Best ways to splurge during last year of college with a decent amount of money?
Going to be somewhat vague but been playing poker "professionally" for the last year and had some success. Always been quite frugal but gonna be going into my last year of college this fall and trying to think of good ways to spend some to make it more enjoyable (already have a trip booked for the end of the summer). Any thoughts? Have about 80k liquid currently (not that anyone wants to hear me bitchin but was well into 6 figs before crypto dumped).
Also going to be recruiting for a consulting role this cycle fwiw. Genuinely not trying to humble brag here, just wanted to think of some ways I could make my life and some of my close friends lives more enjoyable for our last year together.
Watches that would retain value or appreciate
Disagree here. Love watches but think the "buy as an investment or store of value" argument isn't a great idea for 99% of people (I think it can make sense for very wealthy people as a hedge)
fair points. from an arb perspective, if you get can a sub (for example) @ retail, you could sell it down the line or 2/3x depending on the mkt.
look into niche omega speedmasters ...prices range from 2.5-10k and for the right model, it's a great "splurge" (both in the splurge and economics sense)
also ur original point was in regards to splurging not prude S&P 500 investing, hence my response
100% agree. If you can afford it (and make sure it fits properly), get an Omega Seamaster with a few different bands. These watches will last forever, and are always in demand (but once you have one, you will never want to sell it!).
yea that intial response made no sense, strange it got upvoted. no shit im not talking about watches that loose value + as mentioned, the OP listed "splurging" as the intent
A nice wardrobe
VTI.
what gives you joy? think on that, what's something that when you recall it, you always remember it fondly? if it were me, I'd do the following if I had that at your age
$10k - keep in cash for shits and gigs
$30k - invest for long term, may just give you an early start, may end up being a down payment on a house, but just put it in and don't look back
$40k - as follows
Lucky enough to be in the same position as you (same amount and same year in college). This is my ideal allocation.
60% - Main brokerage account that is heavily invested in growth/tech.
15% - Roth IRA. Same idea, possibly complimented by a small allocation in levered products like TQQQ and UPRO.
5% - In crypto between ETH and BTC
10% - In cash for the future. I would like to travel the world after college and have a good spring break trip to Latin/South America. I also want to be able to buy nice/cool gadgets for an apt after college.
10% - Ill-liquid assets that ill probably sell after college.
Build up a cash position and even put them in i-bonds until you want to spend the money. I think traveling is the best use of money as I believe those experiences are some of the most important at the moment. I know this doesn't fully answer your question but I would summarize by saying but your money into your future but also spend 10-20% on life experiences you'll never forget. (The post above about surfing in Costa Rica sounds amazing and would do that in a heartbeat if I had the time). Hope this helps.
hold your money in investments and enjoy it after you graduate in the summer (if you believe in crypto)
Del
I was in a similar position as you during my last year of undergrad. I traveled all over the world during my senior year and the following summer and met up with different groups of friends along the way. I don’t think you can put a price on the memories, but for reference, I spent 10k all in (food, airfare, hotels, partying) traveling to over a dozen countries for about 10-12 weeks. Depending on how frugal you are, you can do the same or more for a lot less.
My advice is that life is too short not to enjoy it! Like the other comments suggest, invest and save most of your earnings, but do something you will truly enjoy, especially before you get on the finance hamster wheel.
Invest in a Ninja air fryer, you can cook anything from steak, burgers, salmon, anything, etc, and learn to cook healthy and live like a king. You want to have an amazing year with the boys, cook steaks once or twice a week and buy a nice bottle of red wine to go with every meal!
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