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Forum » Misc Investors And Who Made It - Need Advice Coming Into Lump Sum
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Thread: Misc Investors And Who Made It - Need Advice Coming Into Lump Sum

post 1649389833 10-21-2021, 06:26 PM
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#1
  1. Kawhilights
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Misc Investors And Who Made It - Need Advice Coming Into Lump Sum

To keep this story short I need advice from miscers who made it, are good investors or turned money into more money.

I’m coming into 90-100k post tax due to a corporate buyout within 2 months. Currently I’m making 80k post tax yearly, I live in the Midwest so this is very comfortable.

Mortgage is at 211k, 2.78% interest and locked at 20 years
All other debt is 30k in student loans. Rate is like 3 or something

What tips, and advice would you give? I know it’s not financially sound, but mentally I would love to pay off those student loans.

Also main reason I was with this company was for the potential payout in case of a buyout. They pay less than industry standard, and similar roles open at other companies average 120-130k. I’m likely leaving once we receive the payout money.
Lurking since '05 - the days of VS gorilla/cloud/goku threads
post 1649390053 10-21-2021, 06:29 PM
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  1. GordonXXX
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Originally Posted By Kawhilights⏩
To keep this story short I need advice from miscers who made it, are good investors or turned money into more money.

I’m coming into 90-100k post tax due to a corporate buyout within 2 months. Currently I’m making 80k post tax yearly, I live in the Midwest so this is very comfortable.

Mortgage is at 211k, 2.78% interest and locked at 20 years
All other debt is 30k in student loans. Rate is like 3 or something

What tips, and advice would you give? I know it’s not financially sound, but mentally I would love to pay off those student loans.

Also main reason I was with this company was for the potential payout in case of a buyout. They pay less than industry standard, and similar roles open at other companies average 120-130k. I’m likely leaving once we receive the payout money.
I like the idea of paying everything off. Then take that monthly money savings and invest it automatically into VFIAX.

Good luck!
post 1649390263 10-21-2021, 06:32 PM
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#3
  1. JayDigital
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Pay off the student loan.
Refi the mortgage down to 1.875% for 20 years, keep mortgage.
Invest remaining based on your risk tolerance.
post 1649390343 10-21-2021, 06:34 PM
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  1. Realclout
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Have you TRIED not BEING poor YOU sound POOR op.

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post 1649390553 10-21-2021, 06:40 PM
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Originally Posted By JayDigital⏩
Pay off the student loan.
Refi the mortgage down to 1.875% for 20 years, keep mortgage.
Invest remaining based on your risk tolerance.
Solid advice.

With the remaining, open a Vanguard account.

Put 80% in VTSAX and 20% in VBTLX.

Add to it when you can.
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post 1649392303 10-21-2021, 07:12 PM
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  1. Kawhilights
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Thanks for the advice bros, I was leaning into paying the student loans off and the vanguard route. Reps incoming
Lurking since '05 - the days of VS gorilla/cloud/goku threads
post 1649396723 10-21-2021, 08:37 PM
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Wait to pay off your student loans until they start collecting interest
post 1649397063 10-21-2021, 08:44 PM
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Can I borrow a dollar?
Damn
post 1649397243 10-21-2021, 08:47 PM
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  1. JeepBruh
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Originally Posted By JayDigital⏩
Pay off the student loan.
Refi the mortgage down to 1.875% for 20 years, keep mortgage.
Invest remaining based on your risk tolerance.
It's the boring answer, but the correct one. Do this.

Pretend you didn't get the money and whatever you have leftover invest.
post 1649397363 10-21-2021, 08:49 PM
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  1. Seatard
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The student loan forgiveness chatter isn't completely gone yet, if I felt there was any chance that debt will be wiped away in the next year or so I wouldn't be in a hurry to pay it off now.
post 1649397553 10-21-2021, 08:53 PM
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#11
  1. ElArteSuave
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put it all on dwacw to the moon!
post 1649397693 10-21-2021, 08:57 PM
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#12
  1. knightofday
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Originally Posted By Seatard⏩
The student loan forgiveness chatter isn't completely gone yet, if I felt there was any chance that debt will be wiped away in the next year or so I wouldn't be in a hurry to pay it off now.
lmaoooo
post 1649398543 10-21-2021, 09:10 PM
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If your going to invest anyway after you pay of debts try to max out your 401K if you have one. You'll lower your taxable income this year and get favorable taxes when you do cash out during retirement.
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