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Posted on 2/14/24 at 1:19 pm to baw2002
While trying to decide. Stick it in a savings account and make 4%.
Posted on 2/14/24 at 1:19 pm to baw2002
Donate some, save some and take a vacation.
Posted on 2/14/24 at 1:26 pm to real turf fan
quote:
That's over the amount that would kick in the gift tax to the IRS.
Wrong!
1st its not taxable for the recipient. Second, the giver just has to fill out an IRS form to report the gift which reduces their lifetime gift limit of $13.61 million. Gift tax is only an issue for the extremely wealthy and they typically have pros in their corner the tax optimize it shouldn't be a surprise to anyone.
"The 2024 gift tax limit is $18,000. For married couples, the limit is $18,000 each, for a total of $36,000. Gifting more than this sum means you must file a federal gift tax return in 2025. The 2024 lifetime gift limit is $13.61 million."
nerdwallet
This post was edited on 2/14/24 at 1:27 pm
Posted on 2/14/24 at 1:47 pm to baw2002
If you have a 401k, stocks and all already, I'd keep it in cash. I keep 50-60k in cash in one of my gun safes because you just never know.
This post was edited on 2/14/24 at 1:48 pm
Posted on 2/14/24 at 1:59 pm to baw2002
quote:
WWYD if you were handed 50k
I’d spend most of it on:
Cocaine
Hookers
Booze
Whatever was left I’d waste
Posted on 2/14/24 at 2:00 pm to baw2002
But a boat and a yeti 110 full of silver bullets.
Posted on 2/14/24 at 2:02 pm to baw2002
quote:
WWYD if you were handed 50k
ask what they wanted in return before accepting
Posted on 2/14/24 at 2:14 pm to baw2002
Pay off credit cards and a chunk out of the mortgage
Posted on 2/14/24 at 2:15 pm to TravisKelces Bandaid
That’s great way to lose 50k. Lol
Posted on 2/14/24 at 2:32 pm to baw2002
pay reparations
This post was edited on 2/14/24 at 2:33 pm
Posted on 2/14/24 at 2:38 pm to baw2002
If it's a dude - have tell the wife to thank him
If a girl - I'll have to do the thanking
Then - take the family on vacation and invest the rest into a growth account and go on with life
If a girl - I'll have to do the thanking
Then - take the family on vacation and invest the rest into a growth account and go on with life
Posted on 2/14/24 at 2:43 pm to baw2002
Pay off credit cards then probably student loans. I would then probably have enough or close to paying off my truck as well. Man, it would be sweet to not have to pay monthly on those any more.
If I was debt free (sans mortgage), I would probably look for long term investments.
If I was debt free (sans mortgage), I would probably look for long term investments.
Posted on 2/14/24 at 2:46 pm to baw2002
Top off the wine cellar
Posted on 2/14/24 at 2:55 pm to TutHillTiger
quote:
That’s great way to lose 50k. Lol
Depends on who you invest with...
It could also be a great way to make a healthy internal rate of return (IRR) and MOIC (equity multiple)...
Posted on 2/14/24 at 4:59 pm to TravisKelces Bandaid
quote:
It could also be a great way to make a healthy internal rate of return (IRR) and MOIC (equity multiple)...
Are you just throwing out terms you heard somewhere???
So what is your personal IRR to make an investment decision?
Posted on 2/14/24 at 5:03 pm to baw2002
I would probably invest it all into my brokerage account and my Roth IRA and just watch it grow for the next 35 years.
Posted on 2/14/24 at 5:06 pm to baw2002
20k servicing debt
15k invested (mutual fund, CD, home renovations)
10k in liquid savings/rainy day
5k on something stupid
15k invested (mutual fund, CD, home renovations)
10k in liquid savings/rainy day
5k on something stupid
Posted on 2/14/24 at 5:07 pm to GRTiger
Two chicks at the same time
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