|
Spooge
The Nutter
Registered: 04/21/04
Posts: 5,189
Loc: Ice patches that last for...
Last seen: 11 years, 2 months
|
What would you do with $25,000?
#5828245 - 07/06/06 04:20 PM (17 years, 6 months ago) |
|
|
I just sold my place and after all debts(besides my new car) are payed off, I'm going to be walking away with roughly 25gs.
I'm unsure what to do with it. I was thinking of paying my car off completely(probably about 17gs to buy it out) and just saving the rest. Or I was thinking of investing most of it. I think it has been decided that I'm for sure putting 4000 aside for travelling.
What would you do with it?
|
king_cobra
Stranger


Registered: 02/27/05
Posts: 2,752
|
Re: What would you do with $25,000? [Re: Spooge]
#5828249 - 07/06/06 04:21 PM (17 years, 6 months ago) |
|
|
spend it all on records
--------------------
|
mndfreeze 
Shroomery Secret Service



Registered: 04/22/02
Posts: 20,529
Loc: PuppetMasterFlash
Last seen: 11 hours, 54 minutes
|
Re: What would you do with $25,000? [Re: Spooge]
#5828262 - 07/06/06 04:22 PM (17 years, 6 months ago) |
|
|
INVEST it.
Pay off Debts first, then invest the rest.
-------------------- Nothing says love like grannies prolapsed anus! quote]Urb said: I know... Its fucked up... Ill fix it minyana..[/quote]
|
Spooge
The Nutter
Registered: 04/21/04
Posts: 5,189
Loc: Ice patches that last for...
Last seen: 11 years, 2 months
|
Re: What would you do with $25,000? [Re: king_cobra]
#5828263 - 07/06/06 04:22 PM (17 years, 6 months ago) |
|
|
I honestly don't even think I could spend that much on cds and records alone.
Although I was thinking of upgrading my stereo system....or possibly some loudass guitar equipment
|
Spooge
The Nutter
Registered: 04/21/04
Posts: 5,189
Loc: Ice patches that last for...
Last seen: 11 years, 2 months
|
Re: What would you do with $25,000? [Re: mndfreeze]
#5828270 - 07/06/06 04:24 PM (17 years, 6 months ago) |
|
|
Quote:
mndfreeze said: INVEST it.
Pay off Debts first, then invest the rest.
I don't know much about investing though, but obviously it's a smart thing to do. If I payed off my car, I'd roughly have 8 grand left. I'd probably only end up investing 4-5 of it. Is that even worth it?
|
mndfreeze 
Shroomery Secret Service



Registered: 04/22/02
Posts: 20,529
Loc: PuppetMasterFlash
Last seen: 11 hours, 54 minutes
|
Re: What would you do with $25,000? [Re: Spooge]
#5828279 - 07/06/06 04:26 PM (17 years, 6 months ago) |
|
|
Nothing wrong with paying off your car and saving money in the long run from interest and removing a monthly payment.
I would suggest investing teh rest into a low risk mutual fund or something. Look at the money as spent and let it sit unless you have an emergency.
A friend of mine invested about 10k and in less then a year lucked out with about 45k, turned around and is buying another house with that as his downpayment.
-------------------- Nothing says love like grannies prolapsed anus! quote]Urb said: I know... Its fucked up... Ill fix it minyana..[/quote]
|
RandalFlagg
Stranger
Registered: 06/15/02
Posts: 15,608
|
Re: What would you do with $25,000? [Re: Spooge]
#5828281 - 07/06/06 04:26 PM (17 years, 6 months ago) |
|
|
Invest.
I'm more of a conservative investor. I have my money in CD's, mutual funds, and a little in a money market account.
Check out Vanguard and American investment houses (they both have good reputations). Vanguard has no front-end or back-end fees which is nice.
|
Spooge
The Nutter
Registered: 04/21/04
Posts: 5,189
Loc: Ice patches that last for...
Last seen: 11 years, 2 months
|
Re: What would you do with $25,000? [Re: RandalFlagg]
#5828288 - 07/06/06 04:29 PM (17 years, 6 months ago) |
|
|
cool cool. Thanks guys.
So a low risk mutual fund seems the way to go.
Yea, I'm thinkin paying the car off would be a smart idea.
|
Asante
Mage


Registered: 02/06/02
Posts: 86,795
|
Re: What would you do with $25,000? [Re: Spooge]
#5828290 - 07/06/06 04:30 PM (17 years, 6 months ago) |
|
|
There are countries in the world where you can live a decent life off the *interest* you can get off those 25 thou.
If you wanna blow some, blow 5 grand on what you like to do, but save/invest the remaining 20.
If you can literally do without the money, consider an obligation, loaning money to the/a National Treasury for some years, yielding a guaranteed interest over the period. Nothing as secure as that, only the nation's bankrupcy will part you from your money.
-------------------- Omnicyclion.org higher knowledge starts here
|
truekimbo2
Cya later, friends.


Registered: 12/08/02
Posts: 9,234
Loc: ny
|
Re: What would you do with $25,000? [Re: Asante]
#5828297 - 07/06/06 04:32 PM (17 years, 6 months ago) |
|
|
take half of it and fill my bathtub with money, take the other half and bet it all on one hand of poker. if i win, repeat.
-------------------- You can check the last post in my journal for contact info.
Edited by truekimbo2 (07/06/06 04:34 PM)
|
lemon_lw
Stranger

Registered: 10/17/04
Posts: 3,622
Loc: That Way
Last seen: 16 years, 4 months
|
Re: What would you do with $25,000? [Re: Spooge]
#5828299 - 07/06/06 04:33 PM (17 years, 6 months ago) |
|
|
i say pay off your car, im sure if you do the math it ends up saving you a few grand
-------------------- In the belly of the Leviathan, one can either despair and perish, or be cheerful and persevere.-Dean Koontz
|
king_cobra
Stranger


Registered: 02/27/05
Posts: 2,752
|
Re: What would you do with $25,000? [Re: lemon_lw]
#5828301 - 07/06/06 04:33 PM (17 years, 6 months ago) |
|
|
invest? pfft, don't you guys know the world is ending soon? :P
--------------------
|
Spooge
The Nutter
Registered: 04/21/04
Posts: 5,189
Loc: Ice patches that last for...
Last seen: 11 years, 2 months
|
Re: What would you do with $25,000? [Re: Asante]
#5828304 - 07/06/06 04:34 PM (17 years, 6 months ago) |
|
|
Yea, I don't know much about that stuff. For me to live comfortably, I need at least 3000 a month. I doubt the interest would be anywhere near that. Although I'm sure you are right, it would still be a substantial amount.
|
Maverick
Lover of Earwigs!



Registered: 12/18/05
Posts: 13,437
Loc: Valleys of Willamette
Last seen: 1 day, 8 hours
|
Re: What would you do with $25,000? [Re: king_cobra]
#5828305 - 07/06/06 04:34 PM (17 years, 6 months ago) |
|
|
Donate me 2grand so I can pay off my debt :P
|
wwonka
Stranger thanfiction


Registered: 01/15/06
Posts: 624
Loc: PNW
Last seen: 10 years, 11 months
|
Re: What would you do with $25,000? [Re: Spooge]
#5828307 - 07/06/06 04:35 PM (17 years, 6 months ago) |
|
|
Dont bother paying off your car completely, it will devalue faster than 25 g's would accrue in a quality investment.
17000 into a car today will give you 3000 in ten years 17000 into a quality investment will give you hopefully 25000 in the same amount of time
Thats my understanding anyway
-Wonka
-------------------- PM me reading suggestions, I might just take you up on your offer.
|
Spooge
The Nutter
Registered: 04/21/04
Posts: 5,189
Loc: Ice patches that last for...
Last seen: 11 years, 2 months
|
Re: What would you do with $25,000? [Re: lemon_lw]
#5828308 - 07/06/06 04:35 PM (17 years, 6 months ago) |
|
|
Quote:
lemon_lw said: i say pay off your car, im sure if you do the math it ends up saving you a few grand
Oh gauranteed. I'm actually on fairly high interest...about 9% over 5 years.
|
Spooge
The Nutter
Registered: 04/21/04
Posts: 5,189
Loc: Ice patches that last for...
Last seen: 11 years, 2 months
|
Re: What would you do with $25,000? [Re: wwonka]
#5828311 - 07/06/06 04:37 PM (17 years, 6 months ago) |
|
|
Quote:
wwonka said: Dont bother paying off your car completely, it will devalue faster than 25 g's would accrue in a quality investment.
17000 into a car today will give you 3000 in ten years 17000 into a quality investment will give you HOPEFULLY 25000 in the same amount of time
Thats my understanding anyway
-Wonka
See, the hopefully part scares me. What if I make nothing at all, or even lose money? That wouldn't be cool, that's for sure.
I see where you are coming from. Even it was gauranteed I'd make 15000 grand, it would still be much more worth it then paying off the car.
|
RandalFlagg
Stranger
Registered: 06/15/02
Posts: 15,608
|
Re: What would you do with $25,000? [Re: Spooge]
#5828314 - 07/06/06 04:39 PM (17 years, 6 months ago) |
|
|
Quote:
entityexperiment said: Yea, I don't know much about that stuff. For me to live comfortably, I need at least 3000 a month. I doubt the interest would be anywhere near that. Although I'm sure you are right, it would still be a substantial amount.
A low-yielding investment is about 2%-4% a year. ($500-$1000)
A medium-yielding investment is about 5%-9% a year. ($1250-$2250)
A high-yielding investment is anything that is 10% or higher a year.
As you can see...you can't live off of the interest on $25,000.
|
Spooge
The Nutter
Registered: 04/21/04
Posts: 5,189
Loc: Ice patches that last for...
Last seen: 11 years, 2 months
|
Re: What would you do with $25,000? [Re: RandalFlagg]
#5828322 - 07/06/06 04:41 PM (17 years, 6 months ago) |
|
|
And obviously I take it, with higher yielding comes higher risk?
|
RandalFlagg
Stranger
Registered: 06/15/02
Posts: 15,608
|
Re: What would you do with $25,000? [Re: Spooge]
#5828344 - 07/06/06 04:47 PM (17 years, 6 months ago) |
|
|
Quote:
entityexperiment said: And obviously I take it, with higher yielding comes higher risk?
You got it.
|
|