You get 50k dollars tax free no catch what do you plan to do with it?

  • neidu3@sh.itjust.worksMEnglish
    3·
    1 hour ago

    Turn my basement into properly approved living space, increasing the value of my house by roughly 33%. Then it’s time to renegotiate my mortgage rate.

  • JoeTheSane@lemmy.world
    1·
    33 minutes ago

    Pay off debt.

    Edit: adding context

    My wife recently lost her job to AI. She wound up finding a job that she actually likes, but at about 50% of her old salary. At the same time, I racked up some healthcare bills and we have a child trying to get out of the country for college, but of course the loan from Sallie Mae may not get to school in time for the first year, despite the fact we started the process about a year ago. About the only way we can think of to temper the loss of income is to sell the house and use the cash to pay off debt and live… somewhere.

    If we could get out of the debt we are in, my wife would be able to keep her job and we would be able to help pay for college without selling the house.

    Hopefully, we will find another way because ain’t nobody willing or able to give money away in this country lol

  • ratofkryll@sh.itjust.worksEnglish
    1·
    3 hours ago

    I’d use half to clear the debt I’ve been clawing my way out of for the last couple of years, and the other half to fix the retaining wall so I can finally build a small backyard studio with loft to use as an office/guest space. Any leftovers would go toward the construction of the studio.

  • Hapankaali@lemmy.world
    2·
    4 hours ago

    Nothing. I don’t have my own place, and could use it towards that, but I don’t want to own a house. I prefer to be flexible, and renting is less of a hassle. Don’t have a car, but if I wanted one, I already would have bought one. Don’t have any debts to pay off.

    For life-changing money, it’s too little.

    I might give away some of it.