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

jack walsh13

Jack Walsh 13
BGOL Investor
you need to peep out the Investments thread man.
i wish i would have gotten in it sooner. i'd be a rich man by now.
Definitely gonna check it out. I wanna learn and get into it.

RwluKZ.jpg
 

Mo-Better

The R&B Master
OG Investor
This scam still floating around. :smh:

I got one from the Post Office like 2 years ago. Took it to a friend who worked there. First thing she asked,"you didn't try to cash this did you?" Whatever you do don't deposit that check. Confirm the check with the bank before you do anything.
 

Gazoo

The Big Brain
Registered
This scam still floating around. :smh:

I got one from the Post Office like 2 years ago. Took it to a friend who worked there. First thing she asked,"you didn't try to cash this did you?" Whatever you do don't deposit that check. Confirm the check with the bank before you do anything.

HAH! Thanks fam. It was from a wealthy relative
 

Madrox

Vaya Con Dio
BGOL Investor
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..

VTI is the total market (all caps), but would be a solid choice regardless

You're gonna want SPY/SPYG or VOO/VOOG for the just the S&P500
 

Madrox

Vaya Con Dio
BGOL Investor
I second index funds, specially those that a dividend driven. U get way more than any bank savings account, plus the added benefit if market goes up. If the market goes down don't touch it. Buy more.

ie. VIG..VYM
 

cincitystudios

Chopping it up
Registered
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?

 

Aww Skeet Skeet!

The antithesis of nonsense.
BGOL Investor
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?


I wouldn't get to hung up in the share price. Doesn't matter how many shares you get, if one is 113 and the other is 311... It's still $350 bucks. It's like investing a million dollars in Tesla @$400/share or Ford @$7/share... It's still a million bucks.

What I would worry about is performance (e.g. what return are you getting on your money) and how much are the fees.
 
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scullydog

Rising Star
Platinum Member
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?
I would buy me a cheap property and fix that bitch, and sell it before the end of the year. 2021 housing market will crash, but you would have your money and a nice return. And you can buy a cheap foreclosure in Jersey. You can get it for the taxes.
 

tallblacknyc

Rising Star
Certified Pussy Poster
Idk how good you are at sports betting but you in nj and I heard the meadowlands got a lot of money there as far as sports betting..great flips to
 

Gazoo

The Big Brain
Registered
I would buy me a cheap property and fix that bitch, and sell it before the end of the year. 2021 housing market will crash, but you would have your money and a nice return. And you can buy a cheap foreclosure in Jersey. You can get it for the taxes.

I have a good friend that's really into buying and selling real estate. In fact he just bought a mini "mansion" in Jersey for like $300K, but the value after fixing up is something like $700K-$800K. This may be a bet.
 

Gazoo

The Big Brain
Registered
Idk how good you are at sports betting but you in nj and I heard the meadowlands got a lot of money there as far as sports betting..great flips to

Don't do that to me fam. I'm sitting here in front of my laptop ready to register at one of those Jersey gambling sites now.
 

Gazoo

The Big Brain
Registered
Found this while doing research on short term CDs. Pretty cool instrument.

 

scullydog

Rising Star
Platinum Member
I have a good friend that's really into buying and selling real estate. In fact he just bought a mini "mansion" in Jersey for like $300K, but the value after fixing up is something like $700K-$800K. This may be a bet.
Bro., you have enough money to get an apartment building. Get the book Commercial Real Estate Investing for Dummies, by Peter Harris and Peter Conti. Bro., Harris is a brother like us and he has email and personal training to help you get started. Plus, he is on YouTube. There is money to be made because the time is about to explode on the Real Estate market. Deals will be had everywhere. A shit load of millionaires will be made and I hope I will be one of them. Join in too to create that generational wealth.
 

mailboxpimp

Rising Star
BGOL Patreon Investor
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?
id send me half, hire someone to help you catch up on all the back software requests you havent gotten too yet & invest the rest.
 

mailboxpimp

Rising Star
BGOL Patreon Investor

jackson35

Rising Star
Registered
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?
if you are serious... i can make you some offers
 

tallblacknyc

Rising Star
Certified Pussy Poster
Don't do that to me fam. I'm sitting here in front of my laptop ready to register at one of those Jersey gambling sites now.
I’m just saying 50 gs.. you could play with 1-3 maybe 5 gs if you nice at gambling.. gambling only a problem if you a loser.. but if your sport betting nice hey you can flip it quick... like I said if this was the start of the pandemic or even summer I would of gave you diff lil things you could of flipped your money into.. that 50,000 could’ve easily flipped into 6 figs in the taxfree world... even investing into bj’s warehouse stock could of got you some nice money.. stock was going to 25 a share and went up to 40 a share at 1 point..there was the liq hustle, the firework hustle.. etc
 

tebriel69

Rising Star
BGOL Investor
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.




I definitely follow “our rich journey”. They seem to got they stuff together. Like someone on here said, you can only listen to folks on a board so much. Always educate yourself first. This couple is great. The bogle head forums are great. Read books by John bogle (founder of Vanguard) and some books who follow his philosophy such as “the little book of smart investing”. You’re already on the right track that’s for sure.
 

Gazoo

The Big Brain
Registered
I definitely follow “our rich journey”. They seem to got they stuff together. Like someone on here said, you can only listen to folks on a board so much. Always educate yourself first. This couple is great. The bogle head forums are great. Read books by John bogle (founder of Vanguard) and some books who follow his philosophy such as “the little book of smart investing”. You’re already on the right track that’s for sure.

This looks interesting. Not sure how I missed. Appreciate you mayne.
 

Gazoo

The Big Brain
Registered
Why are you afraid to deposit 50k in the interim?

Mostly afraid of my wife whittling it away. We've already had a some minor disagreements.

Good advice I got from the board is to put it in a 3 month CD. I checked TD Baanks rates and at the end it'll have earned @ $1500. I can figure out long run plans while that sits.

Plus the skrip club just opened back up and I don't want to stuff too many draw strings.
 
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Helico-pterFunk

Rising Star
BGOL Legend
Good assortment of advice and suggestions. I’ve been talking to a coworker the past year who is 45’ish. Lost both her parents in recent years. They were 80. She is sitting on their house which is worth 1.2M. Wants to downsize to a condo or townhome. Been suggesting she start doing research online in the process. Noting if I were her, I’d probably pick up a 2 or 3 br, 2 bath and invest the rest. Also think about early retirement. She keeps thinking she will need to work until 65. Keep in mind she has no debt, no kids, and lives modestly. Been saying “let the money work for you” investment-wise for the longest. Build up her investment portfolio which needs help yet. Work until mid-late 50s instead and then
chill with a nice pension. She already has 20 yrs with the company.
 

Gazoo

The Big Brain
Registered
Good assortment of advice and suggestions. I’ve been talking to a coworker the past year who is 45’ish. Lost both her parents in recent years. They were 80. She is sitting on their house which is worth 1.2M. Wants to downsize to a condo or townhome. Been suggesting she start doing research online in the process. Noting if I were her, I’d probably pick up a 2 or 3 br, 2 bath and invest the rest. Also think about early retirement. She keeps thinking she will need to work until 65. Keep in mind she has no debt, no kids, and lives modestly. Been saying “let the money work for you” investment-wise for the longest. Build up her investment portfolio which needs help yet. Work until mid-late 50s instead and then
chill with a nice pension. She already has 20 yrs with the company.

Sounds like she's sitting on gold. If she's 45 and as frugal as she sounds she probably already has a nice 401K and other little nest eggs. I don't know a whole lot about the legal side of inheriting property. I'm assuming that since it was her parents it's tax free? I'm also assuming the mortgage is paid. She sounds like that type. Plus twenty years in with her company. Damn!!!

At 45 or so she can even be a little risky with some of the proceeds. I wonder what's got her so cautious.

Sounds like she could be in play @Helico-pterFunk ...she off limits to you?
 
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