost2most
Payoff your new house. Live without a mortgage. Be extremely less stressed in the day to day
This post was edited on 3/11/21 at 4:57 pm
Posted on 3/11/21 at 12:53 pm to ghost2most
QQQ
Posted on 3/11/21 at 12:57 pm to ghost2most
I'd add it to the stock portfolio. Diversify your holdings; might be worth a visit to a fee based financial planner to review what you already own & chart a path for the future.
Directly owning RE is not for me. Have enough headaches and responsibility in "regular" job to not want any involvement with rentals.
Directly owning RE is not for me. Have enough headaches and responsibility in "regular" job to not want any involvement with rentals.
Posted on 3/11/21 at 12:58 pm to ghost2most
quote:
If you just want to buy land to hold as an investment, I wouldn't recommend that.
quote:
More to build a weekend getaway on.
Problem solved.
Posted on 3/11/21 at 1:03 pm to JDPndahizzy
Maybe I wasn't clear in OP. The house I'm selling in Houston is a rental.
We're already in our current home with a lot of equity.
I have considered upgrading our current home but I hate moving and I have paid off solar panels on this house.
We're already in our current home with a lot of equity.
I have considered upgrading our current home but I hate moving and I have paid off solar panels on this house.
Posted on 3/11/21 at 1:04 pm to ghost2most
quote:
More to build a weekend getaway on.
It sounds like you're doing well enough financially to do this if that is what you want to do. You could always sell it down the road if you needed to. I know you could put that money to work for yourself elsewhere and be better off financially, but man I'd think long and hard about paying off my mortgage. I'd love the peace of mind knowing that if something were to happen to me or my job that I wouldn't have to worry about a mortgage payment
Posted on 3/11/21 at 1:09 pm to jchamil
quote:
man I'd think long and hard about paying off my mortgage. I'd love the peace of mind knowing that if something were to happen to me or my job that I wouldn't have to worry about a mortgage payment
Unless you REALLY value that peace of mind, this is a poor decision financially. He's locked in at a really low rate, and if he can get a 3% annual return with it invested he's better off in the long run. And he could keep it liquid enough where if something did happen to him or his job he could access it.
Posted on 3/11/21 at 1:09 pm to jchamil
quote:
It sounds like you're doing well enough financially to do this if that is what you want to do. You could always sell it down the road if you needed to. I know you could put that money to work for yourself elsewhere and be better off financially, but man I'd think long and hard about paying off my mortgage. I'd love the peace of mind knowing that if something were to happen to me or my job that I wouldn't have to worry about a mortgage payment
If interest rates weren't so low I would be more inclined to do this.
But 2.75?
And I guess I feel like if shite hit the fan, I could just cash in on some of my investments. I could do that and pay my mortgage four fold if it was dire.
Posted on 3/11/21 at 1:20 pm to ghost2most
But 2.75?
--
That's almost free money.
--
That's almost free money.
Posted on 3/11/21 at 1:54 pm to ghost2most
Put it in the market. Low expense index ETFs. I was in similar situation 4 years ago. Sold home but held cash thinking market was frothy and ready for a correction. I missed out on 3 years of gains before gradually investing it all. Lump sum or make a plan to DCA over several months but get it working for you sooner rather than later. Sure, you could hit bad timing but more often than not market rises.
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