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Extra $100,000 a year? - Page 2

Poll Results: Extra $100,000 a year?

 
  • 14% (18)
    Save it!
  • 9% (12)
    Live more extravangantly - fun!
  • 1% (2)
    Donate most to charity.
  • 73% (89)
    Combination or other.
121 Total Votes  
post #21 of 36
4/27/07 at 7:45pm
Be able to buy a house.
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post #22 of 36
4/27/07 at 11:53pm
wow that's a lot of money.

definitely a combo. donate more to charity, save!!... and go on a nice vacation or two.
post #23 of 36
4/28/07 at 12:02am
Pay off our debt and take more mini vacations. We'd probably eat better too!
post #24 of 36
4/28/07 at 9:30am
Quote:
Originally Posted by eldadeedlit View Post
wow that's a lot of money.

definitely a combo. donate more to charity, save!!... and go on a nice vacation or two.
Some people actually make that much money a year and think it's not enough.

Not me of course, but I hear about stuff like that on tv.
post #25 of 36
4/28/07 at 1:39pm
That's more than 3x what we live on now. First I'd pay off the house. Invest in retirement/education. Then start working on the dreams we have of a more self-reliant lifestyle. I'd love to travel too.
post #26 of 36
4/28/07 at 2:18pm
Pay off our debt & buy land.
post #27 of 36
4/28/07 at 9:54pm
Build my cabin, buy my land, add more to my lil homestead every year!!!
post #28 of 36
4/28/07 at 10:15pm
If I had 100,000 a YEAR?

Hell, I just told my husband if we got 100,000 in a fell swoop we'd be set since we live within our means, and our only "don't have" is our own house, due to him being military and we move a lot.

Er...ok...

Let's say 100,000 extra for the next 20 years....

Put 10,000 into savings/529 for kid to use.
1st year:
Buy small house near in-laws...they are VERY close to our daughter, and I'd love to be able to go up for a couple weeks/month at a time a few times throughout the year...that uses it up for the first year...but after that....

Max out IRA, and then another 20,000 into our mutual funds...so, after year one...I've got 65,000 a year...

Second year, my RV. Yeah, baby.

Third year on:

Open a day care for welfare mothers who wish to go to school and/or work. Very reduced/free rates, and I'd hire other welfare moms. I've always said I'd do this if I won the lottery...it would obviously be on a small scale to start, but, hopefully, after a few years, I'd be able to expand it....don't know how much impact it would have,, but, every little thing changes the world.
post #29 of 36
4/29/07 at 1:27am
pay off the house and student loans; I'd spend a bundle on landscaping, including an enormous garden; and save, save, save
post #30 of 36
4/29/07 at 1:57am
Live "better"! I'm sick of having to cut corners. But I don't think it would be TERRIBLY different though, as it's hard to spend a lot of money on something that I can get for less.

I WOULD however, get a nicer car.
post #31 of 36
4/29/07 at 2:03am
An "extra" $100,000 a year? That would mean increasing my income by more than 10 times!

I would be able to move out of my parents' home, no longer need my parents to buy stuff for the kids, but I'd continue to live as frugally as possible and put as much money into savings as possible.

I have no clue what specifically I'd spend the money on or how I'd budget it, as it's so far away from my current life- what does health insurance cost if you don't qualify for medicaid?
post #32 of 36
4/29/07 at 3:55am
Buy a house in the country, buy some animals and stuff to get our farm started, buy DH a "new" truck, save!
post #33 of 36
4/29/07 at 10:25pm
Definitely quit my job and live off that! (Also saving some, giving some to charity, etc.)
post #34 of 36
4/29/07 at 11:03pm
I would save half for my kids college and other funding. Look into private school, too, but not a guarantee.

I would take the other 50,000 a year and split it between charity, bills, and travel.

We also would move to Evanston (a different Chicago suburb, the one I grew up in, where the cheapest decent house is 500,000 at least). But maybe we'd wait a couple years before doing that.

Who says money can't buy happiness?
post #35 of 36
4/30/07 at 12:01am
I would save some but mostly use it for fun especially to travel.
post #36 of 36
4/30/07 at 9:02am
Quote:
Originally Posted by ***Heather*** View Post
Some people actually make that much money a year and think it's not enough.

Not me of course, but I hear about stuff like that on tv.
For a lot of people (my family included) it's easy in this affluenza society for your lifestyle to expand to meet your income. DH and I have had to make a conscious effort to live off only one of our salaries, and we're just about there...only 5k off.

It's fun to dream though so...
  1. Meet with our financial planner to make sure the following makes sense!
  2. Buy health insurance.
  3. We'd both quit our jobs. I would work on my novel, and DH would research the brewpub he wants to open up and start getting investors. We'd also both spend a significant amount of time each week volunteering.
  4. Add a second bathroom to our house. Or maybe we would move to our dream neighborhood where the houses are small (like our current house) but expensive. But we really love our house now, so I dunno.
  5. Invest and donate whatever's leftover each year.
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