If I Had $600,000

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  • LK5kids
    Daycare.com Member
    • Oct 2012
    • 1222

    #16
    Quit day care
    Pay off student loans
    Invest some
    Go shopping with my BFF - everthing on me girls' weekend
    Fix the hot tub
    Buy a small boat or pontoon or house boat- I live along the bluffs of the Mississippi River
    Give about $20,000 to each daughter
    Travel some

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    • jenn
      Daycare.com Member
      • Jan 2012
      • 695

      #17
      I would quit daycare, pay off mortgage and other debts, finish our house remodel, then put the rest in an account with a high interest rate.

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      • AfterSchoolMom
        Advanced Daycare.com Member
        • Dec 2009
        • 1973

        #18
        Pay off house and bills, college funds for the three kids, and invest the rest. I may keep $1000 or so and go clothes shopping. I never, ever get to do that.

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        • mama0609
          Daycare.com Member
          • Feb 2013
          • 43

          #19
          I would sell our current house and pay cash for new house that we would design and build. Pay off my car, buy DH a new truck. Put $75k into both kids' accounts for college. Put the rest into retirement. We would be able to put so much more away each month for retirement with no mortgage or car payments.
          House-~$250k
          Car-~20k
          Kids-$150k
          Truck-~20k
          Retirement-$160k

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          • momofboys
            Advanced Daycare Member
            • Dec 2009
            • 2560

            #20
            Is this the amount after taxes b/c taxes on 600,000 is a lot! But if I had 600k i would do the following:

            Give $50,000 to my church
            Pay off our house (presently owe @80k)
            Do repairs/updates (fix roof, painting all rooms inside, new flooring in whole house, update bathrooms, power wash house, re-side home, re-finish driveway, imstall new windows, build a deck, my brother can do all the above so I would pay him to do it all) - don't know how much this will cost, maybe $50k???
            Save 100k toward retirement
            save 75k for our boys' college
            Give 10k to my mom, 10k to my in-laws & 5k to each of my siblings (i have 5 & dh has 2) & 5k to each niece/nephew (i have 17 &.dh has 3)
            donate 25k to alzheimer's research (what my dad died of)
            Go in long family vac for 2 weeks $15k

            i know that is not 600k but close enough

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            • Lyss
              Chaos Coordinator :)
              • Apr 2012
              • 1429

              #21
              Originally posted by Blackcat31
              Quit.
              First thought that ran through my head!!


              ...Then
              -Pay off my grandparents house and back taxes they owe (plus prepay taxes for the next 2 years at least)
              -Pay off my car (maybe DH's )
              -Pay off student loans
              -Pay off credit card
              -Buy a house- nothing fancy but enough room to not be on top of one another
              -Hire a property management company to rent and maintain ^ said house
              -Buy a trailer and tour the US til DD hits Kindergarten age

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              • Play Care
                Daycare.com Member
                • Dec 2012
                • 6642

                #22
                Originally posted by Blackcat31
                Quit.
                That would be nice! But $600,000 wouldn't take me to retirement

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                • Blackcat31
                  • Oct 2010
                  • 36124

                  #23
                  Originally posted by Play Care
                  That would be nice! But $600,000 wouldn't take me to retirement
                  We have NO house payment, NO car payment, NO credit card debt and NO payments other than our monthly living expenses (food, lights, heat, gas)

                  So $600,000 would get me a great head start!

                  Comment

                  • Msdunny
                    Daycare.com Member
                    • Nov 2012
                    • 442

                    #24
                    For starters, my husband would be able to take the trip with my dad and our ds next week that we just had to cancel so that we can pay our tax bill. UGH!! I am so disappointed for the two of them.

                    Other than that, I would put $300,000 in a proven growth stock mutual fund and hope to be able to retire by living off the dividends.

                    With the other $300,000, I would pay off our house, tithe, buy a new car for myself and dh (and possibly a good used car for my ds and dd that drive), and take a vacation to Disney World.

                    Oh, yeah, and I would close! I love the kids, but I don't foresee my dh retiring any time soon (he's in the ministry), so I would!

                    Comment

                    • Childminder
                      Advanced Daycare.com Member
                      • Oct 2009
                      • 1500

                      #25
                      Pay off mortgage and retire.
                      I see little people.

                      Comment

                      • Michael
                        Founder & Owner-Daycare.com
                        • Aug 2007
                        • 7946

                        #26
                        I would spend all of it on things I could use. With the Gov printing so much, keeping a large amount of money in the bank is not something I would do these days no matter how high the interest rate.

                        Sorry to be a downer but this article kinda puts $600k in perspective: http://blog.sfgate.com/matierandross...r-tops-in-pay/
                        Last edited by Michael; 03-25-2013, 08:41 PM.

                        Comment

                        • Luna
                          Daycare.com Member
                          • Oct 2010
                          • 790

                          #27
                          Originally posted by Michael
                          I would spend all of it on things I could use. With the Gov printing so much, keeping a large amount of money in the bank is not something I would do these days no matter how high the interest rate.

                          Sorry to be a downer but this article kinda puts $600k in perspective: http://blog.sfgate.com/matierandross...r-tops-in-pay/
                          I feel like she and I live in different worlds. In my world, her salary for one year could make a huge change in my and my family's lives. I believe I would be just as happy with a one-time windfall of that money as she is getting it every year.

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