2
0

Any bright ideas what I should do with my $5700 secret cash stash?


 invite response                
2018 Jun 9, 3:30pm   3,971 views  24 comments

by alpo   ➕follow (0)   💰tip   ignore  

1. continue stashing it away for emergency (bank run, earthquake, end of civilization, emergency money to bribe cops, hire goons, etc).
2. payoff another $5700K off mortgage.
3. other reasons...

Comments 1 - 24 of 24        Search these comments

1   joshuatrio   2018 Jun 9, 5:00pm  

If you don't have an emergency fund, I'd suggest starting there.
2   HowdyThere   2018 Jun 9, 5:18pm  

What should you do with a secret cash stash?

Have you considered announcing it to a bunch of strangers on the internet?
3   HeadSet   2018 Jun 9, 5:19pm  

Bet 22 Black on the Roulette Wheel, win and turn that $5,700 into $199,500!
4   curious2   2018 Jun 9, 5:20pm  

Donate it to PatNet.
5   CaltRightCrazy   2018 Jun 9, 6:28pm  

Invest in hard shell tacos
6   RWSGFY   2018 Jun 9, 6:41pm  

Hookers and blow!
7   Tenpoundbass   2018 Jun 9, 7:11pm  

Used to be an old wise adage "Money attracts money" save it.
8   komputodo   2018 Jun 9, 10:44pm  

if you are dating, buy a sex doll and save 20K in dating expenses the first year.
9   CBOEtrader   2018 Jun 10, 6:38am  

Bet it on black, or golden state.
10   Strategist   2018 Jun 10, 10:28am  

If you don't split it with us, we will tell your wife.
11   Patrick   2018 Jun 10, 1:27pm  

1. Yes, good to have it around just in case.

2. Yes, paying off the mortgage is an excellent investment, earning at least the amount of interest you're paying, and maybe more if your interest is not entirely tax deductible. Debt-free is a great feeling.

3. Yes, take a trip to Europe or somewhere you've always wanted to go before you get too old to really enjoy it. They can't take your experiences away from you.

So all your options are good.
12   MrMagic   2018 Jun 10, 2:30pm  

Only one sure solution....

Get one of these:



Then pick up some of this:



And you'll have no problem getting:



and expand that $5700 into any amount you want.
13   Tenpoundbass   2018 Jun 10, 7:50pm  

Patrick says
2. Yes, paying off the mortgage is an excellent investment, earning at least the amount of interest you're paying, and maybe more if your interest is not entirely tax deductible. Debt-free is a great feeling.


Yes I don't know how much your Mortgage is right now, but a nice chunk of change drastically changes things on the Interest you pay the principal you owe going forward on subsequent payments.
The end of 2014 the wife and I decided we were going to start knocking down our 30 year mortgage that originated in 2010.
We started throwing $2K to $3K every month on top of the mortgage payment due. It's amazing how much each payment knocks the interest owed down compared to if we didn't not pay it, from month to month. As of now we should be paid off in 2020, I wish we started in 2010 when we took the Mortgage it would be payed off. But it wasn't my intent at the time to do so. That came about because the Insurance company keeps playing games because they know mortgage payers are between a rock and a hard place. So from about 2011 to 2014 every year the insurance company would make us jump through hoops and upgrade a lot of shit while raised us at least 20% each year. Even though we made upgrades and improvements. Which if we didn't the premiums would have doubled and tripled. So I'm paying it off and ditching the insruance company. Just keeping basic home owners insurance. They can shove wind coverage up their ass. My house is still here from 1954.
14   Y   2018 Jun 10, 8:04pm  

What would really be helpful is if you provided 10 years of income tax returns so we can properly steer you in the right direction...
HowdyThere says
What should you do with a secret cash stash?

Have you considered announcing it to a bunch of strangers on the internet?
15   MisdemeanorRebel   2018 Jun 10, 8:13pm  

Duh, YAMS!
16   Strategist   2018 Jun 10, 8:17pm  

On behalf of Rin.........Whores.
17   clambo   2018 Jun 11, 4:56am  

Buy a Vanguard Variale annuity and choose the Capital Growth portfolio. The minimum investment is $5000 . This portfolio is managed by Primecap in Pasadena who are excellent money managers.

The contents of a variable annuity are not reported to the IRS, unlike a bank account, IRA, 401K, etc. Nobody will know you have it until you take income from it or just get a lump sum.

Deposit your secret stash in two or three deposits to your checking account first. Then send the check for the annuity.
18   Shaman   2018 Jun 11, 7:50am  

Homeowners insurance in Florida can be punishingly expensive due to hurricanes, so paying off a house makes a lot of sense since you could then drop the hurricane insurance.
19   RWSGFY   2018 Jun 11, 10:47am  

Quigley says
Homeowners insurance in Florida can be punishingly expensive due to hurricanes, so paying off a house makes a lot of sense since you could then drop the hurricane insurance.


What happens if it's ruined by a hurricane? It's not like it can be replaced from the pocket change like in case of an old jalopy....
20   NuttBoxer   2018 Jun 11, 11:49am  

They say you should have enough cash on hand to cover 3 months expenses.
21   Tenpoundbass   2018 Jun 11, 12:41pm  

Hassan_Rouhani says
What happens if it's ruined by a hurricane? It's not like it can be replaced from the pocket change like in case of an old jalopy....

You would be better off financing a new roof. $30K or $40K still cheaper than 10 years of premiums. In another ten years if nothing is done. it will cost $10K a year to insure a 2000sqft house. It's all pure profit for them. It's taken me over 9 months to get claim approved. I could have payed out of pocket and been done by now.


If insurance was a lot cheaper but it was one of those things you don't rock the boat or your premiums would go up. I would have just paid out of pocket. But the adjuster said due to the type of flat roof I have they have to replace the main Barrel Tile roof to tie into the flat roof. I was planing on replacing the roof anyway in within ten years when I bought the house. It's original from 1954, nothing wrong with the roof. But the tiles are concrete and are starting to deteriorate from acid in the rain and mold. A few years ago I got up there and filled everything in with White tile thin set to make it all solid again. If a huge serge swamped and flooded my house, would probably be a blessing in disguise. I have a 10K sqft lot and could easily put a 4 Plex townhouse flip it for about 2 million and move on to better things.

Insurance is Slavery too! Especially when you have credit and other financial options at your disposal. Insurance is about risk. If you spent that risk money over a 30 year hurricane drought, which is common. That huge premium could have been invested into schemes that could replace ten roofs.
22   Tenpoundbass   2018 Jun 11, 12:46pm  

Aphroman says
I’m just not a big fan of paying down my primary mortgage @3.5%, when my investments are all paying large double digit returns. To each their own


That's the wrong way to look at it. Pay off a $3500 a month mortgage you free up $3500 a month. What investment is giving you $3500 free and clear money?
People only look at the interest they are paying or would be saving a month. But not the void of not having that nut to crack every month in the first place.
23   Evan F.   2018 Jun 11, 12:48pm  

Aphroman says
Tenpoundbass says
Patrick says
2. Yes, paying off the mortgage is an excellent investment, earning at least the amount of interest you're paying, and maybe more if your interest is not entirely tax deductible. Debt-free is a great feeling.


Yes I don't know how much your Mortgage is right now, but a nice chunk of change drastically changes things on the Interest you pay the principal you owe going forward on subsequent payments.
The end of 2014 the wife and I decided we were going to start knocking down our 30 year mortgage that originated in 2010.
We started throwing $2K to $3K every month on top of the mortgage payment due. It's amazing how much each payment knocks the interest owed down compared to if we didn't not pay it, from month to month. As of now we should be paid off in 2020, I wish we started in 2010 when w...

I’m just not a big fan of paying down my primary mortgage @3.5%, when my investments are all paying large double digit returns. To each their own


THIS. Paying off a mortgage may feel good b/c you're unloading debt, but a retarded monkey could get 7-8% returns on any halfway decent largecap fund or ETF these days, which is close to double your run-of-the-mill mortgage rates.

My wife is desperate for us to pay off her law school loans, but she hit the jackpot when she consolidated them about 11 years ago and locked in a 2.5% interest rate at 30 years. I refuse to pay it off because that's more-than-free fucking money.
24   FortWayne   2018 Jun 11, 12:48pm  

Emergency stash shouldn’t be touched. Rainy day funds only work if it’s liquid.

Please register to comment:

api   best comments   contact   latest images   memes   one year ago   random   suggestions