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Started By
Message
re: Is $100,000 (one time payment) life changing money?
Posted on 6/13/24 at 5:29 pm to Blast from the past
Posted on 6/13/24 at 5:29 pm to Blast from the past
Not enough information. Investment timeline? House debt? Credit card debt? Pre or post tax? Mortgage debt and timeline? Other?
Do you have enough money discipline to invest and leave it alone?
Assuming post tax and a 20 year investment timeline, 100K invested with no additional contributions is:
~265K at 5% (short term T-Bills)
~466K at 8%
~673K at 10%
~964K at 12%
Some stock market investments are returning well over 12% this year. Fidelity's FBGRX fund is up 27% ytd. FXAIX is up almost 15% ytd.
If the $100K will pay off your home, you might do that first. Then take the house payment and pay off any other debt. Then start saving/investing.
Defaulting on unsecured debt (credit cards) will not impact you like defaulting on a mortgage. Both are bad, but losing your house would be a nightmare.
Do you have enough money discipline to invest and leave it alone?
Assuming post tax and a 20 year investment timeline, 100K invested with no additional contributions is:
~265K at 5% (short term T-Bills)
~466K at 8%
~673K at 10%
~964K at 12%
Some stock market investments are returning well over 12% this year. Fidelity's FBGRX fund is up 27% ytd. FXAIX is up almost 15% ytd.
If the $100K will pay off your home, you might do that first. Then take the house payment and pay off any other debt. Then start saving/investing.
Defaulting on unsecured debt (credit cards) will not impact you like defaulting on a mortgage. Both are bad, but losing your house would be a nightmare.
0
Posted on 6/13/24 at 6:32 pm to Blast from the past
Yes.
Posted on 6/13/24 at 7:32 pm to Blast from the past
No, I got half of that in my bonus last year. Its nice to pay off things but its far from life changing.
Posted on 6/13/24 at 7:43 pm to Blast from the past
quote:
Is $100,000 (one time payment) life changing money?
No
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