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

[Helico-pterFunk]

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?

Her RRSP (Canadian 401k) is light as she travelled lots the past 20 yrs. otherwise frugal. Not sure re: tax on inheritance w/ property. House is long paid-off. She would be a great catch, though she is married. Husband lives in the States for work. They don’t seem particularly close. She is fine though. Looks better at 45 than she did at 30. Our core work group has been together a long time. Everyone’s been there 10-20 years. Next spring will mark 17 years for me.

 

[Gazoo]

Her RRSP (Canadian 401k) is light as she travelled lots the past 20 yrs. otherwise frugal. Not sure re: tax on inheritance w/ property. House is long paid-off. She would be a great catch, though she is married. Husband lives in the States for work. They don’t seem particularly close. She is fine though. Looks better at 45 than she did at 30. Our core work group has been together a long time. Everyone’s been there 10-20 years. Next spring will mark 17 years for me.

Damn, even the way you post makes you seem stable. Guess my instincts were right. Good for you bro. You in for the duration huh?

I thought she was single. That makes her a better catch for me as I love married women. Forgive me Lawd.

Well if she really wants some financial advice tell her to join BGOL and post a thread. With a picture of her fine ass.

 

[Helico-pterFunk]

Damn, even the way you post makes you seem stable. Guess my instincts were right. Good for you bro. You in for the duration huh?

I thought she was single. That makes her a better catch for me as I love married women. Forgive me Lawd.

Well if she really wants some financial advice tell her to join BGOL and post a thread. With a picture of her fine ass.

Thanks. Yeah - it’s a good organization and union. In it for the long haul as there haven’t been any major red flags over the years. Company has grown over time. Staffing and clientele are content. Lol @ the married women line! If she was single over the years, def’ would have shot my shot. Lives clean. Legs and ass on point. Perky titties. Plus she’s financially stable? Damn. She’s wifey material, haha. Lol @ her posting a thread with picture!

 

[gene cisco]

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

Well damn, this advice aged extremely well. Money would really have doubled.

 

[Gazoo]

Well damn, this advice aged extremely well. Money would really have doubled.

I'm not a stocks man bro. I'm thinking of retiring soon and have been playing it ultra conservative.

Brief me on what happened with NIO. I quickly looked and it went down today. What was it two months ago and what is it today?

 

[Helico-pterFunk]

Got the pandemic pay adjustment ($4 per hour worked) for mid-March to early-July on Dec. 24th. They taxed the fuck out of it, but it was still a bit of extra money. I'll put it towards my RRSP contribution (or TFSA account) within the next month or so. Not getting enough returns on the TFSA account, so I'll probably add it to the RRSP contribution. That portfolio has been doing better in recent months.

 

[Gazoo]

Got the pandemic pay adjustment ($4 per hour worked) for mid-March to early-July on Dec. 24th. They taxed the fuck out of it, but it was still a bit of extra money. I'll put it towards my RRSP contribution (or TFSA account) within the next month or so. Not getting enough returns on the TFSA account, so I'll probably add it to the RRSP contribution. That portfolio has been doing better in recent months.

Nice! Were you expecting that back pay? My job just gave us a small ass bonus. I took it though.

 

[Helico-pterFunk]

Nice! Were you expecting that back pay? My job just gave us a small ass bonus. I took it though.

Thanks. Yes - they had talked about it a number of times earlier in the year. Delays and hold-ups along the way across the different unions & total number of workers. Essential services. I give credit to the executive director. He kept everyone informed along the way with emails & memos. Explaining they (our organization) wanted to distribute the funds to all staffing as soon as possible. Updated us recently that he's on conference calls on a regular basis with other agencies & health authorities re: safety protocols. He's an open book & I respect that. Taxes out on the westcoast are a MF, so we knew we'd get hit.

Props on getting your bonus as well.

 

[Rudey]

I'm not a stocks man bro. I'm thinking of retiring soon and have been playing it ultra conservative.

Brief me on what happened with NIO. I quickly looked and it went down today. What was it two months ago and what is it today?

If you did take the advice on Oct 30, 2020 and buy at the low, 1500 shares would have cost you about $45,045.
If you sell all your shares at the all-time high on Jan 11, 2021 you would have had a capital gain of $55,440.

 

[Helico-pterFunk]

Any recent update(s), @Gazoo ?

 

[Gazoo]

Any recent update(s), @Gazoo ?

Wassup @Helico-pterFunk. ...nothing really man. Playing it pretty conservative with some Roth and CD's. I'm a little chicken shit at this stage in my life. Getting old and considering retiring due to health issues. So I will probably miss on some good investments due to the risks. I might consider another business.

 

[Helico-pterFunk]

Wassup @Helico-pterFunk. ...nothing really man. Playing it pretty conservative with some Roth and CD's. I'm a little chicken shit at this stage in my life. Getting old and considering retiring due to health issues. So I will probably miss on some good investments due to the risks. I might consider another business.

Thanks for the update. Yeah - just play it safe and smart. Whatever makes most sense for you, as everyone has different retirement and investment strategies. I remember being really pissed off back in the spring with the portfolio losses with my mutual funds. The losses were substantial and I was ready to start moving money around in a WTF panic. But in recent months things are back in order. Recovery and gains and the interest on the year was better than the previous 4-5 years. In a year of concern, it was welcomed. Made me more confident in making a better contribution ahead. Some years I was just playing it safe and adding a small amount. But I hope to add 2 - 2.5 times what I added some of those lesser years. Plus it’s a nice way to lower taxable income, and just re-invest the refund $ thereafter.

 

[Gazoo]

Thanks for the update. Yeah - just play it safe and smart. Whatever makes most sense for you, as everyone has different retirement and investment strategies. I remember being really pissed off back in the spring with the portfolio losses with my mutual funds. The losses were substantial and I was ready to start moving money around in a WTF panic. But in recent months things are back in order. Recovery and gains and the interest on the year was better than the previous 4-5 years. In a year of concern, it was welcomed. Made me more confident in making a better contribution ahead. Some years I was just playing it safe and adding a small amount. But I hope to add 2 - 2.5 times what I added some of those lesser years. Plus it’s a nice way to lower taxable income, and just re-invest the refund $ thereafter.

In my younger days I actually worked for Merrill Lynch and went through Series 7 training. If time is on your side, definitely go for mutual funds and stocks. In today's money world there are so many options. There are sites where you can just invest a dollar amount in stocks and not have to buy them by the share. The basic rules are to diversify from conservative up to high risk/reward. However, always always keep a strong stash put aside. I don't know your age but definitely invest in your self via savings and training and then investments. From how you represent yourself I figure you know all of this already, but if anyone else is listening maybe they'll take a tip.

In regards to my windfall, my general rule has always been to continue acting as if nothing happened. Put the money away in whatever manner of savings or investments and forget about it.

Just a side note to real estate enthusiasts. Real estate is not always a guarantee. A $400K house in Jersey will cost you @$10K a year in taxes in Jersey. In 30 years of mortgage you'll spend about $800K on the mortgage alone. In 30 years you'll spend $300K or more in taxes. None of this includes other monthly expenses such as heating, garbage and water. It also doesn't include repairs (roofing, heaters, etc.). So this $400K house will cost you $1.2M. Will you get that back? You have to make sure it benefits you financially in taxes and appreciation and possible in selling someday. Not trying to talk people out of real estate but it's not a guarantee.

 

[Rudey]

Just a side note to real estate enthusiasts. Real estate is not always a guarantee. A $400K house in Jersey will cost you @$10K a year in taxes in Jersey. In 30 years of mortgage you'll spend about $800K on the mortgage alone. In 30 years you'll spend $300K or more in taxes. None of this includes other monthly expenses such as heating, garbage and water. It also doesn't include repairs (roofing, heaters, etc.). So this $400K house will cost you $1.2M. Will you get that back? You have to make sure it benefits you financially in taxes and appreciation and possible in selling someday. Not trying to talk people out of real estate but it's not a guarantee.

Yes, but what would the house worth in 30 years?

 

[Gazoo]

Yes, but what would the house worth in 30 years?

Depends on the area, but it'll have to be a bunch more than $1.2M. Not knocking real estate, just have be smart. We hear those great stories of a house being bought for $140K and selling for $400K in 18 years. Probably happened in the 90s and early 2000s.

I bought a huge amount of property in North Carolina. Eventually the neighborhood went bad and got congested. I didn't even get the back the money I put into it after I sold it. Almost the same thing happened in Central Jersey. The house appreciated, but not significantly. My last house sold in Central Jersey a year ago. Again it appreciated but not significantly. I'm trying to be P.C. but a lot of "illegals" moved into the neighborhood and the house lost its marketability.

 

[oolong tea]

HAH! Thanks fam. It was from a wealthy relative

You need TO ASK THAT RELATIVE.

If you have patience, put a third in Tesla stock,divvy up another third in tax liens and take a little to educate yourself on those investment instruments as you should have in the past. Upgrade your crib on your CASH BACK credit card and reappraise it later.

 

[The Plutonian]

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..

This. Or half I’d dump in Tesla alone and other half ETFs. You’ll earn greater than at least 6-8 percent overall in my opinion. Maybe more.

 

[Helico-pterFunk]

In my younger days I actually worked for Merrill Lynch and went through Series 7 training. If time is on your side, definitely go for mutual funds and stocks. In today's money world there are so many options. There are sites where you can just invest a dollar amount in stocks and not have to buy them by the share. The basic rules are to diversify from conservative up to high risk/reward. However, always always keep a strong stash put aside. I don't know your age but definitely invest in your self via savings and training and then investments. From how you represent yourself I figure you know all of this already, but if anyone else is listening maybe they'll take a tip.

In regards to my windfall, my general rule has always been to continue acting as if nothing happened. Put the money away in whatever manner of savings or investments and forget about it.

Just a side note to real estate enthusiasts. Real estate is not always a guarantee. A $400K house in Jersey will cost you @$10K a year in taxes in Jersey. In 30 years of mortgage you'll spend about $800K on the mortgage alone. In 30 years you'll spend $300K or more in taxes. None of this includes other monthly expenses such as heating, garbage and water. It also doesn't include repairs (roofing, heaters, etc.). So this $400K house will cost you $1.2M. Will you get that back? You have to make sure it benefits you financially in taxes and appreciation and possible in selling someday. Not trying to talk people out of real estate but it's not a guarantee.

Agreed. Well said.

Props on your past experience with Merrill Lynch & Series 7. It's all about diversification for sure. Also making sure not to tie up things too long - as you noted with "keep a strong stash put aside". Have funds available - especially in a year like we just had with so much uncertainty the world over.

I keep a little bit in chequing to pay bills ... a good amount in savings (more when the "high interest" return was better) ... more in GICs & RRSP portfolio mutual funds. Been building the RRSP for just over 20 years. Good pension plan through work as well - aim to retire in about 20 years. Hopefully sooner.

In regards to real estate ... yes ... definitely do your research. Always look at stats & comps. Availability to grocery, shopping, schools, public & rapid transit. Things that will help boost your property value over time. Bought in the spring of 2009 and the place had more than doubled in "assessed value" in 10 years. It has dropped 5 - 6% the past few years, but that's fine as the gains in value were over the top in the years prior to that. Gains that wouldn't last long-term. Like you said - keep an eye on those big costs & bills. They can add up. My brother lives in a much colder climate & pays substantially more in hydro. Also has needed to upgrade roof, windows, and furnace sooner. Older property and all. Annual utilties and property taxes definitely add up (speaking for ourselves). It's all about living within your means & knowing when the big bills (or investments) are coming. I know the first half of the year is when $ is being spent. 2nd half is better & way better time to save. First half of the year ... Jan / Feb = RRSP and TFSA contributions. Feb = annual utilities. April = home insurance. May = car insurance. June = property taxes.

 

[The Plutonian]

He must be traveling cause he ain't getting a few keys in the US for 50k

yea, go buy at the sources. Mexico, Columbia

 

[oolong tea]

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

Lay some game on one of those tender's and let you hold something. Invest it well for her and all those broads will break bread with you.

 

[The Plutonian]

Wassup @Helico-pterFunk. ...nothing really man. Playing it pretty conservative with some Roth and CD's. I'm a little chicken shit at this stage in my life. Getting old and considering retiring due to health issues. So I will probably miss on some good investments due to the risks. I might consider another business.

Bro, jump on Robinhood app and buy slivers of NIO/Tesla/Plug to start you off. You get a free stock for joining! May get Apple or Microsoft just for joining! That’s worth a few hundred dollars itself! You don’t pay transaction fees and you can learn it easily. You don’t need a ton of money to start. $50 a month! Check investment thread for info. I understand the hesitation but like @Coldchi said I’d be rich by now if I did this earlier. Thing with me is I don’t have to work again if I don’t want to so I’m working this for my son. I don’t need nothing, I’m good. Can always grow the income I got though and pick up another residual income.

 

[FUCKYOU]

Bro, jump on Robinhood app and buy slivers of NIO/Tesla/Plug to start you off. You get a free stock for joining! May get Apple or Microsoft just for joining! That’s worth a few hundred dollars itself! You don’t pay transaction fees and you can learn it easily. You don’t need a ton of money to start. $50 a month! Check investment thread for info. I understand the hesitation but like @Coldchi said I’d be rich by now if I did this earlier. Thing with me is I don’t have to work again if I don’t want to so I’m working this for my son. I don’t need nothing, I’m good. Can always grow the income I got though and pick up another residual income.

facts! I own NIO and plug

 

[Helico-pterFunk]

Thing with me is I don’t have to work again if I don’t want to so I’m working this for my son. I don’t need nothing, I’m good. Can always grow the income I got though and pick up another residual income.

 

[The Plutonian]

facts! I own NIO and plug

Plug doing it’s thang man! It’s gonna hit $85 by end of year!

 

[Coldchi]

Bro, jump on Robinhood app and buy slivers of NIO/Tesla/Plug to start you off. You get a free stock for joining! May get Apple or Microsoft just for joining! That’s worth a few hundred dollars itself! You don’t pay transaction fees and you can learn it easily. You don’t need a ton of money to start. $50 a month! Check investment thread for info. I understand the hesitation but like @Coldchi said I’d be rich by now if I did this earlier. Thing with me is I don’t have to work again if I don’t want to so I’m working this for my son. I don’t need nothing, I’m good. Can always grow the income I got though and pick up another residual income.

crazy thing is.............had he invested that $50k in NIO back in October.....he'd have $100k right now.....lol.
that was a guaranteed play. i bought in at $13, and sold in late November at $55.....but i was too damn conservative.
i only bought 120 shares, when i should have bought around 300-500. i'd rather invest in stock than in real estate right now.
cuz my profits come daily with minimal risks.....and at the same time,....i'm helping other people here make money as well.

 

[Mrfreddygoodbud]

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?

Buy 1 bit coin..

Some ethereum..about 10 geez worth

Buy silver coins with the rest

 

[An RnB Thug]

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?

You would've listened to me you could've had 1.4 Million from a 50k investment

 

[Venom]

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

Sportsbetting tough. Hard to pick at 60%

 

[prose00]

High yield savings account

Can yall recommend the best or highest yeilding ones??

 

[RUDY RAYYY MO]

Can yall recommend the best or highest yeilding ones??

Nevermind interest rates are low, invest in mutual funds

 

[gene cisco]

Depends on the area, but it'll have to be a bunch more than $1.2M. Not knocking real estate, just have be smart. We hear those great stories of a house being bought for $140K and selling for $400K in 18 years. Probably happened in the 90s and early 2000s.

I bought a huge amount of property in North Carolina. Eventually the neighborhood went bad and got congested. I didn't even get the back the money I put into it after I sold it. Almost the same thing happened in Central Jersey. The house appreciated, but not significantly. My last house sold in Central Jersey a year ago. Again it appreciated but not significantly. I'm trying to be P.C. but a lot of "illegals" moved into the neighborhood and the house lost its marketability.

Well, the people who don't take 'p.c.' into consideration when dealing with property will lose. In NE Ohio, it's watching the white folks. Where are they moving? Where are they moving from? A person will lose value big time if they don't follow those trends. And even though we aren't supposed to be counting our primary home as an asset, an owner don't want to be caught with their pants down when trying to upgrade or just move period. Put all that time and money in only to see property not appreciate or lose value.

Naturally, if you rent out homes it's different, but prices are fucking insane now. In some of these quasi-hoods up here, they asking damn near 90-100k in Ohio prices for homes. These are homes that were just 50k in 2019. Yeah, they can be rented out for 1000+(Probably higher now), but still. Don't want to be caught in a 2007 session. That's the last time prices were this high in NE Ohio and we know what happened next.

I still think real estate will be the play in 2022 once stocks and crypto cool down. Just have to be careful. The country/economy will have to pay for this COVID/Money printing, so folks need to be prepared and park cash in some assets. Middle class is going to be priced the fuck out.

 

[Gazoo]

Well, the people who don't take 'p.c.' into consideration when dealing with property will lose. In NE Ohio, it's watching the white folks. Where are they moving? Where are they moving from? A person will lose value big time if they don't follow those trends. And even though we aren't supposed to be counting our primary home as an asset, an owner don't want to be caught with their pants down when trying to upgrade or just move period. Put all that time and money in only to see property not appreciate or lose value.

Naturally, if you rent out homes it's different, but prices are fucking insane now. In some of these quasi-hoods up here, they asking damn near 90-100k in Ohio prices for homes. These are homes that were just 50k in 2019. Yeah, they can be rented out for 1000+(Probably higher now), but still. Don't want to be caught in a 2007 session. That's the last time prices were this high in NE Ohio and we know what happened next.

I still think real estate will be the play in 2022 once stocks and crypto cool down. Just have to be careful. The country/economy will have to pay for this COVID/Money printing, so folks need to be prepared and park cash in some assets. Middle class is going to be priced the fuck out.

There's a price to pay for this stimulus money. The national debt is pretty much irreparable.

 

[Aww Skeet Skeet!]

$50k. $BTC, $NIO, CDs... It's already been said, but it depends on your risk tolerance and your goals for said money.

As the saying goes, only invest what you can stomach to lose. The stock market has been on a nice bull run...will that continue? I hope like hell it does, but I can't predict the future. If you want to invest but don't want to micro manage your Brokerage or deal with day-to-day volatility, by all means invest in low fee ETFs, MFs, index funds for instant diversification and practice dollar cost averaging.

"Scared money don't make [a lot] of money". But your initial outlay would be intact. Full disclosure: I'm leaning to be all-in in the market...ETFs and MFs. But will splurge for quick come ups. All with the goal to make money in the long run.