Welcome, Guest
Pewter Report  >>  Boards  >>  Pirate's Cove (Moderators: 3rd String Kicker, PRPatrol)  >>  Topic: What would you do if you inherited $100,000? « previous next »
Page: 1 2 3 ... 5

SarasotaBuc Fan

******
Hall of Famer

Posts : 4022
Offline
: July 11, 2011, 10:35:44 PM

What would you do?

How would you invest the money to make more money?

How do u buy gold as a stable asset?


jbear

*****
Pro Bowler

Posts : 1038
Offline
#1 : July 11, 2011, 10:59:17 PM

Personally, I'd just pay off my mortgage and credit cards.  I'd have plenty enough to live well without worry if not for debt.   You can overanalyze things by trying to figure out what the future holds, for example if we have high inflation which some think we may, holding a mortgage can be a good thing.  I'm for simple though, debt = bad even if its just for my peace of mind.  But hey, if you're one of those convinced the economy is about to collapse then go ahead and spend it all on gold or silver and lock it in a safe until it hits..... then you can be one of the few who can afford to buy food and the necesities of life. Just depends where you're coming from.


Seriously though, gold can be a good investment.  I believe there are many places you can buy gold at the market rate.

Hate

*
Hall of Famer
******
Posts : 40195
Online
#2 : July 12, 2011, 12:07:40 AM

I'd pay a bill

-------------------------------------------------------
   

 I thought Lovie said he wanted quickness & speed, even at the QB position?

MucBuc

*
Starter
****
Posts : 663
Offline
#3 : July 12, 2011, 06:18:18 AM

I would invest most of it in real estate.

Oh, how I tire of young men and their ambitions.

Morgan

User is banned from postingMuted
*
Hall of Famer
******
Posts : 14658
Offline
#4 : July 12, 2011, 07:15:18 AM

1. Pay off all debt, credit cards, student loans, mortgage, car loan if you have any.
2. Don't buy gold, silver unless part of a diversified portfolio. Then if you do, use ETF or mutual funds that invested in the industry.
3. Avoid buying new stuff/new car, etc unless you absolutely need the things.
4. Possibly visit with a fee-based certified financial planner (pay them $100 for an hour's work) and see if they have recommendations for you.
5. I'd dollar-cost average ($40-50k)  into several index funds (international, US, bond, sector) and hold for a few decades.
6. I'd probably leave $10-20k in liquid assets (cash) into a money market fund  - emergency funds (no job, car problems, etc, etc).
7. Make sure none of the $100k has federal or state taxes (financial planner).

: July 12, 2011, 07:17:45 AM morgan

Rusty

*
Hall of Famer
******
Posts : 11465
Offline
#5 : July 12, 2011, 08:04:11 AM

Give it to my wife on Friday, go to work on Monday

                \'Every day above ground is a good day\'

cyberdude558

******
Hall of Famer

Posts : 4020
Offline
#6 : July 12, 2011, 08:22:08 AM


3. Avoid buying new stuff/new car, etc unless you absolutely need the things.


Well an exception might be home improvement. Some home improvement projects will increase the value of the property (ie: add an extra room, add a pool, add more decking/patio, etc... Even adding hurricane shutters may lower your insurance premiums).

anterrabae33

******
Hall of Famer

Posts : 4429
Offline
#7 : July 12, 2011, 08:23:12 AM

Get a full tank of gas.

Then I should have enough money to buy a large Icee.




ZING!

BucsGuru

*
Hall of Famer
******
Posts : 6397
Offline
#8 : July 12, 2011, 10:06:37 AM

pay off debt and continue laughing at Rusty's comment.....priceless!!

Skull and Bones

******
Hall of Famer

Posts : 23266
Offline
#9 : July 12, 2011, 12:16:40 PM

you're pretty young IIRC.   maybe buy a condo.  if somehow you can finagle your way into a 55+ community you would be all set.


SarasotaBuc Fan

******
Hall of Famer

Posts : 4022
Offline
#10 : July 12, 2011, 01:18:28 PM

yes, im 23. really want this to spring me into the business world.

say you had no debt, how would you invest $100,000?

i dont want to buy a place unless it was to rent out.


Biggs3535

*
Hall of Famer
******
Posts : 31619
Offline
#11 : July 12, 2011, 02:46:43 PM

say you had no debt, how would you invest $100,000?

i dont want to buy a place unless it was to rent out.

Considering the real estate market right now, I'd buy 4 or 5 cheap duplexes and rent out the 8-10 units for $550-$750 (depending on the area) and have $4500-$7500 of income coming in every month.


freddy

******
Hall of Famer

Posts : 3608
Offline
#12 : July 12, 2011, 03:37:14 PM

I actually did recieve a slighly less amount for a weeks worth of work once as an expert witness concerning a database that was written for a hospital. I split the amount in half and put it into a college savings account for my kids. Now as my first approaches college, I sit in comfort knowing the school, books, room, meal plan etc are taken care of.

cyberdude558

******
Hall of Famer

Posts : 4020
Offline
#13 : July 12, 2011, 05:20:22 PM

Now as my first approaches college, I sit in comfort knowing the school, books, room, meal plan etc are taken care of.

That's what you think....  and that may have been enough even as recent as 10 years ago. But have you seen some college tuition bills these days? Astronimical! Kids are graduating college with $60k in debt and sometimes even more. Many Graduate school grads are over $100k.

That's more than some houses!

freddy

******
Hall of Famer

Posts : 3608
Offline
#14 : July 12, 2011, 06:42:04 PM

Now as my first approaches college, I sit in comfort knowing the school, books, room, meal plan etc are taken care of.

That's what you think....  and that may have been enough even as recent as 10 years ago. But have you seen some college tuition bills these days? Astronimical! Kids are graduating college with $60k in debt and sometimes even more. Many Graduate school grads are over $100k.

That's more than some houses!

Oh your right about the costs. But I got that money almost 12 years ago, it has grown a little since :D. But my kids, are a lot closer to getting that degree without incurring massive debt (upon themselves or me) than most people.
Page: 1 2 3 ... 5
Pewter Report  >>  Boards  >>  Pirate's Cove (Moderators: 3rd String Kicker, PRPatrol)  >>  Topic: What would you do if you inherited $100,000? « previous next »
:

Hide Tools Show Tools