How would you spend approximately $140,000 in loose change?

Question

I need to know, because I'll soon have that amount of money from the sale of a property I own with my brother and sister (we'll each receive that amount, it will go for approximately $420,000 we expect). It's a house way out in the country, in the middle of nowhere, that's why we won't get much for it. Unfortunately, $140 thou isn't enough for a property of my own, even a flat or unit. The average house in suburban Australia costs about a million dollars, no joke, no exaggeration, so don't migrate here unless you're at least a millionaire (that's how it is here, everyone is filthy rich). I've been thinking of buying a car, a flash new one. Any other suggestions? :D

WindAtMyBack · Accepted Answer

Invest it in something safe. That's what pretty much any financial advisor would tell you. Buying another house might be considered safe, but that has risks also - it would depend on your local conditions.

Safe conservative mutual funds are a good way to go, and also pretty essay to pick and get into if you don't know much about them. You do need to do some research, but it's much easier than many other investments.

Don't put it in one investment. Spread it out a little and keep some easily available cash on hand in case you need it.

AviatorTom · Accepted Answer

That's a lot of money "in loose change". I'd have to have a massive tractor trailer to carry it around. Maybe the best thing to do would be to just drive the truck to some random downtown intersection, open the doors and let all that loose change fall out. I'm sure people will gladly pick it all up.

plredhead · Accepted Answer

Wow! Where I live that would buy a small house. I wouldn't spend it on a car unless you really need one. They depreciate in value very fast. Why not put the money in a bank while you think about it. And don't tell everyone about your new found money or you will have "new friends" coming out of the woodwork.

midnightmoon05 · Accepted Answer

Are you renting? how much is your rent? Or you are debt free and have a paid off flat?
I would buy a flat with a large down payment and have low monthly payment on a flat. Soon it will be paid off… no more rent.

Massageman · Answer

These are hints for you -
Invest it since you said you really don't need it right now.

Possibly open a small business selling a service/product everyone needs repeatedly - (barber/beauty shop) for example.

If you have a particular talent- art, stitching, etc., use the money to buy supplies and equipment to create (products for) an Etsy shop and sell your wares.

As for me, I'd buy a new car which new really need, buy a couple of things our church needs, and invest the rest.

Th3ft · Answer

I mean if you want to come buy a house here I’ll house sit for you? 😂😂😂

Phoenix98 · Answer

Your housing prices are fucking ridiculous /= geez.

If I came into that kind of money I'd do the smart thing and would buy some duplexes or small houses that are in decent shape and I would fix them up and then rent them out to people. Ensuring that I have a continuous stream of income coming in.

888theGreat · Answer

Buy silver , If it does what it did in 1970's with inflation today , it will be $350 an ounce to $400 an ounce and that is awesome for $20 an ounce investment. If you invested $20,000 it would get you $350,000 . Buy some one ounce Roos there in Australia.

ChrisMaster69 · Answer

I have a house that’s due releasing soon, I do favourable rates. $140k would go as deposit on a house. Then rent it out.

HighValue · Answer

So you have about $95,000 in US dollars. Just save it for a nice down payment on a house in the future so you would have low mortgage payments.

driven159 · Answer

put the money away and wait for things to go into a recession then you can buy a place and it will come soon buying a car is not the time to buy one yet let you brother and sister blow theirs don't be like them save it you will thank me for that

The_Shadow_Dweller · Answer

Study the stock market and make sure to make sure that your money now earns for you. And look for long term not short term.

erandal · Answer

Pay of fmy mortgage, do some decorating. That'll be about it.

msc545 · Answer

this depends a lot on what you need and whether or not you have any bills that you absolutely should pay off at this point. Only you know about these things.

FunkyMonkee · Answer

Could you loan me about $25,000? I'm trying NOT to lose my house!!

Wubs3000 · Answer

Well you don't have a house yet so use it as a down payment right? and invest some of it

Anonymous · Answer

If there's really nothing you need right now, invest it wisely, you'll need it later. And if you don't, maybe your kids will.

nawtee_me · Answer

It is a start though. smart investing at your age could get you that house sooner than you think. Bad investing could lose it all too.

NathanDavis · Answer

I would not spend it... I'd rather save it

Guy13 · Answer

Income producing real asset. Rental property

exitseven · Answer

Can't you get a mortgage on a piece of property?

Reaper1985 · Answer

invest to for the future.

truthisthree · Answer

buy an apartment  nice and cheap

WhiteBoyChill · Answer

I’d put it in stocks and have it work for me

motownplayer2000 · Answer

Pay off debt, invest

Kelly6 · Answer

Buy house

bananathunder · Answer

hookers and cocaine

How would you spend approximately $140,000 in loose change?

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