Windfall! What do you do with the cash?

Discussion in 'Bad Dog Cafe' started by tele salivas, Apr 11, 2015.

  1. tele salivas

    tele salivas Poster Extraordinaire

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    You have just received somewhere in the neighborhood of $250,000 (after taxes). Let's also say your house and car are paid for, and you have no debt.

    After buying that vintage guitar and amplifier, what do you do with the rest?

    Do you buy a house in the country, maybe some rental property, or do you put together an investment portfolio, perhaps start a small business?
    Maybe you say, "To hell with it, I'm gonna live a little!" and take a trip around the world with the little lady.

    The world is your oyster, or maybe a half clam. Still, you got a quarter mil to play with!
     
  2. BartS

    BartS Friend of Leo's

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    Well if there was a tool I wanted or needed I would buy it. Besides that I would eat three square meals a day. Some times round ones too.:D
     
  3. GeorgiaHonk

    GeorgiaHonk Tele-Holic

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    I love little thought experiments like this; it's the closest I'll ever get spending that kind of coin. Me, I'd take the wife on a vacation to the UK and then invest the remainder in a world stock market index fund. Boring, I know.
     
  4. GuitarGeorge

    GuitarGeorge Tele-Meister

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    Save it for retirement.
     
  5. william tele

    william tele Doctor of Teleocity Ad Free Member

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    The scenario needs a little info. Do I have any life savings or retirement investment portfolio? If so, and is funded well into the comfort zone I go ahead use that money to buy things I never would have otherwise.

    If not, then I plod away happily knowing the 250,000 I just invested is, depending on my age, a bare minimum start at a decent retirement account.
     
  6. OlRedNeckHippy

    OlRedNeckHippy Friend of Leo's

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    I'd buy a motor home and head off to some NASCAR races!
    Then, sell my house, buy a bigger one, with a large garage/work shop. That would be nice.
     
  7. Jupiter

    Jupiter Telefied Silver Supporter

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    I'd build a little shed beside the house and get a bandsaw and a couple other tools, and I'd blow the rest on sending my kids to college.
     
  8. ItchyFingers

    ItchyFingers Tele-Afflicted

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    $250,000 is barely enough to buy the New roof, additional insulation, repair leaky basement, buy..New Camaro, New Corvette, New 2 Harley's, New pickup truck, New chevy volt, New electric motorbike and build the garage to put them in but I'd attempt that until it was gone. It's a good thing that was assuming the house was paid for and all debts paid before the win since the $250,000 wouldn't cover it. Dream bigger. A million isn't worth what it once was.
    The first million I win will be gone in a heartbeat. The second would probably do me for a while.
    There is no limit to how much one can spend on a boat, plane, island, country, planet, galaxy, universe. It's too hard to come by and too easily spent in my world.
    Ahhh but dreams are a wonderful thing.
     
  9. xtrajerry

    xtrajerry Doctor of Teleocity

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    Invest most of it and plan a couple trips. Once you start spending 250k can go pretty quick. What I wouldn't do us put it away and withdraw from it like a piggy bank and spend it like mad money. Ten years from know I'd want to look back and see where it went.
     
  10. Telarkaster

    Telarkaster Friend of Leo's

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    Hookers and cocaine, then waste the rest.
     
  11. Chicago Slim

    Chicago Slim Tele-Afflicted

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    I would build an investment portfolio, including some gold.

    I invested 20% of my income, and was able to retire at age 48. Since then, I have worked as a musician, Front-man, Band Leader, Lead guitarist, co-writer, Guitar Teacher and Church Music Director. None of them paid well, but it's been fun.
     
  12. KokoTele

    KokoTele Doctor of Teleocity Vendor Member

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    One of these and enough gas to fly it all over the country one summer with my son.

    [​IMG]
     
  13. BigDaddyLH

    BigDaddyLH Tele Axpert Ad Free Member

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    A quarter million doesn't buy a house anywhere I know. I'm more of a "condo in the city" type, so I suppose I would use the money on a down payment.
     
  14. goldtopper

    goldtopper Friend of Leo's

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    Pay down my mortgage and buy land.
     
  15. Brad Pittiful

    Brad Pittiful Doctor of Teleocity Ad Free Member

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    sell the house im in and hope to add another 100k to the 250k then buy a one level home so my mom wouldnt have to climb steps...as they are dangerous for her and she has bad knees and also getting weaker with age...hopefully not spend the whole 350k so in case things need to be done to the house id have some extra money for it
     
  16. Brad Pittiful

    Brad Pittiful Doctor of Teleocity Ad Free Member

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    i watch a lot of hgtv and diy and fyi programs that deal with homes buying and selling

    a couple of shows are in the toronto area and the prices are real high there same with vancouver

    then one show is in texas and you can get more house there for 200k than you could in canada
     
  17. tele salivas

    tele salivas Poster Extraordinaire

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    Your house and car are paid for, other than that, it's up to you if you have or want to include current savings, investment, 401k etc.
     
  18. BigDaddyLH

    BigDaddyLH Tele Axpert Ad Free Member

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    Those shows kill me. In Vancouver the average detached house is well over a million.
     
  19. wlewisiii

    wlewisiii Tele-Holic

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    First, 50% to charity. Then a small house, maybe even just a simple trailer. Pay off all of my bills finally.

    Then, if there's enough left, this:

    [​IMG]

    Triumph Thruxton

    this:

    [​IMG]

    CZ Ringneck SxS 16 gauge for chasing pheasants and mallards.

    and this:

    [​IMG]

    Not vintage, reissue so I don't have to worry about maintenance issues.

    [​IMG]

    lastly, the last best (failed) hope for the non x86 personal computer, an SGI Tezro. 4x MIPS R16000@1ghz w/16mb L2 cache each & 8 gb ram. Sigh...
     
  20. Brad Pittiful

    Brad Pittiful Doctor of Teleocity Ad Free Member

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    yeah they are fake...love it or list it in in toronto and love it or list it too is in vancouver...i read that the producer at the end decides if they choose to stay in the house or list it...but in reality they stay and never move...if they do move after the reno its on them not with the show

    some houses are small twins in the city worth over a million...crazy prices in toronto
     
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