You've just inherited $70,000. What do you do with it?

Answer 1

$69,000 of it I would spend on good beer, cheap women and casino gambling. The other $1,000 I would just waste.

Answer 2

I would put $25,000 in the bank, pay off $5000 I have in debt, give my husband $5,000 and give each of my grown, yet not rich daughters $10,000 (obviously 2).

The $15,000 that I have left would be put into my house until the money runs out. We need a new tv (our current tv has annoying lines across it, a new front door (the current one is ugly), get a new washer/dryer unit and make a 1st floor laundry room (no more dragging heavy baskets of clothes up and down the basement steps). If there is any money left, I would give my house some curb appeal.

I won't inherit $1 from anyone, but thanks for the littlle spending spree dream. That was fun. (I know! Boring for most, but fun for me.)

Answer 3

This is such an easy question. First, don't put it in a savings, CD or any bank since there are low returns and inflation will erode your wealth. Invest $25,000 in overseas markets that have stability and growth, in countries such as Spain, Denmark, Sweden and France. With $10,000 put it in a variety of mutual funds. Put $20,000 in companies that will continue to grow, companies that have a lot of upside and protection from market corrections. If you want invest the rest in real estate in undervalued areas in the United States, such as Nebraska, Utah, Arizona, Tennessee, (please no real estate investment in NYC, way overpriced and $15,000 will buy you about 10 sqr. feet). Or spend the $15,000 on a nice ride, such as Benz C350Sport, or Toyota as a big downpayment.

Answer 4

CONGRATULATIONS!

First make an appointment with a FINANCIAL CONSULTANT! And get a FREE fiancial review of your current options the key for you should be "Preservation:" of your capital.

Do you have any major expenses pending?

Do you owe anybody any money? Loans? Credit Cards?
Pay yoruself first and pay these off ASAP!

Do you have a Trust Document and/or a Will?

Your GOAL is to have this money GROW for you!

You can also get some FREE advice from your local Banker or Credit Union - Make an appointment! Discuss options!?

GOOD LUCK! :-)

Answer 5

Well, as a matter of fact, I just did although it was a bit more. Paid off all high interest credit cards. Gave the rest to investment people to invest and let grown. I did spent a little on things I wanted but couldn't afford before.

Answer 6

Buy yourself a small home. That's what my husband and I did. Since then, we've only had to work enough to pay the utilities, and we can save and invest whatever else we make as we choose. It's nice. I've started a parrot collection with my extra money.

Answer 7

Pay off my car, some medical bills, and one small credit line. Go on a vacation with my wife, buy some new furniture, throw some in my mutual fund and invest in the FOREX market.

Answer 8

Diversify. I have 100K that I split between investing in QQQ, forex and half with aid4families. The QQQ and forex are variable but aid4families gives me a sure amount each month. Check them out for yourself.

Answer 9

Use $1,000 to pay off the rest of my credit card, $2,000 each to 2 friends to help them out, $5,000 to my parents & then since I'll finally be able to afford to move out, I'd get a little apartment for myself & live off of the remaining $60,000 slowly.....I would still keep my current job of course.

Answer 10

get my teeth cleaned, pay off my credit card, buy a couple of steaks and a bottle of wine, then put the rest in a well-rounded investment account...then while it was safe and making money i would have time to consider buying a home or starting a business...or just continue to contribute to it for my retirement...

Answer 11

Pay bills, get house fixed (major) get a decent used vehicle and go out to a nice restaurant with a few friends. It would mostly be gone between pay bills and get house fixed.