By: Jeff Rose
@ Nords That would be pretty difficult to scale up with P2P with that amount. I do know that Lending Club does offer separate portfolios starting off at $100,000 to get in, so I imagine that’s where I...
View ArticleBy: Jeff Rose
@ Matt I could see student loans, but I don’t the point in paying off a mortgage when you have a rate in the low 3′s. Especially if I could invest into something and net more even after taxes. But...
View ArticleBy: The Military Guide
Thanks– I’ll take a look at LC’s separate portfolios. I’ve been wondering how people handle the workload.
View ArticleBy: Kingship Capital
Great post! I liked the He-Man reference especially. I am of the same mind when it comes to what-if scenarios, but it is nice to dream sometimes.
View ArticleBy: Aram Durphy
For Step 8 (invest in stocks): sure, you’ll have some bad trades, but it’s important to remember that is factored into a diversified portfolio of excellent stocks. If you hold 30 positions of value...
View ArticleBy: Brent Pittman
I like your step #1. Wait. I’d also add pray and seek council for tax advice. Not sure if I’d personally go deep with P2P lending as I can’t stomach the idea of charging such high interest rates to...
View ArticleBy: Jacob @ iheartbudgets
Great advice here. I have had a few financial windfalls, and though I blew through $100,000 before I even turned 21, I did end up doing some more productive things with my next income. I have written...
View ArticleBy: Melissa@LittleHouseintheValley
Ah, the dreams about what I would do with $1 million. All of your advice is good, but the best is to just wait before spending any money. I would guess the majority of people who receive a windfall...
View ArticleBy: Terry Willett
Good advice, especially the ‘parking’ part. If there was a way to keep that windfall out of the papers, I’d do it. Otherwise, every Tom, Dick, and Harry would be at your doorstep. Personally, we would...
View ArticleBy: Sadie
Just wondering what you might do if you were single and subject to only the $100,000 FDIC insurance limit – perhaps use CDARs or have 10 accounts at 10 different banks?
View ArticleBy: Scott
It’s more like some outperform for some of the time. Over the long run, according to what I’ve read and people I know, what Mike said is perfectly correct, even if the 10x cost isn’t always...
View ArticleBy: Paul
Most churches do help fund other organizations and out reaches which is why I give (when I can) . Most if not all the money allocated is used to fund which ever foundation they put it towards unlike a...
View ArticleBy: Jeff Rose
Good points Paul. I’d also like to add that if we assume that any charity or church we give to is corrupt, it justifies not ever giving. That’s going too far in the other direction. We should give in...
View ArticleBy: DividendMonkey
I would prefer to pay off all debts, including my house. If you have a $700 mortgage payment and it is gone, than that would reduce the emergency fund needs by $16,800 for a 24 month emergency fund. So...
View ArticleBy: Jeff Rose
That’s a good strategy DM. In addition to the fact that paying off the mortgage will free up $700 per month for savings and investing. Not to mention the peace of mind that comes from living in a...
View ArticleBy: Memoneister
Excellent post…I love your advice on tithing, very few people will suggest that. A lot of people will not agree but let’s look at it in a different scenario. Someone wins $100 & gave the 10% or...
View ArticleBy: Memoneister
We believe we are saved by Grace through Faith Jeff H. but according to James 2:14-26 “Faith without works is Dead”. Christians are not saved by good works but it should manifest automatically out of...
View ArticleBy: dean miller
Why dont you mention putting it into first and 2nd mortgages and real off and easy 10 per cent on your money.
View ArticleBy: Jeff Rose
Hi Dean – That’s another idea, but it’s more specialized. Also, if rates are in the 10% range, they’re subprime loans, and those are a lot more risky. I wouldn’t recommend something that high risk.
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