I'm a trustafarian

edfurlong · #1 03-15-2005, 07:08 PM

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.

Shajen · #2 03-15-2005, 07:13 PM

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

edfurlong · #3 03-15-2005, 07:18 PM

[ 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?

Shajen · #4 03-15-2005, 07:21 PM

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]

J.R. · #5 03-15-2005, 07:21 PM

imo the stock market forum is a joke

edtost · #6 03-15-2005, 07:49 PM

the stock market forum is home to perhaps the stupidest group of 2+2 posters imaginable.

Shajen · #7 03-15-2005, 07:52 PM

[ QUOTE ]
the stock market forum is home to perhaps the stupidest group of 2+2 posters imaginable.

[/ QUOTE ]

This is true. However, he *could* get some decent advice there.

pshreck · #8 03-15-2005, 07:14 PM

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.

M2d · #9 03-15-2005, 07:17 PM

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.

bdk3clash · #10 03-15-2005, 07:25 PM

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.