So I got 80 Thousand!! What should I do?

[MiLiTARYiV]

This is good advice! +1

Did that already..LOL

 

[MiLiTARYiV]

WOW so many reponses..


I'm so leaning to paying it off. If I travel get hookers, buy drugs etcc Then it would be a waste then I will be on here making a I"M STARVING PLEASE HELP ME THERE

ME, I already had the finest girls without money just because of my looks (well) not my looks alone but you know, it wasnt money cause most of the time they buy me stuff. I had a girl buy me a car, cell phone, and damn near a house ....etc... I mean if I got rich I would be like I already screwed you..LOl

Seriously some people get money then screw girls, I been having them.

 

[rabbitgirl]

Relax! Your grandfather ain't gone home yet ur already planning 2 spend ya inheritance. What will u do if he gets back 4rm d hospital 4 another 10-15 years?? No poisons please

 

[tony-raymondo]

pay off most of mortgage

rent out house for profit

use other half of money to live and work at something you like

 

[tubeincreaser]

I'm trying to move offline. I'm getting tired of sitting by a CPU 24 hours day and a CPU business is good money.

Fix one CPU for $50 times 31 days in month equal over $1500 a month. Thats only if I fix 1 CPU a day not including other sales

That is minimal depending on what marketing you are doing. SEO you can get at least $1500 a month from each client.

 

[Laser]

broaden your BH horizons,,

Think ,,,

Infomercials on Television

promoting CPA products.

 

[dillfly2000]

80 thousand eh, the first thing I would do is pay off my house, car, any leftovers I would put into marketing.

 

[MiLiTARYiV]

That is minimal depending on what marketing you are doing. SEO you can get at least $1500 a month from each client.

You miss the point when I said I dont want to be on CPU 24 hours a day

 

[grenty]

Pay off the house. Removing debt is never a bad thing to do.

 

[supamanjon]

isn't the apr on houses about 4% for 30 year loan. Putting it in a cd or something would get u more return then the interest you pay on your house.

 

[MiLiTARYiV]

NOOOOOOOOOOO

APR n my house is almost 15% lol.. Well not funny but crazy

 

[Chronos]

Pay off the house.

I hate, hate, HATE oweing people money.

 

[MiLiTARYiV]

Me too. Hate owing people. But I love people owing me,,,

 

[tywebb]

If the best APR you can get on a house is 15% then you should be renting.

If grandpa thinks you are smart, and you really are, he should have no trouble in you investing his 80k in a business. Thats the smartest thing to do IMO

 

[sunbros]

If you live in US. You can open a pizza store

 

[texarcana]

what country are you in? If you're in the USA, (or any other country that taxes inheritances/capital gains), seek the advice of a reputable Tax Attorney before you spend a single dime. You don't want to pay something off, only to lose it soon after because you can't afford to pay the taxes on it.

 

[whiteninja]

I would take 10k invest some in Gold, Silver, Copper. Then I would pay 50k and pay that towards the mortgage to make Grandpa happy and give yourself a little piece of mind. Then I would take 20k, start a mobile computer repair shop with a car wrap and awesome name and pay for yellow page ad and so forth and build your business without too much risk. Despite not small beginnings the good book says.... Good luck and Congrats!

 

[chrisking]

Just be smart! First think about what you really want. I earn 20k a month, I read alot about money management. The best solution for me is saving money. Why? Because with 80k you can live for 40 months (2000 a month), without a dayjob. So you can use this 3.3 years to build yourself a business, with the insurance you have money on the bank. After 3.3 years you have a good running business with earns you a lot of money. Pay off your mortgage is bad for your taxes. I worked in a computer shop, but you must work your ass of to earn some decent income. First take your time to think about a good business for yourself, which will earn you a passive income. You first must work by yourself, but choose a business which can be outsourced. You then have time to spend the money you earn.
If you spend the money on your mortgage your life will be the same over 5 years nothing special happends. Just be smart and let your money work for you!
What if you will be dead next year? Yeah you paid off your mortgage but you didn't enjoy life.

 

[izm]

lol at paying off the home.

ok, just bought a house. 120k. last sale was in 2005. for 300k.

not exactly the smartest decision. say, if that was your decision then. so what changed now? yeah the housing market is probably low as it can go, but seems like you haven't even bought it in this market.

so. go ahead and do some research before diving into that. figure out what your house is worth then decide.

if that's the route you want to go, which I think is absolutely stupid but whatever we all don't take the same chances.

 

[doctorjay]

Give me 20k upfront plus 40% retainer for 6 months...you will make make 100k a month in 2 months... guaranteed.