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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 12-24-2012, 09:21 PMJoined Feb 2011 - 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 12-24-2012, 09:22 PMJoined Jan 2007 - 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 12-26-2012, 07:38 AMJoined Feb 2005 - 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 12-26-2012, 12:36 PMJoined Aug 2004 - 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 12-26-2012, 12:37 PMJoined Oct 2007 - away - #25
A-L-P 5 heat pts space
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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.
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Unread 12-30-2012, 10:16 PMJoined Apr 2011 - away - #26
253xLonghair3 7 heat pts space
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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 12-30-2012, 10:57 PMJoined Apr 2008 - 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 12-30-2012, 10:58 PMJoined Apr 2008 - away - #28
Gmengfx 56 heat pts56 space
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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
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Unread 12-30-2012, 11:53 PMJoined Sep 2009 - away - #29
2nd2none  space
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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
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Unread 12-31-2012, 07:40 AMJoined Nov 2011 - away - #30
BtMkRs 12 heat pts12 space
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$4,576 | POWERFUL
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 12-31-2012, 12:19 PMJoined Apr 2010 - away - #31
THERETURNOFK2Z 2 heat pts space
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jus...stop it
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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.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 12-31-2012, 12:35 PMJoined Jan 2004 - 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 12-31-2012, 08:17 PMJoined Jan 2005 - away - #33
Ghettoquiz 9 heat pts space
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Gold. Silver. Food. Guns. Bullets.
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Unread 01-01-2013, 09:59 PMJoined Nov 2010 - away - #34
Ars3n 9 heat pts 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 01-02-2013, 12:27 PMJoined Feb 2011 - 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 01-02-2013, 02:36 PMJoined Oct 2006 - 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 01-02-2013, 03:20 PMJoined Oct 2012 - 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 01-02-2013, 03:26 PMJoined Jan 2004 - away - #38
Duntaz 21 heat pts21 space
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Unread 01-02-2013, 06:16 PMJoined Feb 2005 - away - #39
TKO420  space
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Originally Posted by Ghettoquiz
Gold. Silver. Food. Guns. Bullets.
Yuuuuuuuup!
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Unread 01-02-2013, 07:07 PMJoined Dec 2004 - away - #40
hockeythug 59 heat pts59 space
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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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