What would you do if you inherited $130,000 when you were 19 years old?

[Soda]

Had lunch with a co-worker recently, and she disclosed that she inherited $130,000 (in a savings account) when she was 19 years old (grandparent passed away and left that amount to her and each of her siblings). This came up in a discussion about estate taxes, so it was quite relevant.

Think back to when you were 19 years old (or, if younger, imagine what your life could be like when you're 19). What would you do with this money? It seems like the kind of money that if invested properly could ensure your easy retirement without ever contributing anything else ever again. It also seems like the kind of money that'd buy you a nice car or make a significant down-payment on a home. You could also spend it on college tuition, or blow it on beer and video games.

So, seriously, what do you think you would do with it if you were 19? Feel free to also answer what you'd do with it at whatever age you are now, but I'm particularly curious to see if my co-worker handled the money in a method that is common among people that respond here, or if she handled it significantly worse / better.

EDIT: Imagine you're 19, at that time, with the knowledge you had as a 19 year old at that time.

 

[8byte]

I would have wasted every penny like an idiot, but might have gotten lucky and bought a house.

 

[TrueSloth]

Invest, travel, and spend time focusing on hobbies.

 

[spam musubi]

You could go to college and get out with not too much debt. Is this one of those "$100k is rich" threads? Depending on where you live in America, 130k really isn't that much. You definitely wouldn't be set for life.

 

[luther manhole]

i would've absolutely done some dumb shit like spend $50k on a car, buy a ton of music equipment, and then try to live off the rest until I ran out

 

[Deleted member 1476]

Right now or at that time?

At that time, but cryptocurrency (or stocks).

 

[Trice]

Help out my parents

In my country that sum is huge, I would be in for a comfortable life if I invest that properly.

 

[Illenium]

Probably save it. Likely. Use it for traveling every so often

 

[Soda]

You could go to college and get out with not too much debt. Is this one of those "$100k is rich" threads? Depending on where you live in America, 130k really isn't that much

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No, it's mostly because I think my co-worker handled it surprisingly well for a teenager, and I'm curious to see what others feel they'd do.

Me? I'd probably have invested most of it, but kept some to help cover cost of living while in college.

 

[Lothars]

I would have bought a house

 

[Rad Bandolar]

Buy a boat and move to Jacksonville.

 

[Bitanator]

Live out my Blank Check fantasy as much as I could

 

[Pilgrimzero]

I knew a guy who got a large-ish inheritance when he was about that old.

Blew it all on video games, cars, parties, etc

 

[RSTEIN]

I would donate it all to fighting climate change. Any other option is IMMORAL and you seriously need to reevaluate your life if you choose to spend it on anything else.

 

[Kurdel]

I would have wasted it all, of course.

 

[Massicot]

At the time I would have spent it like an idiot.

If I had my current sensibilities, I would probably keep like 10k to spend and save/invest the rest.

 

[MrNewVegas]

You could go to college and get out with not too much debt. Is this one of those "$100k is rich" threads? Depending on where you live in America, 130k really isn't that much. You definitely wouldn't be set for life.

Click to shrink...

100k saves at 19 is significantly different then a 100k salary while paying expenses. 100k is a fuck ton. That's a massive boost to start ones life.

I would have purchased a house with it as a down payment.

 

[Ziltoidia 9]

I imagine at the time, would have used it for college, a car, and might have moved out into apartment.

 

[Komo]

Had lunch with a co-worker recently, and she disclosed that she inherited $130,000 (in a savings account) when she was 19 years old (grandparent passed away and left that amount to her and her siblings). This came up in a discussion about estate taxes, so it was quite relevant.

Think back to when you were 19 years old (or, if younger, imagine what your life could be like when you're 19). What would you do with this money? It seems like the kind of money that if invested properly could ensure your easy retirement without ever contributing anything else ever again. It also seems like the kind of money that'd buy you a nice car or make a significant down-payment on a home. You could also spend it on college tuition, or blow it on beer and video games.

So, seriously, what do you think you would do with it if you were 19? Feel free to also answer what you'd do with it at whatever age you are now, but I'm particularly curious to see if my co-worker handled the money in a method that is common among people that respond here, or if she handled it significantly worse / better.

Click to shrink...

I'd probably invest it immediately into something that can get me a safety net so long term us bonds (5-20 years)/g7 investment, and use the rest for just living life, and or maybe school? I would not have bought a car nor a house as you'd literally not be able to get a job at that age to pay for mortgage when it comes around nor will it be any easy lol.

 

[spam musubi]

100k saves at 19 is significantly different then a 100k salary while paying expenses. 100k is a fuck ton. That's a massive boost to start ones life.

I would have purchased a house with it as a down payment.

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I mean, in Bay Area that much money would last you maybe a decade tops, probably less if you're not living frugally. You couldn't buy a house and it's not even a very solid chunk towards a down payment. It all depends on where you live.

 

[KHarvey16]

I'd pay for college and use what's left on some chicken tenders from Popeyes.

 

[BasilZero]

At 19?

I would have saved it for the future

Was kind in a situation like that though not 19 but more mid 20s (not anymore of course) since I used it to buy a home ;p

 

[Small Red Boy]

I was thinking what kind of person I was when I was 19, until I relize that... I am 19 lmao. Probably I'd buy a house and pay for University. And invest in something I guess

 

[xxracerxx]

When I was 19? Fuck, done some stupid shit but also would have put at least half into something smart. My parents were really great about teaching me about finances early on.

 

[Rapture]

Invest it all in BitCoin.

 

[Leonadar]

At 19? I probably would have blown it all on stupid shit.

 

[Mathieran]

I have no idea. Probably bought some stupid shit and blown it all by the time I got done with college.

with the wisdom I have now, I would invest it all in retirement.

 

[ZealousD]

$130,000 wouldn't have changed my plans that much. That's not "spend on frivolous stuff" money. That's "pay for college" money.

 

[WascallyWabbit]

Depends on if my parents knew about it, if they did they'd prob force me to use it smartly
If they didn't I'd prob fuck it up

 

[Deleted member 18407]

I would've made even more mistakes at that age than I already did.

 

[cecilpaladin32]

I started investing at 18, so I'd like to think I'd have handled it prudently.

 

[ReAxion]

woulda wasted it on college!

 

[Instro]

Probably would have kept a bit for myself and the rest would have paid for college and gone into investments.

 

[It’s Time To Go]

At the age of 19? Spent it all on crap.

 

[samwyse]

I would do nothing.

 

[noquarter]

Would have been a mix. Would have invested some, saved some in CDs, probably moved out and found a place with too high rent and spent it on school, games and smoking/drinking.

Was more skeptical of the stock market, so might not have put too much into it (this would have been 2000, so right around .com crash).

 

[Yasuke]

Been dead by the following week.

 

[Jarrod38]

Bought $130,000 worth of lottery tickets.

 

[capitalCORN]

Been dead by the following week.

Click to shrink...

Me too. I probably wouldn't shut up about it either.

 

[Syriel]

Invest that shit.

 

[darkazcura]

Probably would had paid into my college and realized years later that I should had thrown it into an index fund to use for retirement or a down payment. 40+ years of growth in an index fund with a starting point of 130k? You probably wouldn't have to put much of your own salary into a 401k if anything at all.

 

[Nexus2049]

I'm 19? 100% would have spent it all on video games and electronics.

 

[Thrill_house]

Buy a small, modest house for my mother and sister then go to college.

 

[Rhaknar]

wasted it like an idiot

 

[Prolepro]

Honestly I wouldve just saved it. I dont like to spend money and even when I was 19 was pretty frugal. Probably wouldve given some to my mom though.

 

[Tochtli79]

At the time I would've spent part of it on a vacation home and/or trips and saved a portion, maybe invest.

Now, I would probably save a bigger portion and also give some to my parents... and buy a smaller vacation house and take a simpler trip lol.

I've always been careful with money so I don't think teenage me would've spent it too irresponsibly.

 

[Deleted member 4367]

Buy a boat and move to Jacksonville.

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Well you don't need 130k to move to Jax and have a boat man. Just take a look at my cousin, he's broke, and he lives in Jax with a boat.

 

[meowdi gras]

19, huh? I would've bought a house with it to get away from my psychopathic older brother, with whom I still lived at home at that time.

 

[Baji Boxer]

Early retirement.

 

[sapien85]

You could go to college and get out with not too much debt. Is this one of those "$100k is rich" threads? Depending on where you live in America, 130k really isn't that much. You definitely wouldn't be set for life.

Click to shrink...

130k out of nowhere on top of your income is different than 130k in income that's mostly spent on expenses.