Comments on: The $20,000 Answer

By: J. Money

J. Money — Sat, 29 Aug 2015 19:02:09 +0000

In reply to Justin. Assets are where it's at!

By: Justin

Justin — Fri, 28 Aug 2015 22:09:31 +0000

In reply to Jen @ Master the Art of Saving. The best thing I did with my 20000 was invest it in real time property and to be able to say that I have assets is the best thing I ever did I also do loans for every 100 dollars I loan I want 150 back I guess you could say I am a loan shark lol

By: J. Money

J. Money — Sat, 01 Sep 2012 19:39:47 +0000

We’ll def. be moving, but probably not buying as it will be a short term thing for probably only one or two years. After that we’ll see if we want to stay put (and we’ll then buy), or pick up and go somewhere new… It’s kinda exciting not knowing what’s next :)

By: Pauline

Pauline — Sat, 01 Sep 2012 13:35:22 +0000

I manage my properties from abroad and although they are low maintenance, it can become a hassle with needy tenants. In your case I would keep the money and use it for a downpayment on your next home, if you are moving.
It is so nice to be home and not rent, especially with a little one, unless your next move is a short term one.

By: J. Money

J. Money — Thu, 30 Aug 2012 13:01:10 +0000

Maxing out my accounts have been my #1 goal every year for 5 years now :) Even though I tend to get off track and come up with new plans and ideas, haha… but as long as I do that one thing every year I feel like it’s a success. And I almost slipped up!

By: Brent Pittman

Brent Pittman — Wed, 29 Aug 2012 20:24:33 +0000

That’s too funny that you had already pre-decided earlier in the year how you’d spend the money. Good thing you did a goals review before making any decisions. I agree funding those retirement accounts was a wise decions.

By: J. Money

J. Money — Wed, 29 Aug 2012 14:13:43 +0000

Thanks for all the comments and reassurance I probably did the right thing :) It’s not as exciting to me like either of the first two options would have been, but overall I’m pretty happy with the decision and think it’ll serve us well over the years. So another chapter closed out!

@tom – Yup! Def. thinking about it more, just haven’t agreed 100% yet and pulled the trigger… still want to poke around a little, but it’s on the top of my list :) I already have a little set aside specifically for it once we’re ready.
@Ginger – I think so too, though it still kills me not to knock away more of that mortgage :(
@Sean @ One Smart Dollar – Yeah, at least it’s a good problem to have though, eh? :)
@Joe @ Retire By 40 – That’s what I’m thinking too… and if I DO fall in love with it and want to expand my empire more, I can easily just do so either in that same area, or the new one we have since moved to. So probably best to start with baby steps :)
@Samantha – I’m halfway jealous of you too :) I wish I could keep my foot down and just plow forward without any other goals in mind like retirement, but I just can’t do it quite yet…
@DebtsnTaxes – Thanks :) You’re right, in both areas it’ll look good so it’s just a matter of which is most important to you at the time!
@Jen @ Master the Art of Saving – Haha… the old me would have had more fun with it too ;) Now I’m an old fart and my Net Worth has become my playground!
@Bryan – Thanks, I’ll check them out :) Though I’m not that good at making a lot of changes once I’m invested in something, so it may not be that good if things DO change and I forget to cash out, haha… but I’ll look into them here in a few once I post this up. Thanks.
@Mrs. Pop @ Planting Our Pennies – Roths are awesome!! I don’t know much about the Personal 401(k) myself, but I can bring it up to my accountant and ask her what she thinks. She was the one who thought the SEP was the best option at the time (2 years ago) but maybe things have changed?
@Aaron Hung – You’re so right, I’m not gonna deny it! It WOULD make me feel a ton better than the IRA route, but financially this is one of the times I’m gonna stick with what makes the most sense and close out my emotions… which is SUPER hard for me to do. I swear though, if I get another chunk of money anytime soon you better believe it’s going right to those mortgages! ;)
@Jacob @ iheartbudgets – Me too :) And I’m looking forward to it!! Worst case I hate it and then we just sell and take the loss once and for all and be done with it. But best case? I get addicted to renting out properties and just build up my own litle empire as time goes on, haha… only time will tell!
@Donna Thompson – Awww, thanks Donna! You totally made my morning :) Baby $ would wave back to you if he wasn’t a slobbering pile of cuteness!
@LB – Yeah, each option had its own set of pros that’s for sure. Good job on investing some of that birthday money too – it’ll be the gift that keeps on giving over time! ;)

By: LB

LB — Wed, 29 Aug 2012 02:10:30 +0000

In my own life I took some birthday money and gift money and stuck it in my retirement. The only difference is I don’t have any debt, so tough call. Either way I think you would be fine. :)

By: Donna Thompson

Donna Thompson — Tue, 28 Aug 2012 23:48:21 +0000

Thanks, J$… after you showed me how you thought it through, I agree with that decision… and, just want to say that sometimes decisions are best after thinking them over without the pressure of spur of the moment choices! Congrats on the new family member and God Bless you all. I thank you for your newsletters and thoughts!

By: Jacob @ iheartbudgets

Jacob @ iheartbudgets — Tue, 28 Aug 2012 23:22:21 +0000

You’re creating more income in the future, with a better ROI. I agree with your decision. Though it is much more fun to speculate real estate, I think you will have a chance in the very near future to do that. :)