Just Received a Cashiers Check For $50K. I Have a Few Questions For Y'all Big Brains

[Gazoo]

Finally some good happened this year me. Life's been a major bitch. Taxes are actually already paid on this so the $50K is $50K.

My current decision is to just hold off depositing it until the new year. Just to kind of get my mind straight. My wife and I are in a pretty stable situation financially. I work for a major communications company in Network Support and my wife works for a pharmaceutical company (this is Jersey after all). Not wealthy by any means, but stable. That's says a lot for Central Jersey where property taxes for the average home in our area are $10K to $14K.

I would definitely invest more aggressively later next year perhaps after the summer. But for now I just want to put it somewhere to gain some decent interest. Interestingly, I use to work for an investment firm, but that was over twenty years ago and I didn't work in a investment department, I was in systems. But I know shit about investments today.

Honestly, I'd like to go and play poker in Vegas. I can't be beat. Definitely ain't paying tithes to a church to make my faithful wife happy. Fuck that!

Questions:

1. What would you do?

2. Are banks still doing CDs?

 

[xfactor]

Determine what you want your ROI to be first then you can decide options on what to do with it.

 

[ronmch20]

 

[jack walsh13]

Finally some good happened this year me. Life's been a major bitch. Taxes are actually already paid on this so the $50K is $50K.

My current decision is to just hold off depositing it until the new year. Just to kind of get my mind straight. My wife and I are in a pretty stable situation financially. I work for a major communications company in Network Support and my wife works for a pharmaceutical company (this is Jersey after all). Not wealthy by any means, but stable. That's says a lot for Central Jersey where property taxes for the average home in our area are $10K to $14K.

I would definitely invest more aggressively later next year perhaps after the summer. But for now I just want to put it somewhere to gain some decent interest. Interestingly, I use to work for an investment firm, but that was over twenty years ago and I didn't work in a investment department, I was in systems. But I know shit about investments today.

Honestly, I'd like to go and play poker in Vegas. I can't be beat. Definitely ain't paying tithes to a church to make my faithful wife happy. Fuck that!

Questions:

1. What would you do?

2. Are banks still doing CDs?

Your right. Property taxes here are a bitch!!

 

[doe moe]

Worst thing you can do is hold on the check.

Put it in a CD (short term) at least earn some interest off that loot.

I realize banks are not paying much but something is better than nothing plus no fear if something happens to the check then you have to through the steps to replace.

 

[trstar]

Kill your debt.

 

[tekwehuself]

Buy some hoes and a few keys of coke.

 

[FUCKYOU]

With $50k I would buy safe ETF's and sit on it... VTI mimics the s&p 500... buy vti and cash out in 10 years..

 

[RUDY RAYYY MO]

High yield savings account

 

[kain]

Speak to an financial advisor

 

[Amajorfucup]

My current decision is to just hold off depositing it until the new year.

Anything but this!

Put it in a 90 day CD if you're indecisive and just want a place holder. You'll get a couple hundred bucks and by end of January should know what you wanna do long term .

 

[BDR]

Pass that shit to me I will find something to do with it

 

[FUCKYOU]

High yield savings account

i co-sign this.. ask your credit union about opening a money market savings account

 

[papi68]

When you deposit the check depends on your tax situation. Speak to your tax professional. If you need one, I’ll hook you up with mine. North/central NJ. Young brother, very thorough.

 

[FUCKYOU]

Speak to an financial advisor

its just 50k that aint real money

 

[FUCKYOU]

When you deposit the check depends on your tax situation. Speak to your tax professional. If you need one, I’ll hook you up with mine. North/central NJ. Young brother, very thorough.

I need to cash $15k profit from a hard cash loan... I know im going to get fucked in taxes.. Someone suggested opening an Scorp and paying myself small checks through out the year to avoid getting hit hard on taxes.. any thoughts?

 

[tekwehuself]

I need to cash $15k profit from a hard cash loan... I know im going to get fucked in taxes.. Someone suggested opening an Scorp and paying myself small checks through out the year to avoid getting hit hard on taxes.. any thoughts?

Why are you worried. It's only $15,000. That ain't real money

 

[FUCKYOU]

Why are you worried. It's only $15,000. That ain't real money

It aint! that is why I wont hire a financial advisor... Scorp or getting it in cash are my options.. Just curious to hear others in the thread.

 

[Coldchi]

Buy 1,500 shares of NIO.
That $50k will be $65k in a week and $100k by Christmas

 

[lightbright]

 

[TooTrilla]

Niggas on BGOL always talking about investing. Man cash that check, go ham on Black Friday, and have a Merry Xmas.

 

[cold-n-cocky]

Put in a credit union that NCUA insured (CU equivalent to FDIC) for now until you come up with a plan. Resist all “advisors” who want you to put your money in high-fees funds, front-loaded fund and funds with high AUM charges; they’ll happily take your money and kill your long term returns.

 

[Eclipse99]

Buy at least one bitcoin and start a Fanduel sportsbook account.... thank me later

 

[YoungSinister]

Don’t take any advice from someone who’s net worth is not where you want to be
You’d be a fool to listen to some of these cats

 

[Coldchi]

Niggas on BGOL always talking about investing. Man cash that check, go ham on Black Friday, and have a Merry Xmas.

I was a skeptic too until I started investing this year.
The returns are well fuckin worth it.

 

[Give Me 3ft.]

Speak to an financial advisor

this, not bgol financial advisors!

 

[doe moe]

With $50k I would buy safe ETF's and sit on it... VTI mimics the s&p 500... buy vti and cash out in 10 years..

Fam, got a question for you. I got money in Vanguards index fund that tracks S&P 500. (VFIAX) I put $350 a month into this index fund. Shares over the last 6 months bounce between $268 and $311 depending on the market.

There are other Index Funds (Fidelity FXAIX ) just to name a different one that also tracks S&P 500. Currently one share is around $113.

So here is my question, could I earn more money faster by putting money in a fund that will allow me to purchase more shares with each deposit?

If I use $350 to buy shares at $113 then I get 3.09 shares.

If I use $350 to buy shares at $311 then I get 1.12 shares.

It's like I'm getting less shares for the same $350 if I stick with Vanguard.

Other than a well performing market, doesn't it matter assuming one fund holds more shares as a collective than the other?

VFIAX holds 157.5 Billion in assets.

FXAIX holds 252.1 Billion in assets.

My index fund account is setup as a person account. I've got another index fund used for my ROTH IRA that is in a mix of 50/50 stocks and bonds.

My third index fund is with a small cap fund.

Also have 401K through the job, I contributes 12% of my salary, jobs adds 4%

What say you?

 

[Give Me 3ft.]

Buy 1,500 shares of NIO.
That $50k will be $65k in a week and $100k by Christmas

Chinese electric car company.....

meh..... post your investment into this!

 

[Give Me 3ft.]

Fam, got a question for you. I got money in Vanguards index fund that tracks S&P 500. (VFIAX) I put $350 a month into this index fund. Shares over the last 6 months bounce between $268 and $311 depending on the market.

There are other Index Funds (Fidelity FXAIX ) just to name a different one that also tracks S&P 500. Currently one share is around $113.

So here is my question, could I earn more money faster by putting money in a fund that will allow me to purchase more shares with each deposit?

If I use $350 to buy shares at $113 then I get 3.09 shares.

If I use $350 to buy shares at $311 then I get 1.12 shares.

It's like I'm getting less shares for the same $350 if I stick with Vanguard.

Other than a well performing market, doesn't it matter assuming one fund holds more shares as a collective than the other?

VFIAX holds 157.5 Billion in assets.

FXAIX holds 252.1 Billion in assets.

My index fund account is setup as a person account. I've got another index fund used for my ROTH IRA that is in a mix of 50/50 stocks and bonds.

My third index fund is with a small cap fund.

Also have 401K through the job, I contributes 12% of my salary, jobs adds 4%

What say you?

At least listen to people who are doing it.

Not that they are non fallible, but at least

you can see their face and follow their

Tracks. these dudes on bgol are just a

Screen name.

 

[Gazoo]

Kill your debt.

That's always good advice. It's almost like earning 20% or more when you pay off credit cards. Fortunately we have few debts.

 

[Gazoo]

Buy at least one bitcoin and start a Fanduel sportsbook account.... thank me later

Bro don't tempt me. Told the wife I could quadruple the money playing poker live or online. Don't know shit about bitcoin though.

 

[Gazoo]

Pass that shit to me I will find something to do with it

Okay, post your name and address.

 

[Gazoo]

its just 50k that aint real money

I've been poor most of my life and had occasional real money problems. $50K is like a million dollars to me.

 

[Gazoo]

HMMM.... conflicting opinions on FCs. Probably a must to at least talk with one.

With $50k I would buy safe ETF's and sit on it... VTI mimics the s&p 500... buy vti and cash out in 10 years..

Put in a credit union that NCUA insured (CU equivalent to FDIC) for now until you come up with a plan. Resist all “advisors” who want you to put your money in high-fees funds, front-loaded fund and funds with high AUM charges; they’ll happily take your money and kill your long term returns.

 

[Gazoo]

way over my head.

Fam, got a question for you. I got money in Vanguards index fund that tracks S&P 500. (VFIAX) I put $350 a month into this index fund. Shares over the last 6 months bounce between $268 and $311 depending on the market.

There are other Index Funds (Fidelity FXAIX ) just to name a different one that also tracks S&P 500. Currently one share is around $113.

So here is my question, could I earn more money faster by putting money in a fund that will allow me to purchase more shares with each deposit?

If I use $350 to buy shares at $113 then I get 3.09 shares.

If I use $350 to buy shares at $311 then I get 1.12 shares.

It's like I'm getting less shares for the same $350 if I stick with Vanguard.

Other than a well performing market, doesn't it matter assuming one fund holds more shares as a collective than the other?

VFIAX holds 157.5 Billion in assets.

FXAIX holds 252.1 Billion in assets.

My index fund account is setup as a person account. I've got another index fund used for my ROTH IRA that is in a mix of 50/50 stocks and bonds.

My third index fund is with a small cap fund.

Also have 401K through the job, I contributes 12% of my salary, jobs adds 4%

What say you?