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

By alpo following x   2018 Jun 9, 3:30pm 1,090 views   30 comments   watch   sfw   quote     share    


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...
1   HEYYOU   ignore (18)   2018 Jun 9, 3:49pm   ↑ like (0)   ↓ dislike (0)   quote   flag        

Is it worth the risk to invest?
There are no guaranteed winners.
One can make almost nothing if it's readily available in a financial institution.
Withdraw it & pay a penalty?
Now if you are disgusted just send it to me.
2   joshuatrio   ignore (0)   2018 Jun 9, 5:00pm   ↑ like (1)   ↓ dislike (0)   quote   flag        

If you don't have an emergency fund, I'd suggest starting there.
3   HowdyThere   ignore (0)   2018 Jun 9, 5:18pm   ↑ like (5)   ↓ dislike (0)   quote   flag        

What should you do with a secret cash stash?

Have you considered announcing it to a bunch of strangers on the internet?
4   HeadSet   ignore (1)   2018 Jun 9, 5:19pm   ↑ like (0)   ↓ dislike (0)   quote   flag        

Bet 22 Black on the Roulette Wheel, win and turn that $5,700 into $199,500!
5   curious2   ignore (0)   2018 Jun 9, 5:20pm   ↑ like (6)   ↓ dislike (0)   quote   flag        

Donate it to PatNet.
6   Call It Crazy   ignore (5)   2018 Jun 9, 6:28pm   ↑ like (1)   ↓ dislike (0)   quote   flag        

Invest in hard shell tacos
7   MbS   ignore (3)   2018 Jun 9, 6:41pm   ↑ like (7)   ↓ dislike (0)   quote   flag        

Hookers and blow!
8   Tenpoundbass   ignore (11)   2018 Jun 9, 7:11pm   ↑ like (1)   ↓ dislike (0)   quote   flag        

Used to be an old wise adage "Money attracts money" save it.
9   ThreeBays   ignore (0)   2018 Jun 9, 9:44pm   ↑ like (0)   ↓ dislike (0)   quote   flag        

Tesla down-payment.
10   komputodo   ignore (0)   2018 Jun 9, 10:44pm   ↑ like (1)   ↓ dislike (0)   quote   flag        

if you are dating, buy a sex doll and save 20K in dating expenses the first year.
11   CBOEtrader   ignore (2)   2018 Jun 10, 6:38am   ↑ like (1)   ↓ dislike (0)   quote   flag        

Bet it on black, or golden state.
12   Strategist   ignore (3)   2018 Jun 10, 10:28am   ↑ like (2)   ↓ dislike (0)   quote   flag        

If you don't split it with us, we will tell your wife.
13   Patrick   ignore (0)   2018 Jun 10, 1:27pm   ↑ like (0)   ↓ dislike (0)   quote   flag        

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.
14   Aphroman   ignore (6)   2018 Jun 10, 2:07pm   ↑ like (2)   ↓ dislike (0)   quote   flag        

Sorry I didn’t see this yesterday.

1/all exacta at Belmont paid ~ 5/1

Then you’d have a 25,000 question.
15   MrMagic   ignore (11)   2018 Jun 10, 2:30pm   ↑ like (1)   ↓ dislike (0)   quote   flag        

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.
16   Tenpoundbass   ignore (11)   2018 Jun 10, 7:50pm   ↑ like (0)   ↓ dislike (0)   quote   flag        

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.
17   BlueSardine   ignore (2)   2018 Jun 10, 8:04pm   ↑ like (0)   ↓ dislike (0)   quote   flag        

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?
19   Strategist   ignore (3)   2018 Jun 10, 8:17pm   ↑ like (1)   ↓ dislike (0)   quote   flag        

On behalf of Rin.........Whores.
20   clambo   ignore (4)   2018 Jun 11, 4:56am   ↑ like (1)   ↓ dislike (0)   quote   flag        

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.
21   Aphroman   ignore (6)   2018 Jun 11, 7:22am   ↑ like (1)   ↓ dislike (0)   quote   flag        

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 we took the Mortgage it would be payed off. But it wasn't my intent at the time to do so. T...


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
22   Quigley   ignore (0)   2018 Jun 11, 7:50am   ↑ like (0)   ↓ dislike (0)   quote   flag        

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.
23   MbS   ignore (3)   2018 Jun 11, 10:47am   ↑ like (1)   ↓ dislike (0)   quote   flag        

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....
24   NuttBoxer   ignore (2)   2018 Jun 11, 11:49am   ↑ like (0)   ↓ dislike (0)   quote   flag        

They say you should have enough cash on hand to cover 3 months expenses.
25   Tenpoundbass   ignore (11)   2018 Jun 11, 12:41pm   ↑ like (0)   ↓ dislike (0)   quote   flag        

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.
26   Tenpoundbass   ignore (11)   2018 Jun 11, 12:46pm   ↑ like (0)   ↓ dislike (0)   quote   flag        

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.
27   Evan F.   ignore (0)   2018 Jun 11, 12:48pm   ↑ like (1)   ↓ dislike (0)   quote   flag        

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.
28   FortWayne   ignore (2)   2018 Jun 11, 12:48pm   ↑ like (0)   ↓ dislike (0)   quote   flag        

Emergency stash shouldn’t be touched. Rainy day funds only work if it’s liquid.
29   ThreeBays   ignore (0)   2018 Jun 11, 8:25pm   ↑ like (0)   ↓ dislike (0)   quote   flag        

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 we took the Mortgage it would be payed off. But it wasn't my intent at the time to do so. T...


I would invest in equities instead of paying down low rate mortgages. Interest rates were at their lowest point a few years ago. After I refinanced in 2016 my effective interest rate after tax deductions is 2.5%. So if I pre-paid my mortgage I'd effectively earn just 2.5% ROI on those extra payments. $1000 invested 30 years at 2.5% earns just $1098. $1000 invested in S&P500 for the past 30 years would earn $19,156.

Even after tax it would be worth many times more than pre-paying the mortgage. Best would be if you had room to add to your tax sheltered accounts like Roth, HSA, 529, etc.

If you have tax sheltered account limits to use (which I'd wager almost everyone does) I would pay into those instead of putting a penny into mortgage pre-payment. Total 401k limit is $55,000, Roth IRA $5,500, double those if married. HSA $3,450 single / $6,900 married. 529 $30k per kid.
30   ThreeBays   ignore (0)   2018 Jun 11, 9:22pm   ↑ like (0)   ↓ dislike (0)   quote   flag        

Tenpoundbass says
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.


The money you're using to pay down the mortgage is already free and clear. You're tying it up in the house, to earn a shitty return.




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