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Offlinedesiretoheal
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so my gf just got $80 grand..need some advice
    #11170002 - 10/02/09 03:42 PM (8 years, 3 months ago)

she collected her mothers life insurance since she recently passed away and my girlfriend lives with me(as well as my mother and brother). We are both young and somewhat inexperienced with financial matters(her being 19, and me being 21). That is definitely a huge sum of money seeing that we generally are used to living in fairly low-income situations and it's a little intimidating to be quite honest. What would be a few appropriate approaches to keep this money stretched so that her life is much more secure. She goes to a community college right now and is having tough lucky finding work, just like many others. She is gonna check out a few "cd" rates at her bank right now and find out what's best to build upon what she has. She was also told by some sources that she should invest in a condo, but the economy looks quite grim, which leaves many questions on big investments. I am also a little timid on asking my mother about this because she is a bit sketchy and greedy as much as I hate saying it.

It's intimidating taking such a step into the financial world, but hey, we gotta learn somewhere. I just am hoping some of you have some solid advice on a few steps she should take with handling her money. In no way is she trying to go on some shopping spree. Should she invest? Should she just save up in bank "cds"/accounts? As much as I like to think I can give her advice, I know I am not the greatest source seeing that I have no solid experience to this degree.




*I didn't post in "Money Matters" because it seems to be lacking in viewers. Feel free to toss this over there if the thread placement bugs anyone.


--------------------
If there were no rewards to reap,No loving embrace to see me through
This tedious path I've chosen here,I certainly would've walked away by now.
Gonna wait it out.
If there were no desire to heal The damaged and broken met along
This tedious path I've chosen hereI certainly would've walked away by now.
And I still may ... (sigh) ... I still may.Be patient.
I must keep reminding myself of this.


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Invisiblesubject
eat the sun
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Re: so my gf just got $80 grand..need some advice [Re: desiretoheal]
    #11170013 - 10/02/09 03:44 PM (8 years, 3 months ago)

If I had 80gs I would take the money and get the fuck out of america. go to mexico and be a baller.

thats just me.


--------------------
nappy then, nappy now, nappy for a bit
knee deep head over heals in this country shit


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OfflineRocker232
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Re: so my gf just got $80 grand..need some advice [Re: desiretoheal]
    #11170016 - 10/02/09 03:45 PM (8 years, 3 months ago)

A CD is definitely a great option, but how much money does she make? 80 Grand is a lot of money...but its not enough to last her a lifetime. I would say if she can support herself right now she should keep doing that. Does she have a car? Where does she plan to go to college? Does she have any debts?


--------------------
With Allure I Look to the Sky With Awakened Eyes


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OfflinePartyMarty4000
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Re: so my gf just got $80 grand..need some advice [Re: subject]
    #11170021 - 10/02/09 03:46 PM (8 years, 3 months ago)

Quote:

subject said:
If I had 80gs I would take the money and get the fuck out of america. go to mexico and be a baller.

thats just me.



Costa Rica


--------------------


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Offlinecircularvortex
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Re: so my gf just got $80 grand..need some advice [Re: desiretoheal]
    #11170024 - 10/02/09 03:47 PM (8 years, 3 months ago)

Wiccan_Seeker had a few very good threads about investing in gold, which I think is a fantastic idea, especially in the times of economic hardship we're having.

I'm not very experienced in matters of finance, but I personally would probably put half of it into gold, a quarter into a Roth IRA or a long term government bond, and blow the other quarter, or use it as living expenses if that were necessary.


--------------------
No statements made in any post or message by myself should be construed to mean that I am now, or have ever been, participating in or considering participation in any activities in violation of any local, state, federal, or fashion police laws. All posts are works of fiction.

For well you know that its a fool who plays it cool
By making his world a little colder.

Under closer inspection I realised it was a funky ball of tits from outer space.



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Invisiblesubject
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Re: so my gf just got $80 grand..need some advice [Re: PartyMarty4000]
    #11170025 - 10/02/09 03:47 PM (8 years, 3 months ago)

Quote:

PartyMarty4000 said:
Quote:

subject said:
If I had 80gs I would take the money and get the fuck out of america. go to mexico and be a baller.

thats just me.



Costa Rica




so true. i dont know what I was thinking.

you can get some dank shit in CR for 80 grand. some nice land and a small house.


--------------------
nappy then, nappy now, nappy for a bit
knee deep head over heals in this country shit


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InvisibleKrishnaDreamer
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Re: so my gf just got $80 grand..need some advice [Re: desiretoheal]
    #11170034 - 10/02/09 03:48 PM (8 years, 3 months ago)

dude wtf? don't buy a CD (yes, i'm referring to the bank). with inflation you'll probably gain little, not gain at all, lose money, or lose it all.

the condo seems like a good idea depending on what your local real estate is worth. right now is the best time to buy real estate anyway.

i would buy real property worth real value.

but then again i'm not the most educated on the subject.


--------------------
Everybody's a ninja...


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Offlinedesiretoheal
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Re: so my gf just got $80 grand..need some advice [Re: subject]
    #11170044 - 10/02/09 03:51 PM (8 years, 3 months ago)

ha, yeah she definitely wouldn't mind leaving this place to start a new life. She would like me to come with her of course, and I wouldn't mind..we just need to make sure our relationship is going where we are hoping it is. This money issue can easily turn awkward, but I am just looking out for her stability.


--------------------
If there were no rewards to reap,No loving embrace to see me through
This tedious path I've chosen here,I certainly would've walked away by now.
Gonna wait it out.
If there were no desire to heal The damaged and broken met along
This tedious path I've chosen hereI certainly would've walked away by now.
And I still may ... (sigh) ... I still may.Be patient.
I must keep reminding myself of this.


Post Extras: Print Post  Remind Me! Notify Moderator
Offlinedesiretoheal
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Registered: 08/16/09
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Re: so my gf just got $80 grand..need some advice [Re: KrishnaDreamer]
    #11170055 - 10/02/09 03:53 PM (8 years, 3 months ago)

Quote:

KrishnaDreamer said:
dude wtf? don't buy a CD (yes, i'm referring to the bank). with inflation you'll probably gain little, not gain at all, lose money, or lose it all.

the condo seems like a good idea depending on what your local real estate is worth. right now is the best time to buy real estate anyway.

i would buy real property worth real value.

but then again i'm not the most educated on the subject.




I have heard before too that CD's probably aren't a route worth taking. I definitely need to research that area more.


--------------------
If there were no rewards to reap,No loving embrace to see me through
This tedious path I've chosen here,I certainly would've walked away by now.
Gonna wait it out.
If there were no desire to heal The damaged and broken met along
This tedious path I've chosen hereI certainly would've walked away by now.
And I still may ... (sigh) ... I still may.Be patient.
I must keep reminding myself of this.


Post Extras: Print Post  Remind Me! Notify Moderator
InvisibleM.Reynolds
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Registered: 03/15/09
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Re: so my gf just got $80 grand..need some advice [Re: desiretoheal]
    #11170092 - 10/02/09 04:02 PM (8 years, 3 months ago)

I'm with Krishna.  I wouldn't get a CD because I don't the banking industry.

I wouldn't buy gold because its way too expensive right now.  The recession has caused tons of people to buy gold as they loose faith in other forms of investment.

If you buy a house within the next month over $80000 you can get $8000 from Obama. 

The best advice I or anyone here could give you would be to visit a financial adviser.


--------------------


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OfflineJT
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Re: so my gf just got $80 grand..need some advice [Re: M.Reynolds]
    #11170111 - 10/02/09 04:06 PM (8 years, 3 months ago)

i would put the money in a savings account until she finishes community college, then transfer her credits and use it to pay for school at a real uni. 80 grand should be plenty to cover that, and an education is probably the safest investment you can make..


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Offlinedesiretoheal
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Re: so my gf just got $80 grand..need some advice [Re: JT]
    #11170124 - 10/02/09 04:08 PM (8 years, 3 months ago)

Quote:

JT said:
i would put the money in a savings account until she finishes community college, then transfer her credits and use it to pay for school at a real uni. 80 grand should be plenty to cover that, and an education is probably the safest investment you can make..





that was definitely on her mind too. She is lost on what she wants in a career though. This is time for some hard thinking!


--------------------
If there were no rewards to reap,No loving embrace to see me through
This tedious path I've chosen here,I certainly would've walked away by now.
Gonna wait it out.
If there were no desire to heal The damaged and broken met along
This tedious path I've chosen hereI certainly would've walked away by now.
And I still may ... (sigh) ... I still may.Be patient.
I must keep reminding myself of this.


Post Extras: Print Post  Remind Me! Notify Moderator
OfflineGlenners
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Registered: 05/20/08
Posts: 1,913
Last seen: 4 months, 3 days
Re: so my gf just got $80 grand..need some advice [Re: M.Reynolds]
    #11170130 - 10/02/09 04:09 PM (8 years, 3 months ago)

If you don't need anything then just put it into a savings account until you need some money. You could move out, you could pay off the rest of her schooling. There's alot of options.


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Offline13.step
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Registered: 08/30/09
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Re: so my gf just got $80 grand..need some advice [Re: JT]
    #11170151 - 10/02/09 04:14 PM (8 years, 3 months ago)

That's a pretty good advice

I would buy a house though over anything else or maybe try to start a small business.You could combine the two and buy a small farm or something like that...then you would also get to go away and live a healthy lifestyle=WIN.

But don't forget it's just money,don't take it to serious.


--------------------
Not to be taken seriously by any means!


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InvisibleGr33nTree73
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Re: so my gf just got $80 grand..need some advice [Re: circularvortex]
    #11170152 - 10/02/09 04:14 PM (8 years, 3 months ago)

Quote:

circularvortex said:
Roth IRA or a long term government bond.




nuff said, just dont put all your money into one place though, never a wise decision


--------------------


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OfflineHopanDubMan
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Re: so my gf just got $80 grand..need some advice [Re: Gr33nTree73]
    #11170158 - 10/02/09 04:16 PM (8 years, 3 months ago)

Put 50-60g's in a 12 month CD. So you don't spend all of it.
Plus the money will grow if you put it in that shit.

If you have debts that need to be paid off, I suggest paying off ALL of those.


--------------------


WakaWaka


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InvisibleKrishnaDreamer
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Re: so my gf just got $80 grand..need some advice [Re: Gr33nTree73]
    #11170160 - 10/02/09 04:17 PM (8 years, 3 months ago)

yeah, help us pay off our national debt lol.

i still say go with real estate; houses that were worth $250 grand are selling for 150 now. i'd say that'd be the safest long term investment you can make.


--------------------
Everybody's a ninja...


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Offlinejenns_hot
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Re: so my gf just got $80 grand..need some advice [Re: Gr33nTree73]
    #11170168 - 10/02/09 04:18 PM (8 years, 3 months ago)

talk with a financial advisor. in all seriousness they are much more reliable, generally, than the majority of shroomerites. 
when you guys get the money, put it in a savings account immediately, and let it sit there until you come up with a decision that you both are comfortable with.

like krishna, i would probably invest in some property... it's a risk but a fairly low one.


--------------------
"Fear makes the wolf look bigger"


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Offlinedesiretoheal
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Re: so my gf just got $80 grand..need some advice [Re: KrishnaDreamer]
    #11170180 - 10/02/09 04:21 PM (8 years, 3 months ago)

haha, the national debt will never be paid back.

Yeah there are no big plans. I will talk to her how she feels about investing into real estate. I definitely don't think Chicago is a good however, at least personally.


--------------------
If there were no rewards to reap,No loving embrace to see me through
This tedious path I've chosen here,I certainly would've walked away by now.
Gonna wait it out.
If there were no desire to heal The damaged and broken met along
This tedious path I've chosen hereI certainly would've walked away by now.
And I still may ... (sigh) ... I still may.Be patient.
I must keep reminding myself of this.


Post Extras: Print Post  Remind Me! Notify Moderator
Offlinedesiretoheal
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Registered: 08/16/09
Posts: 1,286
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Re: so my gf just got $80 grand..need some advice [Re: jenns_hot]
    #11170188 - 10/02/09 04:23 PM (8 years, 3 months ago)

Quote:

jenns_hot said:
talk with a financial advisor. in all seriousness they are much more reliable, generally, than the majority of shroomerites. 
when you guys get the money, put it in a savings account immediately, and let it sit there until you come up with a decision that you both are comfortable with.

like krishna, i would probably invest in some property... it's a risk but a fairly low one.





yeah I will see what we can do about talking to a financial advisor.

This may sound really amateur, but is there any risk being run by letting money sit in a savings account? I never liked banks..I always feel you get robbed somehow.


--------------------
If there were no rewards to reap,No loving embrace to see me through
This tedious path I've chosen here,I certainly would've walked away by now.
Gonna wait it out.
If there were no desire to heal The damaged and broken met along
This tedious path I've chosen hereI certainly would've walked away by now.
And I still may ... (sigh) ... I still may.Be patient.
I must keep reminding myself of this.


Post Extras: Print Post  Remind Me! Notify Moderator
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