Originally Posted by brightside
Here's what I'd do, in no particular order:
I'd put $250k in a Roth IRA
$200k in high interest yielding savings account
Pay for the rest of my college education.
Buy my dream horse (gelding, draft cross, hunter!)
Buy a nice house & furnish it
I'd pay off my current car, put tasteful rims on it and a rear lip spoiler.
Pay off my boyfriend's debt
Buy my boyfriend a truck
Set up a college fund for my little brother
Whatever is left will be used for bills that come w/ owning a home and a horse. :)
I love your goals, let's see how that would add up around here . . ..
. After the Roth and the bank account, you'd have 550k left. A house (maybe 200k?around here that would buy you a studio condo here, or a rundown cottage), a college education? Costs at University of Washington are currently @ 4k$ a quarter for tuition alone, + books and misc (assuming you lived at home) , 4 years would be about 55k$ . If you take 12 quarters and live at home. Now, a junior college could be cheaper.
Don't know what furnishing your house would cost, but it could easily be 30k after you add in appliances and mattresses and a couch.
A truck? Maybe 25k? Depends on how big of truck.
So, you've got about 310k left.
So, now you pimp your ride, pay off your BF's debt and send brother through college. I think you can make it! I wasn't sure at first, but I think you can make it! You'll be nearly broke when your done, but you'll have had a good ride!
Oh, I'd like to know what savings account pays high interest. Most don't even pay 1%!