Yahoo Answers is shutting down on May 4th, 2021 (Eastern Time) and beginning April 20th, 2021 (Eastern Time) the Yahoo Answers website will be in read-only mode. There will be no changes to other Yahoo properties or services, or your Yahoo account. You can find more information about the Yahoo Answers shutdown and how to download your data on this help page.
Trending News
$30K gift money. What to do with it?
That's not a lot TOTAL. But it's a pretty nice sum that we didn't work for and that was gifted to the 2 of us.
What to do with it? Any advice or suggestions would be appreciated. Thank you!
13 Answers
- Ron AkiaLv 71 year ago
I would set aside an emergency fund of 3-6 months living expenses and then pay off whatever outstanding debt I had. You probably don't have enough for all of that but get started.
- STEVEN FLv 71 year ago
I would need to know more about your current financial status to give advice. If I received $30,000 after tax, about $10,000 would go into an emergency fund. The next $10,000 would pay off the furnace I had to purchase this year. The rest would significantly update my car.
- zipperLv 71 year ago
Bank it, pay down bills with it, send it to me. Lay it on the bed and look at it! You have a lot of choices here!
- Casey YLv 71 year ago
Depends on what other assets you have and your current income.
If you didnt have an emergency fund built up...you do now.
- How do you think about the answers? You can sign in to vote the answer.
- Anonymous1 year ago
Invest, $1000 a month for the next 30 months. S&P 500 index fund. Then add more after that. Don't consider touching it for 30-40 years.
- Anonymous1 year ago
First, split it evenly, so there is no fighting later. Then save some, and then go have some fun with the rest of it!
- ANDRE LLv 71 year ago
Well, for one ting, asking in Personal Finance would make better sense.
Right now, I'd say staying out of stocks would be the right choice. Insured investments, like a good mutual fund, would be best.
In the US, you should be OK for taxes, gifts of $15K a person per year are tax free.
- Anonymous1 year ago
Have sex! Sex is always more fun with money