Recent windfall

[Dice144]

What would you do if you had just got a 15k unexpected windfall. With a additional monthly settlement of about 1.2k. The monthly payments (pension) should only go up not down.

My brain tells me to shove 75% of it in stock market and rest to pad my emergency fund.

My heart is saying HEY put it on the house and cut mortgage down a few years.

I know stock market SHOULD return more than the 3.5% mortgage interest. Sitting on the cash until I can make my darn mind up.

Lazy part of me is saying mutual fund, but I enjoy actually hand picking stocks.

 

[TwiceOver]

How long on the pension payments? Personally I'd pay any debts I have besides house, pad my emergency out to 6 months then the rest to Roth.

 

[Imp]

Mortgage interest is stupidly low, which you've already realized. There are a bunch of stocks/ETFs that pay >6% now and they should be secured (?) dividends. Obviously, there's market risk still/

 

[Schmide]

We heard from you're brain and heart, what does your peen say?

That video card needs a water block?

 

[Lifted]

Pay down your mortgage? Don't be a pussy bro. Get a used M3. Only 116k miles AND you'll still have $2k for the bitches!

 

[Dice144]

Pay down your mortgage? Don't be a pussy bro. Get a used M3. Only 116k miles AND you'll still have $2k for the bitches!

lol

 

[RaistlinZ]

I'd fix up things around my house that need fixing, put the rest in savings.

 

[olds]

We heard from you're brain and heart, what does your peen say?

...

Hookers and blow.

 

[who?]

Don't you get a deduction on mortgage interest?

 

[clamum]

In your case, I guess mutual funds and savings.

In my case, I'd buy a couple of pistols and rifles, and save the rest (total of guns I'd buy probably around $3,000. Oh and I forgot that Burris scope. Make that $3,450).

 

[ElFenix]

Don't you get a deduction on mortgage interest?

you can, but for a lot of people itemizing still isn't worthwhile.

not to mention, it's better to not spend $1000 on mortgage interest than to spend $1000 on mortgage interest and then take $1000 off your income for tax purposes.

 

[dr150]

Pay down your mortgage? Don't be a pussy bro. Get a used M3. Only 116k miles AND you'll still have $2k for the bitches!

"Bitches" will know you have an old high mileage M3 and that the driver was too poor to properly upgrade 86,000 miles ago.

When they sit in the passenger seat and see the broken and painted over scratched-up plastics and feel the sinking broken cushion, they'll know you use the car as a taxi or have/had a Samoan as an ex-girlfriend. :thumbsup:

Either way, you're fucked if you manage to reach the cheap apartment you share with 3 other Community College video gamers.

Better to get one of these:

......At least she'll think (erroneously) you have a big shamaladingdong.....

 

[mistercrabby]

How long on the pension payments? Personally I'd pay any debts I have besides house, pad my emergency out to 6 months then the rest to Roth.

this.

 

[Eug]

Mortgage (assuming you don't have other debts).

 

[MontyAC]

Save/invest most of it and take a nice vacation.

 

[Zargon]

How long on the pension payments? Personally I'd pay any debts I have besides house, pad my emergency out to 6 months then the rest to Roth.

this sounds good


maybe buy a new toy....an AR, or a gpu/lcd...somethin 'fun' just cuz as well

 

[jagec]

What would you do if you had just got a 15k unexpected windfall. With a additional monthly settlement of about 1.2k. The monthly payments (pension) should only go up not down.

My brain tells me to shove 75% of it in stock market and rest to pad my emergency fund.

If the mortgage is fixed at 3.5% and you have NO other debts, and a reasonable emergency fund, I'd put 100% of it on the market. 70% domestic/20% international/10% REIT is my current allocation. Keep the REIT and any bonds you might add in a Roth (you're maxing that every year, right?)

 

[nageov3t]

happened to me about 6 months ago.

I bought myself one toy (a new tv), and divided the remaining between flushing out my emergency savings account and investing.

(prior to that, I had 3 months worth of living expenses in my savings account... now I could comfortably live off my savings for 6 months with no other income)

 

[Attic]

Add it all to your investment portfolio. Make it earn money and either reinvest the money it earns (do this) or use those earnings to pay off debt. In ten years it is exceedingly unlikely for the investments to not beat the mortgage rate. Inflation pays down part of your debt anyway, so as long as you don't default don't worry about low rate debt, let time help kill it through inflation.

 

[ViviTheMage]

lol, happened to me recently, bought a new john deere and some other toys for the house

drop the majority into savings/back up funds, give yourself a solid 6 months.

 

[Fritzo]

I have a ton of bills that $15 would pay off. Dentist, credit card, car...$15K would save me about $1000/month

*sigh*

 

[mcvickj]

I wish I had a $15k windfall. Would make wedding planning a little easier.

 

[nageov3t]

I wish I had a $15k windfall. Would make wedding planning a little easier.

it was simultaneously nice and panic-inducing when it happen to me.

my company got bought by an outside firm, so all of our stock options were bought-out... having that extra money in my bank account helped me stress out less about and possible lay-offs, though.

 

[Dice144]

It is for the rest of my life and goes up as long as COLA goes up. ( its a disability payment) I just said pension cause it was on my mind at the time. Got hurt while in service. Finally got the months of back pay that took forever to get.

So roughly $1200 a month plus inflation raise (hopefully).

 

[HardcoreRobot]

prob just short term savings acct until we buy a SFH, then id make sure we have 6mo-1yr of savings, the rest into a low fee index fund.set it and forget it