T Nation

What Would you Do with $50,000 ?

Well? What WOULD you do if you came across this money?

I’ve come into a small inheritance, of part property ownership and am going to cash in part of my share.

I want to use the money to fix myself up and set myself up for the future with some savings & investments, and possibly start a new life overseas in a different country - likely USA.

Rub one out.

I would make financial investments, especially in the American market. It’s cheap as shit right now and will rebound. IRA, mutual funds, blue chip stocks…

[quote]JohnnyBlaze wrote:
Well? What WOULD you do if you came across this money?

I’ve come into a small inheritance, of part property ownership and am going to cash in part of my share.

I want to use the money to fix myself up and set myself up for the future with some savings & investments, and possibly start a new life overseas in a different country - likely USA.[/quote]

I’d save it mainly. There would be a few things I’d buy for myself, like a new receiver for my entertainment system, but for the most part it would be for saving and investing.

I’d pay myself 10,000 of it and invest the rest in a business model I’m building right now.

Save 20,000 more and buy a GT-R

[quote]Mutu wrote:
Save 20,000 more and buy a GT-R[/quote]

Hmm ya if you have money to burn…

better way would be to buy a business, then buy a nissan GT-R with the money you made from the business :wink:

Use the 50K to create residual income!!

pay off every bit of debt, plug the rest into my mortgage to pay that off faster.

pay off my student loans, and the rest would go into 3-6 months emergency fund.

probably spend about $1k on supplements here and stock up :smiley:

Pay off all my debt and save the rest. But I’m boring.

Oh wait, I would buy a playstation 3, and replace my floors too.

[quote]JohnnyBlaze wrote:
Well? What WOULD you do if you came across this money?

I’ve come into a small inheritance, of part property ownership and am going to cash in part of my share.

I want to use the money to fix myself up and set myself up for the future with some savings & investments, and possibly start a new life overseas in a different country - likely USA.[/quote]

Why do you want to leave the land down under?

But I would get my Pilots License with that and then go over to the USA and fly helicopters (jobs are more plentiful in the helicopter industry in USA I’m told).

But I’m young and don’t want to ‘set myself up’.

I want to have fun.

It depends how much you know about money.
$50k will hardly be enough to set yourself up, it will give you a headstart though. Although I guess this really depends on your idea of setting yourself up. To me it would be providing myself with an asset base that would generate an income to support my lifestyle

The stockmarket could be a good investment, if you know what your doing. Despite how scary it seems, there are fortunes to be made in bear markets, however in the current volitile state of global markets, the risk factor is fairly high.

Personally, I wouldn’t give anyone control over my money, I much rather spend time educating myself.

As you probably know, in oz 50k is merely a deposit on a property, but this is what I’d do with it. Not buy a house for myself, but an investment property. You probably won’t get any short term benefits but you’ll have yourself a nice asset in a few years.

I’ve known a few people to come across this sort of money before, and have all these plans only to blow it on material shit when it actually goes in their bank account. Don’t be one of these people.

What makes you want to start a new life in USA though? Just curious…

Well,that would be about £25,000.
I would blow £5,000 on assorted fun-
clothes,nice second-hand car,celebration meal with family and a few blowout nights out with the guys.

£20,000 would be spent on realising my dream/business plan-
A Personal Training Studio.
Gyms and Leisure Centres are a pain in the arse to run/manage.

Audi A5

Pay off all debt (car, student loans).

Have a guitar built for me in the 5-7k range.

Edit: there’s some outstanding luthiers in Australia, by the way.

pay down a large chunk of some cheap getaway land.

maybe down on a mortage on a houseboat with private docking privalages.

[quote]hardgnr wrote:
It depends how much you know about money.
$50k will hardly be enough to set yourself up, it will give you a headstart though. Although I guess this really depends on your idea of setting yourself up. To me it would be providing myself with an asset base that would generate an income to support my lifestyle

The stockmarket could be a good investment, if you know what your doing. Despite how scary it seems, there are fortunes to be made in bear markets, however in the current volitile state of global markets, the risk factor is fairly high.

Personally, I wouldn’t give anyone control over my money, I much rather spend time educating myself.

As you probably know, in oz 50k is merely a deposit on a property, but this is what I’d do with it. Not buy a house for myself, but an investment property. You probably won’t get any short term benefits but you’ll have yourself a nice asset in a few years.

I’ve known a few people to come across this sort of money before, and have all these plans only to blow it on material shit when it actually goes in their bank account. Don’t be one of these people.

What makes you want to start a new life in USA though? Just curious…[/quote]

Well yeah, it can’t set me up for life, but there must be some way to make the money work for me - some kind of investment that can produce good returns and allow me to make it multiply into bigger money.

I definitely don’t want to be one of those people whose plans go out the window when the money hits their account, and they squander it away. I’m getting too old for that shit anyway at 31 - and I need to use this wisely.

I want to start a new life in the USA because I’ve spent many years of my life here and it just hasn’t proven to be the most fruitful place where I can succeed as the person I am. I guess also I want to return to my roots - I was raised culturally in an American environment as a child because my dad was an Aussie expat living & working overseas. I had the ‘Yank’ accent and everything. I had a hard time when I came to Australia but I don’t think I ever really adjusted. Lots of great people here in Oz, beautiful place, but I guess maybe I would feel more at home and in place if I returned to the culture I was raised in.

Two chicks at the same time.

Pay off all my debt, put the rest into my emergency savings (supposed to be 3-6 months of income). After that I don’t think there would be much left.

[quote]malonetd wrote:
Two chicks at the same time.[/quote]

Damn straight. Always wanted to do that man.