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

[Night201]

Originally posted by: cliftonite
I would save it for retirement or if I had kids I would put it away towards their college fund.

Now that's a smart man.

 

[redgtxdi]

Originally posted by: wyvrn
you can invest and make 12% easy,

Man........do I even start??? (bites tongue) :roll:

 

[JEDI]

Originally posted by: 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..)

been there.. done that.

took 2 yrs off from work.

traveled- vegas multiple times, a few other major cities in the US, a few countries in Europe.

went back to school and took some fun classes like Archery.

volunteered at various places for short periods of time.

And i'm still back to this POINT

not rich enuf to retire, not poor enuf to be hungry

 

[preslove]

Finish my degree.
Invest almost all the money.
Go on Appalachian trail.
Backpack Europe & Asia.
Come back in a couple years and look for a job/go back to school.

I would try to spend as little money as possible, take up TESL, maybe.

 

[PeeluckyDuckee]

Depending on where you go and the exchange rate, and whether you're the type to splurge, $250k can go farther than you'd expect. With only property tax and your home utility to worry about (which is practically nil), you're pretty well off. Not live like a king well off, but stress free well off.

 

[thegimp03]

I'd put $20k in a high-interest savings account for a rainy day, invest the rest in the stock market, and continue working.

You can never save too much for school for your kids or your retirement.

 

[wyvrn]

Originally posted by: redgtxdi

Originally posted by: wyvrn
you can invest and make 12% easy,

Man........do I even start??? (bites tongue) :roll:

I do it all the time. If you want advice, I can point you in the right direction.

 

[skyking]

Take a 6 week flying vacation

 

[RossMAN]

I would:

Invest the majority of it.
Travel for a few months.
Work part time for the benefits.
Startup my own company until it was full time then quit part time.

 

[JackBurton]

Originally posted by: wyvrn

Originally posted by: redgtxdi

Originally posted by: wyvrn
you can invest and make 12% easy,

Man........do I even start??? (bites tongue) :roll:

I do it all the time. If you want advice, I can point you in the right direction.

Hey man, PM me in the right direction.

 

[tfinch2]

Originally posted by: RossMAN
I would:

Invest the majority of it.
Travel for a few months.
Work part time for the benefits.
Startup my own company until it was full time then quit part time.

What part time employer offers benefits?

 

[richardycc]

Originally posted by: redgtxdi

Originally posted by: wyvrn
you can invest and make 12% easy,

Man........do I even start??? (bites tongue) :roll:

its possible, one of my stocks has an annual yield of close to 24% now, but nothing is guarantee, it can change tomorrow, just need to keep an eye on it.

 

[ponyo]

Originally posted by: JEDI

Originally posted by: 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..)

been there.. done that.

took 2 yrs off from work.

traveled- vegas multiple times, a few other major cities in the US, a few countries in Europe.

went back to school and took some fun classes like Archery.

volunteered at various places for short periods of time.

And i'm still back to this POINT

not rich enuf to retire, not poor enuf to be hungry

Really? So you took 2 years off since January of this year?

 

[RossMAN]

Originally posted by: tfinch2

Originally posted by: RossMAN
I would:

Invest the majority of it.
Travel for a few months.
Work part time for the benefits.
Startup my own company until it was full time then quit part time.

What part time employer offers benefits?

Good point, make that quasi-semi-part time (30 hours)

 

[sao123]

The mentality in this thread is alarming...

Powerball multi-millionaires have gone broke in as little as 3 years... and you guys are gonna quit your job over a lousy 250K???

I think you should all buy my new audio CD for $30... it explains how not to live your life if your should ever recieve a large lump sum payment of money for any reason.

 

[Squisher]

I already quit working, but I'm up for the money. With 250K, I'm sure I could suck $1500/mo. out of it for the next thirty years (investment income+principle).

Hmmm, $1500/mo., lease+insurance on a Z06 (employee discount) and at least one super trip a year.

 

[Shadowknight]

I'd invest $230,000 in a low-risk investement, and use the rest on making a home-theater room, including movie-theater seating and a popcorn maker.

 

[Captante]

Originally posted by: 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.

:thumbsup:

 

[chuckywang]

All on red, baby!

 

[Rogodin2]

I'd buy more fertile land and build out my homestead/retreat/bunker.

Rogo

 

[coldmeat]

buy a $250,000 car

 

[rockyct]

I'd probably teach. It would pretty much be the perfect job if you had everything paid off and a very large wad of cash. The salary from teaching would be plenty enough to cover daily expenses (food, gas, utilities, etc) and you still only work 10 months out of the year. Plus, it works great if you ever got married and had kids.

 

[intogamer]

You can get the best interest rate if you have that much money.

 

[DivideBYZero]

That is no where near enough to stop working.

 

[intogamer]

Originally posted by: JEDI

Originally posted by: 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..)

been there.. done that.

took 2 yrs off from work.

traveled- vegas multiple times, a few other major cities in the US, a few countries in Europe.

went back to school and took some fun classes like Archery.

volunteered at various places for short periods of time.

And i'm still back to this POINT

not rich enuf to retire, not poor enuf to be hungry

In order to succeed you must FAIL.