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re: What to do with $159,000

Posted on 7/28/23 at 6:58 am to
Posted by CHGAR
Haile, LA
Member since Aug 2022
943 posts
Posted on 7/28/23 at 6:58 am to
By a pick up truck, boat, and a side by side. Seems to be how all windfalls are spent here.
Posted by KillTheGophers
Member since Jan 2016
6585 posts
Posted on 7/28/23 at 6:58 am to
Pay taxes
Take grandkids on nice vacation
Put the rest in money market - take monthly interest and put into low cost sp500 fund each month
Posted by notsince98
KC, MO
Member since Oct 2012
20067 posts
Posted on 7/28/23 at 9:00 am to
Hookers and blow is always a solid choice.
Posted by Broken Ear Glen
Baton Roog
Member since Mar 2010
1320 posts
Posted on 7/28/23 at 2:41 pm to
quote:

Actually don’t need to as I bought the house for $155,000 in 2010 so no capital gains after depreciation.


you saying you paid the loan off in 13 years between you living in it and then renting it the last 4?
Posted by LSURussian
Member since Feb 2005
130839 posts
Posted on 7/28/23 at 4:12 pm to
quote:

What to do with $159,000
I'd pay off my wife's credit cards as far as it would go...
Posted by Drizzt
Cimmeria
Member since Aug 2013
14371 posts
Posted on 7/28/23 at 6:00 pm to
No. Here’s the math. Bought in 2010 for $155,000 with 30 year mortgage. It was FHA so minimum down. Refinanced to 15 year around 2015 at 2.75. I always paid a few hundred extra to monthly. Moved out 2018 after renovated new house. Started renting in 2019. Sold for $232,000 but had to do some repairs, paid realtor, and had around $55,000 left on mortgage. Cleared $159,000. And I thought I overpaid in 2010.

I appreciate all the responses. Think I’m going to get the wife a new boob job and put the rest in stocks. Win win.
Posted by NewIberiaHaircut
Lafayette
Member since May 2013
12052 posts
Posted on 7/28/23 at 7:35 pm to
quote:

Think I’m going to get the wife a new boob job and put the rest in stocks.


Start hiding cash for the divorce now.
Posted by OTIS2
NoLA
Member since Jul 2008
51445 posts
Posted on 7/29/23 at 7:52 am to
What does RTV mean?
Posted by DaBeerz
Member since Sep 2004
18021 posts
Posted on 7/30/23 at 9:14 pm to
quote:

Start hiding cash for the divorce now.


ha! You got that right, women don’t want those new things for their husbands
Posted by Ric Flair
Charlotte
Member since Oct 2005
13821 posts
Posted on 7/31/23 at 12:26 am to
quote:

Just put $80,000 into an apartment being built for tax write offs


Can you tell me what this means? Details of the deal? Benefits tax wise (1031?)
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