27, no job, $100,000 - What would you do with it?
July 1, 2009 5:10 PM Subscribe
27 years old, $100,000 dollars. What would you do?
You are or were 27 years old, you have no job and no obligations, you have 100,000 dollars. What would you do with it?
I am interested in both emotional (travel the world!) and rational (invest all of it!) answers - the more specific the better. Would you:
-Use it to start a business? What Kind? How much would it realistically take?
-Use it to buy a house? Would you buy a house over investing in a diversified, index-based portfolio?
-Put all of it into a retirement account? Some of it?
-Buy a pony?
What would you do with this opportunity to increase your satisfaction in life, both at age 27 and into the future?
You are or were 27 years old, you have no job and no obligations, you have 100,000 dollars. What would you do with it?
I am interested in both emotional (travel the world!) and rational (invest all of it!) answers - the more specific the better. Would you:
-Use it to start a business? What Kind? How much would it realistically take?
-Use it to buy a house? Would you buy a house over investing in a diversified, index-based portfolio?
-Put all of it into a retirement account? Some of it?
-Buy a pony?
What would you do with this opportunity to increase your satisfaction in life, both at age 27 and into the future?
This post was deleted for the following reason: if this is not hypothetical chatfilter then you're maybe asking it wrong. Either re-ask anonymously with more details or explain why you're asking next week. -- jessamyn
Pursue my ideal career, even/especially if it doesn't pay well, saving and investing the money to allow me to do so without worry.
posted by Solon and Thanks at 5:18 PM on July 1, 2009
posted by Solon and Thanks at 5:18 PM on July 1, 2009
Pick a great world city, move there and find a place to live. Over the next 3 years figure out how to maintain your lifestyle, make the connections to start a career, and live happily after.
posted by aereoperro at 5:19 PM on July 1, 2009
posted by aereoperro at 5:19 PM on July 1, 2009
I'm 29 - I would pay off all of my student loans, around $25K worth, any other debt as well. Then I would put away an emergency fund. Then pay a years worth of my rent and live easy for the rest of it. Maybe do less overtime. Eh, probably not.
posted by mokeydraws at 5:20 PM on July 1, 2009
posted by mokeydraws at 5:20 PM on July 1, 2009
Use it to get a job.
Starting a business isn't a bad idea in general, but if you don't know what you want to do or how much money it will take, your business will fail with 100% probability.
Buying a house isn't a bad idea in general either, but unless you want to become self-sufficient, you'll still need some other form of income to subsist on.
Finally, if you don't reach retirement because you can't afford to take care of yourself now, any amount of investment in your future is fairly meaningless.
I'm probably going to be the pragmatist here, but it sounds like you need to figure out how to live the rest of your life. $100k is a lot of money. However, the remaining 55 years of your life will require even more money.
posted by saeculorum at 5:20 PM on July 1, 2009
Starting a business isn't a bad idea in general, but if you don't know what you want to do or how much money it will take, your business will fail with 100% probability.
Buying a house isn't a bad idea in general either, but unless you want to become self-sufficient, you'll still need some other form of income to subsist on.
Finally, if you don't reach retirement because you can't afford to take care of yourself now, any amount of investment in your future is fairly meaningless.
I'm probably going to be the pragmatist here, but it sounds like you need to figure out how to live the rest of your life. $100k is a lot of money. However, the remaining 55 years of your life will require even more money.
posted by saeculorum at 5:20 PM on July 1, 2009
Invest it all for retirement. Live life until then basically without having to worry at all about saving.
posted by Perplexity at 5:20 PM on July 1, 2009
posted by Perplexity at 5:20 PM on July 1, 2009
well if you are asking what I would do (ie not what I think you should do...)
I would invest half, use $10,000 to do some awesome traveling and use the rest to subsidize a 6 month break from work so I could focus writing (finishing) my novel.
posted by supermedusa at 5:20 PM on July 1, 2009
I would invest half, use $10,000 to do some awesome traveling and use the rest to subsidize a 6 month break from work so I could focus writing (finishing) my novel.
posted by supermedusa at 5:20 PM on July 1, 2009
This thread is closed to new comments.
But seriously, did you just come into 100 grand or are you just daydreaming?
posted by futureisunwritten at 5:17 PM on July 1, 2009