How to spend 20K?

"ManualTransMan" (loremipsum-00998877) 07/10/2014 at 08:58 • Filed to: None

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My horrible mother (easily the most violent, angry and spiteful person I have ever encountered) has passed and because the will could not be found the estate has gone to probate and I will be getting about $20,000.

At present, I'm reasonably well off, no debt beyond the house, have more than enough savings for immediate needs and retirement and I have no significant material needs. Given it's found money, I feel like I could splurge a bit and this is what I've come up with so far.

Tag Heuer Monaco - about 5K

Shifter bracket for my 2012 Boss 302 -$104.99

One piece aluminum driveshaft for my 2012 Boss 302 - About $800.00

So were' up to about 6K, I guess I could use the rest as a long term track day budget. Any ideas?

bob and john > ManualTransMan 07/10/2014 at 09:01

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The watch isnt a bad idea, but I never wear watches. the closest thing to a watch that I have is my 6th gen Ipod nano.

Id stick it in a bank account, wait a year and see what the taxes on it are going to be, and go from there. that 20K may only nd up being 10K then to the guv'

Tom McParland > ManualTransMan 07/10/2014 at 09:02

10

Hoosiers bro...track day bro

Milky > ManualTransMan 07/10/2014 at 09:02

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Made this super easy for you …. I asked the same question yesterday.

http://oppositelock.jalopnik.com/would-you-rath…

ShelbyRacer78-Fusion Modifier > ManualTransMan 07/10/2014 at 09:06

2

Give me some to fix my sable and my father's trans am?

RamblinRover Luxury-Yacht > ManualTransMan 07/10/2014 at 09:10

1

I know what I'd spend $20k on: a Packard, a Hudson, and shelters to put them in while I tear them down. However, I'm not most people.

MAXIMUMVRM > ManualTransMan 07/10/2014 at 09:10

1

get a project car started for that retirement.

themanwithsauce - has as many vehicles as job titles > ManualTransMan 07/10/2014 at 09:11

1

Step 1) Buy 20, 1000$ cars
Step 2) Find an open field
Step 3) You and 19 other people have one hell of a good day.

Crocket Bernet > ManualTransMan 07/10/2014 at 09:11

3

Sig P226 but thats just me.

$800.

bob and john > ManualTransMan 07/10/2014 at 09:12

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in which case...get the stuff for your mustang, i'm 50/50 on the watch, stick the rest in your bank account.

DanimalHouse > ManualTransMan 07/10/2014 at 09:12

5

Forget a Monaco watch... how about a trip to the 2015 Monaco Grand Prix?

Also, sorry to hear your mother was horrible :( An injustice to you.

Stupidru > ManualTransMan 07/10/2014 at 09:13

2

Buy the Tag (I've always believed a man should have a nice watch)

Spend a bit on a racing school (Skip Barber comes to mind but I know there are tons more)

Take a nice vacation

Throw the rest into a 529B plan for the kids (tax free)

Lekker > ManualTransMan 07/10/2014 at 09:14

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Cage the boss, invest the rest. That is what I would do. Or, get a cheap daily, save gas, and more money for the now track toy.

mcseanerson > ManualTransMan 07/10/2014 at 09:15

1

Start a lemons team and rent seat time at races.

Also sorry to hear about your mom.

PatBateman > ManualTransMan 07/10/2014 at 09:18

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Is there a reason why you want a Tag? I have a nice one too, but I like my Omega so much more.

For the rest of he money, I would suggest taking a trip. Pick a pace you've always wanted to go.

Your boy, BJR > ManualTransMan 07/10/2014 at 09:20

3

get a SLAB. It's what I'd do.

Chris_K_F drives an FR-Slow > Crocket Bernet 07/10/2014 at 09:24

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I had to sell mine when I moved to Illinois. I miss it. :(

E92M3 > Tom McParland 07/10/2014 at 09:25

1

^This

MontegoMan562 is a Capri RS Owner > ManualTransMan 07/10/2014 at 09:29

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You can sponsor the resotoration of a 1968 Montego. I'll plaster your name all over it if you want lol.

Seriously? Do you live in an area where you could use a winter vehicle? Maybe a 4x4 for the winter months?

If not...

JET SKIS!

Where have all the lightweights gone? > ManualTransMan 07/10/2014 at 09:34

1

I just tried one of these bad boys on over the weekend at Macy's. It looks great in pics and even better when it sits on your wrist. It's got a good weighty feel without it feeling like an anvil on your wrist

Brian Silvestro > ManualTransMan 07/10/2014 at 09:36

1

That's my dream watch! Get it

MisterPuk > ManualTransMan 07/10/2014 at 09:40

1

Eh, if you're struggling to find something to spend it on, to the point you're asking the internet what to do with it, then I'd just bank it and call it a day.

yamahog > ManualTransMan 07/10/2014 at 09:47

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Mmmm, sweet sweet inheritance money.

I like the ideas stated, then throw in a nice vacation for you and the wife (if my hypothetical spouse brought home a bonus $20k, I'd like to have some fun with it too!) then put the rest in the son's college fund.

Orrrrrrr you can always donate to the Yamahog's Save the XJ Fund, so as I may pay off my remaining loans and get my own Mustang ;) Every dollar counts toward relieving my ailing XJ of daily driver duties and putting her out to pasture as a trail-only rig!

SantaRita > ManualTransMan 07/10/2014 at 09:57

2

http://www.fool.com/investing/gene…

I'd spend 5K and invest the rest.

Textured Soy Protein > ManualTransMan 07/10/2014 at 10:15

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Really the most I would spend on fun stuff is $5k. The rest, even if you just throw it in a decent index ETF is going to earn you a ton of interest over the years. Which will pay for more fun stuff down the road.

RotaryLover > ManualTransMan 07/10/2014 at 10:25

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Road trip time!

TheJWT > ManualTransMan 07/10/2014 at 10:26

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You could always buy me a Tag Heuer Monaco...

PetarVN, GLI Guy, now with stupid power > ManualTransMan 07/10/2014 at 10:33

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get watch and stuff

invest rest in GOOG, APPL

DipodomysDeserti > ManualTransMan 07/10/2014 at 10:36

6

1. $20k +

2.

3. ???

4. Profit

surgesilk > ManualTransMan 07/10/2014 at 10:46

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Take your favorite person in the world to your favorite spot in the world and enjoy.

zeontestpilot > ManualTransMan 07/10/2014 at 12:56

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Hey, can I borrow $10 bucks?

Also, sorry about your mom.

chuck07 > ManualTransMan 07/10/2014 at 14:28

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I would spend about 3k of it on an audio system. I have learned to love the Sonos Systems for their ease of use and sound quality. They might not be as good a pair of MartinLogans, but they are pretty awesome.

Throw a couple grand into a bunch of weekend vacations.

Throw 7k into a miata that can be a mountain carver or a track day God.

Invest the rest.

AM3R > ManualTransMan 07/10/2014 at 14:44

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Forced induction! I'd buy another car with $20k but I'm not sure what you like. E39 M5, E46 M3, both under $20k for a nice one.

ntl0505 > Tom McParland 07/10/2014 at 14:58

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Get some HOOOOSSSSIIIERRSSS bro

Arrivederci > ManualTransMan 07/10/2014 at 15:10

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Vacation.

Dolby109 > ManualTransMan 07/10/2014 at 15:40

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I'd buy a Fiesta ST (oh wait I allready did).

I can't fathom wasting 5k on a watch.

Denver Is Stuck In The 90s > ManualTransMan 07/10/2014 at 15:40

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This is what I would do, But thats just me the watch addict

N51fanatic > ManualTransMan 07/10/2014 at 15:56

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You are well off and don't need the money. Congrats on that first. I love the Monaco as a watch and car enthusiast myself. I did some early research on them when i was interested in purchasing one a few years ago, all i remember from that is don't buy a current model. Vintage is the way to go, better movement.

And i 2nd the Monaco grad prix idea or any F1 event for that matter. Paddock at Austin is like 5k per person. That would be AMAZING.

I know its tough to spend big $$$$ on experiences that are gone with nothing pgysical to hold on to, but my wife got me the Gotham Dream Car Tour for my 30th and I will NEVER forget that.

I vote F1 Paddock Club.

Driftin_thu_life > ManualTransMan 07/10/2014 at 16:20

1

Really not trying to troll so I hope you will consider this...

Dont be stupid. Invest it in a long term mutual fund (I have one that has grown 22% this year or $4400 in your money) or something that can build equity. Save atleast $10k of it and take a trip with the rest overseas. Go to www.gate1travel.com Hike the Inca Trail, see the Great China Wall, Watch a sunset from Fira town in Santorini, but dont be stupid and piss it away on trinkets. It sounds cool now and you will get great responses on a website that wont mean crap to you in 20 years, but you will regret it man. This I promise.

Yourcommentisincrediblydumb > ManualTransMan 07/10/2014 at 16:30

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Wats link, new Coil overs (the good expensive kind), brakes, and the almighty wheels and tires...

Driftin_thu_life > Driftin_thu_life 07/10/2014 at 16:36

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Btw, the fund is ODVYX. Wait til it drops to $36 again and buy. https://www.google.com/?gws_rd=ssl#q=… Good luck and enjoy. Buying things just makes you feel more empty, it is only through experience and doing good for others that your going to get the happiness that you are looking for. I have blown so much money on cars and it was cool, I wont lie, but I was just like "what are you thinking?" later. What do you really value in life? Stop and think about it.

LeonSumbitches > ManualTransMan 07/10/2014 at 16:59

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Donate it to a children's hospital? Make some sick kids happy and get a sweet tax write off. Two birds one stone. Boom.

4play > ManualTransMan 07/10/2014 at 17:26

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Do something you can remember. A trip, an experience, an incredible meal, etc. Stuff is just stuff. Can't take it with you.

Joseph Shaul > ManualTransMan 07/10/2014 at 18:17

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Buy some of the speakers I'm selling or my 1080p projector I have so I can pay off my car?

You'd still have about $5000 left...

Manuél Ferrari > ManualTransMan 07/10/2014 at 22:29

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I would be a really nice espresso machine.

guppysb > ManualTransMan 07/11/2014 at 15:00

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I believe in only spending the money only on things you NEED. Don't spend it on things you could live without and still be happy. If I had an extra 20k right now, I'd be buying a house and putting it up for rent (with a marginal profit). You don't have to pay for the house, let someone else, as a secondary investment to your current house. If that doesn't float your boat, just another investment of some kind. And as much as I love Tag, I'd go for Omega instead. They tend to appreciate very well in a short period of time (1-5 years).

Curt Styler > ManualTransMan 07/11/2014 at 15:25

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Ok, so the first thing I have to say is put it in a retirement fund so it will grow and you can be rich later.

Beyond that, if you want to drop some of it. Car wise I would get a Fiat Abarth with a few miles on it and spend some on tuning. You could pretty easily have a 220 HP monster of a fun car that would save some gas and miles off that Boss.

Trevor Mohr > ManualTransMan 07/11/2014 at 16:45

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This is going to sound hysterical from a 17 year old, but why not put it in the bank and make more money for more car stuff?

Oppenheimer > ManualTransMan 07/12/2014 at 13:59

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pay down debt

JohnPlayerSpecial > chuck07 07/13/2014 at 23:43

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Ooh. I have a pair of MartinLogan Theos in my living room, and even though they are considered to be the entry level the sound reproduction is impeccable.