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hmm i've narrowed it down to these options
- spend it
-save it
-invest it
-give it away
-some combination of the above

it took a lot of thought but i whittled it down to these. if you'd like to know exactly, you can give me the 40K and i'll let you know what i do with it.

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mikeowski

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Re: What would you do with 40,000 dollars?

Reply #9 on: October 31, 2012, 12:48:24 AM

I'd buy this awesome yamaha grand I've seen which costs roughly around 40k (27k €). A real beauty and could easily compete with the steinways and bosendorfers there.

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unholeee

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Re: What would you do with 40,000 dollars?

Reply #10 on: October 31, 2012, 07:15:59 AM

apparently pay tax, and squander it... every year.

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Bob

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Posts: 16368

Re: What would you do with 40,000 dollars?

Reply #11 on: October 31, 2012, 10:55:26 AM

I was thinking that -- The government's going to step in and take their cut. You don't really get $40,000.

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Favorite new teacher quote -- "You found the only possible wrong answer."

49410enrique

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Posts: 3538

Re: What would you do with 40,000 dollars?

Reply #12 on: October 31, 2012, 11:50:39 AM

Quote from: Bob on October 31, 2012, 10:55:26 AM

I was thinking that -- The government's going to step in and take their cut. You don't really get $40,000.

sorta lol. let's get boring.

let's say the 40K is a beneficiary payout for something like say a life insurance policy.

warning thread killer.....
Under IRC Section 101(a), the beneficiary of a properly structured life insurance policy will generally receive the death proceeds income and gift tax-free. However, where the so-called “unholy trinity” exists, policy proceeds are subject to gift taxation.

The “unholy trinity” exists when three different parties are designated as the owner, the insured, and the beneficiary of a life insurance policy. Should the insured person die under those circumstances, the policy proceeds are considered to be a gift from the owner to the beneficiary.

okay revive time

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outin

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Posts: 8211

Re: What would you do with 40,000 dollars?

Reply #13 on: November 01, 2012, 06:15:55 PM

Quote from: 49410enrique on October 31, 2012, 11:50:39 AM

okay revive time

Shame on you!

About 30000 euros? I would buy my little Estonia grand and the rest I would probably spend as usual (on vet bills, pizza, books and music).

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lloyd_cdb

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Posts: 539

Re: What would you do with 40,000 dollars?

Reply #14 on: November 01, 2012, 06:45:41 PM

A few possibilities:

A) One long night at the strip club.
B) It's going on black.
C) Pay my bills, give the rest to charity.

I'm leaning towards B.

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I've been trying to give myself a healthy reminder: https://internetsarcasm.com/

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