+133

$50,000 is simultaneously a lot of money and not very much money. amirite?

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Shiny244s avatar Money & Economics
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The key here is that 50g's has the potential to turn in to very much money

Student debt put that into perspective for me real quick.

Depending on how much you pay in rent, that could be "free rent" for 2-4 years. And 2-4 years can go by soo quickly.

Someone just figured out what context is

capamericasurs avatar capamericasur Yeah You Are +6Reply

How many people have actually had $50K? Not assets or retirement funds, but actually cash in the bank or in hand? I'm 67 and the most money I ever had in savings was $17K back in the 80s.

fragsworths avatar fragsworth Yeah You Are +6Reply
@fragsworth How many people have actually had $50K? Not assets or retirement funds, but actually cash in the bank or in hand?...

I mean, most people who want to buy a house these days are gonna need around $50k cash. Average SFH in the US is around $300k and you need 20% to be competitive in this market. And that's if you don't have to cover an appraisal gap, fix the place up or worry about furnishing jt. You could do it with less, but $50k ain't near what it used to be. I waited till I had $100k before buying in that price range cause I wanted to make sure I could afford the house, closing costs, furnishing and still have a healthy emergency fund.

@fragsworth How many people have actually had $50K? Not assets or retirement funds, but actually cash in the bank or in hand?...

Geez buddy, thats rough. I sold my house last year, and the next house was cheaper so I ended up with $150k in the bank in cash.

Cheytuflyas avatar Cheytuflya Yeah You Are +8Reply
@fragsworth How many people have actually had $50K? Not assets or retirement funds, but actually cash in the bank or in hand?...

I had 60k in my retirement account by 21. Not quite regular savings but that seems to count to me. Also had around 40k or so before buying a car.

Tanmoykayesens avatar Tanmoykayesen Yeah You Are +3Reply

Would you say it's Schrodinger's Cash?

Legendnoel77s avatar Legendnoel77 Yeah You Are +6Reply

$50K is enough to change my life but not enough to allow me to quit my job etc.

@Mcgee0 $500,000.00 isn't enough for me to quit my job.

It is if you change your life enough. Moving can make a huge difference.

Depends on where you are in life and what country. 50k usd in southeast Asia will go a long way.

@404ChompyNotFound Depends on where you are in life and what country. 50k usd in southeast Asia will go a long way.

Or even someone in their mid 20s or something in the US. Maybe not a lot later in life once your established but at that stage it would be a godsend.

@404ChompyNotFound Depends on where you are in life and what country. 50k usd in southeast Asia will go a long way.

My taxi driver from Vietnam told me today that you can go to Vietnam with two thousand in your pocket and live like a king.

I asked him why he doesn't just save up and go and he said it's too hot and sticky.

So I guess being in a cab driver in a mild climate beats being a king in a hot climate.

jodzdzownicas avatar jodzdzownica Yeah You Are +5Reply

This goes for any amount of money more or less. 50k flat isn't a lot. 50k extra is.

50k would change my life forever.

It is the minimum my bank will loan for home purchase, and the lowest amount I would pay in interest on that $50K would earn the bank $16K over 5 years. What a scam! :0

Winning this at a casino would be awesome. Salary? Awful.

Openeyess avatar Openeyes Yeah You Are +1Reply
@Cheytuflya … awful? $50,000 salary is awful! TIL

I dont know how people manage to survive on such low salaries.

Then again, im white and male so obviously I have tons of privilege.

Iapetus-11s avatar Iapetus-11 Yeah You Are +11Reply
@Cheytuflya … awful? $50,000 salary is awful! TIL

For me. That would be a very inappropriate offer.

@Cheytuflya … awful? $50,000 salary is awful! TIL

If you live in a high cost of living city, it's pretty bad 🥲

@Cheytuflya … awful? $50,000 salary is awful! TIL

I mean, I wait tables and make $52K. I can't imagine what paying for a bachelor's degree would be like on $50K.

ChootEmChootEms avatar ChootEmChootEm Yeah You Are +4Reply
@Cheytuflya … awful? $50,000 salary is awful! TIL

Context is important where you are in your career and the cost of living. Here minimum wage is 15/hour and so for me 20 years into my career with a degree if i was only making 25/hour yeah that would be absolutely terrible.

Nickyikkys avatar Nickyikky Yeah You Are +4Reply
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