Home Forums Hunting & Shooting Hunter's Campfire What to do with 100k?

“I bought my moms a car, and spent the rest on PCP.”

Buy a bunch of guns

Pay off rest of house and any other loans.

Paying off the house isn't always the best plan. Figure your after tax deduction cost of the mortgage. If you can earn more than that from an investment, invest. With things as crazy as they are in the current economic environment, it wouldn't hurt to hang on to some cash. Not only for emergencies but to be prepared if an investment opportunity presents itself.

Pay off the camper (and any other installment plan that costs you a nickle in interest) and put the rest on the mortgage.

If there's any left, it depends somewhat on your age and goals? Have you saved for retirement?

you'd be better off just putting half in cd's for a few years and using the other half to pay the house payment unless you have some stupid interest rate.if you are on the last half of your house loan then you are not paying that much interest anyway.

my wife is retiring from UPS this fall and that's what we will do. then pay off everything else in small bills. at todays rates you can do a little buying and selling along the way when you find something to make a money on and in the end make with more profit than you would by investing.plus you will have a big chunk of money if something happens.

How about a cheese hat, then buy a few tickets for the 2020 Packers.

Slumlord is right, pay off house.........get and stay out of debt.

Your property taxes will likely double in the next few years. Another permanent change the politicians will be allowed, because of the fever.

First thing would be to see my financial advisor that I've had for about 30 years. I run my ideas past her and she will ask me what the hell am I smoking? Then tell me what the tax consequences will be and all other relevant things that I never thought of. So I wind up going with her idea instead of mine and over the years she's got a lot better track record than I would have had with my grandiose ideas.

Slummy hit it as usual ,if there was any left over put it to work. Allways pays to have cash laying around to capitalize on good deals of items you can make money on. Buy low sell high is still the original way to make money. No such thing as to much money. When you have exactly 0% in interest due every month you can really get ahead. Now if a guy could get around insurance premiums and taxes he could get to be a millionaire MB

I’d give it to me.

Jason,

I was recently looking at CD rates and Ally (generally the leader in the category) is at 1.5% right now.

If you've got a 2.75% offering, give us the 411, brother!

You win!

They burned the last of the hookers for fire wood back in the winter of '86.

Thanks everyone
I’ll talk to someone about investing as that whole thing is above
My pay grade.

Thinking I’ll keep the other half and put it towards the house slowly... $1000 a month principal payments that way I still have can cash on hand

Buy illicit tomato seeds and smuggle them into Michigan.
Quintouple my hundredK

Dre: I am in fact "living" your scenario in real life!
I am shying from the stock market as my $100,000.00 "CD" just matured and I am looking for a "rental property" with all of its tax advantages (ways to diminish hide income) write offs etc, over waiting for another "pleasing" jumbo CD rate to come along (which hasn't happened in the last two months that I can find).
Have other monies to "spend".
Hold into the wind
VarmintGuy

New custom rifle and a desert sheep hunt would just about take care of it. I'll go if you don't want to.....grin.

A real planner is going to need to know a lot more info than we all have about you, to give you good advice.

But holding onto a mortgage to write off a tiny bit of it is usually a loser of an idea.

Forgetting the interest part...look at the cash flow part. It will free up a whole mortgage payment worth of cash flow every month, forever. Sometimes that makes all the difference.

If you want safe and interest and accessibility its gonna be a tiny little interest percentage.

If you are 30 years from retirement a mutual fund is a good move but if you're 3 years out the right fixed annuity can give you the guarantees and interest and give your family monthly payments forever if something happens to you.

Right now imho the only reason for a CD is to park money somewhere to make SOMETHING while you wait a year or two to make up your mind.

Varmint guy has a good idea with the rentals...lots of write offs and if you buy one with 100k and charge 600 a month that's a hell of a return.

But be prepared to fix toilets and paint etc.

Lots of moves but I would need to know a LOT more about your situation before I gave you advice.

And any planner should tell you exactly that. Run from the ones who have a product ready before they hear you out. I spent 12 years in that business and there are some wonderful people there. And some real pieces of [bleep]. Get referrals.