You get 50k dollars tax free no catch what do you plan to do with it?
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$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.
…
What does that have to do with it?
2009 Porsche Cayman S
That’s Worth the entire 50k?
No. Modern cars suck. They have subscription fees and drive by wire steering instead of a good old rack & pinion. Driving a modern car feels more like playing a video game than actually driving. Yuck!
No, I’d modify my 350Z instead: LS swap, upgraded transmission with closer gearing, airbag suspension, upgraded LSD, new headlights/taillights, touring seats, push-to-start, replace every mount and bushing with polyurethane, and update the interior with either leather or velour. And of course toss in a bangin’ stereo with Android Auto and a 2000w RMS sub. Finish it all off with a custom candy blue paint job.
Now that would be worth $50K.
Modern cars are awesome, I love all the conveniences.
Trade in my 4runner for a rivian