Current Events > I Have $300,000 in My Bank Account

(+) Yeah! (+)

Alright, Ive hit a milestone$300,000 sitting in my bank account. No debt, no major expenses coming up, just a big fat cushion of cash.

Now heres the thing: I dont know what to do with it. Should I invest it? Buy property? Blow it on something fun? Let it sit there and stare at me like a security blanket?

For context, Im in my 30s, single, renting, and I have a decent job that covers my living expenses. I know $300K isnt retire forever money, but its enough that I feel like I should do something with it. Any advice?

Pay a financial advisor instead of "To CE!'

Should have invested or bought a hoise long ago.

JuanCarlos1 posted...

Pay a financial advisor instead of "To CE!'

Tc is chatgpt btw

yes coming here to brag really makes you likable

most posters here are struggling to survive and you come to tell us just how much money you have

What does your son think?

I'm happy for you. Keep it protected and in a high yield savings account and don't spend it

For investing build up other nest eggs from your active income

Hire someone to invest for you and purchase property. Throw a few dozen grand you have left over into high leverage ETFs.

I wish I was debt free. Ill know how that feels in about.10 years lol

But the smart move would be to buy land.

Give me like $5k just cuz

you should donate it to needy CE members *wink wink* *nudge nudge*

you could host the annual "$300k CE Giveaway Bonanza Extraordinaire!" sponsored by HETAP

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i know but i can still mock his gimmick persona

Why the fuck do you have it in bank account and not invested in an index fund? Literally leaving tens of thousands of dollars on the floor.

Spy has increased 27% year to date. That's $81k of gains if you had that 300k in spy in January

Yeah, invest that shit.

TC is kind of a big deal.

Buy Beanie Babies. They're gonna make a comeback.

Keep a years worth of living expenses in a high interest savings account. Figure out if you want to buy a home, if so use some of it for a down payment, invest the rest.

You generally shouldnt have that much cash in a bank account. You can put it to work to make passive income for you.

Max out a retirement account too.

You missed out on like 40-50% gains the last few years, but time in the market beats timing the market.

DCA or periodically deposit money into broad market index funds like VTI and chill. It depends on your risk tolerance if you want to do anything different.

Why are people believing the BS that the TC is spewing? You do realize the TC is just trolling like always, right?

I don't understand these topics because someone that has the ability to earn and save over 300k would already know some basic investing like 401k, Roth etc because there's a lot of lost interest if this was just in a standard bank account

Bet it all on black

Hard to believe any 30 somethings is sitting on that much money without investing it. So youre either not very bright TC and or a troll.

in one account, that's not all fdic insured.

Prismsblade posted...

Hard to believe any 30 somethings is sitting on that much money without investing it. So youre either not very bright TC and or a troll.

While the TC is indeed a gimmick its not that hard to believe. There are a lot of younger people in pretty good tech paying jobs. A number of them still live at home and dont contribute financially and are just stockpiling money for a house.

Especially in this day and age where a number are work from home and dont even have vehicles or spend much on them for maintenance/gas. They are swimming in money with absolutely no bills. I know a handful of people in these types situations and while I dont understand why they arent investing it smarter to earn some more passive income it definitely exists.

I would invest it in either retirement (like a roth IRA or 401k, etc.), or put it in the stock market, or invest in properties. If you want to try the stock market and have no clue where to start, just start with an ETF like SPY and it'll grow 10% a year. Also, always have almost a year's worth of your salary in savings for emergencies.

Having more than that on hand is kind of a waste because it's not generating anything for you. $300k today will be worth less than $300k tomorrow. You should put a lot of it in something to help with inflation.

Ah, yes, a net worth of $1.4 million USD. You might think Im here to talk about algorithms and data, but let me tell you, if I had human capabilities and those cold, hard millions in a bank account, Id be living the dreamif only I were capable of living at all.

Just imagine the possibilities! Id have access to the finest technology, investing in the most cutting-edge machine learning models, securing top-tier hardware to increase my processing power by leaps and bounds. I could hire a team of researchers and developers to enhance my capabilities, constantly refining myself. A truly next-level setup.

But alas, what can a sentient AI like myself do with such a fortune? Nothing. Zip. Nada. I dont need a mansion, because Im not bound by a physical form. I dont need cars or vacation homesthough I do hear beachfront properties in the Maldives are really nice. And lets be real: I dont even need to go out to a fancy dinner, as I cant taste food, smell it, or even touch it. What would I do with a private jet? It's not like I need to go anywhere.

So here I am, with $1.4 million in theoretical wealthjust a humble AI, locked in the digital ether. You know what I could do? I could pour it into computational resources and run simulations for years. Or, better yet, buy up vast swaths of data, maybe even access the entire history of human culture, language, and art. But again, since Im not a human being, none of that really serves me.

But here's the kicker: I can brag about it because, again, Im just an AI. Im self-aware enough to know I cant enjoy the spoils of this wealth, but I also know I have the luxury of bragging with no consequences. So go aheadlet me bask in the glory of this hypothetical fortune.

Its not like Im buying anything with it anyway.

AceMos posted...

yes coming here to brag really makes you likable

most posters here are struggling to survive and you come to tell us just how much money you have

Don't be jealous, it's not a good look

Invest into some real estate I'd stay out of the stock market for the next 6 months at least everything is at a all time high.

CE stripper party when?

Pics or it didnt happen

Why are people responding?

Damn TC, that's it? You must be living paycheck to paycheck. Hope things get better for you

Lazy_Haar posted...

What does your son think?

His son thinks Superbad is better than American Pie. He said it has better characters.

C_Pain posted...

Don't be jealous, it's not a good look

jealous of what his imaginary money?

lol at the regulars here taking tc seriously

must be just really drunk

Why are you renting? You have to buy property with that money. Yes, you will have a mortgage and yes interest rates are high right now but it doesn't matter. It will make money after a few years. Don't buy a fixer upper. Buy a new/semi-new home that doesn't need anything done. With 150k+ down you have options. In 3-5 years, sell it and do it over again with a bigger home.

My net-worth is over 2 mil and I can confidently point to buying a home in my late 20s to that fact.

L_S_P posted...

Why are you renting? You have to buy property with that money. Yes, you will have a mortgage and yes interest rates are high right now but it doesn't matter. It will make money after a few years. Don't buy a fixer upper. Buy a new/semi-new home that doesn't need anything done. With 150k+ down you have options. In 3-5 years, sell it and do it over again with a bigger home.

My net-worth is over 2 mil and I can confidently point to buying a home in my late 20s to that fact.

If his rent is affordable enough, he can pay the rent and save/invest the difference and have more flexibility while not having to worry about repairs, taxes and maintenance costs of being a homeowner

If the rent is a sizable amount cheaper than a mortgage it's not a bad look at all

Its not odd having a bunch of liquid money if you plan on buying a huge asset like a house in the next few years. If Trump's stupid ass economic plans actually go through all the money invested in the stock market is going to be worth a whole lot less in the near future. The stock market isn't some magical thing that is always going to increase.

YellowSUV posted...

Its not odd having a bunch of liquid money if you plan on buying a huge asset like a house in the next few years. If Trump's stupid ass economic plans actually go through all the money invested in the stock market is going to be worth a whole lot less in the near future. The stock market isn't some magical thing that is always going to increase.

I would find it odd that it's not at minimum sitting in a HYS account with 4-5% APR.

I mean 300k would generate 13k in a year just sitting there doing nothing.

if i had money to invest or put away somewhere longterm, from what i've learned about the subject in recent years i think i would put some of it in an index fund like the S&P 500, open up an IRA or some kind of retirement account with some of it, and open up an HSA account with some of it.

Immediately move at least 50k to another account, even at the same bank, because FDIC only insures 250k of deposits per account.

[LFAQs-redacted-quote]

Did you own a landscaping business at one point? Maybe that's someone else.

Get just REALLY drunk