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If you had $350,000 in cash, what would you do?
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Jan 6, 2015 17:38
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| # ? Apr 20, 2024 03:53 |
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Put it all on black. Serious answer: I would pay off my student loan, have ~$10k in my bank accounts, and the remaining >300k would go into the stock market. BouncingBuckyBalls fucked around with this message at 17:50 on Jan 6, 2015 |
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Jan 6, 2015 17:48
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No student loans, frugal living
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Jan 6, 2015 17:51
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This entirely depends on existing assets(and what kind), existing debts (and what kind), monthly expenses, and monthly income.
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Jan 6, 2015 18:02
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Put it in a 60/40 fund with my other $350,000 and start working half time.
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Jan 6, 2015 18:09
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Spend $120k or so on a house. Invest the rest into mutual funds, keep working where I'm at now but retire WAY earlier than I was planning on.
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Jan 6, 2015 18:15
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I'd put $100k in a trust for my daughter's college, then build my dream house. I have modest dreams, basically I want a small, 1200-1500 sq foot house with a huge shop for working on and storing up to maybe 6 cars. Should be around $250k. I'd probably spend about $100k on the down payment and finance $150k to keep the rest of the cash in some combination of investment/savings. Which I would quickly blow on more cars. 
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Jan 6, 2015 20:45
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GoGoGadgetChris posted:Put it in a 60/40 fund with my other $350,000 and start working half time. I've got a mortgage with $250k left, so I'd pay that off that first if I ever got a glut of cash like that, but if I didn't this would basically be my answer. I'd probably retire from my 9-5 and be a stay at home dad. My wife's a workaholic and high on the chain at the small company she works at, so I'd just need enough to supplement her income. I'm working on starting a small side business, and if I had cash like that I'd feel completely confident throwing myself into it, even while we were having a baby.
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Jan 6, 2015 21:28
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I would probably deposit it in a bank before I got robbed or found a strip club.
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Jan 6, 2015 21:39
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DJCobol posted:Spend $120k or so on a house. Invest the rest into mutual funds, keep working where I'm at now but retire WAY earlier than I was planning on. Or keep it in the backseat of my car and hope it doesn't get impounded.
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Jan 6, 2015 22:17
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put it in the bunny
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Jan 6, 2015 22:27
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Be debt free and have about 50k to invest. That our one hell of a world tour (this would not happen).
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Jan 6, 2015 23:54
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Jan 7, 2015 01:46
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60% hookers 40% blow
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Jan 7, 2015 04:46
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User Error posted:60% hookers 40% blow
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Jan 7, 2015 04:53
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My Rhythmic Crotch posted:
Three chicks and a dude. It isn't gay if you pay for it.
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Jan 7, 2015 05:00
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1. Make sure I have enough for my student loans. 2. Pay off my dad's mortgage. 3. Buy my mom a small house and new car. Or, you know, hookers and blow.
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Jan 7, 2015 05:11
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Like, physically, in paper bills? Drop it in a safe deposit box and feed it a few grand at a time into a dozen different shell corporations.
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Jan 7, 2015 05:22
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buy more stocks, and blink
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Jan 7, 2015 06:31
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Bitcoin mining facility.
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Jan 7, 2015 07:41
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VTSAX, all of it
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Jan 7, 2015 08:59
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Invest for income to supplement rent and travel. Otherwise, continue working and saving as normal.
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Jan 7, 2015 13:44
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I would buy $350k worth of gasoline from my local gas station and then wait a couple months/years and sell it to people on the side of the road
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Jan 7, 2015 13:48
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I'm boring, but this would be awesome to me. 1. Pay off house ~$117k ($233k left) 2. Replace our 2nd car and truck with a nicer truck that we could all fit in ~$25k ($208k left) 3. Home renovations, at least a new kitchen and deck ~$30k ($178k left) 4. Fund my kids 529 plans ~$40k ($138k left) 5. Invest ~$100k ($38k left) 6. Take a nice vacation ~$10k ($28k left) 7. Buy some toys (new atv, possibly try to find some land or cabin to put a down payment on) I'd still keep my current job, my wife would probably want to quit hers but with no mortgage it wouldn't be a huge burden.
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Jan 7, 2015 14:06
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WHAT A GOOD DOG posted:I would buy $350k worth of gasoline from my local gas station and then wait a couple months/years and sell it to people on the side of the road This would have a worse ROI then the strippers and hard living route FWIW
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Jan 7, 2015 14:43
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My 401k allows after tax contributions and in service Roth conversions so I would probably use it to fill the remaining ~30k/yr space that's left after my pretax & employer contributions. This will take a while so in the meantime it would sit in a taxable account, probably entirely in a TSM index. I think I'd also take a month off work and hit up Europe or Asia. Life is short.
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Jan 7, 2015 15:29
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WHAT A GOOD DOG posted:I would buy $350k worth of gasoline from my local gas station and then wait a couple months/years and sell it to people on the side of the road I was curious there are some website that offer a scheme like this. I don't think I would trust them to ever pay you back though.
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Jan 7, 2015 17:22
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For what I would do in my own situation: -Pay off condo (118k); I'd immediately sell it for what I could and put the cash into savings (~85k-95k) -Take two really nice vacations overseas (17k)...I've been to several places in Europe but I've never been anywhere in Oceania, Asia, Africa or South America. -Invest 200k into a taxable account -Buy about 3k worth of new clothes including a couple custom suits -Dump the last 9k into lending club for fun. I'd keep my job, but with the first line item here I'd be able to go back to maxing my 401k and it'd move up my timeline for retiring by at least 15 years. I'd be able to seriously consider it in ten years since I'd be maxing 401k, IRA, and Roth from here on out with a pretty sizable taxable account to boot. And with over 100k in cash savings(more than two years worth of expenses) I would feel barely any anxiety about my career at all which would be nice. Nail Rat fucked around with this message at 17:58 on Jan 7, 2015 |
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Jan 7, 2015 17:55
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Surly Long Haul Trucker, Ortleib bags. You wouldn't see me again for twenty years.
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Jan 7, 2015 18:26
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I'm assuming the cash is a bonus or some other taxable income, if not, the portion to taxes would just goto long term saving and investing. 15% given to charities/churches/shelters/non profits 35% taxed by state/federal government Leaves about half of that which is $175k I would pay off my rental property of 140k which would make me completely debt free (mortgage has already been paid off). I would then put 10k in investments and the other 25k would buy a new minivan for my wife since child number three is on the way. Man $350,000 doesn't go far after you pay taxes and give to charity, but I always give first and foremost when I receive a windfall.
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Jan 7, 2015 18:31
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It is after tax you twit. This is based on every response so far. This exercise kind of makes me sad though as it will never come true. If you consider it a bonus my max bonus is about $16K right now (and that will be taxed).
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Jan 7, 2015 19:23
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All things being how they are now… $15k blow money $15k awesome vacation or two $10k to pay off my car $100k investing $190k buy a house $20k furnishings for said house That'd set me up pretty nicely for the rest of my life. Too bad it will never happen!
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Jan 8, 2015 06:26
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SpclKen posted:15% given to charities/churches/shelters/non profits  This is the worst response yet. You have a third kid on the way and you'd literally take a piss with $52,000? poo poo, my dad is bad with money but at least he'd buy a big truck or something marginally useful. I'm not religious so I don't get the whole tithing thing, but either way that's a lot of money to just blindly give to a "charity". At least put the $50k into a stock/dividend fund and "give" the profits to charity without touching the principal. That way you aren't loving over your own family to feel good about writing your church a check.
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Jan 8, 2015 14:44
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Like the responses so far. Just to clarify, 350k after taxes. You have whatever freedom you want with it with whatever goals you have.
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Jan 8, 2015 17:38
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I wonder if that's enough to start a charity? Something useful but low overhead like an internet-only grant-making outfit that functions like an endowment.
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Jan 8, 2015 18:03
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Change it in for 35 million pennies and then go to the top of the Empire State Building and make it rain.
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Jan 8, 2015 20:44
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I'd take 50k of it to pay off my house and replace my car and put the rest away for retirement or emergencies. Since my job is mostly funded by state & federal grants my job security is pretty shaky since the money could evaporate at any time depending on government whim, so having a chunk of money like that socked away would go a long way toward peace of mind. I live in a low cost of living area and with a paid-off house could live a long time on a fairly minimal income.
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Jan 8, 2015 20:59
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I was going to say Rolls Royce, but that's not enough so gently caress I don't even want it then.
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Jan 8, 2015 23:41
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I would invest half of it in low risk mutual funds and then take the other half over to my friend Asadulah who works in securities. Or this My Rhythmic Crotch posted:
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Jan 9, 2015 00:31
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| # ? Apr 20, 2024 03:53 |
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whoops
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Jan 9, 2015 00:32
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