Windfall from Work ー What would you do?

[The_Vorlon]

@Onomatopoeia

This morning, my wife mentioned a week in Honolulu. I’m thinking that’s not a completely horrible idea.

Maui is nice too, and since you will be in the neighborhood…

[Onomatopoeia]

@EvilTOJ

Since you’re extremely financially conservative, I suggest a wild weekend somewhere. I mean act like you’re some big shot gangsta with liquor and blackjack and whores! OK skip the blackjack.

I’m sure the wife wouldn’t be okay with that. I’m just as sure I couldn’t pull it off even if she were. I don’t drink, and the closest I’ve ever been to a gangsta is seeing them in movies.

[lieu]

Are you, per chance, familiar with the UK show Top Gear? I’d probably look really hard at something that flipped their lid, provided all my other immediate obligations were taken care of. If it’s a nice bonus, a Turbo 911. If it’s a really nice bonus, a Ferrari 458.

[Onomatopoeia]

@kittenblue

Are they hiring where you work?

We actually are hiring. PM me if you’ve ever worked for a CRO, or are a clinician with at least 10 years managing patients in clinical trials.

@kittenblue

If it were me, I’d pay down my bills, save a significant portion and then splurge on something that would make me happy each day…whether that be splashing out for high-quality shoes, or a great couch, or a piece of art…whatever is going to make you smile. And then I’d spend some of it to make someone else’s life a bit brighter…either a donation to a charity, or a direct gift to a family member. Because that would also make me happy each day.

Family and charities have been in the mix for years already, and goodness knows I don’t need any more furniture. I could have the kitchen extended though. My wife would love that.

[EvilTOJ]

Charter Membership and Custom Titles for everyone!

[Onomatopoeia]

@Paul_in_Qatar

Actually, no. Home mortgage interest payments are tax deductible, which further reduces the real cost of what is probably your lowest-interest loan. Pay off your higher-interest, non-deductable loans, credit cards for example.

My mortgage is my only debt, but you’re correct, my rate is lower than anything else I was paying off when I did have other debt.

@Paul_in_Qatar

Then hide as much as you can in tax-advantaged instruments. For most people that means $5,000 in a Roth IRA. Then more in government bonds if you like. Don’t be afraid to put the rest into a savings account. This will build a very nice credit eligibility and give you a sense of protection in the even of sudden expenses. It is nice to have money in the bank even if better returns are available elsewhere. It is flexibility.

Roth IRA is already in the mix. I don’t know anything about bonds, but I guess I can ask my accountant. As far as savings, he’s already admonished me about having as much as I do there already.
[/quote]

@Paul_in_Qatar

Then forget about it and start dreaming about next year’s bonus.

Heh. Don’t give me any ideas.

[Onomatopoeia]

@Machine_Elf

We’ve been saving aggressively. No debt other than mortage (CC’s paid off every month). Next year I had planned to replace my car, which will be 10 years old by then. If I suddenly came into a lump of cash, I suppose I might buy that new car a year earlier. The money for that new car is already there though, and the extra expense (one year of driving a 1YO car instead of a 9YO car) wouldn’t actually be that much. What would I do with the rest of the windfall? Hm. Faster/newer PC, maybe a couple of small toys (GoPro Hero HD video camera comes to mind). The more I think about it though, the more I realize I’d have to struggle to spend that kind of cash in a short time. Maybe a two-week trip to Japan, with first-class seating and top-notch hotels for me and my wife? Even that wouldn’t come to more than $15,000-20,000.

Going back to Japan has crossed my mind a few times since yesterday. Although the last time I left there it was a little too heart-wrenching, and I told myself I probably wouldn’t go back until I was prepared to stay.

[Onomatopoeia]

@Nawth_Chucka

Knowing where you are would help my suggestions!

New Jersey. Smack in the middle of the pharmaceutical corridor, which is my industry.

[Onomatopoeia]

@Sattua

I would take a fraction of it, no more than a quarter (and more like a tenth) to take a nice vacation–and invest or save the rest. I don’t have any sensible advice about the investing/saving part, sorry.

Sounds about right.

[Onomatopoeia]

@lieu

Are you, per chance, familiar with the UK show Top Gear? I’d probably look really hard at something that flipped their lid, provided all my other immediate obligations were taken care of. If it’s a nice bonus, a Turbo 911. If it’s a really nice bonus, a Ferrari 458.

I’m not much of a TV person, so I’ve not heard of Top Gear. Sorry. “Flipped their lid?”

I already have my mid-life crisis car, so I’m all set there.

[Onomatopoeia]

@EvilTOJ

Charter Membership and Custom Titles for everyone!

Or maybe I can lobby Lynn Bodoni to let us have inline images. Pssst. Lynn. call me.

[norinew]

@Onomatopoeia

Or maybe I can lobby Lynn Bodoni to let us have inline images. Pssst. Lynn. call me.

Lynn, be sure to call collect!

[silenus]

21 Black.

[Machine_Elf]

@Onomatopoeia

Going back to Japan has crossed my mind a few times since yesterday. Although the last time I left there it was a little too heart-wrenching, and I told myself I probably wouldn’t go back until I was prepared to stay.

That’s OK, pick somewhere else. Point is, make it a no-expense-spared thing. Stay in 5-star hotels, eat at the nicest restaurants, fly/ride first-class. Do all the fun stuff, visit all the tourist attractions with all the extra-cost items added on.

[Onomatopoeia]

@silenus

21 Black.

??

[Machine_Elf]

@Onomatopoeia

??

Roulette?

[silenus]

Yeah, except Wiki shows 21 to be red. :o

Shows how long it’s been since I played roulette.

If I ever got a windfall from work, it would be because someone in payroll screwed up. I’d never get to keep the cash, so the only way to turn a profit from the mistake would be by betting it all at a casino and pocketing the profits while returning the “mistake.”

There are still a few bugs to be worked out, I’ll admit.

[Onomatopoeia]

@Machine_Elf

Roulette?

Ahhh. Gotcha.

[Onomatopoeia]

@silenus

Yeah, except Wiki shows 21 to be red. :o

Shows how long it’s been since I played roulette.

If I ever got a windfall from work, it would be because someone in payroll screwed up. I’d never get to keep the cash, so the only way to turn a profit from the mistake would be by betting it all at a casino and pocketing the profits while returning the “mistake.”

There are still a few bugs to be worked out, I’ll admit.

I’ll say.

[Onomatopoeia]

@The_Vorlon

Maui is nice too, and since you will be in the neighborhood…

Speaking of which, what island has the most attractions / has the most to do?