What to do with 150k

[#UnleashSean]

Got a settlement from workman's compensation and wi be receiving a tax free 150,000.


So far I've thought of these ideas:

8k into basement currently in middle of finishing
6k into paying off car
10k into an emergency savings account
Possibly looking at building new garage

Other then that I'm not sure what to put this towards. Should I put it all into a fund and let it grow? Should I put a sizeable amount into my mortgage payment?

Original thread: https://www.muscoop.com/index.php?topic=56609.msg1041911#msg1041911

[Uncle Rico]

Got a settlement from workman's compensation and wi be receiving a tax free 150,000.


So far I've thought of these ideas:

8k into basement currently in middle of finishing
6k into paying off car
10k into an emergency savings account
Possibly looking at building new garage

Other then that I'm not sure what to put this towards. Should I put it all into a fund and let it grow? Should I put a sizeable amount into my mortgage payment?

Original thread: https://www.muscoop.com/index.php?topic=56609.msg1041911#msg1041911

Strippers and coke

[JWags85]

[warriorchick]

One thing you should not be doing: taking advice from internet randos.

That being said: set up an emergency fund of 3-6 months worth of living expenses, pay off any high interest debt, maximize your retirement contributions every year.

[TSmith34, Inc.]

Got a settlement from workman's compensation and wi be receiving a tax free 150,000.


So far I've thought of these ideas:

8k into basement currently in middle of finishing
6k into paying off car
10k into an emergency savings account
Possibly looking at building new garage

Other then that I'm not sure what to put this towards. Should I put it all into a fund and let it grow? Should I put a sizeable amount into my mortgage payment?

Original thread: https://www.muscoop.com/index.php?topic=56609.msg1041911#msg1041911

Good allocation so far. Do you any other credit card or high interest debt to pay off?

If you have a reasonably long-time horizon, investing some is always a good idea.

Another thing we do is take excess cash and earmark it for property taxes, income taxes, and the next car and put it into laddered bonds or CDs. You obviously will not make much interest with rates as they are, but you have a nice, safe wad of cash when you need it.

[ZiggysFryBoy]

Strippers and coke

This is the only correct answer.

[CreightonWarrior]

Principal reduction on house, recast to save on interest and possibly get out of mortgage insurance payments.

[Galway Eagle]

Hire yourself a below average bagpiper to play entrance music when you walk into places!

I have a connection who's ready at a moments notice

[Pakuni]

NIL deals for 5-star recruits.

[Spotcheck Billy]

Throw a Scoop party!!

[MU82]

Strippers and coke

I'd only put half there. I'd waste the rest.

[warriorchick]

Does your settlement cover any further medical costs from your injuries?

If so, make sure that's covered

[Babybluejeans]

Not sure where you are, but if you can, buy three ~$200k investment properties and rent them if you can get a 7% or better CAP rate. Then use the cash flow for strippers and coke and you'll never run out of either.

[JWags85]

I'd only put half there. I'd waste the rest.

Superbly played

[jesmu84]

Knowing absolutely zero about your life situation or financial situation...here's something pretty basic:

https://i.imgur.com/u0ocDRI.png

[nyg]

100k into US treasury bill, 10 year.  Fed is going to raise interest this month.  It is safe and conservative. You buy at discount and know what bill is worth after 10 years. 

6K and payoff car
25K to a Money Market Bank/Credit Union account. 

19K left.  Payoff credit card debt  and other financial debts not including car as above. Whatever is left, that’s your fun money and do what you to upgrade house.

Good luck.

[We R Final Four]

One thing you should not be doing: taking advice from internet randos.

That being said: set up an emergency fund of 3-6 months worth of living expenses, pay off any high interest debt, maximize your retirement contributions every year.

Do you know the OP?
If not, are you telling him to ignore your advice………and then proceed to give him your advice??

[Jockey]

Do you know the OP?
If not, are you telling him to ignore your advice………and then proceed to give him your advice??

Ain't that what we do here?

[GB Warrior]

Do you know the OP?
If not, are you telling him to ignore your advice………and then proceed to give him your advice??

I would trust the CPA.

With that expertise established, I'm with Rico

[ZiggysFryBoy]

Do you know the OP?
If not, are you telling him to ignore your advice………and then proceed to give him your advice??

That's pretty basic financial mgnt from Chick.

[warriorchick]

That's pretty basic financial mgnt from Chick.

Not to mention that I am typing this from an exotic locale because I retired in my fifties.

[Dr. Blackheart]

Not to mention that I am typing this from an exotic locale because I retired in my fifties.

Starlink?

[ZiggysFryBoy]

Not to mention that I am typing this from an exotic locale because I retired in my fifties.

Thought you were 48. 😉

[pbiflyer]

One thing you should not be doing: taking advice from internet randos.

That being said: set up an emergency fund of 3-6 months worth of living expenses, pay off any high interest debt, maximize your retirement contributions every year.

Or… or….. hookers and blow.

[🏀]

If you’re going the correct route (prostitution and cocaine), get a bunch of bananas too. You’ll need them.