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I inherited $650K from grandparents. What do I do with it?
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Date: August 23rd, 2017 11:28 AM Author: Histrionic sanctuary crotch Current job pays $100K, but it's in an industry that I don't particularly like. No student loans. GF makes $75K in a job she doesn't like either.
Can I afford to move to Asia for a few years while our nest egg grows? Is buying property and renting it out credited or a hassle? |
Date: August 23rd, 2017 11:29 AM Author: Excitant slimy son of senegal senate ETH ETH ETH ETH ETH (http://www.autoadmit.com/thread.php?thread_id=3709581&forum_id=2#34051956) |
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Date: August 23rd, 2017 1:10 PM Author: Hot University one-shot trill (http://www.autoadmit.com/thread.php?thread_id=3709581&forum_id=2#34052570) |
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Date: August 23rd, 2017 11:31 AM Author: Racy theatre Give some to me (http://www.autoadmit.com/thread.php?thread_id=3709581&forum_id=2#34051971) |
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Date: August 23rd, 2017 11:36 AM Author: cracking address Good for you, but that's not enough $ to just say fuck it and screw around for a few years. Could look at going to grad school if you legitimately want to change careers/industries, but don't blow 200K on some fake masters in something like sustainability.
Putting 100K in crypto isn' a bad idea; Fred Wilson advises young people to put 10-20% of their assets in it, so you'd be in that range.
Probably makes sense to buy rather than rent if you're sticking in the same place long term.
Index fund the rest and let it grow so you'll get a big boost in retirement. |
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Date: August 23rd, 2017 11:39 AM Author: Racy theatre "Good for you, but that's not enough $ to just say fuck it and screw around for a few years."
lolwut. sure it is. |
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Date: August 23rd, 2017 11:49 AM Author: cracking address Not enough that you're going to live off it long term, so might as well get on with figuring out life. Anyone with $50K can just quit and not work for a year, but it's not a smart decision unless you have a plan. (http://www.autoadmit.com/thread.php?thread_id=3709581&forum_id=2#34052080) |
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Date: August 23rd, 2017 11:37 AM Author: Puce swollen lettuce indian lodge Give it all to your degenerate gambler dad for a "business opportunity" (http://www.autoadmit.com/thread.php?thread_id=3709581&forum_id=2#34052009) |
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Date: August 23rd, 2017 12:14 PM Author: turquoise theater stage Subtle Goldfinch trolling (http://www.autoadmit.com/thread.php?thread_id=3709581&forum_id=2#34052263) |
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Date: August 23rd, 2017 11:41 AM Author: garnet ticket booth hairy legs Need to know your age, net worth, location, etc.
If in non-NYC/SF, buy a house and invest the rest into bonds and stocks.
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Date: August 23rd, 2017 12:12 PM Author: Histrionic sanctuary crotch We're both late 20s. Combined net worth not counting the inheritance is $150K.
Non-NYC/SF, but I don't think we're ready to buy a house in our city yet. |
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Date: August 23rd, 2017 2:42 PM Author: garnet ticket booth hairy legs buy the house with the $650k. u save on rent and get some first homeowner credits. (http://www.autoadmit.com/thread.php?thread_id=3709581&forum_id=2#34053136) |
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Date: August 23rd, 2017 11:42 AM Author: concupiscible vengeful menage toaster Split it into thirds and invest one third in RE, one third in equities/business and one third keep in cash (http://www.autoadmit.com/thread.php?thread_id=3709581&forum_id=2#34052039) |
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Date: August 23rd, 2017 11:46 AM Author: green multi-colored theater one third in cash is waaay too high. (http://www.autoadmit.com/thread.php?thread_id=3709581&forum_id=2#34052059) |
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Date: August 23rd, 2017 11:47 AM Author: concupiscible vengeful menage toaster Maybe SOME gold/crypto to balance it?
Cash is kept as a contingency because if you want to get action on another opportunity like another building or some stock when the market crashes you need dry powder |
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Date: August 23rd, 2017 12:07 PM Author: Stirring reading party native This. Keep dat ammo in a high yield money market and kill it (http://www.autoadmit.com/thread.php?thread_id=3709581&forum_id=2#34052222) |
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Date: August 23rd, 2017 11:47 AM Author: naked bat shit crazy karate area The ruble should be 45 to the dollar and not 59. Buy rubles. (http://www.autoadmit.com/thread.php?thread_id=3709581&forum_id=2#34052067) |
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Date: August 23rd, 2017 11:49 AM Author: Aromatic circlehead parlor Take a pay cut to get on a career path you might enjoy someday. Can't imagine what that could possibly be tho (http://www.autoadmit.com/thread.php?thread_id=3709581&forum_id=2#34052084) |
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Date: August 23rd, 2017 11:51 AM Author: Fiercely-loyal Dopamine Rehab Give it to a black family living in generational poverty. You'll re-earn that money through privilege. (http://www.autoadmit.com/thread.php?thread_id=3709581&forum_id=2#34052095) |
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Date: August 23rd, 2017 12:14 PM Author: Supple jet locale boiling water (http://www.autoadmit.com/thread.php?thread_id=3709581&forum_id=2#34052262) |
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Date: August 23rd, 2017 12:16 PM Author: 180 State (http://www.autoadmit.com/thread.php?thread_id=3709581&forum_id=2#34052271) |
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Date: August 23rd, 2017 11:58 AM Author: irradiated navy center VTI (http://www.autoadmit.com/thread.php?thread_id=3709581&forum_id=2#34052143) |
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Date: August 23rd, 2017 12:05 PM Author: Beady-eyed Puppy why is your GF included in these plans? (http://www.autoadmit.com/thread.php?thread_id=3709581&forum_id=2#34052206) |
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Date: August 23rd, 2017 12:09 PM Author: mind-boggling haunted graveyard Donate it to the U.S. treasury. Think of all this country has done for you. (http://www.autoadmit.com/thread.php?thread_id=3709581&forum_id=2#34052232) |
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Date: August 23rd, 2017 12:10 PM Author: lascivious keepsake machete ETH (http://www.autoadmit.com/thread.php?thread_id=3709581&forum_id=2#34052237) |
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Date: August 23rd, 2017 12:38 PM Author: ebony stag film mother (http://www.autoadmit.com/thread.php?thread_id=3709581&forum_id=2#34052390) |
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Date: August 23rd, 2017 12:16 PM Author: citrine razzle-dazzle mad cow disease shrine I can't help but notice you referring to "we" in this post. Before you do anything, just get one thing through your dumb fucking skull: this is YOUR money. Whatever you do, do not tell your GF about this. And if you already have, I hope your stupid ass didn't tell her how much money it is. You may as well kiss it goodbye if you did that.
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Date: August 23rd, 2017 12:20 PM Author: Supple jet locale boiling water (http://www.autoadmit.com/thread.php?thread_id=3709581&forum_id=2#34052294) |
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Date: August 23rd, 2017 12:20 PM Author: turquoise theater stage This (http://www.autoadmit.com/thread.php?thread_id=3709581&forum_id=2#34052295) |
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Date: August 23rd, 2017 12:21 PM Author: Appetizing well-lubricated school (http://www.autoadmit.com/thread.php?thread_id=3709581&forum_id=2#34052301) |
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Date: August 23rd, 2017 12:36 PM Author: Autistic garrison psychic THIS THIS THIS THIS!
#1 goal is to keep your GF's greedy fucking hands off it. DO NOT UNDER ANY CIRCUMSTANCES START "Living off of" this money.
Then if you get married and then divorces, you will have to pay her alimony based on that standard of living.
Invest in a mix of real estate + ETFs/MutualFunds and let sit for 20+ years. |
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Date: August 23rd, 2017 12:38 PM Author: ebony stag film mother (http://www.autoadmit.com/thread.php?thread_id=3709581&forum_id=2#34052393) |
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Date: August 23rd, 2017 12:41 PM Author: Racy theatre lol this (http://www.autoadmit.com/thread.php?thread_id=3709581&forum_id=2#34052406) |
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Date: August 23rd, 2017 7:03 PM Author: Racy theatre (http://www.autoadmit.com/thread.php?thread_id=3709581&forum_id=2#34054949) |
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Date: August 23rd, 2017 12:20 PM Author: turquoise theater stage I'd roll that shit into stable investments.
Retirement comes fast. |
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Date: August 23rd, 2017 12:22 PM Author: citrine razzle-dazzle mad cow disease shrine As for what to do with it, I would put down a 20% payment on a house that you can afford the monthly payment on without tapping into this money. So probably in the $400-500k range at today's interest rates.
Now you have 550k to invest. I would put $250k into VTI. Just forget about that money for 40 years.
You now have 300k. I would put $100k of this into speculative investments, but spread the risk into 4 or 5 of them. ETH is a good buy. Consider picking a few single name stocks that you like too. (Biotech, drug companies, etc.)
With the remaining 200k, I would buy investment properties, invest in home flips, and buy boring small businesses that are cash flow positive and that can be run by other people, like laundry mats, parking lots, drycleaners, carpet cleaners, and landscaping. I would avoid investing in commercial real estate until it is clear what's going to happen with self driving cars and transportation. I know that sounds insane, but it is reasonably possible in 10 years that almost no one will give a fuck where their grocery store, pharmacy, dry cleaner, etc. are because all of those things will be delivered by mail or courrier (autonomous or otherwise). |
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Date: August 23rd, 2017 7:10 PM Author: Charismatic Field Gay Wizard How does one find positive cash flow businesses? (http://www.autoadmit.com/thread.php?thread_id=3709581&forum_id=2#34054998) |
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Date: August 23rd, 2017 12:25 PM Author: peach immigrant sorry for the loss of your last grandparent. nice they looked you out at the end. (http://www.autoadmit.com/thread.php?thread_id=3709581&forum_id=2#34052332) |
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Date: August 23rd, 2017 1:15 PM Author: Onyx curious digit ratio Titcr (http://www.autoadmit.com/thread.php?thread_id=3709581&forum_id=2#34052598) |
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Date: August 23rd, 2017 2:55 PM Author: trip office Fordham Law (http://www.autoadmit.com/thread.php?thread_id=3709581&forum_id=2#34053211) |