If you inherited 100K today...

MrEureka · June 1, 2003 4:13AM

If you inherited 100K today and you were not allowed to spend it on coins or other collectibles, what would you do with the money?

If this sounds O/T, it's not. I'm thinking that much of the strength of today's market comes from a lack of good alternative uses for capital. Your answers will help test my theory.

Russ · June 1, 2003 4:18AM

Hookers and booze.

Russ, NCNE

roadrunner · June 1, 2003 4:21AM

Gee that's a tough one. I think I see two alternatives. Since I cannot spend it where I would like to, I'd probably either pay off the mortgage or put it into publically traded gold shares. Or invest/buy into part of a business that will hold its own in the current business climate. Tough question though.

roadrunner

CoinAddict · June 1, 2003 4:22AM

I would probably put the money in the bank to keep until I needed it in the future.

roadrunner · June 1, 2003 4:25AM

Uhhh......part owner in the Eureka trading system?

roadrunner

itsnotjustme · June 1, 2003 4:27AM

Save for the kids college.

Lakesammman · June 1, 2003 4:27AM

Pay down current debt.

clw54 · June 1, 2003 4:37AM

Pay off a large chunk of my mortgage and refinance what's left just to get low payments. Then I'd have more disposable income to buy coins.

CrowHill · June 1, 2003 4:42AM

Real Estate! God isn't making any more...

boz · June 1, 2003 4:46AM

I'd be with Russ, cause I know I'd get the cute one.

Real Estate! God isn't making any more...

Yes he is, it's just a long slow process.

topstuf · June 1, 2003 4:46AM

Gold, bonds, and Realty Investment Trust stock (symbol "O" on NYSE)

If I had a mortgage over 6% I would pay that off.

Draco · June 1, 2003 5:00AM

<< Hookers and booze. >>

Russ. . .Can I help?

jdimmick · June 1, 2003 5:00AM

Good start on a construction loan to build a new home.

toothpuller · June 1, 2003 5:01AM

With the brand new tax law it makes sense to increase your out of plan stock holdings. Hence, I would look to add stocks with at least 2% dividend yields that I would also expect to appreciate long term resulting in a nice capital gain [eg. XOM, C, or PFE].

Retiring any debt or increasing a "rainy day fund" would make sense if applicable.

supercoin · June 1, 2003 5:02AM

Not sure, but if Russ inherited it, I guess I'd become a hooker.

Draco · June 1, 2003 5:05AM

<< Not sure, but if Russ inherited it, I guess I'd become a hooker. >>

Russ. . .nevermind.

nwcs · June 1, 2003 5:09AM

<< If you inherited 100K today and you were not allowed to spend it on coins or other collectibles, what would you do with the money? >>

Pay off the house and put the rest in the bank to use for home improvement, repairs, and whatnot.

09sVDB · June 1, 2003 5:10AM

Put most of it away for the kids college education and paydown the mortgage a bit.

ms70 · June 1, 2003 5:11AM

Go on an awesome vacation! And then probably put the rest into short term CD's until the interest rate went up. Then probably longer
term CD's & just let it sit like a nest egg.

ClarkOfKent · June 1, 2003 5:22AM

I'd get the IRS off my butt once and for all, and blow the rest on gum and candy (translation: hookers and booze).

BAJJERFAN · June 1, 2003 5:23AM

I'd spend half on wine, women and song and the other half foolishly.

JJacks · June 1, 2003 5:30AM

Hire a lawyer for $10K who could get the clause dropped about not being able to spend on coins and then spend $90K on coins!

Actually, I would go with Claw's idea - pay down debt and loans, then refinance and have more $ each month.

JJacks

longtimecollector · June 1, 2003 7:32AM

I'd buy a BIG boat and head for the Carribean...... The hookers and booze are WAY cheaper down there !!!!!!!!!

roadrunner · June 1, 2003 7:33AM

I'd buy up all the existing pissing minute man quarters......because 1. they aren't coins and 2. they're not tangible investments.
Hey, can I be arrested for associating with that die crack?

roadrunner

ursabear · June 1, 2003 7:43AM

Put back 25K for the kid's education, pay off 50K in debt, and buy a white turbo Punch Buggy with a moonroof (in that order).

RYK · June 1, 2003 7:49AM

Hookers and booze.

I always enjoy Russ' snappy responses. I am sure he would be a lot of fun to have as a dinner guest.

I just received a fiscal year-end bonus, and this is how it is actually being distributed:
15% stock mutual funds
20% wife's jewelry purchase
30% money market fund
15% pay down/refinance mortgage
10% kids custodial and 529 accounts
10% miscellaneous discretionary expendiures (including coins)

Robert

glassman · June 1, 2003 10:06AM

I would purchase a nice tidy little rental house. Use the rental income to purchase coins and still have the investment intact..

beartracks42 · June 1, 2003 10:39AM

I like glassman's idea. I would also give some cash to my 10 grandchildren.

oreville · June 1, 2003 1:26PM

ROFL.

Back to reality.
(1) $10,000....Fix up my house... doesn't pay to buy a bigger house. Real estate taxes going bonkers here in New York.
(2) -0- Mortgage rate is only 4.5% a tad too low rate wise to pay off.
(3) $20,000....Invest more in mutual savings bank accounts earning 1% interest. Seed accounts for mutual savings banks going public.
(4) $20,000...Invest more in small bank stocks, I have been making a killing on them, non interrupted for the last 6 years. Up 75% in the last 7 months alone. Will be needed for daughter's College (see below)
(5) $35,000....one years College tuition, room and board for my daughter who is going to school in two months.
(6) $10,000 add to my $20,000 already saved for my daughter's second year's College costs.
(7) Bribe the pattern expert here to get me some FREE patterns worth a lot more than $5,000! See, didn't spend any money on collectibles!!

joejeweler · June 1, 2003 2:30PM

Hehehe.....got you on this one! I'd put it in my bank savings account at a measly 1 1/2 % interest as collateral for a $100,000.00 offsetting loan! I've already done this with $5,000, as a forced savings where they take $95 a month from my checking account to automatically pay the loan off over 5 years. Only 5 1/4 % rate on the borrowed money. Good way to build my credit also.....since i've been on a cash basis the last 12 years!

Now don't go a changing the rules and say i can't do this! They are totally separate transactions and the $100,000 i "borrow" would be used for.......COINS!!!!!

PS.....i wouldn't exactly be getting $100,000 out as a loan, as my bank requires the loan amount...plus full interest over the course of the loan........to be held as collateral for the loan. For my $5,000 loan i had to place almost $5,700 in the savings account. So i'd more likely be borrowing maybe 86K and have 100K in the savings account. Payments would be a bit higher at maybe $1,900 per month but i could handle it. In five years........$107K all mine to buy......MORE COINS!

<< If you inherited 100K today and you were not allowed to spend it on coins or other collectibles, what would you do with the money?

If this sounds O/T, it's not. I'm thinking that much of the strength of today's market comes from a lack of good alternative uses for capital. Your answers will help test my theory. >>

ARCO · June 1, 2003 2:31PM

Good hell I would LOVE 100K that I couldn't spend on coins. I have so much to do that I could get my life back in order. Once I buy a beautiful coin it takes all my willpower to even consider selling it, even though I can never go through with it.

I would just use it to improve the house, pay off my coin debts, and save for a rainy day.

Tyler

What am I saying? Hookers and booz....no, just more hookers.

Typetone · June 1, 2003 3:06PM

50K stocks

40K bonds

10K a new diamond for my wife

Greg

hughesm1 · June 1, 2003 3:53PM

I'd put 15K toward each of my kids college funds (X2), and the remaining 70K toward a house.

Rnealw · June 1, 2003 4:55PM

Put it in the bank and collect interest then spend the intrest on coins.

Trime · June 1, 2003 5:38PM

Give it to my kids that for the momment have the greatest need and want to buy a house. After all, this is found money, why not share the hypothetical.

ldhair · June 1, 2003 9:07PM

Buy two small rental properties.

The cashflow would give me 10K per year to buy coins with.

MacCoin · June 1, 2003 9:18PM

new windows and two new chinnys for the house and many a new lawn mower(rider)

MadMonk · June 1, 2003 10:16PM

I'd refinance my house after putting 50k towards principal, then change Mortgage to a 15 yr. I'd also pay off a car. I'd put the remaining money into other very safe investments, including maxing out the ROTH IRA for that year.

Bear · June 2, 2003 12:24AM

OK, when Russ gets the money, all the guys meet at Russ's house to party.

If I get the money it would go into CDs and maybe a couple of meals at the deli.

The reason is that I have already placed most of my money into high grade type coins.

mihaiinforcoins · June 2, 2003 12:49AM

I would use it to get to Usa.I am in Romania now,a romanian.Then i would make my dreams come true in Usa!!

Mihai

flaminio · June 2, 2003 1:40AM

Buy another house, and rent it out. I wanna be a slumlord

.

Wisconsin · June 2, 2003 1:47AM

Buy a nice piece of ocean frontage in either Nova Scotia or Prince Edward Island.

Russ · June 2, 2003 2:06AM

<< 10K a new diamond for my wife >>

I guess she she reads this forum?

Russ, NCNE

Conder101 · June 2, 2003 4:42AM

Put it aside for the back surgery that I'm possibly going to need at some point in the future.

SethChandler · June 2, 2003 5:32AM

If it was from a oddball family member (money that I'd never thought of) I'd give the money to charity....preferably one that helps children. If the money came from my parents, it would be placed in a trust for my children. If it was a significant amount that altered my net worth, then I would just reallocate to my current investment portfolios, which is mostly stocks and bonds. So Andy...how's your theory holding up?

Seth

fishcooker · June 2, 2003 5:34AM

I would spend a day or two studying my state's laws to determine how to shelter the money from

Lawsuits and Fraud. I don't want a lawsuit or criminal to take it all. I know that it's pretty safe to

pay off a mortgage, so that would be step 1. The remainder would go into something like the annuity

O.J. did. I heard he avoided paying any of his wrongful death lawsuit settlement that way.

jom · June 2, 2003 5:38AM

I'd probably take about half and buy down my home loan (at 5.6% that isn't bad). I'd take the rest and invest in my business (no, it's not coins).

jom

PS: I'm assuming this 100k is AFTER TAXES, right? lol

MrKelso · June 2, 2003 7:19PM

Pay what ever taxes on it and dump the rest in Gold Bullion.

If you inherited 100K today...

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