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OfflineSpooge
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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?


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Invisibleking_cobra
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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


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OfflinemndfreezeMDiscordReddit
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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]


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OfflineSpooge
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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


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OfflineSpooge
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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?


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OfflinemndfreezeMDiscordReddit
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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]


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InvisibleRandalFlagg
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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.


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OfflineSpooge
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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.


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InvisibleAsante
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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.


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higher knowledge starts here


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Invisibletruekimbo2
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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.


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Edited by truekimbo2 (07/06/06 04:34 PM)


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Offlinelemon_lw
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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


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Invisibleking_cobra
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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


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OfflineSpooge
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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.


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OfflineMaverick
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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


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Offlinewwonka
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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


--------------------
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OfflineSpooge
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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.


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OfflineSpooge
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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.


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InvisibleRandalFlagg
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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.


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OfflineSpooge
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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?


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InvisibleRandalFlagg
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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.


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