What to do with $100,000 now!

Got $100,000? You can buy that vacation condo outright, get an executive MBA or make a big donation.

Buy a vacation condo

100000 palm springs
Palm Springs, Calif.

And skip the mortgage. Last year 46% of people who bought a vacation home paid cash, according to the National Association of Realtors, up from 36% in 2010. One reason, says NAR's Walter Molony: "It is more difficult to get a mortgage on a second home."

The good news: Buying a condo in a bustling town or a beachfront community can be relatively affordable, even in the most coveted warm-weather communities. The following cities are popular destinations where you can find plenty of one-or two-bedroom units for around $100,000 or less, according to Trulia.com.

Kissimmee, Fla.
% of condos $100,000 or less: 41%
Where to look: Near Disney
Why it's a hot destination: A lakeside perch and proximity to Orlando theme parks

Fort Morgan, Ala.
% of condos $100,000 or less: 34%
Where to look: Gulf Shores Plantation
Why it's a hot destination: Beaches and a historical fort

Palm Springs, Calif.
% of condos $100,000 or less: 50%
Where to look: North or south of city center
Why it's a hot destination: Warm desert weather with loads of outdoor activities

  @Money - Last updated October 01 2013 04:06 PM ET
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What to do with $10,000 now!

If there's an extra $10,000 in your budget, consider investing in low-cost index funds, buying a reliable used car or taking a European river cruise.

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