You get 50k dollars tax free no catch what do you plan to do with it?
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!
$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.
Same, or maybe split it and use half to pay off a bit of my mortgage principal.
Straight to my mortgage principal. Because I’m dull like that.
Fuck yeah I’d probably do the same
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.
I love it. A Blacks Books fantasy of mine.
Do you have the little book of calm?
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?
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.
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 :(
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.
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.
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.
Buy some solar panels and throw the rest at my mortgage
I’d make my own solar panels since it’s part of my Field of studies
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
Put it in the investment account. (I do want to retire some day.)
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.
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
