# Retirement professionals



## 1980z28 (Mar 4, 2010)

what would you do with

extra cash


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## 1980z28 (Mar 4, 2010)

1980z28 said:


> what would you do with
> 
> extra cash



Please be over 50 years old as i may not under stand you


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## naysmitj (Sep 16, 2014)

How long is a piece of string?


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## agent99 (Sep 11, 2013)

Perhaps rather - What is "Extra"? 

If it is surplus to your requirements, you could give it away to the poor. If to a charity, you could get some of it back as a tax refund. This way you get a different kind of return.

If you are thrifty like me, then maybe spend it on something you otherwise wouldn't.

If you mean that cash is building up in your portfolio because you can't think of what to invest it in, that's a different question. The cash is not "extra" it just needs moving to a more appropriate place. I have had that problem and have gradually moved some to dividend stocks, split preferreds, convertible debentures that yield in 4-6% range. Plus some into shorter term corporate bonds yielding in 3-4% range . But it has been a slow process.


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## 319905 (Mar 7, 2016)

I am putting some of my extra cash into a brand new boat, nothing fancy, 21' pontoon with 115 hp outboard for day outings. I counted 27 days out just puttering around on the old boat last summer ... 27 days. I'm looking forward to at least 5 more years of doing the same ... unless of course we relocate to somewhere on the water. Then it'll be a bigger boat and more days on the water. 

If you have extra cash put it towards something you enjoy doing ... if it's investing, well, good luck with that.


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## gibor365 (Apr 1, 2011)

1980z28 said:


> Please be over 50 years old as i may not under stand you


Will reply in 10 days when I will be turning 50


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## dotnet_nerd (Jul 1, 2009)

Spend half on exotic dancers, booze and (legal) marijuana.

Blow the other half.


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## redsgomarching (Mar 6, 2016)

can't answer your question because it's exactly that - your question... what do you like doing? what would you like to spend on? assuming extra cash means your basic cash needs are met then spend on whatever you want.

what i would do is invest further aha.


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## 1980z28 (Mar 4, 2010)

I did not provide enough info

I will have 350 to 400k in cash in the new year

I have enough investments for 50 plus years
have new house,vehicles,tractor and toys also lots of hobbies to enjoy
no debt
I give to the homeless shelter i came from in the late 70`s
only will travel all of NL,as i do not like to travel
i will retire soon at 56,i run and walk every day,my health is good expect to live to 100
Thinking maybe i will buy some houses for something to do or start a small business,will not need to make a profit


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## Nerd Investor (Nov 3, 2015)

1980z28 said:


> I did not provide enough info
> 
> I will have 350 to 400k in cash in the new year
> 
> ...


Do you have children or any particular estate goals (ie: charitable or otherwise?)
If this is truly redundant money (ie: money that you are absolutely certain you are never going to need/spend) and you've already topped up your TFSA, you may want to look at permanent insurance. 
Alternatively, if you absolutely don't care what you leave behind when you pass away, and truly don't need the money, consider making larger donations every year and enjoy the tax benefits (and feeling good about what you're doing) while you're alive.


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## janus10 (Nov 7, 2013)

What about funding other people to allow them the chance to pull themselves out of poverty? I'm sure there are many organizations but one that comes to mind is Kiva which provides microloans.

We do this and we will never know the full extent of the impact our money has on others, but what is negligible to us potentially changes lives across the world.

You will soon have far more at your disposal.


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