Current Events > If you had $200,000 in your savings account, what would you do with it?

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indica
07/27/22 8:01:05 AM
#1:


Unless anyone else has that, and then I'd be interested on your plans with it

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R1masher
07/27/22 8:02:03 AM
#2:


Keep it there if the interest rate is really really good

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Aressar
07/27/22 8:06:34 AM
#3:


R1masher posted...
Keep it there if the interest rate is really really good

Interest on savings is pretty much non-existent in most banks these days. Investing it in an index funds is more profitable.

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famfam
07/27/22 8:07:00 AM
#4:


fill up my gas tank
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indica
07/27/22 8:07:09 AM
#5:


R1masher posted...
Keep it there if the interest rate is really really good
They never are, especially since Covid hit. You could put it in a CD for 5% before but now it's like .75%. Online checking accounts used to be like 2.5% but now are like 1%.

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Letron_James
07/27/22 8:07:19 AM
#6:


Id buy property

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Bad_Mojo
07/27/22 8:09:18 AM
#7:


Buy gold

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indica
07/27/22 8:09:27 AM
#8:


Aressar posted...
Interest on savings is pretty much non-existent in most banks these days. Investing it in an index funds is more profitable.
I have about 250k in a mutual fund, or at least I did last year--don't even want to look now. I guess I could drop it in there but I just get squimish with the market and half my money's in there already

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indica
07/27/22 8:09:54 AM
#9:


Letron_James posted...
Id buy property
I feel this might have been a good idea five years ago, but not right now

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Squall28
07/27/22 8:12:20 AM
#10:


Put it in an index fund

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Master_Bass
07/27/22 8:12:27 AM
#11:


Either buy a house or invest most of it. It's just losing value sitting there.

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Solution_45
07/27/22 8:19:50 AM
#12:


move 50kish to checking and buy a sports car
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indica
07/27/22 8:24:41 AM
#13:


Letron_James posted...
Id buy property

Master_Bass posted...
Either buy a house or invest most of it. It's just losing value sitting there.
I would love to get one of those tiny houses but all the property around me is pretty expensive. I'm not sure if either of you have any experience with property hunting, but say I could just get up and live anywhere in the U.S. (or other country that will allow me to live there if I spend 250k on property) where do you think I would get the best bang for my buck ATM? Any advice?

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ElatedVenusaur
07/27/22 8:24:57 AM
#14:


Pay off my student loans and use the rest to fund gender-affirming surgeries.

My dysphoria wont know what hit it

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Irony
07/27/22 8:26:14 AM
#15:


Car

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ZevLoveDOOM
07/27/22 8:27:04 AM
#16:


start my own pyramid scheme and scam the hell out of these suckers!
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CADE_FOSTER
07/27/22 8:29:25 AM
#17:


Land and build a house far away from filthy humans
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MedeaLysistrata
07/27/22 8:30:20 AM
#18:


Probably try to find a place to own, 200k isn't enough to buy anything outright in pretty much the entire country, so that's unlikely

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Cobra1010
07/27/22 8:42:17 AM
#19:


Buy gold bars and put in safety deposit boxes. They go up steadily. It's probably one of the safer investments.

https://gamefaqs.gamespot.com/a/user_image/0/2/0/AAPA_pAADf4c.jpg

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Kitt
07/27/22 8:43:56 AM
#20:


Leave it there.

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Jiggy101011
07/27/22 9:09:17 AM
#21:


Go get some sushi with the wife.

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NeonOctopus
07/27/22 9:13:19 AM
#22:


Buy a house. I have half that and that's what I'm trying to do right now >_> But even with that, I'm still having trouble competing cuz the market is so fucked right now

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bigblu89
07/27/22 9:18:29 AM
#23:


Probably invest it in some long term funds, as I don't necessarily need the money at the moment.

Maybe take half of it and put a major dent in my mortgage.

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Stewman_Magoo
07/27/22 9:20:15 AM
#24:


Buy new glasses, catch up on bills, fix my car I take to work, get the wife a nice birthday present.

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CE_gonna_CE
07/27/22 9:21:11 AM
#25:


Pay off debt with half, invest the other half.

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Prismsblade
07/27/22 9:21:51 AM
#26:


Buy a house, my area isn't as inflated as most others are around the country, so even if the crash does happen soon I probabaly wouldn't take that big a hit to be honest.

Alternatively I could just wait a few more months when it does and probably find a could property somewhere else to rent out.

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Alucard188
07/27/22 9:23:55 AM
#27:


I'm still relatively young, so I'd lock most of it away in long-term investment opportunities. I could afford to be a bit more aggressive with it than with my current investments, which are built for slow gain and limited loss.

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Cocytus
07/27/22 9:26:35 AM
#28:


Well, let's ask this first...do you FEEL like you need to do something with it?
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Blue_Thunder
07/27/22 9:29:52 AM
#29:


Buy a new car.

Pay off my college loans.

Buy stonks with the rest.

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EndOfDiscOne
07/27/22 9:45:26 AM
#30:


Half in Bitcoin, a quarter in Ethereum and Chainlink, a quarter in index funds.

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Anony1125
07/27/22 9:50:37 AM
#31:


Got about 250k in index funds, but it was 300k at the beginning of the year. Sad times.

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TheMikh
07/27/22 9:54:05 AM
#32:


pay off most of what's left of my mortgage

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Tyranthraxus
07/27/22 9:57:53 AM
#33:


Pay off the rest of my mortgage.

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crayola555
07/27/22 9:58:34 AM
#34:


Light up cigars with the bills

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FLAMING_EVIL_HOMER
07/27/22 10:02:00 AM
#35:


Probably put half on downpayment for a house and then invest 50k on something low risk.

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indica
07/27/22 12:29:47 PM
#36:


Anony1125 posted...
Got about 250k in index funds, but it was 300k at the beginning of the year. Sad times.
I feel ya--I'm in the same boat, but I think we're good as long we don't need to take it out anytime soon

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Giant_Aspirin
07/27/22 12:30:46 PM
#37:


move all but $20k into my investment account

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indica
07/27/22 12:31:38 PM
#38:


Cocytus posted...
Well, let's ask this first...do you FEEL like you need to do something with it?
Not necessarily--like I said, I also have that much in mutual funds, and I would think about property but the market is fucked now, so I was just seeing other people's thoughts

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Lil_Bit83
07/27/22 12:33:13 PM
#39:


Finish paying my kid's braces, set aside some for college funds and move.

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indica
07/27/22 12:33:16 PM
#40:


Giant_Aspirin posted...
move all but $20k into my investment account
I've thought about doing this--just doubling down, but, like I said, I'm squeamish and half of it's already in there

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indica
07/27/22 12:33:40 PM
#41:


Lil_Bit83 posted...
Finish paying my kid's braces, set aside some for college funds and move.
Where would you move to?

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Will_VIIII
07/27/22 12:36:27 PM
#42:


Pay off my mortgage and do some external renovations.

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bluezero
07/27/22 12:36:27 PM
#43:


Pay off my mortgage

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gator71
07/27/22 12:37:21 PM
#44:


I sure wouldn't advertise it on gamefaqs, with all the shady apes in here
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Slaya4
07/27/22 12:42:23 PM
#45:


I'd buy property and art

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Aressar
07/27/22 12:43:11 PM
#46:


gator71 posted...
I sure wouldn't advertise it on gamefaqs, with all the shady apes in here

Hmm, sounds like you're trying to hide that you have that much
*updates spreadsheet*

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CanuckCowboy
07/27/22 12:49:07 PM
#47:


Master_Bass posted...
Either buy a house or invest most of it. It's just losing value sitting there.

This except thats just a 40% down payment here. It ain't buying so much as a tiny lot these days.

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Dan_Haren-
07/27/22 12:50:31 PM
#48:


Depends on if you're specifically saving for a large purchase like a down payment and what your timeline is.

I won't tell you what to do but I'll tell you my plan. I plan to buy a house in the next 2 years so all my saved money is going to just sit in a bank for now. At that point all my saved money will go to index funds and I'm just gonna forget about it after that for the next 20 years.

I'm educating myself on economics and the stock market, in a few years time frame I may start putting like 20% of my "savings" into stocks.
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_Rinku_
07/27/22 1:17:36 PM
#49:


Honestly, I'd buy a car. I've been without my own personal car for several years and haven't had access to one for almost nine months (was sharing one with my soon-to-be-ex-wife and she took it with her). I'd probably just buy a brand new Honda Civic. That'd be like $30k max after taxes and everything, assuming I didn't get one of the fully-loaded models.

I want to say I would "invest" about 50k of it, but I genuinely have no idea where to start with that. I have no idea how the stock market works. I barely know what a CD or index fund is. Would it be a good idea to hire a financial advisor or would they just steal my money?

The rest of it, I would probably just sit on. I'm a very paranoid person and feel anxious without a nest egg to rely on. I currently have 4k in the bank, but I have to pay rent for my current place and move in costs for my new place. That'll wipe out about half of that. I have a decent balance on one of my credit cards, but I'm still in a 0% APR period, so if I pay it off at like... $50/week, I can knock it out by the end of the year or transfer the remaining balance to a new card. So I effectively still have a 2k cushion and I make about that much per month. You're supposed to have three months of salary in savings though.
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Sansoldier
07/27/22 1:28:57 PM
#50:


With all my investments down so much lately, keeping it in there doesn't sound like too bad of an idea.. but would like to get myself a decent house one day.

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