You randomly get a free 50k no catch what do you do with it?
You get 50k dollars tax free no catch what do you plan to do with it?
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Put it in the bank and live every day like the day before!
Yup. Wife made us invest 64k this year. That's half a dozen pinball machines I could have had!
*index fund
$50k is a weird amount.
If you're currently financially in crisis, it will probably save your life. But if you're doing okay, it probably won't change your life much. And if you're even mildly rich, like six figure salary, you might not even notice.
I'd probably just put it in vanguard or a high yield savings, in preparation for bigger expenses that are probably coming (eg: moving, unemployment)
I'm doing ok but 50k would let me put a down payment on a house which would still be life changing.
You're making me grapple with how expensive housing is here. A down payment for a two bedroom apartment in Brooklyn is going to be like $100-200k.
It's fine, I tell myself. I can walk to everything I need and take transit to everything else.
If you're living in Brooklyn and not making six figures, you don't need to be living in Brooklyn.
I went to school in Brooklyn. Where should I have lived?
What does that have to do with it?
You suggested only people making six figures should live in Brooklyn. So when I was a grad student going to school on Brooklyn, where should I have lived?
As a child or in college?
Apartments here are ridiculous. I can get a home loan with payments half of a comparable apartment. Yes, I would be responsible for maintenance but I've owned before and it is still less expensive than renting even with maintenance.
My thoughts exactly. It wouldn't change things day to day for me other than going from renting to owning.
All depends on where in that range.
Low end? That’s like half a years salary and would absolutely make a difference.
Also, it's a post-tax $50k, whereas your earned income is a pre-tax $100k in that scenario.
Breathes deeply in making less than 50k/yr before taxes.
I’m so sorry. Seriously.
It makes a difference, but it's a few years savings, not life changing money.
Or well, it depends on how you want to change your life. It's around what I used to quit my job and move from a red state to a blue one. It can get you a new degree. It can be a down payment on a house. And in all these cases it involves a level of slumming it that had you been comfortable with you'd've been able to save it up relatively quickly if you had a 6 figure income
Ok boomer.
Same, or maybe split it and use half to pay off a bit of my mortgage principal.
I had that happen in January, I built my own bookstore.
what is that, like 10% of the cost?
They meant a “little library” for the front of their house.
The little free library I did for under $500. 😉
Nice!
Nope, I opened a full bookstore for less than $10,000. The other $40+ is operating funds. I can keep this going for some time!
Huh? How?
How do you open a bookstore for under $10,000?
Well, first you find a location with $600 a month rent. LOL.
Floor was $350 and $500 to install it. Bookshelves were $1,100. UV window tint to protect the product was $500.
From there it's a matter of setting up accounts with major wholesalers and ordering product.
Most folks don't realize this, but in general, the markup on books is around 35% to 55% depending on the publisher and the service.
I bought a bunch of nice Halloween stock for $6.50 a book, retail is $28.95, which is ridiculous. I'm selling them for $12.95 and still making money on them.
How much could a bookstore cost Michael, $10?
I love it. A Blacks Books fantasy of mine.
Do you have the little book of calm?
I'd pay off my house. No hesitation.
EDIT: I owe just a bit over $50K on my house. By chance, the amount OP chose fits my circumstances exactly.
Damm, where can you buy a house for 50k?
Pay off means the rest of the mortgage. So either at the end of a typical loan, or the rare cheaper houses where they still owe about half.
Or they could just mean they would pay down the house, which can be a big financial boon, even if not completely paid off. If you are in the US and have a normal 30 year fixed rate mortgage, then paying down 50k means you get to save on the remaining interest due on that 50k - so you don't just save 50k, but the compounding interest due on that 50k across the remaining liftime of the loan.
I missed the /s
Yes. But I think it's possible to find 50k property. Just don't expect much of it and to be near anything. A tiny house on a corner parcel that no one else wants.
What's wrong with a corner parcel?
Depends on where it is, how it's cut, and the size mainly. The biggest issue I see with a corner lot is you have two sides of your property that aren't really yours, since the street takes up some of the "right-of-way", aka ditches and such. I could be wrong, but I always thought that and other reasons make the value of a corner lower, so the cost as well.
The reason i ask is because in a suburb, the corner can get twice the street parking, and sometimes extra sunlight.
Same. I'd use the rest to get solar and dig a well if there was some left.
Instead of digging a well, you might invest in AWG if you're thinking of a prepper/solar punk kind of future.
Not work a day in my life. My country is so poor that's enough to sustain me for 50 years.
imma move to this dude's country and stop working.
Where am I moving to?
Where i live it's a great amount too no work needed for years but not for life
Which country? Phillipines?
Buy some solar panels and throw the rest at my mortgage
Same. Would love solar but its very expensive here.
I'd make my own solar panels since it's part of my Field of studies
Fun: new car, some kind of spicy electric thing.
Boring: Pay off mortgage. I died a little just typing that.
Having paid off the mortgage has it's monthly benefits, or so I have heard
Yeah, works out to around $250 per month saved interest.
But which would you rather, $250 per month or a pair of jetskis?
jetskis wont stop me from blowing my brains out from this economy
Its not the jetskis themselves, its the fun and exciting bad financial decisions you meet along the way :D
Jesus H Christ, there are just some things that should be rented, not owned. Tempted to buy a jetski? Go rent a jetski every weekend you feel like during the applicable season(s) for one year. Feel like jetskiing this weekend? Just rent a jetski, have a great time, and don't even worry about the cost. Sure, shop around for a good rental place. But once you've found a good one, just go to it as often as you feel like, ignore the cost entirely. Yes, it will feel like you're throwing money away. It will go against every instinct that tells you it's cheaper to buy than rent. But you're not throwing money away. You're buying insurance against potentially making a real bad financial decision. It's fine to spend money on things you love doing. But the risk in owning an expensive rapidly depreciating toy is that you will simply lose interest once it's no longer shiny and new. If after a year, you're still in love with the thing and are firmly convinced you'll want to jetski long into the future? Only then consider buying one. And even then you should calculate what the actual payback period is for renting vs. buying. If you love jet-skiing, but only a couple times a season? It's probably not ever worth buying one. Use it the majority of weekends through a whole season? Might be worth it.
It's just the nature of the rental business that it will take at least several years worth of the average person's use of a thing to make buying a better option than renting. Same goes for RVs, regular boats, really any big expensive motorized thing that you can either buy or rent. (Cars and other modes of daily transport are the exception. These simply a necessity for many people. For millions, the need for vehicle ownership is a near-lifelong requirement, so there's no risk of buying a car and then two years later never driving it. )
I agree, but would go further. Many people buy cars much bigger than they need, in the hope that "One day I'll need the tray" or "4wd is useful when I go camping", but the reality is that they could buy a city car and do 99% of their day to day driving, with a lower up front cost and maintenance costs, and then with the money they have saved they can just rent the 4wd/truck/whatever.
I needed a truck one time for an hour. $200 to rent it, didnt even fill it up again and return it. Way cheaper than owning a truck.
Enough seriousness.
The reason to buy instead of rent is to avoid the excessive premiums when you inevitably send it to the bottom of the pond you're dicking about in. Its YOUR jetski, YOU have the FREEDOM to park it WHEREVER you LIKE!
Or buy one that's 10 years old and learn to maintain it yourself. Worst case, you decide you don't want it after a year and sell it. Depreciation from year 10 to year 11 is close to zero.
I suppose I don't know a whole lot about the lifespan of jetskis.
This sounds like a guy who's desperate to get rid of his 10 year old jetski and pass on the buck to the next unlucky sap. My brother in laws family owns a christmas tree farm on 100+ acres of land and they have a fleet of snowmobiles that are an absolute bitch to keep running let alone maintain. I dont imagine jetskis being that much easier to own.
You mean Ala pair of motorbooters?!
I could just show you better than I could explain it. I’ll dm you my Venmo.
Two women at the same time.
Funnily I managed that far more when I was dirt broke than comfortable.
Well you're not a short, balding, chubby guy with a tiny dick.
Thanks Lawrence.
50k on black
So, what would you do if you won?
LET IT RIDE
Exactly the answer I expected.
Someone has to buy bottles at the club to subsidize the rest of us, this is that person.
Straight to my mortgage principal. Because I'm dull like that.
Fuck yeah I'd probably do the same
Build a sauna. On a boat.
Ok, I guess I don't really need 50k. Give it to someone else.
I appreciate the honesty xd
Boats are holes in the water that you throw your money into. Waste imo
I choose to believe that in this dream of yours, it's actually a house boat, and the only cabin onboard is a sauna. You just live in a sauna sailing around on the sea. You own no clothing other than an abundant supply of towels.
I'd buy two sticks of RAM. I know I'll have to use some of my own money but I think it'll be worth it.
Pay off mortgage, not glamorous but it works.
wow even 50k is not a glamorous amount ? Or you mean to just use it on a mortgage ( surprisingly most people here pick that)
Not if you have a mortgage over 200 to 500 thousand Dollars because you bought a house on credit (which is how most people buy a house because that really is an amount, even the well-earning middle class needs decades to accumulate).
It's nice, but not life-changing.
It makes a dent, that's easily more than 2500 a year in interests.
Yeah, definitely nice to have - but not glamorous or life-changing.
Invest it all and forget about it for a few years.
Aaaand its gone.
🤣🤣🤣
I am debt-free; I save it for when I need to replace my GPU.
Might want to save most of it for your next memory upgrade too.
Yeah, should really have gone for 128 GiB instead of just 64 in 2024. On the other hand, DDR5 RAM training really is uncomfortably slow. Always looks like it's dead when there's just a black screen for half a minute before the actual boot happens.
I'd try to work out what the scam is as I work in sterling or euros usually.
You mean you'd be suspicious of that amount? In this case let's say it's not something shady what would you do with it?
Nope. I'd be trying to work out why I have USA funny Money being sent to me rather than a normal local currency.
In all seriousness (and ignoring the USdefaultism) I would pay off mortgage for myself and any family members and any remainder would go to a local chapter of https://menssheds.org.uk/ or similar organisation.
Tbf am not from the US i picked that currency because most people here speak American English so i just went with it, It's interesting how pretty much almost everyone went for the mortgage route
I'm impressed that 50K is enough to pay off not only your mortgage, but other family members as well.
It would be for my parents but not for myself. I would pay the last bit of theirs off and take a chunk of mine and try to get my brother out of rental.
Vanguard ESGV is a decent investment. It's like the S&P 500 but with less guns and war.
Thats a nice ETF. Expense ratio is pretty low and its performance YTD and 1Y are within about .5% of the S&P500 (with it beating the S&P500 YTD).
For others, if you'd received this magical $50k exactly 1 year ago and invested it in ESGV, you'd have about $60k today.
In addition you destroyed 12 acres of nature, reduced the income of 15 other humans by 5% and made a family in the southern hemisphere homeless 👍
How?
Not OP, and not saying don't invest in this, but I'm guessing this is something to do with data centers, pollution, and ai.
Ah, that makes sense. Thanks
I’d probably go to a really much bougie rehab. I’m not addicted to anything but I feel like I won’t get a whole month off work otherwise.
I always answer these in case OP is loaded and wants to give someone 50k because they are bored.
Unfortunately i am quite poor but i was curious, and apparently most people here don't really need that amount but tbf in my country 237$ is enough to save someone like me so it's economic matter
Buy someone's leg.
Any plans for what to do with their leg when you get it?
There are infinite possibilities when you have a real human leg.
I would use it to cover expenses while I continue to look for a job. COBRA isn't cheap, and I need good coverage for my various issues.
10% to charity immediately. A brand new set of harddisks for my home server. For my son and my daughter each a nice vacation with their dear ones. Jewellery for my dear wife. A party night for 6-10 friends. The rest goes into savings.
Nothing. I don't have my own place, and could use it towards that, but I don't want to own a house. I prefer to be flexible, and renting is less of a hassle. Don't have a car, but if I wanted one, I already would have bought one. Don't have any debts to pay off.
For life-changing money, it's too little.
I might give away some of it.
Buy enough solar and batteries to become energy independent for the rest of my life.
With that money i could build one myself from scratch
You'd only need a fraction if you DIY, which is definitely worth it to learn how to do so you can fix it yourself.
I do actually know how to build them from scratch i am a semiconductor and microeletronics PhD student ,unfortunately i don't have the time or money to do it :(
Fix a bunch of things around the house before they get worse.
Straight into the investment account. It's not nothing but I'm not strapped for cash, and 50K USD alone can't do much where I live...
This thread is depressing.
Pay off my car or put it into my mortgage and live like I didn't get 40k. The remaining 10k I would split among my 3 kids. They deserve something nice.
Put it in the investment account. (I do want to retire some day.)
For me, I'd have my and my family's medical bills paid, I'd buy equipment and other things for my PhD (specialized antenna, LCR meter, a well-paid internship, cadence virtuoso semiconductor pdk rf tsmc 65nm and 180nm maybe more since I already got the 90nm from my institution) also air quality monitor to conduct a city-wide personal study for personal reasons, and get a bigger counter and an emf to explore abandoned buildings and see if certain suspected areas are radioactive, get native species of mycorrhizae fungi fertilizer for nearby trees, get a good PC and probably adopt a street cat, the rest I'd invest in solar energy
Turn my basement into properly approved living space, increasing the value of my house by roughly 33%. Then it's time to renegotiate my mortgage rate.
I'm too young to own property in my life time and don't understand the renegotiate mortgage meme.
How come the rates are lower if the house goes up in value?
In short, if your house increases in value, the money you owe vs the things that you own changes in your favor, resulting in less risk for the bank. It is therefore likely that a bank (not necessarily the one who currently has your mortgage) is willing to give you better terms/interest based on the new circumstances, and your current bank will therefore make an effort to be competitive.
Pay off debt.
Edit: adding context
My wife recently lost her job to AI. She wound up finding a job that she actually likes, but at about 50% of her old salary. At the same time, I racked up some healthcare bills and we have a child trying to get out of the country for college, but of course the loan from Sallie Mae may not get to school in time for the first year, despite the fact we started the process about a year ago. About the only way we can think of to temper the loss of income is to sell the house and use the cash to pay off debt and live… somewhere.
If we could get out of the debt we are in, my wife would be able to keep her job and we would be able to help pay for college without selling the house.
Hopefully, we will find another way because ain’t nobody willing or able to give money away in this country lol
I'd put it towards building a new roof for my house. Current one is 100 years old now and somewhat falling apart. Would still only cover about half of it though.
Thats a fancy roof. We got quotes for ours and its like 12k.
You could say that. At least it's a type of roof that's now rare and that is difficult to work on. It's a mansard roof with a very steep part and a flatter part towards the top. Something like this.
I invest every penny of it in corn futures.
Can I ask why? I know nothing about corn.
Stick around the shitposting group next time trump does something stupid. You'll learn all sorts.
I would invest it. It's a good chunk of money but it wouldn't change my life.
I'd use half to clear the debt I've been clawing my way out of for the last couple of years, and the other half to fix the retaining wall so I can finally build a small backyard studio with loft to use as an office/guest space. Any leftovers would go toward the construction of the studio.
Pay off debts, get repairs, invest/save whatever is left.
I’d kill two-thirds of my wife’s student loans. She would be quite happy.
buy some land up north far away from civilization and build a nice quiet piece of paradise to run to.
fuck this planet. I want to crawl into the deepest darkest hole and disappear forever.
Pay off immediate debt. The rest in the high yield or whatever has the best over like 5 or so years. Not tell an app my exact needs with that money.
Invest it. I don’t need stuff so I wouldn’t go on a shopping spree. I’d rather have it later and take some vacations with family.
New wheels and tyres then the rest on the mortgage.
Pay like 1/20th of my mortgage off
Legit? 1 mil?
Housing prices are fk'd. Its getting better though
Bought our 14 acre farm 5 years ago for 225k ☺️
We also bought 5 years ago 😔
Probably fund a couple months of breaking rich people shit...
I would build a building to have my business inside. It’s a lot of money just for the concrete and rebar for the foundation. My current business is mixed between several sheds, and some outdoors. It’s a mess. Also pay off a small debt I have left. Debt sucks!
Straight to the mortgage.
Bills. Bills season tickets!
Put it in the bank, I have everything I need and can afford and everything else is still far out of reach with 50k.
don't work for as long as the money lasts.
A friend's roommate did that. Said he saw he saved $50k in his bank account and just didn't want to work for a while. I asked what he planned to do after he ran out of money and he said just go back to work again. Haven't talked to him since so no clue how it went for him
Two girls at the same time!Um, buy a new bow maybe, dunno.
Chicks dig dudes with money
How does that work in practice? Should I carry print outs of my accounts?
(Yes I know this is just referencing office space)
Move back home to Brooklyn where the cost of living is significantly lower than it is where I currently live, bank the rest of it and start looking for work.
Everyone knows you don't quit when you're on a winning streak. Come on black!
Just br careful where you do this. Most casinos will call the cops.
Well then come on red! no, that won't do either
Mostly retirement funds, but I might splurge and buy myself something nice as a treat
probably give my 10 favorite people $5k. id do it anonymously too.
I put it into ETF index funds. It's a lot of money but it doesn't enable me to buy anything I couldn't already buy if I truly wanted to. I'm fortunate enough to say that it's not a life-changing amount of money for me.
Give me 300k and I'll buy a piece of land somewhere by the water, build a small cabin and live as a hermit.
Down payment on a house
Pay off my student loans, go on a small (3-4 day) vacation, put the rest in the bank, and enjoy not laying in bed at night panicking about how I'm going to pay for the new battery and repairs that I know my car will need in the next few months.
Renovat my bathroom, install an air conditioning system, use the rest to pay the mortgage.
See if it's enough to get me a down payment on a house. Probably not though.
Take 2-3k for some immediate material niceties i cant afford otherwise, the rest goes to my mom who has probably some leftover obligations from when she bought a little apartment.
Slap in a bank account and feel a little more secure but still nowhere near being able to retire.
It's crazy to think this is no where near that for some people
If you want a roof over your head, most places have property taxes of $3-4k per year even if you own it outright. If you want to ever leave your house a car costs about $5-10k per year. If you aren't living on rice and beans food costs about $3-6k per year. This doesn't include any clothing, taxes, medical expenses, hobbies, travel, or other bills like water, natural gas, electric, etc.
If you're incredibly frugal and quality for public assistance, $50k might last you a few years in the US.
Key point here in the US, where i live 50k dollars is enough to be a rich investor +house +car + years of necessities
How relaxed or strict are your immigration laws? I paid $40 just to park my car for a few hours a few days ago.
Oh uh am in what you call a third world country, it's nice to visit but idk if you'd want to live here , also 40 dollars is what a regular person like me make in a month, it's actually crazy to hear that you pay that just for parking parking costs like ~0.2$ to 0.39$ max
If you're american you can literally just drive down to mexico and nobody checks or cares
Dunno. Probably see what my family needs most first, then check if it's worth getting a used electric car. If not, keep it around to pay some standing debts.
Pay off my wife's student loans which run us like $900/m. With the ~10k left over split it into some HYSA for my kids and my sister.
The extra $900/m would go towards the principal on our mortgage and maybe we could actually pay it off before I die.
Buying the best bed possible, paying off my whole debt, and going to sleep for a long time.
Luxury beds can run above half a million dollars. How much bed money would you have left bafter paying off your debt?
!?! 1400 max here, I have not seen another.
It's just dumb rich people stuff. Hand sewn camel hair and silk and stupid stuff. They don't have to sell them everywhere, they sell at a handful of elite shopping locations. The champs Elyse, the Koenigsallee. They go hand in hand with $200k watches and yachts.
Oh I see! I now know how to earn that 50k...
Buy a two-flat in the neighborhood to fix up for my father and father-in-law to live in.
Pay for new teeth, up my Patreon subscription for my favorite artist by factor 5 and then back some great projects made by human artists on Kickstarter.
Put it in the kids 529 account.
Put it in my Roth IRA and have $850k in 25 years
There are some limits on what you can put in a Roth IRA in a year. I don't think that you can contribute $50k in one year.
searches
https://www.schwab.com/ira/roth-ira/contribution-limits
Hmm. I dunno if you can defeat that via the Roth backdoor loophole.
searches
Sounds like not. That apparently defeats the more-restrictive income-induced contribution limit, but not the absolute cap on contribution limit.
https://investor.vanguard.com/investor-resources-education/article/how-to-set-up-backdoor-ira
EDIT: That being said, would be possible to invest it and to annually max out the contribution. Have to pay capital gains taxes on the gains you make prior to getting it into the Roth account.
EDIT2: If you're currently working somewhere with a 401(k) that you aren't maxing out, I think that you can max that out. That apparently increases the annual absolute contribution limit.
https://www.fidelity.com/viewpoints/retirement/earn-too-much-contribute-Roth-IRA-conversion
https://www.fidelity.com/learning-center/smart-money/401k-contribution-limits
I'm not sure about IRAs, but for 401(k) you can exceed $24.5k of personal contributions by making After Tax contributions.
Then, if your 401k account supports it (Fidelity does, but I'm not sure if it depends on your company), you can have the After Tax contributions automatically converted to Roth.
The problem with After Tax is you've already paid taxes on it, but also have to pay taxes later on earnings (so might as well put it in a normal investment account at that point). By converting it to Roth you don't have to pay taxes on earnings.
This applies to personal contributions. Company contributions and personal contributions combined have a higher limit ($72,000).
This is usually called "mega backdoor roth", and from time to time there is talk about closing the loophole.
Yes you can defeat this with both the Roth backdoor loophole, the mega Roth backdoor loophole, and the Solo 401k --> Roth loophole. Or, just put 7.5k in every year for 7 years, presto
And really, even keeping investments in a taxable brokerage account is fine. Until a married couple makes over $613k, their tax rate for long-term capital gains is 15%. And over that it's only 20%. The US loves to tax labor and consumer spending, but not investment income. It's baked into the tax code. If I invest $50k and over 25 years it turns into $350k, I honestly don't mind paying 15% on those $300k in gains. And if your household income is under $99k, you pay no long-term capital gains tax. This effectively means that those living off of large amounts of taxable mutual funds can cash out up to $99k in gains per year without owing taxes on those gains.
And there are some oddball circumstances where taxable accounts are even better than tax-advantaged accounts. I once worked at a job where the 401k had terrible options. They simply had no low-cost index funds. They all had terrible expense ratios. I did the math, and the compounding effect of those ratios, eating away at my retirement savings, reducing its compound growth year-by-year. I ran some calculations, comparing investing in the expensive 401k plan or low-cost index funds in a taxable brokerage account. And the taxable brokerage account beat it out over the length of a career. Even when I assumed I would have to pay 15% on all gains made, a cheap taxable investment account can beat out an expensive 401k plan. Certainly not the ideal situation, but people rarely have the luxury of rejecting an employment offer because of the options in a company's 401k plan.
In the 25 years you will be going to war invading Canada for water buddy boy. Better enjoy the money now.
I'm torn between spending everything in physical products that would last, or putting it all in savings and stock market accounts. Buying physical products would be a better investment for an eventual collapse, but a %7 savings account would still be interesting in the long run.
Anyway, nothing would goes to any kind of entertainment, life is too shitty at the moment.
Start building a house and fix some of the issues on my vehicles. If there's any left over then save it for emergencies.
I would use it for purchasing large quantities of uranium glassware and for equipment and supplies needed to extract uranium from uranium glassware. I wish to recreate and improve upon the experiments of famous experimental physicist David Hahn. 🤣🤣🤣
Move out of my current living situation and save the rest.
Pay off my car payment, part of my credit card debt, save the rest. That'd free up over $600 a month I could then save up further or pay down more debt.
Pull a card from Brian Eno’s Oblique Strategies and see what happens
Kayak the McKenzie river from Yellow Knife to the Arctic sea. Ascend Mt Robson via the wishbone arête. Whitewater raft the full Grand Canyon. Have a Diet Coke.
Use it to keep my adult kids housed and fed, as usual.
yeah I was gonna say make it another year.
Debt free and my kids get superb birthdays every year
Yes you can defeat this with both the Roth backdoor loophole, the mega Roth backdoor loophole, and the Solo 401k --> Roth loophole. Or, just put 7.5k in every year for 7 years, presto
Straight in the offset account. So I can pay slightly less interest on my mortgage for a bit.
Build homelab to self host stuff. The rest goes on food to be spent over time.
I wonder what the cost for building a basement is. Would be amazing to build one and host all my homelab stuff in it.
Pay off by brother's student loans.
Or hire an artist full/part time for a game I'm working on.
Aww that's a nice thing to do for you brother
Pay off the remainder of my car, and then my mother's debt and wipe my hands of it all and disappear into my own life
I would buy an RV and live rent free wherever i want to
Pay off a chunk of debt.
Pay off some debts and the remaining 20k I’d put half stored up for covering running costs for a year or two, lessening our household stress for a bit and help us save up or just live a bit more, and another half I’d invest in homelab and some infra I’ve been holding off on due to lack of funds, hoping it might start paying dividends on my side projects / gigs eventually and pay itself back with more besides. So it wouldn’t give much, but it’d be big mental health boon for a few years
pay off the last of my debt since that should about cover it
Pay off some debt, buy one fun thing, save the rest for a house. The fun thing might be either a pair of Focal Bathys MGs, a new GPU, or an electric unicycle.
As a middle-aged homeowner with a modest house that's older than me, not to mention two old cars for the family: This is a situation where I'd probably try to spend as little as possible at first, but I could also make that money vanish overnight and nobody would notice.
Talk to someone smart about money about this 40k windfall of responsibility, suddenly have 10k in the yolo account.
Add to my pension. The current amount will make me destitute.
Buy gold and bury it in the communal garden.
Go to a really nice dinner and put the rest towards my wedding anniversary.
It would make my upcoming move way less stressful.
Home care once per week, but take care of some people close to me too.
I'd take time off work and travel europe for 6 months with my wife
Pay off my car. New CNC. Save the remaining
Either savings or pay off student loans then savings
Pay off my car, save the rest.
Invest it, probably in gold.
Buy groceries, take family out for a lunch or dinner whatever and put the rest into savings
Pay off bills for the year. Donate the rest to food pantry. Fuck money.
Probably use it as the deposit for a house. 50+100 would allow me to get a 4 bedroom house with a 20 year mortgage but I'd probably go for a small apartment and pay it off in 5 years. It'd save me quite a bit extra on the interest as well.
2009 Porsche Cayman S
That's Worth the entire 50k?
Like 40k cad then something leftover for maintenance
I see
No. Modern cars suck. They have subscription fees and drive by wire steering instead of a good old rack & pinion. Driving a modern car feels more like playing a video game than actually driving. Yuck!
No, I'd modify my 350Z instead: LS swap, upgraded transmission with closer gearing, airbag suspension, upgraded LSD, new headlights/taillights, touring seats, push-to-start, replace every mount and bushing with polyurethane, and update the interior with either leather or velour. And of course toss in a bangin' stereo with Android Auto and a 2000w RMS sub. Finish it all off with a custom candy blue paint job.
Now that would be worth $50K.
Modern cars are awesome, I love all the conveniences.
Look, I want you to have what you want, but it would be great if it didn't come at the cost of what I want. I just want a new car that's a car -- hand crank windows, physically adjusting seats, and a radio that will take Bluetooth music from my phone (I can do maps on my phone screen). The fanciest feature i'd want is cruise control. But that shit is not possible on a new car anymore, and it's all starting to go the way of subscription based. Everything has to be electric this and heated that and through their app, because nobody can go without their conveniences. And this is partly why new cars keep getting more expensive, and also why insurance keeps going up (this whole RAM and ssd and across-the-board inflation shit is going to explode prices even more too).
This isn't a beef with you specifically -- it's more of a beef with manufacturers and society as a whole.
Anyway, carry on. I'm glad you like new cars and I hope you have a very nice one.
I have an EV with capacitive touch buttons for everything and a screen in the middle of the dash that basically exists solely to serve up CarPlay.
Maybe it’s because I’m older and have already lived through crank windows, no air conditioning, no airbags, and all that stuff, but I much prefer the creature comforts. I don’t really see a compelling reason to go backward.
I too lived in the forgotten days of crank windows and 3 ashtrays for every lapbelt. So it's not because you remember those days and I don't. I'm sure it's because you like easy things and have money to spend on better car and choose to do that with your extra money rather than feed the hungry and shelter the homeless. I'm guilty of the same.
Can’t save the world, but I try to give back when I can. This economy has me in a vice too. I bought the car before everything went to hell. No way I would now, but I think CarPlay would still make the short list of requirements.
Those "conveniences" just get in the way of driving. Especially traction control.
Nah, traction control especially is great.
Stability control is great (especially for emergency situations)—traction control, on the other hand, just gets in the way of burnouts and powerslides—especially in newer cars where they're combined into one setting and can't be fully turned off. In my Z, "TCS off" and "VSC off" (stability) on the dash actually mean that.
Get my bathrooms renovated professionally.
That takes the whole 50k?
Based on recent estimates in my area, close to it.
That's honestly insane
A couple of years ago we had to do our roof, our water heater, some foundation work, and our HVAC. Cost almost $50k exactly in total but it's all paid for now. No debt except my mortgage, but I have a great interest rate so I probably wouldn't pay it off early. I'd put $50k towards a new truck.
It's not quite enough, but I need a new truck. So I'd pull out another $20k and get one with no payment. I haven't had any debt other than my mortgage in years and I'm trying to keep it that way.
I'd spend half in a combination of paying down debt and giving money/things to family and friends.
Then I'd probably spend the other half of chasing down the dream of getting a game made. Hire a programmer for a few months and see what we could do. Given a smaller scope, I imagine a lot.
New computer. Tho maybe not a 5090 if they're gonna be catching on fire.
Nothing for a few years. Maybe buy a GA.
Half to student loans, the other half to home improvement.
I acknowledge your honesty
Pay off my house (or most of it depending on what the exchange rate is doing)
Pay off a loan probably
I would invest in something useful, for example, put aside a few dollars for expensive treatment if they are needed in the future, donate small pieces to projects or organizations that are interesting to me, or open source programs, if I really like the program, the rest of the money would be spent on things for my work, like a good computer, and other all sorts of necessary things, and I would also invest in crypto, which is reliable in cold wallets 😀
Pay off all debt except the house. Pay the taxes on the 50k.
Trade in my 4runner for a rivian
Stop paying home insurance because I'm self insured now.
A perfect 3 part explanation of the corruptive influence of capital