Get Some to Make Some...

[StainlessDeal 16]

After reading some recent discussions here and elsewhere that pertain to the subject, I've concluded that we all don't share the same view of what wealth is. We don't even share a common idea of how to use the money we do get from our efforts.

In an attempt to understand better what our perspectives are, I have a poll for your consideration. This can be an opportunity to exchange useful ideas and concepts, even philosophies, or it can be a more prosaic opportunity. Perhaps a chance to explain what we mean when we use terms like: Wealth, real money, or investment.

just so that this isn't a tired old, "What would you do if you won the lottery...?" question, I'll set some easy parameters:

The amount of money in hand is $100,000. I like this figure because it is a lot of money, but not riches, that is, it could easily run out in short order. The $100,000 comes after you settle your creditcard/medical/dental/gambling/whatever debt. We all know we'd like to be close to debt free, and at least have a manageable, low-risk mortgage.

What do you do with the hundred grand you have in hand, to spend as you will?

I'm leaving this public, but multiple choice. Please don't be shy, let's hear what we think we should do with our money.

[StainlessDeal 16]

I'm not going to be able to read this until tomorrow evening late (if then) so I won't be able to defend this position until after that.

I have to admit that now that this poll is up, my own answer is pretty pedestrian.

I'd fully fund the IRA and the 401k, mostly because the 401 is my wife's and we can get a solid contribution from the company match. That adds up to a strong raise each year.

I know I wouldn't be able to resist some equipment spending. Update some software, a higher volume pump in a more solid rig jump right to mind after a string of failures by both.

I think I'd refinance the house to make more money available to invest elsewhere. Interest rates and costs would have to make good sense though. It would be nice to have a mortgage payment like my father's, and have the spare bucks to use elsewhere.

I'm also sure there would be some jewls and precious metals bought. Call it an investment in my happiness through spousal pleasing. lol

I'm not sure I'm in the right mind to answer full yet... let me get back tomorrow with a more detailed answer.

Any genius money guys want to do better, it won't be difficult.:)

Let's hear somebody that knows this stuff a little better give a few ideas.:lgmoneyey

On edit, I know I'm foolin' nobody: There would surely be a new, old bike in my near future. Think of the money saved on psychiatry and heart-medications alone!lol

[MMI Enterprises 289]

Scott yer no fun..you left out all the fun sins of life like wallowing in ***, drugs, and rock'n roll or buying Harley's and sports cars.

What about African safari's or sportsman trips to Alaska, NewZealand, or Chile? Maybe pigs on a spit with hula girls running about could be fit in as well.

[FCPWLLC 233]

3 words..... Location, Location, Location

Already got the Harley......

[Babyjon 14]

Get out of debt move to the country raise goats

[FullBlast 14]

I say move to the country. Where is that?? Back to the Bluegrass State!!!

Invest in Real Estate.

[DAVID V 22]

Half on down payment for a home. I'd do the IRA thing for my wife

and myself. A getaway trip for wifey and me. 25 G's for Visa IPO

in early 08. What ever is left save for a rainy day. (nickel and dime

it to death.)LOL