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What to do with 80k+ in bank account?

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 What to do with 80k+ in bank account?
Unread 2 years agoclass of '11 - away - #21
lowkeykiller 2 heat pts space
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gimme like 20 thou, i promise to pay 5 back by 2015, the rest by 2020
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Unread 2 years agoclass of '07 - away - #22
Grave 2 heat pts space
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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
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Unread 2 years agoclass of '05 - away - #23
ProfitSee 352 heat pts352 space
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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
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Unread 2 years agoclass of '04 - away - #24
egotistical 1 heat pts space
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If you REALLY had 80k in your bank account you would probably already know what to do with it.
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Unread 2 years agoclass of '07 - away - #25
A-L-P 5 heat pts space
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$2,869 | 15995525
OP, check out getrichslowly.com, they have a financial forum on there. I've gotten alot of great insight from posters on that site.
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Unread 2 years agoclass of '11 - away - #26
253xLonghair3 7 heat pts space
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253TACTOWN253
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$1,154 | 9893042
I HAVE 8K and dont know what to do with it besides buy a car
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Unread 2 years agoclass of '08 - away - #27
Gmengfx 56 heat pts56 space
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wow would be nice to have 80k in the bank right now...
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Unread 2 years agoclass of '08 - away - #28
Gmengfx 56 heat pts56 space
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253xLonghair3 said:
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
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Unread 2 years agoclass of '09 - on now - #29
2nd2none  space
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$3,606 | 7755694
egotistical said:
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
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Unread 2 years agoclass of '11 - away - #30
BtMkRs 12 heat pts12 space
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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
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Unread 2 years agoclass of '10 - away - #31
THERETURNOFK2Z 2 heat pts space
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jus...stop it
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$1,554 | 9915674
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.ssuming 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 12:28 PM..
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Unread 2 years agoclass of '04 - away - #32
SpittN4Cash 11 heat pts11 space
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invest in a high interest bearing IRA that compounds annually, duh
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Unread 2 years agoclass of '05 - away - #33
Ghettoquiz 9 heat pts space
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Gold. Silver. Food. Guns. Bullets.
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Unread 2 years agoclass of '10 - away - #34
Ars3n 10 heat pts10 space
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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...."
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Unread 2 years agoclass of '11 - away - #35
GetuOne 73 heat pts73 space
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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
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Unread 2 years agoclass of '06 - away - #36
poppapimple 6 heat pts space
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does your girl have a brother start supporting him
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Unread 2 years agoclass of '12 - away - #37
Brolic757 7 heat pts space
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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
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Unread 2 years agoclass of '04 - away - #38
Duntaz 22 heat pts22 space
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Unread 2 years agoclass of '05 - away - #39
TKO420  space
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Ghettoquiz said:
Gold. Silver. Food. Guns. Bullets.
Yuuuuuuuup!
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Unread 2 years agoclass of '04 - away - #40
hockeythug 60 heat pts60 space
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Brolic757 said:
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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