Pay off as much debt as I could. I can then use my income to build up my nest egg, since I won’t be sending it off to the bank.
Less than a years pay but it would be nice to have.
Invest.
(1) Pay off house mortgage.
(2) Buy one or two luxuries for myself.
(3) Give a bit to each of my (grown-up) children.
(4) Put the rest in a savings account for my retirement, which is only about 2 years away.
Having a well paid job, no debts and a shiny new car, I’d be a boring old fart and stick it away somewhere safe. Stock market seems to be the dull option.
Travel, but just 3 months? More like 3 years.
The Firefly household would probably do a mix of home improvements, travel, and the Firebug’s college fund.
What are “Two hundred thousand dollars dollars?”
If I had $200,000, I’d pay off debt and pour money into tax-sheltered savings and retirement accounts.
Pay off all my debt, take a trip to Peru, and use what’s left over for investment.
I’ll join the pay of debts crowd after that it would probably be gone or close enough to it that I would invest in something risky.
I figured that the invest option in the poll was the same as paying off debt since it would make me back the money I was spending on interest.
$200K is enough to pay off my house and student loans, with a decent chunk left over to save/invest…or maybe buy a new vehicle. But the mortgage and loans get paid in full before anything else happens with the money.
$50k in each of my kids’ college accounts.
$10k or so for some furniture for the new house.
$10k or so on some fun stuff.
The rest would be a down payment on an investment property or two nearby.
Pay debt
Pay off my student loans, cc balance (not much, but still taking awhile), and two car payment balances. I’d say I’d have about 80k left (my student loans are crazy high for being undergrad).
I suppose I’d use that 80k on a down payment for a house. Around here 80k won’t buy you much more than a shack, and our modest first home range is going to have to be 200-220k so such a down payment would help tremendously.
Pay off student loans, continue my education, give the rest to my parents with the hopes that they’ll finally just hire someone to finish up the multi-year renovations on their house.
Pay off my MIL’s house so she wouldn’t have a mortgage over her head anymore. Then, I’d make a good donation to my favorite charity.
I don’t have many debts and that’s not enough to buy a house (not that I’m sure I want a house!). I live comfortably on my paycheck, and there are people who need it a LOT more than I do. I would pay off my student loans, buy a pair of really well-made flat-heeled knee boots, and give the rest to charities aimed at women’s rights in the developing world, which is my most important issue.
At this point in my life, I don’t need any more things, so I’d help put in one son’s and in the grandchildren’s education funds.
Blow almost all of it on travel. I am sure I would put some toward my daughter’s college fund, but I would tell her then as I tell her now, “Please be prepared to work through college in addition to makin’ some scholarships happen!”
Put everything in long-term savings at 4% which would net me $8000/year or $666/month in interest. With that money I’d move to a bigger apartment and spend the rest on electronics/media.
I don’t have debt but I live in a crappy apartment so I would move into town into a nicer place (rental). I also have really old furniture so I would replace that.
Otherwise, I’d put it into savings. And donate at least 10% to charity.