WSOP Windfall... What is a boy to do?!?!

[NicksDad1970]

The paying off debts makes a lot of sense. But depending on your situation I don't know that buying a condo or a house makes sense.

The housing market is dead right now. If you go buy a 125k condo way off the strip in Vegas there's nothing saying you will be able to sell it with ease for the same price 2 or 3 years from now. (You never know when you might need to sell)

Now if you did some research and found a decent duplex that's for sale and been occupied for a while you could buy one of those and keep the renters. There are also companies out there that will do everything involving the renters for a %.

I'm also one of those people that's had a house on the market for 9 months so I'm a little bitter towards the market right now.

Either way good luck and maybe a month from now you'll be asking us how you should invest your 2 million. [img]/images/graemlins/smile.gif[/img]

[El Diablo]

All,

Jurollo's AIM away message: "test driving some cars"

Awesome.

[Jurollo]

Haha el D. The cars/student loan payoff/gifts for parents are why I am down to $200k really quick. I am totally debt free, no student loans, no car loans, no credit debt. I have enough for my bankroll to last for a while and have no desire to start playing the live circuit. The idea of even making $1k/month on interest is pretty sweet to me as it could pay off a small mortgage. I am going to probably talk to a financial adviser tomorrow. Any more opinions would be awesome.

[gumpzilla]

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Haha el D. The cars/student loan payoff/gifts for parents are why I am down to $200k really quick.

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Have you already taken taxes into account, too?

[Jurollo]

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Haha el D. The cars/student loan payoff/gifts for parents are why I am down to $200k really quick.

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Have you already taken taxes into account, too?

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Yes. I dont want to get into specific details of it, but the way we worked out the deal ensured everyone the same amount post taxes, as Harrah's wouldnt get involved in facilitating the deal, hence I got a chunk from 1st place.

[XXXNoahXXX]

Did anything ever come of that parking lot idea?

I'd probably split the 200k between some standard savings and MMA type accounts as well as some higher risk/higher yield investments. I think its fine to even put your money into sort of a "holding pattern" of low/no risk investments while you familiarize yourself with the stock market.