I have 82,000 cash. What would you do?

Call the boss tell him "something came up" and you need a week or two off, go to Vegas for a week, then if you have any $ left go to the Bahama's LOL

 

I think a lot would depend on whether you have kids or not. If you don't have, and won't have kids, then the money just has to last you for the rest of your life. My way of thinking is that if you have kids, then the money has to last forever. I'm not a fan of giving without earning, but having a business that kids can grow up in is a huge boost up in life. They still have the option of striking out on their own, but they also have a place where they can learn the ropes of business and help you at the same time. You can't really hand down a company job to your kids.

As far as passive investments, I would avoid any of them that keep score in U.S. dollars, or any fiat currency for that matter. The inflation monster will take nearly everything over your lifetime. Fiat currency is designed to allow for inflation which translates to devaluation for you and me. It won't be long now and a million dollars won't seem like much. If you do go into silver, stay with "junk" silver which is just basically the value of the weight of the silver in the old silver coins. I'd stay away from numismatic value coins and collectible this and that. You want something with no blue sky attached. Look to invest in commodities that are undervalued compared to other commodities. Try not to look at values in terms of U.S.dollars, compare everything to commodities that you can actually use, tires, fuel, food, etc. I would also look at passive investments as a way to store wealth, not a way to generate wealth. Unless you hit a stroke with a Microsoft or some such, you'll have to work for your wealth. Your dad gave you a boost up, it's only right that you multiply it and pass it to your kids.

 

There are no 5.12% interest CD's out there today. Even 7 year CD's don't pay over 3%

 

read the whole thread before posting.

 

What I am hearing is if you are broke then buy a truck and try to survive but if you have $82,000 then you should kick back and save your money while driving for somebody else. Doesn't make alot of since to me as that seems like doing it backwards. Alot of guys on here have payments on their trucks and seem to be doing okay so with a paid off truck you should do just fine. $82,000 is hardly enough money to do anything with and Being a company driver isn't enjoying life.

 

So I guess these paper Certificates of Deposit from my bank that states "Interest Rate - 5.120%" and the monthly statements I receive, too, are both imaginary? Just because YOU are not receiving an interest rate over 3% doesn't mean that anything higher doesn't exist.

And this, folks, is why my husband and I hired a trusted & licensed CPA/financial advisor after my father-in-law passed away so we could not only manage our own finances, but those left behind by my FIL.

 

I didn't say you don't have them, I said there are no 5.12% CD's available today. If you get some preferential rate that's great for you, doesn't mean it's avail to anyone else. There is no 5.12% money available today without taking risk

 

I am a lease operator and I am happy about it. My truck is paid for and I net about $75K a year driving about 100K miles. If I was in your position I would buy a used tractor and become a L/O for Schneider, doing the same work as you are doing now, just not as much of it! You get a better life (or at least more control) owning your own tractor.

I think you have done the smart thing paying off all of your debts. This gives you an opportunity most drivers never have, becoming an o/o or l/o without the burden of unmanageable debt driving them.

good luck!

 

I took your reply of "there are no 5.120% interest CD's out there today" meaning that they don't exist - as I'm sure others here would assume the same.

 

I was just surprised at several posters who said put your money in CD's. Even a 5 yr Jumbo CD with 100,000 minimum pays 1.75% today. That's a negative real return. I also have some bonds that are paying 4.6% but couldn't buy them today when they mature, same bond is now under 2%. Government doesn't want you to save money, they want you to spend it to keep the ponzi going. Sorry for misunderstanding, wasn't questioning integrity of your post.