Author Topic: What would you do if you had 100K?  (Read 4585 times)

fizzgig

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What would you do if you had 100K?
« on: July 30, 2014, 05:46:24 PM »
Real estate and taxes are too expensive where I live in NJ. I've never had any investments. I've started reading about investing, but it's all new to me and will take a very long time before I understand it enough to be confidant about making investment choices. In a savings account, I'm losing money everyday. I'm not rich at all, I gross 50K a year, but I'm a pretty good saver, saving at least half of my take home pay. Seems like investing is kind of the only option but it's like learning a new language, I'm nowhere near that stage.
« Last Edit: July 30, 2014, 06:08:17 PM by fizzgig »

Beric01

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Re: What would you do if you had 100K?
« Reply #1 on: July 30, 2014, 06:22:33 PM »
I would just read the Bogleheads wiki a bit. That's all I did to go from nothing to proper investing. Open a Vanguard account. Open a Roth IRA at Vanguard for $5500 and max it out, and put the rest of your money in a taxable Vanguard account. You can use a simple 3-fund portfolio to start (I use a 4-fund which is similar). It's really quite easy.

Wesmon

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Re: What would you do if you had 100K?
« Reply #2 on: July 30, 2014, 07:36:11 PM »
Open a franchise. There are some very good ones out there. Between your 100k and an SBA loan you can be off to a great start.

chasesfish

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What would you do if you had 100K?
« Reply #3 on: July 30, 2014, 08:06:28 PM »
Don't be intimidated by investing, embrace it and learn it
« Last Edit: July 30, 2014, 08:09:11 PM by chasesfish »

Wesmon

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Re: What would you do if you had 100K?
« Reply #4 on: July 30, 2014, 08:19:15 PM »
Do a simple vanguard timeline fund (eg year 2030). Set it and forget it.

dragoncar

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Re: What would you do if you had 100K?
« Reply #5 on: July 30, 2014, 09:50:22 PM »
I'd buy you a monkey.  Haven't you always wanted a monkey?!

schimt

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Re: What would you do if you had 100K?
« Reply #6 on: July 31, 2014, 05:27:41 AM »
Also in Jersey for now.... born and raised, unfortunate but plan to change that at some point.

I would also advise reading JL Collins Stock Series in the link below. MMM actually recommends his stuff as well.

http://jlcollinsnh.com/stock-series/

Primm

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Re: What would you do if you had 100K?
« Reply #7 on: July 31, 2014, 05:36:44 AM »
I'd buy you a monkey.  Haven't you always wanted a monkey?!

As long as it's not a green dress...

God or Mammon?

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Re: What would you do if you had 100K?
« Reply #8 on: July 31, 2014, 06:29:45 AM »
wonder where all my other money went!

to me, now seems like a horrible time to invest a large lump sum all at once - better to pay down debt or reduce future liabilities if possible

morjax

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Re: What would you do if you had 100K?
« Reply #9 on: July 31, 2014, 07:12:46 AM »
I'd buy you a monkey.  Haven't you always wanted a monkey?!

As long as it's not a green dress...

But not a real green dress: That's cruel!

t-rymz

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Re: What would you do if you had 100K?
« Reply #10 on: July 31, 2014, 08:22:19 PM »
I would go to med school :)

Beric01

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Re: What would you do if you had 100K?
« Reply #11 on: August 01, 2014, 11:31:18 AM »
wonder where all my other money went!

to me, now seems like a horrible time to invest a large lump sum all at once - better to pay down debt or reduce future liabilities if possible

You can't time the market. The point is, it's better to have money invested than otherwise.

If you have high-interest debt, sure, pay it off. Otherwise, just invest.

Iron Mike Sharpe

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Re: What would you do if you had 100K?
« Reply #12 on: August 01, 2014, 12:19:43 PM »
Two chicks.  Oh wait, that is for if I have a million dollars.