Hubbs Posted May 16, 2011 Share Posted May 16, 2011 Had an interesting conversation the other day, thought it would make for a good thread. Let's say that tomorrow, you wake up to find a strange suitcase next to your bed. Inside the suitcase, you find $100,000 in cash and a note that simply reads, "This is your reset button. Good luck." As the day progresses, you discover that if you had a job, it's gone, and the company you worked for claims to have never heard of you. If you're going to school, the school has no records of your existence. You also find out that your financial slate has been wiped clean - any investments, bank accounts, credit cards, valuables, or outside real estate you owned are simply gone, but you're magically debt-free and you own your current residence (house/apartment/whatever) free and clear. What do you do? Do you try to start the business you always toyed around with in your head? Do you immediately look for a normal job so you can save the $100k in whatever manner you choose? Do you travel the world for a year without having to worry about money? Do you buy some big things you always wanted to buy but couldn't afford? Do you spend a week living like Charlie Sheen? Do you do something else entirely? Link to comment Share on other sites More sharing options...
Bubble Screen Posted May 16, 2011 Share Posted May 16, 2011 I would turn over the suitcase to the authorities. If something is free, there is always a catch. Link to comment Share on other sites More sharing options...
Teller Posted May 16, 2011 Share Posted May 16, 2011 I've thought of this a few times, mostly in the context of winning the lottery. Surprisingly, I don't think my lifestyle would change all that much. I had a lot at one point in my life, and lost it all. That experience taught me something very important. Live within your means, well within your means, and if you (I) get married again, only take out loans that I can pay ENTIRELY by myself; without my wife's income. So I would.... 1) Buy a nice pre-owned double-wide, and put it on about two-acres. In my area, that would cost about $45,000. 2) Buy a Nissan Juke. Fun, sporty, AWD, and plenty large enough for me and the kids when I get them. $25,000. 3) Hire the best lawyer possible to fix my child support/custody situation. Whatever portion of the $30,000 left that eats up. Then I'd get a job doing something I WANT to do. Without any real bills, and probably a good $20,000 in the bank, the onus would be more on being happy, than having to bring home a specific dollar figure. Link to comment Share on other sites More sharing options...
GhostofSparta Posted May 16, 2011 Share Posted May 16, 2011 Boring answer: I'd use that money to get my Master's and get my wife her certification. Being debt free with $100k out of nowhere would certainly make that easier. Link to comment Share on other sites More sharing options...
Bubble Screen Posted May 16, 2011 Share Posted May 16, 2011 hog, I don't have a problem with 1 and 3. But you can't possibly like those Jukes. My gawd, that is one of the UGLIEST cars/suvs on the road. Link to comment Share on other sites More sharing options...
Forehead Posted May 16, 2011 Share Posted May 16, 2011 I tell you what I'd do man. Two chicks at the same time man. Link to comment Share on other sites More sharing options...
chipwhich Posted May 16, 2011 Share Posted May 16, 2011 From my experience, most Americans would blow through 100K in a year on "stuff". TV's, cars, electronics. For me, the 100K isn't life changing enough to allow you to carry out your dreams to start your average business nowadays. You couldn't even open a Subway franchise for that amount. I guess you could start an insurance company, or some service oriented company. But in your scenario you still have to pay for food, gas, property tax, home insurance, gas and electric bills, etc. Take away all your living costs, and you aren't left with a ton to start your business. ---------- Post added May-15th-2011 at 10:18 PM ---------- I've thought of this a few times, mostly in the context of winning the lottery.Surprisingly, I don't think my lifestyle would change all that much. I had a lot at one point in my life, and lost it all. That experience taught me something very important. Live within your means, well within your means, and if you (I) get married again, only take out loans that I can pay ENTIRELY by myself; without my wife's income. So I would.... 1) Buy a nice pre-owned double-wide, and put it on about two-acres. In my area, that would cost about $45,000. 2) Buy a Nissan Juke. Fun, sporty, AWD, and plenty large enough for me and the kids when I get them. $25,000. 3) Hire the best lawyer possible to fix my child support/custody situation. Whatever portion of the $30,000 left that eats up. Then I'd get a job doing something I WANT to do. Without any real bills, and probably a good $20,000 in the bank, the onus would be more on being happy, than having to bring home a specific dollar figure. Problem is, you still need health insurance for life. So you are screwed Between health care, utilities, and property taxes, it takes a LOT of money to check out of life. Link to comment Share on other sites More sharing options...
DeaconTheVillain Posted May 16, 2011 Share Posted May 16, 2011 Casino. 17 black. Link to comment Share on other sites More sharing options...
SkinsHokieFan Posted May 16, 2011 Share Posted May 16, 2011 From my experience, most Americans would blow through 100K in a year on "stuff". TV's, cars, electronics.For me, the 100K isn't life changing enough to allow you to carry out your dreams to start your average business nowadays. You couldn't even open a Subway franchise for that amount. I guess you could start an insurance company, or some service oriented company. But in your scenario you still have to pay for food, gas, property tax, home insurance, gas and electric bills, etc. Take away all your living costs, and you aren't left with a ton to start your business. ---------- Post added May-15th-2011 at 10:18 PM ---------- Problem is, you still need health insurance for life. So you are screwed Between health care, utilities, and property taxes, it takes a LOT of money to check out of life. Agree. 100,000 simply doesn't go that far anymore, in particular in this scenario. In my case, if I was free and clear of all debt, I would put away 80,000, and spend the other 20,000 on some traveling. After that, back to the grind! Link to comment Share on other sites More sharing options...
Skin'Em84 Posted May 16, 2011 Share Posted May 16, 2011 Go back to school. Get the same major I have now, but with no debt, and 40k in the bank. Link to comment Share on other sites More sharing options...
MissU28 Posted May 16, 2011 Share Posted May 16, 2011 hog, I don't have a problem with 1 and 3. But you can't possibly like those Jukes. My gawd, that is one of the UGLIEST cars/suvs on the road. I didn't know what one looked like and just looked it up....and you are right Link to comment Share on other sites More sharing options...
PokerPacker Posted May 16, 2011 Share Posted May 16, 2011 go "back" to school and get the degree I'm working on... hopefully with a better work ethic. go get an awesome engineering job and make the big bucks Link to comment Share on other sites More sharing options...
Teller Posted May 16, 2011 Share Posted May 16, 2011 Drive one, then talk. And I live in a county of less than 25,000, depressed, former coal-mining area, and the LONGEST we've had one is two weeks. Link to comment Share on other sites More sharing options...
thebluefood Posted May 16, 2011 Share Posted May 16, 2011 I tell you what I'd do man. Two chicks at the same time man. So, does anyone every say you've got a "case of the mondays" at work? Link to comment Share on other sites More sharing options...
Bubble Screen Posted May 16, 2011 Share Posted May 16, 2011 Drive one, then talk. And I live in a county of less than 25,000, depressed, former coal-mining area, and the LONGEST we've had one is two weeks. I never said they weren't "good" vehichles. But they don't appeal to me in the least. I would probably buy any other new car on your lot before I bought a Juke. The Echos are up there in the ugly department, too. Edit: I think the one I'm talking about is the Cube. Nevermind. Link to comment Share on other sites More sharing options...
skinfan2k Posted May 16, 2011 Share Posted May 16, 2011 100k is nothing. That would be a downpayment on a house, might go on a trip or two but my life would not be changed at all Link to comment Share on other sites More sharing options...
Bubble Screen Posted May 16, 2011 Share Posted May 16, 2011 hog, I picture you more as a Frontier guy. Or Titan. Link to comment Share on other sites More sharing options...
renaissance Posted May 16, 2011 Share Posted May 16, 2011 Wait, I get 100 grand but I have to go back through school if I want my degrees??? This game sucks. I guess I'd spend the money on going back to school and then going on a long vacation. Link to comment Share on other sites More sharing options...
Teller Posted May 16, 2011 Share Posted May 16, 2011 hog, I picture you more as a Frontier guy. Or Titan. Oh I would be, and the Frontier is torquey as hell, surprisingly, but I'm only getting $100k, and have to put gas in whatever I buy. Actually, of everything we have, I'd most prefer the Maxima, but unless I moved, I wouldn't want something that's not 4wd/awd. Link to comment Share on other sites More sharing options...
greenspandan Posted May 16, 2011 Share Posted May 16, 2011 100k is such a paltry sum. what would be the point? Link to comment Share on other sites More sharing options...
twa Posted May 16, 2011 Share Posted May 16, 2011 I would be rather pissed at losing my business,especially since I already own my home and am basically debt free. Toss up between hunting down whoever was screwing with my life and buying a sailboat and cruising the world....I think the revenge factor might win out. Link to comment Share on other sites More sharing options...
Lombardi's_kid_brother Posted May 16, 2011 Share Posted May 16, 2011 I've always wanted to kill a hooker. That should be enough to handle a cover-up, right? Link to comment Share on other sites More sharing options...
chipwhich Posted May 16, 2011 Share Posted May 16, 2011 100k is such a paltry sum. what would be the point? True. For Hubbs, at 24, a million dollars wouldn't allow him to check out of life without making intelligent choices. 100K would just put you back in the rat race. Double wide or not Link to comment Share on other sites More sharing options...
Hubbs Posted May 16, 2011 Author Share Posted May 16, 2011 True. For Hubbs, at 24, a million dollars wouldn't allow him to check out of life without making intelligent choices. 100K would just put you back in the rat race. Double wide or not I wouldn't expect $100k to allow me to check out of life. I haven't really figured out a good answer yet. The question just got me thinking. Link to comment Share on other sites More sharing options...
Duckus Posted May 16, 2011 Share Posted May 16, 2011 100k is nothing. That would be a downpayment on a house, might go on a trip or two but my life would not be changed at all A down payment???? Thank god I moved away from the DC area. $15,000 - My wife and I would get to BA Round-the-World flex-fare tickets and spend 12 months traveling. Mostly overland backpacking South America and Asia. After I get back . . . 1) Find a job (just to pay the bills and mortgage for now) 2) Take $10,000 -for down payment on a $250,00 home in Austin or a farm house outside the city. 3) Put $75,000 into my savings account. 4) I do online work (design, communications, strategy). After creating a business plan and identifying a few clients, quit my job and attempt to make it using the 75k as living money while I go through the growing pains (or failures) of a new business. Link to comment Share on other sites More sharing options...
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