What Would You Do With $250,000 Right Now?

Imagine waking up one morning to see a Genie at the foot of your bed with milk and cookies.  She grants you the wish of converting your future earnings or current illiquid net worth into $250,000 cash.

For example, say you were to work for 20 more years and earn a median income of $60,000 a year before taxes.  Instead of methodically saving 20% for the next two decades, you can get all that money right now.  Would you take it?  I bet most would say “yes” since it’s your money and the present value of a buck is greater now than later.

The big question is, what are you going to do with the $250,000?  The stock market is volatile, bonds are bubbliscious, and savings interest rates are less than 0.2%!  Perhaps you’ll use some of the money to pay off your debts, further your education, and help out your loved ones.  Or maybe you’ll invest the money in your start-up company and watch it grow into the multi-millions.

Finally, maybe you’ll do absolutely nothing with the $250,000 and just keep it liquid for a rainy day.  The political landscape is pretty horrific as there’s no way the Jobs Act Bill will get passed since it attacks charities and municipal bonds which fund state construction.  Massive layoffs are imminent before the holidays despite cashed up corporate balance sheets because demand is uncertain.  You might very well be in for rough times, and that $250,000 + $1,600/month in unemployment insurance will help you get through!

Genies are appearing in front of many homeowner’s beds thanks to Ben Bernanke and the Fed’s low interest rate policy.  Few people would have ever expected the 10-year yield to drop below 2%, but it has.  Cash-out mortgage refinances are tempting people night and day now, but the party can’t last forever.  Ben’s nickname is “Helicopter Ben” for making it rain money.  I prefer to call him “Bengenie.”

WHAT I’D DO WITH $250,000 OF MY OWN MONEY (REMEMBER, IT’S NOT FREE MONEY!)

* Look for attractive 8%+ yielding 2 bedroom, 2 bathroom rental properties.

* Decide which municipal bond ETFs to buy.  Examples: CMF, CXA, HYMB, INY, ITM, PVI, NYF, PWZ, PWA, SHM, SMB, SFI.

* Invest $10-20,000 into the Yakezie Network for better user experience, interface, etc.

* Look for offshore high yielding, but stable assets given the USD will likely continue to remain weak or depreciate.

* Send $15,000 to my parents to help contribute to their home remodeling project.  Good luck guys!

* Do absolutely nothing with all leftover funds and wait for a potential recession to come when Obama gets re-elected.  There could be much better opportunities in the stock markets as a result.

Readers, what are some of the considerations before accepting the Genie’s wish? 

What would you do with an extra $250,000?

Regards,

Sam

Sam started Financial Samurai in 2009 during the depths of the financial crisis as a way to make sense of chaos. After 13 years working on Wall Street, Sam decided to retire in 2012 to utilize everything he learned in business school to focus on online entrepreneurship.

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Comments

  1. says

    I’d take $100k and throw it in SDY, the top dividend-paying stocks of the S&P500. I’d put another $140k into my small cap portfolio, with a single healthcare stock getting 90% of it. The remaining $10k would go into puts on the long bond as a rate hedge.

    I’d then leverage the $100k in SDY up 2:1 to extract the $50k at 2% per year. Take the $50k to Lending Club to chase yield.

    SDY would net $3,500 in annual income. LC would yield 6-8% or so, so $3,000 per year. Margin would cost me $1,000. Net carry income comes to $5,500 annually, or 2.2% per year, greater than the yield on the 10-Year Treasury with capital appreciation not at all limited. Leverage of 20% is reasonable, and I’d have a total of $300k at work.

    So who wants to give me $250k?

      • says

        For SDY to go down as a result of a change in the market, rates would have had to go higher. My treasury shorts cover some of that. You take the profits and buy lower.

        P/B on SDY is 1.9. ROE = 18.40%. That’s like earning 9.2% per year on your money.

        Small cap portfolio can dip 10% and it doesn’t matter either. The company I’d plow most of the money into is an LBO candidate. For clarity’s sake, I’ll even give you the ticker: MDF. We’ll let the future see if it’s a bad play, though I really doubt it.

        What happens when RE dips 10%?

  2. says

    I’d go the rental property route myself. I would invest in a market where I could find a 2-3 bed, 2 bath house for 130 – 150K. I would put 1/3 down as the down payment on 4-5 houses (to make for an easy positive cash flow for each), hire a property manager and sit and watch the money come in for the rest of my life. :) Once I build up equity on these houses, I could pull it out and expand my empire by repeating this process.

      • says

        Interesting. Definitely something to consider. If I were to hire a property manager, this would seem like the way to go. The only thing that keeps me from doing this is the option of selling one or two of the houses if needed. I like the ability to sell if I ever needed to. Single family homes are much easier to sell than condo buildings. Plus, I can sell one or two and keep my investment in the other ones.

  3. says

    I would pay off my mortgage (80K) and shift my Smith Manoeuvre (Canadian loophole to make your mortgage tax-deductible) into superdrive. I would pay off my significant other’s student debt (30k), even though I know that it isn’t technically “bad debt” I would still like it off my balance sheet, and it would make me much more confident in taking some investment risks going forward (using 10-30% leverage etc).

    I would then build a long-term portfolio around dividend-producing stocks, heavy in the Canadian banks (preferential dividend treatment, world’s safest banks), but I would definitely be in no rush to take up a huge positions here since I think they will sink lower yet. I would then set up DRIPs with these companies (yay discounts).

    For real estate exposure I would look at Canadian Real Estate Investment Trusts instead of purchasing a rental property because I have no faith in myself to handle the pain-in-the-ass factor of being a landlord.

    Finally, I would sit on the rest of the cash waiting for the market bottom that Sam and I both believe is coming in the next few years. Once the indexes get close to 2008 levels (they may not get quite to that point) I would look at which indexes I wanted to put money into in order to get maximum exposure in the most efficient way possible. Since my holdings will definitely be skewed towards Canadian companies at point, I would probably look at the Russell 2000, a BRICS index, and a world stock index. I think the American economy will rebound, but the days of 10% average growth are likely in the rearview mirror, better to cash in on the inevitable transfer of wealth and growing middle class around the world. Since my Canadian investments are nicely tax-advantaged I would probably toss these investments into my tax-advantaged accounts.

    Then I go about living my life, living modestly, buying economical vehicles, and retire comfortably at 40! The nice part about this hypothetical for me is that at 23 I’d be playing with a nice long investment window.

    • says

      The best part you said was “retiring comfortably at 40″! :)

      I love all the planning that you’ve done and plan to do.

      I don’t think we’re going back to 2008 levels.. gosh I hope not. I do believe there will be tons of volatility and we can trade the market though. We’re probably range bound for a looooong time, so it’s important we look at other income stream developments.

      • says

        I should note that my idea of comfortable is still pretty modest in a North American sense.

        I think that the world wide indexes will probably re-test 2008 levels, maybe not the S&P. There is just so much uncertainty out there, and there will continue to be until Western World countries develop the political will to address entitlement issues and debt addictions. The world will just have to adjust to a different balance of power (hello BRICS), grow stable, and start growing again.

        I just really like Canadian REITs relative to an American real estate investments at the moments thanks to their advantaged tax structure (super advantaged for me as a Canadian) and the fact our housing market is a little more stable, save for probably Vancouver, and to a lesser extent Toronto.

        • Hank says

          Canada is a commodity currency economy. It is also a good example of a social democracy and would never be an investment destination for my money. Social democratic thought in Canada inspired legislation such as WORKERS’ COMPENSATION, MINIMUM WAGE, OLD-AGE PENSION, UNEMPLOYMENT INSURANCE, FAMILY ALLOWANCE, subsidized housing (Canada Mortgage and Housing Corporation) and medicare.

        • says

          We definitely have a little too much government involvement for my tastes as well, but in terms of an investment destination we also have a stable government, a political system that is actually functioning at the moment, banks that don’t leverage themselves into oblivion, and last time I checked CMHC was pretty small potatoes compared to Fannie Mae and Freddie Mac. As far as our dependence on commodities, I don’t see oil or food going out of style any time soon. Oh, and lest we forget, we no longer have a “debt crisis” as we got our house in order 15 years ago, and our business tax is substantially lower than that of the USA. Perfect we are not, to say you’d never invest money here is a little extreme.

          • says

            I am impressed there is not MORE revolt in Canada with how high your taxes are and how much the government is all up in your business.

            What are the two main political parties in Canada? I’ve just come to realize that I don’t know that much about Canada.

            Things seem stable up there!

        • says

          Well, our taxes our actually still fairly low when compared to the Scandinavian countries for example. There are actually 3 main parties (some would argue 4) in Canada right now. The Conservatives (who might actually have more in common policy-wise with the Democrats just to put the Canadian-brand of conservatism in perspective) the Liberals (the “middle of the road” party), and the New Democratic Party (you know how when you call someone a socialist in the USA it’s an insult, these guys would take it as a compliment). There is actually a Green Party that got a seat in the last election as well. The country has always had some major geo-political divides, and right now we are seeing a more Western-dominated brand of Conservative government after decades of Liberal domination from the Greater-Toronto hub of Canada.

          Our political has less checks and balances in it, and our Senate is basically an alumnus posting. They don’t do much. Right now our Prime Minister has a majority if seats in the lower house (the only one that matters), and consequently he has way broader powers then an American President could ever wield. I like this, I find it leads to stability.

          Despite geo-political struggles, Canada is by and large fiscally conservative, and socially liberal, and all parties really tack hard to this broad centre. This means that no matter who is in government, nothing really changes that much (the NDP have never, and likely will never, form government).

          Our high income tax rates are balanced in low capacity by the low business tax rates. So that is why I think it is a good place to invest.

  4. says

    Wait. Wait. Wait.
    A sexy genie–who can conform time and space to her will–shows up with milk and cookies and 250 grand. That’s it?
    I know what I’d do. I’d take the quarter of a million and see if I can invest in a better genie.
    Sheesh.

  5. says

    If I were younger, I would use the $250K as a down payment on the biggest well located apartment building that immediately breaks even. It has to break even on current (hopefully low rents) so there would be upside. I should be able to get a $1 million building which should be worth $3 million in 20 years. I will either have it paid off or the mortgage would represent less than 10% of (future) value. Much of the income would also be tax sheltered.

    • Jonathan says

      This is exactly what I would do as well. Alternatively, if I couldn’t find a suitable apartment building, I’d buy 5 or 6 SFHs in the neighborhood we currently own one. We can get into them for under $30k with 80% financing, but I’m not sure how many the bank will finance with that level of down payment. I’ve heard 4 or 10. But anyway, I’d probably try to buy 5 or 6 immediately with 20-30% down each and then wait a little on the rest of the cash.

  6. Mike Hunt says

    You guys have some great ideas. I’ll tell you what- I’ll be the genie giving out the cash and you keep feeding the ideas for getting nice returns.

    Like the rental property ideas… where I am it is difficult to find the good deals because the vacancies are so high.

    -Mike

    • says

      It’s all about location baby! If you get a rental property in a good location, it is RIDICULOUS how much demand there is. There are often bidding wars and attempted bribes to get in, shit you not. A couple leases are coming up April 1, 2012 and my tenants should expect to pay 10% more at least.

  7. says

    Well my first question is.. why does the genie have milk and cookies?

    Secondly I would invest into real estate. I would buy houses in a stable renters market and make sure each house cash flowed to keep from having financial issues in the next few years. I would build up this portfolio of houses so that when 20 years down the road they are worth much more then.. I could sell some and live off the cash. God knows we aren’t getting much for any savings accounts or CDs and the stock market is a little too risky for my blood

    • says

      Oh yeah.. forgot one minor thing.. I would invest some of it to build up a nice website and also ‘donate’ some to this great organization in hopes for a link back to whatever website I built ;)

  8. says

    I like all of your choices.
    But I have a question abou this: “Look for offshore high yielding, but stable assets given the USD will likely continue to remain weak or depreciate.”
    Do such places exist anymore? Maybe Canadian bonds? I hear that their real estate bubble is still inflating. Canadian oil?
    Rental properties are probably a good investment, but mainly if you can get good tenants.
    If we get a recession/depression cash would be king. I don’t think we are out of that danger just yet.
    I would not take the genie’s money unless I really needed to get out of my house & couldn’t sell it. Not ready to do it at this time.

    • says

      If there really is a risk of a recession/depreciation, it would argue for taking the cash out all the more no?

      It’s all just accounting. Even if $225,000 was taken out, there’s still 25% of equity left as the withdrawal will be based on a total LTV of 75%.

    • says

      I would look at Canadian or Australian markets. Canada has a slight real estate bubble in parts of Toronto, and a major one in Vancouver (mostly due to a mega-infusion of Asian real estate buyers), but there is almost no chance of a greater Canadian meltdown. Our banks are just too stingy handing out mortgages! Oil and natural gas look like really solid bets right now. Anyone want to bet oil prices won’t go up in the next 10 years? If you’re looking for dividend companies, the oil/natural gas pipelines are very attractive. They run to the USA, so in essence you’re placing a bet that the American/Canadian addiction to oil will stay nice and high, and that the Middle East/Africa/Venezuela will stay politically turbulent… If only picking sports select tickets was that easy!

      • says

        Sounds like good advice, though I’m not so sure about Australia. You are so lucky that your banks are so stingy! They have saved Canada!
        As you say, investing in the pipeline companies could be the best overall. I might have to talk to Mr. Pennies about those companies. Thanks!

  9. says

    Interesting question. I gotta quote the late great Jim Rohn on this one. ‘formal education will make you a living, self-education will make you a fortune’. I would invest some of the money in developing my fledgling speaking and writing business. That way I retain control and responsibility for what happens.
    Chris

    • says

      Sounds good to me… donno if the Yuan has a long dated CD though. Inflation is at 6%+ in China and therefore it’s negative real interest rates as the most I see savings yielding in China is aroun 4.5%.

      RMB appreciating every year by 6% is good though!

      • says

        Chinese inflation would only apply if you were actually living in China. I send my savings over seas because the weakness of the dollar and the interest rates here just doesn’t make anysense in keeping assets in USD. I don’t let the money sit in a Chinese bank either. I use the money to invest in dividend paying Chinese stocks.

        My parents used this strategy to great effect in 2001. They sent back 300k USD to buy properties in Beijing and Shanghai. Back then the exchange rate was near 10 yuan/usd. Since then property values have quadrupled and they made money on the currency appreciation also.

        I think there is still further room for appreciation in the yuan as china is starting to ease restrictions on foreign access to Chinese currency.

        • says

          That seems like a great idea, if the timing was right. They are definitely a growing country and growing economy. Where do you invest in China? Ive done some investing in South Africa but have no idea where to look with China.

          Lately I have been thinking about how to invest in China, China companies or even having Chinese websites built.

        • Robin says

          @financial samurai – Personally I’m not buying Chinese property, not because I think its a bubble but more so for the sake of liquidity and strict Chinese tax laws when it comes to selling. I want to be able to move funds back to the US quickly if I can find a good opportunity here. I think the Chinese real estate “bubble” that most westerners refer to, in my view, is a misconception.

          In order to understand the Chinese real estate market, you really have to understand the Chinese people psyche. There are fundamental difference in the real estate bubble we went thru and the perceived real estate bubble we are talking about in china.

          @bankaim currently Im only investing in companies listed on the shanghai exchange.
          I believe foreigners can now invest in chinese class B stocks which are listed thru the hong kong if thats something you are interested in.

  10. says

    Starting a franchise would definitely be on the top of my list. I know what your thinking, the economy is not stable enough to start such a venture. I believe that this economy presents many opportunities for entrepreneurs. Unemployment is going to continue rise, thus starting a career services franchise would be perfect! Also, there many industries that are absolutely on fire right now!! Think about it. Technology continues to increase in terms of functionality. And consumers are always on the look out for the best technology, as long as we are not living with inflation, technology products will always be hot in the market. I would even say fast food franchises would be a good option because they are cheap for the consumer, the fancy and more expensive restaurants would and are now hurting from the economic situation. Discount retail stores would be superb as well.

    So, along those lines, that’s what I’d do with $250k.

    • says

      I agree with you 100% that in times of high unemployment, entrepreneurship/starting a business is EXACTLY what one should do. Labor is cheaper than normal, and people are hungry to do something and be somebody!!

  11. says

    The conversation is an enjoyable exercise. No brainer, invest and save. I’m still on the fence about more investment real estate; Although there were some wonderful properties in Provo Utah and Arizona that have some appeal.

  12. says

    Once the trigger is pulled, all you’ve got to do is get the $250,000 and pay down that cashed out refinance mortgage to get back down to the original mortgage level. It’s just accounting.

    I like dividend yielding large cap names as well.

  13. The Wealthy Canadian says

    I would likely invest all of the money and have about 55% of the funds to go towards ‘safety’ such as guaranteed interest terms or bond index funds and the remaining 45% towards large-cap dividend paying stocks (both Canadian and US equities) and maybe a few international ETFs.

    I’m not the type of person that would keep cash on the table hoping for future market gains/losses to capitalize on; I would be investing the funds the moment they would become available.

    Nice post Sam!

    • says

      Wow….. you’d dump $115,000+ into large-cap dividend paying stocks? That’s aggressive from my very conservative perspective, especially if $250,000 was basically the lion’s share of your liquidity. But, if it’s not, and since you have bonds.. then it sounds pretty balanced to me.

      • The Wealthy Canadian says

        Yep, no problem at all.

        And I say this only if the $250,000 are funds that are not required for any debt repayment.

        For example, if I owed money on my principal residence (which I don’t), I would pay my house off, along with and other outstanding debts.

        I would consider using the funds for a rental properties, but I have an interest in three of them and don’t wish to own any more.

        I think it’s a fairly balanced approach given my age. As I get older, I think I’d up the percentage of safety closer to the 60%-65% range.

        Cheers
        TWC

  14. says

    $250,000 extra dolllars, crashing down from the sky? That would be great!

    My approach would be simple:

    Take $248,000 and put it toward retirement.
    Then, take the remaining $2,000 for a vacation

    That’s it. Life would remain the same otherwise, and once saved I’d pretend that I never got the money.

  15. says

    Sounds like a like of speculation and wishful thinking with respect to near-term stock market growth. If I’ve learned anything, and as I profess in chapter 13 of my book, “How We Prevent Wealth”, we are horrible investors. Yep, every last one of us who think that we can time the market.

    It would suck to throw a quarter million dollars in a retire fund (although this couldn’t even happen as their are limits on contributions) and in 30 years not yield much from it.

    I’d pay off my two homes, which are passive income generating investments, and then perhaps write more books or invest in other people’s ideas so that I may receive royalties.

    Think about it, 2 homes that are paid-in-full, but generate at least $1000 monthly yields $24,000 a year! Why play the stock market when we can get a 10% annual yield?

  16. says

    I would pay down the remaining $130k on my mortgage, and then I might consider buying a rental property with the other half. There is a cute house just outside my subdivision that has been for sale for awhile. It is an older house but it is in one of the best school districts in the state. I would check it out and see if I could get a great deal on it. (Assuming it met all my other criteria for buying it.)

  17. Patrick says

    A new pistol is being released for all the free people who still have 2nd Amendment rights by Sig Sauer, the Sig P290 Sub-Compact 9mm with a starting price of $550. Like the peddlers of old I would buy my gun dealing license and purchase about $300 of these buy enough spare clips and ammunition to fend off a small metropolitan police department.

    Then I would hire roughly 200 former U.S. Military personnel and start my own personal security business focusing on areas where the government is failing to get the job done, i.e. Houston, Juarez, Phoenix and reclaim the rights that citizens rightfully have, to include freedom from harassment or extortion from the government.

    I would also strike deals with the right to work states and campaign with them to completely crush the unions in this country and their stranglehold on U.S. companies and Congressmen. While GM, Ford were on the brink of bankruptcy and disaster due to poor planning the unions taking their fat cut more nimble companies like Kia and Hyundai have been opening plants and creating profit and jobs.

    Once unions are gone my next goal would be to do away with lobbyist, make it illegal for government workers at any level to have collective bargaining agreements and allow each health insurance company to sell coverage in every state instead of implementing a sure to fail government run program.

    Of course, now I will be reported to #attackwatch on twitter or some website and be reported as a Tea Party extremist who must be locked away in a padded room for thinking that free Americans should actually be free and not slaves to the Government, the minorities and special interest groups.

    * * *

    Really, I would focus my energy on expanding the trade skill programs for wounded warriors and bring in smart CFP’s to give seminars in small towns across the country on how to perform the basics on financial management with follow-on consultation fees starting at $15 an hour. My goal would be to create an entire legion of people who are free from credit card debit, horrible car loans at 9% or higher, stop the over-spending on college (get those first two years at a junior college) and teach people how to be responsible for their own retirement and not on the government.

  18. says

    I’d do nothing. It’s the best advice I could ever give anyone that comes into a windfall inheritance, award or otherwise. Sit on the money for an extended period of time, at least a year and figure out what to do with it. You may decide to start a business, buy real estate (which takes months to close a deal), buy stocks via dollar-cost-averaging or just throw it in a retirement fund. There are dozens of things you COULD do with the money immediately, but you’ll end up regretting most of them. Take the time to research, investigate, and come to terms with your approach. All you’ve lost is some opportunity cost – and saved yourself a lifetime of regret.

  19. says

    I need more than $250k.
    We have a mortgage over $200k (for the record we borrowed about 40% of what we were “approved” for). But I wouldn’t pay that off in its entirety.

    I’d settle a loan: $12k
    Max out our TFSAs: $30k (likely a 50/50 mix of emergency fund and international stocks)
    Put $30k into some sort of investment vehicle that will help Mom down the road. I’d do this w/o discussing with her.
    $100k to the mortgage.
    $50k to install solar panels on the roof. Ontario pays (a silly) $0.80 or so per kw/h to people feeding the grid. ROI should be 7-10 years (our roof see a lot of sun so hopefully closer to 7). Then 20 yr contract w/ the province means awesome passive income.
    $8k to have our recently re-exposed hardwood floors finished professionally.
    $12k to get our attic reno done (structure, stairway, electrical, base plumbing, skylights/roofing) so we can add 900sq ft to the house.
    $8k for me to finish the attic myself.

    So yes, i’d pay off debt, and do some investing – but i’d also want to do things beyond the boring. I love our house and would love to upgrade it.

  20. says

    I will take the $50K to pay off some loans and debts, add another $10K on my 401K, put the $50K to our savings, and another $50K to mutual investments and stocks. To reward myself, I will spend $10K and go on a vacation and shopping spree (which I have not done for a long time) with my family. The rest? Let it sit on the account in the meantime while I think of what to do or where to invest further.

  21. says

    $250K hmmm.

    $100 to $150K would go to the future house payment. The Wife and I want the lowest monthly mortgage payment possible the next time around.

    Then the last $100K…hmmm I am thinking split among hand picked dividend stocks.

    I am not convinced on rental real estate yet. I have seen my dad go through hell with his properties, but I have seen the cash flow when things are up! So I go back and forth.

  22. Lynzi says

    I would pay off my student loans. Unfortunately I found out 4 years later, that my mother forged my name on applying for private student loans leaving me with 223+K in student loan debt. I make a good amount of money, however it all goes to paying my student loans. If this debt was taken away, I could invest in a laundromat with my husband and generate additional income, once that takes off it leaves room to invest in other Laundromats or other investment properties to generate more money.

  23. luckyone says

    So I’m a lucky one that has $238,678.38…
    I got 70k from a house I brought at 21and sold at 25 and the rest I saved… (I went without the finer things… Some may say um frugile)
    So what did I do? Left it in a high interest bank account and it just keeps growing. No risk and the money is there if I need it :)
    And I’m only 29…

  24. Young Canadian says

    Where in Canada can you find houses cheap enough where 250k is enough down payment to buy 4 to 5 houses? And would the bank really loan you that much money???

  25. a traveller says

    I’m semi lucky, half 125k I got from property and investments and savings split from a messy divorce, the other half 125k from inheritance from both my late parents who passed away young, all in the last couple of years. As well as the cash I still have another 250k valutaion of hard assests tied up in a freehold property. So the plan is to invest and lock away about 125k in stock and fixed term investments, 75k in high interest savings which both can’t touch remotely, quitting my 55k job and selling up everything except my property and 50k budgeted to travel around the world backpacking cheaply for a year or a bit to clear my head. Will come back, eventually refocus finances and start studying and building a decided career and life from scratch.
    Personally it would be nicer to have all my family back instead of this sudden wealth but have to make the best out of life you can despite circumsatances which is what is important…. at 36.

  26. Al says

    I will go to Peru and invest $200.000 in a savings acc. it pays 10% return anual. that will give me $2000 a month to live like a king in Peru, and with the $50.000 left. I will build a house outside the capital in the sierras.. and will live in peace…

  27. says

    I am dealing with my mom’s estate. She left a paid off home in a stable and desirable neighborhood. From what I know right now, there is at least 200,000.00 in savings/checking accounts. There is a savings account that I have not checked into, and a safety deposit box with unknown contents. Oh, then there is her retirement account of about 500,000.00.

    When I see all the numbers (at least the ones I do know) it is a lot of money for me to comprehend. I want to make the best decisions for me and my family and not screw up financially.

    I have a primary mortgage of 90,000.00 that I could pay off and then there is my rental (that I am upside down in) that has a mortgage of 97,000.00.

    This all happened fairly recently so I am trying to take my time with everything.

  28. paul d. says

    I would pay off all of our mortgage, student loans, and credit card debt ($200,000). I’d set aside money for the immediate care of my son who has hemiplegic cerebral palsy, ($25,000). The remaining $25,000 would go toward openin an online business that we always wanted to start-especially since I was recently laid off for the second time in a year and have already blown through two emergency funds! By the by, anyone hiring?

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