Comments on: Here’s $25K. Now Go Spend It! http://www.justonemoreyear.com/heres-25k-now-go-spend-it/ One couple's story of escaping 9 to 5 until 65 Wed, 20 Jul 2016 17:22:09 +0000 hourly 1 https://wordpress.org/?v=4.5.11 By: Bryan http://www.justonemoreyear.com/heres-25k-now-go-spend-it/#comment-501 Thu, 04 Feb 2016 22:58:09 +0000 http://www.justonemoreyear.com/?p=1156#comment-501 Abby, you have some low hanging fruit with the implants. I know that has been a goal you have been working on with Tim to achieve – with recent success. Wouldn’t it be great to be able to take that money to use on something else?

I like the idea of a “Man Cave” and other house projects. The adoption idea could be one of the greatest uses and gifts to a child. That one sounds the best!

]]>
By: ARB http://www.justonemoreyear.com/heres-25k-now-go-spend-it/#comment-500 Thu, 04 Feb 2016 04:53:53 +0000 http://www.justonemoreyear.com/?p=1156#comment-500 I should make my own camp. Like a banker’s boot camp or something.

Thanks for being my number 1 fan, Bryan!

Sincerely,
ARB–Angry Retail Banker

]]>
By: Bryan http://www.justonemoreyear.com/heres-25k-now-go-spend-it/#comment-499 Wed, 03 Feb 2016 21:06:02 +0000 http://www.justonemoreyear.com/?p=1156#comment-499 I think you are in my wife’s camp with spending the money on travel related experiences. We also have too much stuff and now no real room to put store it in our downsized home.

For me it is going to be a combination of buying something and spending on experiences. (Medium please) This is a real life example I will be sharing in a post coming your way soon!

]]>
By: Abigail @ipickuppennies http://www.justonemoreyear.com/heres-25k-now-go-spend-it/#comment-498 Wed, 03 Feb 2016 21:03:21 +0000 http://www.justonemoreyear.com/?p=1156#comment-498 Hmmm does getting Tim’s dental implants done count as savings/debt? I’ll assume yes.

In that case, I’d take Tim on a nice vacation. For reasons too long to explain, our travel choices are a bit limited right now. So probably DC (he’s never been and there’s so much to see) or LA/Orlando (theme parks!!!!). For two weeks — don’t want to take too much time off work — call it $3k to stay in nice but not crazy nice hotels.

I’d get the garage set up to be a man cave for Tim with a pool table, which is his latest obsession. That’s more difficult than it sounds. We’d have to brick up the garage door, get a/c in there, maybe put a door in our dining room that leads to the garage. So call it… $5k-7k.

There are some upgrades/repairs I wouldn’t mind making around here. A few nice clothes for me in my new size.

That or take the money and try to get an adoption going. An older child, probably, given our health conditions and a few other factors that make us less desirable.

]]>
By: Bryan http://www.justonemoreyear.com/heres-25k-now-go-spend-it/#comment-497 Wed, 03 Feb 2016 21:02:46 +0000 http://www.justonemoreyear.com/?p=1156#comment-497 Sabbaticalia,

Welcome to our site and thanks for commenting. I appreciate it! 🙂

Two things I like about you already: 1) you are in ARB’s camp (he does have a camp) and I am his number #1 fan and 2) you have the same dilemma I face with spending money.

I want to get all the possible value and utility from my purchases. The thought of prepaying for ten years of service is a good one. I thought I was being clever by dining out for 2 years, heck you get 10 – 20 years of value.

Take care,
Bryan

]]>
By: Bryan http://www.justonemoreyear.com/heres-25k-now-go-spend-it/#comment-496 Wed, 03 Feb 2016 20:53:15 +0000 http://www.justonemoreyear.com/?p=1156#comment-496 ARB,

It is weird that we can easily figure out how to spend a billion or $10,000,000, but we have a hard time with $25K. I believe that if we made the number $10K it would be just as difficult.

The $25K amount is something that is within many or our readers reach to receive. Perhaps it is some long lost relative passing away and leaving you money or your company went public and everyone gets bonuses. The fantasy of having millions allows us to dream a bit more and believe we can do everything we want now – since we are stinking rich. I plan on writing an article soon about how we spent $25K recently.

Take care and we will chat after the vacation.

]]>
By: John http://www.justonemoreyear.com/heres-25k-now-go-spend-it/#comment-495 Wed, 03 Feb 2016 13:49:04 +0000 http://www.justonemoreyear.com/?p=1156#comment-495 I think I’d probably use most (or all) of it for experiences, maybe travel related. At this point in my life, I have enough junk……er, I mean stuff…..and while it’s nice, it’s not the kind of nice that lasts forever (like the memories of a nice, top-rated trip). As I’ve gotten older, fond memories are more valuable to me than simply more assets.

Fun to think about!

John

]]>
By: Sabbaticalia http://www.justonemoreyear.com/heres-25k-now-go-spend-it/#comment-494 Wed, 03 Feb 2016 13:44:49 +0000 http://www.justonemoreyear.com/?p=1156#comment-494 I must be in a strange mood today. Normally, I’d be in ARB’s camp, unable to even start generating possibilities. Today my answer blinked its way out: “prepay my state taxes … for the rest of my life”. Prepaying expenses, with a potential for becoming a contribution if my wife decides we move out-of-state in retirement — hmm, maybe that fails the conditions.

Try again! I think I’d like to experience not worrying about yard-work or whether my wife skips the quarterly vacuuming again. $25k would cover ten years of twice-monthly service from gardener and housekeeper. Or twenty years of gardener service, in case she stands firmly to principle (and pride) by driving away the housekeeper.

Yeah. I’ll go with that.

]]>
By: ARB http://www.justonemoreyear.com/heres-25k-now-go-spend-it/#comment-493 Wed, 03 Feb 2016 03:33:48 +0000 http://www.justonemoreyear.com/?p=1156#comment-493 You know what’s amazing? Financial Samurai made a post awhile back about what you would do with $10,000,000. A lot of people couldn’t think of anything specific, gravitating towards broad answers such as “I’d pay off my student loans, take a nice vacation, and then I don’t know.” Me on the other hand? I immediately without a second thought was able to detail an entire financial plan for every penny of those funds, complete with dividend investing, real estate investing, emergency funds, everything. All down to the penny. And then I was able to lay out exactly what I would do with my life after achieving financial freedom.

Here? With $25,000 and no saving or investing allowed? I honest to God cannot answer that question. I can bang out a financial plan for $10 million in minutes (and that’s no exaggeration. It took me literally less than 3 minutes to figure it all out in detail from scratch), but I could never figure out how to spend $25,000.

I don’t know whether that says something positive or negative about me, or at all.

Sincerely,
ARB–Angry Retail Banker

]]>