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Detached Member
Join Date: May 2003
Location: southern California
Posts: 26,964
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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.
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Hugh |
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12-22-2011, 02:58 PM
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Charitable donation for a tax break? There are quite a few that benefit military families that do not take a large percentage for administration.
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A nose heavy airplane flies poorly, a tail heavy plane flies once. |
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12-22-2011, 03:04 PM
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Former Drama Queen...
Join Date: Oct 2002
Location: San Pedro, CA
Posts: 1,722
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IPO for Pelican Parts? or Facebook?
or Apple stock
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~ Kim (KDOLL2) It is better to cry in a Porsche then in my Vue... |
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12-22-2011, 03:08 PM
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drunk and stupid
Join Date: Jan 2009
Posts: 8,619
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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.
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12-22-2011, 03:10 PM
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Wayah Road Warrior
Join Date: Jun 2002
Location: Greenville, SC
Posts: 1,536
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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
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02 996tt White 87 930 GP White (Sold) 87 911 Targa Guards Red(Sold) Last edited by Shadetree930; 12-22-2011 at 03:14 PM.. |
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12-22-2011, 03:11 PM
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Registered
Join Date: Jan 2002
Location: I'm out there.
Posts: 13,084
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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.
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My work here is nearly finished.
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12-22-2011, 03:12 PM
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Back in the saddle again
Join Date: Oct 2001
Location: Central TX west of Houston
Posts: 56,218
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Send it to me. I'll do something with it.
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Steve '08 Boxster RS60 Spyder #0099/1960 - never named a car before, but this is Charlotte. '88 targa  SOLD 2004 - gone but not forgotten
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12-22-2011, 03:15 PM
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Back in the saddle again
Join Date: Oct 2001
Location: Central TX west of Houston
Posts: 56,218
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Or
Party at Hugh's house!!
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Steve '08 Boxster RS60 Spyder #0099/1960 - never named a car before, but this is Charlotte. '88 targa SOLD 2004 - gone but not forgotten
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12-22-2011, 03:15 PM
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canna change law physics
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Yeah! Massive party at Hugh's place!
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James The pessimist complains about the wind; the optimist expects it to change; the engineer adjusts the sails.- William Arthur Ward (1921-1994) Red-beard for President, 2020 |
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12-22-2011, 03:16 PM
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canna change law physics
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Solar Energy system for the House and go totally off-grid.
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James The pessimist complains about the wind; the optimist expects it to change; the engineer adjusts the sails.- William Arthur Ward (1921-1994) Red-beard for President, 2020 |
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12-22-2011, 03:17 PM
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Former Drama Queen...
Join Date: Oct 2002
Location: San Pedro, CA
Posts: 1,722
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Just let us know the date and time...
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~ Kim (KDOLL2) It is better to cry in a Porsche then in my Vue... |
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12-22-2011, 03:17 PM
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abit off center
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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
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______________________ Craig G2Performance Twinplug, head work, case savers, rockers arms, etc. |
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12-22-2011, 03:17 PM
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Quote:
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12-22-2011, 03:19 PM
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Registered
Join Date: Oct 2005
Location: Magnolia State
Posts: 7,548
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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.
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Jim 1987 Carrera 2002 BMW 525ti 1997 Buell Cyclone cafe project 1998 Buell S1W: "Angriest motorcycle I've ever ridden." |
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12-22-2011, 03:20 PM
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Driver
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Quote:
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.
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1987 Venetian Blue (looks like grey) 930 Coupe 1990 Black 964 C2 Targa Last edited by Noah930; 12-22-2011 at 03:23 PM.. |
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12-22-2011, 03:20 PM
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not as smart as I think
Join Date: Oct 2006
Location: Northern California
Posts: 769
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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.
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1978 911SC stock-SOLD 1985 911 Carrera Stock |
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12-22-2011, 03:24 PM
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Registered
Join Date: Oct 2005
Location: houston, tx
Posts: 7,259
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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.
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the unexamined life is not worth living, unless you are reading posts by goofballs-Socrates 88 coupe |
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12-22-2011, 03:25 PM
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Join Date: Mar 2003
Posts: 10,355
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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...
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IN MY EXPERIENCE, SUSAN, WITHIN THEIR HEADS TOO MANY HUMANS SPEND A LOT OF TIME IN THE MIDDLE OF WARS THAT HAPPENED CENTURIES AGO. |
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12-22-2011, 03:26 PM
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Registered
Join Date: Aug 2004
Location: Baton Rouge
Posts: 1,039
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As someone that was recently let go...I have a great idea, can you guess??
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12-22-2011, 03:29 PM
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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.
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'85 Defender 90 V8 Station Wagon (mine), 16 Mini Cooper S Countryman All4, 79 Mini Moke Californian (hers). '83 SC Coupe SOLD '96 Carrera 4 Coupe SOLD '89 Carrera Targa SOLD |
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12-22-2011, 03:32 PM
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1979 Porsche 911SC
1970/1982 Porsche 914-6/911SC 2.7 RS
1969 and 1986 Porsche Targa and Coupe 1720cc and 3
930 Turbo
Ducati
1987 Porsche 930 3.3T
SC Coupe
Moke
