What would you do if someone gave you $100,000?

Question

I just watched a documentary on Showtime where a homeless man was given $100,000 and they followed him to see what he did with it? I'm curious to know, how do you define yourself now (low income, middle class, rich) and if given $100,000 tax-free, what would you do with it?

Answer 1

I'm Low-income single female making under $24,000 a year in California. I have a handicapped adult son I'm helping to support (he does get SSI though and helps with rent), If someone gave me $100,000 tax free and I trusted the source it came from, I'd get a money manager to help me invest most of it. Then I'd use part of it to fix up my mobile, do the needed repairs. Get the few credit cards I have paid off, then go about my life pretty much as I have been, using some of the interest generated from the invested money to FINALLY for the first time in my life take a nice trip once a year. (I'm 52, ,my son is 22)

Answer 2

I would help my children out with a deposit on a house. I would also keep some and take a trip overseas to see my relos who I have never met. Then the rest would be put into the bank to save for when I retire. I guess my definition of myself would be middle class. Cause Im not rich by any means. To some I may be rich, because I own my own home, but I worked my butt off to do it. You shouldn't defire a person on how much money they have, cause the poorest person may say they are rich in a different way. Its how you percieve the life you lead.

Answer 3

I'm low to mid income and if I was given 100,000$ I would probably buy myself a new car and put the rest into my bank for school. But of course I would take a nice trip to Japan on the money first too ;D

Answer 4

Currently low to middle income (just got slight raise). If I got $100,000 first thing I would do is pay off all debt, then maybe get a better used car and save whatever was left, which would probably be about half.

Answer 5

I watched the same documentary and all I can say is that I wish that happened to me. The guy that they chose started out really smart, but in the end, what a dumbass. I would probably make one big purchase, which would be a very good used Volvo hatchback and my wife and I would keep working and invest the rest of the money.

Ohh, I would buy a new Honda Scooter Ruckus, to get to work in.

Answer 6

I would invest it into a mutual fund or bank CD for about 3 years. During that 3 years I'd be thinking of what to use the money for. More than likely, a down payment on some property. Property doesn't depreciate like other material things.

Answer 7

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If I have $100,000 , I would like to invest in some in buying bonds and shares and I would use the rest of the money to open up an affordable dry cleaning bussiness in my neighborhood .

Answer 8

well i understand how someone would say they would buy a house but, the way economy is now i dont think you can find a house for a hundred grand... if there is let me know... i personally would pay debts if i had any.... and the rest i would save and wait for the right moment and invested in something that would make me more money.......

Answer 9

i consider myself to be middle income. if i were given $100,000, i'd adopt a child from india, i'd give some of the money to relatives who need help, pay of some debts and donate to mother theresa's charity.

Answer 10

Low to middle income. I would pay for college, and buy a house, or instead of buying a house, I would give it to charity!