You've been given $500,000 as a gift.

Discussion in 'The Okie Corral' started by Nemesis., Feb 20, 2013.

  1. Nemesis.

    Nemesis.

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    The "gift tax" has already been paid, and the only stipulation is that you must invest the money so as to see a return. You can't buy durable goods such as guns or cars.

    What do you do?
     
  2. G23c

    G23c

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    Nemesis, you're one of those reclusive GT billionaires aren't you, and are going to send the money by Paypal for the best response?!? so cool.
     

  3. GD2J

    GD2J GoDirectly2Jail

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    In this order:
    1. Bills/Mortgage
    2. Investments/Savings

    If the gift had been greater than $500,000, then continue to:
    3. Real Estate, for rental income generation
     
  4. kiole

    kiole

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    Pay off student loans, and build a nice log cabin in the woods putting in sweat equity. Around here you could have 50,000 in equity after completing the cabin. Then i'd put the other 250,000 into some stocks.
     
    Last edited: Feb 20, 2013
  5. sheriff733

    sheriff733 NRA LIFE MEMBER

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    1. Pay off any outstanding debts.

    2. Put 6 months of expenses in a emergency checking account.

    3. Invest the remainder in to growth stock mutual funds, along with 15% of your income. Sit back and watch your wealth explode and retire early as a millionaire.
     
    Last edited: Feb 20, 2013
  6. VC-Racing

    VC-Racing General Flunky

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    Under current conditions guns ,ammo and magazines may yield a greater return on a investment than silver or gold.....

    posted using Outdoor Hub Campfire
     
  7. JMS

    JMS 02

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    $500k

    $200k pay off mortgage
    $200k put towards children college savings
    $100k put into our savings
     
  8. Bruce M

    Bruce M

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    The investment guy that my Dad uses managed to manage his stuff so there was no loss in the big recession and before that it had been making modest to adequate gains. Since he has developed trust by a family member and a proven track record I would have him invest it as he sees appropriate. Because he knows alot more than I do (not that that it is difficult.)
     
    Last edited: Feb 20, 2013
  9. Nemesis.

    Nemesis.

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    Doubtful since if you made the purchases now, you're buying at the peak.
     
  10. Nemesis.

    Nemesis.

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    Is he a privately owned independant or does he work for a national company? If the latter, what company?
     
  11. MO Fugga

    MO Fugga Malt Liqra® Lifetime Member

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    A strip mall in the ghetto including:

    Stop N Rob
    Laundromat
    Check cashing place
    Day labor
    Church's Chicken franchise
    Head shop
    Stereo/rim/tinting shop.

    Might as well try and get back as many tax dollars as I can.
     
  12. sheriff733

    sheriff733 NRA LIFE MEMBER

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    Love it.
     
  13. Zombie Surgeon

    Zombie Surgeon MODELATOR

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  14. volsbear

    volsbear IWannaBeSedated Lifetime Member

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    Sell my house, buy property and a new home.
     
  15. Patchman

    Patchman Florist

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    I'd import from Asia $500,000 worth of knock off high end handbags.
     
  16. Geko45

    Geko45 Smartass Pilot CLM

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    S&P 500 index fund.
     
  17. MO Fugga

    MO Fugga Malt Liqra® Lifetime Member

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    Full of H? :supergrin:
     
  18. matt_lowry123

    matt_lowry123

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    I'd just regift it to the NRA
     
  19. Goldendog Redux

    Goldendog Redux Shut your mouth

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    Debt.

    Detached Shop/garage.

    Remodel Kitchen.

    Invest/save.

    Bravia.
     
  20. HKLovingIT

    HKLovingIT Resident Evil

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    Move to Vegas. Open strip club and brothel. Profit.