Serious Question: What would you do with a $50,000 inheritance?
 

A distant relative just left me $50,000. I don't "need" the money in terms of lifestyle or paying off anything. What should I invest it it? Don't say hookers and blow. I'm in the stock market, such as it is, maybe real estate? I might spring for a CARSINC $189 targa top seal. SmileWavy

Charitable donation for a tax break? There are quite a few that benefit military families that do not take a large percentage for administration.

IPO for Pelican Parts? or Facebook?

or Apple stock

I know a guy who needs an investor/silent partner to just about that tune. The business has good potential and im very familiar with it, he just basically needs his current partner gone as the guy is bleeding the business. If you're interested, id be glad to pass along his contact and do anything I can to help.

Not sure where your kids are at in life but maybe use to give them a head start.

Down payment on a house.
Pay on student debt.
Graduate degree.
Etc

You're about my age I think. Pretty secure financially. Spend it. Seriously.

Take that ridiculous vacation. Rent a boat and sail around the world. Whatever.

It's later than we think.

Send it to me. I'll do something with it.

Or

Party at Hugh's house!!

Yeah! Massive party at Hugh's place!

Solar Energy system for the House and go totally off-grid.

Just let us know the date and time... :D

Yea go have fun, you cant take it with you as someone else found out.

When I die my goal is to be zeroed out

+1 FYI My dad passed at 63. One year after retirement.

I'd probably take the missus and the Ulster over to IOM for about a 3 week vacation and do a few parade laps...meet the locals. With the $30K left over I'd make a UGMA transfer amongs the grandkids for their college education.

btdt.

You're thinking of retirement in the near future. This just lets you get there that much sooner. Downpayment for that retirement home. Interest rates aren't going to get much better than they are, now. RE prices may drop still, but not by leaps and bounds.

Time to upgrade the Porsche.

I agree with the sentiment of buying an experience. Travel, party, Porsche, etc. If you are currently financially set, you should enjoy the money. I am sure that was the relatives intention.

While I tend to go with the "hookers n blow" sentiment, I have always wanted to have enough money to start a college scholarship fund. Giving kids a chance for an education always seemed a worthwile philanthropic choice.

Couple of goodies from the NFA registry and the food for 'em? But you are in Cali... Living trust in Nevada, then the NFA goodies... shoot 'em some to enjoy 'em, watch the prices keep going up...

As someone that was recently let go...I have a great idea, can you guess??

Hugh:

Did the distant relative give you any guidance? Is there anything you could do with it that that person would be especially proud of (hopefully not hookers & blow!)?

I guess if it were me, I'd divvy it up. Say $20k for an amazing vacation, & 10k on car stuff, then $10k to help a loved one out and $10k stashed for a rainy day.

Oh, and +1 for the targa top seal, if not a complete rebuild. I hear Dan Petchel does excellent work!

cheers,

Paul.

its funny how we treat money ,
If you had to work, and save that amount you would be really careful how it was used.
But if its a gift it is used more carefree as almost a give away

Invest 30 , give your wife 10 and you keep 10....Tim

$50k.... that would buy more blow than you could fit up your brother's butt!

use it pay your unfairly high taxes

I'd pump 100% (okay maybe 90%) into my business venture and hopefully be able to fire my boss in short order.

Are YOU my Pelican Secret Santa?:D

I like this idea...
 

I like this idea...

I think the money as part of a down payment for the daughter to get a house is good. She will pay less tax on her earnings and real estate is bound to hold its own for awhile before increasing. At least that's been the cycle for 50 years.

What's all this talk about a vacation? Hugh's job IS a vacation.

20 sets of slicks for my cup car!!

No, let's keep Hugh's house clean and tidy.

PARTY IN VEGAS!

:D

Save it for a rainy day. Not often do you get left money. Its a good cash emergency fund. Keep it for retirement , the way things are going you might need it.

OK, what would you do with $500k?

One reason I bought some *really* nice basses this year.

Do what's going to bring you the most joy!

For Maggie, it would be RIBS!


http://forums.pelicanparts.com/uploa...1324609537.jpg

I'd take that loooooong vacation you've been dreaming about for a long time. It would be the kind where you go somewhere and don't have to ask the price. Just bring me that or this, lets ride here and there, and relax, and relax more and more. Come back later to the same life as you had, but much more relaxed.

What would I do with the money?

1) Barrett
2) Inexpensive sports car (my current thoughts are a 914 or Lotus 7 replica)
3) The rest goes into the boy's college fund.

Of course, your situation is much different than mine. :)

We can only do 3 things with money...
Spend, give away and save.

I would do varying levels each. Esp giving away.

finishing the private placement on Saturday, double it in 3 years.:D

I can only seem to do one of those things. :cool: