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Started By
Message
re: Is $100,000 (one time payment) life changing money?
Posted on 6/10/24 at 6:23 pm to Blast from the past
Posted on 6/10/24 at 6:23 pm to Blast from the past
It wouldn't hurt.
0
Posted on 6/10/24 at 6:23 pm to Blast from the past
I guess it’s all about your current situation whether or not it could change your life
Posted on 6/10/24 at 6:25 pm to Obtuse1
At 4-5% return it should double every 15 years or so. Math could be off.
Posted on 6/10/24 at 6:25 pm to Blast from the past
Absolutely life changing
Posted on 6/10/24 at 6:25 pm to Blast from the past
Add two zeros if you want life changing, FU money.
Posted on 6/10/24 at 6:26 pm to Blast from the past
Very nice, but not life changing. I make good money and don’t carry any bad debt that I need to pay down. I would just put it in an investment account and maybe semi-retire a few years earlier than I otherwise would have.
Posted on 6/10/24 at 6:30 pm to Blast from the past
Yes it can be… I know a guy who 50,000 was life changing at this certain time in his life. Paid it back in 2 years and now makes more than that in a month.
Posted on 6/10/24 at 6:30 pm to Blast from the past
If antique tiger can turn $1 into an expensive vacation, I hope I can turn $100k into something meaningful long term
Posted on 6/10/24 at 6:31 pm to BamaCoaster
quote:
Depends on who you are, where you live, and your age. For 95% of the world, yes.
Yup. Plenty in that 95% would waste it but if used strategically it will move you not inconsequentially in the social ladder
Having no mortgage would be a true gamechanger for most. Though, again, I’ll say that a huge number would just use it as a bridge to their next bad choice
Posted on 6/10/24 at 6:33 pm to Blast from the past
It would transform my life completely. Investor is out and I would have freedom
Posted on 6/10/24 at 6:33 pm to Blast from the past
Hell yeah. You can get a nice damn boat and use that 100k for the down payment and pick yourself up a nice manageable 1000 a month payment on a 15 year note on a badass chick magnet boat and become a star at The Prop Stop and get your face plastered all over the OT like some kind of modern day Steve McQueen.
I'm the unofficial financial advisor for the OT and that's my professional advice.
I'm the unofficial financial advisor for the OT and that's my professional advice.
Posted on 6/10/24 at 6:34 pm to Blast from the past
No. What it will do is allow you to become irresponsible, thinking you have money to bail you out, and then it will be gone.
Posted on 6/10/24 at 6:34 pm to Blast from the past
quote:
Considering you could pay off a substantial amount of debt and potentially increase your monthly take home at that point, I would think it could be considered as such. Curious to know if others feel the same.
Today? Not really, but put in an investment account it could help out down the line. As it stands, I only have 2 debts. One is 2 years remaining on a car note, and the other is substantially more on a mortgage but I definitely wouldn’t use 100k to pay down a marginal portion of a 2.75% loan.
Posted on 6/10/24 at 6:35 pm to Blast from the past
No...don't spend any except to pay debt.
Posted on 6/10/24 at 6:36 pm to Blast from the past
I saw a movie one time called 'Reversal of Fortune' where they basically gave a homeless guy 100K and followed him around. For him he was back on the streets after 3 months. I think he got an apartment and cleaned up but ended up spending too much on partying and a car.
Posted on 6/10/24 at 6:36 pm to Blast from the past
Depends on your current debt and spending habits.
Posted on 6/10/24 at 6:40 pm to Blast from the past
For some, probably.
For most, no…not at all.
For most, no…not at all.
Posted on 6/10/24 at 6:44 pm to Blast from the past
I'm not sure... send it on over and I'll let you know in a few years.
Posted on 6/10/24 at 6:47 pm to Blast from the past
If it’s not expected or regularly occurring then yes I would imagine.
I get bonuses greater than that fairly regularly but we have become accustomed to them so our lifestyle has adapted.
I get bonuses greater than that fairly regularly but we have become accustomed to them so our lifestyle has adapted.
Posted on 6/10/24 at 6:47 pm to Chief Hinge
quote:
VA claim came through? With back pay?
Not yet, and not expecting that much. But I’ve been thinking about it some. What might the number be.
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