what would you do?

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topdown_IHB

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Howdy folks. Been a long time lurker. Thought I finally register and make a post/question.



<strong>Scenario</strong>

You have about 120k in a savings account.

You make about 100k/year as a computer geek.

You have zero debt.

You have zero interest in finance. (thus the amount in savings)



What would you do with the money?





Thanks

topdown
 
[quote author="topdown" date=1253421738]Howdy folks. Been a long time lurker. Thought I finally register and make a post/question.



<strong>Scenario</strong>

You have about 120k in a savings account.

You make about 100k/year as a computer geek.

You have zero debt.

You have zero interest in finance. (thus the amount in savings)



What would you do with the money?





Thanks

topdown</blockquote>
Be in cash for now and possibility invest once we get a decent pull back in the stock market.
 
[quote author="topdown" date=1253421738]Howdy folks. Been a long time lurker. Thought I finally register and make a post/question.



<strong>Scenario</strong>

You have about 120k in a savings account.

You make about 100k/year as a computer geek.

You have zero debt.

You have zero interest in finance. (thus the amount in savings)



What would you do with the money?





Thanks

topdown</blockquote>


<img src="http://ecx.images-amazon.com/images/I/41FS4EKQN2L._BO2,204,203,200_PIsitb-sticker-arrow-click,TopRight,35,-76_AA240_SH20_OU01_.jpg" alt="" />
 
[quote author="USCTrojanCPA" date=1253436729][quote author="Irvine_Lurker" date=1253436088]Vegas Baby...</blockquote>
Always bet on black?</blockquote> Yes. Black 15 :)
 
sounds like you are doing fine... keep at it... whatever you do... make sure it is suitable for your risk tolerance...



remember... no risk = little return; large risk = greater return
 
[quote author="roundcorners" date=1253527596]sounds like you are doing fine... keep at it... whatever you do... make sure it is suitable for your risk tolerance...



remember... no risk = little return<strong>/little loss</strong>; large risk = greater return<strong>/greater loss</strong></blockquote>


Fixed it for you
 
[quote author="Stuff It" date=1253529901][quote author="roundcorners" date=1253527596]sounds like you are doing fine... keep at it... whatever you do... make sure it is suitable for your risk tolerance...



remember... no risk = little return<strong>/little loss</strong>; large risk = greater return<strong>/greater loss</strong></blockquote>


Fixed it for you</blockquote>


You're both wrong.



No gamble = no return

Little gamble = little return/little loss

Greater gamble = greater return/greater loss



"Risk tolerance" is a euphemism for "how much I can afford to throw away on this bet" and any investment should be looked at like a gamble; anyone that tell you differently is selling something.
 
topdown, only you can answer the question for yourself. keep in mind that everyone's opinions are based on their own personality, risk tolerance, and also - this one is often overlooked - their skill set. remember, you're the one that has to be able to sleep at night.
 
Don't buy a new home because you will lose money like buying a new car. Buy a certified preown house in 2012. Deuce will tell you a million reasons not to buy new.
 
wouldn't it depend if you were married, single, had kids, if you're just out of school, or middle-aged, need a new car, have large expenses that could come up, have lots of relatives to support, expecting a huge inheritance, have a stable government job, work for a loan modification company, have desire to back to school or change professions, want to start own business, like to throw your money around, like to be generous and give it all away....



Me personally, I would take a long trip somewhere, maybe drive across the country to see the national parks and leave the rest of the money alone (but I might gamble with 15% of it).
 
i would gradually build up a tolerance for risk... start small, and keep expanding your boundaries... talk to most millionaires and they will tell you that they have earned and lost millions in their careers... you will NEVER "win" with just a savings account... simply put inflation will eat it away... you can always live within your means, spend thrifty, save and be content with where you're at... but you will never truly get ahead...
 
[quote author="roundcorners" date=1253613252]t... but you will never truly get ahead...</blockquote>


Get ahead of whom, exactly?
 
[quote author="Nude" date=1253613825][quote author="roundcorners" date=1253613252]t... but you will never truly get ahead...</blockquote>


Get ahead of whom, exactly?</blockquote>


cost of living in the OC... our last pediatrician 6-month check up, which consisted of exactly, weighing the baby, measuring his head and length, giving his vaccines (2 injections, 1 orally); and total of 5 minutes with the Doc, to explain starting solids, and giving us some copied paper work to read up on, cost us: <strong>$645</strong> (with insurance...)
 
[quote author="roundcorners" date=1253615377][quote author="Nude" date=1253613825][quote author="roundcorners" date=1253613252]t... but you will never truly get ahead...</blockquote>


Get ahead of whom, exactly?</blockquote>


cost of living in the OC... our last pediatrician 6-month check up, which consisted of exactly, weighing the baby, measuring his head and length, giving his vaccines (2 injections, 1 orally); and total of 5 minutes with the Doc, to explain starting solids, and giving us some copied paper work to read up on, cost us: <strong>$645</strong> (with insurance...)</blockquote>


Roundcorners, this is outrageous. My son just turn two and I can remember his 3 months, 6 and 9 and 12 months like it was yesterday. OK, I remember the measurements which is usual and the 5 minutes check up, but I don't seem to recall having to pay $600 +. I work for a public corporation with PPO plan and I do have to pay co-pay which is about at that time is $ 20.00. I would check around. We use to go to SeaView Pediatric but now with a physician in Newport Beach for my son and even that his fee is nothing close to what you pay.



Do you have private health insurance or are you getting it thru work?
 
We kind of found out the hard way that (like you) being uber responsible and having no debt is actually frowned upon in our capitalist society and makes your credit score go down. WTF is up with that?



We have taken out two store credit cards to keep our toes in the muck.
 
<blockquote>Give it to me :)</blockquote>
I knew somebody would say that =)



<blockquote>Buy a condo in Tustin and rent it out for $1500 a month. </blockquote>
This is what I've been kind of thinking of.



<blockquote>

?Risk tolerance? is a euphemism for ?how much I can afford to throw away on this bet? and any investment should be looked at like a gamble; anyone that tell you differently is selling something. </blockquote>
Very wise words.



<blockquote>Don?t buy a new home because you will lose money like buying a new car. Buy a certified preown house in 2012. Deuce will tell you a million reasons not to buy new. </blockquote>
But would a preowned home have a new home smell? =)



<blockquote>Me personally, I would take a long trip somewhere, maybe drive across the country to see the national parks and leave the rest of the money alone (but I might gamble with 15% of it). </blockquote>
Did this earlier this year. My first time visiting asia and drove to YSNP. America is one beautiful country.



<blockquote>you will NEVER ?win? with just a savings account</blockquote>
Very true





<blockquote>cost us: $645 (with insurance?)</blockquote>
OUCH!! Let's see if mister president can change this.





Thanks for all your replies. Of course, I won't do X just because people tell me to. This question was to see what others (with different personality/experiences/etc) would do in my situation.
 
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