$20,000 worth of low-fee S&P 500 index fund
Like 15 abortions. God I love abortions.
I do not understand that, in my country abortions are free
(ok, not actually free. You need to pay 15 euro for the blood test, a 30 euro tax, 2 euro for the hospital parking fee and around 10 euro to buy the painkiller or antibiotics after the operation)
Dude, I wish I lived in a civilized country. My cancer treatment would have cost somewhere in the range of $5 million without insurance. Healthcare is a human right
Dude, I just got the post-exposure rabies vaccine. Was four trips to the ER at $125 USD co-pay a pop… however, without insurance, I learned it can be as much as like $15k if you don’t qualify for assistance and/or Medicaid.
We really need to take to the streets.
oooOOohh look at mr big spender here with their fancy thousand dollar abortions.
Would make the world a better place than any other kind of charity, tbh.
can I just throw it on my mortgage?
Technically you’re using it to buy a house, so I guess that qualifies as spending it?
Seriously this. Like imagine taking a chunk out of principal like that, you would save thousands in interest!!!
I actually did do that, the advantage of having rich grandparents. It’s amazing how once you get a bit of money the system just throws advantages at you. Capitalism really is broken.
Because I was able to get together enough money to be able to buy a house and put down quite a lot in collateral, my mortgage repayments aren’t very much, considerably less than I was paying monthly in rent, even when you take into account that the rent included water bills.
Same, but substitute rich grand parent with being hit by a car in suit happy South Florida.
Debt.
Same that would pay off all my debt.
It would cover about 20% of mine
Wouldn’t cover the rest of my house, but it could knock out everything else and that would make a world of difference.
Out of curiosity, how low would that dollar amount have to be for you to opt to spend it on something else? Would it still go to debt if it was only 1,000 or something?
It’s probably highly specific to how much money somebody makes. If my monthly paycheck is $2000, and you give me $1000, I would use that to get ahead by a half a month. If I make $10k a month and you give me $1000, getting ahead by a tenth of a month won’t do much. So hookers and blow all day.
It’d have to be less than a hundred for me personally. A grand less debt? That’s a nice feeling
I guess if it was a few hundred, I would just put it in the bank with the rest of my money where it would go towards food, bills, and any other day to day expenses. Probably anything over $1000 would go directly towards debt.
EDIT: I forgot about the by the end of the day rule. I can’t just save it for later. We’d do a Sam’s club run and put the rest towards a bill.
I think 1000 or 2000 for me. I know it’s optimal to put it on my mortgage but that’s an amount I would use the excuse of “having to spend it” to spend it on myself. 20k in cleared debt is like 1.4k yearly expense reduced which really moves the needle. If you pay off 1k a month you’re effectively increasing the payoff rate by 12%.
It would either go to the principal my mortgage or to Procter and gamble stock
Edit, actually right now I’d buy the rocket lab dip with half, then the other half to mortgage principal
Mortgage, no question.
Stocks
Easy. Second hand electric car with a big range.
Hookers & blow!
I’ll buy $20,000 of gold. :3
i ran the numbers, and i was surprised to find that $20K would get you about 5 gold coins.
How big are the coins?
*Diameter:1.287 inches (32.70 mm) for 1 ounce coin which is a little less than $5k
You can add value by minting them with a Labubu relief.
What if I just melted them into some dubai chocolate and ate it instead? /s
Totally could, but you’d basically just be throwing it in the trash. Big sad, much depress.
Hammering it into gold leaf and covering cheap chocolate bars with it and you could probably at least double your money.
.2 oz troy of gold makes just over a half square meter.
:O Labubu chocolate bars would add at least 20% more.
about 24 loonies if you know what a Canadian dollar coin looks like.
otherwise, it’s about 18 us dollar coins.
I’m not familiar with either.
Another currency.
How is this even a question. If you have a mortgage you pay off your mortgage, or at least as much as they let you, anything else would go on a new car.
I would like to get my house renovated but that’s going to take more than a day.
Imo this question is pointed at young adults or teenagers because older adults are just going to trade liquidity for some other form or pay off some huge loan/bill.
I also feel like the question really underestimates the difficulty of completing large transactions in a single day.
Even buying a car often takes two or three days because there’s always some reason you can’t just drive away with the vehicle. You always agree to buy the car, and signed a bunch of paperwork to that affect, and then you have to come back a few days later to actually get it, whether they do some sort of grand reveal with a cloth, as if you hadn’t already seen it, and didn’t already know what it was.
Actually completing the transaction within 24 hours, especially if you weren’t previously aware that you would be doing this, would be quite difficult.
Pay off my car loans.
Probably use it to pay off debts so my monthly stability is massively increased.
I’ve learned reading these comments that way too many people don’t know just how little 20k is.
It’s not much money, but in Russia I could live decently for ~3.5 years with that kind of money. :)
I could spend 20k in one cart full of items at my local computer store.
Paying off my credit card and sending the rest to my local LGBTQ+ support/advocacy group.
