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#1 |
Scooby Specialist
Member#: 19094
Join Date: May 2002
Chapter/Region:
South East
Location: Knoxville,Tn
Vehicle:2004 Forester XT Red |
![]() I may have this chance. My g-dad is selling his house in a few months and its paid off. He lives with my mom. The house is selling for 130,000, its a 4 br. 1.5 bt. with a large fenced in yard. I know that it will sell for very close to that if not more. He is giving my uncle 10,000 to put on a house. There is just me, mom and bro left.
I really dont have a clue what I would get. I know that my 2000 RS is getting paid off and probably alot of money thrown its way. Matthew
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#2 |
Scooby Guru
Member#: 7492
Join Date: Jun 2001
Chapter/Region:
South East
Location: Hotlanta, GA
Vehicle:No race cars www.tomhoppe.com |
![]() One piece of advice. Don't blow it on the car. Pay it off maybe, but don't go crazy. Also invest it. Throw a lot of it in a BIG stock. One that will go long term.
-Tom |
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#3 |
Scooby Guru
Member#: 486
Join Date: Nov 1999
Chapter/Region:
MAIC
Location: Alexandria, VA
Vehicle:2014 BMW 328i xDrive F31 Sport Wagon |
![]() Or, invest it in a high-yield government or municipal bond. I have a TVA bond maturing this coming January at close to 15 times its purchase price.
Variable annuities and high yield mutual funds are also excellent options depending on what you want to do with the money over time. My advice is to seek the counsel of an experienced financial planner and think very hard about their recommendations. |
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#4 |
Vendor
Member#: 23050
Join Date: Aug 2002
Location: www.sogperformance.com
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![]() Porter is right, a financial planner is the best way to go. Invest the money, you will be happy later in life that you did.
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#5 | |
Scooby Specialist
Member#: 10173
Join Date: Sep 2001
Chapter/Region:
South East
Location: Oakland Park
Vehicle:2005 WRX STi Silver |
![]() Quote:
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#6 |
Scooby Guru
Member#: 486
Join Date: Nov 1999
Chapter/Region:
MAIC
Location: Alexandria, VA
Vehicle:2014 BMW 328i xDrive F31 Sport Wagon |
![]() Ya, and don't go to a bank for investment advice! Go to a real financial services company, like Merril Lynch or Signator (John Hancock) or Edward Jones or somebody. Banks like to say they're more "neutral" or something but most of the time they just want to get their hands on more of what's in your bank accounts, which they can already see...
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#7 |
Scooby Specialist
Member#: 36474
Join Date: May 2003
Location: moving back to SC
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![]() darn grown-ups....
you have to promise to do at least one really stupid thing with the money. i agree that investing is really wise and you'll be very very happy that you did, but buy a new bike or a lot of candy or a weird pet or something. nothing more than a few hundred, but something you'd never buy otherwise or that will make you happy. or better yet, take a trip! if you're young enough for youth hostels, you could make it in europe or australia for a month on just a tiny amount! |
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#8 |
Scooby Specialist
Member#: 3787
Join Date: Jan 2001
Chapter/Region:
South East
Location: G-ville
Vehicle:2008 Gay Car |
![]() Buy something expensive but not ultra expensive...just enough to get it out of your system. No more than $1K. Invest the rest or put it away for the future.
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#9 |
Scooby Specialist
Member#: 25161
Join Date: Sep 2002
Chapter/Region:
South East
Location: OMG do you really need to know
Vehicle:2009 Jeep Rubicon Silver |
![]() I'm with bailey take a european trip a great chac builder and a once in a life time opportunity. and go with a friend too.
but with the rest invest man.... |
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#10 |
Scooby Specialist
Member#: 19313
Join Date: May 2002
Chapter/Region:
South East
Location: Asheville, NC
Vehicle:2007 Scion tC Black Sand Pearl |
![]() I would pay off my car, then invest the rest of it somehow.
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#11 |
Scooby Specialist
Member#: 19094
Join Date: May 2002
Chapter/Region:
South East
Location: Knoxville,Tn
Vehicle:2004 Forester XT Red |
![]() Some very good ideas, keep them coming
The car would be paid off for sure. Matthew |
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#12 |
Floresbian
Moderator Member#: 470
Join Date: Oct 1999
Chapter/Region:
South East
Location: Riverview, Florida - U.S.A.
Vehicle:2000 Legacy B4 RSK 2020 Canyon Denali Diesel |
![]() I would donate it to the mods who do such a wonderful job here!
![]() ![]() OK, really I would pay off bills.... |
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#13 |
Scooby Newbie
Member#: 19868
Join Date: Jun 2002
Location: DeLand, FL.
Vehicle:2002 WRX Silver Wagon |
![]() Diamond earrings for the wife.
![]() ![]() Invest is the best thing for the money. |
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#14 |
Scooby Specialist
Member#: 24569
Join Date: Sep 2002
Chapter/Region:
South East
Location: East Tennessee
Vehicle:2004 Mazda RX8 Titanium |
![]() You could give me $5,000 for that swaybar
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#15 |
Scooby Specialist
Member#: 19094
Join Date: May 2002
Chapter/Region:
South East
Location: Knoxville,Tn
Vehicle:2004 Forester XT Red |
![]() thrdeye: I will give you 5,000 for the sway bar but you will have to give me 4,980 back.
WRXowner: Im not married, you just have to show her whos boss everyonce in a while and she minds like a little puppy.. ![]() I have decided to give some to the church, pay my car off for sure. Spend alittle on car: tint windows, get rid of the rock chips etc. The european vacation sounds really good and it is once in a life time thing. I may put some away for my other baby( not car but g/f ) for future plans. Porter: Good advice. The TVA bond sounds really good. I will have to find out some info. Its going to be awhile b4 i see this money if I even see it at all, but thanks guy for the advice |
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#16 |
Scooby Specialist
Member#: 11178
Join Date: Oct 2001
Chapter/Region:
South East
Location: Raleigh
Vehicle:2017 Volt I can haz mod? |
![]() you guys suck...
GET AN STI!!!! heh, j/k. being debt free is nice. think about a house/condo downpayment also. interest rates at all time low. ![]() |
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