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Discussion Boards => Off-Topic => Topic started by: sherryinutah on July 16, 2019, 12:18:01 am

Title: If you suddenly had $200,000
Post by: sherryinutah on July 16, 2019, 12:18:01 am

If you woke up one day and learned that you acquired $200,000?

How would you manage it?

I would begin by researching whether or not I have to pay taxes on it.  I would definitely want to make that my highest priority. 

Would you tell anyone you have it?  If so....who would you tell?

I think I would keep that information to myself.

I'm not very materialistic but I would want to make sure all my bills are paid off and I would open a brokerage account so I could invest some of it.

Realistically.....What would you do?

Title: Re: If you suddenly had $200,000
Post by: pkrahmer on July 16, 2019, 03:02:56 am

if i suddenly came into some money i  would keep it to myself.
i would pay some bills, invest some of it and go on a vacation with the family :rainbow: :peace: :wave:

Title: Re: If you suddenly had $200,000
Post by: jenniferhoder on July 16, 2019, 03:04:35 am

I would pay off as much debt as I could so I could enjoy life! I would pay the taxes on it and just take whatever was left. It would go far for me; I don't have much debt. I would take a tropical vacation too with my kids!

Title: Re: If you suddenly had $200,000
Post by: countrygirl12 on July 16, 2019, 06:05:11 am

Quote from: sherryinutah on July 16, 2019, 12:18:01 am

If you woke up one day and learned that you acquired $200,000?

How would you manage it?

I would begin by researching whether or not I have to pay taxes on it.  I would definitely want to make that my highest priority. 

Would you tell anyone you have it?  If so....who would you tell?

I think I would keep that information to myself.

I'm not very materialistic but I would want to make sure all my bills are paid off and I would open a brokerage account so I could invest some of it.

Realistically.....What would you do?

Unless someone just gives it to you then you have to pay taxes on it.  If it is winnings or income. 

I would pay off all debt.  I probably would not tell anyone if I all of a sudden had that much money.  Nobody needs to know.

Title: Re: If you suddenly had $200,000
Post by: tjshorty on July 16, 2019, 06:43:35 am

I would try my best not to let anyone know.  My kids seem to zero in on my money I would like to hold on to it for a few days at least.  Then yes I would look into making my money grow and investments.  I would travel.  I always thought I would buy a house but that isn't important to me anymore as my kids are grown.

Title: Re: If you suddenly had $200,000
Post by: bretay on July 16, 2019, 07:04:01 am

after i came to from passing out...lol...oh wow...gome improvements...maybe a house in the country..spend some on my 2 granddaughters and 2 daughters...and of course hubby and i...and put some in savings...would love to invest..

Title: Re: If you suddenly had $200,000
Post by: elvisdo on July 16, 2019, 10:21:54 am

Debt is first, then I would invest it for the near future.

Title: Re: If you suddenly had $200,000
Post by: alice44 on July 16, 2019, 11:19:39 am

I'd pay God his 10% and use the rest to pay off medical bills  :cat:

Title: Re: If you suddenly had $200,000
Post by: clickers on July 16, 2019, 11:49:59 am

Do God's benevolence, then buy me a condo out right and the rest is gravy you know, a trip or two paid in full without credit cards :present:

Title: Re: If you suddenly had $200,000
Post by: cathy37 on July 16, 2019, 12:02:28 pm

If I suddenly woke up and had $200,000, I would first make sure it is legit.  Of course you would have to pay taxes on it because you know the government is going to get it's share.  Then with what is left I would pay off all my debts.

Title: Re: If you suddenly had $200,000
Post by: Se1998 on July 16, 2019, 01:11:01 pm

If i ever received that amount i would keep to myself but i wouldn't use it for myself i would try to use it for others and also bills cant forget about those thats the most important. 

Title: Re: If you suddenly had $200,000
Post by: mardukblood2009 on July 16, 2019, 05:29:01 pm

That is not really a lot of money but I would help my girlfriend out with some of her problems and the rest I would just put in the bank or my mutual fund.

Title: Re: If you suddenly had $200,000
Post by: bman1349 on July 16, 2019, 05:39:54 pm

I would get absolutely tanked right off the bat

Title: Re: If you suddenly had $200,000
Post by: teresa3200 on July 16, 2019, 05:42:35 pm

I would build a new house because I don't like mine. I would tell everyone because after I built a house there wouldn't be much left to share.

Title: Re: If you suddenly had $200,000
Post by: potluck6 on July 16, 2019, 08:52:55 pm

I know someone who got 300,000. They sold a million dollar home in silicon valley. gave 100,000 to familly  maybe did some work on their own house. didn't travel yet. as far as taxes go not sure how much they have to pay.  they seem normal  so no fancy cars etc.  it can go fast if you dont watch out.

Title: Re: If you suddenly had $200,000
Post by: countrygirl12 on July 17, 2019, 05:03:22 am

Quote from: mardukblood2009 on July 16, 2019, 05:29:01 pm

That is not really a lot of money but I would help my girlfriend out with some of her problems and the rest I would just put in the bank or my mutual fund.

That actually IS a lot of money.  If you think $200,000 is not a lot of money you must already be pretty rich. And I would wonder who with that kind of money spends time trying to earn pennies on a site like this. lol

Title: Re: If you suddenly had $200,000
Post by: gaylasue on July 17, 2019, 05:19:30 am

The first thing I would do would be to book my airline tickets to Hilo, Hawaii.  Then I would sit with my butt on the sand and toes in the water and contemplate the future.

Title: Re: If you suddenly had $200,000
Post by: squirrelgirl44 on July 17, 2019, 08:43:58 am

That would be enough to pay off my mortgage. Then I could live debt free. (But I agree with you about doing research about taxes).

Title: Re: If you suddenly had $200,000
Post by: nmbrown863 on July 17, 2019, 06:36:59 pm

Pay off my house and my debt would be number one! I would take a vacation with whatever is left and save some as well.

Title: Re: If you suddenly had $200,000
Post by: rghvac69 on July 17, 2019, 06:53:42 pm

I would pay off my house and put some in savings and the rest in a mutual fund.

Title: Re: If you suddenly had $200,000
Post by: Cbsteffen on July 17, 2019, 11:13:22 pm

I would donate all of it to a poverty charity. There are so many poor people who urgently need money!

Title: Re: If you suddenly had $200,000
Post by: darkxtsuna on July 18, 2019, 04:12:24 am

Would pay off my loans and stuff and get my family something they want.

Title: Re: If you suddenly had $200,000
Post by: tnshpalmer85 on July 27, 2019, 10:38:40 am

I wouldn't tell anyone about it. I would pay off my debt first. Then I would buy a small home and invest the rest for the future. I can't retire on that amount but it would give me a good boost financially.

Title: Re: If you suddenly had $200,000
Post by: countrygirl12 on July 27, 2019, 11:27:06 am

Quote from: potluck6 on July 16, 2019, 08:52:55 pm

I know someone who got 300,000. They sold a million dollar home in silicon valley. gave 100,000 to familly  maybe did some work on their own house. didn't travel yet. as far as taxes go not sure how much they have to pay.  they seem normal  so no fancy cars etc.  it can go fast if you dont watch out.

They sold a million dollar home and only got $300,000 ???

You do not have to pay taxes on real estate profits.

Title: Re: If you suddenly had $200,000
Post by: bremer51 on July 27, 2019, 01:28:48 pm

I'd probably share some with my family and invest the rest.  I might buy a new designer handbag.

Title: Re: If you suddenly had $200,000
Post by: vickysue on July 27, 2019, 02:57:39 pm

I would  pay the taxes of course, then pay off  what little bit  I owe in debt. Hire someone to remodel the inside of my house. . of course their is the 10% to the  church.  put the rest in the bank  and take short  trips with it. I have been   to 47 of the  states and the rest I don't care  about going to. So just 3-4 day trips.  Whatever  that is left will be left to my daughter-in-law.

Title: Re: If you suddenly had $200,000
Post by: ktheodos on July 27, 2019, 04:56:59 pm

Pay off all CC then invest it!

Title: Re: If you suddenly had $200,000
Post by: alaskah on July 27, 2019, 09:43:54 pm

I would pay off my parents house and/or buy them a new one.

I would buy myself a new house and a new vehicle. My boyfriend a new vehicle as well.

The rest I would put into a high-yield savings account to earn interest off of it.

Title: Re: If you suddenly had $200,000
Post by: dreamyxo on July 27, 2019, 10:54:02 pm

Pay off my credit cards and move.

Title: Re: If you suddenly had $200,000
Post by: Galaban on July 28, 2019, 09:49:47 am

I would like to fly to others countries in the first class int the airplane and stay in the nicest beaches.

Title: Re: If you suddenly had $200,000
Post by: king4cash on July 29, 2019, 07:13:00 am

First I would clear all my debt and then invest in a house...

Title: Re: If you suddenly had $200,000
Post by: hkckk5 on July 29, 2019, 12:45:26 pm

I would pay off some bills and put some in the bank. I would take a rather long vacation too.

Title: Re: If you suddenly had $200,000
Post by: Mizzkizz7 on July 29, 2019, 04:28:42 pm

Pay off my car payment and put money up, buy another car and a brand new townhome.

Title: Re: If you suddenly had $200,000
Post by: tantricia44 on July 31, 2019, 08:26:07 am

Wow! I'd hire my Older sister to be my personal financier planner. I'd invest it & I won't act like those inherited spoiled brat billionaires,millionaires, trillion aires blowing everything over priced. I still go to the trift store, good will, dollar store, walmart, target etc even if I loaded.

Title: Re: If you suddenly had $200,000
Post by: annadote on July 31, 2019, 09:45:43 am

Quote from: countrygirl12 on July 16, 2019, 06:05:11 am

Quote from: sherryinutah on July 16, 2019, 12:18:01 am

If you woke up one day and learned that you acquired $200,000?

How would you manage it?

I would begin by researching whether or not I have to pay taxes on it.  I would definitely want to make that my highest priority. 

Would you tell anyone you have it?  If so....who would you tell?

I think I would keep that information to myself.

I'm not very materialistic but I would want to make sure all my bills are paid off and I would open a brokerage account so I could invest some of it.

Realistically.....What would you do?

Unless someone just gives it to you then you have to pay taxes on it.  If it is winnings or income. 

I would pay off all debt.  I probably would not tell anyone if I all of a sudden had that much money.  Nobody needs to know.

Technically, any money you get (yes even birthday money) is supposed to be reported on your taxes. Most people don't and a person paying you for something doesn't have to report it unless it is over $600. If someone gave you $200,000 it would probably be flagged by the IRS at some point in the transaction.

Title: Re: If you suddenly had $200,000
Post by: singletonb on July 31, 2019, 11:33:52 am

I would only let my daughters and husband know. I would get as many bills paid and plan a family trip.

Title: Re: If you suddenly had $200,000
Post by: LaTashaS28 on July 31, 2019, 12:50:32 pm

I would pay my bills, pay off debt, spend a little on me, go on a trip and put the rest in the bank.

Title: Re: If you suddenly had $200,000
Post by: Sawman214 on July 31, 2019, 03:18:57 pm

I would invest it into something