Oppo Ask: What would you do with $100k US?

"VajazzleMcDildertits - read carefully, respond politely" (vajazzlemcdildertits)
12/10/2018 at 17:37 • Filed to: 100k, askoppo, life planning, tiny house, taxfree

Interested in what Oppo would do / what Oppo’s life priorities are. It’s not enough to retire on (at least in the US.) I also don’t have this money, but wondering how I want to plan the rest of my middle age years.

Conditions
1. Tax free
2. Doesn’t have to be car stuff
3. No other strings attached.

Edit: Yall got some smart dreams, Oppo

DISCUSSION (88)

MM54 > VajazzleMcDildertits - read carefully, respond politely
12/10/2018 at 17:41

~30k towards a new car, the other 70 into my mortgage.

Doesn’t go very far, huh?

VajazzleMcDildertits - read carefully, respond politely > MM54
12/10/2018 at 17:42

If you had asked me in 1995, I’d disagree, but it’s almost 2019 so yeah, you’re right.

E90M3 > VajazzleMcDildertits - read carefully, respond politely
12/10/2018 at 17:42

Pay off my 3, invest some, put the rest into a safer retirement account.

Spamfeller Loves Nazi Clicks > VajazzleMcDildertits - read carefully, respond politely
12/10/2018 at 17:43

$25k toward the house funds
$25k toward the Porsche
$50k diversified into savings, CDs, and bonds

AestheticsInMotion > VajazzleMcDildertits - read carefully, respond politely
12/10/2018 at 17:44

Half in savings, split the other half between a fun car, and starting a new business

For Sweden > VajazzleMcDildertits - read carefully, respond politely
12/10/2018 at 17:47

1. Tax free

Wow ok Donald

davesaddiction @ opposite-lock.com > VajazzleMcDildertits - read carefully, respond politely
12/10/2018 at 17:47

A s Mrs. addiction and I have done for some time (we’re 40) , I’d take 10 off the top at set it aside in our “giving fund”. We have a separate savings account where we put aside some money, so when worthwhile causes come up, it’s not a decision of “can we give?” (we’ve already decided to), it’s a question of whether the cause is worthy and how much we should give.

The rest? Probably a down payment on a PTS GT3 manual with Euro delivery. =)

VajazzleMcDildertits - read carefully, respond politely > For Sweden
12/10/2018 at 17:48

This is Oppo COTD for me today, laughed loudly at that.

wafflesnfalafel > VajazzleMcDildertits - read carefully, respond politely
12/10/2018 at 17:49

$50 - beer

$99,950 - mort gage

( Alternate - $100,000 to my wife)

BrianGriffin thinks “reliable” is just a state of mind > VajazzleMcDildertits - read carefully, respond politely
12/10/2018 at 17:49

US stocks are in the toilet right now. Invest it in an index fund and hopefully in five years have enough to pay off my mortgage AND get a Porsche.

Chariotoflove > VajazzleMcDildertits - read carefully, respond politely
12/10/2018 at 17:49

I’m boring. I’d fully fund my kid’s 52 9 for college and high school tuition. Then, I’d...well I might as well stop right there, because there’d be nothing left after that.

But other priorities would be pay off my car and then house as much as possible.

Chariotoflove > For Sweden
12/10/2018 at 17:50

Not Donald. The other one.

Kinja'd!!!

VajazzleMcDildertits - read carefully, respond politely > Chariotoflove
12/10/2018 at 17:51

I hate to complain about inflation and rising costs but I’m finding it hard to accept that with a six figure dollar amount, it amounts to literally one major project/effort and then it’s all gone.

Poor_Sh > VajazzleMcDildertits - read carefully, respond politely
12/10/2018 at 17:51

Pay off my car.

Down payment on a house I can afford the mortgage but not a 20% down-payment.

The rest would go to furnishing the house and outfitting the garage.

Chariotoflove > VajazzleMcDildertits - read carefully, respond politely
12/10/2018 at 17:53

The average cost of tuition and fees at a private university is almost $35K/yr . So yes, it’s gotten out of hand.

XJDano > VajazzleMcDildertits - read carefully, respond politely
12/10/2018 at 17:54

10K for some bills and stuff.

$5k for a nice trailer, 4K maybe to have my Jeep road ready, 30 in a savings, invest maybe 30

The rest for a down payment on a new truck. Maybe even take savings money and pay it off.

That’d allow me to vacation every yeah with my jeep to a different place.

My wife wants to go to Australia & Ireland. I want to explore Colorado and Utah

Sovande > Chariotoflove
12/10/2018 at 17:58

I like this idea and would like to think I'd follow suit. Drop a bunch of it into my kids college fund after I paid off my car.

Decay buys too many beaters > VajazzleMcDildertits - read carefully, respond politely
12/10/2018 at 17:59

About $20k for a shiny new motorbike

Kinja'd!!!

The rest, I don’t know, probably into an index fund. I would use it to pay down my mortgage... but at 3% it’s hardly costing me much.

Mid Engine > VajazzleMcDildertits - read carefully, respond politely
12/10/2018 at 18:01

Just went through this, the stock market is completely fucked and the bonds are even worse. To protect the money I would stash it in an Ally Bank savings acc ount (2%) or buy a CD that pays more. That was fine, then I decided to invest in real estate and bought a second home 40 minutes away. The new place will be come our forev er home once all the construction is done in the next few years.

Tapas > VajazzleMcDildertits - read carefully, respond politely
12/10/2018 at 18:03

Buy 1/10th of a house!

Seriously, real estate sucks in Toronto :/

Slightly related question: would you legally and perma nently change your name to Vajazzle McDildertits for tax free $100k? Lol

Chariotoflove > Sovande
12/10/2018 at 18:05

I mean, it’s hard to really concentrate on saving for retirement until this is out of the way.

Daily Drives a Dragon - One Last Lap > VajazzleMcDildertits - read carefully, respond politely
12/10/2018 at 18:06

School. And maybe a Miata if there’s any left over.

Who am I kidding? Left-over money? Nah.

VajazzleMcDildertits - read carefully, respond politely > Mid Engine
12/10/2018 at 18:06

Since interest rates are going back up savings accounts may start to look sweeter again. I mean, to the tune of 1-2% of course. Nothing life changing, not like a sweet new house.

VajazzleMcDildertits - read carefully, respond politely > Daily Drives a Dragon - One Last Lap
12/10/2018 at 18:06

Who am I kidding? Left-over money? Nah.

This is a recurring theme in many people’s plans.

winterlegacy, here 'till the end > VajazzleMcDildertits - read carefully, respond politely
12/10/2018 at 18:06

Pay all outstanding debts, get a small home near the outskirts of a somewhat quiet city (ideally with a two car garage), and just save anything I haven’t spent for later investment or simply just sitting on it in savings.

Live simply and modestly.

Chuckles > VajazzleMcDildertits - read carefully, respond politely
12/10/2018 at 18:09

1. Payoff debt/student loans for me and my partner.

2. Use the rest to buy a single pizza.

bob and john > VajazzleMcDildertits - read carefully, respond politely
12/10/2018 at 18:10

1: new bikes (20 K) (also, VFR resto in that)
2: new PC (3-4k)
3: pay some debts (1k)
4: but 1/2 of the rest into savings, 1/2 into investment. This will be used to pay off school as I need and probably take a month or 3 at the end of school and do a USA road trip. Just hope on the bike, and fuck off for a bit.

Mid Engine > VajazzleMcDildertits - read carefully, respond politely
12/10/2018 at 18:11

At the very least you’ll protect your money from the ravages of inflation while you wait out the mark et insanity. I paid $273k for a 7 acre property that has a 680 sq ft home on it. Event ually that’ll be gone and I’ll build a new house, and, an enormous shop.

VajazzleMcDildertits - read carefully, respond politely > winterlegacy, here 'till the end
12/10/2018 at 18:12

Wife’s been reading up on tiny homes. I’m not sure if anything would have a garage for that kind of money except for in rural areas. What area would you look for houses in that price?

gmctavish needs more space > VajazzleMcDildertits - read carefully, respond politely
12/10/2018 at 18:12

50k towards a down payment on a property outside of the lower mainland, somewhere I’d be happy retiring that I can rent out to cover the mortgage, ideally with a little profit.

40k into some sort of high interest savings account, or fairly stable investment of some sort. I don’t know about that kind of thing, so I’d have to learn about that.

10k for a long vacation, probably Europe, or a road trip around Canada.

VajazzleMcDildertits - read carefully, respond politely > bob and john
12/10/2018 at 18:13

Just hope on the bike, and fuck off for a bit.

That sounds really nice. Like a big slice of what’s left of the American Dream.

jasmits > VajazzleMcDildertits - read carefully, respond politely
12/10/2018 at 18:14

1. Finish paying off my Tacoma(To my dad, he loaned me some of the money for it. I’m almost done anyway but would be nice to just be done).

2. Put the rest into my house fund(Would need to research the best way to save or invest a sum like that so it grows at least a little with minimal risk).

I want to move back to Portland within the next couple years, probably to stay, and especially in a market like that it’s much more financially sensible to own than rent.

Yeah there’s a long list of cars and overlanding and ski gear I’d love to buy but if I let myself start I’d waste too much of it. Especially without needing to be paying my dad for my truck and slowing house savings my normal income is plenty for hobbies.

Daily Drives a Dragon - One Last Lap > VajazzleMcDildertits - read carefully, respond politely
12/10/2018 at 18:14

Well...I wish it wasn’t true, but that’s how it seems to be at this point in time.

NKato > VajazzleMcDildertits - read carefully, respond politely
12/10/2018 at 18:16

Since I’m already mostly debt free due to not pursuing a bachelor’s, I’d rather get or build a house, set up a trust fund to pay property taxes and utilities. And maybe if there's money left over, do an engine swap on the Queen.

The Dummy Gummy > VajazzleMcDildertits - read carefully, respond politely
12/10/2018 at 18:16

Either buy an investment property or invest it. Depends where my portfolio is at and my exposure levels.

Future Heap Owner > jasmits
12/10/2018 at 18:17

Everyone’s talking about the housing market in Portland cooling down, so in a year or so is probably a great time to buy a house and move back.

CB > VajazzleMcDildertits - read carefully, respond politely
12/10/2018 at 18:20

Pay off debts (car, student loans)

With the remaining $80k, save it as a down payment for a house/for other future things.

winterlegacy, here 'till the end > VajazzleMcDildertits - read carefully, respond politely
12/10/2018 at 18:21

There was actually a house going for about $40,000 near me that was about... I wanna say about 10 00 or 11 00 square feet of floor space? Two bed, single bath, hot water baseboard heating, didn’t come with a garage, needed shingle work done. It was rural, but definitely a cozy little place, IIRC it was built in the 80s.

Future Heap Owner > VajazzleMcDildertits - read carefully, respond politely
12/10/2018 at 18:22

$10k - charitable / social justice giving.

$25k - take a long sabbatical from work and travel to some places I’ve been wanting to see for a long time, like t he Canary Islands, Norway, Patagonia, New Zealand, or South China & Thailand & Vietnam.

Up to $15 k - really nice (for me) used car.

The rest: savings & likely a house down- payment in the next few years.

If you had asked me this a week ago my answer would have been fairly different .

jasmits > Future Heap Owner
12/10/2018 at 18:24

I mean no matter what it does besides plummet buying makes more sense than renting if you’re sure about staying in the area. Mortgages come back, even if only partially. Rent’s gone.

But definitely taking that into account. We’ll see when it actually happens and if I’m comfortable pulling the trigger(especially without this imaginary extra $100k to spend..)

VajazzleMcDildertits - read carefully, respond politely > winterlegacy, here 'till the end
12/10/2018 at 18:24

If they had decent internet I’d probably take a look myself.

BaconSandwich is tasty. > VajazzleMcDildertits - read carefully, respond politely
12/10/2018 at 18:31

Put it towards my mortgage.

Dr. Zoidberg - RIP Oppo > VajazzleMcDildertits - read carefully, respond politely
12/10/2018 at 18:35

1. pay off remaining student loans

2. pay off a fat chunk of principle on the mortgage

3. paint the house

4. put the rest into some investment thingie or add to the IRA

The Dummy Gummy > VajazzleMcDildertits - read carefully, respond politely
12/10/2018 at 18:37

Interest rates will only go up one or two more cycles. The Fed has basically reached neutral . This is all barring a Republican gift to the 1% again.

Your boy, BJR > VajazzleMcDildertits - read carefully, respond politely
12/10/2018 at 18:38

1) try to buy myself into Princeton (it’s my dream school that I’ll prob never go to)

2) if that fails, buy a Citroen SM and a Series III Land Rover and have an extremely interesting driveway.

VajazzleMcDildertits - read carefully, respond politely > Tapas
12/10/2018 at 18:38

My wife would be so pissed but you bet your fucking ass I would in a heartbeat.

VajazzleMcDildertits - read carefully, respond politely > Decay buys too many beaters
12/10/2018 at 18:38

Eh when the market is down, that is typically a smarter time to buy and sit on it.

VajazzleMcDildertits - read carefully, respond politely > Your boy, BJR
12/10/2018 at 18:39

Imagine all the awesome conversations you could have with people where you work in the fact that you went to Princeton at every opportunity :)

VajazzleMcDildertits - read carefully, respond politely > The Dummy Gummy
12/10/2018 at 18:40

True, true

Future next gen S2000 owner > VajazzleMcDildertits - read carefully, respond politely
12/10/2018 at 18:44

Buy a boat, buy the missus a new car. Blow some on a vacation. Save whatever is left.

ranwhenparked > VajazzleMcDildertits - read carefully, respond politely
12/10/2018 at 18:45

I suppose I’d put $20,000 towards paying down the mortgage principal, $20,000 toward some home renovations I’ve wanted to do, keep $10k for “walking around” money, and dump the rest into my retirement accounts.

CompactLuxuryFan > VajazzleMcDildertits - read carefully, respond politely
12/10/2018 at 18:45

I’m young enough that a $100k injection could drastically alter my retirement. This is the main thing that stops me from buying brand new cars. Sorry BMW, no new 3-series wagon or 440 Gran Coupe for me.

VajazzleMcDildertits - read carefully, respond politely > Future next gen S2000 owner
12/10/2018 at 18:48

Brand new next gen S2000?

interstate366, now In The Industry > VajazzleMcDildertits - read carefully, respond politely
12/10/2018 at 18:51

1. Pay off the TL and my credit card debt (about 23k total)

2. Buy JZX90 Cresta

3. Spend the rest on JDM cars that aren't old enough to import to the US yet, hold them in Japan or Canada until they're old enough, then flip for massive profit once they are old enough. Repeat until millionaire.

Dr. Zoidberg - RIP Oppo > MM54
12/10/2018 at 18:57

It takes forever to pocket 100k but mere seconds to spend.

Galileo Humpkins (aka MC Clap Yo Handz) > VajazzleMcDildertits - read carefully, respond politely
12/10/2018 at 18:59

Put it towards buying the two upstairs units and converting our 3 flat building into a single family home renovated/designed by Jeff Lewis.

TheRealBicycleBuck > VajazzleMcDildertits - read carefully, respond politely
12/10/2018 at 19:01

I have two kids in high school. I see most free money as contributing to the college fund. I’m also in the market for an airplane....

Future next gen S2000 owner > VajazzleMcDildertits - read carefully, respond politely
12/10/2018 at 19:10

Maybe. Would have to wait until it comes out.

fintail > VajazzleMcDildertits - read carefully, respond politely
12/10/2018 at 19:11

If I lived in a cheap housing area, I’d probably do something crazy like put an ice rink in my basement and fund some fintail renovations. But I don’t, so I guess I’d just pay down housing and maybe give a little to the old car.

OPPOsaurus WRX > VajazzleMcDildertits - read carefully, respond politely
12/10/2018 at 19:23

That should be good for about 10 months of am Allroad subscription

Tapas > VajazzleMcDildertits - read carefully, respond politely
12/10/2018 at 19:29

*high five*

RPM esq. > Your boy, BJR
12/10/2018 at 19:32

Not to dissuade you (if anything, the opposite—to help you plan for achieving this goal!), but $100k would only buy you about two years of tuition at Princeton once you got in, so you gotta have a contingency plan for that part.

I will accept “loans” as a contingency, as will they.

RPM esq. > VajazzleMcDildertits - read carefully, respond politely
12/10/2018 at 19:35

I’d remodel my house so it had a garage in it. If there’s anything left after that, sure, I’ll save it.

KingT- 60% of the time, it works every time > VajazzleMcDildertits - read carefully, respond politely
12/10/2018 at 19:44

Hmm let’s see

* I owe 7K on my Car and we have a little over $20K on my missus’ car so that will be almost $27 K- ish, plus remaining to pay Credit Card debt.

* Pay $2 0K towards mortgage.

* The remaining $50K in a mix of two zero fee index funds https://www.cnbc.com/quotes/?symbol=FZROX and https://www.cnbc.com/quotes/?symbol=FZILX and a bond index fund https://investor.vanguard.com/mutual-funds/profile/VBMFX

SilentButNotReallyDeadly...killed by G/O Media > VajazzleMcDildertits - read carefully, respond politely
12/10/2018 at 20:10

I actually have no idea.

We’ve been living rural since the turn of the century and with well paying government jobs. So we own our place outright and have the coin on hand for renovation work and a new 6 bay shed.

I could certainly blow it on a new fleet given what we have are both nearly 18 years old...but we don't need or really want to replace them.

Captain of the Enterprise > VajazzleMcDildertits - read carefully, respond politely
12/10/2018 at 20:45

Stop working so I can focus on just college, move out, pay off the student loans I have and try to pay for my masters in social work. Hopefully that covers it. If there’s any extra pay off the $4500 I owe on my 2011 Camry and go eat a good meal to celebrate.

Wagon Guy drives a Boostang > VajazzleMcDildertits - read carefully, respond politely
12/10/2018 at 22:34

1. Pay off c redit cards.
2. Buy in my military service to my retirement plan.
3. Cash down on a house and stop paying rent on a duplex.

FTTOHG Has Moved to https://opposite-lock.com > VajazzleMcDildertits - read carefully, respond politely
12/10/2018 at 22:48

This is a fun exercise until it’s real. I actually have $100k sitting in the bank right now and I have no idea what the hell to do with it.

Kinja'd!!!

It’s been there for a few months now and I’m well aware the worst place for it is just hanging around. I’m 34 and I don’t want to blow this money but I also have no idea how to invest. I’m probably going to put half into my mortgage and split the other half between stocks and a savings account for emergencies. I really want use $10-20k on something fun like a used E46 M3 but I probably won’t pull the trigger.

dtg11 - is probably on an adventure with Clifford > VajazzleMcDildertits - read carefully, respond politely
12/10/2018 at 23:09

Pay off college

Save the remaining $5

dtg11 - is probably on an adventure with Clifford > Chariotoflove
12/10/2018 at 23:11

Can confirm, currently going to a $42k/yr private school and transferring to a “cheap” $30k/yr school (both with generous scholarships, thankfully)

Chariotoflove > dtg11 - is probably on an adventure with Clifford
12/10/2018 at 23:20

I don’t know where higher education would be without scholarships and student loans.

My bird IS the word > VajazzleMcDildertits - read carefully, respond politely
12/10/2018 at 23:22

Pay off 80k studen t debt, cry. Both in joy as well as sadness.

20k house downpayment? Maybe blow it on car stuff?

Svart Smart, traded in his Smart > VajazzleMcDildertits - read carefully, respond politely
12/10/2018 at 23:37

Down payment on a condominium in Seattle?

VajazzleMcDildertits - read carefully, respond politely > FTTOHG Has Moved to https://opposite-lock.com
12/11/2018 at 01:13

Props for having the money and being cautious with it.

Hamtractor > VajazzleMcDildertits - read carefully, respond politely
12/11/2018 at 08:44

1) Pay off debt (wife’s student loans, miscellaneous) - $45 K

2) Remodel kitchen and baths, back yard, exterior refresh - $25 K

3) Build two 1991 K5 Blazers (one for me, one for the Son and Heir) - $25K

4) The honeymoon we never took - $5K

That seems about right.

davesaddiction @ opposite-lock.com > VajazzleMcDildertits - read carefully, respond politely
12/11/2018 at 09:02

Tiny home, massive shop.

davesaddiction @ opposite-lock.com > Future Heap Owner
12/11/2018 at 09:05

This is a good answer. Sorry to hear about the recent shitty ness...

davesaddiction @ opposite-lock.com > SilentButNotReallyDeadly...killed by G/O Media
12/11/2018 at 09:06

We’ve been doing the rural thing for a year and a half. Love it...

davesaddiction @ opposite-lock.com > CompactLuxuryFan
12/11/2018 at 09:08

Smart man.

Duck Duck Grey Duck FTMFW! > VajazzleMcDildertits - read carefully, respond politely
12/11/2018 at 13:01

Boring shit like pays off my wife's student loans. Pay off wedding loans. Yeah, get rid of as much debt as I can.

Your boy, BJR > RPM esq.
12/11/2018 at 21:53

Well I already did 2 years at a community college, so it works for me!

VajazzleMcDildertits - read carefully, respond politely > FTTOHG Has Moved to https://opposite-lock.com
12/13/2018 at 21:28

Follow up thought - Chase (my bank currently) is doing an offer for a new Sapphire account - if I keep 75k in it for 3 months, they’ll pay out 60k in bonus points just for keeping the money around.

Outside of investing, this might be worth taking a look at. I wonder if B of A has a similar thing going on.

FTTOHG Has Moved to https://opposite-lock.com > VajazzleMcDildertits - read carefully, respond politely
12/13/2018 at 23:27

I think most banks are offering something similar. BofA has a card where the cash back goes up the more you have in your account. So if I keep over $50k in there it gets pretty awesome - 4.5% on gas 3 on groceries and 1.5 on everything else. It’s actually based on a combined balance too - so I could move some over to Merrill Lynch and as long as it didn’t crash too bad I’d be able to keep those rates on the card. It looks like it counts savings accounts too and even gives you a rate boost so it might even be worth moving the money from checking to savings and opening that card until I figure things out long term.

On the scary side it also offers lower auto loan rates tempting me to zero down finance a new car. My wife wants a Gladiator when they come out and I’m very much OK with that. I’dm hoping to hold out for the diesel but I’m guessing those are going to be $50k and I’m not sure I want to spend that even with bonus interest rates for having cash in the account.

VajazzleMcDildertits - read carefully, respond politely > FTTOHG Has Moved to https://opposite-lock.com
12/14/2018 at 01:19

Normally a 0% loan on a new car would allow you the opportunity to invest and make a better return on what would normally go directly to the car.

We’re looking at new cars as well but we have a ways to go. No matter how tempting the deal is, I find that what we’d get improved on new models isn’t worth the price delta, not yet anyway. Few more years.

FTTOHG Has Moved to https://opposite-lock.com > VajazzleMcDildertits - read carefully, respond politely
12/14/2018 at 09:15

My cars are a ‘13 and ‘14 which is right before a lot of tech that I’d like really started to become standard. Things like adaptive cruise and backup cameras were expensive options that we skipped and are now standard or cheap upgrades. So I’m starting to get that itch. Also convertible pickup truck.

VajazzleMcDildertits - read carefully, respond politely > FTTOHG Has Moved to https://opposite-lock.com
12/14/2018 at 10:38

‘10 and ‘12 here, and I know exactly what you mean.

davesaddiction @ opposite-lock.com > FTTOHG Has Moved to https://opposite-lock.com
10/10/2019 at 10:30

At the very, very least, put it somewhere where it’s earning you 2% per year.

davesaddiction @ opposite-lock.com > FTTOHG Has Moved to https://opposite-lock.com
10/10/2019 at 10:34

Real talk: don’t even think about spending $40k+ on a new car/truck unless your retirement savings are STOUT (like putting away 15-20%, including match, each year).