Money questions

[kdm31091]

Me and my mom were talking about money today just for fun, none of it real. But it raised a fun question. If you had a fund worth $500k, what would you do? Spend it all? Invest it all? What kinds of profits would you expect from the investments each year? Would you downgrade to an easier, low paying job or keep your better, high paying one? Would it be enough to make you feel "rich"?

It's a fun thing to talk about so let's get some opinions. Me personally I would invest and hope for the best!

 

[Pop Daddy]

vagas babeeeeeee

 

[Braillebee]

I would donate some of the money to the Humane Society. I would also get a professional trainer for my dog who pees in the house. I would invest a lot of the money and continue my regular job. As well, I would go to college
full time in the summer in an area that interests me.

 

[C.Ann]

Like a wind fall or something? If so, at my age, I would help out my kids and a couple of other family members with some financial issues, send some to St. Jude Children's Hospital, and invest the rest..

I wouldn't change my lifestyle.. I'm not a materialistic person - don't need or want a bunch of stuff.. "Maybe" I would spring for that well at my place at the lake (which if I live long enough I'll have to do eventually anyhow - LOL), but other than that, I'm good..

 

[M 'n C]

Invest all but maybe a few grand (like maybe $10k) to go on some nice vacations and buy a few new outfits at the mall. I doubt I'd quit my job but I might take a less stressful one if I could invest the money in the right funds/stocks.

 

[LadyZolt]

It depends on how old you are. If you're retired, 70's and older, 500K is probably good enough (assuming you are also getting Social Security and maybe a pension). If you're younger, it's not really all that much money. I think a reasonable rate of return is five percent, conservatively, in the stock market. I would also buy some tax-free bonds (taxed by the federal government, but not the state -- like your local bond issues that do road improvements). I would try not to spend the principle and instead spend the income it generates. 5% of 500K would be $25,000 a year -- and if you have good years that earn more than that, you can either spend that extra money or roll it into the principle to increase future earnings.

So, if one is younger, the smartest move would be to invest all of it and roll all the earned income back into the principle so that it grew by at least 25K per year. By the time you retire, it will then be a very tidy nest egg.

-Dorothy (LadyZolt)

 

[mickeyfan2]

I would invest it for retirement and continue on with my life.

 

[kdm31091]

That's what I'd do too - invest it and hope it works out. Anyways, I know, kind of a pointless thread since it's hypothetical, but fun nonetheless!

 

[korbbec]

I would invest it for retirement and continue on with my life.

 

[KelNottAt]

Our retirement savings are doing pretty well. So I wouldn't *NEED* to save it for that purpose.

I guess we'd use it to ensure neither we nor the kids have to borrow money for their college expenses. Then, assuming there's some left over, some would be invested and some would go toward frivolous fun.

 

[Charade]

WDW babeeeee!!!!