What to do with a windfall...

OGputtnfool

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Ok, theoretically speaking, if you were to come into a $15k lump sum and an increase of $1k/month, what would you do with it?

Let's assume your bag is set. That's too easy.
 
Do you own a home with a mortgage? I recently had a windfall and used it to pay down my mortgage. Guaranteed 4% return on my money. Not an exciting way to do it, but I’m going to be selling in another year.
 
My answers all seem to be inappropriate. :unsure:;)
You should probably do what I err you think is best, and get a private membership I've you've been wanting.
 
My answers all seem to be inappropriate. :unsure:;)
You should probably do what I err you think is best, and get a private membership I've you've been wanting.
Oak Tree National is $10k initiation and $750/month and only about 10 miles away. That would be very tempting.
 
Right now, here’s what I’d do:

1. New roof on the house with the lump sum.
2. Yearly club membership with part of the monthly increase.
3. Pay down vehicle loan with remainder of monthly.
 
#1 Kids college fund
#2 pay down debt
#3 Vegas Bitches!!!! I will skip the hookers and blow But VEGAS BABY!!
 
Oak Tree National is $10k initiation and $750/month and only about 10 miles away. That would be very tempting.
"In the mid-1970s architect Pete Dye began to design Oak Tree Golf Club with the directive to make it the hardest golf course in the world.
“When I was working on Oak Tree,” said Dye, “the only comment Ernie Vossler and Joe Walser (the course’s co-founders) made was, ‘can’t you make it any harder?’”

Proceed with caution? :eek:
 
I’ve saved enough so when my wife goes out on maternity leave, she can stay out until April/May 2021. She would stay out until August 2021.
 
I’ve saved enough so when my wife goes out on maternity leave, she can stay out until April/May 2021. She would stay out until August 2021.
You're the last true family man...
 
#1 Kids college fund
#2 pay down debt
#3 Vegas Bitches!!!! I will skip the hookers and blow But VEGAS BABY!!

1 - that's what the GI Bill is for
2 - what debt?
3 - not my thing. If I'm gambling, it'll be in the stock market where I have a chance.
 
Ok, so at least someone else said hookers and blow before me...
 
I like the membership idea, because in the end it adds up to experiences. I'd prefer that to something new. And I think windfalls if at all possible should be spent on something you wouldn't normally buy for yourself/wife/family/etc. Wife and I tend to take trips, scratch something off the list, etc with money like that. That said, if someone handed me 15k right now, I'd tell my wife we could go with the house she wants to buy, and I'd use the money to put in the material order for a second garage (my garage) tomorrow morning. Also, there's always a launch monitor for the garage you already have...
 
Simulator package (or part of it, at least).
 
Straight to the retirement fund, no ands, buts or, ifs! 😎
 
With 15k you can get everything needed for a good Foresight setup. Depending on where you live that might give you more golf opportunities. Other path is looking towards a country club with a 5k-10k initiation fees.

The additional 1k a month sounds like a good opportunity for funding an investment portfolio to ensure you can take advantage of whatever golf related expense you choose.

Going more to what good financial strategies:
1. Eliminate any expensive debt (items with an interest rate that is above what you can reasonably assume you could make with a conservative investment strategy)
2. IRA/401k. Get your money into a tax advantaged setup if possible.
 
Bandon Dunes
 
Sensible stuff... if you need it, go that route.

Fun stuff... if you're set for sensible stuff, go this route.

(y)
 
For me it’d be paying down debt. But that’s boring, so I’d go with finishing the basement or getting a sim shed. Whichever is more wife-approved.
 
15k lump and 1k a month increase.
Is this like a signing bonus and a raise?

Upfront it looks like a lot, in the grand scheme of things it’s not, id put it in savings.
This is if you have no debt. Which you said you don’t so..

For me I’d take a half inexpensive trip to Hawaii, probably to Maui this time, with the wife and kids of course.
 
Replace our family vehicle, bank the rest.

Extra $1k per month I'd probably start looking at a new house.
 
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