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re: Is $100,000 (one time payment) life changing money?
Posted on 6/10/24 at 5:41 pm to Blast from the past
Posted on 6/10/24 at 5:41 pm to Blast from the past
I can tell you from personal experience that amount isn’t what you would hope it is.
We sold our house and made 125k 2.5 years ago.
Paid my truck off ,down payment for new house and a few credit cards.
With inflation as bad as it is we always seem to hit it more than we would want.
It Goes quick my buddy.
We sold our house and made 125k 2.5 years ago.
Paid my truck off ,down payment for new house and a few credit cards.
With inflation as bad as it is we always seem to hit it more than we would want.
It Goes quick my buddy.
0
Posted on 6/10/24 at 5:42 pm to Blast from the past
Nope
Posted on 6/10/24 at 5:42 pm to Blast from the past
Probably depends on where you are at in life. $100,000 to a 23 year old with $25k of student debt would absolutely be life changing money. That cuts out several years of paying off loans as well as saving for a downpayment on a house.
Posted on 6/10/24 at 5:43 pm to Blast from the past
Getting that kind of money can be like having sex with a supermodel.
Yes you have achieved probably the best sex partner of your life, but now you feel cheap on the inside and may live up to that standard again.
And most people including myself would probably blow it on some man toys and be broker than before getting 100k.
Yes you have achieved probably the best sex partner of your life, but now you feel cheap on the inside and may live up to that standard again.
And most people including myself would probably blow it on some man toys and be broker than before getting 100k.
Posted on 6/10/24 at 5:46 pm to Blast from the past
quote:
Is $100,000 (one time payment) life changing money
Depends where you are starting at.
For someone would absolutely be life changing. Others it would help but overall not “life changing”
Posted on 6/10/24 at 5:50 pm to Blast from the past
I think 100k would end some peoples lives (think heroin addict). I think it would positively change some (young person who invests it or uses it to generate more money). Could stabilize others (older person with little savings). For most of the “middle class” it would just feed their need to overspend, even if used to pay debt at first.
This post was edited on 6/10/24 at 5:52 pm
Posted on 6/10/24 at 5:51 pm to Blast from the past
When buying Saban autos online $100k doesn’t go as far as you would think.
You can’t even cover one wall of a doublewide
You can’t even cover one wall of a doublewide
Posted on 6/10/24 at 5:52 pm to Blast from the past
It would be nice but wouldn't change our lifestyle.
Posted on 6/10/24 at 5:53 pm to Blast from the past
I’d say yes if you invest it the right way.
For me that’s money to begin flipping houses full time and totally changes the game for me, I would think I could double that in a year and triple it in 3
For me that’s money to begin flipping houses full time and totally changes the game for me, I would think I could double that in a year and triple it in 3
Posted on 6/10/24 at 5:55 pm to Dawgfanman
Throwing this out there. What about $800k at age 67? Invest original 100k right after college.
Posted on 6/10/24 at 5:55 pm to Blast from the past
I vote no. It’s nice. And can def make some things easier or like you said pay off a debt and increase your monthly take home. But to me Life changing would mean substantial life changes like quit working or something like that. Nobody would turn it down but I’m just not sure I’d say it’s life changing.
And of course that depends on the person. A person living in poverty then maybe yes. But for the average to above average earners I would say prob not.
And of course that depends on the person. A person living in poverty then maybe yes. But for the average to above average earners I would say prob not.
Posted on 6/10/24 at 5:56 pm to Blast from the past
It would pay off everything that I have, including my house, so I'd say yeah. I could retire tomorrow if not for my mortgage.
Posted on 6/10/24 at 6:01 pm to Blast from the past
Before or after tax?
Posted on 6/10/24 at 6:02 pm to Blast from the past
I’d use it for a career transition. Invest in myself to make a lot more money in the long run.
Posted on 6/10/24 at 6:06 pm to Blast from the past
It would change quite a bit for me.
That’s a serious game changer
That’s a serious game changer
Posted on 6/10/24 at 6:07 pm to Blast from the past
I don't even make a 100k a year and I wouldn't assume 100k would be exactly life changing money
Posted on 6/10/24 at 6:11 pm to Blast from the past
it probably shouldn't change your life in a material sense
Posted on 6/10/24 at 6:14 pm to Blast from the past
VA claim came through? With back pay?
Posted on 6/10/24 at 6:21 pm to el Gaucho
quote:
100k now is like 40 bucks in 2005
Joking... But I can tell you I was a whole lote more excited about finding 40 bucks in 2005 than I would be about 100k now.
40 bucks was 6 twelve packs of high life light.
100k just removes all non housing debt.
Posted on 6/10/24 at 6:22 pm to Arktigers
quote:
What about $800k at age 67? Invest original 100k right after college.
That should grow to over $3m.
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