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12-07-2014, 11:04 AM
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#1
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Site Team
Join Date: Jun 2014
Location: Canyon Lake, Texas
Trailer: 2015 19 "Past Tents", 2021 F150 Lariat 2.7L EB
Posts: 10,222
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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.
__________________
"You can't buy happiness, but you can buy an RV. And that is pretty close."
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12-07-2014, 11:23 AM
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#2
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Senior Member
Join Date: Oct 2008
Location: St. Thomas not BVI., Ontario
Trailer: 2014 Escape 5.0TA / 2016 Ram Eco Diesel 4X4
Posts: 8,040
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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
escape artist N.S. of Lake Erie
__________________
Quote Bugs Bunny..."Don't take life too seriously, none of us get out of it ALIVE"!!!
'16 Ram Eco D. 4X4 Laramie Longhorn CC & '14 Escape 5.0TA
St.Thomas (Not the Virgin Islands) Ontario
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12-07-2014, 11:41 AM
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#3
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Senior Member
Join Date: Nov 2008
Location: Southern Alberta, Alberta
Trailer: 2015 Escape 5.0TA
Posts: 1,734
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More OPTIONS....
Anything left after that goes into your gas tank and more holidays.
Cheers
Doug
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Cheers
Doug
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12-07-2014, 11:53 AM
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#4
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Site Team
Join Date: Jun 2014
Location: Canyon Lake, Texas
Trailer: 2015 19 "Past Tents", 2021 F150 Lariat 2.7L EB
Posts: 10,222
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Now here you all are being sensible. Who knew?
__________________
"You can't buy happiness, but you can buy an RV. And that is pretty close."
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12-07-2014, 12:02 PM
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#5
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Senior Member
Join Date: May 2013
Location: Auburn, Washington
Trailer: 2013 Escape 21 #3
Posts: 385
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I'll be sending you my mailing address shortly--- FRIEND!
Tom
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12-07-2014, 12:18 PM
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#6
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Senior Member
Join Date: Oct 2008
Location: St. Thomas not BVI., Ontario
Trailer: 2014 Escape 5.0TA / 2016 Ram Eco Diesel 4X4
Posts: 8,040
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Quote:
Originally Posted by rbryan4
Now here you all are being sensible. Who knew?
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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
__________________
Quote Bugs Bunny..."Don't take life too seriously, none of us get out of it ALIVE"!!!
'16 Ram Eco D. 4X4 Laramie Longhorn CC & '14 Escape 5.0TA
St.Thomas (Not the Virgin Islands) Ontario
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12-07-2014, 12:30 PM
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#7
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Senior Member
Join Date: Jul 2010
Location: Rockwell, North Carolina
Trailer: 2015 Escape 5TA
Posts: 170
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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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12-07-2014, 01:26 PM
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#8
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Site Team
Join Date: Jun 2014
Location: Canyon Lake, Texas
Trailer: 2015 19 "Past Tents", 2021 F150 Lariat 2.7L EB
Posts: 10,222
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Quote:
Originally Posted by strawbarry
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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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.
__________________
"You can't buy happiness, but you can buy an RV. And that is pretty close."
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12-07-2014, 01:27 PM
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#9
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Senior Member
Join Date: Oct 2008
Location: Calgary, Alberta
Trailer: 2017 Escape 5.0 TA
Posts: 15,572
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Quote:
Originally Posted by rbryan4
Question now is what to do with it.
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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.
__________________
2017 Escape 5.0 TA
2015 Ford F150 Lariat 3.5L EcoBoost
2009 Escape 19 (previous)
“Most folks are about as happy as they make up their minds to be.” — Abraham Lincoln
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12-07-2014, 01:30 PM
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#10
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Senior Member
Join Date: Sep 2013
Location: Oak Creek, Wisconsin
Trailer: Escape 19 26/May/2014 Sold New trailer 2016 Bigfoot 25B21FB
Posts: 449
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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.
__________________
______________________
Mark & Karen Van Tiem 2014 Escape 19 sold, Now a Bigfoot 25B21FB Travel Trailer
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12-07-2014, 01:33 PM
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#11
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Site Team
Join Date: Jun 2014
Location: Canyon Lake, Texas
Trailer: 2015 19 "Past Tents", 2021 F150 Lariat 2.7L EB
Posts: 10,222
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Quote:
Originally Posted by Jim Bennett
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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Now THATS how to convince a 'stubborn American' to learn metric -- ply him with Scotch. Why didn't you just say that in the first place?:
__________________
"You can't buy happiness, but you can buy an RV. And that is pretty close."
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12-07-2014, 01:46 PM
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#12
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Senior Member
Join Date: Oct 2008
Location: Antelope, California
Trailer: 2009 17B "Suite Escape" pulled by a 2020 Toyota Sienna
Posts: 1,565
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Spend little, save a lot! Merry Christmas.
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Peace and Sunshine
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12-07-2014, 01:48 PM
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#13
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Senior Member
Join Date: Oct 2008
Location: Calgary, Alberta
Trailer: 2017 Escape 5.0 TA
Posts: 15,572
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Quote:
Originally Posted by rbryan4
Now THATS how to convince a 'stubborn American' to learn metric -- ply him with Scotch. Why didn't you just say that in the first place?:
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LOL... Just a bit slow this weekend.
__________________
2017 Escape 5.0 TA
2015 Ford F150 Lariat 3.5L EcoBoost
2009 Escape 19 (previous)
“Most folks are about as happy as they make up their minds to be.” — Abraham Lincoln
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12-07-2014, 01:49 PM
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#14
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Senior Member
Join Date: Jul 2014
Location: Tampa Bay Area, Florida
Trailer: 2015 Escape 5.0TA (Little Elsie) Extensively Personalized
Posts: 2,989
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Robert,
All that being said, my suggestion is this. Buy something nice for Mrs. Robert, and save the rest for camping trips or save it for when you do retire.
__________________
What a long strange trip it’s been!
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12-07-2014, 04:46 PM
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#15
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Site Team
Join Date: Nov 2008
Location: Portland, Oregon
Trailer: 2014 Escape 5.0 TA
Posts: 11,074
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I'd put it into an account and spend it 100% on the trailer. Whether site fees, fuel to go, or indoor storage. Or maybe all THREE!
Lucky problem to have
__________________
Donna D.
Ten Forward
2014 Escape 5.0TA
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12-07-2014, 05:07 PM
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#16
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Senior Member
Join Date: Jan 2012
Location: Surrey B.C., British Columbia
Trailer: 2012 Escape 19
Posts: 150
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Spend it all in Canada were it's worth $13,730.00CDN!
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Brian
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12-07-2014, 09:00 PM
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#17
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Site Team
Join Date: Jun 2014
Location: Canyon Lake, Texas
Trailer: 2015 19 "Past Tents", 2021 F150 Lariat 2.7L EB
Posts: 10,222
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Quote:
Originally Posted by Donna D.
I'd put it into an account and spend it 100% on the trailer. Whether site fees, fuel to go, or indoor storage. Or maybe all THREE!
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One part of me says save it, the other says YEAH, an account solely for RVing. I like the way you think Donna
__________________
"You can't buy happiness, but you can buy an RV. And that is pretty close."
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12-08-2014, 06:34 AM
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#18
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Senior Member
Join Date: Feb 2009
Location: San Antonio, Texas
Trailer: 2018 Escape 19
Posts: 374
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Ummm, Robert you know where I live so contributions always accepted!!!
Steve
__________________
Steve and Cynthia
San Antonio, TX
Escape 19 "Why So Serious?"
2019 Chevy Silverado RST 1500, 5.3L
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12-08-2014, 07:21 AM
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#19
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Senior Member
Join Date: Jun 2010
Location: Central, Pennsylvania
Trailer: Escape#5 2022 E19
Posts: 26,268
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There is always a qualified 501(c)3 charitable donation, you get a tax deduction using tax free income, sort of like a double whammy.
__________________
Jim
Sometime life gets in the way of living.......
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12-08-2014, 08:27 AM
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#20
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Site Team
Join Date: Nov 2008
Location: Portland, Oregon
Trailer: 2014 Escape 5.0 TA
Posts: 11,074
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I love money that falls from the sky (or unexpected and I forgot about it). I'm close to retirement, don't know about you Robert. BUT, I'd use it to plan that trip of a life-time taken immediately after retirement. That's when you should have the best health you'll have... don't delay is what I'm trying to say. With this kind of cash, I could spend months traveling the US/Canada and maybe that camping trip to Alaska. It would take some planning, but that's half the fun!
__________________
Donna D.
Ten Forward
2014 Escape 5.0TA
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