Lump sum turnkey Puns

About 3 months ago I got an accident at work where the tip of my ring finger got amputated getting caught in the seam of a delivery truck. I received a lump sum of a little over 12.5k. Nothing too crazy. My mom now expects me to give her and my sister 1k each.. Really for no reason. I tell her that this little bit of money is literally a compensation for me for literally losing a permanent piece of my body. I've had the money for 3 days now and everytime we talk on the phone she sounds sad and mopey like something is wrong. I don't owe them anything an I feel like it's so selfish that they think they're entitled to this little bit of money.. And i an asshole for considering saying no to her?

Please let me know which works out cheapest for BTC amounts over 10,000 USD

• Ndax - better rates for large orders

• Newton - cheapest in general at ~0.6%

• Netcoins - A bit more expensive

• VirgoCX - Over-the-counter service maybe the cheapest option by far, but it has a minimum of $30,000, which means it's out.

• Shakepay - cheap as well, but only for smaller orders less than $500

Do any of these platforms have withdrawal fees for crypto?

Hey guys,

I invested a lump sum of 30k into Core MSCI World right before the current stock market crash. The index fund since then has been down almost 6%.

Should I be worried and implement some kind of stop-loss strategy or just ignore the crash?

My investing horizon is 10-15 years.

Thanks!

So I’ve just opened my first global index tracker with the aim of putting 20k into the Vanguard Global All Cap (Acc) , then another 20k before the end of this year - then set and forget for 20 years.

I’m a newbie investor.

However, all the stories about rising inflation, an overvalued market and high P/E etc is making me nervous I’ll be putting a large amount in the market before a drop.

Am I worrying too much? If I’m investing over 20 years would it even matter that much if I did invest right before a big market decline, hypothetically?

Would really appreciate some opinions!

I've read some posts na mas okay daw ang lump sum saving sa MP2 compared to monthly saving. I wanna know why? Walang clear explanation, and I really wanna know what's the best option to have a higher return rate.

Also when's the best time to invest if ever lump sum yung gagawin. Anong difference if January or later months pa yung paginvest?

Thank you sooooo much.

PS. Calculations will help, pero please bear with me. Pwede bang explanation for dummies muna? Lol.

My mom has some money she would like to invest in the market and i suggested that she invested it in VOO. Do you guys recommend DCA or lump sum? Thank you

I still owe just under $13,000 in student loan debt. I recently made about $60,000 profit on an investment and the money is currently sitting in a savings account.

Do I completely pay off the student loan debt or do I keep making the minimum monthly payment for the next 8(ish) years? The student loans have been in an interest-freezing period for the last 2 years due to Covid (Canadian) gov policies. This could be extended another year, but eventually interest will resume.

Thanks 😊

I have extra money and would like to pay my mortgage faster. Currently paying $176/week for my mortgage. Edit: 10% increase goes towards principal and interest while monthly lump sum goes toward principal alone

Most arguments for lump sum center around coming upon a windfall but what are thoughts when it's a $6,000 contribution in an IRA or Roth IRA? Thanks for your suggestions and thoughts!

As the title goes. Historically speaking, I did not stick perfectly to schedule and got very emotional during market downturns (e.g. spring 2020). A bit scared that if I invest it lump sum and the market will keep dropping substantially though. Also, is it worth it to diversify in crypto ETF. Right now I am 100% XGRO.

Any tips or pointers so very welcome. Appreciate all of your help in advance.

- person in her 30s

I have around 4L just sitting around in my bank account (stupid I know). So I wanted to do the safe choice of investing in Mutual funds. Mostly start SIP on index and Debt funds.

On looking at the market, lot of equity stock has soared high after the Covid dip in 2020. I was looking to invest in UTI Nifty 50 Index fund. But Reliance and Hdfc are so highly valued. And If I invest my money on lump sum and the market corrects back to pre Covid levels, I will be losing a lot of money here right?

So if I am correct, what should someone do with their money. Park it in Liquid funds? Saw a few recommendations in the sidebar. I am assuming this beats the FD rate and whenever they feel confident they can withdraw and put it in the MFs they want.

Afternoon all,

I've have about 100k for the purpose of investing with an additional 2k-3k a month to add towards that initial figure. This is separate from retirement accounts. I've read that investing all 100k at one time can incur undue risk because it defeats the intent of dollar averaging; however, if I break into chunks throughout the year it also loses time spent in the market. The earliest I would look at touching this money would be 5 years, but more likely it'll be greater than 10 or more. What strategies would you all suggest? Understood there are many different perspectives.

I always see posts with people concerned about “not having enough” for the rest of their life. If that money stays invested, and less then 5% of it is used annually, it will only increase, right?

So unlike usual, I have some extra cash right now that we don’t need. I’m considering just maxing out my Roth right now, rather than DCA’ing it through the year. I see a lot of people do it, and it might help me out on a monthly basis throughout the rest of the year.

That’s not too crazy is it?

I have my 2021 bonus coming my way this week, and normally I would simply put it all in the market immediately (100% XEQT). But given the recent dip, I was thinking that in this case, spreading out my buys through the next 6 months might be prudent. Thoughts?

I would say that my risk tolerance is high with a high income/expense ratio as well as a long investment horizon over ten years.

I made the mistake of looking at my compensation web application which showed me what my lump sum payout would be if I quit. After I turn 50 it's locked in until I retire but if I quit today it'd be a payout of around 650K. I wish I never looked....now I'm tempted to walk instead of working the next 10 years in order to get the pension. Can anybody talk some sense into me...?

My husband is disabled and we get some benefits. About four years ago we had to have serious structural work done at home, not something the house insurance covered. We’d no choice but to use credit cards and a credit union loan. CC balance is just too much to deal with as I can’t make any inroads to paying it off. Interest on cards and credit union is about £300 per month. On top of my husband’s chronic illnesses this gives me sleepless nights.

I know if I’ve more than around £100 per week ‘income’ I’d lose my carer’s allowance, and income would affect other benefits. But, if I got a lump sum out of my pension (can do as I’m 55) and used it on the same day to pay off our debt, would that affect our benefits?

Lump sum would be taxable I know so I’m wondering if that triggers HMRC. I’m not trying to avoid tax or scam benefits, just trying to see if I am able to do this without causing even more financial problems.

Thanks all.

The common wisdom I’ve seen here is that investing extra cash is better than using it to pay down your mortgage. However, my math is coming out a bit different:

• Current mortgage payment: $1200
• Mortgage payment if I put $70k lump sum toward the principal and recast my mortgage ($400 fee): $750
• Extra cash annually: $450 X 12 = $5400
• Annual return on $70k invested in house = $5.4k/70k = 7.7%

A 7.7% non-taxable guaranteed return seems pretty good right? We already max out tax advantaged retirement accounts so investing the 70k in the market would be subject to long term capital gains.

Am I missing anything in my calculations? (Note that I am purposefully not considering the recast fee as this is a one-off). Thanks!

I have 150k on the sidelines right now. Should I buy it all now with the recent dip or DCA over the next few days/weeks/months. One caveat is I don't have free trades so each buy costs 10$.

Is it true that, if you pay into the system for more than ten years, the lump sum payout is no longer an option? I'm kind of just at the ten yr. mark and wondering what to do with my future at this point.

I have carried OSAP loan for around 8 years and now have the means to pay it off. I have paid off half of the $30k loan and am planning to kill the rest with a lump sum. I know that investing the money may result in gains that out pace the monthly payments, but I really just want it gone. I don’t want the loan to stand in the way of qualifying for a mortgage.

Is there any reason why paying it off is a bad idea ?

I have an aunt who passed away in 2008 at age 50, and who left my siblings and me a decent amount in retirement accounts. She was weird with her money, and the retirement accounts were split between 3 banks. Two of those 3 banks did things just fine, and we've been receiving required minimum distribution checks from them, which is what we wanted.

The third, this bank, had some hiccups. My aunt worked for them before she passed away, and somehow my siblings and I were all classified incorrectly as former employees. I would have been a child when I began "working" there, as I believe I was entered with her data.

One of my siblings actually put in the leg work to call and attempt to resolve matters this year; she explained their error, was classified correctly and told them to look into our accounts as well, since all of us were misrepresented. She gave applicable information n myself and my other sibling, but we were never contacted by the bank to verify any of it.

Today, we checked the retirement accounts we'd inherited (as we were expecting our minimum distribution checks to come through), and saw that the accounts had been drained as of December 31st, 2021, and we'd been sent lump sum distribution checks, minus ~20% in taxes. (~92K in the account, receiving ~73K). The checks have all arrived safe and sound, so there's no concern that we've been robbed.

We're trying to figure out why this happened, what additional taxes we can expect to pay, and whether or not this is a loss for us that we need to fight. (We would have probably preferred mandatory minimum distributions as opposed to the lump sum), but we're trying to figure out what the effort to reward ratio will be before we invest any resources into fighting this.

To summarize the information I'm seeking:

1. Why did the bank randomly give us a lump sum distribution instead of a minimum distribution? We had not previously taken any money out. Trying to determine if we screwed something up or the bank did.

2. We paid ~20% in taxes already on the amount being sent. Should we expect additional taxes/a 10% early withdrawing penalty as well since this is a retirement account and none of us are even close to age 60?

3. Is this worth pushing back against the bank? Obviously with stocks, nothing is set in stone, so there's a chance that the amount in the account could take a nose dive if it was parked there for the period of minimum distribution, but my assumption is that t

I start as an L4 AM in March and I'm anxious to get this move over with. When did they give you your funds? I've been told two different things from their website and nobody has replied to my email. On one hand it says 60 days before your start date is when you'll receive your money, but one of their PDF files says 30 days. I found a house I really want but this is kind of throwing me off because I don't know when to expect to have my funds 😬

Hi! I've come into a fairly large lump sum of money. My goal was to use as a down payment for a house but that's a few years out. I don't have the time/capacity to deal with home repairs, needs or even house hunting right now as a newly single parent with my own business in its infancy (I am the only employee).

The business doesn't need any funds invested in it right now. It's holding its own just fine.

I hate to think of it the money sitting in a regular savings account for a year or more when it could be earning me a bit more. But I have no idea what to do with it. High yield savings? Some other investment? I have no idea so thought I would check here for some suggestions.

Thanks in advance!

I can’t tell if this would be buying the dip or what someone please let me know what to doooo

Using very round and rough numbers, if I save $2,000,000 and retire, the goal would be to make 5% interest per year on that ($100k) and then withdraw $100K each year, maintaining an ongoing balance of $2,000,000. What happens when you then die? I assume that $2,000,000 can go to your children? But how can they use it? Does it have to go into a retirement account for them?

Savings rates are terrible at the moment, lucky to get more than 1% So any other alternative? Any instrument out there that will yield 2-4%

Which is better at the current market? If I dollar cost averaging I will do it over 3 years, if I lump-sum investment will put around $400k into index funds in one go

Specifically when it comes to jobs that won’t be ready for 6-18 months. I find GCs still expecting us to give them a number when material prices are continuing to rise sporadically. Not to mention getting the material by the time a contract is signed is not guaranteed.

Hi,

I’m 23 so still young and started investing over the last 2 years, when I started I did silly penny stock gambles but now want to be safer and put my focus into the $VUSA S&P 500 tracker, I’ve put £3000 in a couple of months back and then today I invested another £1000

I was wondering would it be better for me to just drip feed instead? Maybe automatically invest £25 every Friday or something like that? I’m not sure if this would make any difference

Obviously being 23 I want to be a long term investor in the VUSA and hope I won’t need to take any of it out in the future

Any advice on whether doing big lump sums when I can or just drip feeding would be appreciated, as well as any views on only investing into the VUSA ETF.

What the title says. TurboTax is not clear on how it will be paid out. The advance payments reported have been deducted from my return (which gutted my total amount by $6600). The total I am supposed to get is $13,200 (4 kids).

Happy Holidays and Happy Investing!

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With POTUS’ official announcement that student loan payments and interest are indeed going to be starting up early next year, I know a lot of people here have saved up a bunch to do a big lump sum payment. This is a reminder that if you currently have accumulated interest on your loans, you might want to pay some of that lump sum THIS year (I.e. before 31 DEC 21).

Most people get a tax deduction for payments on student loan interest up to $2500/year. Meaning, if you’re in the 14% tax bracket, you’d get .14 x 2500 = $350 for free by pulling the trigger on some of your lump sum payment in 2021.

Sorry if this is a dumb question, I graduated in Dec. 2019 and haven’t had to make a payment yet.

I currently work for a state government and so will apply for PLSF. However, an interesting perk of the position is that next year I’ll be eligible for an up to $5,000 credit allotted to paying down the loan. I wish is was cost recovery to what I’ll have paid but it has to be applied to the loan.

So what would that do to the overall formula of the payment per month under the PLSF program?

I’m a single person and can’t afford to buy an apartment, let alone a house. I’ve given up and looking to invest my savings I’ve worked hard for. I have about $150,000 all up.*

I feel nervous about investing all the money but it does seem like a waste letting it sit in my bank account. I come from a really poor family background and gambling issues so I feel uncomfortable with the idea of investing.

Any advice for a beginner like me regarding platform, amount of money to invest, and how much to keep as emergency?

I’m financially illiterate but I’ve been good with savings…

Would appreciate any tips, thanks!

*I am financially supporting my parents as well.

For debt where there is a fixed monthly payment regardless of the balance of the loan is it better to make extra monthly payments vs a yearly lump sum payment to try to pay it off sooner?

More specifically, I have a credit union loan with a current balance of $22,000 and I expect to get a $4,000 bonus. Is it better to pay that bonus as a lump sum to the balance directly or should I instead split the bonus over 12 months and pay it as an additional monthly payment?

I am thinking of investing a certain amount of money every month in equity and hold the stocks for a tenure of 2 -3 years. Is it a good idea to invest monthly in a stock or should I just collect a certain amount of capital and invest lump sum and hold ?

Let's say you have access to a large lump sum of money (an inheritance, a modest lottery win, access to 401K, etc.), what is the most effective/safest or best method to invest into a crypto to generate $4000 USD/mo in passive income? What amount lump sum would be enough to realistically make these returns?

Do you choose the best staking coin and just stake it all? Do you loan your crypto out on a website? Do you do a combination of things with different coins?

I choose $4000 USD/mo because that seems like enough to live a moderate life as a single person in a non-major city in the US (think midwest or some areas of the south).

My wife and I just bought a house in August. Our mortgage is 5-year fixed at 1.99%. We currently have about $25,000 to invest or do a lump sum payment on our mortgage. I am trying to decide whether to invest it into ETFs/index funds that track the S&P 500 or if we should dump it all into paying off our mortgage earlier. We already contribute $500/month to an RRSP as well as my pension and have a healthy emergency fund. I have been flip-flopping a lot with what to do with the money. On one hand, being debt-free quicker is very appealing but with our mortgage rate being so low I feel very confident that we can get a decent ROI on the money if we were to invest it.

I would love to hear your thoughts on our situation. Thanks in advance!

I have $97k total in federal loans split up into two loans: one at $48k direct unsub and the other $49k direct PLUS. I may have enough to almost pay off one in a lump sum by April. Should I attack this by paying off one loan first for split the lump sum payment into two and attack both? Would it be worth it to consolidate as well?

Thanks in advance!

Hey guys, I’d like some guidance about how best to pay into my Nutmeg account.

I have been a WealthSimple user for a couple of years now and really liked their service, I paid in regularly and spread my payments over the ups and downs, not particularly by design, but I saw good returns from them.

Now they have stopped trading, I have transferred my account over to Nutmeg, as well as taken a lifetime ISA with them which I capped out because I could. But, I also have another lump of money I’d like to save but I worry putting all my money in at once, alongside the ISA transfer.

My concern is that transferring all my money at once may be more risky. Is that right?

Should I throw it all in at once? If so, should I wait for the right time to do so? When is that?

Should I put money in different places (premium bonds?) and slowly add to nutmeg - this is annoying, because I withdrew my premium bonds to add to my WealthSimple just before they shut up shop…

Thanks!