what would you do with $20,000?

Answer 1

I would either pay off my debt or invest it. I don't know your financial situation, but if I were sitting down with you, I need to see the whole financial picture. How much debt do you have? What do you have save right now? Where does all your money go? When do you plan to retire? From there, I can find the best efficient way to use that $20,000 It may go to pay off some debts. It may be split between paying debts and investing the difference. Or invest it all.

Let's say you invest $10,000. At a 10% rate of return in a 30 year period, you will have: $198,375. If you invest $20,000, you will have: $396,750.

For me, I would use $10,000 to pay off my debt and then I would invest the rest.

Answer 2

The same thing I've done with the $20,000 I have. Put it in the bank for emergencies. Of course, that's after paying off all consumer and student loan debts.

Answer 3

Pay off your highest credit card balance, then pay off the next one, etc. etc. etc. If there is anything left, open a money market account at your bank. Keep it liquid, so you can get to it in an emergency.

Answer 4

Pay off bills mostly, but save back just enough to go visit my best friend on the west coast.

Answer 5

$2000 to pay off the last of my car

$1000 for our QLD holiday in August

$2000 into my partner's and my joint account for emergencies

$15000 to increase my share port folio

Answer 6

Pay off the rest of my student loans ($15,000), and use the last $5,000 to go on a well deserved vacation.

Answer 7

Nothing. Let it sit in an investment account and earn interest.

Answer 8

Put it in the bank and save it for emergency's.

Answer 9

Put heat in my house and a roof on top.

Answer 10

buy tigers, save the little children in unganda, and buy me some stuff.