If you were left a large sum of money.. what would you do?

[TTQ B4U]

Prolly take 10% of it to add to spending budget for 2013 but invest the rest.

[gillbot]

Pay off mortgage, bank the rest. That's the only debt I really have left.

[Ackbar00]

Hookers and Blow

[Got-Boost?]

It is sad that $100-200k isn't a large sum of money anymore...

[Buck531]

True it might not be a lot of money but when you're in debt to like 40k or so.. it is a lot.

[ImUrOBGYN]

Yeah but I'm fat and I like to cook. :lolguy::megusta:

 

Hmm, probably alot of crackheads who thought along the same lines.

 

Can't be addicted to your own product, man! haha

[Wonderboy]

Build a twin turbo c6.

[Bam]

Pay off the house, buy a fun car (read $25k or less) and invest/save the rest. Oh how it's nice to dream.

[Mr. Jones]

Pay off house.

VACATIONS

CAR MODS

 

OH MY

[2highpsi]

I wouldn't pay off my house.

 

I would pay it down to around 70% LTV and do a 15 yr loan at 2.75% that is tax deductible.

 

Then take the money that would have went to pay off the house and buy tax free muni bonds paying ~4%.

 

= Free money

[The_buster]

buy a bodykit....:gabe:

 

 

no in reality 100k:

 

50-75k on down payment for house and use the rest for brand new family car, fix my beater or get a newer beater.

 

200k:

 

buy house on some decent land buy two new cars, go to school and get a drift toy.

[Sam1647545489]

I'd buy cr and then shut it down.

[Got-Boost?]

True it might not be a lot of money but when you're in debt to like 40k or so.. it is a lot.

 

http://www.daveramsey.com/new/baby-steps/

[SRTurbo04]

I'd buy cr and then shut it down.

 

[Dharris89]

I would be the first one in line at Cabelas when it opens in march.

[silverhatch]

I've paid off lots of bills, bought the cars I wanted cash, quit my job and invested some. It's been quite a ride so far.

[Tractor]

If I were left 100-200K I'd probably pay off my house or most of it and refi the rest to a tiny payment to increase my disposable income and security.

 

Otherwise I'd trade with it and not be working a fulltime job if at all for someone else.

[El Karacho1647545492]

I wouldn't pay off my house.

 

I would pay it down to around 70% LTV and do a 15 yr loan at 2.75% that is tax deductible.

 

Then take the money that would have went to pay off the house and buy tax free muni bonds paying ~4%.

 

= Free money

 

This guy gets it

[imstock2]

Use 50k of it and put the rest in a year cd and forget about it

[Tractor]

The question of "paying off the house" also comes down to, are you happy where you are and not likely to move? For me I'd say yes. I got 3400sq ft of home and 5 acres in just the right place that I could live here the rest of my life just fine. The pay off bonus is I don't have to pay a huge price for it monthly until I'm about retirement age and can use that money to enjoy life and trade some more.

[BigOxley]

just increased my principal amount on my mortgage by $200, in honor of this thread. here's to a theoretical 8-9 year mortgage, cheers.