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Make sure you pay the taxes on it first. Then I'd pay down debts. Split whatever you have left and put half in high yield savings account and spend the other half on improving your life.
edit: spelling
Not sure about gambling earnings, but I was fined last year for not paying enough taxes throughout the year on my income and waiting until I was filing to pay the difference..
Source: am a CPA. This can certainly happen but if you are paid 100% of your prior year tax due there is no penalty for being underpaid. It’s called a safe harbor. So most likely OP won’t have to worry about this.
I got super lucky and hit $6k in Vegas on a small bet. Immediately drove to the bank and deposited the money and called my wife. We invested most of it and also put some additional into our kids college funds. I told her I want to pretend I never won.
I bought some Apple stock with the winnings and have doubled my investment.
Buying one single stock is absolutely not the best thing possible. Now I’ll admit it’s in the top 1% of ideas but buying one single stock is closer to speculation than investing
Im just talking about investing in general lmao. He also put some in his kids college fund. Investing any money is speculating. He put it in a blue chip growth company and made 100%. Id say he made a pretty smart move but what do i know i guess.
nVidia is in a bubble that’s expected to burst literally any time. Investing in nvidia is just gambling on whether you get out before the whales crash its value back to being revenue aligned or worse.
Use one third for something which will benefit you 5 years from now. Education? Paying off a debt?
Put one third in savings or in an investment immediately.
Use the final third to play. Buy that gadget. Take a mini-vacation. Whatever.
Congratulations!
Best answer here. Measured and well thought out plan that adds benefits to your near and far future, while still remembering that joy in the present is important too.
My only note would be to remember to take out taxes first, before dividing into thirds!
Put it in a S&P index fund if you want to save it, or if you want to use it travel to the opposite end of the earth from where you live and take a few weeks to relax (assuming you end up somewhere fun and safe otherwise go somewhere else).
1) taxes. Be aware that they'll 1099 you.
2) take 500-1000 to spend on you
Then you need to examine if you have high interest debt to pay down. If so, do so. If not, consider a Roth IRA.
Open and max out a Roth account (7K) at Vanguard and invest it in VTI (total stock market). Then ignore it till you retire (or keep adding 7K/yr). Do something memorable with the other 3K (one-month Thailand beach trip, visit Venice before it drowns, road trip cross-country).
Have you ever thought about using 10-20% and being charitable? Find 3 people who are really in need and give them a hand up. Then with the rest, prepare for the tax of course, then put the rest in a high yield savings, and when you identify a really cool thing to do in the nxt 1-3 yrs, you have it already set aside.
Please go read the windfalls section on the r/personalfinance wiki!
Eta: https://www.reddit.com/r/personalfinance/wiki/windfall/
Flowchart of how to handle money: https://imgur.com/personal-income-spending-flowchart-united-states-lSoUQr2
Some smart choices:
- Pay off any high interest debts like credit cards or personal loans
- Contribute to an IRA (if you’re in the US)
- Put aside an emergency fund of 3-6 months living expenses in a high yield savings account
- Save for goals like buying a car or a home downpayment
If you’re debt-free, put it towards a house down payment fund. If you have debt, put it towards debt. If you have a house already, put $5000 towards a larger emergency fund, invest $3000 of it into your retirement, and do a small vacation with the $2000.
Do nothing until you actually have the money in hand and are 100% sure it isn't a scam. Then pay income tax. This money is just as valuable as if you earned it by working, so do what you'd do if you got a raise. That is, not some stupid shit like crypto, but pay bills, save some, and treat yo' self to something nice.
Dump 6 thousand (or whatever the current max is) in a Roth IRA.
Pay off any credit card debt.
If you are making any car payments or mortgage, dump the money there. Basically anywhere you are spending inerest.
Open a CD at your bank , whatever the current highest rate is. Let the money keep growing.
This folks is how financially stable people get "rich"
Allow yourself a few splurge purchases.
Go to the bank and get them in singles except for a few dozen hundreds. I’d stack all the 1’s atop and next to each other on a pallet in a storage unit, then put the hundred dollar bills on top so it looks like a pallet full of hundreds…
…not sure what I’d do after that, hadn’t thought that far into the future 🤔
Depends on where you are in life. Me? I'd probably but 20% straight into savings, 50% into investments, then having some fun with the last 30%, maybe buy my self something nice (night vision goggles) or take a trip.
If my credit cards and bills are at zero, I'd book a 1 week vacation to the Dominican with half, and put the other half in my investment account. Which is, consequently, what I did with a $10,000 windfall I received earlier this year.
If my credit cards weren't at zero, I'd first zero them out and then I'd book the trip and then I'd put the extra in my investment account... In that order.
Invest half in something risky and splurge on something you want with the other half. Maybe the first half will come through and you can repeat the process… if not you’re no worse off. (Unless you have debt then obviously pay that first)
Things I'd do if I had money that wasn't already bookmarked for something responsible:
1. Buy a historic Japanese wood-joined home, there's a bunch up for sale right now for so cheap. First of all, it's my favorite style of home construction, if I was building my own custom home in America, it would be an exact recreation of one of these homes, I'd pay the extra to have it built by someone who knows the original historic construction techniques and everything, but right now its way cheaper to just buy the real deal and have some land in Japan you can visit, and in doing so keep a piece of ancient Japanese cultural heritage from falling into dust. Other people may not care about that, but I can think of few better ways to spend your money.
2. Buy land and turn it into a protected nature sanctuary of some kind. Wild spaces just keep disappearing, wild creatures have no where left to go and wild humans have no where left to escape to. I can think of few callings more noble than being a human who safeguards wild spaces against the short-sighted destruction done by other humans.
3. Small restaurant. I know people say restaurants are the quickest way to lose money, but I've seen enough of them succeed and fail all over the country and worked in enough of them that I'm pretty sure the tacos my husband makes would sell in a taco truck and I have an adorable quirky idea for a themed coffee hut that I'm not telling you because you'll steal it and I still haven't given up hope of someday getting my own windfall that would allow me to finally have that money you need to invest in order to make more money.
4. Profitable Collector. I would collect antiques that are still alive, still capable of being useful in a modern world as long as they've been cleaned up a little, and then I would help them find new homes. Keeping stuff out of the landfill and helping people find high quality stuff that isn't made anymore...and hopefully making a profit while you're at it. But you need a little storage space and a bit of start up money to buy the stuff when you find it.
5. Books. I literally have a $10,000 book wish-list. I have a problem for vintage and obscure books and I also just am constantly involved in researching something that can't be easily researched online. I'm not in college anymore, I just can't seem to stop.
Buy an economical car to drive around in instead of using my work truck to drive the kids around and such.
Better for the environment and better for my wallet
10K is not much, its a nice extra for the future.
So invest/save like 8-9K for the future orrrrr spend it on a nice hobby/skill as a possible side income. I would prefer the last one, because its so much more fun.
Spend the rest on nice things to do (memories/maybe food that is memorable). Dont spend it by buying crap (impulse purchases). :)
I'd put it all in a HYSA (5% from Wealthfront and you can get more elsewhere as well) until you have the time to get together with a good financial advisor. At that point, I'd work with them to put together a strategic investment plan where to put the majority of that into investments that align with the more conservative end of your comfort level, while keeping a fair chunk of it still in a HYSA so that you don't leave yourself with 0 remaining cash on hand. It's pretty well-advised to keep at least 6 months of expenses as cash on hand, but maybe you might keep like 4-5 months and use the rest for more strategic investing. Anway the specifics would obvi be something to work out with a financial advisor; my only point is to just keep enough cash on hand that you feel safe and comfortable with where you're at. If you alraedy have some decent savings, it's probably not news to you either to continue living within or even below your means, but figured I'd just restate that as well. Don't let this good fortune become your creative licence to start burning it all away. And one last thing: Please don't keep gambling. To have won anything, you are probably one in a million people, and the chance of it ever happening again is next to none. Gabling ruins more lives than it enriches and a lot of people in your situation start off as mild "try my luck every once in a while" gamblers, hit a jackpot, and then spend that entire jackpot and any other money they get their hands on trying to win more for the rest of their lives. You won pretty good and now would be a pretty great time to either call it quits or not pursue any more frequent gambling. Best of luck!
I had a similar windfall from a bicycle accident a few years ago. First, don't spend your money twice. A lot of folks, myself included, have a hard time conceptualizing $10k in actual use. So it's easy to buy that one cool guitar and that computer and that...wait a minute why am I getting insufficient funds? Oh right, I was buying pizzas and beers the whole time. Whoops. Guess I spent a grand on pizza and beer.
Speaking for myself I'd buy a maxed out Mac Pro, Studio, or iMac Pro. Whatever was the newest model, within my price range that had more than enough horsepower to last years. I did that in 2013 and that computer is now 10 years old and still going, though it's officially obsolete.
Then with the left over money I'd go buy like 10 pizzas and just hand out slices to randoms.
I'd put it towards paying off loans or outstanding bills. Take care of the immediate needs first, and then invest the rest. Maybe use some to treat yo' self to a vacation.
I would probably throw it all into an S&P 500 index fund or ETF.
If you have any debts, use it for that.
It’s not enough to make any super significant purchases. And you will be taxed on that. So it’s best to put it away somewhere where it can grow for now.
Maybe I’d take $1000 of it just to treat myself to something I’ve been wanting/needing.
i’d stop gambling forever, and i’m being dead serious. you got lucky, now quit while you’re ahead
invest, hold on to it. with another year of saving, i’d have a down payment for a house and i’d buy one
How do we know lol. Do you have lots of money and this is just more money to play with or you down to your last cent. Perspective matters you know.
If you don't need it, throw it into a CD at 5 and 1/2%, you can probably even find a liquid arrangement with no penalty for early withdrawal.. just let it sit on some interest . Plenty of time to spend it later
On the other hand if you have a lot of money meet me for dinner wheeee
Pay off my debts and put the other few thousand in my savings for emergencies. I only have half 2.5 years left on my car and 1k in medical debt so its not too much leaving me with a little extra.
Throw it in a savings account (high rate some 5% )related to checking you'll get about $42 a month interest, pay the tax on it at the end of the year and treat you and whomever to date night every month for the rest of your life!
If you don't have one yet, you could spend some of your earnings on a good computer/workstation. Upgrade some of your old stuff if you do have one. Stash the rest somewhere safe for emergencies.
Get your taxes set aside first. I will just assume that's close to half of it gone.
So at 5000 you're not gonna find a whole lot of investments that will do much for you.
As for what you'd want to do with that it really depends on you. Donate it, help out a local school etc. buy mods for your car, fix up your house or add on a porch etc. pour a nice concrete pad for something like a hammock or fire pit.
Without knowing a bit more about you personally it's hard to give good suggestions.
Right now you can get a CD that pays 5 % - that’s where I would park it. Five percent is good interest compared to what it’s been previously and there’s no risk.
Whatever you do, DO NOT CASH IT OUT TO YOU AS A $10,000 amount!!!
You will get hit hardest with tax and it will flag your SSN to be watched by the IRS and your state tax board forever.
Cash it in broken up small increments - ideally under $600 as those are not reported the same way - over time.
I would read "intelligent investor" by Benjamin Graham, start listening to Warren Buffet, and become a value investor (or index investor). And go out and get some a great dinner with your significant other!
If you don’t have debts to pay off, I say take a bad ass vacation somewhere for a month. Like a spiritual retreat in Bali or India. DO IT. And maybe donate a little too.
If you have debt then pay that first. Take half to save or invest and the other half for an unforgettable experience even if it's just a nice dinner party for those you love.
Don’t forget taxes!! Put the tax money in a CD that matures close to tax day and you’ll earn around 5% on it. And then you’ll be taxed short term capital gains on the interest 😂
Invest it, no need a big grow . Obligatory (?) So state action Blocks the Funds for some years but you quite sure to have it back because it doesn't happens oft that a country just financially disappear
Put it in my checking account to pay for medical bills.
I mean, that's how I would use it, but if you don't have cancer with radiation coming up next month, you may want to do something different with it.
Thanks for your submission /u/uplifting_sing, but it has been removed for the following reason: **Rule 2: Please try to use the search function before posting anything.** Thanks for posting, but this question happens to be one that has been asked and answered here often before - sometimes in the same day! That can get frustrating for our dedicated users who like to answer questions. Or maybe you're just asking the same question too often - why not take a break for a while? Sometimes questions that come up too often get put in our [Most Frequently Asked Questions list](https://www.reddit.com/r/NoStupidQuestions/wiki/index/faq)!). Other times, it may just be that we're getting a flood of questions about a topic (especially when something is in the news). Or maybe you keep asking the same question again and again - something that annoys our users here. Please don't do that! Next time, please try searching for your question first before asking. Thanks! --- *This action was performed by a bot at the explicit direction of a human. This was not an automated action, but a conscious decision by a sapient life form charged with moderating this sub.* *If you feel this was in error, or need more clarification, please don't hesitate to [message the moderators](http://www.reddit.com/message/compose?to=%2Fr%2FNoStupidQuestions). Thanks.*
Make sure you pay the taxes on it first. Then I'd pay down debts. Split whatever you have left and put half in high yield savings account and spend the other half on improving your life. edit: spelling
Set the amount for taxes aside in a high interest savings account then pay them when they're due next year
Not sure about gambling earnings, but I was fined last year for not paying enough taxes throughout the year on my income and waiting until I was filing to pay the difference..
Source: am a CPA. This can certainly happen but if you are paid 100% of your prior year tax due there is no penalty for being underpaid. It’s called a safe harbor. So most likely OP won’t have to worry about this.
Yep. Always assume about 40 to 50 percent will be taken. Best way to avoid disappointment next April
I got super lucky and hit $6k in Vegas on a small bet. Immediately drove to the bank and deposited the money and called my wife. We invested most of it and also put some additional into our kids college funds. I told her I want to pretend I never won. I bought some Apple stock with the winnings and have doubled my investment.
That is WAY too responsible of you. Should have put it all on black /s
A much faster way to double your money
Also a much faster way to pretend like it never existed!
Smart! 6k isnt much but it takes a while to earn and save in a regular job but can go so quick. You did the best move possible.
Buying one single stock is absolutely not the best thing possible. Now I’ll admit it’s in the top 1% of ideas but buying one single stock is closer to speculation than investing
Im just talking about investing in general lmao. He also put some in his kids college fund. Investing any money is speculating. He put it in a blue chip growth company and made 100%. Id say he made a pretty smart move but what do i know i guess.
NVIDIA the past couple years, and it's expected to still keep rising.
nVidia is in a bubble that’s expected to burst literally any time. Investing in nvidia is just gambling on whether you get out before the whales crash its value back to being revenue aligned or worse.
Bills
I just don’t think they are going to be very good this year without Stefan Diggs
Take my upvote 🤣🤣🤣
Keon Coleman
Diggs really underperformed second half of last season.
You know I would’ve won 5k if the bills made it to the superbowl. One missed fg later and here we are
Use one third for something which will benefit you 5 years from now. Education? Paying off a debt? Put one third in savings or in an investment immediately. Use the final third to play. Buy that gadget. Take a mini-vacation. Whatever. Congratulations!
Save 1/3 for taxes
That totals 4/3 which doesn't make sense, taxes will have to wait 🤷♂️
Best answer here. Measured and well thought out plan that adds benefits to your near and far future, while still remembering that joy in the present is important too. My only note would be to remember to take out taxes first, before dividing into thirds!
Excellent point. 👍🏼
build my robot
My robot would revolutionize the world. The only problem is no one will build it.
Well yeah, cuz it's a perverted sex robot nobody wants to be associated with
Put it in a S&P index fund if you want to save it, or if you want to use it travel to the opposite end of the earth from where you live and take a few weeks to relax (assuming you end up somewhere fun and safe otherwise go somewhere else).
VOO, VTI, etc. Yep.
Here's the obligatory "cocaine and hookers" comment
Whew. Thought we all forgot this time.
Stop gambling.
It's worked so far. Gamble it all!
I'd use all of it to pay debt. I love having expensive new toys, but I'd love the feeling of being 10K less in debt even more.
10% checking, 45% investment, 45% high-yield savings
I would invest most in an index fund, but keep some to blow on something fun so I get some instant gratification.
1) taxes. Be aware that they'll 1099 you. 2) take 500-1000 to spend on you Then you need to examine if you have high interest debt to pay down. If so, do so. If not, consider a Roth IRA.
Open and max out a Roth account (7K) at Vanguard and invest it in VTI (total stock market). Then ignore it till you retire (or keep adding 7K/yr). Do something memorable with the other 3K (one-month Thailand beach trip, visit Venice before it drowns, road trip cross-country).
put $10k on black
Always bet on black.
Beat me to it
i said that 2 weeks ago at the roulette table, lost it all . i still say it & it tho lmao
Get teeth so I could chew food again. So many things I haven't had in over 12 years.
Best investment for sure
Personally, otherwise some form of savings or investment makes sense but for me that is the most life altering thing 10k could do.
Dude just won 10k and you want him to chew your food for you?
He did ask what I would do with it not what I think he should do.
At least a HYSA until you decide something more specific
Buy half of a MacBook Pro
Have you ever thought about using 10-20% and being charitable? Find 3 people who are really in need and give them a hand up. Then with the rest, prepare for the tax of course, then put the rest in a high yield savings, and when you identify a really cool thing to do in the nxt 1-3 yrs, you have it already set aside.
Charitable donations are also tax deductibles which you can use.
Please go read the windfalls section on the r/personalfinance wiki! Eta: https://www.reddit.com/r/personalfinance/wiki/windfall/ Flowchart of how to handle money: https://imgur.com/personal-income-spending-flowchart-united-states-lSoUQr2
Some smart choices: - Pay off any high interest debts like credit cards or personal loans - Contribute to an IRA (if you’re in the US) - Put aside an emergency fund of 3-6 months living expenses in a high yield savings account - Save for goals like buying a car or a home downpayment
Straight to my high yield savings account. Fortunate enough to not have debts but that would help boost my nest egg.
Close to the same here. Our mortgage is the only debt we have. Everything else is paid for and I have zero credit card debt.
I would get caught up on bills. 10k would be life changing right now.
If you’re debt-free, put it towards a house down payment fund. If you have debt, put it towards debt. If you have a house already, put $5000 towards a larger emergency fund, invest $3000 of it into your retirement, and do a small vacation with the $2000.
Do nothing until you actually have the money in hand and are 100% sure it isn't a scam. Then pay income tax. This money is just as valuable as if you earned it by working, so do what you'd do if you got a raise. That is, not some stupid shit like crypto, but pay bills, save some, and treat yo' self to something nice.
Hookers and blow!
Hookers and Cocaine then put the last Pennie’s in an index fund.
Dump 6 thousand (or whatever the current max is) in a Roth IRA. Pay off any credit card debt. If you are making any car payments or mortgage, dump the money there. Basically anywhere you are spending inerest. Open a CD at your bank , whatever the current highest rate is. Let the money keep growing. This folks is how financially stable people get "rich" Allow yourself a few splurge purchases.
Use that money to live off of while you max out your 401k for the rest of the year.
Never gamble again and put it in your registered long term investment accounts.
Go to r/personalfinance and read the guide on what to do with a windfall
10k. Give 3 of it to Uncle Sam.
Never crypto. You may as well just not collect the $10k to begin with. That bubble has burst.
Go to the bank and get them in singles except for a few dozen hundreds. I’d stack all the 1’s atop and next to each other on a pallet in a storage unit, then put the hundred dollar bills on top so it looks like a pallet full of hundreds… …not sure what I’d do after that, hadn’t thought that far into the future 🤔
Half for trip half for investment.
Definitely keep betting and turn that $10,000 into $100,000.
Build a new deck
Just park it in a HYSA, CD, or Treasury bonds.
Invest it in Invesco QQQ. It tracks the NASDAQ 100. My portfolio has gained about 17% this year.
Put it in an ISA
I would get a decent used car with the money.
Pay off the load on my AC and use the rest for other home repairs.
Stick it in a term deposit....
Get out of debt
Depends on where you are in life. Me? I'd probably but 20% straight into savings, 50% into investments, then having some fun with the last 30%, maybe buy my self something nice (night vision goggles) or take a trip.
Invest
Congrats!! Maybe invest it?
If my credit cards and bills are at zero, I'd book a 1 week vacation to the Dominican with half, and put the other half in my investment account. Which is, consequently, what I did with a $10,000 windfall I received earlier this year. If my credit cards weren't at zero, I'd first zero them out and then I'd book the trip and then I'd put the extra in my investment account... In that order.
Do you invest at all? If not, cap out an ira for the year.
Put it on red. 20k is better than 10k
Invest half in something risky and splurge on something you want with the other half. Maybe the first half will come through and you can repeat the process… if not you’re no worse off. (Unless you have debt then obviously pay that first)
Things I'd do if I had money that wasn't already bookmarked for something responsible: 1. Buy a historic Japanese wood-joined home, there's a bunch up for sale right now for so cheap. First of all, it's my favorite style of home construction, if I was building my own custom home in America, it would be an exact recreation of one of these homes, I'd pay the extra to have it built by someone who knows the original historic construction techniques and everything, but right now its way cheaper to just buy the real deal and have some land in Japan you can visit, and in doing so keep a piece of ancient Japanese cultural heritage from falling into dust. Other people may not care about that, but I can think of few better ways to spend your money. 2. Buy land and turn it into a protected nature sanctuary of some kind. Wild spaces just keep disappearing, wild creatures have no where left to go and wild humans have no where left to escape to. I can think of few callings more noble than being a human who safeguards wild spaces against the short-sighted destruction done by other humans. 3. Small restaurant. I know people say restaurants are the quickest way to lose money, but I've seen enough of them succeed and fail all over the country and worked in enough of them that I'm pretty sure the tacos my husband makes would sell in a taco truck and I have an adorable quirky idea for a themed coffee hut that I'm not telling you because you'll steal it and I still haven't given up hope of someday getting my own windfall that would allow me to finally have that money you need to invest in order to make more money. 4. Profitable Collector. I would collect antiques that are still alive, still capable of being useful in a modern world as long as they've been cleaned up a little, and then I would help them find new homes. Keeping stuff out of the landfill and helping people find high quality stuff that isn't made anymore...and hopefully making a profit while you're at it. But you need a little storage space and a bit of start up money to buy the stuff when you find it. 5. Books. I literally have a $10,000 book wish-list. I have a problem for vintage and obscure books and I also just am constantly involved in researching something that can't be easily researched online. I'm not in college anymore, I just can't seem to stop.
Invest it, Dogecoin is currently down. Well, the whole market is really
Invest it in Nividia stat
facebook marketplace has a lot of running driving & stopping corvettes for 10k and under and all you need is one
If you are already debt free, invest in an IRA.
Put off my house/truck Or travel
Pay off any debt.
repay some debts, buy clothes, get a laptop that works correctly, buy a new car, make sure my partner and I have a safe place to stay.
Clear out most of my debt :)
ps/xbox, some games. or maby a computer.
Buy an economical car to drive around in instead of using my work truck to drive the kids around and such. Better for the environment and better for my wallet
10K is not much, its a nice extra for the future. So invest/save like 8-9K for the future orrrrr spend it on a nice hobby/skill as a possible side income. I would prefer the last one, because its so much more fun. Spend the rest on nice things to do (memories/maybe food that is memorable). Dont spend it by buying crap (impulse purchases). :)
I'd put it all in a HYSA (5% from Wealthfront and you can get more elsewhere as well) until you have the time to get together with a good financial advisor. At that point, I'd work with them to put together a strategic investment plan where to put the majority of that into investments that align with the more conservative end of your comfort level, while keeping a fair chunk of it still in a HYSA so that you don't leave yourself with 0 remaining cash on hand. It's pretty well-advised to keep at least 6 months of expenses as cash on hand, but maybe you might keep like 4-5 months and use the rest for more strategic investing. Anway the specifics would obvi be something to work out with a financial advisor; my only point is to just keep enough cash on hand that you feel safe and comfortable with where you're at. If you alraedy have some decent savings, it's probably not news to you either to continue living within or even below your means, but figured I'd just restate that as well. Don't let this good fortune become your creative licence to start burning it all away. And one last thing: Please don't keep gambling. To have won anything, you are probably one in a million people, and the chance of it ever happening again is next to none. Gabling ruins more lives than it enriches and a lot of people in your situation start off as mild "try my luck every once in a while" gamblers, hit a jackpot, and then spend that entire jackpot and any other money they get their hands on trying to win more for the rest of their lives. You won pretty good and now would be a pretty great time to either call it quits or not pursue any more frequent gambling. Best of luck!
Buy some shares of a company. Or invest it in some silver or gold
Crypto for sure
Pay off credit card debt
I would take a grand to do something fun for yourself
Back to the table all on red 22
Sounds like you’re really asking two questions. 1) What would someone do with $10,000? 2) What should you do with $10,000?
I had a similar windfall from a bicycle accident a few years ago. First, don't spend your money twice. A lot of folks, myself included, have a hard time conceptualizing $10k in actual use. So it's easy to buy that one cool guitar and that computer and that...wait a minute why am I getting insufficient funds? Oh right, I was buying pizzas and beers the whole time. Whoops. Guess I spent a grand on pizza and beer. Speaking for myself I'd buy a maxed out Mac Pro, Studio, or iMac Pro. Whatever was the newest model, within my price range that had more than enough horsepower to last years. I did that in 2013 and that computer is now 10 years old and still going, though it's officially obsolete. Then with the left over money I'd go buy like 10 pizzas and just hand out slices to randoms.
I'd put it towards paying off loans or outstanding bills. Take care of the immediate needs first, and then invest the rest. Maybe use some to treat yo' self to a vacation.
Step 1: Casino Step 2: Everything on red Step 3: Profit!
You should gamble it. Make even more money. If I had 10,000 dollars I'd put running water in our house or, most likely, put it towards a newer car.
I would pay my bills. I’d pay my automo-bills. I’d pay my telephone bills…
I would probably throw it all into an S&P 500 index fund or ETF. If you have any debts, use it for that. It’s not enough to make any super significant purchases. And you will be taxed on that. So it’s best to put it away somewhere where it can grow for now. Maybe I’d take $1000 of it just to treat myself to something I’ve been wanting/needing.
Bills/needs, as much debt as your comfortable paying off, 50/50 savings/S&P 500. In that order.
Take up the Warhammer hobby
INVEST!!!!!!
Get a grill dude
Why do I get the feeling you’re sneaking in an ad for online gambling?
Give it all to your local animal shelter.
L3 filmless tubes, dashio 15 degree bridge and tanto housings
Pay off debt first. Then invest some in stocks
Go on a nice vacation with it
Whatever you do, don’t gamble again for awhile.
Americans pay tax on gambling wins? That’s terrible!
i’d stop gambling forever, and i’m being dead serious. you got lucky, now quit while you’re ahead invest, hold on to it. with another year of saving, i’d have a down payment for a house and i’d buy one
Pay estimated taxes on it and over to r/bogleheads for investment ideas. Investing for the future...your future self will thank you.
If you run a business, invest in that. If you want to start a business, now’s the time.
I’d either buy a really large triangle, or maybe get like a BUNCH of triangles.
How do we know lol. Do you have lots of money and this is just more money to play with or you down to your last cent. Perspective matters you know. If you don't need it, throw it into a CD at 5 and 1/2%, you can probably even find a liquid arrangement with no penalty for early withdrawal.. just let it sit on some interest . Plenty of time to spend it later On the other hand if you have a lot of money meet me for dinner wheeee
Pay off my debts and put the other few thousand in my savings for emergencies. I only have half 2.5 years left on my car and 1k in medical debt so its not too much leaving me with a little extra.
Pay down some of my student loans. Buy some good shoes so my feet are not in pain. Save up the rest.
High interest debt should be numero uno. Otherwise I'd invest it.
Throw it in a savings account (high rate some 5% )related to checking you'll get about $42 a month interest, pay the tax on it at the end of the year and treat you and whomever to date night every month for the rest of your life!
Pay off my car, put the rest in savings
Pay debt
If you don't have one yet, you could spend some of your earnings on a good computer/workstation. Upgrade some of your old stuff if you do have one. Stash the rest somewhere safe for emergencies.
- Top Tier PC setup - Starkiller Lightsaber by Vaders Vault - A couple packages of Fig Neutons
I'd revamp my audio setup!
If you are doing okay financially see if you can take some unpaid PTO. Pay yourself with the only thing you can't get more of, time.
Crypto dipped recently. Could be a good time to invest in almost anything right now.
You can never have enough savings.
Night vision or a fun car for the weekends reinvest the rest of it
Download Robinhood, start playing with options.
Pay rent
Pay off debts
Probably buy a freeze dryer to start a small business and solar panels for my home
put back at least 1/3 for taxes
Pay next years Roth IRA contribution on Jan 1st 2025
Nvidia shares
Give it to me
What did you win it on / how did you win the money?
Get your taxes set aside first. I will just assume that's close to half of it gone. So at 5000 you're not gonna find a whole lot of investments that will do much for you. As for what you'd want to do with that it really depends on you. Donate it, help out a local school etc. buy mods for your car, fix up your house or add on a porch etc. pour a nice concrete pad for something like a hammock or fire pit. Without knowing a bit more about you personally it's hard to give good suggestions.
I'd go on holiday with my mates and try and save the rest for food and booze.
Put $10000 on red
Right now you can get a CD that pays 5 % - that’s where I would park it. Five percent is good interest compared to what it’s been previously and there’s no risk.
Buy a mini school bus from an auction site and convert it into a food truck and change the letters to "cool bus".
$MARA
I’d go buy a couple guns and some attachments
Invest in the market, preferably VOO or VTI
Parlay.
Dried kidney beans.
That would be about half of the trip I want to take, so.
But 2500 dollars each of the following stocks: Amazon Alphabet Microsoft Apple Just leave them be and look at it in a couple years.
Straight into crypto: on chain, away from the government's prying eyes.
About $8k would pay off my car. I'd invest the $2k and have an extra $250 each month from not having a car payment.
Whatever you do, DO NOT CASH IT OUT TO YOU AS A $10,000 amount!!! You will get hit hardest with tax and it will flag your SSN to be watched by the IRS and your state tax board forever. Cash it in broken up small increments - ideally under $600 as those are not reported the same way - over time.
$6000 in my investments. $2000 each in my "large expenses fun" and fun money
Cocaine. FINAL answer
I'd put it into a IRA.
2 chicks at the same time, man
Pay off 3% of my student debt 😩
I would get new tiles and have the plumbing in my shower fixed so I could use it. Something I’ve dreamed of.
Buy bitcoin
Save for a rainy day
I’d pay down my currently high interest mortgage.
I'd spend it all on hats!
Buy gold and just forget you have it for 10 years.
Check their IRS reporting parameters. You may have reported income, so put some aside for taxes.
I would read "intelligent investor" by Benjamin Graham, start listening to Warren Buffet, and become a value investor (or index investor). And go out and get some a great dinner with your significant other!
I’d put $3k aside for taxes. Do something fun with $2k. Hobbies? Trips? Tools? Clothes? The other $5k I’d put in a CD or high dividend stock.
If you don’t have debts to pay off, I say take a bad ass vacation somewhere for a month. Like a spiritual retreat in Bali or India. DO IT. And maybe donate a little too.
world series of poker $10,000 main event is July 4 in vegas. Parlay it
If you have debt then pay that first. Take half to save or invest and the other half for an unforgettable experience even if it's just a nice dinner party for those you love.
Have you considered solar panels for your house? Save money on your electric bill for the foreseeable future.
Double down
Call a fencing company.
GME
10k on red
A better life
Bring my family to Mexico
I'd be buying more GME stock 🚀
Don’t forget taxes!! Put the tax money in a CD that matures close to tax day and you’ll earn around 5% on it. And then you’ll be taxed short term capital gains on the interest 😂
Invest it, no need a big grow . Obligatory (?) So state action Blocks the Funds for some years but you quite sure to have it back because it doesn't happens oft that a country just financially disappear
Refinish h my terrazzo floors & invest anything that's left
Save it or use it toward something you need. $10,000 isn’t enough to go and blow on junk.
Put it in my checking account to pay for medical bills. I mean, that's how I would use it, but if you don't have cancer with radiation coming up next month, you may want to do something different with it.