I have had that much over the last
Posted By: Mina on 2007-07-03
In Reply to: yes actually - jenny
say 10 to 15 years and it does seem like a lot but I can tell you without doing some sort of investing you will see it can be spent very easily. I have just gotten another $140 thousand this past week and first of all I find out what kind of taxes I have on the amount and be sure that is set aside and then I count what I owe and pay all my bills off and then I find the best rates I can for a CD (or however, you might like to invest)and stick money in the bank. By the end of next week I will have all my bills paid and only owe for the monthly utilities. A windfall is good but you need to be prudent in the spending. I learned my lesson years ago and now am very responsible about any money that comes my way. Before investing my last money I called all my neighbor banks to find out the best rate I could get. With the money I got this past week even the $15 thousand I owe for taxes will go into a deposit to make money for me before the next tax time so I will actually earn money on the tax I have to pay on it. I personally would never quit a job just on the $500 thous you say you have, money just can be spent before you know if unless you treat it right.
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