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Started By
Message
re: Is $100,000 (one time payment) life changing money?
Posted on 6/10/24 at 7:28 pm to Blast from the past
Posted on 6/10/24 at 7:28 pm to Blast from the past
quote:
100,000 (one time payment) life changing money?
Is this taxable or not? That's the difference between $100,000 and $60,000.
Even assuming it's $100k, I would probably put it into a brokerage account and an index fund and let it sit until you need it, or put it toward your house/mortgage if you have or pay off debt.
Life changing, no, would it help immensely? Sure.
0
Posted on 6/10/24 at 7:30 pm to Blast from the past
fwiw...1 $100K CD at a 5.25% APR is worth an average of $15.02 per day or $5482.01 per year. Not life changing but early retirement helping for sure. 
Posted on 6/10/24 at 7:33 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.
Not really for me. I can be debt free anytime I want but chose to keep stuff financed at a lower rate than what I can make on a HYS account.
Posted on 6/10/24 at 7:36 pm to Rize
Subtle brag much????
Posted on 6/10/24 at 7:39 pm to Blast from the past
Yes, I could pay off my house and have a very nice emergency fund with that. You could also invest that in an index fund and make about $6,000 to $12,000 a year if the market is not doing bad.
Posted on 6/10/24 at 8:18 pm to dukke v
I f we could guaranty that Dementia Joe will get the arse whoopin he has earned, I would invest it in some of the big paying oil and nat. gas royalty outfits. They are hitting tough times now, but as soon as we pull joe out of them, they are going to start thriving again.
You LA folk are familiar with his war on oil and gas.
You LA folk are familiar with his war on oil and gas.
Posted on 6/10/24 at 8:19 pm to Blast from the past
Not even close
Posted on 6/10/24 at 8:20 pm to Blast from the past
$100k covers two years of out of state tuition at LSU.
Posted on 6/10/24 at 8:21 pm to Blast from the past
No
I am still going to work the next day
I am still going to work the next day
Posted on 6/10/24 at 8:41 pm to Blast from the past
Posted on 6/10/24 at 8:45 pm to dukke v
quote:I'll do better than that: I'm OVERTLY proud to have reached 50 years old and be completely debt free. No mortgage, no car note, no student loans. It's a nice way to live.
Subtle brag much????
That said, $100K would provide some much-needed cushion in our finances. It wouldn't change my life, but it would probably push me to actually investing in some rental property--which would ultimately let me retire sooner.
Posted on 6/10/24 at 8:48 pm to Zendog
quote:
Think of it this way...
$100,000 worth of hookers and blow
Spend $90,000 on hookers and blow.
Waste the rest.
Posted on 6/10/24 at 8:57 pm to LSBoosie
quote:
23 year old with $25k of student debt would absolutely be life changing money. That cuts out several years of paying off loans
Posted on 6/10/24 at 9:11 pm to Blast from the past
I lived next door to a guy who won the Winston cup no bull million dollar prize 20 plus years ago. He lived with his mom and worked at a tire shop changing tires before he won. After taxes he was going to get 60k for ten years but settled for 320k all at once. He was broke and working back at the same tire store a few years later.
Posted on 6/10/24 at 9:19 pm to Bamadog75
Nope, not life changing for most past 35.
Definitely not changing anything for me. Could pay down mortgage by a few % or cover a few vacations.
Definitely not changing anything for me. Could pay down mortgage by a few % or cover a few vacations.
Posted on 6/10/24 at 9:22 pm to Blast from the past
My bonus in March this year was 221k. We paid off some debt, put 25k in a money market emergency fund, and put the rest in index funds. Not exactly life changing, but it’s all about where you’re currently at in life.
Posted on 6/10/24 at 9:24 pm to Blast from the past
No not even close, unfortunately. Maybe if you were 20.
Posted on 6/10/24 at 9:25 pm to DCtiger1
Really???? We are so proud of you…….. 
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