|
keepitlow
Jul 3, 2010, 6:06 PM
Post #1 of 15
(1850 views)
Shortcut
Registered: Aug 15, 2009
Posts: 66
|
Say you came into a quarter to half a million $$. Besides paying off bills and buying a new car. How would you proceed with furthering your sports?
I am asking cause I may come into an inheritance in this range in the next few years.
(This post was edited by keepitlow on Jul 3, 2010, 6:08 PM)
|
|
|
|
|
moose_droppings
Jul 3, 2010, 6:46 PM
Post #2 of 15
(1834 views)
Shortcut
Registered: Jun 7, 2005
Posts: 3371
|
keepitlow wrote: Say you came into a quarter to half a million $$. Besides paying off bills and buying a new car. How would you proceed with furthering your sports? I am asking cause I may come into an inheritance in this range in the next few years.
If it were me I'd keepitlow and not advertise it to everyone.
|
|
|
|
|
jbone
Jul 3, 2010, 7:11 PM
Post #3 of 15
(1819 views)
Shortcut
Registered: Jul 30, 2002
Posts: 463
|
1st thing I'd do is put a rental property in my backyard land to create a constant source of income.
Then I'd invest about 100k in a long term securities bond so I' have something to fall back on when I blew the rest.
I would never buy a "new" car cause I'd be wasting half my money and indenturing myself to overpriced insurance payments.
I'd put the rest in an interest gaining account then plan a series of trips that can be financed from the earnings from the rental property.
Hopefully in a few years my efforts would begin earning off the original windfall amount so that I'd still have a considerable amount to live on.
|
|
|
|
|
minibiter
Jul 3, 2010, 8:50 PM
Post #4 of 15
(1789 views)
Shortcut
Registered: Oct 23, 2007
Posts: 122
|
jbone wrote: 1st thing I'd do is put a rental property in my backyard land to create a constant source of income. Then I'd invest about 100k in a long term securities bond so I' have something to fall back on when I blew the rest. I would never buy a "new" car cause I'd be wasting half my money and indenturing myself to overpriced insurance payments. I'd put the rest in an interest gaining account then plan a series of trips that can be financed from the earnings from the rental property. Hopefully in a few years my efforts would begin earning off the original windfall amount so that I'd still have a considerable amount to live on.
All of that, and then, buy one of the many stellar crags that are on private land (Nelson Rocks in WV comes to mind, or Torrent Falls at the Red) and make it publicly available to climbers. Then, I'd arrange it so the property could never be developed, commercialized, or otherwise torn up or public access to it restricted. Or at least as close to never as I could possibly get. Like a conservation easement or something.
|
|
|
|
|
Gmburns2000
Jul 4, 2010, 1:25 AM
Post #5 of 15
(1716 views)
Shortcut
Registered: Mar 6, 2007
Posts: 15266
|
jbone wrote: 1st thing I'd do is put a rental property in my backyard land to create a constant source of income. Then I'd invest about 100k in a long term securities bond so I' have something to fall back on when I blew the rest. I would never buy a "new" car cause I'd be wasting half my money and indenturing myself to overpriced insurance payments. I'd put the rest in an interest gaining account then plan a series of trips that can be financed from the earnings from the rental property. Hopefully in a few years my efforts would begin earning off the original windfall amount so that I'd still have a considerable amount to live on.
^^ that.
just create an income and travel. Personally, travelling is a more attractive option than buying gear, though there's certainly gear that I'd like to buy.
|
|
|
|
|
curt
Jul 4, 2010, 6:51 AM
Post #6 of 15
(1672 views)
Shortcut
Registered: Aug 27, 2002
Posts: 18275
|
keepitlow wrote: Say you came into a quarter to half a million $$. Besides paying off bills and buying a new car. How would you proceed with furthering your sports? I am asking cause I may come into an inheritance in this range in the next few years.
Find out how much a really good call girl costs and then set up an annuity to fund her over your expected lifetime.
Curt
|
|
|
|
|
Greggle
Jul 4, 2010, 7:26 AM
Post #7 of 15
(1659 views)
Shortcut
Registered: Mar 27, 2010
Posts: 228
|
curt wrote: Find out how much a really good call girl costs and then set up an annuity to fund her over your expected lifetime. Curt
Call girl? I disagree, Curt.
Surely, there's some dime piece who could be sourced from his local community college that would offer the same "benefits" as a call girl, yet without the syphilis and shortcomings inherent to a Nut Gobbler. Further, if she comes from community college she, perhaps, won't be a total dolt but won't be informed enough [as it were] to bilk him. For the record, yes, I know some crafty sluts.
Having said that, whatever path he chooses, the annuity is a good idea, but she mustn't be privy to it...
|
|
|
|
|
julio412
Jul 4, 2010, 11:53 AM
Post #8 of 15
(1639 views)
Shortcut
Registered: May 16, 2005
Posts: 144
|
Considering that you're talking to climbers, I'm a little surprised on the conservatism-investments?rental property?With the way the economy is, and do you really believe the US is immune to economic collapse?
I say, travel and climb, figure a trade that seems to your liking,study, save some cash, come home.
Believe me, before you know it- you're old.
M
|
|
|
|
|
keepitlow
Jul 4, 2010, 4:52 PM
Post #9 of 15
(1591 views)
Shortcut
Registered: Aug 15, 2009
Posts: 66
|
julio412 wrote: Considering that you're talking to climbers, I'm a little surprised on the conservatism-investments?rental property?With the way the economy is, and do you really believe the US is immune to economic collapse? I say, travel and climb, figure a trade that seems to your liking,study, save some cash, come home. Believe me, before you know it- you're old. M
Thanks for ALL the feedback!
Am already old!!
Well, kinda of. In my late 50's. I already have lots of sports stuff. Used to have some money back in the day. Saved and invested some, but spent way too much. (actually squandered a lot of it to be more truthful.)
Advice the 'climbing investor' gave was very good. But I liver simply, have enough $$ to live simply and save some too. Got a fully funded retirement plan. No debt. So am looking for other areas to use the proforma $$ to keep health up.
When your old, the only thing $$ is good for is health and well-being and of course some of the sensual pleasures that were mentioned.
But I'm married, so hiring ladies for Swedish massages is about all the fun I get. And if they cradle my hand on their boobies while they massage my arm...well, that is all I can hope for in the area of 'outside of marriage' sexual excitement.
As far as what I had in mind with the OP?....
Buy some land. Put up a metal building about 75' x 150' x 20' tall walls. Endless pool, sauna, gym, trampoline, climbing wall, auto belays,. (already have a 13.3 foot woody in living room and a treadwalll outside) Crotch rocket, 500 CC custom 2stroke Honda dirt bike, stand up jet ski, new sit down jet ski (Already have street bikes, dirt bikes and an oldy jet/s from mid 90's vintage...just want better ones) New 13' fibreglass trailer for sport trips. (Already had a snowmobile, but did not use it much, sold it, so would not re buy it.) Maybe a foam pit for gymnastics and some skating area inside for winter skating.
Anyway, if your young, the climbing investor sheds some words of wisdom on this discussion....Invest in high quality, fixed income investments that will yield for a lifetime.
If I hit the lotto and had oodles to get rid of, I would definitely consider the other responder that talked about buying crags and keeping them open to climbers. But the only issue would be liability?
These are areas I aspire to train in. Although time, $$ and energy constraints don't always allow me to get em all in. But having the right formula is half the battle and I have them on my mind to not neglect.
Weight / strength training
Aerobics / HIIT / Fartlek
Nutrition
Balance / equilibrium training
Yoga / flexibility training
Speed training applied by body
Speed training applied by mechanical means
Height / altitude training
Pressure / depth training
Centrifugal training
Jump / Height / Plyometrics training
Breath Holding training
Lung expansion training
Ambidextrous training
Inversion training
Timing and Coordination training
Agility training
Stability training
Cold training
Mind training
Mind relaxation / meditation (zazen)
Bodywork / Swedish / Deep Tissue Massage / Reflexology
Proper Sleep
So my spending interests would be along these lines and improving areas that 'could be improved' by throwing some $$ their way.
(This post was edited by keepitlow on Jul 4, 2010, 5:04 PM)
|
|
|
|
|
coolcat83
Jul 4, 2010, 5:14 PM
Post #10 of 15
(1574 views)
Shortcut
Registered: Jan 27, 2007
Posts: 1007
|
these days that's nice but not all that much money. save lots for your retirement and/or kids, have fun with the rest.
|
|
|
|
|
ax
Jul 5, 2010, 11:54 AM
Post #11 of 15
(1501 views)
Shortcut
Registered: Aug 24, 2001
Posts: 155
|
SIMPLE! ..
Give it all to the Access Fund...
and go climbing outside! 
|
|
|
|
|
airscape
Jul 5, 2010, 12:09 PM
Post #12 of 15
(1491 views)
Shortcut
Registered: Feb 26, 2001
Posts: 4240
|
keepitlow wrote: Say you came into a quarter to half a million $$. Besides paying off bills and buying a new car. How would you proceed with furthering your sports? I am asking cause I may come into an inheritance in this range in the next few years.
If it's in a few years stil I would also take out a life insurance policy to at least double this up.
But don't do this if you are using the cyanide/arsenic as they have tests for that now and life insurance would make you a suspect.
|
|
|
|
|
Bag11s
Jul 5, 2010, 1:35 PM
Post #13 of 15
(1475 views)
Shortcut
Registered: May 8, 2009
Posts: 98
|
Travel-
I'm your age and this is what I'd do-rotate through the world's best limestone sport climbing areas, South African bouldering, Spanish and Thai limestone, Northwest Territories granite, whatever. Get on the best five star and hardest climbs at each area that you can handle- get out of your little shell, forget about training- just do it- take the rest days diving, sailing, and enjoying the cultural diversity, history, foods and people of exotic locales- just blow off those retirement thoughts for the next few years until you are satiated. Take up surfing, hang by the water. Enjoy your physical strengths right now- don't waste your time training- you'll get fitter by getting out there and doing a lot anyway.
|
|
|
|
|
hacksaw
Jul 5, 2010, 3:12 PM
Post #14 of 15
(1452 views)
Shortcut
Registered: Jun 21, 2004
Posts: 169
|
keepitlow wrote: I am asking cause I may come into an inheritance in this range in the next few years.
I wouldn't count your chickens before they hatch, its bad for you're Karma.
|
|
|
|
|
jomagam
Jul 5, 2010, 3:28 PM
Post #15 of 15
(1441 views)
Shortcut
Registered: Nov 10, 2008
Posts: 364
|
hacksaw wrote: keepitlow wrote: I am asking cause I may come into an inheritance in this range in the next few years. I wouldn't count your chickens before they hatch, its bad for you're Karma.
By hatch you mean die :)
|
|
|
|
|
|
