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Learning, Sharing, and Teaching => Ask a Mustachian => Topic started by: fizzgig on July 30, 2014, 05:46:24 PM

Title: What would you do if you had 100K?
Post by: fizzgig 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.

Title: Re: What would you do if you had 100K?
Post by: Beric01 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 (http://www.bogleheads.org/wiki/Three-fund_portfolio) to start (I use a 4-fund which is similar). It's really quite easy.

Title: Re: What would you do if you had 100K?
Post by: Wesmon 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.

Title: What would you do if you had 100K?
Post by: chasesfish on July 30, 2014, 08:06:28 PM

Don't be intimidated by investing, embrace it and learn it

Title: Re: What would you do if you had 100K?
Post by: Wesmon on July 30, 2014, 08:19:15 PM

Do a simple vanguard timeline fund (eg year 2030). Set it and forget it.

Title: Re: What would you do if you had 100K?
Post by: dragoncar on July 30, 2014, 09:50:22 PM

I'd buy you a monkey.  Haven't you always wanted a monkey?!

Title: Re: What would you do if you had 100K?
Post by: schimt 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/ (http://jlcollinsnh.com/stock-series/)

Title: Re: What would you do if you had 100K?
Post by: Primm on July 31, 2014, 05:36:44 AM

Quote from: dragoncar on July 30, 2014, 09:50:22 PM

I'd buy you a monkey.  Haven't you always wanted a monkey?!

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

Title: Re: What would you do if you had 100K?
Post by: God or Mammon? 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

Title: Re: What would you do if you had 100K?
Post by: morjax on July 31, 2014, 07:12:46 AM

Quote from: Primm on July 31, 2014, 05:36:44 AM

Quote from: dragoncar on July 30, 2014, 09:50:22 PM

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!

Title: Re: What would you do if you had 100K?
Post by: t-rymz on July 31, 2014, 08:22:19 PM

I would go to med school :)

Title: Re: What would you do if you had 100K?
Post by: Beric01 on August 01, 2014, 11:31:18 AM

Quote from: God or Mammon? 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

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.

Title: Re: What would you do if you had 100K?
Post by: Iron Mike Sharpe on August 01, 2014, 12:19:43 PM

Two chicks.  Oh wait, that is for if I have a million dollars.