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#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

Quote from: #UnleashGreg on March 09, 2022, 02:19:24 PM
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
Ramsey head thoroughly up his ass.


warriorchick

#3
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.
Have some patience, FFS.

TSmith34, Inc.

Quote from: #UnleashGreg on March 09, 2022, 02:19:24 PM
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.
If you think for one second that I am comparing the USA to China you have bumped your hard.

ZiggysFryBoy


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
Maigh Eo for Sam

Pakuni

NIL deals for 5-star recruits.

Spotcheck Billy


MU82

"It's not how white men fight." - Tucker Carlson

"Guard against the impostures of pretended patriotism." - George Washington

warriorchick

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

If so, make sure that's covered
Have some patience, FFS.

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

Quote from: MU82 on March 09, 2022, 02:56:06 PM
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

Quote from: warriorchick on March 09, 2022, 02:25:02 PM
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

Quote from: We R Final Four on March 09, 2022, 06:00:07 PM
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?

Apolitical Warrior

Quote from: We R Final Four on March 09, 2022, 06:00:07 PM
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

Quote from: We R Final Four on March 09, 2022, 06:00:07 PM
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

Quote from: ZiggysFryBoy on March 09, 2022, 06:53:31 PM
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.
Have some patience, FFS.

Dr. Blackheart

Quote from: warriorchick on March 09, 2022, 07:00:25 PM
Not to mention that I am typing this from an exotic locale because I retired in my fifties.

Starlink?

ZiggysFryBoy

Quote from: warriorchick on March 09, 2022, 07:00:25 PM
Not to mention that I am typing this from an exotic locale because I retired in my fifties.

Thought you were 48. 😉

pbiflyer

Quote from: warriorchick on March 09, 2022, 02:25:02 PM
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.

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