If you got $20k tomorrow tax free... - Page 5

the weakonomist · 04-05-2009, 06:15 PM

I'm getting married this fall so I'd throw $5k into our honeymoon fund to upgrade everything (including destination probably) and another $5k into savings for unforseen expenses with marriage and moving. The other $10k would go into a longer term savings but we plan on buying something big in the near future and the extra cash would help.

Either that or a new car for my fiance

financialnut · 04-07-2009, 12:36 PM

I've got to be completely honest- I would take the whole lump sum and dump it into an index fund. I have faith we're at the bottom of the market and now is a fantastic time to buy! That could set me up financially for a long time.

greasypigarvin · 04-11-2009, 07:15 PM

I owe my folks about 10,000 dollars when they took out a HEL/HELOC for me to buy my car, for me to pay back at the interest rate of the loan, so that's the first to go.

After that, start an IRA, max out contributions, and the rest in an emergency fund.

ninjaowen · 04-13-2009, 10:48 PM

I'll take a vacation with my family then deposit the remaining amount in the bank for future or emergency use.

starshard0 · 04-14-2009, 05:48 PM

Quote:

Originally Posted by financialnut

I've got to be completely honest- I would take the whole lump sum and dump it into an index fund. I have faith we're at the bottom of the market and now is a fantastic time to buy! That could set me up financially for a long time.

I agree with that one %100. Except I'd max out my IRA as well.

04-05-2009, 06:15 PM	#41
the weakonomist Member Join Date: Feb 2009 Location: Southeast Posts: 64 Thanks: 0 Thanked 0 Times in 0 Posts Reputation: (10)	I'm getting married this fall so I'd throw $5k into our honeymoon fund to upgrade everything (including destination probably) and another $5k into savings for unforseen expenses with marriage and moving. The other $10k would go into a longer term savings but we plan on buying something big in the near future and the extra cash would help. Either that or a new car for my fiance __________________ Weakonomics.com Twitter.com/the_weakonomist

04-07-2009, 12:36 PM	#42
financialnut Member Join Date: Feb 2009 Location: Provo, Utah Posts: 57 Thanks: 0 Thanked 0 Times in 0 Posts Reputation: (10)	I've got to be completely honest- I would take the whole lump sum and dump it into an index fund. I have faith we're at the bottom of the market and now is a fantastic time to buy! That could set me up financially for a long time. __________________ Trevor Shipp: Author \| Webmaster @ Financial Nut Tips On Budgeting \| Twitter: @trevor_shipp

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04-11-2009, 07:15 PM	#43
greasypigarvin Junior Member Join Date: Apr 2009 Posts: 17 Thanks: 0 Thanked 0 Times in 0 Posts Reputation: (10)	I owe my folks about 10,000 dollars when they took out a HEL/HELOC for me to buy my car, for me to pay back at the interest rate of the loan, so that's the first to go. After that, start an IRA, max out contributions, and the rest in an emergency fund.

04-13-2009, 10:48 PM	#44
ninjaowen Junior Member Join Date: Apr 2009 Location: New Jersey Posts: 6 Thanks: 0 Thanked 0 Times in 0 Posts Reputation: (10)	I'll take a vacation with my family then deposit the remaining amount in the bank for future or emergency use.