2007-05-15 16:14:39 · 43 answers · asked by Anonymous in Family & Relationships ➔ Singles & Dating
response to hypothetical question?
its very hard to accumulate $100,000.
most people in america will never have $100,000.
this makes you a little special.
you will want to put the money in the bank and try to make regular additional deposits. with monthly regular additional deposits your balance will grow at a very rapid rate.
you might want to call around to 4 or 5 banks and find out the rate of interest they are paying. some banks will try to have you invest in a mutual fund. its not really recommended. if you choose to invest in a mutual fund be certain to check the history of the fund. funds use lots of tricks to make it seem as if they are earning big time. its mostly not true, so be really careful.
your want an FDIC insured deposit. this is a guarantee your money will be there when you need it. the FDIC is an independent agency of the US Govt. The US Govt, unconditionally guarantees deposits up to $100,000. and up to $250,000 for IRA's.
if you spend the money, you may never have the opportunity to accumulate $100,000 again.
keep your new found wealth private.
if anyone tells you they can double your money in a month or two, don't believe it.
you can also use half of the money to buy a house. however, be certain you are earning enough to pay the mortgage each month. also, if you buy a house, be certain you wont have to spend big bucks to make it livable.
best wishes on your hypothetical question.
2007-05-15 16:41:18 · answer #1 · answered by ramni222 6 · 1⤊ 0⤋
Buy a home for me and my kids to live in. It has to be big enough for all of us to have our own space.
Buy a mini van with air conditioning and a bomb *** sound system.
Buy a variety of cd's to play in the van.
Get the kids school clothes for each day of the week and shoes for each day of the week.
Get fake eye lashes.
And finally get a tummy tuck so I can wear a dress again. :)
Oh, yeah, I would probably adopt a family or two for Christmas and Thanksgiving.
2007-05-15 16:19:39 · answer #2 · answered by beachgirl90 7 · 1⤊ 0⤋
Get rid of all debt then put the rest away for retirement.
You could put it in the bank & let it build slowly but there are some other options that would earn you a greater return but they are generally a bit riskier.
2007-05-15 16:20:03 · answer #3 · answered by K C 3 · 1⤊ 0⤋
Put some of it into a mutual fund, some into my kids college education savings, and give the rest to charity. I don't need alot of money laying around. I'll become spoiled, greedy, and a target for thieves.
2007-05-15 16:18:32 · answer #4 · answered by Anonymous · 1⤊ 0⤋
Don't use it all in one place now. Me personally, I'd store about 75 grand in the bank so that it could gain interest over time, and then I'd pamper myself with a bunch of clothes, possibly a new car, and whatever else. Maybe give some to charity.
Have fun and good luck! ;-)
2007-05-15 16:17:43 · answer #5 · answered by lildevilgurl152004 7 · 2⤊ 0⤋
donate 10% to a good charity
put 50% in the bank
and buy a new car or go on a vacation with the remaining 40%
2007-05-15 16:17:07 · answer #6 · answered by n 1 · 2⤊ 0⤋
give like 10 g or 20 g to a local or some sort of charity the rest put it in the bank that's what i would do cause I'm awesome haha
2007-05-15 16:18:21 · answer #7 · answered by G-DOG THE ONE 4 · 1⤊ 0⤋
Buy a car and a house and a computer and invest some for my childrens college fund and just pay my mortgage in advance for a while. Stuff like that!!
2007-05-15 16:17:11 · answer #8 · answered by reggiethecokegirl 3 · 3⤊ 0⤋
I would pay off the debts I currently have and put some down on a house and put some for college funds for my two boys.
2007-05-15 16:20:41 · answer #9 · answered by Sabrina K 1 · 1⤊ 0⤋
Pay off my house, put $20,000. in savings for my kids to only get out when they are 18, buy my parents something nice, put the remaining balance into checking.
2007-05-15 16:20:55 · answer #10 · answered by boo76 3 · 1⤊ 0⤋