Forgotten money rules!

You poor bastard... What's your paypal? Phone Post 3.0

MegaCholo2000 - Not sure how to read thread title. Phone Post 3.0
I meant it like, "Forgotten money rocks!" Or "Forgotten money is awesome!"
Not like, "These are the rules for forgotten money."
Didn't even think of the duality of the word until you pointed it out. VU for grammar nazi excellence. Phone Post 3.0

Assuming there is no penalty for doing so, I'd sell the stock and invest that money into a mutual fund.  That would be a safer play instead of having all that money riding on the success of one company.

But I would stay in the program.  You are buying their stock at $0.90 on the dollar.  That's a good deal, and you're already programmed to not "see" the money that's being invested.   However, I would get in the habit of watching the account so you know how it's performing.  I have no idea what type of stock it is, but it would be smart to learn its trends so when you do sell you are doing so at max profit.

mrichter -
BKViper -


 



When I started my current job, they told me about an employee stock purchase plan they offered.


You have money automatically withdrawn from each paycheck, which they put in a holding account. Then at the end of each quarter, they calculate the average stock price over the past 3 months, and take the money and purchase shares at 90% of that average price.


Seemed like a good deal, so I signed up.


Well, I have direct deposit, so I never get a paycheck or pay stub, and basically over the years I forgot all about it!


That was until today, when they sent out a letter with some information updates about the plan.


Realizing I had been buying stock all this time, I logged into the website they have to see what I had in my account.


At today's closing price, if I sold the stocks today I would have just over $35K!


Woo Hoo!


 


Now the tough decision of whether I should just go back to ignoring it and let it continue to grow for something down the line, or whether I should cash out some of it and splurge on something.


 


Just FYI, this has never been part of my retirement savings or anything like that. I have about $400K between a couple different retirement plans, and I invest the maximum amount into my current plan.


I also have no debt. I don't own any credit cards, my cars are paid off, as is my house. Only bills are utilities, food, and gas in the cars. All my current monthly expenses are roughly 30% of my take home pay.


 


Might be time to pick up that Jaguar F-Type I've been dreaming about. I've got about $45K in liquid assets right now, and the car would be around $70K out the door. So if I cashed out all the stocks, I'd be able to pay cash for it and still have $10K cash on hand in case of an emergencies in the next couple months, as I build my savings back up. And I would keep buying the stocks going forward. 


 


What would the fiscally savvy OG do with a sudden windfall, given my current expenses?
I don't think it's a good idea to spend it. Go back to ignoring it would be my advice. A little comfort in the back of your mind knowing it's there though. Phone Post 3.0
Most likely cashing out you are going to pay a huge amount in taxes. Find a way to be shielded from the tax man than do what you want with the money. Phone Post 3.0

have you looked at a slightly used vantage, the F type is nice but if you are up near 70k let someone else take the hit on some of the really expensive AMG, Aston Martin, and other stuff and then you wont feel so bad when your F type is worth 70% left when you drive it off the lot. Since you had an M3 look at the new M5 but get s used on for 70ish. Or something stupid fun like an Ariel Atom.

I have 14 dollars to my name and my job doesn't start until the end of the month. Cash it out and give me 2K. Phone Post 3.0

BKViper -
TFK_digthisbigcrux - Pics of your trophy wife? Phone Post 3.0
LOL, if I had a wife, I'd likely have thousands in credit card debt for dresses and shoes, living in a house too big for our needs, upside down on a 30 year mortgage, and leasing new cars every two years to keep up with the neighbors!
No wife and no kids equals financial freedom. Phone Post 3.0
OP, how old are you? Phone Post 3.0

Put a large down payment on an airplane, get your pilots license and go cool places on the weekends. You won't be able to get a sports car of an airplane with that kind of cash, but you can have a lot of cool experiences and airplanes don't depreciate in value nearly as much as cars. 

LiveWire -
BKViper -
TFK_digthisbigcrux - Pics of your trophy wife? Phone Post 3.0
LOL, if I had a wife, I'd likely have thousands in credit card debt for dresses and shoes, living in a house too big for our needs, upside down on a 30 year mortgage, and leasing new cars every two years to keep up with the neighbors!
No wife and no kids equals financial freedom. Phone Post 3.0
OP, how old are you? Phone Post 3.0
41 Phone Post 3.0

Thunderhorse -


Put a large down payment on an airplane, get your pilots license and go cool places on the weekends. You won't be able to get a sports car of an airplane with that kind of cash, but you can have a lot of cool experiences and airplanes don't depreciate in value nearly as much as cars. 

I hate flying. Phone Post 3.0

I know this kind of excitement When I went for lunch today I thought I had 5 bucks.... Actually had 6.25. Was able to super size. Oooo yeah Phone Post 3.0

BKViper - 
Thunderhorse -


Put a large down payment on an airplane, get your pilots license and go cool places on the weekends. You won't be able to get a sports car of an airplane with that kind of cash, but you can have a lot of cool experiences and airplanes don't depreciate in value nearly as much as cars. 

I hate flying. Phone Post 3.0


Well then you suck

BKViper -
Picky McSnobberson - I'd recommend sending money to me. I'll post pics of what I do with it. Phone Post 3.0
Does it involve your anus? Might be interdasting. Phone Post 3.0
I'm open to suggestions. Phone Post 3.0

You seem pretty well off and live below your means with a good retirement fund started.

I usually don't suggest this but in your situation I would sell 10-15k and take a baller vacation somewhere. Europe , Asia , south America. Phone Post 3.0

Do you see the stock options as a good investment? You're subject to a lot of risk having all that money in one stock. I also wouldn't spend it on a luxury car unless you're buying second hand. I mean, is that car really worth 70k? I bet you could get a much nicer second hand car or even just a sportier, better car to drive second hand. Spend 30-40k on a slick car if you really want, at the end of the day, you won't be any happier unless you literally worship the thing and it's that big a dream. Phone Post 3.0

Fucker, thats awesome.