I've got $2M. Where to spend it?

[JacobS911]

Originally Posted by Rawknees'Turbo

It is amazing how simple my lifestyle is compared to youse high roller bisches - I require far less money to be fairly content than the sums I see being tossed around above - wow! I guess I'm lucky in that regard?!?!

Great pic, M2!

was thinking the same about deeeezzzz high rollerzz.. to each their own. I def wouldn't be working tomorrow at my current job if 2m was magically deposited into my checking today.

[Matt Monson]

Originally Posted by Rawknees'Turbo

It is amazing how simple my lifestyle is compared to youse high roller bisches - I require far less money to be fairly content than the sums I see being tossed around above - wow! I guess I'm lucky in that regard?!?!

Great pic, M2!

There's want and need. My answer is to the question of what would it take to get me to retire today. I could make do and survive on substantially less, and many of my dreams will likely never come true.

However, kids complicate the hell out of the financial scenario. They say that just the cost of raising one is around $20-25K/yr.

There's also property costs. My little ranchette cost me $1/2M and it's a 1974 crap shack split level ranch. The land is worth $400k of that and the house is the rest. I've seen what I can buy for the same money in parts of Texas and I'd be living like I was in the NBA. But then I would have to live in Texas.

My actual retirement plan involves buying something somewhere much cheaper when the time comes and pulling out enough cash difference to buy a winter condo somewhere warm and tropical like Costa Rica or Panama or something.

I've got a friend looking at land in Tennessee right now. He's in his 60s and owns his home in CA outright as of last year. For what he can pull in on monthly rent in CA on his place he can pay the mortgage on something pretty nice out in the country.

For me personally, I am more likely to go south of here someday and find something in New Mexico or even Arizona. I dig the high desert.

[Alan A]

Originally Posted by Matt Monson

first semester at Cal for $872 was tuition. By the time I graduated it was more than $4k a semester. I can't even imagine what it will be at a private school in 10 or 15 years.

If you didn’t already and think a private school may be on the cards look at a private college 529. You get future tuition at present value.

I have one for each of my kids - it’ll carry #1 for a couple of years until I can draw down the Roth without penalty.

[Matt Monson]

Originally Posted by Alan A

If you didn’t already and think a private school may be on the cards look at a private college 529. You get future tuition at present value.

I have one for each of my kids - it’ll carry #1 for a couple of years until I can draw down the Roth without penalty.

As I just posted there's dreams and then there's reality. Reality is we've told the kids they are probably going to only be able to afford a state school. But my wife went to CU. Her father went there. Her grandpa went there. It's a good school and many successful people have come from state schools. We do have a college fund set up for the older one and the younger will be getting one soon too. If they want to go somewhere fancy they gonna need some scholarships because we don't have pockets that deep.

[JacobS911]

Here's me with my 2M retirement.. followed by my girlfriends dreams for a family hehe

[dwelle]

Originally Posted by Matt Monson

As I just posted there's dreams and then there's reality. Reality is we've told the kids they are probably going to only be able to afford a state school. But my wife went to CU. Her father went there. Her grandpa went there. It's a good school and many successful people have come from state schools. We do have a college fund set up for the older one and the younger will be getting one soon too. If they want to go somewhere fancy they gonna need some scholarships because we don't have pockets that deep.

i went to CU. my youngest wants to go to CU.

we live in CA.

ouch....

[Macroni]

M2..... Start the 529 for both even if it is $5.00/month. It is worth it.

[Matt Monson]

Originally Posted by Macroni

M2..... Start the 529 for both even if it is $5.00/month. It is worth it.

We have one for April. We just haven't gotten around to it yet for the younger one.

[Matt Monson]

Originally Posted by JacobS911

Here's me with my 2M retirement.. followed by my girlfriends dreams for a family hehe

I miss those days sometimes. 20 years ago when I moved to Colorado I rock climbed or skied 300 days that first year. I was a dirtbag all through my 20s. I lived on $25k or less until I got involved with my now wife.

[1979-930]

College. meh.
I quit College carrying a 3.9 something. I didn’t see the point unless I was going to be an engineer, doctor or lawyer.
I’m doing just fine.


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[Matt Monson]

Originally Posted by 1979-930

College. meh.
I quit College carrying a 3.9 something. I didn’t see the point unless I was going to be an engineer, doctor or lawyer.
I’m doing just fine.


Sent from my iPhone using Tapatalk

Absolutely. I am 100% behind Mike Rowe’s works program and furthering the trades. But as a parent that’s not my choice to make. I feel my obligation is to get them ready to jump out of the nest as best I can, which includes having $$$ for college available if that’s what they want.

[DerkPerk]

Originally Posted by NYNick

I made a deal with my kids. Any scholarships you get and use, I'll refund 50% of any money you save upon graduation. One of them went into NROTC at a high end college. I wrote him a big check upon graduation, and I was happy to do it. Better him than them.

I really think this is brilliant.

As this thread started in need of some green font, I am actually picking up some useful information here.




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[NYNick]

Originally Posted by Matt Monson

Absolutely. I am 100% behind Mike Rowe’s works program and furthering the trades. But as a parent that’s not my choice to make. I feel my obligation is to get them ready to jump out of the nest as best I can, which includes having $$$ for college available if that’s what they want.

Herein lies the rub, and how the Feds and colleges feed on our parental instincts. We all want this for our kids, but it's a trap that's difficult to escape. I wrote checks for hundreds of thousands of dollars so my kids would not be saddled with the crushing responsibility of college loans. We were lucky to be able to provide this for our children. Most aren't. It's a sorry state of affairs that isn't necessarily the right way.

[Rawknees'Turbo]

M2, no doubt that those of youses that spawn youts live in an alternate reality from the lone wolfs - great point!

NastyNick, which is more biggly worse - the redonkulous scam of the cost of higher ed or the absurdity of healthcare for profit/the health insurance, Vegas-style-gamble, scam sham (or are they equally yuuugggeee in suck)?!?!

BTW - what a great, carrot & horse, tuition reimbursement idea. My father was big on that training incentive technique (he began when I was of the age for auto insurance - I maintain a B or better average and he would pay my insurance with "good student discount" applied . . . no B average meant I would not be driving as I could not pay my own insurance at the time). Also, I graduated college with about $10K in student loan debt (not much compared to many, but more than enough for me) and after about a year of me paying on it, he suddenly cut a check for the remainder. A pretty nice dude!

^^^

Shouldn't have said "started" with the auto insurance deal, but that was a big example. The carrot and horse stuff started way back when I was a little pissant and had to earn every dollar I got from the dear ol' parents (weekly chore list options with money amounts tied to them). Also, my first car was an Opel GT - Dad bought it and I made monthly payments to him until it was paid off - no monthly payment meant I could not drive it. That's also how I first learned to work on cars - no way no how was he going to pay for a shop to work on it, so I had to learn. I was 14 at the time.

[Matt Monson]

Raw,
My dad offered the same deal. First insurance at 16 and then college. He said he would pay anywhere I got in. I had one semester in college below a B average so had to pay him back for that one. And then when I graduated he gave it back to me as a graduation present.

[1979-930]

So strange this conversation went this way.
I have a deal with my son. All A’s and you don’t have to have a job. I’ll pay gas, ins, spending money, the works.

I didn’t have that luxury. I was washing dishes at 12. I faked a photocopy of my birth certificate at 13 to work at Golden Corral.

This is a kid that was 4.0 through 7th. Slipped a little in 8th and 9th because of the BS foreign language requirement that I encourage him to get done early.
Now at 16 after getting his license and giving him my Saleen Mustang he rewards me with a 2.25gpa. He’s cut off and it’s so hard to hold the course. No Karting, gas money or spending money. And I’m on his ass to get a job.
2.25 you’ve got time to work because you aren’t studying...
He’s almost out of Christmas money and will be riding a bike again soon.
Gas isn’t cheap when you need 91 octane.
Color me pissed off


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[Rawknees'Turbo]

^^^

Sixteen, if not a couple of years earlier, is the magic age where parents (all adults in general, for that matter) suddenly become "giant azzholes". Stay the course, Deez, ya' fookin azzhole!

Originally Posted by Matt Monson

Raw,
My dad offered the same deal. First insurance at 16 and then college. He said he would pay anywhere I got in. I had one semester in college below a B average so had to pay him back for that one. And then when I graduated he gave it back to me as a graduation present.

See there M2 - united by similar/good upbringings! ***forum butt pinch***

[Macroni]

My dad didn't give me brains but he certainly gave me a work ethic and provided the opportunity for a great life... started me sweeping the sidewalk in front of his mother's grocery store when I was seven..... taught me the importance of sweeping the dirt out of the cracks and getting the corners...he paid for my brother, five sisters and my college education... he worked hard and sacrificed. Work and education was important to him and my mother. These were the values he modeled, it wasn't a lesson it was our families legacy....

When my kids came of age, they too were encouraged to work; to find the that feeling of personnal accomplishment...thankfully hard workers.

[NYNick]

Originally Posted by Rawknees'Turbo

M2, no doubt that those of youses that spawn youts live in an alternate reality from the lone wolfs - great point!

NastyNick, which is more biggly worse - the redonkulous scam of the cost of higher ed or the absurdity of healthcare for profit/the health insurance, Vegas-style-gamble, scam sham (or are they equally yuuugggeee in suck)?!?!

BTW - what a great, carrot & horse, tuition reimbursement idea. My father was big on that training incentive technique (he began when I was of the age for auto insurance - I maintain a B or better average and he would pay my insurance with "good student discount" applied . . . no B average meant I would not be driving as I could not pay my own insurance at the time). Also, I graduated college with about $10K in student loan debt (not much compared to many, but more than enough for me) and after about a year of me paying on it, he suddenly cut a check for the remainder. A pretty nice dude!

^^^

Shouldn't have said "started" with the auto insurance deal, but that was a big example. The carrot and horse stuff started way back when I was a little pissant and had to earn every dollar I got from the dear ol' parents (weekly chore list options with money amounts tied to them). Also, my first car was an Opel GT - Dad bought it and I made monthly payments to him until it was paid off - no monthly payment meant I could not drive it. That's also how I first learned to work on cars - no way no how was he going to pay for a shop to work on it, so I had to learn. I was 14 at the time.

Between the Health Insurance scam and the higher education scam, I think it's an embarrassing tie of which is worse, although I might give the win to Health Ins. since it affects everyone. On the other hand, the Feds aren't loaning you money you can't afford to pay back to buy health insurance.

The institutions of higher learning and the insurance companies are completely unregulated. It's unfathomably cruel to offer those with less opportunity the carrot of improving themselves through education by lending them money they'll never be able to pay back, but it's just as evil to continue to raise tuition well in excess of inflation or actual costs.

Of course, people aren't dying for the lack of education, like they do without proper healthcare. Healthcare is just a mess and the insurance companies are the devil.

(that check I wrote my son after college sat invested for 10 years and helped him with a downpayment to buy his first house. So I guess it was a good idea!)

[Matt Monson]

My dad and stepmom are here this week. He’s a retired CPA and is assisting me with converting my books to quick books after the older program we used was discontinued by Microsoft. Anyway, just last night I was talking with my stepmom about my little brother. I started by how I like to watch my 2yo sleep. She responded that she used to watch my brother sleep when he was 14. He was such an insufferable little shyte that she needed to do that to remember he was still beautiful. Now he does double duty as a special ed teacher and assistant manager at a Boys Club. They find their way, just like we did.