Tell me what to do with a $120,000 unexpected windfall

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:We bought land.

I’d actually consider this too. Someplace north - Maine with access to a lake/pond.

Otherwise an index fund.

I'm confused--how is this a good idea?

Buying vacant land way before you plan to build on it is not a good idea.

OP: Index funds.

[Anonymous]

Buy a Birkin bag

[Anonymous]

Index funds

[Anonymous]

Anonymous wrote:Buy a Birkin bag

The only true store of value left.

[Anonymous]

Gotta throw it out there:

Hookers and blow

[Anonymous]

Posting hookers and blow on every post is not funny or clever. Find something better to write.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Invest it in index funds and wait.

+1

+2

[Anonymous]

Open a separate brokerage account and use for things that would have meaning for or remind you of the source of the money.

I am in a similar situation (retirement etc in good shape) and received a similar windfall and it has been devoted to spending a bit more than I would otherwise in ways that I know my relative would appreciate.

[Anonymous]

Put 20k in cd ladder or hysa for car. Invest 100k in vti/voo or similar.

[Anonymous]

25k in a one year CD. Remainder in VTSAX. Open an account at a brokerage that you don’t currently use (Fidelity is easy), so it’s out of sight, out of mind. And yes, spend some time thinking about what would be a meaningful way to spend it.

[Anonymous]

Anonymous wrote:Open a separate brokerage account and use for things that would have meaning for or remind you of the source of the money.

I am in a similar situation (retirement etc in good shape) and received a similar windfall and it has been devoted to spending a bit more than I would otherwise in ways that I know my relative would appreciate.

Yep, did the same. The money is not "working for us forever" as it would invested in a long-term index fund, but we are spending it meaningfully and in a way that honors the memory of our family member who died.

[Anonymous]

Anonymous wrote:Open a separate brokerage account and use for things that would have meaning for or remind you of the source of the money.

I am in a similar situation (retirement etc in good shape) and received a similar windfall and it has been devoted to spending a bit more than I would otherwise in ways that I know my relative would appreciate.

The traditional advice is to do that in the name of the spouse who inherited the money and not to comingle

[Anonymous]

Buying land in some wintry backwater in the hopes that the Earth will heat up and force people to move to your land... is a really dumb way to spend 120k.

[Anonymous]

Land? No. What if health changes! Index funds

[Anonymous]

Anonymous wrote:So weird that no one on DCUM ever has huge, unexpected losses, only windfalls.

I think the biggest windfall I ever got was $2000 lol. It’s crazy how so many people have 5,6,7 figures falling into their lap