What would you do with 50k

[Coronita]

Nostra,

You're my hero.

Ok, ass kissing aside. Mind if you share what exactly your business does? I think you're in the tech sector, and if I recall you talk a lot about embedded stuff. Are you a consulting company or on the product side.

I'm just wanted to pick you mind a bit, namely because I'm trying to get started myself with a tech venture, and I'm trying really hard to resist the venture caps. Except things are starting to add up, and i really don't want to be digging into my own pockets deeply myself.

 

[img_assist|nid=5962|title=selfportrait|desc=|link=node|align=left|width=100|height=80]

—– Sour grapes for everyone!

[(former)FormerSanDiegan]

I didn’t have a good experience with SCORE. The dude basically told me it wouldn’t work and I would amount to nothing. He was old and jaded and I was young. He was wrong, I’ve come far.

Sounds like your experience with SCORE actually was effective. It motivated you to say to yourself that the old fuddy-duddy was wrong and you were right. You’ll show them. Sometimes “rejection” is all the motivation one needs.

As for the 50K. That depends. For some people, that is not even enough for their emergency fund. For others, it’s 3x too much. First: Take 6 months of your living expenses out of that 50K and put it in a high-yield savings account (“high” is a relative term), such as ING Direct or similar. If you already have an emergency fund, that’s great.
Then, put what’s left in a separate high-yiled savings account and based on what’s left start making decisions.

Are your retirement funds fully maxed out ? Have you contributed to a Roth IRA ? (too late for 2007). Do you have any outstanding bills? Pay them down in order of max interest rate *highest first). This is typically: Credit cards, unsecured lines of credit, car loans, student loans.

AFter that see what’s left ?

Oops: Do you have to pay taxes on the 50K ? If so take the taxes out and go back to the top of my response and start over.

After these things, how much is left ?

Whatever’s left is suitable for investment in stocks, gold, inverse funds, bonds, starting a business, touring the rainforest, etc.

[(former)FormerSanDiegan]

I didn’t have a good experience with SCORE. The dude basically told me it wouldn’t work and I would amount to nothing. He was old and jaded and I was young. He was wrong, I’ve come far.

Sounds like your experience with SCORE actually was effective. It motivated you to say to yourself that the old fuddy-duddy was wrong and you were right. You’ll show them. Sometimes “rejection” is all the motivation one needs.

As for the 50K. That depends. For some people, that is not even enough for their emergency fund. For others, it’s 3x too much. First: Take 6 months of your living expenses out of that 50K and put it in a high-yield savings account (“high” is a relative term), such as ING Direct or similar. If you already have an emergency fund, that’s great.
Then, put what’s left in a separate high-yiled savings account and based on what’s left start making decisions.

Are your retirement funds fully maxed out ? Have you contributed to a Roth IRA ? (too late for 2007). Do you have any outstanding bills? Pay them down in order of max interest rate *highest first). This is typically: Credit cards, unsecured lines of credit, car loans, student loans.

AFter that see what’s left ?

Oops: Do you have to pay taxes on the 50K ? If so take the taxes out and go back to the top of my response and start over.

After these things, how much is left ?

Whatever’s left is suitable for investment in stocks, gold, inverse funds, bonds, starting a business, touring the rainforest, etc.

[(former)FormerSanDiegan]

I didn’t have a good experience with SCORE. The dude basically told me it wouldn’t work and I would amount to nothing. He was old and jaded and I was young. He was wrong, I’ve come far.

Sounds like your experience with SCORE actually was effective. It motivated you to say to yourself that the old fuddy-duddy was wrong and you were right. You’ll show them. Sometimes “rejection” is all the motivation one needs.

As for the 50K. That depends. For some people, that is not even enough for their emergency fund. For others, it’s 3x too much. First: Take 6 months of your living expenses out of that 50K and put it in a high-yield savings account (“high” is a relative term), such as ING Direct or similar. If you already have an emergency fund, that’s great.
Then, put what’s left in a separate high-yiled savings account and based on what’s left start making decisions.

Are your retirement funds fully maxed out ? Have you contributed to a Roth IRA ? (too late for 2007). Do you have any outstanding bills? Pay them down in order of max interest rate *highest first). This is typically: Credit cards, unsecured lines of credit, car loans, student loans.

AFter that see what’s left ?

Oops: Do you have to pay taxes on the 50K ? If so take the taxes out and go back to the top of my response and start over.

After these things, how much is left ?

Whatever’s left is suitable for investment in stocks, gold, inverse funds, bonds, starting a business, touring the rainforest, etc.

[(former)FormerSanDiegan]

I didn’t have a good experience with SCORE. The dude basically told me it wouldn’t work and I would amount to nothing. He was old and jaded and I was young. He was wrong, I’ve come far.

Sounds like your experience with SCORE actually was effective. It motivated you to say to yourself that the old fuddy-duddy was wrong and you were right. You’ll show them. Sometimes “rejection” is all the motivation one needs.

As for the 50K. That depends. For some people, that is not even enough for their emergency fund. For others, it’s 3x too much. First: Take 6 months of your living expenses out of that 50K and put it in a high-yield savings account (“high” is a relative term), such as ING Direct or similar. If you already have an emergency fund, that’s great.
Then, put what’s left in a separate high-yiled savings account and based on what’s left start making decisions.

Are your retirement funds fully maxed out ? Have you contributed to a Roth IRA ? (too late for 2007). Do you have any outstanding bills? Pay them down in order of max interest rate *highest first). This is typically: Credit cards, unsecured lines of credit, car loans, student loans.

AFter that see what’s left ?

Oops: Do you have to pay taxes on the 50K ? If so take the taxes out and go back to the top of my response and start over.

After these things, how much is left ?

Whatever’s left is suitable for investment in stocks, gold, inverse funds, bonds, starting a business, touring the rainforest, etc.

[(former)FormerSanDiegan]

I didn’t have a good experience with SCORE. The dude basically told me it wouldn’t work and I would amount to nothing. He was old and jaded and I was young. He was wrong, I’ve come far.

Sounds like your experience with SCORE actually was effective. It motivated you to say to yourself that the old fuddy-duddy was wrong and you were right. You’ll show them. Sometimes “rejection” is all the motivation one needs.

As for the 50K. That depends. For some people, that is not even enough for their emergency fund. For others, it’s 3x too much. First: Take 6 months of your living expenses out of that 50K and put it in a high-yield savings account (“high” is a relative term), such as ING Direct or similar. If you already have an emergency fund, that’s great.
Then, put what’s left in a separate high-yiled savings account and based on what’s left start making decisions.

Are your retirement funds fully maxed out ? Have you contributed to a Roth IRA ? (too late for 2007). Do you have any outstanding bills? Pay them down in order of max interest rate *highest first). This is typically: Credit cards, unsecured lines of credit, car loans, student loans.

AFter that see what’s left ?

Oops: Do you have to pay taxes on the 50K ? If so take the taxes out and go back to the top of my response and start over.

After these things, how much is left ?

Whatever’s left is suitable for investment in stocks, gold, inverse funds, bonds, starting a business, touring the rainforest, etc.

[rubbieslippers]

Thanks for the info FSD AND all I’ll keep ALL THat in mind

[rubbieslippers]

Thanks for the info FSD AND all I’ll keep ALL THat in mind

[rubbieslippers]

Thanks for the info FSD AND all I’ll keep ALL THat in mind

[rubbieslippers]

Thanks for the info FSD AND all I’ll keep ALL THat in mind

[rubbieslippers]

Thanks for the info FSD AND all I’ll keep ALL THat in mind

[nostradamus]

Hi FLU,

Thanks! Sorry, I just saw your post.

I know what you mean about not wanting VC’s. Angel investors are much better! I quite easily raised $1M to start up a small company in 1998, but didn’t end up taking the money because the Japanese economy (where I was starting the company) took a downturn and I wanted to sit it out. I know of a company that has had multiple $25M rounds of investment cash from a single, super-wealthy Kuwaiti oil prince.

I’m my own consulting company and have been since y2k. I do ASIC deisgn, mostly for wireless. Last year I started a movie production company on the side.

[nostradamus]

Hi FLU,

Thanks! Sorry, I just saw your post.

I know what you mean about not wanting VC’s. Angel investors are much better! I quite easily raised $1M to start up a small company in 1998, but didn’t end up taking the money because the Japanese economy (where I was starting the company) took a downturn and I wanted to sit it out. I know of a company that has had multiple $25M rounds of investment cash from a single, super-wealthy Kuwaiti oil prince.

I’m my own consulting company and have been since y2k. I do ASIC deisgn, mostly for wireless. Last year I started a movie production company on the side.

[nostradamus]

Hi FLU,

Thanks! Sorry, I just saw your post.

I know what you mean about not wanting VC’s. Angel investors are much better! I quite easily raised $1M to start up a small company in 1998, but didn’t end up taking the money because the Japanese economy (where I was starting the company) took a downturn and I wanted to sit it out. I know of a company that has had multiple $25M rounds of investment cash from a single, super-wealthy Kuwaiti oil prince.

I’m my own consulting company and have been since y2k. I do ASIC deisgn, mostly for wireless. Last year I started a movie production company on the side.

[nostradamus]

Hi FLU,

Thanks! Sorry, I just saw your post.

I know what you mean about not wanting VC’s. Angel investors are much better! I quite easily raised $1M to start up a small company in 1998, but didn’t end up taking the money because the Japanese economy (where I was starting the company) took a downturn and I wanted to sit it out. I know of a company that has had multiple $25M rounds of investment cash from a single, super-wealthy Kuwaiti oil prince.

I’m my own consulting company and have been since y2k. I do ASIC deisgn, mostly for wireless. Last year I started a movie production company on the side.

[Author]

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