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I guess with that amount you could paint your baseboards and door trim
Say I have $50 sitting in a savings account. Where would you put it outside of the stock market?
Home improvement?
Rental property?
Lottery tickets?
I guess with that amount you could paint your baseboards and door trim
I wasn't pretending it was a lot of money. Just wondering what fellow spurs talkers would do with 50k to invest outside of the stock market?..
Sorry 50k
You could buy 50 hours son...
Oh my. That doesn't seem like a practical investment.You could buy 50 hours son...
Last edited by Th'Pusher; 11-29-2012 at 11:56 PM.
You should keep several months of your living costs in a savings account, in case something happens to your revenue stream.
50 bux... Keep it in savings.
Depends what your finances outside of that $50k look like. If you're carrying any non-mortgage debt or you don't have a rainy day fund set up for yourself I'd put the money there before doing anything else.
If you qualify this year and are sure you won't need the money at all, put as much as you can in a Roth IRA. God knows where tax rates will be when you retire and all income from the Roth IRA is tax exempt.
No non mortgage debt with the exception of $7k at 1.9% for a car loan. It's over and above a rainy day fund.
Good to know. I was hoping for something a bit more liquid that that. I don't foresee needing the money in the near future, but would like to have access to it if needed.
I'd put $20K down on two rental properties. At todays interest rates current rental income covers the mortgage, insurance, and taxes.
That's what I've have been contemplating. Just not sure I want the responsibility of being a landlord. Maybe a condo In Port A where they rent it out and take care of everything and just take a cut of the proceeds? That way I could pull it out of the rental pool and enjoy it myself when I wanted to.
My wife and I are fans of being mortgage free so any extra money we have we're using to pay that down. So in your situation I would pay off the car and throw the rest at the mortgage.
That's no fun! Really though, thanks for the advice.
That's obviously the safe and conservative thing to do but with interest at historic lows I personally think leverage is the better way to go especially when mortgage interest is deductible. I'm leveraging everything I can on hard assets that will increase in value along with the inevitable inflation.
Well it's no fun now, but the Mrs and I are banking on it being really fun to be mortgage free in our mid-40s.
Nothing wrong with that approach either. It's personal preference. Part of what's affecting our decision is that my wife, who has a good paying job now, is getting pretty close to topping out in her career. She doesn't see herself wanting to stick around once that happens, so getting us mortgage free makes it a lot easier for her to go do something she'll enjoy, even if it pays less.
You are a nicer guy than I am. My wife used to not work. I would pay all the bills and give her 2K cash a month walking around money. When she started spending that AND charging another 2K a month on credit cards I cut her off and told her if she needed money to get her fat ass out and get a job.
Thankfully I don't have to deal with that situation. My wife doesn't mind working, she just doesn't want to be stuck in a dead end job that doesn't interest her anymore.
You really gave her 2k a month "walking around" money?!?!?!
Jesus cucking christ, CC.
The above is reason #23876487326482734 that i'm not married. If the worst happens and I do attach the ol' ball n' chain, then it will be in the pre-nup that she must maintain full-time employment
I hate you.Well it's no fun now, but the Mrs and I are banking on it being really fun to be mortgage free in our mid-40s.
But, think of all the LTD's you could by with that mortgage money!
Depends on how young you are, and what your risk tolerance is.
If you are under 50, and have that much cash sitting around, you are wildly under-earning on that money.
Down payment on a duplex is probably best, outside the stock market. That said, you have to spend a huge amount of time at the beginning learning how to rent it profitably.
Live on one side and rent out the other.
In the stock market:
Coke stock, w/ automatic dividend reinvestment for part of it that isn't use on the duplex, again works best the younger you are.
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