What To Do With $50K?

If you were given $50,000USD (tax free) today, what would you spend it on? That’s the question on Hank’s (from My Investing Blog) mind.  So here’s my answer:

50K would be enough for me to split amongst different goals. I’d pay off a little debt (5K), build a better cash savings (5K), buy another piece of real estate (30K for down payment), and use the remaining 10K for our 2008 IRA contributions. Easy!

If you’d like to get in on Hank’s contest, there’s only a few days left so hurry over to Hank’s Holiday Handout #3! where M.I.B Is Giving Away $300! You can also answer here in the comments, but to be eligible for the contest you’ll need to visit My Investing Blog.

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Last Edited: July 21, 2014 @ 10:40 pm
About Philip Taylor

Philip Taylor, aka "PT", is a husband and father of two. He created PT Money back in 2007 to share his thoughts on money and to meet others passionate about managing their finances. All the content on this blog is original, and created or edited by PT. Read more about Philip Taylor, and be sure to connect with him on Twitter, Facebook, or view the Philip Taylor+ Google profile.

Comments

  1. What kind of real estate are you looking at right now? While there are great discounts out there I wonder if we are even close to the bottom of the real estate market.

  2. @john – I’d like to own some rental property someday. there’s plenty here and the market is pretty stable here in Dallas. we grow 4% every year regardless of what’s going on elsewhere it seems.

    as for the bottom, i think there are definitely areas in the country that went up WAY too high in years past, so yes, some of those areas will still see some more bottoming out.

  3. Thanks for the shout-out PT!

  4. Pay off the car ($22K), $18K Orange Savings, $10K selected stocks. Need better credit for real estate (which takes time anyway), so may as well get the interest in savings at the same time. Really hate car payment, it’s the only thing not paid off. Current selected stocks are beating the market…but that’s always a gamble regardless.