Thread: What to do with Powerball money?

Good point about the taxes though. Not many people realize that. With a 124k, I'd put about 60k away for my education, 20k in a cd just so I can't touch it(never know if I might do something stupid), then I'd invest the rest. I'd come out of college sitting pretty if the investments went well.

EDIT: Oh. After I finished college I would take enough of the money that I would've accrued and travel the world for a few months.

Originally Posted by Yanick

200k in NYC will barely cover the down payment and the various fees and closing costs. as well the "house" will have no front/backyard, half a garage, 1/3 of a driveway and will be attached on both sides.

True, but I don't think I'll end up in NYC. I was thinking I would use the $200k (or $124k as Rob pointed out) toward the down payment and first several mortgages. I don't think my first home will be anything fancy. Hopefully something that is comfortable and leasable/sellable after I outgrow it. Then again, I would probably hold off on the home owning thing, although it has been a dream of mine recently.