I\'m a trustafarian
 

So as it turns out I'm coming into about 100k in august. This is obviously not a life changinging ammount of money, it is however about four years salary for me. I'm poor.

In my shoes what would you do with the money. Any specific low risk long or short term investments, etc.

I live in Seattle so I think buying property is out to begin with.

Re: I\'m a trustafarian
 

First and foremost, pay off any outstanding debt.

Then, chunk some in your Roth IRA, and look into money market accounts.

Did you crosspost this in Stock Market forum?

GL

Re: I\'m a trustafarian
 

100k tax free is indeed a life changing amount of money for many people. Yeah you cant go and buy houses and retire, but it certainly should have an effect on how your future plays out.

Re: I\'m a trustafarian
 

why can't you get property? especially if you live on your own already, I'd think that you could put enough of that down to make the mortgage/tax/upkeep payments come close to your current rent. maybe you come out ahead of it.

Re: I\'m a trustafarian
 

[ QUOTE ]
First and foremost, pay off any outstanding debt.

Then, chunk some in your Roth IRA, and look into money market accounts.

Did you crosspost this in Stock Market forum?

GL

[/ QUOTE ]


Thankfully I am debtless. I didn't even know there was a stockmarket forum. Is there some magical way to post in such a way that both topics end up in the same thread?

Re: I\'m a trustafarian
 

imo the stock market forum is a joke

Re: I\'m a trustafarian
 

not that I know of. Just highlight your post and cut n paste it there.

GL man, 100k would alter my life, and it ISN'T 4 times my salary [img]/images/graemlins/grin.gif[/img]

Re: I\'m a trustafarian
 

Long-term, I think it would make sense to first pay off any and all high-interest debt (and probably any other debt you have, but maybe not), and secondly make a down-payment on a house/apartment/whatever, if you don't already own your own place.

Re: I\'m a trustafarian
 

def IRA
that money will look real good when ur older
im only 19 and thinkin about that [censored]. if i invest $1k now, it'll be $64k when i retire. how insane is that. the only problem is that when i do get to use it, ill be old and wrinkled [img]/images/graemlins/crazy.gif[/img]

Re: I\'m a trustafarian
 

[ QUOTE ]
Long-term, I think it would make sense to first pay off any and all high-interest debt (and probably any other debt you have, but maybe not), and secondly make a down-payment on a house/apartment/whatever, if you don't already own your own place.

[/ QUOTE ]

To be honest I'm a little concerned that housing prices in seattle could come down at some point. I'm not sure how realistic that fear is though.

I could basicly afford 200k for a 600ft studio, or a moderate house thirty miles north, neither seem super atractive. However it may still be the best way to go.

My credit is also less than steller. I don't have any debt but I had the usual college credit card problems. I've never defaulted on anything but my payment history must suck. Along with the fact that I've used zero credit in the last three years or so.