How to waste $180,000.00?

Hi, I just became $180,000.00 richer and I'm trying to figure out what's the smartest way to spend it. (And no I'm not making such huge decision based of yahoo answers ONLY; So don't judge for the question lol)

But I've been debating with myself if I should consider investing this money on

Hi, I just became $180,000.00 richer and I'm trying to figure out what's the smartest way to spend it. (And no I'm not making such huge decision based of yahoo answers ONLY; So don't judge for the question lol)

But I've been debating with myself if I should consider investing this money on some sort of business or should I buy me a cash house. It's a dream to have a house of my own paid for at 28, but not sure if it's the smartest thing.

Any opinions?

Best Answer:

Alberto Segovia: House. Purchasing a house is an investment that generally goes up in value. It also will reduce your living costs (no rent or mortgage payments).

Putting the money into a business investment may result in your losing all or part of the money.

Other answer:

Alberto Segovia:
Forward $175,000 to me and keep $5,000.
Josh:
Just depends on what your ultimate goals are. Here are a few thoughts:

1. Take a portion and save for retirement/rainy day. Being 28, if you took only $20k and placed it in an Indexed Strategy – by 55-60yrs old you would likely have in excess of $500k built for retirement – TAX FREE – income.

2. Take the remaining and use it for a downpayment on a commercial apartment building. Live in the building, rent the other 20+ apartments ultimately ending up with an income of around $100-200k/yr depending on the purchase.

3. Buy a home. This is the MOST EXPENSIVE option because remember…this house doesn't MAKE YOU MORE MONEY. You've been given a gift…it's an asset right now. Allow that asset to make you more money, not become a liability.

smahadevan39:
Deposit the amount in your name in a Bank and you may take decision leisurely.
Courtney:
id put it into property.
Edward:
You said "waste" it, but you're talking about investments.
Why don't you use it to see the world?
Kenny:
some sort of business . You don't sound like you know how to protect yourself . I would invest in a fairly safe no load mutual fund like Vanguard Total Stock Market Fund and let the money cool for a while . But of the two options you gave the house sounds better because the real estate seems to be moving up . Also keep some aside for unexpected expenses . Good luck .

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