Depends on the interest rates. Less than 3.5? Don’t pay it down. Also, no such thing as high-yield savings anymore

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Oct 29, 2020
12:20:48pm

scootsy Bacchanalian

Depends on the interest rates. Less than 3.5? Don’t pay it down. Also, no such thing as high-yield savings anymore

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scootsy

Bio page: scootsy
Joined: Aug 5, 2013
Last login: Apr 24, 2024
Total posts: 30,433 (3,333 FO)

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Messages

Author

Time

say you came into a large chunk of money unexpectedly. What is the best way to

buckeyecougarguy

10/29/20 12:16pm

Probably some total market index fund.

allaboutthegainz

10/29/20 12:17pm

^^^^^^^

Count Cougar

10/29/20 12:26pm

No other debts? I’d buy some commercial rental.

10/29/20 12:18pm

commercial rental? Pretty bleak prospects for the future of that space

Iman23

10/29/20 12:20pm

Blow it all on fun stuff. Do my part to stimulate the economy.

foofcoug

10/29/20 12:18pm

I would probably put 20k into some home improvements, 10-15k on some fun things

cougarfann888

10/29/20 12:19pm

MLM’s...what could go wrong....Seriously, I’d go with vanguard’s VTSAX

pilot17

10/29/20 12:19pm

Tithing, taxes(if necessary), pay off any high interest debt, max Roth IRA,

bulletproof

10/29/20 12:20pm

Depends on the interest rates. Less than 3.5? Don’t pay it down. Also, no such thing as high-yield savings anymore

scootsy

10/29/20 12:20pm

Pre pay my tithing for the next 6 months.

crack

10/29/20 12:21pm

It’s not obvious to pay down debts. Sure, some with higher interest rates, but

Zaphod

10/29/20 12:21pm

Agree with this. Not all debt is terrible.

bruincoug

10/29/20 12:43pm

Bet it all on red!

Agnostic-alumni

10/29/20 12:23pm

build a time machine and go back and invest a ton of money in winners when they were cheap.

TN_Coug

10/29/20 12:24pm

Pssst... I'm still cheap. No need for the time machine.

foofcoug

10/29/20 12:27pm

I'd play the market, several stocks are still a real buy. Money has been

RC Vikings

10/29/20 12:28pm

Either Max Funded Life Insurance for tax free income in retirement or a FIA

airwolf

10/29/20 12:30pm

Set aside enough for a Custom Whole Life Policy with NY Life, etc. Tax free gain

RUNBYU1

10/29/20 12:32pm

Yep, these policies are incredible.

airwolf

10/29/20 3:50pm

how is it different from regular life insurance?

buckeyecougarguy

10/29/20 4:29pm

It is designed to build cash value which can later be used for tax free income,

airwolf

10/29/20 5:24pm

So walk me through this. I pay some monthly premium for years and years and

buckeyecougarguy

10/29/20 7:54pm

Pretty close. I pay $9k once/yr for 7 years. The money builds over time. You can

RUNBYU1

10/29/20 9:30pm

Yep, the great part is they are flexible based on your needs

airwolf

10/29/20 10:40pm

Tithing first. DAF if tons of money. Then my personal breakdown for the rest is

bruincoug

10/29/20 12:32pm

How to invest each of those buckets is a different question. Stick to what you

bruincoug

10/29/20 12:36pm

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