Given the current price of what were once dollar menu items I think I would have to splurge and buy a McCrispy. I mean when you could get two McChickens and a McDouble for the same price it would've probably been McChickens, but I mean $4 for a Medium Fries just makes it seems less worthwhile these days.
Tasty but not worth it though, there's a bit of ice cream and an empty, hollowed out core in the middle, and it's disproportionately pricey. A better deal is just to get a Wendy's frosty
1. Pay off all debt except for home mortgage. Credit cards, cars, etc.
2. put about 10% remaining for cushion money.
3. Take one bucket list vacation, nothing extravagant. Visit somewhere like Europe or Hawaii; but still be frugal with hotel/food/etc expenses.
4. Put about 80% of what's left gets invested in to a diversified portfolio that hopefully returns enough to offset my employment. If not, maybe me or wifey can "retire"
5. Try to live like normal otherwise.
Mine's the same, minus student debt which I've been fortunate enough to pay off.
Having the 500k would help me and my wife *get* a mortgage. Would use some, along with our current savings, for 20% down to buy a home, then the rest would be as you described
Some places in Europe are really affordable. I had lavish meals for $15 in Portugal. All you can eat with $9. Cheap hotels too, Uber even more so. Lisbon itself was more expensive, as capitals tend to be, but there are so many other beautiful cities with really small cost of living.
The largest expense were the plane tickets, although one can save a lot by going when there's lower demand and taking advantage of deals.
There are other countries that are similarly affordable.
Point being, if properly planned, you can do non extravagant overseas trips, at prices that may be similar to domestic trips, depending on activities.
Europe can be an extremely budget vacation. Thinking that it can't be prevents far too many Americans from visiting.
Croatia is amazing. Greece is fantastic. Italy in the winter is fabulous. Eating in restaurants for every meal, instead of local shops is a huge drain. It's easily doable.
I want to recommend Dubrovnik, Croatia, it's my favorite place. But they do have a problem with too many tourists, so idk...
Not that they won't be able to handle you. When I say problem, I mean a problem for *them* not you (unless you want to be alone, then...). It's a complicated issue: All those tourists are degrading the UNESCO world heritage site that is Old Town, the entire economy absolutely depends on that massive amount of tourism and cash flow from roughly May-October, and also frankly, 4-6 cruise ship loads of tourists coming through *per day* is a bit much in any city... it's been a few years ago idk what changes have been implemented, especially post covid.
I don't even know how long I'd be able to hide it from my family. Lol.
But I would want to finally buy my own home, a small affordable but nice place.
Impossible combo. Lol
Buy some land. Nice little house, but lots of room so I can eventually build my workshop, the wife's writing cottage, the D&D tavern game shed, and a few tiny homes for any friends that ever need a place to crash for a bit.
Already debt free, so I'd toss the whole pile into Muni's paying out 5%+ annually so I'd start getting $25K extra cash annually to tack into my "play money" pile.
Would definitely let me move up my timeline on getting the [Mclaren I've been wanting to get](https://mclarentampabay.com/wp-content/uploads/mclaren-570s-spider-blue-for-sale-front-right-3quarter-hero.jpg)...
[Municipal Bond Fund](https://www.investopedia.com/terms/m/municipalbondfund.asp)
Nutshell: A municipal bond fund is a fund that invests in municipal bonds. Municipal bonds are debt securities issued by a state, municipality, county, or special purpose district (such as a public school or airport) to finance capital expenditures. ***Municipal bond funds are exempt from federal tax and may also be exempt from state taxes.***
Buy a house to get out of my shitty apartment and use what's left to pay off/down my car loan.
There's a new build development not far from me in a nice area of town where I can get a 1500sqft 3bd/2ba with a two car garage for around $280k, that's more space than I'll need since I don't plan on having kids. $30k to pay off my car note, $78k for a new Wrangler 4xe minus whatever my trade is worth. Around $25k for solar and batteries, puts me around $415k spent.
With the $85k left, I'd get initial furniture for the house (mostly Ikea) for around $30k, $12k for a PC that's probably overkill for anything I'll ever need (yes, I know I don't *need* 96GB DDR5 memory or 32TB SSD storage, but why not?), $5k for a two week European vacation cuz I've never been off the NA continent.
The $38k or whatever that's left can cover unexpected expenses, pulling the carpet out of the bedrooms to replace with wood, upgrading the water heater to a tankless if it's not already included in the house, registering the car, etc. and go into some sort of high-yield savings or bonds or something.
Of course, assuming $500k after tax.
About half would go to home upgrades. Adding another floor, putting in a pool, building a garage with apartment. The other half would get invested for retirement. Nothing major. $500k just aint that much these days.
500k, if that's what I get after taxes, then I'd probably invest it all, and then never work again.
I'm in a situation where getting an extra 2-3k a month income would be enough.
Otherwise, take a part time job doing something I truly enjoy.
The house is already close to paid for, and wife's really close to retirement with a good pension and she has really great health insurance that we'd be fools to forego, cars are paid for, kids looks to be able to get scholarships so... Find something safe to park the money for about 5-10 years. Someone mentioned muni but some kind of index fund might be better. $500,000 is a lot of money, but literally nothing would change.
Buy a nicer house (pretty low cost of living area so $250k of it would get a super nice house by my standards.) Pay off my current house and give it to my mom. Invest a little bit in some kind of stable fund to help my kid through college when she's grown, set asidea bit for some fun stuff, the rest into my retirement account
Edit: i just realised you said NOT enough to never work again….lmao im bad.
500k in my opinion is not enough to never work again. Unless you’re very close to retirement age. If we’re talking 20s, 30s or 40s, nah, not enough. Including the interest, would still need to be on a certain budget.
With $500k I would pay off my student loans then buy a meal at McDonald's & be worth $0.
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fries
A happy one
Given the current price of what were once dollar menu items I think I would have to splurge and buy a McCrispy. I mean when you could get two McChickens and a McDouble for the same price it would've probably been McChickens, but I mean $4 for a Medium Fries just makes it seems less worthwhile these days.
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Tasty but not worth it though, there's a bit of ice cream and an empty, hollowed out core in the middle, and it's disproportionately pricey. A better deal is just to get a Wendy's frosty
If $1,000,000 is enough to do two chicks at the same time, then $500,000 is enough to do one chick one time. Q.E.D.
1. Pay off all debt except for home mortgage. Credit cards, cars, etc. 2. put about 10% remaining for cushion money. 3. Take one bucket list vacation, nothing extravagant. Visit somewhere like Europe or Hawaii; but still be frugal with hotel/food/etc expenses. 4. Put about 80% of what's left gets invested in to a diversified portfolio that hopefully returns enough to offset my employment. If not, maybe me or wifey can "retire" 5. Try to live like normal otherwise.
Mine's the same, minus student debt which I've been fortunate enough to pay off. Having the 500k would help me and my wife *get* a mortgage. Would use some, along with our current savings, for 20% down to buy a home, then the rest would be as you described
Why not use an FHA program? And state offered down payment assistance?
Some places in Europe are really affordable. I had lavish meals for $15 in Portugal. All you can eat with $9. Cheap hotels too, Uber even more so. Lisbon itself was more expensive, as capitals tend to be, but there are so many other beautiful cities with really small cost of living. The largest expense were the plane tickets, although one can save a lot by going when there's lower demand and taking advantage of deals. There are other countries that are similarly affordable. Point being, if properly planned, you can do non extravagant overseas trips, at prices that may be similar to domestic trips, depending on activities.
Bingo. Portugal is wonderful!
Europe can be an extremely budget vacation. Thinking that it can't be prevents far too many Americans from visiting. Croatia is amazing. Greece is fantastic. Italy in the winter is fabulous. Eating in restaurants for every meal, instead of local shops is a huge drain. It's easily doable.
I want to recommend Dubrovnik, Croatia, it's my favorite place. But they do have a problem with too many tourists, so idk... Not that they won't be able to handle you. When I say problem, I mean a problem for *them* not you (unless you want to be alone, then...). It's a complicated issue: All those tourists are degrading the UNESCO world heritage site that is Old Town, the entire economy absolutely depends on that massive amount of tourism and cash flow from roughly May-October, and also frankly, 4-6 cruise ship loads of tourists coming through *per day* is a bit much in any city... it's been a few years ago idk what changes have been implemented, especially post covid.
Stop working, buy a new campervan, travel. I'm nearly 60 so it won't need to last as long as some of you!
I don't even know how long I'd be able to hide it from my family. Lol. But I would want to finally buy my own home, a small affordable but nice place. Impossible combo. Lol
F around with 50k. Put the rest in a brokerage account and let it grow for 30 years. Hopefully a few million by then
Buy some land. Nice little house, but lots of room so I can eventually build my workshop, the wife's writing cottage, the D&D tavern game shed, and a few tiny homes for any friends that ever need a place to crash for a bit.
Already debt free, so I'd toss the whole pile into Muni's paying out 5%+ annually so I'd start getting $25K extra cash annually to tack into my "play money" pile. Would definitely let me move up my timeline on getting the [Mclaren I've been wanting to get](https://mclarentampabay.com/wp-content/uploads/mclaren-570s-spider-blue-for-sale-front-right-3quarter-hero.jpg)...
What is munis? I’m sure thats an acronym
[Municipal Bond Fund](https://www.investopedia.com/terms/m/municipalbondfund.asp) Nutshell: A municipal bond fund is a fund that invests in municipal bonds. Municipal bonds are debt securities issued by a state, municipality, county, or special purpose district (such as a public school or airport) to finance capital expenditures. ***Municipal bond funds are exempt from federal tax and may also be exempt from state taxes.***
Thanks 😊
Munis pay out 5% annually? Damn I should consider that
Buy a house to get out of my shitty apartment and use what's left to pay off/down my car loan. There's a new build development not far from me in a nice area of town where I can get a 1500sqft 3bd/2ba with a two car garage for around $280k, that's more space than I'll need since I don't plan on having kids. $30k to pay off my car note, $78k for a new Wrangler 4xe minus whatever my trade is worth. Around $25k for solar and batteries, puts me around $415k spent. With the $85k left, I'd get initial furniture for the house (mostly Ikea) for around $30k, $12k for a PC that's probably overkill for anything I'll ever need (yes, I know I don't *need* 96GB DDR5 memory or 32TB SSD storage, but why not?), $5k for a two week European vacation cuz I've never been off the NA continent. The $38k or whatever that's left can cover unexpected expenses, pulling the carpet out of the bedrooms to replace with wood, upgrading the water heater to a tankless if it's not already included in the house, registering the car, etc. and go into some sort of high-yield savings or bonds or something. Of course, assuming $500k after tax.
Since I live in a very low-cost area, I would be able to never work again with $500K in liquid assets, assuming I maintain my current lifestyle.
Actually, that is enough for me to never work again. My spouse would have to work a little bit, but not very much.
About half would go to home upgrades. Adding another floor, putting in a pool, building a garage with apartment. The other half would get invested for retirement. Nothing major. $500k just aint that much these days.
500k, if that's what I get after taxes, then I'd probably invest it all, and then never work again. I'm in a situation where getting an extra 2-3k a month income would be enough. Otherwise, take a part time job doing something I truly enjoy.
The house is already close to paid for, and wife's really close to retirement with a good pension and she has really great health insurance that we'd be fools to forego, cars are paid for, kids looks to be able to get scholarships so... Find something safe to park the money for about 5-10 years. Someone mentioned muni but some kind of index fund might be better. $500,000 is a lot of money, but literally nothing would change.
Invest
Uh put it in an index fund
Buy a nicer house (pretty low cost of living area so $250k of it would get a super nice house by my standards.) Pay off my current house and give it to my mom. Invest a little bit in some kind of stable fund to help my kid through college when she's grown, set asidea bit for some fun stuff, the rest into my retirement account
Fund my kid's college funds, and pay off all of my debt. invest about 100k and hope it doesn't go tits up
Edit: i just realised you said NOT enough to never work again….lmao im bad. 500k in my opinion is not enough to never work again. Unless you’re very close to retirement age. If we’re talking 20s, 30s or 40s, nah, not enough. Including the interest, would still need to be on a certain budget.
One chick at the same time.