Post by SpartanGirl on Dec 22, 2014 9:29:59 GMT -5
Pay off my student loans, and buy a new (to us) van. That would leave about half of the money which I'd split evenly amongst the kids' college funds. Maybe we'd get really wild and go on a family vacation too.
Within the next few years we are probably going to take ownership of the ILs home. It's on a great piece of property in a nice neighborhood. If/when this happens, well be gutting it, adding another level, and completely changing the look. If for some reason we don't end up with this property, we'll be upgrading to a larger home. They've mentioned it twice, and given no details. Not sure if we would be buying them out (at a discount) or receiving it as a gift.
So either way, the money would sit, grow, and wait, and eventually be used toward a larger home.
Probably put aside $5,000 to get our emergency fund where I'd prefer it to be. Then pay off the part of our mortgage that we got to avoid PMI. The rate is somewhat variable and that makes me a tad nervous. Same thing with one of my student loans.
Then we'd probably renovate the kitchen down to the studs and finish the basement.
If there was anything left, we'd throw it at our van and pay it off.
I'd love to take a family trip to Germany, and if we paid off part of the mortgage, that SL and the van, enough regular monthly payments would be freed up, we'd probably be able to do so easily in 2016.
Pay off H's SLs ($6k) Pay off H's car ($10k) Renovate the master bath ($ Maybe $30k?) Buy some furniture, or at least put some money aside so once I find furniture I will buy it without feeling guilty ($1-2k probably)
Donate a bunch and then put the rest in savings (either 529, or general savings)
Post by andthentherewere10 on Dec 22, 2014 9:46:42 GMT -5
My grandma used to give me 10,000 a year and my parents 20,000 a year. So 30,000 to her grandkids, 60,000 to her kids. It stopped my last year in high school, though. ??
Post by badtzmaru22 on Dec 22, 2014 9:52:40 GMT -5
Pay off DH's car (very little left on it, but still) $5k vacation $5k? Hire a contractor to finish the abandoned side of our basement. $20k savings Throw some to the mortgage? Refi? Something to get a smaller monthly payment.
LOL, I should ask DH. He and I probably have different ideas. At the moment I think our options would be either:
-DP on a new house -LARGE DP on a vacation home -Paying off our truck, buying a new car for DH, doing some home repairs, and investing whatever is left over -Doing some travel we wanted to do, and investing the rest
This makes me kinda sad this will never happen to us lol
In my job, it is. SO COMMON for clients to gift to their kids/grand kids bc they have too much money, literally. So a grandchild will get 28k a year just because, every year. Even more if they are married and/or have kids
I love my job but sometimes I'm just like "sigh"
Um yeah. This is basically what I do all of December. Transfer $28K like seven hundred times for everyone. Open new accounts based on new trusts. Transfer $28K some more. Call charities and gift stock. etc. etc. etc.
For a second I didn't realize you were speaking professionally and not personally and was like MUST BE NICE.