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re: Is $100,000 (one time payment) life changing money?

Posted on 6/10/24 at 10:34 pm to
Posted by LSUGUMBO
Shreveport, LA
Member since Sep 2005
9484 posts
Posted on 6/10/24 at 10:34 pm to
That’s why I keep making those parlays- one of them is bound to pay off $100,000!

Not really- $100,000 would allow us to pay off some long term debt and would better set us for the future.

Which Barrister shall I send my banking coordinates to?
Posted by athenslife101
Member since Feb 2013
20206 posts
Posted on 6/10/24 at 10:40 pm to
I struggle to not believe this isn’t life changing money for 99% of the people on here.

Realistically I’m just about above average in every facet of my life for a white male who went to a large state school and $100,000 would completely change my life.

I’d be able to pay off all outstanding debt, have money for a house down payment, and still have money left over for a big boost to savings/being able to go on a vacation.

Posted by Rize
Spring Texas
Member since Sep 2011
18628 posts
Posted on 6/10/24 at 10:50 pm to
quote:

Wow you’re rich



No I’m just learning things on the money board . I’m actually really bad with money and just opened a couple high yield savings accounts a few months ago.
Posted by Gee Grenouille
Bogalusa
Member since Jul 2018
7533 posts
Posted on 6/10/24 at 10:52 pm to
That would pretty much pay off everting else that I owe plus have some left over.
Posted by Rize
Spring Texas
Member since Sep 2011
18628 posts
Posted on 6/10/24 at 10:59 pm to
quote:

I struggle to not believe this isn’t life changing money for 99% of the people on here. Realistically I’m just about above average in every facet of my life for a white male who went to a large state school and $100,000 would completely change my life. I’d be able to pay off all outstanding debt, have money for a house down payment, and still have money left over for a big boost to savings/being able to go on a vacation.


How old are you?
Posted by CSATiger
The Battlefield
Member since Aug 2010
6790 posts
Posted on 6/10/24 at 11:00 pm to
for me yes, but I am just a butler for a butler
Posted by Nawlens Gator
louisiana
Member since Sep 2005
5945 posts
Posted on 6/10/24 at 11:40 pm to

We had a house keeper whose sister won $1,500 in a lottery and then quit her job. So that was life changing.



Posted by athenslife101
Member since Feb 2013
20206 posts
Posted on 6/11/24 at 1:06 am to
Not that young.

And while the money i owe for debt isn’t very high at all, due to uncontrollable factors, my monthly budget has increased and I’m stuck not being able to make much headway on what I do owe,

If I had $50,000, I could easily free up post tax $800 in monthly budget for disposable income with money left off which would be life changing. Mainly in allowing me to do stuff I’ve been putting off until my finances get in better shape
Posted by lsu xman
Member since Oct 2006
16682 posts
Posted on 6/11/24 at 3:18 am to
I would love to use $10K of that money on LSU vs USC.
Posted by KillTheGophers
Member since Jan 2016
6743 posts
Posted on 6/11/24 at 4:03 am to
$100,000 is 1/3 of the way to $1,000,000.

Charlie Mumger famously said when it comes to investing, the first $100,000 is a bitch but you gotta do it.

Posted by BigApple
Member since Jun 2022
889 posts
Posted on 6/11/24 at 5:23 am to
No

This post was edited on 6/11/24 at 5:34 am
Posted by Lutcher Lad
South of the Mason-Dixon Line
Member since Sep 2009
7085 posts
Posted on 6/11/24 at 5:29 am to
It depends on what you already have....$1 today ain't exactly what $1 was 10 years ago.
Posted by BigApple
Member since Jun 2022
889 posts
Posted on 6/11/24 at 5:34 am to
quote:

100,000 is 1/3 of the way to $1,000,000. Charlie Mumger famously said when it comes to investing, the first $100,000 is a bitch but you gotta do it.



Is a million life changing money???
Posted by rintintin
Life is Life
Member since Nov 2008
16953 posts
Posted on 6/11/24 at 5:58 am to
quote:

Is a million life changing money???


Some of you are complete retards.

"Life changing" doesn't necessarily mean quit your job frick you money. Life changing can be as simple as a down payment on a house. If you don't own a house I'd say that's life changing.

$1 million is Life changing for 99.9% of people on this site. And I'd say $100k is Life changing for probably 95+% at least.
Posted by TheJunction
Mississippi
Member since Oct 2014
1794 posts
Posted on 6/11/24 at 6:03 am to
Honestly, I’d say for a lot of people probably not. It’d be spent on 1 or 2 nice vehicles, a nice trip and that’s about it.

For us it absolutely would be life changing in the sense that it’d help us get to our goals a whole heck of a lot quicker/easier, but not in the sense that TODAY’s day to day would really change all that much, except for the stress relief of having it would bring.
Posted by Warfarer
Dothan, AL
Member since May 2010
12336 posts
Posted on 6/11/24 at 6:15 am to
the correct answer is, for 99% of the world, yes (or at least has the potential to be).

If you are in debt to your eyeballs and go buy a 100k Escalade then it's not. If you take it and pay off a large chunk of your home and/or invest it into a long term asset (even education) then yes.
Posted by LSUfan4444
Member since Mar 2004
56615 posts
Posted on 6/11/24 at 6:18 am to
Yes.
Posted by Pilot Tiger
North Carolina
Member since Nov 2005
73834 posts
Posted on 6/11/24 at 6:18 am to
just throw it in on top of the others and let it marinate

aint changing my day to day much

I mean dont get me wrong, it would be greatly welcomed and appreciated
This post was edited on 6/11/24 at 6:20 am
Posted by Boudreauboudreaugoly
Land of the Rice n Son
Member since Oct 2017
2682 posts
Posted on 6/11/24 at 6:22 am to
Not if you’re buying spinning rims and 30s for that ‘72 Monte Carlo parked next to your trailer.
This post was edited on 6/11/24 at 6:24 am
Posted by tiggerthetooth
Big Momma's House
Member since Oct 2010
63979 posts
Posted on 6/11/24 at 6:27 am to
It completely depends how you use it. It could be psychologically life changing or materially life changing.


It could buy you that car apartment that changes your life trajectory, it could pay off that medical debt that enables you to spend money elsewhere.


For 95% of the population $100k is a huge sum.
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