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Old 12-07-2014, 12:04 PM   #1
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An unexpected Christmas Windfall

Sometimes the USPS delivers something useful instead of a pile of junk mail. I received a check yesterday for 12k. It was from an old Roth account I had at a former employer years ago, and I had completely forgotten about it. It will only add about 2k to my taxable income since it was already taxed.

Question now is what to do with it. The folks here at the forum have been invaluable in assisting me with spending money....I mean they EXCEL at it.
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Old 12-07-2014, 12:23 PM   #2
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Hi: rbryan4...My wife and I had a similar situ. except ours was a gift. My plan was simple. Deposit it in a retirement acct. Use 1/2 the deduction one year and 1/2 the next to maximize the return from taxes. Then spend the refunds. Thus having ones cake and eating it too!!! Hope you'd still be of an age to do this. BTW... Merry Christmas. Alf
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Old 12-07-2014, 12:41 PM   #3
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More OPTIONS....
Anything left after that goes into your gas tank and more holidays.

Cheers
Doug
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Old 12-07-2014, 12:53 PM   #4
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Now here you all are being sensible. Who knew?
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Old 12-07-2014, 01:02 PM   #5
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I'll be sending you my mailing address shortly--- FRIEND!
Tom
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Old 12-07-2014, 01:18 PM   #6
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Now here you all are being sensible. Who knew?
Hi: rbryan4... We're all in this trailer together eh!!! Besides I like to make the gubber mint pay for it. Tax avoidance is legal...tax evasion isn't. Alf
escape artist N.S. of Lake Erie
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Old 12-07-2014, 01:30 PM   #7
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Sometimes reducing your debt can help your ease your daily life. Some money experts suggest you use borrowed money and keep your cash in the bank. I prefer to be debt free as possible.
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Old 12-07-2014, 02:26 PM   #8
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Sometimes reducing your debt can help your ease your daily life. Some money experts suggest you use borrowed money and keep your cash in the bank. I prefer to be debt free as possible.
My philosophy too. Being as debt free as possible should be everyone's goal. But, there are times for us when debt works. Most of the furnishings in our home for example were purchased with 12 months same as cash. The balance we would have spent up front went instead into an interest bearing account, and we made money off it. When they're handing out "free money", it can sometimes make sense to take advantage of it.
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Old 12-07-2014, 02:27 PM   #9
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Question now is what to do with it.
Oh, oh oh.....pick me, pick me!!!

Why don't you go pick up your trailer from Escape, then swing by Calgary, and I will have LOTS of great ideas for you, that you will just love. And, so will I.

I could also help you brush up on your metric, while we sample some of my many bottles of Scotch.
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Old 12-07-2014, 02:30 PM   #10
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Hi Rbryan,
That's a nice problem to have some how I don't think you need any help figuring out how to solve that problem.
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