Dad left me 30 sequential first year (2009) uncirculated $100 bills, keep, payoff car or buy coins?

Save a hundred to feed your buddies pork belly and IPA when it gets a bit cooler.
(I’d save the one that ends in 83 and the 82 to have two consecutive.)

I’ve lived debt free for past 12 years (no mortgage or credit card or car loans, well I owe $8000 on my Mustang but I’m paying 1.9% and earn 5.12% so no reason to take money out of a cd). It’s the best feeling, you want to buy a 1909 S VDB you can. You want to take a vacation go right ahead.

As to your dilema, $3000 isn’t really much. Payoff debts if there is any left over take your wife out. Save the rest.

Pay off the car.

Pay off any debts then get coin as you need to, fwiw

If you have not contributed the max for your 2024 Roth, do that.

@DocBenjamin said:
Two grand is bupkis, you will have that paid off in no time.

Heirloom from your dad is forever and priceless. Keep them. Sure they will effectively depreciate with inflation, doesn't really matter though.

If you can't wrap your head around 2K being enough to treat like "real money", try thinking about what sort of coin you could buy for the money.

And if you want a forever and priceless heirloom, pay off the loan and get yourself a THXDAD vanity plate.

Everybody saying to pay off the car when they don't even know the terms of the loan! Like said above, if the loan is at a low % it wouldn't pay for you to do that when you can invest, also said above in a Roth IRA. Nvida also was mentioned above.
Debt can work for you in the right ways, don't treat it as a burden, sometimes it's a good thing
JMO

Roth IRAs are not necessarily tax efficient depending on your tax bracket. A traditional IRA can actually be a better deal depending on future tax rates.

My father would have taken a bath in taxes if he had his money in Roth instead of traditional IRAs. The money went in with a 29% deduction but came out mostly in a 15% bracket. YMMV

That’s a truly unique item. As a whole, undoubtedly worth more than face. I’d consign to a major currency auction and see what happens.

@alaura22 said:

@jmlanzaf said:
Roth IRAs are not necessarily tax efficient depending on your tax bracket. A traditional IRA can actually be a better deal depending on future tax rates.

My father would have taken a bath in taxes if he had his money in Roth instead of traditional IRAs. The money went in with a 29% deduction but came out mostly in a 15% bracket. YMMV

A Roth IRA is an Individual Retirement Account to which you contribute after-tax dollars. While there are no current-year tax benefits, your contributions and earnings can grow tax-free, and you can withdraw them tax-free and penalty free after age 59½ and once the account has been open for five years.

Know what you're talking about before you open your mouth and giving bad advice

I'd posit that his father was probably a very conservative investor and didn't plan to have [or need] the income in retirement that he had while employed. If your investment choices don't yield enough to overcome the initial taxes paid on the contribution then your account likely won't have a RMD that will put you into a higher bracket.

Keep one as an heirloom (frame it and hang it somewhere to remind you) and use the rest to pay down debt, focusing on the highest interest loans first.

@alaura22 said:

@BAJJERFAN said:

@alaura22 said:

@jmlanzaf said:
Roth IRAs are not necessarily tax efficient depending on your tax bracket. A traditional IRA can actually be a better deal depending on future tax rates.

My father would have taken a bath in taxes if he had his money in Roth instead of traditional IRAs. The money went in with a 29% deduction but came out mostly in a 15% bracket. YMMV

A Roth IRA is an Individual Retirement Account to which you contribute after-tax dollars. While there are no current-year tax benefits, your contributions and earnings can grow tax-free, and you can withdraw them tax-free and penalty free after age 59½ and once the account has been open for five years.

Know what you're talking about before you open your mouth and giving bad advice

I'd posit that his father was probably a very conservative investor and didn't plan to have [or need] the income in retirement that he had while employed. If your investment choices don't yield enough to overcome the initial taxes paid on the contribution then your account likely won't have a RMD that will put you into a higher bracket.

Just to be clear
There are NO TAXES on a Roth Ira's** IF** you follow the guildlines
There is NO RMD on Roth Ira's
The only way his father would have had a problem id if he didn't follow the guildlines set for the Roth Ira

That's not true. You are ignoring the opportunity cost. Let's say you have are going to put $1000 into an iRA and you are in a 29% tax bracket. You put $1000 in a regular IRA but $710 in a Roth (you have to pay the tax). You yield 10% per year for 30 years. At that point, you have $17,450 in the regular Roth and $12,389 in the Roth.

You can withdraw all $12389 from the Roth. You have to pay taxes on the traditional. But if you are in a 15% tax bracket, you can withdraw $14832 after taxes.

You only "win" on a Roth if you are in a higher tax bracket at retirement OR you have maxed out your traditional.

People ignore the prepayment of the tax and the corresponding opportunity cost.

@BAJJERFAN said:

@alaura22 said:

@jmlanzaf said:
Roth IRAs are not necessarily tax efficient depending on your tax bracket. A traditional IRA can actually be a better deal depending on future tax rates.

My father would have taken a bath in taxes if he had his money in Roth instead of traditional IRAs. The money went in with a 29% deduction but came out mostly in a 15% bracket. YMMV

A Roth IRA is an Individual Retirement Account to which you contribute after-tax dollars. While there are no current-year tax benefits, your contributions and earnings can grow tax-free, and you can withdraw them tax-free and penalty free after age 59½ and once the account has been open for five years.

Know what you're talking about before you open your mouth and giving bad advice

I'd posit that his father was probably a very conservative investor and didn't plan to have [or need] the income in retirement that he had while employed. If your investment choices don't yield enough to overcome the initial taxes paid on the contribution then your account likely won't have a RMD that will put you into a higher bracket.

My father had an RMD. But that doesnt matter. When you put money in a 401k or deductible IRA, they are the last dollars earned and at your highest marginal rate. When you withdraw them in retirement, the first dollars are at 0%, the next dollars at 14%, etc. The average tax rate at withdrawal is lower than the initial deductible tax rate.

[Obviously, not if you are in a lower tax bracket now.]

We were talking about what he could do with the $3000 that he received from his dad and what to spend it on.
The Roth IRA was what one suggested, nothing to do with a regular or traditional IRA. This is not earned money and has nothing to do with a 401K at the work place.
It would be considered after tax money.
If you have a Roth Ira everything you put in it AND everything it gains is not subject to RMD OR taxes if you follow the guild lines of the Roth Ira.

I enjoy the smell & texture of brand new & sequential currency.
When at the Bank, I always ask what's new coming out of the loaded counters.
I've noticed brand new $1's smell just like $100's.

If you got spending it needs, then keep one of their Benjamin, or trade it for a 100 $1 or a hundred pack of $2 to sniff on when you are keeping your loved one alive in your mind.

There's nothing like new cash smell.

@alaura22 said:

@BAJJERFAN said:

@alaura22 said:

@jmlanzaf said:
Roth IRAs are not necessarily tax efficient depending on your tax bracket. A traditional IRA can actually be a better deal depending on future tax rates.

My father would have taken a bath in taxes if he had his money in Roth instead of traditional IRAs. The money went in with a 29% deduction but came out mostly in a 15% bracket. YMMV

A Roth IRA is an Individual Retirement Account to which you contribute after-tax dollars. While there are no current-year tax benefits, your contributions and earnings can grow tax-free, and you can withdraw them tax-free and penalty free after age 59½ and once the account has been open for five years.

Know what you're talking about before you open your mouth and giving bad advice

I'd posit that his father was probably a very conservative investor and didn't plan to have [or need] the income in retirement that he had while employed. If your investment choices don't yield enough to overcome the initial taxes paid on the contribution then your account likely won't have a RMD that will put you into a higher bracket.

Just to be clear
There are NO TAXES on a Roth Ira's** IF** you follow the guildlines
There is NO RMD on Roth Ira's
The only way his father would have had a problem id if he didn't follow the guildlines set for the Roth Ira

I KNOW THAT. Assuming that he gets a bit more than $25K from Soc Sec it takes a pretty good sized 401k balance to generate an RMD that will take you to the 29% bracket from the way the RMD balance is calculated.

@alaura22 said:
We were talking about what he could do with the $3000 that he received from his dad and what to spend it on.
The Roth IRA was what one suggested, nothing to do with a regular or traditional IRA. This is not earned money and has nothing to do with a 401K at the work place.
It would be considered after tax money.
If you have a Roth Ira everything you put in it AND everything it gains is not subject to RMD OR taxes if you follow the guild lines of the Roth Ira.

You're assuming that he would report and pay taxes on the $3000. None of my beeswax if he does or doesn't. All you need do is to have EARNED $3000 in W-2 wages from somewhere. Where the actual money that you contribute comes from doesn't matter.

Take a pic of the notes and have it framed, and then pay off the car.