Best way to spend money
• United States
14 Feb 07
If I didn't have bills to pay and this money was truly extra money, I would pay down payments of about $20,000 each on 5 different houses. Then, I would rent the houses out and let them continue to pay for themselves with the rent money. I would learn everything I could about how to be an effective landlord. Then I would continue at my regular job until I was old enough to retire. By then, some of my 5 houses would be paid for and I would be earning extra income from them each month, in addition to social security and be able to taking care of myself very well for the rest of my life.
15 Feb 07
I am not sure if that is the best thing to do... i mean i wouldnt risk my entire funds entirely in one sector ... wht if the interest rates get hiked or even if a rent earned is not regular enough or the amount is not good enough... there are many things involved in it ... believe me i work in a mortgage company and people should think twice before having multiple mortgages/loans on multiple houses that they own
15 Feb 07
thats a great view or a way according to manage finances you enjoy with what you are been given, you invest it for future security and also at the same time you make it grow... i would actually invest around $10,000-15,000 in stock market NYSE, and keep circulating the money that i get from there and invest $30000-35000 in a bank, and buy a brand new car for $15,000-$20,000 and remaining amount i.e, $25,000-30,000 i would use to change some furnitures and keep some cash on hand just to have some liquidity of cash on hand