 For Rich People...? |
| If your wealthy what is your secret? I was just wondering lol.... |
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 Is 30,000 dollars good for age 13? |
i'm 13 1/2 and i have about 30,000 dollars in my college savings account. my family isnt really rich or poor...is this amount good, bad, or just average?
Additional Details
well i ... |
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| I quit my job without notice last year and now I haven't received my W2! It is Feb. 13th, and I thought I should have it by now. Should I still get it even though I left suddenly on bad terms? H... |
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 What happens if i close my checking account? |
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 Has anyone had? |
| one of the scam emails asking for bank details pretending to be the Abbey National ,i have just received one ... |
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 401K Loans and Credit Cards...Help!!? |
| I have two huge credit cards that need to be paid off, as well as two small ones. I was thinking about taking out a loan from my 401K to pay the small ones off and some of the big ones. It won'... |
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 What is legal tender? |
| Can you define it in simple English please. T... |
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 What should I do with $25,000? |
| I have a check for $25,000 right now I plan to use to buy a portion of a bakery. This will not be for 1- 1 1/2 years so what should I do with the money in the interum?... |
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 I have a lot of debt and I am in need of advice....? |
I have about 15k in credit card debt, 10k in personal debt, and 35k in a student loan. I am overwhelmed with payments!!!
I have heard debt consolidation is a really bad idea. But i am ... |
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 Smartest way to send groceries to relative in another state? |
| I need some good advice. I currently live in Mo, and I have a sister who lives in Florida. She is having some difficult financial times. I thought about sending her a care package, and purchasing ... |
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 Has my old bank forgot I owe them money? |
| I was with lloyds tsb up until last year and I still have a loan with them. I've been trying to find out how long I have left to pay but they don't know who I am. The payments are still ... |
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 How can i make money online the easiest and fastest. (websites)? |
| I dont have enough money to provide for my family so i want to make money online. I want to earn 500 - 2000 dolllars a month. I need a website so easy my 13 year old kid could do it. If its a survey ... |
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Waterlily | If you received $800,000, what would you do with it and be completly honest.? |
Tell me, how would you invest it, how much toward retirement, would you donate any? Would you pay off your house or buy a bigger, newer one. How would you make the money last? Tell me your plan as if you actually had the money and had to make these critical decisions.
Additional Details
I love your answers! Keep them coming! |
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mr_fartson
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I would give it to charity and become a hermit. |
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CactusFlower
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First I would buy a house if I didn't have one ... and then I would invest the rest in tax deferred retirement accounts (IRA's) etc.
I think the answers you'll get here will be very diverse and dependent on the age of the respondent.
I am sure there are plenty of people that would tell you to just blow it on junk. |
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Keep On Trucking
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If the money was tax free, like from an insurance settlement or court judgement, that would make a big difference since taxes would take about 30% off the top. So, for fun, let's say the money is tax -free.
1. Immediately put $100,000 (the max the FDIC will insure) into a CD where I can't touch it. This is the fail-safe if all else goes wrong. It will also provide a little income.
2. Put $500,000 into a brokerage account to buy income-producing assets like grade A tax-free municipal bonds.
3. Wow, the first $600,000 went fast, eh? Of the remaining $200,000, I'd give $80,000 away (that's 10% of the original amount) and buy a house mortgage-free with the rest (yeah, there are parts of the US where this is very possible).
4. The bonds and CD will produce a little more than $2,000 per month after taxes. With no mortgage, I could pretty certainly live on two grand a month. I would make "budgeting" my "job" and get better and better at living within my means each month. I'm already pretty good at that.
5. To keep myself occupied, I would probably start a small non-profit organization to help people and (if needed) to draw a little extra salary from as CEO.
I'm pretty confident I could manage $800,000 myself. $8,000,000 would definitely be out of my comfort-zone so I'd have to get a financial manager to do the books for me. But with the experience I already have I think $800,000 would be OK.
Fun question! Thanks for asking! |
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Nicki
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I'd pay off all our bills, keep our current home as it is not a seller's market and invest the rest for our retirement and our kids' education. |
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cjwise2
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i would pay off all of my debt, put some money away for my two kids to go to college, start up a small business i've wanted to do for awhile but i could never fund it...and put the rest away for retirement. |
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HANNAH
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gosh you ask a lot of questions |
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Morganna
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I would buy a house, furnish the house, and pay bills and if there was anything left it would live in the bank. |
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nowhereuare
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I would use $100,000 of it towards a normal sized average house purchase. I would finance the remainder of the house. I would put half of the remainder into mutual funds and the other half into a high yield CD. I would work a job I loved, instead of a stressful one and I would live simply until I could retire and live off of my interest. |
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Crazy cat lady >^ ^<
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Buy a house with some, give to a animal shealter and save the rest for my golden years |
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neogeoloco@sbcglobal.net
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I would put it in the bank for two years, and purchase a house as soon as I graduate college. I would use some of the remainder to buy a new, reliable daily driver car, and some to finish my project car. The rest I would split- half towards retirement, and half in the bank. |
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DisneyBride
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Intresting question. I would buy a house for my fiancee and myself, then buy us both a new but afforable car because we both drive old ones that are falling apart. Then, use the rest to pay for our wedding. Anything left would be put into the bank as savings. |
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Fumiaki
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I would invest it in property. ie. Buy a condo, rent it out and generate passive income. If there's any remaining, I'll invest it in trust fund, as risk is relatively low. Whatever you do, just dun let it sit in the bank, interest rates these days are way too low. |
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