What would you do if you had $75,000 saved up?

Question

Assume that you are in your late 20's, single, have a bachelor's degree, no financial obligations, and were debt free. Besides the $75,000, assume that you have unlimited money available for additional schooling or training if you wanted. This is the predictament I am in, and it is tough to decide when there are so many options and information being thrown at me.

Answer 1

1. Continue with your education. Consider doing your Masters abroad.
2. Invest in a Roth retirement account (you actually may be too young, come to think of it!!) but talk to a financial advisor about retirement planning NOW. Take care of Numero Uno first!!
3. You have the luxury of being financially sound so when you decide on a career, make is something you enjoy doing. Consider opening your own business even! Like, say renting scuba diving gear on the island of Belize....
4. Perhaps before you decide to join the work force you may want to consider trying to change the world, one person at a time, by joining the Peace Corps. etc. and put your talents to work. It is most gratifying and will change your life and open your heart.

Whatever you do, don't waste your life. You only have one life to live and it starts NOW!

Answer 2

Do you own a home? Home have been a good investment for many many years. If you do not wish the hastle of home ownership, and many do not, then you should put that 75k to work for you. You have already received a half dozen answers that say invest. I will not repeat that exactly. It would be foolish to try to invest that amount without knowing something about investments.

So set aside $100 to $200 of that money and buy yourself a few books on investing. Start with a basic book such as "Investing for Dummies". Then grab a book on mutual funds.

Many people stop at this point and use mutual funds as their investment vehicles.

Other proceed to the next step, which is investing in stocks of particular companies.

To do that you will need to learn about how to evaluate a company. My favorite books in that department are "Security Analysis" by Grahm, Dodd, Cottle and "Technical Analysis of Financial Markets" by John Murphy. Those two books have entirely different approaches to evaluating companies.

Many people invest in realestate. I am not one of those, but many have done very well for themselves in land development, rentals, and buying and refurbishing properties and reselling. I always thought that sounded too much like work myself.

Answer 3

first off i would definatly invest.... put some in saving an mayb some stocks to get some more cash..... what's your car and housing situation? maybe buy a new car or start making payments on a house or a condo or sumthin.... if you have any hobbies you could spend money on that..... maybe take a vacation..... you may even want to consider getting your masters degree first and leave your money in the bank were it can grow.... then buy a nice house an a new car after you get a good job which should be easy since you have your masters.... good luck!

Answer 4

Buy a house. Get equity. Sell the house after 5-10 yrs.

Give to others. Like me. I'm a soon to be graduate student who could use some extra funding in my college expenses....just let me know.

Answer 5

i bought my house when i was 25 with $90,000 down payment, paid off at 33, get married and live with my husband, rented out my house(three units) as income, i am retired now, traveling around the world. hope this help.

Answer 6

honestly, i can't imagine being in that situation. i say invest, but that is probably not as fun as using it all up on a dream vacation (like i'd want to do). you're lucky to have such a problem!

Answer 7

Keep saving! No sense rewarding your frugality by blowing it.

Answer 8

I'd try and find the worlds FIRST virgin prostitute, then buy more whores.

Answer 9

I would buy 7,500,000 swedish fish

Answer 10

invest