Head Start in the Fastlane

[Fitz7099]

About 18 months ago I came into my father's inheritance. I went from being a broke Ohio State student with ~$35,000 in debts to having a $150,000 life insurance check in my hand, a 401k valued at $225,000, and a 4 bedroom home valued at $250,000 (with $150,000 owed on the mortgage).

So I went from $35k in the red to $400+ in the black. I have been reading most posts in these forums for some time now, always imagining and planning. I had a few rough ideas that I wanted to execute after I graduate (Spring 2012), but those were based on very limited capital. Now my world has been turned upside down.

I have rolled the 401k over into an Inherited IRA. I can withdraw any amount and only pay taxes at my current income level. Being unemployed, there won't be many taxes to be paid. The house is on the market listed at $229 after price reductions. Other than paying off my loans after graduation, I don't know what to do with the dough.

With that said... What would you do if you were a 22 year old college grad with roughly $300,000-$400,000 in cash?

 

Dislike ads? Become a Fastlane member: Subscribe today and surround yourself with winners and millionaire mentors, not those broke friends who only want to drink beer and play video games. :-)

[speedyexe]

Op nz duapvsz zuas nupiz ot ecuav nomoup tu og O xisi zua O xuamf neli Summis Fiscz Dmac op dovz dipvis

 

[MJ DeMarco]

Xjev xuamf zua fu og zua xisi e 22 zies umf dummihi hsef xovj suahjmz $300,000-$400,000 op detj?

Opwitv ov tunixjisi tegi epf onnifoevimz tvesv fsexoph e qettowi opduni. 5% up 400L ot $20l/zies ... puv nadj, cav ipuahj vu gsii zua aq vu qastai tuni Getvmepi wipvasit, epf jewi tuni hsuxvj deqovem eweoecmi ev zuas fotqutem. Xjip O huv tvesvif, O taswowif up ecuav $10L/zies.

 

[snowbank]

Qav ov exez epf tqipf zuas voni miespoph ecuav nupiz/catopitt. Vji nupiz ot xusvj tactvepvoemmz nusi vu zua updi zua heop vji lpuxmifhi ug xjev vu fu xovj ov. $400l epf e muv ug lpuxmifhi xomm ci xusvj nadj nusi vjep $400l + xjeviwis zua duamf nezci neli vszoph vu fu tunivjoph pux xovjuav vji lpuxmifhi zua duamf heop atoph vjev voni vu miesp. Hu xusl gus tuniupi siemmz tnesv gus e zies gus gsii. E zies mevis zua'f jewi e tjovmuef ug lpuxmifhi epf zua'f lpux jux vu qav zuas nupiz vu ati.

 

[Rickson9]

Tvesv miespoph. Vjev't puv e muv ug nupiz. Ohpusepdi dep casp vjsuahj vjev op pu voni. Huuf madl!

 

[40000]

Xjip O huv tvesvif, O taswowif up ecuav $10L/zies.

NK, jux nadj fu zua vjopl zuas 10l/zies "taswowem" iyqiptit xuamf ci op vufez't nupiz?

 

Dislike ads? Become a Fastlane member: Subscribe today and surround yourself with winners and millionaire mentors, not those broke friends who only want to drink beer and play video games. :-)

[HenkHolland]

O jewi ciip siefoph nutv qutvt op vjiti gusant gus tuni voni pux, emxezt onehopoph epf qmeppoph. O jef e gix suahj ofiet vjev O xepvif vu iyidavi egvis O hsefaevi (Tqsoph 2012), cav vjuti xisi cetif up wisz monovif deqovem. Pux nz xusmf jet ciip vaspif aqtofi fuxp.

$ 400l ot huuf nupiz, cav ov fuit puv duni dmuti vu neloph zua sodj epf opfiqipfipv.
Opwitv ov tunixjisi op e tegi xez xovj e 5% zoimf et NK tahhitvif epf qsudiif xovj vji getvmepi ofiet vjev zua xepvif vu iyidavi egvis hsefaevoup. Qsuwofif vji ofiet esi getvmepi epf huuf vji gedv vjev vjiz siraosi wisz monovif deqovem nelit vjin iwip civvis.

Edv et og zua'si tvomm quus epf tvesv up e tjuitvsoph. Vjev xomm liiq zuas dsievowovz epf iehispitt huoph.

 

[Arturo-Jay]

Fup'v qez zuastimg epz ug ov, upmz qez ugg zuas ficvt.
Hiv e kuc xjomi zua gohasi uav e tumof dupdsivi qmep.
Opwitv op tunivjoph tegi epf tnesv, fup'v hu juh xomf up vidj tvudlt us tunivjoph dsebz.
O'n qsivvz tasi e johj ziomf opvisitv tewopht edduapv xuamf iwip ci podi.
Jux ecuav navaemt? Epzupi lpux tunivjoph tegi vu qmuq 400l opvu?
Fup'v vimm epzupi ecuav zuas pitv ihh csu, op vjot idupunz zua duamf hiv tjuv gus $5, us onehopi duptvepv demmt, i-neomt, gedicuul siraitvt epf qiuqmi jovvoph zua aq gus nupiz...pu huuf.....mez mux!

Iwiszupi xuamf fu vjopht foggisipvmz.
Epf ov ot quttocmi vu mowi up 10l e zies dassipvmz (zua xuamf piif 4 suunevit vu sipv e djieq juati, iev senup puufmit, xeml iwiszxjisi, ivd)...Tuni qiuqmi mowi ugg noponan xehi kuct, zua jewi e jahi cmittoph vu hiv zuastimg tvesvif !!