What to do with 50K

E

elface

250+ Posts
Just sold my house and now have 50K to use.

I have funds for down payment and costs for new house--in this uncertain time, what do I do with 50K? I have no debt and credit score is well above 800, so I don't need to repair debt.
 
you mean besides strippers and blow? If you aren't too excited about buying real estate at this time, and who could blame you, I'd be looking at buying a combination of gold, guns, and ammo. But that's just me.
 
You should use about half of it on women and whiskey. The rest, you should waste.

hookem.gif
 
Buy stocks while they're cheap. it may take 10 years, but the market will come back up, eventually, and then you'll make all kinds of money.

Or, you could just give a gift to a poor school teacher who could use the extra $$ to buy a house
smile.gif
 
Just walked by the CNBC, gold expected to be over $1000 by the end of the year, and over $2000 by the end of 2010.
 
Dear Sir,

Confidential Business Proposal

Having consulted with my colleagues and based on the information gathered from the Nigerian Chambers Of Commerce And Industry, I have the privilege to request your assistance to transfer the sum of $47,500,000.00 (forty seven million, five hundred thousand United States dollars) into your accounts. The above sum resulted from an over-invoiced contract, executed, commissioned and paid for about five years (5) ago by a foreign contractor. This action was however intentional and since then the fund has been in a suspense account at The Central Bank Of Nigeria Apex Bank.

We are now ready to transfer the fund overseas and that is where you come in. It is important to inform you that as civil servants, we are forbidden to operate a foreign account; that is why we require your assistance. The total sum will be shared as follows: 70% for us, 25% for you and 5% for local and international expenses incidental to the transfer.

The transfer is risk free on both sides. I am an accountant with the Nigerian National Petroleum Corporation (NNPC). If you find this proposal acceptable, we shall require the following documents:

(a) your banker's name, telephone, account and fax numbers.

(b) your private telephone and fax numbers —for confidentiality and easy communication.

(c) your letter-headed paper stamped and signed.

Alternatively we will furnish you with the text of what to type into your letter-headed paper, along with a breakdown explaining, comprehensively what we require of you. The business will take us thirty (30) working days to accomplish.

Please reply urgently.

Best regards

Howgul Abul Arhu
 
That's happened, but the chicks had stamina and it was just like that Wild Seeds song but multiplied.
 
BTW, I'm actually serious about the guns and gold. Gold is historically a good place to hold assets when the economy is uncertain, and quality guns go up in value.

Another idea would be to put it into a duplex, build equity and live free at the same time.

Don't buy a car. Unless it's a fairly used car, and you aren't going to spend big money on it, or if it's a classic...keeping in mind that million dollar collectibles go down in value in the short term when there aren't new millionaires being created every day. Buying a depreciating asset with hard earned equity dough is really not a good idea. Selling stock to buy a car is even dumber.
 
Put it in a savings account (obviously at an FDIC insured institution) and ride this ***** out.
 
I am far from a tax consultant, but I would read up on the tax implications associated with the proceeds from the sale of the house. I believe they are fairly erroneous unless you use the proceeds to buy another house within 9 months or a year.

(I apologize for the serious post, but figured at least one was warranted)
 
Let me borrow $50K, but only give me $25K now. That way you will owe me $25K and I will owe you $25K and we will be even.
 
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