So what say ye, what to do with a $100,000 windfall?
Tuesday, April 19, 2011
Windfalls
As I was driving in to work today I had a weird thought... I wondered what I would do if somehow or another I came into a windfall of $100,000. What would I do with it? It's a great chunk of change (of course), but it's not (F-you, F-you, F-you, You're cool, F-you I'm out kind of change). I still haven't determined what my coarse course of action would be, but I thought I would open it up to the blog since we have a good mix of professions and personalities on here...
So what say ye, what to do with a $100,000 windfall?
So what say ye, what to do with a $100,000 windfall?
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12 comments:
Hmmm...well this is a odd amount of money because it is not enough to drastically change your life so I have two responses. Normally I think of winning larger sums so here is what I came up with.
1) Serious:
5K to Gina
5K to Chris
10K to Parents, tell them to take a sweet Europe trip
40K for a house down payment
15K To Irene parents to offset wedding costs
10K As a vacation fund for me and Irene
10K Set aside for true savings
5K For immediate fun
2) Not serious:
A long weekend trip to either Montreal or Vegas (guys only) that includes:
Penthouse suites, plane tickets bought for everybody, booze, strippers, hookers, cocaine and gambling. (Note: Hookers and cocaine just make it seem like more crazy of party, not really going to happen). We get to live a weekend like a rockstar/Charlie Sheen and film videos of ourselves "making it rain". After the trip whatever is left is left.
Not too often that we get to do this but Jae has a spelling error!! I was hoping Nick would call you out but that is obviously wishful thinking.
As far as money, probably would put away for use as a house down payment like the Nick said. Or use as cash to buy in to the dental practice I am working at. Basically reinvest in a house or business. It would be nice to say buy a crazy car, but then I would be dead because Allie would have killed me.
Or maybe just buy $100,000 worth of gold or silver. That stuff isn't going down in price any time soon.
Come on Adam you know I don't catch spelling errors. When people ask me to proofread documents I politely tell them it will not do them any good.
Yes my 40K might not go to a house might go to starting Irene's/our small business upon our marriage.
I'd pay off my student loans and my car. Not at all glamorous.
What's left after that would likely go to family and savings, or if I'm bringing Matt into this picture I'm sure he'd invest some.
I would just put it all in an investment account. Although you all are forgetting about the fun taxes one would have to pay on such a windfall.
funny how drew remembered the taxes, but our resident cpa overlooked them.
True. I just assumed post tax because otherwise the exercise became a lot less fun.
To follow Nick's lead:
Serious option: Put money back in the house (improvements and mortgage), buy a "new" truck, take a trip, and invest the rest.
Not serious option: Open a brewery/tap house.
Wait I may want to change my "serious" option to Alex's "not serious" option.
The first thing I thought of was taxes too...so here it goes:
Serious: eliminate ALL my debts! Money for house. Take a vacation with Holly to Europe. Invest/save the rest.
Not serious/partially serious: tap house/brewery with Alex:)
Glad to hear everyone wants to join me if we all suddenly fall into a bunch of cash.
Hopefully, I will someday be able to make my own taproom in my house for a bunch of taps of home brew. That should require a little less money.
Invest it with me and turn it into more money! :)
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