Anonymous wrote:

Anonymous wrote:I don't have a house I rent an apartment so I would buy a house some where else were $500K buys a nice house.

Vietnam or Uzbekistan?

95% of the rest of the US. Boy your world is very, very small. That's sad.

Anonymous wrote:

Anonymous wrote:I don't have a house I rent an apartment so I would buy a house some where else were $500K buys a nice house.

Vietnam or Uzbekistan?

95% of the US

Anonymous wrote:I don't have a house I rent an apartment so I would buy a house some where else were $500K buys a nice house.

Vietnam or Uzbekistan?

Anonymous wrote:

Anonymous wrote:It blows my mind how much money parents give their kids

What?!?!

I can’t even fathom being given half a million as a tax free gift, I have that much after 8 years of working and investing and being taxed to death.

Find a real estate investor I can place that with to own part of an apartment complex

-Definitely pay off those student loans
-If you have a low interest mortgage, DO NOT pay it off (you could put a chunk toward the principal and ask your lender to recast the mortgage, making payments lower)
-More in the 529s - it's costing us over $80,000 next year for my child's first year of college
-max IRAs for you and your spouse
-Do something FUN, could be a new car or a family trip or renovate or redo a room in the house
-Invest the rest in mutual/index funds and sit tight

I don’t know exactly, but things I’d consider are maxing retirement (we don’t need to do this to retire at 65), college savings for kids (maybe not all in 529s, maybe some just in a regular brokerage account), top off savings to pay cash for a car in the next 3-4 years, set aside $ for major home repairs (like new roof, washer dryer - things we can expect to replace in the next 10-15 years), adding one bedroom to the house and a few other things that we’re limping along with (no kitchen or bathroom remodels). I would look into some travel for when my kids are teens, things that are further afield that we’re planning. I’d like to invest most to help the kids with college and down payments, but I’d also think about these other things. It’s fun to have options.

Anonymous wrote:I don't have a house I rent an apartment so I would buy a house some where else were $500K buys a nice house.

+1

I don't have a house I rent an apartment so I would buy a house some where else were $500K buys a nice house.

Anonymous wrote:Not exactly a gift but I will receive ~500k that’s non taxable in 6-12 months - mid-30s married professional with 2 young children. I have an underfunded 401k so plan on maxing out contributions to all retirement vehicles, paying off my student loans (40k) and putting money into my children’s 529s. I’m interested in investing the rest in the stock market or real estate. Just curious what you would do to invest that amount - or 300k of it. HHI is 230k (split almost evenly) and house has 200k equity - no other debt beyond my student loans.

- Pay down student loan - $40K
- Fully fund 401K - This year and set aside money for next year as well. Keep this money in a high yield savings account.
- Superfund kids' 529 - $200K (100K each). If kids are really young, just invest in the market index within the 529. Spread investment over 10 months.
- Remaining $200K (approx) - Invest in index funds @ 20K/month for 10 months. You could also consider other expenses like buying a new car, home remodel, a nice vacation, etc. from this bucket of money.

For 3 & 4, spreading over a period of time gives you the benefit of dollar cost averaging.. not that it matters in the long run but why not? Univested funds can remain in a high yield savings account while they wait to be invested.

Anonymous wrote:It blows my mind how much money parents give their kids

What?!?!

Anonymous wrote:hookers and blow

After that, then what?

It blows my mind how much money parents give their kids

I'd max retirement for 2023 and 2024 (set it aside for 2024), fully fund 529, then....
make sure you have a 6+ month emergency fund in MM/CDs. Next pay off student loans.

How much do you owe on your home? What is the interest rate?

With the remainder, I would put aside cash for my next vehicle to buy fully with cash. Then I'd invest the rest. However, if you could pay off your home, I'd consider that and then invest your monthly mortgage payment going forward. But I prefer not to have a mortgage personally and you need to be well set with a 6month+ emergency fund, ideally 12 months before I'd fully pay off mortgage

I personally would put 100k in each kid’s college savings account, buy DH a decent car (30k or under), put 50k in a high-interest savings account, and invest the rest with Vanguard. 500k would be life-changing for us.