Serious question. Would love to hear your thoughts on this and what you would do with the money.
BossBitch
๐ค If you got a $100k+ commission check, how would you invest it? ๐๐ผ๐ฅ
35
1. Build up a 3-6 month expenses emergency fund. Include all bills / food budget items so that you can land another job if you need to without flipping your life upside down.ย
2. at least 20% into retirement savings - [401k, IRA, Brokerage that you dont plan to access, HSA]
3. If you have debt above 3% interest, eliminate it
4. Vacations - experiences & memories are everything!ย
2. at least 20% into retirement savings - [401k, IRA, Brokerage that you dont plan to access, HSA]
3. If you have debt above 3% interest, eliminate it
4. Vacations - experiences & memories are everything!ย
This is extremely useful!!
Pretty close to @Kionaย but I'd also look at paying off some of my mortgage (interest below 3%) as this also helps with life if something major happens. This is my number 2.ย I dream of being mortgage free by 40!
This is also my goal! :)
Put the extra money in a brokerage account. It will grow faster ~6-8% vs the 2-3% youโre paying down. Once itโs raised enough money to pay off the loan, cash out your long term investments and you will have already established a healthy savings habit and be debt free.
you also get to write off mortgage interest which lowers your tax burden. ย
you also get to write off mortgage interest which lowers your tax burden. ย
Nailed it.
House savings, max 401k, max ira, little bit of fun money, brokerage account.
If I had any larger loans or debt, pay those off would be priority.
If I had any larger loans or debt, pay those off would be priority.
Yeah, I'm thinking similar to this. I live in Florida and although I want to buy a house, just not really the time for it right now in this area.ย
What I should of done:
1. Save (3 Months of salary)
2. Pay of student dept
3. Invest (diversify portfolio)
4. Leftover, buy something nice for yourself within reason
What I did:
1. Vegas
2. Try to be a baller (Bottle service, gambled, most expensive suite)
3. Spend the rest on clothes/car/drugs
Good thing I am a good salesperson and made it again, but learned my lesson.ย
1. Save (3 Months of salary)
2. Pay of student dept
3. Invest (diversify portfolio)
4. Leftover, buy something nice for yourself within reason
What I did:
1. Vegas
2. Try to be a baller (Bottle service, gambled, most expensive suite)
3. Spend the rest on clothes/car/drugs
Good thing I am a good salesperson and made it again, but learned my lesson.ย
this one hit close to home hahah
If you have debts, pay that shit off.
I'm assuming you already max out your 401k/IRA if you're asking about this.
I asked some friends who worked in various finance fields (investment research, financial advisors) a few years back. They all recommended laddering investments (doing say $10k every month). I'm an index funds guy so I did that for several months and also beefed up my savings (I'm sort of paranoid about financial markets and keep about a year's worth of spend in cash to avoid calamity in a worst case scenario).
I'm assuming you already max out your 401k/IRA if you're asking about this.
I asked some friends who worked in various finance fields (investment research, financial advisors) a few years back. They all recommended laddering investments (doing say $10k every month). I'm an index funds guy so I did that for several months and also beefed up my savings (I'm sort of paranoid about financial markets and keep about a year's worth of spend in cash to avoid calamity in a worst case scenario).
I'd love to buy a rental property but unsure what the market will do. Definitely would use it in diverse ways.ย
I was looking into house flipping or buying for a rental last night and I just don't know if I can commit the time to that but don't want this money just sitting in my bank doing nothing.
I agree. My brother is in sales too and he just bought he 2nd rental property and flipped it. He loves it but also hires people to flip it. Takes a lot of money and time. Not sure I want to do that route as well. Hard seeing money just sit there too lol
Car, table, maybe set a little aside for a home
Ethereum, especially after it dipped today
Fuck ya. Unfortunately I am very down right now ๐
Same, but removing emotion from investing, dips = buy if you believe in crypto!
Can someone say VEGAS๐ฅ
Strippers and cocaine ๐คฃ
Take me to the craps table and watch me put it all on the field...
Just don't let the strippers know you have cocaineย
*don't let anybody know you have drugs ever
Very true, very true. Especially strippers.ย
Well, we derailed this conversation fast.
LET IT RIIIIIIDE!!!!
401k already maxxed on base salary. kid's savings plan on autopilot. right now i'm pretty heavily invested in equities through retirement accounts and personal accounts. have a robust emergency fund. would likely look at rental property or land near the mtns or sea for the long-term.ย
real estate is pretty frothy in the triangle right now...so if this hypothetical was right now i'd be hunting for bargains on larger tracts in the mtns. or sea.
real estate is pretty frothy in the triangle right now...so if this hypothetical was right now i'd be hunting for bargains on larger tracts in the mtns. or sea.
Dogeย
to the mooooon
buy more real estate. 100k = 400k worth of property, can find some pretty good props if you know where to look.ย
Although I am speaking more from opinion than experience (had some massive commissions, but no single check larger than 30K) but first and foremost you need to eliminate anything that costs you money. Before you focus on making money and generating wealth, eliminate the loans/debt. A mortgage is obviously different than student loans or credit card debt. After that, you need to max out your ira/401K etc. After that, making sure you have a cushion for "what ifs" and finally, you absolutely need to invest into yourself. Some people will joke about vegas...but you seriously need to reward yourself. You busted your ass and it is fair to do something slightly selfish with the "now" and not simply think of the "then"ย
1. Put 95% of it to house saving /paying of mortgage - $95k
2. Put 2% into visiting family in Australia - $2k
3. Put 3% into buying some shit ive always wanted.ย I.e. new bike or whatever other hobby you have.
2. Put 2% into visiting family in Australia - $2k
3. Put 3% into buying some shit ive always wanted.ย I.e. new bike or whatever other hobby you have.
Im pretty on par with you here! Dreaming of buying a house one day and with the market so hot right, I just gotta sit back and save. So I'd probably save 90-95% of that for a house. Maybe I'd take 40% of that and invest it to help my money grow a bit and keep the other half safe as savings....anyways with the last 5-10% I'd treat myself and my family to something nice. Life is short, gotta make sure you enjoy today as well.ย
Outside of purely using it for savings/401k/investing/fun money, would invest quite a bit of it in real estate
Pay as much of debt as i can then throw the rest in savings or an investmentย
I'd probably put it into Sharsies (NZ) tbh.ย
Crypto baby ! Doge to be exact!
Probably put it towards another rental property
I'd buy a franchise that I could run part time.
Make Elon proud, Doge #tothemoonย
Id go ham on GV NFT's right now
Depends on your financial situation. ย Buy a home for future passive income or invest it in an etf/mutual fund until you find a business / rental property that can make you $$
Pay off my all my debt and throwing the rest into cryptos
DOGE, BNB, ETH. ABC (Always Buy Calls) Baby!!!
Bye debtย
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