First thing you would do if you won 50K.

[tocino]

just moved into our new house last December so I would probably use some of it to build a deck plus landscaping for the backyard, finish out furnishing the house, pay off some of our bills, plan a Disney cruise, and put the rest in savings

[MtlJeff]

You guys seem to have an inflated understanding of how much money 50k is. It's really not a lot. Put it in an ira and enjoy a slightly better lifestyle in retirement

 

What did people say that was so unrealistic? Paying back loans, buying a car, putting it towards mortgage....50k can't help with that?

 

Does everyone in this thread live in San Jose?

It's not that anyone said anything "unrealistic," it's that on virtually anything cited, 50k doesn't matter that much. Yeah it would be nice to pay more on a house but median home price is 200k, so it's not like it's getting rid of the cost (not to mention buying a home is a terrible investment)

 

Paying off cars is great but most of us don't have 50k in car notes, and, if you do, then 50k probably doesn't mean a ton to you anyway.

 

Paying off student loans would be a solid use and right in the ballpark.

 

I guess it's just that the topic is kind of underwhelming. 50k wouldn't really cause me to do anything different really, and I suspect most feel the same way. If you don't earn much, then 50k solves some temporary problems but doesn't fix anything long term; if you make substantial money, 50k really isn't much to you.

 

I've been fortunate enough that, although not "winning" that much, I've found some strange and unique ways to increase gains several times that amount. My life hasn't changed. I still rent. I still drive a 20-year old car with 180k miles on it. I still golf at generally low-end places.

 

I dunno..it's just...I dunno

 

50k wouldn't change my life, I'd just have 50k less bills or future bills to worry about . And that's a good thing. I generally am pretty thrifty too, but still, 50k off my mortgage would lower my monthly by a nice margin. It could also get me a new car so we wouldn't have to worry about replacing my wife's in 2-3 years.

 

It's not a trivial amount even if you're doing well. I believe the average salary in both the US and Canada is around there, and that's before taxes

[One_Putt_Blunder]

I dont have much debt $80 CC balance $0 once I pay the bill this month and our moderate condo mortgage, I have not had a car in a little over a year since I live .5 mile to work, I am currently saving to buy a new truck, since I have no immediate need for one taking out a loan on a $40k pickup is more than I want to saddle myself with so I just keep saving up until I can put at least 50% down to have a smaller payment. If I had an extra 50k I would prob put 15-20k + what I have currently saved as a down payment on my truck which would leave me with a cheap payment. Then another 10k into upgrading our kitchen and floors in our condo. Invest the remaining 20k. Would definitely be nice, not life changing but very nice.

[touch]

make the backyard look something like this

 

 

 

And the basement something like this

 

 

 

and with the change left over start a collection of cool Staff Bags

[joeylough]

clubs, Pay off cars, holiday's just 2 little ones, mortgage..... in that order

[Pingfitz]

Take out money for taxes, invest the rest.

 

[CommerceTiger]

Drop it into the mortgage and pretend I never won it.

 

21 year old me is likely very disappointed in that answer.

 

Haha. Don't feel too bad, I'm 22 and I would get out of all my debt and put the rest on my mortgage too.

[MattTheTaff]

I would put the money towards the operation.

 

I'll transition and start competing on the LPGA tour.

[Gamble Gamble]

I would put the money towards the operation.

 

I'll transition and start competing on the LPGA tour.

 

CaitlynTheTaff has a good ring to it.

[BoogieThumper]

Get custom fit for a full set of PINGS, then drive down to Monterey for a long weekend of Pebble/Spanish Bay and Jamison. Then give the rest to the wife.

[Argonne69]

Last July I played Pebble Beach. It was my 400th course played. If I won 50k I'd book a trip to St Andrews to play the Old Course as my 500th. I'd fly first class, stay in the Old Course Hotel, and basically pamper myself.

 

Since I'd be over there any way, I'd stay 10 days and play 7 or 8 of the finest courses in Scotland.

[ThinkingPlus]

Buy a new bay boat. Sea Born FX22 would do nicely.

[bigred90gt]

I would put it in the bank and use it if needed for what I believe is going to be my upcoming lay-off next year. It would hold us over till I could find other work. Whatever was left after would go toward my step-daughters college.