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Empyrean
17083 Posts
I was just wondering what you would do with it. Would you put it in an index fund of some sort? A more aggressive investment? Let's say you have approx. 100k left on your mortgage at 4.375%. Would you pay off the mortgage? Would you buy some cheap real estate and try to rent it out or something? Just wondering what you guys would do :O   | ||
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GERMasta
Germany212 Posts
Money is of little importance to me. "Verily, he who possesseth little is so much the less possessed: blessed be moderate poverty!" - Nietzsche, Also Sprach Zarathustra | ||
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seanisgrand
United States1039 Posts
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NIIINO
Slovakia1320 Posts
+ Show Spoiler + Brake up with my GF so I can bang sluts I would build up great household and buy some restaurants / hotels / gyms / pools / pubs to make even more money then split to kids who never had shit. Ofc I always wanted http://uk.boats.com/boat-details/President-Sterling-130/1213040 and horse xD | ||
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skindzer
Chile5114 Posts
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Horrde
Canada302 Posts
I would probably start on a mortgage with down payment, buy a sea-doo for family use during cottage weekends, and invest the rest. Nothing other than that would change. It's a lot of money, but not a huge amount where I could live lavishly like a celebrity from. | ||
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Zergneedsfood
United States10671 Posts
On December 23 2010 04:35 Sauwelios wrote: Pay off the debts of my parents, pay for college, give some of it to family members who live in poverty, donate the rest to charity. Money is of little importance to me. "Verily, he who possesseth little is so much the less possessed: blessed be moderate poverty!" - Nietzsche, Also Sprach Zarathustra When you have debts? I call bs.  II don't have any debts since I'm not in college yet....but.... I'll invest a third into the stock market. I'll probably do what my friend does with Apple stocks. Then I'll use another third and buy a really nice computer so that I can run crazy stuff. I'll probably buy the most expensive Internet I can along with that. Maybe a bunch of other neat equipment. That probably shouldn't cost more than 10K though... By that time, I'll have another third and maybe 23K after that last investment. I'll probably use a couple thousand on average day spending (food, etc.)..... Finally all the remainder will be saved in a bank with the highest interest deal I can get (which...in the US...will be hard to comeby), and wait for my college debts to roll in. | ||
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Haemonculus
United States6980 Posts
Aside from that I'd probably put most of it in the bank and just sorta continue day to day as normal, (albeit with a huge security blanket and thus probably a lot less anxiety). | ||
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Raeleigh
Canada902 Posts
10k to pay off school 10k to have to spend/use to live for the next 6 months 75k on the rest of my mortgage that I for some reason have but don't own a house or anything. ^_~ But if I didn't have that mortgage.. 5k into savings account 10k to pay off school 20k to spend on whatever i want(new clothes, new computer, trips, so on) 65k to spend on living for the next however long that will last. All the money I'd make while working(because I'd still be working after I took off like a month) before school, during school, and after I've completed school and I'm working what I want(my course is only 6 months long), would be going into another savings. Every year with the tax free savings account you can deposit a maximum/have a maximum of 5k in your account. It goes up by 5k. So 1st year 5k, 2nd year 10, so on and so on~ (I think, at least XD) so I'd keep adding to it as well. =] I might invest some into savings bonds or something, I don't know, haha. | ||
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Coagulation
United States9633 Posts
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Najda
United States3765 Posts
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Raeleigh
Canada902 Posts
On December 23 2010 04:55 Coagulation wrote: how the hell do you have a mortgage without owning a home? Are you talking about me ;o If so.. On December 23 2010 04:25 Empyrean wrote: Let's say you have approx. 100k left on your mortgage at 4.375%. Would you pay off the mortgage? Would you buy some cheap real estate and try to rent it out or something? Just including this as well~ Edit: Also, you could have bought the house, then decided to sell it as you were still paying it off, so you'd have a mortgage, but no home. You see? ^_~ | ||
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sl
Canada239 Posts
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Milkis
5003 Posts
Travel the world. | ||
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Roxen
United States11 Posts
This is what I plan to do instead of buying a house in the future. Costs are roughly the same on a 4plex/smallish house and I'll be getting rent from 3 tenants which should cover most, if not all of the loan payments. | ||
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wooozy
3813 Posts
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KOFgokuon
United States14912 Posts
On December 23 2010 05:16 Roxen wrote: I would probably buy a small apartment building, like a 4plex (Real estate is cheap where I live). Live in one of my apartments and rent out the rest. This is what I plan to do instead of buying a house in the future. Costs are roughly the same on a 4plex/smallish house and I'll be getting rent from 3 tenants which should cover most, if not all of the loan payments. What the....how can you buy a BUILDING with 100k???? There's no way real estate is THAT cheap Honestly 100k really doesn't go that far, Unfortunately the market is high right now so I probably would not invest heavily, I'd probably revamp my apartment with new furniture, buy a ps3, stop waiting for stuff to go on sale on steam and just pay full price, and then save the rest while waiting to see if the market drops below 10500 k again before moving in | ||
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Chef
10810 Posts
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Roxen
United States11 Posts
On December 23 2010 05:20 KOFgokuon wrote: What the....how can you buy a BUILDING with 100k???? There's no way real estate is THAT cheap Depends on the 4plex, I've seen decent ones in the 100k-200k range. I guess that's one good thing about Idaho, cheap real estate. -_- | ||
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XsebT
Denmark2980 Posts
 + Show Spoiler [actual (and quite standard) answer] + Travel "To travel is to live" - Hans Christian Andersen | ||
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