Hello /biz/ investing professionals...
At the beginning of the next month (9/1/16) I will be receiving a twenty thousand dollar bonus. I am told it will be closer to $14k after taxes when it actually hits my account. I planned on putting 2k in savings and spending another 2k on a decent rifle. So that leaves me with somewhere around 10,000 USD.
How should I invest, spend, save or otherwise use my $10,000 dollars?
Details about my finances:
I currently make around $60-90k a year. This is "guaranteed" for the next 4 years.
Current Assets (All paid off):
(1) 1999 Vehicle (runs well)
(1) 2008 Toyota Vehicle
(4) High end firearms
(8) Chickens
(2) Goats
All other miscellaneous shit I own in my house.
Liabilities:
-160k left on 30 yr mortgage
-22k left on John Deere Tractor loan
-18.5k left on truck loan
Thanks for your consideration.
>>1443031
Why do you have three cars?
You don't state your other assets such as cash, equities, or bonds. With the debts on the tractor and the truck, which I presume are for periods of less than 5 years, I'd keep the bonus money in an FDIC-insured bank account or an NCUA-insured credit union. It'll earn pretty crappy interest (you can get 1% if you open an on-line savings account with Goldman Sachs) but it'll be a nice sum to tide you over if your "guaranteed" salary somehow goes away.
For the debt you have, I'm guessing you're paying $2,000/month servicing it? I would recommend that a person in that situation have at least $30,000 - $50,000 in cash or very liquid assets to cover any sort of extended loss of income.
Stock markets are at or near all-time highs due to central bank interventions so buying into the stock markets is pretty likely to give you poor returns over the next seven or so years thus my recommendation of holding crappy cash. You may want to continue putting some money into equities through a 401K contribution, though, since cash is guaranteed to be a loser over a long period of time (10+ years).
Finally, do you really need to buy another firearm when you've already got four? Firearms do a reasonable job of keeping their value but they're not exactly liquid assets if you ever need to sell one.
>>1443031
you don't say interest rates on your liabilities. how can we give you advice on what to do with your new asset?
also, you don't have ANY cash asset? my house is only worth 100K or so and I still keep 10K in bank for emergency fund.
>>1443031
Save for emergency fund
Become a prepper
Buy used guns whenever they come at u cheap
>thinks vehicles are an asset
kek
>>1444026
i think he should try to pay off on either the tractor loan or the car loan. maybe throw 10-15K in bank for emergency fund.
>>1444026
Some can be. Op could start a niche delivery company, rent cars out etc.
Some "invest" in classic cars.
I've actually spent 1,000 cash and started buy/sell/trade late 70's to 80's chevy square bodies. I know buy and hoping for a sell isn't really an asset. But, it's as much or more a hobby thsn an investment.
>>1444026
how retarded are you?
sacrifice goats to kek for major gains
Get a scar 17
Put the rest in bank. To build up a liquid reserve.
Buy an NFL transferable machine gun.
14k will get you a nice uzi, 2 or 3 macs, a m16 or rdias, they only go up in value.