Big Country

What would you do?

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I know we have all dreamed about what we would do if we were to win the lottery and tens, if not hundreds of millions of dollars. Heck, we've had threads about it.

 

But, what would you do if you came into a lesser, albeit still substantial amount of money. Let's say something in the 50-100K range. Something that is significant, but won't be something to retire on.

 

Would you be "responsible" with it and pay off debt or dump it all into savings?

 

Would you have fun with it and buy toys like a new car, a boat or something else like pay for a nice vacation?

 

Just curious what the typical Huddler would do.

 

I was thinking about this last night since my wife had recorded "The Singing Bee" (worthy of a thread on it's own) and the guy won $50K. Started wondering what I would do if I had $50K hit me like that (granted, that is taxed, but let's say you end up with 50-100K after tax)

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throw it all into retirement/college savings and maybe buy a new gun or something.

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Pay off debt, invest the majority, and buy something nice for myself and my fiancee.

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Pay off what little CC debt I have. Give the Mrs. and I both $2,000 to spend as we choose. Dump the rest into a 529 plan.

Edited by yo mama

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I wish 100K would pay off my mortgage.

 

 

Wouldnt pay mine....will only dent it. Would have about 550k to go :D

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5 years ago would have resulted in a week long coke/whore binge.

 

Today, I'd stick it in the ol' savings account.

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I'd stop wondering how I was going to pay the lawyer for the next phase of my custody trial for my kids.

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Pay off what little CC debt I have. Give the Mrs. and I both $2,000 to spend as we choose. Dump the rest into a 529 plan.

 

Same here, but maybe spend a little more on toys.

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10k in savings

10k in investments

5k on a nice vacation

balance to pay down a butt load of debt

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Invest and/or try to buy some/all of the land surrounding our new place on the south and the east.

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Enjoy wine, women, and song....

 

.......... then spend the remainder foolishly.

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clear debt. save/invest rest to try to start up my restaurant

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50 - 100k. In order:

 

1. Pay off all debit [minus mortgage - need to have that good debit]

2. convert my 8 month worth of emergency bill fund to 1 year.

3. Invest full in my IRAs/kids 529s

4. Since we've paid off debit I would put in the full 15% into my 401K

5. Buy the wife something nice.

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Enjoy wine, women, and song....

 

.......... then spend the remainder foolishly.

 

This actually made me laugh out loud. :D

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I invested it.

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Invest and/or try to buy some/all of the land surrounding our new place on the south and the east.

 

Upon second thought, I'd:

 

1) Give some away ... maybe a battered women's shelter, a home for unwed teens, etc.

2) Buy some new t-shirts; some of mine have been with me for more than 10 years.

3) Buy some new boxers; some of mine are pretty sad.

4) Half of whatever's left on a wide variety of small home improvement projects at our new place.

5) Invest the remaining half and/or use it to put towards buying some/all of the land surrounding our new place on the south and east.

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After taxes, that would come out to ~ $25-$50k. That would cover the student loans in my household. The rest would go in the bank.

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Upon second thought, I'd:

 

1) Give some away ... maybe a battered women's shelter, a home for unwed teens, etc.

2) Buy some new t-shirts; some of mine have been with me for more than 10 years.

3) Buy some new boxers; some of mine are pretty sad.

4) Half of whatever's left on a wide variety of small home improvement projects at our new place.

5) Invest the remaining half and/or use it to put towards buying some/all of the land surrounding our new place on the south and east.

 

Quit fooling yourself. You would go to the World Series of Poker next year and enter as many tournaments as you could.

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