What to do with $20k, What is the smartest thing to do... Options

[bloodrain]

Well, I got a nice little end of the year bonus and Im trying to figure out what to do with it. Im 19 years old living with my dad. I hardly have any bills ($170 for insurance, $35 for my cell phones (not each phone)) I would love to get a nice supra or something, but Im thinking thats not really reasonable, because in cars, you only loose money. Im just trying to figure out what to do with the money.

[lagos]

ill give you a little tip. number one, DO NOT TELL anyone you have that much money. you shouldnt even be on here talking about it.

number two, as soon as you spend 1 dollar of it, it will ALL be gone before you know it. put it into a savings account like forkee said, and just forget about it.

if you DO want to do something smart with it, think about using it to buy a house. you can use part of the money as a downpayment, and then rent the house out. the money you get from the renters will cover the morgage and in a few years you can sell the house and make a nice chunk of change from it.

This post has been edited by lagos: Jan 1, 2006 - 8:05 PM