It doesn't have to be in New York. Since the amount is unknown, but enough to buy a super nice car, let's assume 50k. 50k doesn't buy a parking space in NY, however it can buy acerage out of state, and possibly up state. He just needs to contact some brokers to help him, or do the leg work himself. 50k spent on 2 or 3 acres about 30 mil from a rapidly growing area w/o development restrictions could be 500k in 10 years. Easy. Heck, I installed some stone in a house where the owners paid 24k for a piece of land that they sold 5 years later for 3mil! That's more like a land lotto, but still, it happens.

 

well lets see first im only 18 so i dont really need to but a house right now lol and second the evo is nice but its not my only choice my other is a m3 which i would love to get

 

imo, your attorney should structure your settlement so you can't blow it frivolously....but you're an adult so that won't happen. cars are a worthless investment. unless you plan on being involved in several accidents such that "windfall amounts of money" keep coming, buying an expensive car from an accident settlement is absurd. imo, invest the money in something that will return more money not in something that will take your money. a car depreciates and eventually becomes worthless, property doesn't.

buy property, and if you want an expensive car, take out an equity loan against the property to buy the car you want, then pay off the loan when you sell the property and the "car of your dreams" costs you nothing because of the equity you've built. then buy more property. it shouldn't take too long to build about 30k in equity on the right property.

 

One day you will be 30 (like it or not). Would you like to be 30 with a 230k mi M3 worth 3g's or 30 w/1.3mil in the bank driving your 2nd or 3rd M3 or possibly considering your first S class Benz?

I know what you will do, don't worry. I'm pretty sure it's what I would have done too in your position. So, when you are 30, think back to this moment, this fork in the road of your life and consider what could have been.

 

please listen to us as your friends, invest the money. (of course keep some of it to just waste) You have a nice car now, and dreams are usually better when they're dreams; sometimes reality isnt all it's cracked up to be. invest the money in property or whatever, just invest it. maybe in 10 years you could be driving a Ferrari, or a McLaren, or you could be driving an old beat up M3, like scionofPCFl says. its your pick, but please listen to some of the "older" members who have wasted away many dollars on "dream cars" and now wish they bought a house. hey, maybe take your family to Hawai'i! that would be cool. well, good luck with your choice. I just hope you dont end up like one of the people who win $50 million in the lottery and are broke in two years.

 

well everyone i thought all about this and im going to keep my tc and with the money i get make it even better and invest in sum real estate i mean yea im 18 so i figure i start now making sum more money and use a lil to make my tc even nicer thanks for the advice guys

 

good choice! I know you want the M3 (I do too!) but in the long run, you'll be much happier (and richer!) good luck!

 

Just think you put the money into a house and insted of selling you buy another and rent out the first. Just think of the money you can start makeing in a few years.

CL65 AMG anyone?

 

good luck whatever you do...

i don't see a reason to not have some fun with the large sum of money, but most of it should be saved or invested. however large amount that is, i'm sure isn't much at all when spreading it over the years.

 

Yeah. I was just talking smack when I mentioned property vaules in New York.

If you are planning on living on your own (or already do) then defnitely buy a house or condo or something. I'm 29 and still renting, and now that I'm interested in property, I find that I would have tripled my money had I bought a house when I was 18. On top of that, the property-explosion that happened in Florida over the last couple of years have screwed over long-time residents or those of us born here, and homes here are no longer affordable in proportion to cost of living. It's crazy.

Just don't buy anything in Florida. Stay away. lol.