Let’s say you had a long lost uncle that left you a million dollars. After taxes and fees, you walk away with 800k.
You are not retired but getting close. You own everything but you have zero money saved for retirement.
What do you do with the 800k in order to retire.
And no this isn’t real, I wish. Just random talking after this last lottery winnings.
I’d have to find a good financial advisor as investing isn’t really my forte’. But, I would want to set aside money for both of my boys for college ($100,000? each), find a nice piece of property (on or within view of water) down that way ($100,000 +/-) and invest the rest as recommended by my advisor. Boring but, if no pension or retirement savings at this stage of my life, I’d have to put most of the money where it could work for me.
Now, if you give me that money based on my current situation I would do things a little differently.
“Apathy is the Glove into Which Evil Slips It’s Hand”.
spend half on woman, liquor, fishing and guns
waste the other half
Pioneer 197SF
keep doing what I’m doing for another few years. I’m dept free already. Probably get a new pickup, upgrade the boat, buy my dad and father in law both air conditioned tractors, give each of my children $150K, and keep the rest in cash in several banks to pay every living cost.
something like that, one can dream. What I really want is 3 billion. One to give to Uncle Sam, One to give away as I see fit, and One just for me and the wife.
keep working, build our dream house on the waterfront property we just bought. Buy two new vehicles, ours are currently a combined 40 yrs old. Put the rest in a retirement account so that we can pay the taxes/insurance on the house/property!
Buy this website and ban a few people.
Invest the rest in facebook cause skinne said so.
Charleston City Papers Best Guide of 2014
That would put me above my magic number, so Put it into a mix of good mutual funds and retire tomorrow. My 401k and Roth would continue to work for me until I need them and start drawing Social Insecurity at 62
I’m already debt free and kids college is almost fully funded.
Boat drinks, Waitress I need 2 more boat drinks!
Buy a nice Motor Home so I could pull my boat around the country and have place to stay over night or week. Fish and play golf in a bunch of new places.
quote:
Originally posted by CaptFritzBuy this website and ban a few people.
Invest the rest in facebook cause skinne said so.Charleston City Papers Best Guide of 2014
Pfft, buy apple on the next dip. Sell when it hits 200 next year.
Redfish Baron Extraordinaire
[quote]Originally posted by CaptFritz
Buy this website and ban a few people.
As I settle down for a good nights sleep after a most wonderful day, I can not help but reflect on your statement.
So enlighten us ALL, just who offends you so much that you would spend a large chunk of change just to ban a few people. Maybe Mugil? Bolbie? Me? or is it someone else that offends you to the point of buying out a web site. Dude you are a trip, a most shallow one at that.
Honestly Fritz, that sounds a little lot pathetic. But then again you have always been a bit on that line. As we all go through life most try to pass up the vacuum of our past.
Ok, I’ll do this. Is it the fact that you are scared of the lgbt community taking over the inshore shark charter service?
good night all. Dang what a good Valentines day this has been!!! Wife is sleeping like a baby, and I’m about to do the same. 
quote:Is that a clicker going off?
Originally posted by Fred67[quote]Originally posted by CaptFritz
Buy this website and ban a few people.
As I settle down for a good nights sleep after a most wonderful day, I can not help but reflect on your statement.
So enlighten us ALL, just who offends you so much that you would spend a large chunk of change just to ban a few people. Maybe Mugil? Bolbie? Me? or is it someone else that offends you to the point of buying out a web site. Dude you are a trip, a most shallow one at that.
Honestly Fritz, that sounds a
littlelot pathetic. But then again you have always been a bit on that line. As we all go through life most try to pass up the vacuum of our past.Ok, I’ll do this. Is it the fact that you are scared of the lgbt community taking over the inshore shark charter service?
good night all. Dang what a good Valentines day this has been!!! Wife is sleeping like a baby, and I’m about to do the same.
Charleston City Papers Best Guide of 2014
quote:
Originally posted by CaptFritzquote:Is that a clicker going off?
Originally posted by Fred67[quote]Originally posted by CaptFritz
Buy this website and ban a few people.
As I settle down for a good nights sleep after a most wonderful day, I can not help but reflect on your statement.
So enlighten us ALL, just who offends you so much that you would spend a large chunk of change just to ban a few people. Maybe Mugil? Bolbie? Me? or is it someone else that offends you to the point of buying out a web site. Dude you are a trip, a most shallow one at that.
Honestly Fritz, that sounds a
littlelot pathetic. But then again you have always been a bit on that line. As we all go through life most try to pass up the vacuum of our past.good night all. Dang what a good Valentines day this has been!!! Wife is sleeping like a baby, and I’m about to do the same.
Charleston City Papers Best Guide of 2014
No clicker, would be nice to have 3 billion dollars.
I wouldn’t try to buy this site from Andy, but I would donate a good chunk to him.
Large chunk of change?
http://www.siteprice.org/website-worth/www.charlestonfishing.com
Charleston City Papers Best Guide of 2014
Tough to make money on money in recent years. Most bonds and dividends at 4-6%. SC tax free bonds even lower. Taken a lot of effort to keep returns > 10% in recent years. If one is truly approaching retirement with nearly zero saved, I wouldn’t spend any of a $800 k windfall. Challenging to replace income from work with investment income these days.
Even Warren Buffett worked into his 80’s!! 
quote:
Originally posted by CaptFritzLarge chunk of change?
http://www.siteprice.org/website-worth/www.charlestonfishing.comCharleston City Papers Best Guide of 2014
I don’t understand where you are going with this? So back to Fishb8’s original question, I guess you’d take your $800k and by out CFC so you could ban certain members!
Your crazy man! So much hate is bad for you. Go fishing and relieve some stress! I just bought a kayak, I have 2 dozen goldfish and 1 dozen shiners. I’m going to catch me a mess of bass, jack, and hopefully some crappy way up in the swamp. I hope. If not oh well.
if Fritz wins the Lottery Andy will be a rich man!
Abe Lincoln believed everything he read on the internet as well.
Charleston City Papers Best Guide of 2014
I’d buy a 25 Freeman…
Not quite retired, so you’re in your mid 50’s or so? If that estimate is correct I would recommend putting $200K into a No Load Vanguard S&P 500 index mutual fund, $80K into a No Load Vanguard Mid Cap index mutual fund, $80K into a No Load Vanguard Small Cap index mutual fund,$280K into a No Load Vanguard Intermediate Term Bond mutual fund, $100K into a 5yr. maturity FDIC insured bank CD, and the last $60K into a money market mutual fund. I’d roll over the 5yr. CD when it matures into another one. I’d keep working as long as you can keep full time employment with benefits, and then transition to part time work, or start your own business. I’d wait until I was 70 yrs. old to begin Social Security, and begin Medicare at 65. I’d buy a good long term care insurance policy me and my wife when I hit 65, and purchase a Medicare Advantage policy for each of us when we reach 65. I’d limit myself to a 4% withdrawl rate from my retirement funds beginning at age 70, and reduce that if possible during down years in the market. You don’t need a financial adviser, open an account with Vanguard direct, and buy your mutual funds on line. KISS method…keep it simple stupid, and don’t waste money on fees.
Sol Mate
Mako 20B
225 Optimax
If I had 800K after taxes, I would have nothing. The meanwifeboss would have it.
It is the truth.
j