What would you do if you had 250k and your mortgage and bills paid off?

[Arkitech]

So lets say you came into some money that allowed you to pay off all of your bills, including your mortgage and about 250k remaining. Would you keep working? Would you go back to school? Do some travelling?


I'm thinking I would travel to all the states that I've never had a chance to visit. I would possibly reconsidering moving somewhere warmer than Chicago that has cheaper real estate. (Mississippi, Alabama, etc..)

 

[Suspicious-Teach8788]

250k is not much but I would definitely travel.... I'd take a good 3 months vacation actually and travel the world. Come back and then look for a job again. 250k doesn't last forever...

 

[cliftonite]

I would save it for retirement or if I had kids I would put it away towards their college fund.

 

[Epic Fail]

250k doesn't last a day

 

[maddogchen]

keep working but take more expensive vacations.

 

[Mr Incognito]

I would buy the best mountain bike I could buy and move to Whistler BC, become a lift attendant and invest the rest.

 

[Imported]

Stop working for a year or three and go back to school.

 

[AgaBoogaBoo]

Originally posted by: yamadakun
250k doesn't last a day

With mortgage and bills paid off, unless you're thinking of an extreme scenario, that could last a bit of time, especially if you invested what you didn't need. A bit of time would be 5-6 years, maybe a little more depending on how bad your real estate taxes and such are?

 

[TuxDave]

Originally posted by: yamadakun
250k doesn't last a day

What country are you from? Are you using Somaliland Shillings?

 

[gsethi]

put it all on Black. If won, retire. If lost, continue whatever I was doing the day before.

Seriously, 250k is not much. Would invest it somewhere and continue doing what I am doing now.

 

[jjones]

Well, I've got the mortgage and bills paid off already so, if I had that kind of cash land in my lap right now, I'd invest nearly all of it in my company and just keep working. Even if I had the cash, I can't take any real time off right now, so I'd probably plan a short trip to see my folks during Christmas, buy a couple of toys like maybe finally getting a console, give a little to the wife to spend, and that's about it.

 

[NoShangriLa]

1. Quit my job & start my own geothermal mechanical plumbing company.

2. Or, buy a house in cheap America & rent it out, then sell it in 2-4 years for profit, and trade the USD in for CAD when the USD go back up to 130-160% CAD.

 

[uclaLabrat]

I like to think I'd surf 3-7 times a week. I'm such a better person when I surf more.

Now I'm just a stressed, angry, cynical and bitter grad student. Good times!

 

[trmiv]

Take a nice vacation, start a business.

 

[tfinch2]

Originally posted by: AgaBoogaBoo

Originally posted by: yamadakun
250k doesn't last a day

With mortgage and bills paid off, unless you're thinking of an extreme scenario, that could last a bit of time, especially if you invested what you didn't need. A bit of time would be 5-6 years, maybe a little more depending on how bad your real estate taxes and such are?

With mortgage and bills paid off, I think that 250k will last more than 5-6 years.

 

[JulesMaximus]

I think I'd take a couple years off and enjoy myself. Probably go to Europe and see an F1 race or two, maybe a couple trips to Maui or Tahiti. Ideally, I'd like to sell my house and live on a 50' sailboat on the bay in San Diego...but my wife would never go for that.

 

[mrrman]

not enough to quit work but would travel and buy a rental property

 

[DarkThinker]

Erm.. I would keep working and watch my money pileup in the bank, diversify my investments here and there and I would try to put a request for a 3 month vacation from work, go back home see family and friends, visit a couple of Islands. Go back to the states buy an M car I have been eying and get back to work while living the good life

 

[50cent1228]

id invest that 250 k in something that gonna give me some more money

 

[Dr. Detroit]

250K aint jack in todays economy!

Stick it in the bank and earn a conservative 5.5 - 6% interest while funding my Company 401K to the fullest.

With he 250K, I figure I could retire five years earlier than planned based on the compounding interest.

 

[pontifex]

Wtf? That's pocket change to your average ATOTer. Goddamn it son, how dare you come in here and insult us in this way? Had you said, $5-10 million, you might have been ok.

 

[JackBurton]

Originally posted by: Fmr12B
250K aint jack in todays economy!

Stick it in the bank and earn a conservative 5.5 - 6% interest while funding my Company 401K to the fullest.

With he 250K, I figure I could retire five years earlier than planned based on the compounding interest.

Seriously man, even with $1 million in the bank, I think I'd still be conservative with my money. And it's only me and my wife.

 

[wyvrn]

Buy real estate. The best investmenting going. The stock market is speculation, and paying off your house with a 6% interest rate is silly when you can invest and make 12% easy, with the ability to double your money every few years.

 

[krunchykrome]

invest, travel a bit, start a company

 

[Boztech]

Pay off the rest of my debt - $34k student loan and $10k car loan.
Set $10k aside in a MM account for an emergency fund.
Set $20k aside for our wedding.
Pay cash for a modest home near Grapevine lake.