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Unread 07-19-2010, 07:03 AM   #1
JFamily
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$100,000.00..... what do you do?

say you had a winning lottery ticket worth $100k.... what do you do with the money?

pay bills? buy a car? vegas for a weekend of ______ & ______?

??????



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Unread 07-19-2010, 07:05 AM   #2
cherokee33s1991
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buy a house and more stuff for the jeep.
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Unread 07-19-2010, 07:06 AM   #3
Pvt_Joker
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Inb4 4xGore
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Unread 07-19-2010, 07:09 AM   #4
jbrem
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Pay off student loans, donate a bit, invest the rest.
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Unread 07-19-2010, 07:20 AM   #5
BonesWK
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payoff student loan, car loan, wifes car loan. invest most of it. spend a little of it on myself
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Unread 07-19-2010, 08:16 AM   #6
zachbh
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Invest, donate, a little on the Jeep.

A weekend in Vegas, running around the desert looking for strippers and cocaine.
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Unread 07-19-2010, 08:18 AM   #7
MountainMan864
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2011 Shelby Mustang and 2011 Jeep 2DR Wrangler Modded to hell. OR put it all in the bank and get a cheap apartment and save save save and then move to colorado and buy a house.
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Unread 07-19-2010, 08:19 AM   #8
yjJeff
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Pay off any and all debt 1st off. What's left would go to reliable transportation.
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Unread 07-19-2010, 08:30 AM   #9
Jetscuh
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Buy a new daily driver (I'd be keeping the Jeep of course) $10,000.00 or less.
Put a couple thousand into the Jeep.
Use a good chunk of the money to pay for school.
Save the rest in a bank account.
I already have decent chunk saved up for a house so I'd save the rest of the money for emergencies/school.

I would probably spend a week on vacation as well. Probably just head up to Maine for a week. Nothing too expensive/extravagant.
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Unread 07-19-2010, 08:33 AM   #10
rentalguy1
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is this after the $40-50K that you would lose in income taxes?
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Unread 07-19-2010, 08:33 AM   #11
sanchagrins
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Pay off all my debt, and then buy a present or too for myself (jeep part most likely) then invest the rest.
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Unread 07-19-2010, 08:54 AM   #12
JFamily
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Quote:
Originally Posted by rentalguy1 View Post
is this after the $40-50K that you would lose in income taxes?
only if you're the type of person who pays them





10 years ago I would probably have a waaaaay different plan , but after recently being out of work for an extended period my priorities are definitely different.

-30% to an interest bearing account to pay the taxes at the end of the year
-all credit card/line of credit debt gone
-my and the wife's student loans gone
-$1000 for me and the wife to go out for dinner and shopping
-any left over goes to car loans

for me, once I get rid of all of my monthly payments to the credit devil and student loans, I can afford the good things in life like toys and investing.

being older and responsible sucks
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Unread 07-19-2010, 09:16 AM   #13
bigred33
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Here in GA they take the taxes out of it right when you go get it, so it'd be like 60k or so.

Wife's suv and my truck payments would be gone - under 12k total there.
Throw, say, 20k at the mortgage and see about a refinance.
Have a $2000 party.
Max a roth ira for both of us, 9k.
Throw the rest at something, rental property or mutual fund/metals combo, something like that that is an actual investment vs parking it in some checking or savings accounts.

100grand winner though would realistically be gone right quick. Married with a mortgage or something and the wise play is get rid of the car notes and dunk the mortgage and re-fi for cheaper then throw the extra monthly nut in the bank somehow for savings. Maybe park 10% into hard savings - ira - that you can't touch for a while.
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Unread 07-19-2010, 09:26 AM   #14
Hurley91
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Go on Vacation with my family, I don't have any bills so I don't have to worry about that, Ask my Dad what to invest in, Buy a Jeep, pay for school and bank the rest.
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Unread 07-19-2010, 09:32 AM   #15
nj666z
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I think most of it would be eaten up just paying off car loans, ccs, my wife's grad school loans. Anything left over would go to some renovations we want to do on the house. Paying off the debt alone though would change our lives! What's funny is that we never think about winning the mega-millions as being life altering, just winning a silly little scratch off or a decent pick 5.
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