So, you receive $21,XXX in a lump sum

[CRXican]

Quite a variety of replies as expected. So, ~9,000 or half is sitting in my ING savings. Then about $640 went to my Vanguard retirement account.

So I still have about $9,500 to play with. My current kick is guns and ammo. I could blow it all quick but I'm cheap.

I'm not sure a house is a good investment anymore. Maybe if I didn't live in SoCal.

 

[amdhunter]

Downpayment for a place.

 

[Red Squirrel]

Assuming by no outstanding debt that counts the mortgage too, then I'd probably build my server room and finish the rest of the basement. For what I want I figure it would cost me around 10k or so. I'd do all the work myself so it's only really materials. Basement would be mostly open, and I'd probably buy some gym equipment too.

Rest would go towards RRSPs and I'd get an epic tax return which I could then put towards more RRSPs or another project.

 

[SunnyD]

- Pay off my 3 credit cards
- Pay off 4x old debt that are holding me back
- pay off the balance on my car note
- stash about 2k for down payment on a new car after about 2 months of waiting for the previous 3 items to cause my credit score to jump about 150 points (thereby dropping prospective APR by about 5%)
- Take about 3k of the remaining and put it in my investment account
- Bank the rest for a rainy day (which is still about 5k)

 

[velillen]

I'd put half right into my "emergency access" long term fund.
4-5k would go to building the fence around my back yard that ive been wanting to do.
Probably 2k would go towards guns and ammo
The rest would go to assorted things like a new home theater receiver.

Come December ill actually have to figure all this out.

 

[child of wonder]

1. Replace couch in basement
2. Replace queen size bed with a king size
3. Repair and replace large parts of our backyard fence
4. Save the rest

 

[TakeNoPrisoners]

Save most of it, it will come in handy for when I transfer to university.

 

[sourceninja]

Call it an insurance settlement. A family member helped you pay the deductible and you pay them back ~$2,300. You have about $19,500 left.

Assuming no outstanding debt. What do you do with this money?

I'd start investing it to open my own brewpub. It's my dream to 'retire' into a nice pub.

 

[Exterous]

Then about $640 went to my Vanguard retirement account.

That seems like an odd amount to send them.

Well, assuming no outstanding debt we would probably:
$5,000 in a CD for a down payment on a car in a year.
$3,000 towards a vacation.
The rest to various retirement accounts

 

[IAteYourMother]

nothing... just keep living life and buy little extra luxuries here and there.

 

[Jadow]

I'd buy about 6 oz of gold and stick the rest is savings.

 

[WaTaGuMp]

Buy Facebook stock, its going to make you billions.

 

[manimal]

One word. Plastics !

 

[roguerower]

1. Pay off student loans = $10k
2. Pay off bike loan = $5.5k
3. Rest into 401k = $4k

Pretty easy for me.

 

[HybridSquirrel]

Save 80%, spend 20%. Don't a lot of people follow the 80/20 rule for lumpsums?

 

[bbs lm-r]

Give it to my dad to start a business.

 

[jagec]

Two really ugly chicks at the same time?

 

[RossMAN]

Quite a variety of replies as expected. So, ~9,000 or half is sitting in my ING savings. Then about $640 went to my Vanguard retirement account.

Isn't ING savings paying around 0.80%?

Have you considered another option which is almost triple ING?

Your savings federally insured to at least $250,000 and backed by the full faith and the credit of the United States Government.
National Credit Union Administration, a U.S. Government Agency

 

[Corporate Thug]

stocks.

 

[Corporate Thug]

Isn't ING savings paying around 0.80%?

Have you considered another option which is almost triple ING?

is that for just the first 15k? Am I understanding that right?

 

[SparkyJJO]

Down payment for a house, for sure. The only debt I have right now is my student loan I'm still repaying but I don't owe much more. I'd rather get the house and stop renting first.

 

[RossMAN]

is that for just the first 15k? Am I understanding that right?

Correct, I found it here. Does that link work for y'all?

 

[Corporate Thug]

Correct, I found it here. Does that link work for y'all?

works fine, thanks Rossy. I might move in 15k there and just let the rest site in my savings.

 

[boomhower]

New siding and windows on the house.

Is that payment taxable? Don't forget about that and end up screwed next April.

 

[RossMAN]

works fine, thanks Rossy. I might move in 15k there and just let the rest site in my savings.

You're welcome, always happy to help AT'ers spend or save their hard earned money

My local credit union has a similar rewards checking account with a slightly higher APR and max balance of around $25k.