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Forum -> Household Management -> Finances
What would you do with $50,000?
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DVOM




 
 
    
 

Post Sun, Dec 09 2018, 6:30 am
Ohhhhh! Op, I'm so happy for you! That's a ton of money! I would: a)spend 10k on very necessary home renovations. We have been saving very carefully since buying our house...adding 10 thou to what we already have would be amazing! B) 10k on a trip overseas to visit my in laws. It's a lot of money to blow on a vacation, but in 11 years of marriage my in laws have met my kids, their grandchildren, only once. It would mean so much to me and my husband. C)30k in long term savings for my boys weddings.
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SuperWify




 
 
    
 

Post Sun, Dec 09 2018, 6:33 am
DVOM wrote:
Ohhhhh! Op, I'm so happy for you! That's a ton of money! I would: a)spend 10k on very necessary home renovations. We have been saving very carefully since buying our house...adding 10 thou to what we already have would be amazing! B) 10k on a trip overseas to visit my in laws. It's a lot of money to blow on a vacation, but in 11 years of marriage my in laws have met my kids, their grandchildren, only once. It would mean so much to me and my husband. C)30k in long term savings for my boys weddings.


Ouch that’s really tough! I guess your inlaws can’t fly here?
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DVOM




 
 
    
 

Post Sun, Dec 09 2018, 7:00 am
SuperWify wrote:
Ouch that’s really tough! I guess your inlaws can’t fly here?


Unfortunately my father in law is in poor health, and my mother in law would not travel without him. If they had the means for first class travel it might be different, but they don't. We hope to make my oldest son's bar mitzvah in Israel...but that's not for another three years Confused
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33055




 
 
    
 

Post Sun, Dec 09 2018, 7:49 am
I would give some of it to help a friend and the rest I would save.
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amother
Emerald


 

Post Sun, Dec 09 2018, 8:18 am
part id invest in a second carerer, which in the ong run would enable me to have more income /month.

another part id save for upcoming barmizvas and chassenes
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Amelia Bedelia




 
 
    
 

Post Sun, Dec 09 2018, 8:26 am
mommy3b2c wrote:
Do you mean $50,000 or $500,000?

This. $50,000 is not enough money for anyone to stop working.
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CatLady




 
 
    
 

Post Sun, Dec 09 2018, 8:59 am
It really depends on the stage of life. I'm on the verge of retiring, so I might splurge on a cruise and stash the remainder in my retirement fund.
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amother
Seafoam


 

Post Sun, Dec 09 2018, 9:21 am
DVOM wrote:
Ohhhhh! Op, I'm so happy for you! That's a ton of money! I would: a)spend 10k on very necessary home renovations. We have been saving very carefully since buying our house...adding 10 thou to what we already have would be amazing! B) 10k on a trip overseas to visit my in laws. It's a lot of money to blow on a vacation, but in 11 years of marriage my in laws have met my kids, their grandchildren, only once. It would mean so much to me and my husband. C)30k in long term savings for my boys weddings.


Similar situation. My IL live overseas. In the past 10 years we’ve seen them twice. They came for a visit 5 years ago and came recently for my sons Bar Mitzva (first grandchild).
If I had $20,000 I would take my family and go visit my IL.

10,000 for summer camp for all my kids. That includes day camp and overnight. We both have year round jobs so all kids need to be in camp, even though we don’t make 10,000 during the summer months.

20,000 I would put away for retirement.
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Ruchel




 
 
    
 

Post Sun, Dec 09 2018, 9:27 am
save for weddings and yeshiva/sem. You can do so many things with that - whatever remains after, for retirement
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Rubber Ducky




 
 
    
 

Post Sun, Dec 09 2018, 9:32 am
I'd invest much of it into my business, some in home upkeep/repairs, and save some for my son's wedding (we just need the right girl Smile ).
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amother
Amethyst


 

Post Sun, Dec 09 2018, 10:18 am
Make a debt in my debt. Sad
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crust




 
 
    
 

Post Sun, Dec 09 2018, 10:27 am
Continue living paycheck to paycheck.

Save it for major expenses like home renovations or children's weddings.

If I wouldn't own a house yet I would buy one.
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amother
Brunette


 

Post Sun, Dec 09 2018, 10:41 am
Amelia Bedelia wrote:
This. $50,000 is not enough money for anyone to stop working.

nor is 500,000. not for frum people at least.
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boysrus




 
 
    
 

Post Sun, Dec 09 2018, 4:10 pm
Rubber Ducky wrote:
I'd invest much of it into my business, some in home upkeep/repairs, and save some for my son's wedding (we just need the right girl Smile ).


how old is your son? and what kind of girl is he looking for? is he in college/learning? Smile
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amother
Lilac


 

Post Sun, Dec 09 2018, 5:39 pm
Am I the only one thinking that $50,000 is almost nothing?
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amother
cornflower


 

Post Sun, Dec 09 2018, 5:53 pm
amother wrote:
Am I the only one thinking that $50,000 is almost nothing?


Perhaps for you. For me, it would offer me a real chance to save towards a house.
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allthingsblue




 
 
    
 

Post Sun, Dec 09 2018, 5:56 pm
amother wrote:
Am I the only one thinking that $50,000 is almost nothing?


If you're a multimillionaire, yes.
But for someone who budgets, saves, and who values every dollar, $50,000 is definitely something!
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amother
Ecru


 

Post Sun, Dec 09 2018, 6:20 pm
amother wrote:
Am I the only one thinking that $50,000 is almost nothing?


I agree, but it’s a nice surprise so looking for ideas how to make the most of it.
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OutATowner




 
 
    
 

Post Sun, Dec 09 2018, 9:38 pm
Pay off my van so I'm not paying so much in interest.
Put some towards my degree to get a better paying job.
The rest in savings for unexpected expenses.
May it bring you mazel and bracha!
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jmom1




 
 
    
 

Post Sun, Dec 09 2018, 10:20 pm
Invest it! Speak with someone who can direct you to a safe and secure investment that can increase that amount over the years. Don’t just stick it in a savings account to sit.
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