If you had $500,000 tax free right now..
 

What would you do?

I would have to say I would finish fixing and maybe add about 5-10k into my truck and make it into something sweet. Then I would buy another 95 GSX and make spend about 10k on it and have some fun on the drag strip and the rally cross courses.

with about 20k in fun toys I would definatly buy a house with a 3-4 car garage for Jana and I. Probably spend about 300k on the house. Nothing to big, but a nice sized garage.

So that is about 320k down. I would take about 80k and have Jana buy a car or 2 she has always wanted. Probably the BMW she has wanted and then another of her choice which would probably be another fun sporty newer car and tailor it to her tatste.

So with 100K left I would probably use half of it to get married and make it as perfect as I could for Jana. Probably a 2 or 3 month honeymoon traveling all over the world! And with the other half I would try to get another business going of some sort. Or go back to school full time and not have to worry about all the debt.

Now looking back at that and spending some tiem thinking about all of it it make me realize you can do alot with 500K.

What would everyone else do?

I would buy myself the car I want, finish paying off my house, pay for my college and pay off the student loans, buy a few things for my closest friends and family, and invest the remaining ~$300k

I'll let you know in 10 years when I have half a mil in the bank. :rolleyes:

Ok, maybe more like 15-20 years... or 30. I can tell you I would spend it alot differently if I saved up the money rather than having it handed to me. But somewhere in there I would definitely buy a house, and probably a nice car.

Buy a house and frame-off resto my Chevelle

Pay off both my debt and my parent's debt. From there I would set aside enough for the rest of my education followed by purchasing an acreage/farm. From there I'd probably spend $100-150K on toys and invest the rest.

Double or nothing at the casino.

Buy 100,000 shares of Sirius stock.

Pay off school loans ($12k) and other debts ($6k)
Invest $10k into the Galant
Get an EVO VII from Japan ($35k)
Get a winter beater (probably a 1g AWD--$3k)
Get a really nice apartment with nice furniture/electronics ($40k)
Pay for a wedding in Hawaii along with family/friends airplane tickets ($30k)
Get a 12" and 17" Powerbook, Top of the line G5 with 30" display for web design, and a nice PC for gaming ($30k)
Invest into stocks ($100k)
Buy my family/friends some stuff ($50k)
Donate to charities ($85k)
Deposit remainder into savings ($100k)

I would buy two Skylines and a vette for my dad and I. The rest would be handled by Chris.

2 girls at once?


Probably start some sort of business.

By a Duplex so I can rent out half and have most my living expense paid for the rest of my life. With the other 200,000 to - 250,000 I would buy fun stuff, and save a bunch of it.

I would go on with my life the way I see it planned in my dreams :)

Around 250k for a nice house with a nice garage. Spend 30k on tools and other necessities and a lift.

Buy a 911 TT for around 25k used for a Daily and buy my girlfriend a nice car.

Send a large check to QPR and have my car towed there with a list of things Mike can work on. ;)

Take some money to buy a nice towing vehicle with a nice Nitro 18' bass boat on the back. Maybe a yamaha RX-1 and GSX-R 750 to fill the garage a little.

Save the other ~150k and put it in the bank or invest and watch it grow.

Half on a house the other half in some high interest bank account to keep earning.

Pay off student loans so far and continue to go to school and not worry about $$. Get a newer/reliable car, I have no idea what but something around 20K +/-. Buy a new computer, G5 w/the works. I would buy a few smaller things but I would save as much of it as possible and use it to generate more $$.

Buy a decent house, build a nice heated garage and stock it with tools, make 600 hp conquest... repeat as necessary

Well I already bought a 1/4 mill house, so pay it off. Then invest invest invest. But what I would realy do is put a down payment on a Mclaren F1, jk.

~John

i would use it as a down payment!

Finish my car (12k)
Finish school (10k)
Get a nice house in the country or desert (150k)
Furnish the house and garage (50k)
Get a new truck for a dd/tow vehicle (40k)
Buy a few more project cars (30k)
Quit my current job (priceless)
Invest (20k)
Give half of what's left to my family (94k)
Start a business with half of that (47K)
Keep the rest for expenses and such (47k)

Would people care to elaborate on these businesses they want to start?

i would have a $500,000 crack party with Tyrone Biggums

I would invest it all in real estate myself.

lets see
pay off half my parents bills/house 50k
pay off half grand parents debts bills/ 50k
pay off my bills 15k

build me a house 250k
skyline built 40k
dsm 12k
invest and two or three or maybe four girls at once 83k

werd

I would start a "Target" like car department store.

Waiting room, restraunt, parts UPON parts: everything from tires to tire flies and every bolt imagineable, In Car Electronics, demonstrations, car toys, Do it yourself rental bays with lifts and rental tools, regular garage staff doing stuff like lube tech and reg maintenance. It would also be on Uni Ave in Saint Paul, the parking lot would be HUGE, and I would stay open til 1AM on the weekends so the cops CANNOT kick you out of my lot...

I would need a lot more than 500K

I would almost have enough to pay for my son's college in the year 2022!

I would pay off my house, and get my cars into the 9's. And I would find a decent luxury car for daily driver duties.

Pay off debts, buy more stuff, get a rental property as well as a house for my self. Anything left over would be put in various savings and investment accounts.

Business #1: Real Estate
Business #2: Nightclub/Sportbar
Business #3: Forget the first 2, make all that money work for me and move to a more exotic location and live like a king.

I would pay my parents back, put the rest in a high intrest yielding account, and live comfortably for a while...

Probly invest all of it. It would not change my live much... yet. I would invest in mutual funds, stocks, and some municipal bonds (tax free). Lets say I invested all 500K at a rate of 5% intrest (reasonably attainable), it would yeild my $25K extra per year in intrest alone. I do not have any debts yet with school and all. That should change next year but I will have to make some sacrifices this summer (dsms for sure). It would be fun to spend it all but that is only in the short term. It would be alot nicer to know that when I am 65 years old that I will have enough money to retire and live with less stress. Time to invest in assets that apreciate instead of depreciate. It is the only way to get ahead.

Very nicely stated.