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What to do with 80k+ in bank account?


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 What to do with 80k+ in bank account?
 12-24-2012, 10:21 PMaway - #21
lowkeykiller 2 heat pts

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gimme like 20 thou, i promise to pay 5 back by 2015, the rest by 2020
 12-24-2012, 10:22 PMaway - #22
Grave 2 heat pts

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Best advice i can give you is to not ask that here unless you are just trying to get some kicks
 12-26-2012, 08:38 AMaway - #23
ProfitSee 352 heat pts352

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You don't actually have 80 bands do you? You're just asking for when you do have that much right?
If you had that amount 1) you wouldn't ask bums on this site about what to do with it 2) you would already have an idea of what to do with that much $

As someone already mentioned, join a financial msg board
 12-26-2012, 01:36 PMaway - #24
egotistical 1 heat pts

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If you REALLY had 80k in your bank account you would probably already know what to do with it.
 12-26-2012, 01:37 PMaway - #25
A-L-P 5 heat pts

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OP, check out getrichslowly.com, they have a financial forum on there. I've gotten alot of great insight from posters on that site.
 12-30-2012, 11:16 PMaway - #26
253xLonghair3 7 heat pts

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I HAVE 8K and dont know what to do with it besides buy a car
 12-30-2012, 11:57 PMonline - #27
Gmengfx 55 heat pts55

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wow would be nice to have 80k in the bank right now...
 12-30-2012, 11:58 PMonline - #28
Gmengfx 55 heat pts55

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Originally Posted by 253xLonghair3
I HAVE 8K and dont know what to do with it besides buy a car
right..i got like 16k and am way to scared to move it and fux with it

its real easy for broke people to say what to do with "YOUR" money..

but its so true

scarred money dont make no money....

so so true
 12-31-2012, 12:53 AMaway - #29
2nd2none 

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Originally Posted by egotistical
If you REALLY had 80k in your bank account you would probably already know what to do with it.
this


and if you didn't do whatever you did to get it in there over again
 12-31-2012, 08:40 AMaway - #30
BtMkRs 12 heat pts12

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Pay off ALL bills.
Put away a Year or your income . Start with 3 months and keep adding
Go to Fidelity and get yourself a Mutual Fund.

if you really dont know what to do with 80k...

Buy this book - The Total Money Makeover by Dave Ramsey
this will set you straight
 12-31-2012, 01:19 PMaway - #31
THERETURNOFK2Z 2 heat pts

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good job man i only got like 30k ..

Not many good financial advisers will spend a lot of time with you with only 80 k but this is what i would do...

This is a a$suming you have a moderate aversion to risk

1. Payoff any UN-secured (no collateral) debt with high interest rates... do not pay off all of your bills unless they are high interest or high risk...
(i.e If you have a loan with a 6% apr for 20,000 you would pay $1,200 interest year 1, if you pay off that loan you have now gained $1,200 a year for the life of that loan...

However, if you invest and that 20% buying a website business or through investments etc.. at lets say a 15% return per year thats $3000 year.. net - the loan $1,800. This is why the rich take out loans


2. Get a 401k(if you don't have one
3. I would take half out that and buy low risk us treasury bonds and mutual funds.. i would leave 4. 25k in a cash money market account.
5. I would take the remaining 7.5 k and use it to either buy some websites on something like Flippa.com and apps on sellmyapplication.com .
6. I would use the remaining 7.5 k to invest in mutual funds for income that pay out interest monthly, and reinvest monthly.

Last edited by THERETURNOFK2Z; 12-31-2012 at 01:28 PM..
 12-31-2012, 01:35 PMaway - #32
SpittN4Cash 11 heat pts11

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invest in a high interest bearing IRA that compounds annually, duh
 12-31-2012, 09:17 PMaway - #33
Ghettoquiz 8 heat pts

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Gold. Silver. Food. Guns. Bullets.
 01-01-2013, 10:59 PMaway - #34
Ars3n 9 heat pts

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10 Common Characteristics of Millionaires

"There is no millionaire out there that does not know how to reinvest his money. They all know that the secret to wealth is not to work for money, but rather to have money work for you...."
 01-02-2013, 01:27 PMaway - #35
GetuOne 73 heat pts73

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40k- Mutual Funds, split evenly between high,med, low risk accounts.
5k- Max out your IRA contributions for the year and continue to max out every year.
15k- Throw in the stock Market
20k- Leave in a high interest Money Market Account, like a credit union.

I want 80k
 01-02-2013, 03:36 PMaway - #36
poppapimple 6 heat pts

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does your girl have a brother start supporting him
 01-02-2013, 04:20 PMaway - #37
Brolic757 7 heat pts

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Take $4000 grand of that 80k and buy 400 scratch lottery tickets the ones where you could win 200,000 grand. That way you have to win something and u r doubling your profit
 01-02-2013, 04:26 PMaway - #38
Duntaz 19 heat pts19

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 01-02-2013, 07:16 PMonline - #39
TKO420 

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Originally Posted by Ghettoquiz
Gold. Silver. Food. Guns. Bullets.
Yuuuuuuuup!
 01-02-2013, 08:07 PMaway - #40
hockeythug 55 heat pts55

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Originally Posted by Brolic757
Take $4000 grand of that 80k and buy 400 scratch lottery tickets the ones where you could win 200,000 grand. That way you have to win something and u r doubling your profit
brillant idea
 

 



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