Let's say you receive a large sum of money... From where doesn't matter, but

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Jun 21, 2021
7:42:43pm

DeekLyfter Truly Addicted User

Let's say you receive a large sum of money... From where doesn't matter, but

let's say it's a sizeable amount, but not Huge. High 6 figures, approx $800,000...

What do you do?

I'm thinking try to grow it for a few years while I finish school, pretend like it's not there. We have no real debt other than our house, so just live life like normal and then reassess after 5 years of growth?

I'm not getting this money, but someone we know might be and the wife and I were discussing what we would do...

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DeekLyfter

Previous username: UberDeek
New username: PrimeQuantumDeek
Bio page: DeekLyfter
Joined: Feb 27, 2011
Last login: Nov 9, 2021
Total posts: 0 (0 FO)

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Messages

Author

Time

Let's say you receive a large sum of money... From where doesn't matter, but

DeekLyfter

6/21/21 7:42pm

Grow it to 3x and then retire

Nat Gas Man

6/21/21 7:44pm

Like Chia Pet?

TNT

6/21/21 7:44pm

Is 3 times 2.4 million or 6.4 million?

timponyloco

6/21/21 7:56pm

2.4

6/21/21 8:05pm

Can you retire on 2.4 million at the age of 40?

timponyloco

6/21/21 8:27pm

4% would be almost 100k per year

rad dawg

6/21/21 9:14pm

I say no, unless you do not have any kids in your house is already paid for

6/21/21 9:39pm

Easily.

valleus

6/22/21 8:41am

Easy

6/22/21 1:04pm

Put a down payment on a Corvette

6/21/21 7:44pm

To be honest, I probably would. It'd be hard not to

DeekLyfter

6/21/21 7:47pm

Note Deek, all of these CBers are lying. You know they would go for the bling bling

TNT

6/21/21 7:47pm

RE: Let's say you receive a large sum of money... From where doesn't matter, but

the_byu_flash

6/21/21 7:44pm

put it away, let it grow,

ChinaFan

6/21/21 7:45pm

RE: put it away, let it grow,

TNT

6/21/21 7:46pm

To what end? One can't simply say "let it grow". There's need to be goals

DeekLyfter

6/21/21 7:48pm

you asked what to do with the money, not to give you goals. If you want suggestions for someone your age? Well

ChinaFan

6/23/21 12:03am

RE: put it away, let it grow,

6/22/21 6:52am

RE: put it away, let it grow,

Pangare

6/22/21 12:03pm

Retirement account

Y05

6/21/21 7:45pm

RE: Let's say you receive a large sum of money... From where doesn't matter, but

slappy

6/21/21 7:47pm

I wouldn't gamble it. VTSAX, most likely.

ReyOso

6/21/21 7:47pm

Index fund and forget about it for 25 years.

BlackBart

6/21/21 7:48pm

Texas Real estate.

6/21/21 7:48pm

Any reasons why TX real estate? I live in TX and property taxes are high.

federer

6/21/21 10:12pm

It's not Utah or California.

6/21/21 10:51pm

You're young. Id do like 30% VTI, 60% real estate down payments, and 10% metals

Backcountry

6/21/21 7:49pm

Like Metallica or Motley Crue?

TNT

6/21/21 7:50pm

Between the Buried and Me

Backcountry

6/21/21 7:51pm

If it is enough the person may qualify as accredited. I’d sprinkle $50,000 - $100,000 across 8-12 very well vetted angel

Trent

6/21/21 7:50pm

Put in a pool, invest the rest

CBaass

6/21/21 7:50pm

<< Deleted >>

panacablue

6/21/21 7:51pm

70% into Bitcoin, 20% into Eth, 10% into mix of poocoins.

EQD2

6/21/21 7:59pm

$800K is nothing, you need a lot more to see any real change....

777

6/21/21 8:00pm

No. Your boat cost $800k

TNT

6/21/21 8:03pm

Wrong. $800K will measurably change your life

TeeKaa

6/21/21 8:42pm

Buy tomato plants

CougsOrDeath

6/21/21 8:10pm

Just don't eat the tomatoes. You have to replant them.

cruoti

6/21/21 9:25pm

Probably pay off a home, buy a boat and a truck, and invest the rest. Not the

cougaman

6/21/21 8:18pm

500k retirement and taxable accounts. 200k to mortgage. 100k to student loans

cougfanz

6/21/21 8:23pm

I’d hold off on any student loans right now unless private loans. But I’d pay

Powerbait DPM

6/22/21 8:22am

Good point.

cougfanz

6/22/21 8:36am

Drop out of college, buy a business.

Plato

6/21/21 8:27pm

Instead of talking to your wife about it, start talking to HIS wife about what you guys are going to do with it. 😀

RootieBoy

6/21/21 8:32pm

Is $800K pre or post tax?

Eddie

6/21/21 8:35pm

$600k invested in Triple Net Medical facility

UVCoug

6/21/21 8:36pm

Max out 529 plan contributions for each kid

bruincoug

6/21/21 9:01pm

Probably take like 400k and buy a 10 unit apartment

Heath Squashwell

6/21/21 9:03pm

You’re braver than me.

6/21/21 9:04pm

lol

conetah

6/22/21 9:11am

350k towards a down payment for a house.

JuicyJam

6/21/21 9:24pm

$50k held in trust for my kids. They can access it when they turn 60.

weasal

6/21/21 9:26pm

Yup grow it

BYU Grounds

6/21/21 10:57pm

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