Just don't spend all of it, $15K is a nice sum ..... - Saab General Bulletin Board - Saabnet.com
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Just don't spend all of it, $15K is a nice sum .....
Posted by TKC (more from TKC) on Sat, 24 Apr 2004 15:57:44
In Reply to: What to do with $15,000?, ChipJ, Sat, 24 Apr 2004 15:12:34
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first and foremost, pay down any high interest debt, such as credit card.
Yes, spend *SOME* on yourself or family, LASIK isn't a bad idea.
I assume you live in the US, if not, what comes below may not be applicable to you.
Invest the rest in some mutual funds for *RETIREMENT*, such as a Roth IRA if your family income bracket is below the Roth threshold.
If you don't need the extra money for retirement, then consider putting money into a 529 (college tuition plan). Check into your own state's 529 plan if it offers you extra tax savings, otherwise, just put in a reasonaly good 529 plan. However, you mentioned your son goes to college in a year's time, so the 529 may not net you much advantage. If you have others in the family who may attend college in a few more years then you may still want to look into the 529 plan.
If you currently have an investment portfolio, then put the money into the portfolio and diversify according to your risk or age profile.
If you are secure enough in your current financial situation, then hey, by all means, spend the whole darn thing 8-). Go to http://www.audiogon.com and buy that stereo that you always wanted !
posted by 12.75.193...
Posts in this Thread:
- What to do with $15,000?, ChipJ, Sat, 24 Apr 2004 15:12:34
- Re: What to do with $15,000?, Paul A, Mon, 26 Apr 2004 13:22:32
- Retirement savings..., JBinDC, Mon, 26 Apr 2004 06:42:51
- Re: What to do with $15,000?, Dan , Sun, 25 Apr 2004 13:48:26
- Very good show I heard on NPR's Tavis Smiley, SaabKen in Vancouver, Sun, 25 Apr 2004 12:03:15
- Re: What to do with $15,000?, Bob M, Sun, 25 Apr 2004 08:57:50
- Pay-off your credit cards, open an IRA, get a mortgage, John Rose, Sun, 25 Apr 2004 08:05:28
- 3-2 Exacta in the 3rd at Aqueduct, pony_trekker, Sat, 24 Apr 2004 18:05:49
- a very nice diner for you, rest to school fund n/m, Al S, Sat, 24 Apr 2004 16:58:26
- Opportunity with Mr Smith Jerry Kayelor(frudster), TedPeters, Sat, 24 Apr 2004 16:41:03
- I accept donations =8-) nm, Trev, Sat, 24 Apr 2004 16:18:54
- Just don't spend all of it, $15K is a nice sum ....., TKC, Sat, 24 Apr 2004 15:57:44 <-- Viewing This Message
- Invest it in your son's tuition, ckpaden, Sat, 24 Apr 2004 15:46:21
- Depends on family situtation..., MisplacedYankee , Sat, 24 Apr 2004 15:31:03
- tuition..., Scott Paterson , Sat, 24 Apr 2004 15:27:17
- Re: tuition..., kooch, Sat, 24 Apr 2004 16:44:25
- Re: tuition..., Ed NC, Mon, 26 Apr 2004 07:02:31
- That is a GREAT point, Kooch >, ChipJ, Sat, 24 Apr 2004 19:54:42
- The best school of thought is diversification..., MisplacedYankee , Sat, 24 Apr 2004 18:42:21
- Re: tuition..., Geoff, Sat, 24 Apr 2004 18:27:43
- true - how are school loan rates?, Scott Paterson , Sat, 24 Apr 2004 17:20:47
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