What do you do?

EdFred

EdFred

Taxi to Parking
Joined
Feb 25, 2005
Messages
31,402
Location
Michigan
Display Name
The Ed
Home Airfield
9D9 / 6Y9 / 88TN
You've already got your house paid off, your land vehicle is less than 2 years old, you've already got a good retirement fund started, you have no other outstanding debt, and you come into about $700,000 (pre-tax).

What do you do?
Discuss.
 
for starters, turn green with envy.
Next, fly to North Dakota in my own plane.
Then go rig the plane with some ferry tanks and fly to Hawaii and back.
Then head up to Alaska and back.
Then, put whatever's left over into savings and go practice like mad until I can become a touring PGA pro.
 
deafsound said:
for starters, turn green with envy.
Next, fly to North Dakota in my own plane.
Then go rig the plane with some ferry tanks and fly to Hawaii and back.
Then head up to Alaska and back.
Then, put whatever's left over into savings and go practice like mad until I can become a touring PGA pro.
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I see someone knows what the payout is for event #27. :goofy:
 
as much farmland as I can get, with a house on it. Sod out a runway and buy a 150. Cash rent the land and start instructing.
 
tonycondon said:
as much farmland as I can get, with a house on it. Sod out a runway and buy a 150 with a towhook. Cash rent the land and start instructing.
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Fixed that for you. :D
 
My first worry would be who died? On the upside I would ask when did you sell the business? ;)

Invest $600,000 with a REALLY good money manager (e.g., mine has returned 20%+ on a regular basis). Take $50,000 to invest yourself (land, stocks, bonds, OIL, etc.). Use the last $100,000 to buy a nice used plane and set aside what is left of the $100,000 to help pay operating costs.
 
EdFred said:
You've already got your house paid off, your land vehicle is less than 2 years old, you've already got a good retirement fund started, you have no other outstanding debt, and you come into about $700,000 (pre-tax).

What do you do?
Discuss.
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RETIRE, and quit doing the stuff that ain't fun.
 
EdFred said:
Fixed that for you. :D
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true, a 150 hp 150 would be a perfect balance of cross country machine and towplane. it'd need to be IFR too. and id need to get Leah her private and towpilot endorsement, but that'd be no problem.
 
lawingr said:
My first worry would be who died? On the upside I would ask when did you sell the business? ;)

Invest $600,000 with a REALLY good money manager (e.g., mine has returned 20%+ on a regular basis). Take $50,000 to invest yourself (land, stocks, bonds, OIL, etc.). Use the last $100,000 to buy a nice used plane and set aside what is left of the $100,000 to help pay operating costs.
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I see why you need a money manager. :rofl:

You've spent 750,000 out of 470,000. (the 700k was pretax)
 
EdFred said:
You've already got your house paid off, your land vehicle is less than 2 years old, you've already got a good retirement fund started, you have no other outstanding debt, and you come into about $700,000 (pre-tax).

What do you do?
Discuss.
Click to expand...

Mail order bride?

:rofl::rofl::rofl::rofl:
 
My $.02 on the windfall

Take some of it, 10 to 20%, for a gift to yourself. You deserve it.

then take the rest and invest in your future. See a professional, set your goals and get the accounts/land/mattress ready.
 
DUHHHH!!!!! The reason the house is paid off was the sale of the airplane. Buy an airplane.

Invest the rest.
 
Missa said:
DUHHHH!!!!! The reason the house is paid off was the sale of the airplane. Buy an airplane.

Invest the rest.
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That was my first thought but upon reflection I think it would be: buy an airplane, use the rest to pay for the fuel it consumes.
 
Give it to Henning to spend on drugs and hookers, record the results and put up a pay-per-view web site.
 
lancefisher said:
That was my first thought but upon reflection I think it would be: buy an airplane, use the rest to pay for the fuel it consumes.
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No, invest the rest and pay for the fuel off the proceeds of the investment and your job as greater at wallmart. :rofl:
 
FlyNE said:
Did you buy a twinky?
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You'd certainly be well-preserved!

iStock_000000562559XSmall.jpg


Ingredients
  • Enriched Wheat Flour (enriched with ferrous sulfate (iron), B vitamins (niacin, thiamine mononitrate [B1], riboflavin [B2] and folic acid))
  • Sugar
  • Corn syrup
  • Water
  • High fructose corn syrup
  • Vegetable and/or animal shortening (containing one or more of partially hydrogenated soybean, cottonseed or canola oil, and beef fat)
  • Dextrose
  • Whole eggs
2% or less of:
  • Modified corn starch
  • Cellulose gum
  • Whey
  • Leavenings (sodium acid pyrophosphate, baking soda, monocalcium phosphate)
  • Salt
  • Cornstarch
  • Corn flour
  • Corn syrup solids
  • Mono and diglycerides
  • Soy lecithin
  • Polysorbate 60
  • Dextrin
  • Calcium caseinate
  • Sodium stearol lactylate
  • Wheat gluten
  • Calcium sulfate
  • Natural and artificial flavors
  • Caramel color
  • Sorbic acid (to retain freshness)
  • Artificial color (yellow 5, red 40)
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With all that stuff, it probably would fly!



:goofy:
 
If you want to make your twinkie
Homemade Twinkies Recipe #110009

I have made these for years. Everyone loves them. They would auction them off at a fundraiser at a local church for $5.00 each piece. I would bake 3 pans to try to fill the demand. I have used 1 cup butter and no crisco and it turned out fine. My daughter always request this for her birthday.
by MelinOhio
1½ hours | 30 min prep | SERVES 12 1 cup milk 5 tablespoons flour 1 cup sugar 1/2 teaspoon salt 1/2 cup Crisco 1/2 cup cold butter 1 teaspoon vanilla 1 baked yellow cake
  1. Mix flour with milk and boil until thick.
  2. (It will be very thick) Cool.
  3. Beat until fluffy and add other ingredients one at a time beating well after each addition.
  4. Put between layers of cooled cake.
  5. Let stand one day to develop flavor.
  6. I wrap individually in plastic wrap.
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  1. ;)
 
EdFred said:
I see why you need a money manager. :rofl:

You've spent 750,000 out of 470,000. (the 700k was pretax)
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Point well taken. However, you are an engineering guy, apply the same ratios to the lower amount. Seriously, my money manager is a local guy, so if you're interested give me a call or email me. My parents use him as well. They lost a lot of money in the downturn with their Ameriprise guy. This guy had them back to and above their previous amount within 3 years and they are happily retired :D
 
As with most things in life it depends on your utility curve. If you were very conservative and hoped for an early retirement you would probably invest it all. If you have the time and interest you could manage your own portfolio or if not, hire a professional. Investment choices would depend on your time horizon.

Or you could spend 90% of it on booze, women, food and flying, and then waste the other 10%.

Or, as is far more likely, some combination of the above which you find satisfactory.
 
EdFred said:
You've already got your house paid off, your land vehicle is less than 2 years old, you've already got a good retirement fund started, you have no other outstanding debt, and you come into about $700,000 (pre-tax).

What do you do?
Discuss.
Click to expand...

An airplane would definitely be on my list! And a good talk with a financial guru/tax expert.
 
Donate some of it to charity. Give some underpriviliged people some health insurance, or fund an art studio for a local school, or buy solar panels for your community, or whatever is that "thing" that you think is really important for making the world a better place.

--Kath
 
kath said:
Donate some of it to charity. Give some underpriviliged people some health insurance, or fund an art studio for a local school, or buy solar panels for your community, or whatever is that "thing" that you think is really important for making the world a better place.

--Kath
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Billboards of me in every major city it is! :rofl:
 
EdFred said:
Billboards of me in every major city it is! :rofl:
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Well your picture is up in every post office already ;) ;)

You know one of the things you could fund really easily is a scholarship fund. The 'Edward Frederick scholarship for Airport Management' Put up $10 or $20k and that would fund a $1-$2k/ year scholarship. It would help a little with the cost of an education.
 
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So Ed, what are you gonna do with your WSOP winnings? There were winnings, right????
 
Money is the root of all evil. To keep being a nice guy, you should divest yourself of the entire windfall and give it some some deserving sh*t like myself.
 
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vontresc said:
So Ed, what are you gonna do with your WSOP winnings? There were winnings, right????
Click to expand...

steingar said:
Money is the root of all evil. To keep being a nice guys, you should divest yourself of the entire windfall and give it some some deserving sh*t like myself.
Click to expand...

You can have 100% of my winnings - which was $0.
 
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