Saturday, October 16, 2010

What to do with the money?

The federal government, in an idiotic move, made a change to one of the tax codes and next spring when I complete my tax return I will be receiving a credit of over $20,000!  I'm not saying what I did to "deserve" this money but it's legal and I will take the credit.  


This leads me to a huge dilemma.  What am I going to do with the money?  Number one idea is to pay down the mortgage.  Getting the place to a position of outright owning my property is a very lofty goal.  This money won't even make it close but would take off four years worth of payments. 


Second idea is to put in solar power.  Not the grid tied type which is worthless if the power goes out but the stand alone solar power.  $20,000 would get me a good system that I think would probably cover all our electrical needs.


Third idea is to finish with the six foot wrought iron fence across the front of the property.  That's five thousand.  I'd have $15,000 left.  With the other $15,000 I could buy lots of stuff. 


The fourth idea is to make more improvements to my mountain property.  It needs fruit trees, fencing, and just about everything.  At this property I am always putting in more fruit trees, as I believe you can't have too many, but if I didn't add any more we'd still be ok. 


My fifth idea is to ask you.  If you had this windfall, what would you do with it?  As you can see, none of my ideas include putting the money into the bank or into savings.  I do not believe that that would be the best use of this money.  It's a one time chunk of money.  I don't ever expect to have this amount given to me again.  Ideas?


  1. My thought is to put it into the solar power. The more independent you are the better off you will be. If you have solar then you won't need to worry about your well or the refrigerator or the washing machine. You can even have enough power to run the air conditioner some of the time. You'll be able to grow as big as a garden as you'll need without worry about water.

  2. If you don't have a year or two supply of food you need to do this. Do you have enough weapons and ammunition? You should also look at Rawles Gets You Ready and head to Costco. Then buy silver coins. Then finish fortifying your property.

  3. You've said that you have kids there. Do you have clothes, shoes, and other necessary items for them for all of the sizes that they will be growing into in the future?