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re: What would you do with $100k right now?
Posted on 7/5/24 at 10:45 am to Underdog76
Posted on 7/5/24 at 10:45 am to Underdog76
First I would pay off my parents mortgage and any other bills they may have. I'm not sure what they owe on the house since my mom never tells me when I ask.
I know my dad has had a couple of big surgeries/hospital stays since Jan 1. I can't see all of that (mortgage and medical bills however I believe that they have already paid off 1 of the stays) being more than 50k but for shiggles and gits lets say it was...
I would used say 15k on some home improvements although I'm not sure if that would cover what I would want to do since I'm not sure what remodeling cost looks like right now but 15K might get a closet painted lol.
5k I would simply put into my savings account.
The last 30K I would put it into some form of retirement fund (I'm not sure what kind honestly). I have 1 retirement with my current job and once I'm within 5 years of retirement I can start another....however the last 6 or 7 months have blindsided my parents with medical bills and I know that having a second or third income would have really helped them.
I know my dad has had a couple of big surgeries/hospital stays since Jan 1. I can't see all of that (mortgage and medical bills however I believe that they have already paid off 1 of the stays) being more than 50k but for shiggles and gits lets say it was...
I would used say 15k on some home improvements although I'm not sure if that would cover what I would want to do since I'm not sure what remodeling cost looks like right now but 15K might get a closet painted lol.
5k I would simply put into my savings account.
The last 30K I would put it into some form of retirement fund (I'm not sure what kind honestly). I have 1 retirement with my current job and once I'm within 5 years of retirement I can start another....however the last 6 or 7 months have blindsided my parents with medical bills and I know that having a second or third income would have really helped them.
1
Posted on 7/5/24 at 10:54 am to Thracken13
quote:
fix a few things and sell this fricking money pit
The house that my (then) wife and I built I think would have become a money pit. We were having so many issues with it (thankfully it was still under the contractors warranty).
For whatever reason they could never get our front doors fixed. It seemed every other month they were having to come out to adjust them so they could close and lock.
The guy who kept coming out to 'fix it' kept saying that these doors always have that problem yet when we asked all of our neighbors on the block along with a buddy who lived around the block (and a few of his neighbors) we quickly found out that it was simply our front doors having that problem.
Posted on 7/5/24 at 10:56 am to Underdog76
Cocaine and whores
Posted on 7/5/24 at 10:59 am to chrome_daddy
quote:
- Take the wife on a 5 star 2 week vacation to Europe
This alone would take $30-40k assuming business class flights.
Posted on 7/5/24 at 10:59 am to Underdog76
Pay off my mortgage.
Posted on 7/5/24 at 11:11 am to Underdog76
$20,000 to the church.
Help my sister fix up the house she just bought.
Buy a nice used SUV or Jeep Wrangler for me.
Save the rest.
Help my sister fix up the house she just bought.
Buy a nice used SUV or Jeep Wrangler for me.
Save the rest.
Posted on 7/5/24 at 11:13 am to Underdog76
Pay off all of my bills and drop a big chunk on my principal on my house
Posted on 7/5/24 at 11:16 am to Underdog76
Buy an airplane
Posted on 7/5/24 at 11:18 am to Underdog76
My son graduates next year and wants to go to the LSU engineering program and stay in the honors dorms. Would put it towards that.
Posted on 7/5/24 at 11:18 am to Underdog76
Deposit it into my brokerage.
Probably invest 80K and keep 20K COH.
Probably invest 80K and keep 20K COH.
Posted on 7/5/24 at 11:19 am to Lester Earl
quote:
what is a gender reassignment surgery going for these days?
Once in a while you get upvoted. lol
Posted on 7/5/24 at 11:19 am to Underdog76
Put it in my 4.5% account and retire.
Posted on 7/5/24 at 11:20 am to Underdog76
quote:I'd pay my bills as far as it would go...
What would you do with $100k right now?
Posted on 7/5/24 at 12:05 pm to Underdog76
Get the house in tip top shape. We’re here long term so HVAC, lots of plumbing and fridge would be fixed/ upgraded. Plus get the yard in order.
Don’t have a ton of debt but it would be gone.
Rest set aside for kids and all the crazy arse expenses that pop up for them and school.
Don’t have a ton of debt but it would be gone.
Rest set aside for kids and all the crazy arse expenses that pop up for them and school.
Posted on 7/5/24 at 12:09 pm to Underdog76
At my age, 100,000 would be perfect amount for me to live very comfortably for 20 years. As long as I still have my monthly income I already get.
Posted on 7/5/24 at 12:09 pm to Underdog76
Pay off credit cards and two daughters student loans … would be nice
Posted on 7/5/24 at 12:16 pm to Underdog76
I spent my truck money on investments. Going to drive the wheels off my 01' 4Runner.
I would prolly set aside $10k for a down payment on my next vehicle, $50-80k on a down payment for a house/property and remaining amount fund my Roth IRA for the year/ETF's.
I would prolly set aside $10k for a down payment on my next vehicle, $50-80k on a down payment for a house/property and remaining amount fund my Roth IRA for the year/ETF's.
Posted on 7/5/24 at 12:16 pm to Underdog76
If windfall then peeps need to factor in taxes. In some cases it will also move a person up a bracket. So you’ll need to put aside the tax money first.
Posted on 7/5/24 at 12:20 pm to Demonbengal
quote:
$50,000 towards mortgage principle, $40,000 money market, $10,000 personal savings.
I’m surprised by all the responses that say they’d put it towards their mortgage. Unless that mortgage rate is really high or if you’re trying to payoff the house to avoid the rising costs of insurance I would think that the money in hand could do more good than have it in the house. I’m happy with my mortgage rate and I can live with the insurance costs so I’d take $100k and buy one or two more investment properties.
I’m not nearly as debt adverse as a lot of people on OT. Up until now I’ve borrowed just about as much money as people will lend me.
Posted on 7/5/24 at 12:21 pm to Underdog76
I would go on 3 to 4 nice vacations. Visit a couple different places. Switzerland, Scandinavia, New Zealand.
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