View Full Version : If someone gave you $100,000 what would you do?
Crow Hunter
07-08-14, 07:55
Here is a thought experiment.
Someone gives you $100,000 free and clear, no taxes, no nothing, no stipulations. You have $100,000 cash in your hand that you can use however you want.
What do you do with it?
Please be as honest as possible not try to meet any expectations. If you would really spend it on hookers and blow, write that down. If you would give it away to the ACLU, write that down. Buy a Porsche or a WWII BAR, build a bunker in Montana, pay down debt, whatever.
I just want to see what people would do with a windfall.
I'll start:
-I would invest 100% of it to meet per my current asset allocation of 70% stocks to 30% bonds.
What would you do?
Voodoo_Man
07-08-14, 08:04
Use it to start a grow in a marijuana legal state.
edit; for legit selling purposes.
High class Hookers and Viagra.
HackerF15E
07-08-14, 08:08
Down payment on a house. 100K isn't that much.
Buy land and get the hell out of NJ. That 100K along with the sale of my condo will be a nice down payment on the funds I need to built my dream home.
We retire our mortgage in Sept or Oct (only about 5 grand to go), so we really don't have any debt to speak of. I would add on to my house, buy some guns and ammo, take my family on a nice vacation, save/invest the rest.
I'd give it Clinton's campaign fund. They're going to need it to defeat those evil Republicans and Tea Party terrorists.
Again an attempt to throw off the libs and NSA.
Actually I'd buy another rental property.
Spurholder
07-08-14, 08:27
Rural property...
I really f'd up by buying a single family home in a nice neighborhood. Hard lesson learned.
Use 25k to pay off cars, school loans.
Buy 25k in bitcoin to play with, or some other ultra risky investment.
Use 25k to pay down house note.
Use 15k for cash savings for incidentals.
10k goes to donations.
I already have 175 acres with a house or that would be in the mix.
Write full time and finish my book
I would use it (and is currently what I am doing) to put a down payment on a second house in the South. No one gave me the $100K I have though (had to work for it). ;)
C4
Buy an ARFcom lifetime membership!!
Eurodriver
07-08-14, 08:47
I have no debt, and I'm a millenial. The government will take care of me in retirement and if I save for it it'll be seized anyway.
I'd honestly buy a Mercedes C63 AMG and give the rest to friends and family.
Buy an ARFcom lifetime membership!!
AMEN!
C4
JBecker 72
07-08-14, 09:04
Motorcycles, lots of them.
I'd go home.
-------------------------------------
"One cannot awaken a man who pretends to be asleep."
BrigandTwoFour
07-08-14, 09:10
A small percentage would go to clearing all remaining debt for my family (which is only a few thousand on a car payment at the moment). Might buy a couple toys (guns, cooking equipment, motorcycle, who knows). About $50k-$60k would be invested. The remainder would go towards buying a few acres somewhere out west (Montana, Wyoming, maybe Oregon). If the remainder wasn't enough to do that, it would also be invested until I had enough assets to do so.
But I don't expect anyone to ever hand me $100k with no strings attached.
Whiskey_Bravo
07-08-14, 09:14
I would put part of it in savings and investments and the rest would go towards a down payment on land.
BoringGuy45
07-08-14, 09:27
Pay off all our debt (about $45K in school debt). Invest at least 10K in stocks. Get some better health insurance for myself and my wife. Finally buy a few of the guns I've been coveting. Get my wife some better advertising so her real estate career can finally take off.
I'd pay off all unsecured debt. The rest would go to property somewhere not here.
Dan
What I'd want to do:
https://sp3.yimg.com/ib/th?id=HN.607995446078933999&pid=15.1&P=0
What I would do:
Pay off my home and both cars, plus buy a new zero turn mower with a 60" deck (my tractor is 17 years old). $100K would just about do it. From there all our income past utilities would get saved and invested for retirement. The security and peace of mind that would bring exceeds the value of the money itself.
militarymoron
07-08-14, 09:37
we don't have any debt (we own our home and vehicles), but i'd probably allocate it as follows:
10k - mod my current car (supercharge or turbo it, and suspension mods). maybe.
5k - guns and ammo slush fund (nothing currently on my want list)
15k - family vacation fund for two years to visit places we've never been to (two 7.5k trips)
let my wife invest the rest - probably half in more risky stuff and the other half in more stable stuff.
crusader377
07-08-14, 09:39
I would use 15K to pay off all remaining debt except for house. 15K to further strengthen our reserve account. 20K total to strengthen my college savings for my two kids. 40K to invest. The final 10K would be fun money (family trip, maybe 1-2 cool guns, nice gift for wife etc..).
I would apply it entirely to my mortgage. That would certainly be a blessing as that would get me closer to paying it off and then allow me to save for college educations for my daughter and her future brother or sister.
Invest in durable goods, some precious metals and pay off the house so I could be completely debt free. For example, I'd finally get the well dug and off-grid power (solar + wind). Plus buy some "buffer" land and run some cattle/goats.
Make some major updates to home, sell it, take equity and remaining cash and buy new home for that amount. Then use my income to buy fixer-upper and renovate for rental or sale.
Why does it make a difference if someone gave it too you? I made a big chunk in a short time from a fluke stock gamble with my tiny Roth IRA funds. Bought a new lux sedan then came to my senses before I blew the whole pile. Sold boring car and bought my beloved 12 year old Land Cruiser.and now spend only the dividends. Learn that lesson early and you will never go broke. Of course I also diversify into post-Republic currency - ammo.
Put under mattress since this country is just about gone to shít...:sarcastic:
montanadave
07-08-14, 10:39
Pay off the mortgage on the ranch.
Crow Hunter
07-08-14, 11:19
Why does it make a difference if someone gave it too you? I made a big chunk in a short time from a fluke stock gamble with my tiny Roth IRA funds. Bought a new lux sedan then came to my senses before I blew the whole pile. Sold boring car and bought my beloved 12 year old Land Cruiser.and now spend only the dividends. Learn that lesson early and you will never go broke. Of course I also diversify into post-Republic currency - ammo.
Behavioral economics.
The orgin of a windfall will often affect how a person will use it.
People are often more conservative with money they have earned themselves, slightly less conservative but still conservative with money they have inherited from a loved one versus money they were given or found or won in a lottery.
I find it interesing how many people would invest in land vs stocks/bonds and how many save versus spend.
Of course we are not the average man on the street either. I figure this question asked as a general question on the street would get a response of roughly 47% of people who would invest/save/pay off debt and a 53% blow it.
gunrunner505
07-08-14, 11:20
Put it in an interest bearing account and use it to put my kids through college.
HackerF15E
07-08-14, 11:35
Put it in an interest bearing account and use it to put my kids through college.
Must be some serious interest to be able to generate enough to put more than one kid through college!
gunrunner505
07-08-14, 11:37
Must be some serious interest to be able to generate enough to put more than one kid through college!
No kidding, but its a good start. I have 3 all under 6 so there's a little time for interest to work it's magic. I'm basically broke for life. But I wouldn't trade them for anything. All worth it.
Right now it would sit with the other similar value I have waiting to function as a first house. I would continue to feel like a complete a-hole for not putting a fraction of it towards charity, but probably do so and just try to achieve my goal of being utterly debt free and then shuffling mortgage payment equivalents to charitable uses.
Pay off my car and other debts, then trade both my car and my truck in on a new crew cab diesel truck. Then with the remaining $73,000 I'd start expanding my range on the farm I already have a range on. $25,000 of the remaining 30-40K would go into a long term CD and the rest I would finally take a long vacation.
I'd buy a pair of GPNVG-18s and install blackout lights on a riding lawnmower so I could mow my grass at 3am if I want to.
As for the rest of it, I'd probably just save it for when I ETS and go to college so I can earn my master's without having to take out a loan.
Two chicks.
Pay off remainder of mortgage.
Down payment on second home in a more northern state.
Another NFA toy if I can find a deal.
WickedWillis
07-08-14, 12:46
I'd pay off all un-secured debt. Put a nice down on a house or a property. Maybe buy a new pickup, but the house would be the major priority.
Two chicks.
Totally watching that movie now while at the Station.
- Back on subject -
TriviaMonster
07-08-14, 13:58
10k for guns and fun
90k to sue as many liberals for frivolous things as possible. Maybe find a way to sue Feinstein.
Sent from my Galaxy Nexus using Tapatalk
75k on a piece of land in Vermont I want, remaining 25k on a cabin/bunker.
Take a vacation. Haven't had a week off of work in 16 years.
Put $60,000.00 of it into my sons college fund pay of my unsecured debt, and take my wife to Hawaii (or send her alone, her choice). :-)
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Put under mattress since this country is just about gone to shít...:sarcastic:
I'd take a hard look at going someplace warm that has a brighter economic future.
Two chicks.
At the same time?
75k for a sizable down payment on some country property(good acreage) & house, then pick up a .22 pistol with a threaded barrel, and send off for a tax stamp. The rest would go towards a older truck for a rebuild project. Still narrowing down what the project truck would be though...
At the same time?
Is there nay other way?
Pay off all of our debt except the house. Give some to my parents and the inlaws. Replace the wife's dying car. Put the rest in savings.
I'd take a hard look at going someplace warm that has a brighter economic future.
At the same time?
But of course, that is implied.
Leaveammoforme
07-08-14, 16:25
Only saw 2 (sadmin, tehllama) charity references. I'll add a third. Would triple tithe it then be left with 70,000 more problems than I had the day before I got the money. I got what I need and rarely have time for my existing toys/hobbies.
Some vacation land up around 5000 feet here in AZ
Not sure I could find what I want for that ?
gunrunner505
07-08-14, 16:44
But of course, that is implied.
As long as they're both rentals.....
Outlander Systems
07-08-14, 18:47
Sell my house, put the fresh loot in the pot, and move to the country faster than Obama can flush a republic down the drain.
Moose-Knuckle
07-08-14, 19:32
Convert it to gold bullion and bury it away until after the dust settles once this house of cards crumbles.
As it happened, I had about that much come to me in two chunks; the first a class action lawsuit against my employer that oddly enough paid off well (a co-worker harangued me into signing on and even loaned me the stamp for postage). The second was another chunk from my father's estate. As it happened I was already decently retired, owned my home free and clear, and was living where I wanted to be.
In practice about 1/3 or more went towards kids' college, 1/3 to Toyotas, and 1/3 to guns and components. Stretched the hell out of all of it. No visible changes in my lifestyle. Am I grateful? Darn right.
Buy land in the middle of nowhere and build a cabin.
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decodeddiesel
07-08-14, 22:24
Pay off debts, pay off student loans, begin a college fund for my daughter.
Buy another backhoe (used) and mini-excavator (new)and add it to my rental fleet. Last time I spent $100K on equipment I tripled my investment in four years.
Build a 1,000 yard rifle range.
Pay next year's Obamacare premium...
Pay off the house mortgage, that would free up $2,200/month. Use that monthly amount for savings, home improvements, save for a used truck.
Voodoochild
07-09-14, 05:55
Buy an ARFcom lifetime membership!!
And then immediately get banned and come back with multiple lifetime membership troll accounts.
I'd buy a complete solar system for my home so I'd be completely free of utilities. I'd use the rest to pay down the mortgage.
Payoff the mortgage and then take that monthly payment and put it into investments. I'd be completely debt free.
Pay off debt and set up son's college fund.
brickboy240
07-09-14, 11:36
Pay the last 3 years of my mortgage and put the rest with my investment guy in my retirement accounts.
I have no other debts, no credit cards, no loans, no car notes. All of my cars are running fine and although my house could use some basic improvements...I would rather have a larger "head start" on retirement monies so maybe I can retire ever earlier. This is more important to us than a fancy car, nice watch or other status items.
-brickboy240
bluejackets92fs
07-09-14, 15:31
25k to pay off my car and other debts
25k down on a house
25k in savings
10k invested into stocks
10k towards a vacation and expenses on the trip(leftovers into savings)
5k play money.
ColtSeavers
07-09-14, 15:44
1st: Pay off credit cards, auto loan... etc.
2nd: Take what's left and put it into paying off the house mortgage.
Have my Dad's old Bronco rebuilt.
Finish off what remains on the guns/ammo/gear wish list.
Buy myself a nice used Toyota truck.
Not sure how much would be left after that.... :laugh:
Alternatively, find a way to turn it into $200,000 or better, cuz 100k ain't all that much these days...:rolleyes:
Fantasy- start my own tactical gear company, something I've been itching to do for quite a while now...
Stay self-employed till it was all gone...
Robb Jensen
07-09-14, 19:40
I'd pay off my medical bills, about $35K right now of which 0% help comes from healthcare for the treatment of chronic Lyme and co-infections.
I would use it (and is currently what I am doing) to put a down payment on a second house in the South. No one gave me the $100K I have though (had to work for it). ;)
C4It is better when you earn the money rather than get it for free like a government agency or welfare recipient.
It is better when you earn the money rather than get it for free like a government agency or welfare recipient.
For sure.
C4
If I had the money, I would buy a gun shop and keep it open until the money runs out.
First is to Pay off my debts (less than 20k). Then save/invest 50k. The rest of the 30k I can buy land and a used truck (15k for land, 15k for truck).
It is better when you earn the money rather than get it for free like a government agency or welfare recipient.
Been working so hard for almost nothing over the years, honestly at this point I'd be fine if it was given to me. Make no mistake I'd rather earn it, but since I've been putting in the work anyway and basically getting my pocket picked I wouldn't mind a handout from those who have been picking my pockets.
SeriousStudent
07-10-14, 23:30
I'd start by buying a thank you card for the person that gave it to me.
It is better when you earn the money rather than get it for free like a government agency or welfare recipient.
While it's more emotionally satisfying to earn something than be given it, I also don't look a gift horse in the mouth.
That being said, I'd spend it on something I don't normally spend money on, not on paying off my (non existent) debt nor investing it.
So yeah. Gambling is something I never do, so I'd probably gamble with some of it.
Maybe buy a nice dinner.
Perhaps an H&k gun or two.
That'd probably account for all the money.
Magic_Salad0892
07-11-14, 00:40
My friend's son was just diagnosed with cancer. I would pay for the treatments.
Otherwise, I would spend the majority of it on all the guns I want.
ETA: That friend is in the room with me, and the treatments are getting paid for, which I did not realize about a minute ago.
Crow Hunter
07-11-14, 07:05
Having just lost my Mother to cancer. My thoughts are with your friend. May his son have a speedy recovery.
CleverNickname
07-11-14, 14:26
Everything on black. :)
Nah, I'd pay off my mortgage.
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