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Chula Vista 09-17-2018 05:20 PM

Quote:

Originally Posted by Frownland (Post 1997758)
Important distinction. You could buy your daughter's whole house for her if you wanted.

Oh, understood. They want everything to be in their names for tax purposes.

windsock 09-17-2018 05:26 PM

Man do I feel warm inside after eyeing that cash.

DwnWthVwls 09-17-2018 05:27 PM

Quote:

Originally Posted by Chula Vista (Post 1997752)
$45K in cash. 450 twenties, 310 hundreds, and 100 fifties. I feel like I'm living a tiny scale episode of Ozark. :p:

https://i.imgur.com/tifkV7b.jpg

Did you get permission or does that wad have its selfies all over facebook?

Frownland 09-17-2018 05:29 PM

A lot of that money doesn't look over 18 years old either. Be considerate of others ffs.

Chula Vista 09-17-2018 05:30 PM

Quote:

Originally Posted by Mindfulness (Post 1997759)
bet that'd buy a lot of mac n cheese :o:

Quote:

Originally Posted by Kiiii (Post 1997760)
My first thought as well

Amazon is selling a 5 pack of the original Kraft stuff for $4.50.

That's 50,000 boxes of the ****. A box for breakfast, lunch, and dinner for almost 46 years straight.

Side note: One guy's weird is another guy's :rolleyes:

Frownland 09-17-2018 05:32 PM

Quote:

Originally Posted by Chula Vista (Post 1997766)
Amazon is selling a 5 pack of the original Kraft stuff for $4.50.

That's 50,000 boxes of the ****. That's a box for breakfast, lunch, and dinner for almost 46 years straight.

Side note: One guy's weird is another guy's :rolleyes:

Doesn't have to be kraft. They make pretty fancy mac n cheese these days.

OccultHawk 09-17-2018 05:33 PM

Quote:

Originally Posted by Chula Vista (Post 1997752)
Yup. RV's depreciate more than cars once you drive them off the lot. Think of it this way. If Linda and I had never split up we'd have not sold the house - and not each pocketed a ton of profit from the sale. Profit that allowed me to buy the RV with cash I never expected to have in the first place.

As of today we're back together, getting along better than we had in over a decade, and even after all of the expenses from the split, each still have a ton of money in savings. Massive net gain for both of us.

Which goes to the $45K. Sherri and Scott are in escrow on their first home. They put a ton of money down from their savings. They wanted to put another $100K down but the rest of their savings are pure cash and not in an FDIC bank. So we came up with a plan.

Federal law allows you to gift a maximum of $15K a year to family members. So Linda and I each gave Sherri, Scott, and the new grandkid the max for a total of $90K as a gift towards their home purchase. This will save them about $600 a month on their mortgage payments.

We each get paid back in cash which we can't deposit until after they close escrow, and in increments of no more than $10K on any given day. More than that and the banks are obligated to report it to the IRS.

TLDR;

$45K in cash. 450 twenties, 310 hundreds, and 100 fifties. I feel like I'm living a tiny scale episode of Ozark. :p:

https://i.imgur.com/tifkV7b.jpg

That would be hilarious if someone saw that and was able to track it down and steal it.

OccultHawk 09-17-2018 05:35 PM

Quote:

They wanted to put another $100K down but the rest of their savings are pure cash and not in an FDIC bank.
Why can’t they deposit it and write a check?

Aux-In 09-17-2018 05:36 PM

No way my parents would give me $45K, even if they were to get it all back.

Frownland 09-17-2018 05:36 PM

Good post/avvy combo

Quote:

Originally Posted by OccultHawk (Post 1997770)
Why can’t they deposit it and write a check?

Thanks to the patriot act, it needs a clear paper trail which takes a crazy amount of extra work for cash.

What Are Seasoned Funds for Your Down Payment?


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