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Help me think this through logically. IF you wanna be a b****, thats cool too, I'll just weed out the b*tchiness.

Posted by Anonymous   + Show Post

 My husband and I are going to be receiving a settlement. We have NO idea about the amount yet, but we are thinking it out long before we get it so that we can have the plan, and do it.

It could be anywhere from 30k to 300k. We really have no idea. So we are PLANNING the 30k and if it is more, we will put much of that into some form of savings until we purchase a home so that we will not have a mortgage payment.

My question: What is the best (in your opinion) plan on savings. Regular Savings is great for smaller amounts, but we are not wanting to waste the time with such a low interest on a larger amount.

Any advice would work too! :D

Posted by Anonymous on Nov. 26, 2012 at 10:50 PM
Replies (61-66):
Bri060492
by Ruby Member on Nov. 27, 2012 at 2:08 PM

Cd's? do they still even do those.


Anonymous
by Anonymous 1 - Original Poster on Nov. 27, 2012 at 4:35 PM

 His injury is work related and very different. We have a lawyer with the case too. So the settlement will REALLY be more, but that is what he  (the Worker's Comp lawyer) has figured the lowball amount to be. There really is no way to tell except from past experience with that insurance company with very similar injury.

Quoting Cassie2115:

Not to jack your post, but how do you know what your settlement will be? We were in an accident in August - my Dh and 2 dd and I - we've all seen the chiropractor since the end of August, but my girls were done within a couple weeks. Right away the insurance company said they'd pay us a settlement when treatment was done, but never said how much or anything like that, just that my husband and I would receive settlements. It would be really nice to have an idea of how much it will be, will it be $500 or $20k? Will they lump the two together and pay less, or do them separate? I was hoping at least one of us would be done with treatment by now so we could use some for Christmas shopping but I don't see that happening.

 

Cassie2115
by Gold Member on Nov. 27, 2012 at 4:37 PM

I just wish I knew what to expect.

Quoting Anonymous:

 His injury is work related and very different. We have a lawyer with the case too. So the settlement will REALLY be more, but that is what he  (the Worker's Comp lawyer) has figured the lowball amount to be. There really is no way to tell except from past experience with that insurance company with very similar injury.

Quoting Cassie2115:

Not to jack your post, but how do you know what your settlement will be? We were in an accident in August - my Dh and 2 dd and I - we've all seen the chiropractor since the end of August, but my girls were done within a couple weeks. Right away the insurance company said they'd pay us a settlement when treatment was done, but never said how much or anything like that, just that my husband and I would receive settlements. It would be really nice to have an idea of how much it will be, will it be $500 or $20k? Will they lump the two together and pay less, or do them separate? I was hoping at least one of us would be done with treatment by now so we could use some for Christmas shopping but I don't see that happening.

 


Anonymous
by Anonymous 1 - Original Poster on Nov. 27, 2012 at 4:37 PM

 My husband is going to school. He is getting a very good degree. We can pay for it with his earned income so we don't want to use that and then end up spending more from his checks on regular everyday things. We also want to move out of state in 4-5 years so we don't want to purchase a home just yet.

Quoting TexanMomOf6:

Why not invest it in your and DH further education? If doesn't have to be a degree, it could be business classes, investment classes, or some technical education. Maybe research some franchises in order to go into business for yourself?  Having no mortgage would be awesome, but having an education or starting a business could have longer term benefits.

 

Emilytrademark
by on Nov. 27, 2012 at 4:37 PM

 Real estate is a wise investment but for that sum of money, you may want to hire a financial adviser to instruct you where to invest in this market.

bellawomen
by Summer on Nov. 27, 2012 at 5:00 PM

I would definitely talk to your bank, but credit unions are generally going to be your better money makers.  They also are not there to make a profit like banks.  I would never pay someone to tell me how to save my money.  I would pay someone to help me manage accounts after I invested, but not to give me advice on how to invest.

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