# What would you do if you had $100,000 cash right now and had to spend it? **URL:** \ **Category:** In My Humble Opinion\ **Created:** [January 24, 2001, 7:16pm UTC](https://boards.straightdope.com/t/what-would-you-do-if-you-had-100-000-cash-right-now-and-had-to-spend-it/51597 "2001-01-24T19:16:01Z")\ **Posts on this page:** 17\ **Page:** 3
**Author:** ![Balduran](https://avatars.discourse-cdn.com/v4/letter/b/cc9497/32.png) [@Balduran](https://boards.straightdope.com/u/Balduran)\ **Post date:** [January 25, 2001, 3:27pm UTC](https://boards.straightdope.com/t/what-would-you-do-if-you-had-100-000-cash-right-now-and-had-to-spend-it/51597/41 "2001-01-25T15:27:46Z")
1 A house for a family we are helping out in Malawi 2 at least 10G’s on new computers and equal amount for SO on her choice 3 A few charities 4 Save the rest for our house downpayment ---
**Author:** ![Cat\_Whisperer](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/cat_whisperer/32/4839_2.png) [@Cat\_Whisperer](https://boards.straightdope.com/u/Cat_Whisperer)\ **Post date:** [January 25, 2001, 8:43pm UTC](https://boards.straightdope.com/t/what-would-you-do-if-you-had-100-000-cash-right-now-and-had-to-spend-it/51597/42 "2001-01-25T20:43:59Z")
[hijack] **Mullinator** got me thinking, and based on some very rough calculations, it looks like paying off your mortgage is actually a better financial decision than investing the money, unless you are guaranteed a _really_ great return rate. Some factors: -Mortgage payments are usually the largest sum of money people pay out monthly. Once the mortgage is killed, all that payment money goes into your pocket instead. -You can turn around and invest all that extra money. -The house can now be sold for 100% profit, which (in Canada) is not taxable if it is your primary dwelling. Sell it for more than you paid for it, and you have just made even more profit. All profit made in stocks, bonds, etc. is taxable. -Based on a $100 000 mortgage at 6% over 25 years, you would save around $91 000 in interest over the life of the mortgage by paying it off at once. Larger mortgage, higher rates, even more savings in interest. -The mortgage interest saving is guaranteed - no investment you could make that would return better is a sure thing like this. -Mortgage interest rates can go up at any time. If the mortgage is not paid off, you would still be gambling that you will never encounter a killer rate down the road. My 0.02 (+ interest). [/hijack] ---
**Author:** ![kinoons](https://avatars.discourse-cdn.com/v4/letter/k/a698b9/32.png) [@kinoons](https://boards.straightdope.com/u/kinoons)\ **Post date:** [January 25, 2001, 10:37pm UTC](https://boards.straightdope.com/t/what-would-you-do-if-you-had-100-000-cash-right-now-and-had-to-spend-it/51597/43 "2001-01-25T22:37:10Z")
no doubt in my mind, buy a 2001 toyota MR2, then a downpayment on a house ---
**Author:** ![dal\_timgar](https://avatars.discourse-cdn.com/v4/letter/d/a88e57/32.png) [@dal\_timgar](https://boards.straightdope.com/u/dal_timgar)\ **Post date:** [January 25, 2001, 10:42pm UTC](https://boards.straightdope.com/t/what-would-you-do-if-you-had-100-000-cash-right-now-and-had-to-spend-it/51597/44 "2001-01-25T22:42:59Z")
then i can keep the rent from the tenants. the greedy, Dal Timgar ---
**Author:** ![Mr.Blue\_Sky](https://avatars.discourse-cdn.com/v4/letter/m/d26b3c/32.png) [@Mr.Blue\_Sky](https://boards.straightdope.com/u/Mr.Blue_Sky)\ **Post date:** [January 26, 2001, 12:01am UTC](https://boards.straightdope.com/t/what-would-you-do-if-you-had-100-000-cash-right-now-and-had-to-spend-it/51597/45 "2001-01-26T00:01:05Z")
Whores and crack, my friends, whores and crack! But, seriously, pay off & renovate house (with serious kick-ass home theatre (with this kind of money, I use the funky spelling)) ---
**Author:** ![stormy652](https://avatars.discourse-cdn.com/v4/letter/s/eb9ed0/32.png) [@stormy652](https://boards.straightdope.com/u/stormy652)\ **Post date:** [January 26, 2001, 1:54am UTC](https://boards.straightdope.com/t/what-would-you-do-if-you-had-100-000-cash-right-now-and-had-to-spend-it/51597/46 "2001-01-26T01:54:51Z")
I’d buy another 1996 Chevy Impala SS with under 10k miles on it, tweak the engine, put on a supercharger, work on the Intake/headers/exhaust, a 100 shot of nitrous, a set of racing slicks, chrome 20s and tires for them, hydraulics (oh yeah), an all new sound system, GPS, playstation 2, tv, 24 disc cd changer, HID lights, strobes under the car, new side mirrors with turn signal lights, tints, a stashbox, and things to put in said box. Goddamnit I’m drooling again. ---
**Author:** ![Crunchy\_Frog](https://avatars.discourse-cdn.com/v4/letter/c/ebca7d/32.png) [@Crunchy\_Frog](https://boards.straightdope.com/u/Crunchy_Frog)\ **Post date:** [January 26, 2001, 2:27am UTC](https://boards.straightdope.com/t/what-would-you-do-if-you-had-100-000-cash-right-now-and-had-to-spend-it/51597/47 "2001-01-26T02:27:54Z")
> [@](#): > > \*Originally posted by Palandine \* > \*\*Either that or make **Crunchy Frog** my kept man–I haven’t really decided yet. 😃 \*\* And what exactly is a “kept man”? And if I do get that money from **Palandine** , I’d pay off my student loans and the credit cards. As it is, with the exception of my car and student loans, I should be debt free bt the end of the year (I hope!) ---
**Author:** ![Brynda](https://avatars.discourse-cdn.com/v4/letter/b/e79b87/32.png) [@Brynda](https://boards.straightdope.com/u/Brynda)\ **Post date:** [January 26, 2001, 3:47am UTC](https://boards.straightdope.com/t/what-would-you-do-if-you-had-100-000-cash-right-now-and-had-to-spend-it/51597/48 "2001-01-26T03:47:34Z")
Use it as seed money to develop a retreat for people with terminal illnesses–my dream. I would be the resident psychologist and would teach relaxation, do psychotherapy, and lead support groups. I would hire nurses, health educators, yoga teachers, massage therapists, nutritionists, etc. The goal would be to give the clients some time away to cope with their illnesses while getting and giving support to others and to learn skills to use at home. ---
**Author:** ![Elkman](https://avatars.discourse-cdn.com/v4/letter/e/c6cbf5/32.png) [@Elkman](https://boards.straightdope.com/u/Elkman)\ **Post date:** [January 26, 2001, 4:04am UTC](https://boards.straightdope.com/t/what-would-you-do-if-you-had-100-000-cash-right-now-and-had-to-spend-it/51597/49 "2001-01-26T04:04:07Z")
The first thing I’d do is take me and the Elkwoman on a nice kid-free holiday someplace warm and exotic. With the rest I’d clear the credit cards and finish restoring my TR7. That would leave more than enough to pay the morgage and still invest in some RRSPs. Actually, screw the RRSPs, I’d buy the Elkwoman that Mercedes (1965 230 SL) she’s always coveted. Then we’d each have our toy to drive. ---
**Author:** ![Una\_Persson](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/una_persson/32/346_2.png) [@Una\_Persson](https://boards.straightdope.com/u/Una_Persson)\ **Post date:** [January 26, 2001, 6:00am UTC](https://boards.straightdope.com/t/what-would-you-do-if-you-had-100-000-cash-right-now-and-had-to-spend-it/51597/50 "2001-01-26T06:00:45Z")
1. Buy a better house. 2. Go see my Special Secret Doper and sweep her off her feet. ---
**Author:** ![anya\_marie](https://avatars.discourse-cdn.com/v4/letter/a/ebca7d/32.png) [@anya\_marie](https://boards.straightdope.com/u/anya_marie)\ **Post date:** [January 26, 2001, 10:14am UTC](https://boards.straightdope.com/t/what-would-you-do-if-you-had-100-000-cash-right-now-and-had-to-spend-it/51597/51 "2001-01-26T10:14:47Z")
it does not have to be big, but i will need a backyard for my dog. in my neighborhood i could probably get something good for $80,000. $7000 for furniture and a computer for me $2000 for a car and then i could just give the rest to members of my family. ---
**Author:** ![lawoot](https://avatars.discourse-cdn.com/v4/letter/l/35a633/32.png) [@lawoot](https://boards.straightdope.com/u/lawoot)\ **Post date:** [January 26, 2001, 11:22am UTC](https://boards.straightdope.com/t/what-would-you-do-if-you-had-100-000-cash-right-now-and-had-to-spend-it/51597/52 "2001-01-26T11:22:31Z")
some standards: payoff debt, new car… Buy some high quality shop tools, and then donates what’s left (if anything) to my alma mater ---
**Author:** ![Andy](https://avatars.discourse-cdn.com/v4/letter/a/aeb1de/32.png) [@Andy](https://boards.straightdope.com/u/Andy)\ **Post date:** [January 26, 2001, 11:24am UTC](https://boards.straightdope.com/t/what-would-you-do-if-you-had-100-000-cash-right-now-and-had-to-spend-it/51597/53 "2001-01-26T11:24:07Z")
What is wrong with you people? I’d throw a few pounds into the bank to cover some debts. Then I’d invite a few good friends, give them say a week to turn up, on the drinking session to end all drinking sessions, involving as many countries as possible, as many different beers as possible and basically quit when the money runs out. Oh, and buy a camera so that I’d have some idea of what happened. And put a down payment on a tent. ---
**Author:** ![Fretful\_Porpentine](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/fretful_porpentine/32/2873_2.png) [@Fretful\_Porpentine](https://boards.straightdope.com/u/Fretful_Porpentine)\ **Post date:** [January 26, 2001, 3:12pm UTC](https://boards.straightdope.com/t/what-would-you-do-if-you-had-100-000-cash-right-now-and-had-to-spend-it/51597/54 "2001-01-26T15:12:16Z")
The unselfish answer: Donate it, anonymously, to the English department, stipulating that it be divided evenly among all the TFs. Let’s see, that works out to what, $500 apiece? The selfish answer: Ah, screw it – Male Porpentine and I are going around the world. ---
**Author:** ![RonA](https://avatars.discourse-cdn.com/v4/letter/r/73ab20/32.png) [@RonA](https://boards.straightdope.com/u/RonA)\ **Post date:** [January 26, 2001, 9:37pm UTC](https://boards.straightdope.com/t/what-would-you-do-if-you-had-100-000-cash-right-now-and-had-to-spend-it/51597/55 "2001-01-26T21:37:12Z")
pay off credit cards, bf’s credit cards, bf’s student loan: 35,000 pay off 2nd mortgage: 35,000 pay off car loans: 30,000 This will save us over $1500/month. I can’t save or invest the original 100K, but I _can_ invest the $1500. I would also use the extra money to pay down our mortgage and to invest in bf’s artistic endevors. So, do you need our address to send us the check??? ---
**Author:** ![DoctorJ](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/doctorj/32/2904_2.png) [@DoctorJ](https://boards.straightdope.com/u/DoctorJ)\ **Post date:** [January 26, 2001, 10:09pm UTC](https://boards.straightdope.com/t/what-would-you-do-if-you-had-100-000-cash-right-now-and-had-to-spend-it/51597/56 "2001-01-26T22:09:12Z")
That would almost cover my student debt. Were I not thusly saddled, though, I’d buy myself a Jeep Wrangler with all the cool Jeep accessories I could find. I’d have a colossal shopping spree at my local book and music shops, as well as a few online magic shops. After that, I’d probably take a year or so off and travel until the money ran out. Either that or a down payment on a place in the Keys. Dr. J ---
**Author:** ![kiffa](https://avatars.discourse-cdn.com/v4/letter/k/d78d45/32.png) [@kiffa](https://boards.straightdope.com/u/kiffa)\ **Post date:** [January 27, 2001, 3:21am UTC](https://boards.straightdope.com/t/what-would-you-do-if-you-had-100-000-cash-right-now-and-had-to-spend-it/51597/57 "2001-01-27T03:21:44Z")
This is $100,000 after taxes, right? I would consolidate credit card debt into a home equity loan so I can write off the interest on my 2001 tax filing. $30,000 into a money maker fund that would feed interest into our two IRAs. $40,000 into a money maker fund that would feed interest into my favorite charities: Planned Parenthood, Akosha $10,000 into a SONY high definition tv with dvd, home theatre etcetcetc, connection to satellite radio for my car and three cybikos for the kids. $10,000 for a month in Cape Town and Durban, South Africa [Previous page](https://boards.straightdope.com/t/what-would-you-do-if-you-had-100-000-cash-right-now-and-had-to-spend-it/51597.md?page=2)