If you had 100K hypothetically

[Ray]

Pay off the house and place the rest in an investment account.
After paying off the house, I could put more in my 401K.
I am too close to retirement to put into anything long term.

["W"]

Originally Posted by Ray

Pay off the house and place the rest in an investment account.
After paying off the house, I could put more in my 401K.
I am too close to retirement to put into anything long term.

Ray I meet with a stock broker / Lawyer of one of my buddies...This guy is big time... He told me never pay your house off if your working or can afford it............Reason #1 Only thing you got is your house.......He said with the way people sue these days.....A paid off house will get taken....if the case is right..... He won cases where a house was paid off and got the deed!!!! Or if you pay it off.....take a 2nd mortgage out on it for 10,000 on it and run it 20 years...

They cant take a house that mortgaged......YET...Obama might change that

[ROOSTER]

Originally Posted by "W"

Ray I meet with a stock broker / Lawyer of one of my buddies...This guy is big time... He told me never pay your house off if your working or can afford it............Reason #1 Only thing you got is your house.......He said with the way people sue these days.....A paid off house will get taken....if the case is right..... He won cases where a house was paid off and got the deed!!!! Or if you pay it off.....take a 2nd mortgage out on it for 10,000 on it and run it 20 years...

They cant take a house that mortgaged......YET...Obama might change that

That is a stupid reason not to pay off your house..

and you can homestead it.........geez..............

[LaAngler]

Originally Posted by Ray

Pay off the house and place the rest in an investment account.
After paying off the house, I could put more in my 401K.
I am too close to retirement to put into anything long term.

depends on the return of your investment vs your interest rates on your house loan, and payoff amount of course.

I would buy a slightly used 29 foot yellowfin with merc 350 verado X 2

you only live once (as far as i know)

[fishmaster911]

i would buy me a new boat!

[PUREBAY2200]

Originally Posted by LaAngler

depends on the return of your investment vs your interest rates on your house loan, and payoff amount of course.

I would buy a slightly used 29 foot yellowfin with merc 350 verado X 2

you only live once (as far as i know)

I'm with ya here Bruce.
I work with money all day.
I have had many clients come into money ranging from 25k- 1.5 million.
It's just depends on Ur income and debt at the time.
Paying off Ur house may seem like a good idea ... BUT
if Ur mortgage isn't killin u it's is usually better to place Ur money in some kind of investment.
Never a risky one. Regardless of how much of a return is possible.
B smart.
Pay off short term debt. Credit cards, student loans etc.
Then buy that yellowfin and have fun!!!!! Lmao!!!
Seriously though I have seen people blow thru and inheritance like it's an INCOME.... Spend spend spend!!! U ain't gonna have much fun when Ur money runs out.... Ull look like a fool!

[fishinpox]

ill show you how to spend that **** hit me up we'll spend 50,000 you'll need the other 50,000 for rehab after i get done with ya!!! all joking aside i would buy some properties while the market is down and keep em as rent houses untill the market changes for the better then flip em

[TTF FISHING]

1. I would buy 4 $25,000 10 year AA Rated Tax Free Muni Bonds(School Dist are good) get a tax free yearly return of 4-6% and the 100,000 is returned at end of year 10.
2. Next, I'd go to my bank and use My 100K Muni Bonds as collateral for a 100K Loan. Interest rates are low and your Muni Bonds are earning income.
3. I'd look for a business I could run while still working at my current job or find a business or product line that fits well with my current business.
4. I would pay of the loan with my new business income and muni bond income.
5. When I pay off my loan, I'd see where my Muni Bonds stood. I would either sell them or wait till they matured depending on how long it took me to pay off the loan.

I would end up with my original 100K and a debt free income producing business or new product line for my current business.

I'd do it all over again and again....