100K what would you spend it on/invest in if you HAD to
Serious thought...
What would you spend/save/do with $100,000? Always curious to see what others would spend money on. I would...throw 70,000 into my 401K/TSP Fund (I'm 21 years old) Shave off 10 grand off the top and spend it on stupid shit such as car parts, clothes, electronics. Put 20,000 into the bank. |
Pay off both school loans (~$20k), and my small credit card debt (~$1000), buy a Subaru Forester ($10k-$15k), maybe another few grand to throw around, then put the rest into savings for a nice down payment on a house.
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90k invested into a CD or something and the rest would go to my racing school fund.
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If you put $100,000 in the market at 21 you are extremely rich at retirement. EXTREMELY! That 20/30K you are trying to spend instead of investing it would be millions in unrealized profit.
The rule of 72 will tell you that investing it @ 10% will get you $6,400,000 at 63 years of age. Not a bad nest egg! |
I'd put 80k in the bank, spend 10k on the car and still go on with my original plan to go to UCF and get my mechanical engineering degree, join the army for 4 years to pay back my school and then spend 10k to go Hennessy's TunerSchool. Work at a performance shop for a few years, then open my own garage/music recording studio and live in it.
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I'd go to school, that's an investment that pays well.
Maybe put a few thousand into my car ($5k at most...diff., wing, and a new set of wheels/tires for autoX). |
Pay off my truck (14k left I think) pay my credit card(3k) put a down payment on a house (20k) buy a better car for me (10k) take a nice vacation with my wife (3k) and invest the rest of the money (50k)
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buy an 04 STI daily, boost the miata(20kish) drop about 2-3k on photo gear, get an apartment and put the rest away.. Id probably end up wanting to blow like a grand for fun.. lol
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I would pick up a Westfield 7 kit from FM. Then I would put in a built motor and v-band setup form Tim. With whatever money is left would go to Hookers and Blow in Vegas. I would have one hell of a weekend trip there.
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100K? nothing; compounding interest FTW.
you act like I dont have 100K in my bank account. |
"spend it on" and Investments do not work together.
I proclaim this thread a failure!!!! |
The only problem with this investment theory is that at 10%, you're really only making 7-8% due to inflation. Sure, $6M sounds great now, but when you're 70, it won't look like much (Think of what your grandparents have/had and how little it seems now). A few months ago was a great time to invest, though. Everything has almost bounced back now. I would have loved to dump $100k into the market a few months ago and had around $200k now.
That being said, I would buy what's left to finish my car and put the rest into my mortgage. Once house payments go away, that's twice the income I can spend/invest. Granted my taxes would go up, but it's only like a month or 2 of house payments per year. Then, I could buy land and build my retirement home and sell the other house when I retire. |
inflation is overrated, we have obamamoney now.
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Caviar, Cris, and a modest home.
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Pay off the last $65K on the house note which makes us completely debt free. The rest into our regular investment fund. Roth and 401k's are already capped.
Profit. (literally) |
Id put 50K into my mortgage, then refinance it for 15 years and invest the rest.
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hookers and blow
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I'd contribute the maximum amount into my company's 401k that they will match (whatever the yearly limit is), and displace the lost income. Over a couple years that 100k would have turned into 200k invested.
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pay off debt
max out a roth whatever long in the indexes though if the debt is something friendly like schools or houses under 5%, I might just let the indexes cover the mortgage payment. |
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