'$100,000? Yeah, that isn't a life-changing amount anymore': People get realistic when asked what they would do with $100k

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Elna McHilderson • Managing Editor
Mar 5, 2024 12:00 PM EST

No more delusions of grandeur for the people in this economy. 

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  • Winning $100,000 in today's economy doesn't really do much these days. Most people in the U.S. are already struggling with debt upwards in the $100,000, so maybe that would free them of debt, but that's about it. Back in the day, if someone asked you what you would do if you won $100k, the delusions of grandeur would go wild. You would talk about all the fancy cars you would own, the beautiful home you'd buy, the traveling you would do, etc. Now, it's just boring ‘ole get debit-free and then keep working full-time until probably forever. You would think this question would have people getting creative or philosophical, but instead, it's just realistic. In fact, some are just outright wholesome, saying they would give it to a family member in need. Sure, no one is saying $100k wouldn't help, they would love to be given free money! They're all just saying that it isn't as spectacular nowadays and you'd think…

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    30 FARBE NOW20 NOTE THE TYPES MERSK Med O AMB 245171151 +20 TWENTY DOLLARS
    via Karolina Grabowska via Pexels
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    manafahayp 2 hr. ago · edited 1 hr. ago . I received A $500K award from a lawsuit. As we went through the court's lengthy process I had time to really think about what I would do with the money once I won. I'm a seventy one year old retired, long divorced, electrician. My retirement gave me enough to live in a small trailer in a park near some friends. Simple but comfortable. In the end I just gave it to my son. He had been a brilliant engineer until a stroke disabled him. With the money I felt
    via manafahayp
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    ardimentopv. 2 hr. ago My life wouldn't change super dramatically. I'd be debt free, and would have college funds set up for my kids. And would be back at work on Monday, because what's left won't even buy a new house anymore. But I wouldn't be a debt slave anymore, a lot sooner than I would otherwise.
    via ardimentopv
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    madogvelkor 1 hr. ago Pretty much the same here. I'd pay off my remaining debt, and probably put the rest in investments and my daughter's fund. Maybe have a nice vacation somewhere. It's not enough to pay off my house, and the interest rate is low enough that I might as well put the money to work elsewhere.
    via madogvelkor
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    Stratiform 41 min. ago ● I'd probably just pay off my house and continue life as usual, but without a mortgage. I know they're are better choices, but owning my house outright this young would by pretty huge.
    via Startiform
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    Armor OfGod 7. 2 hr. ago I'd pay off my house and suddenly have an extra $850 each month, which would be huge.
    via ArmorOfGod7
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    BeerisAwesome01 3 hr. ago I'd go to the pub!
    via BeerIsAwesome01
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    generally-speaking · 2 hr. ago It wouldn't be life changing but it would be significant, it would put me about 5 years closer to several of my lifegoals.
    via generally-speaking
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    daemonhat 3 hr. ago aside from being debt free and allowing me to retire as planned in about 3 1/2 years as planned, not much would change.
    via daemonhat
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    Exotic-Lady- 30 min. ago ● I would probably quit my job and spend it in a month
    via Exotic-Lady-
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    xanax05mg. 2 hr. ago For the better. I would be 100% debt free with some money put away for the future. I might even treat myself to a steak.
    via xanax05mg
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    Immediate-Patient-31 2 hr. ago I could get half that and sob. I'd be able to pay off all my debt and actually BREATHE. I wouldn't have to choose between groceries and my medication. I could probably actually sleep. It would solve all my problems.
    via Immediate-Patient-31
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    The_Bill_Brasky_ . 2 hr. ago Pay all debt. Put the remaining 80k towards our house. Pay about a third of our rent as a mortgage, given that we are already saving a massive amount for our down payment. Take excess money every month and divide in two. Use first half to build a savings for house upgrades. Use second half to invest into low fee index funds for some eventual rainy day/passive income.
    via The_Bill_Brasky_
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    Wayward_Son_24 2 hr. ago I could trade in my 15yo 231k mi. base-trim work truck and get something a little newer and nicer, and avoid a car payment (which is the only reason I haven't traded it in already). #DebtFree
    via Wayward_Son_24
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    WAZZL32 hr. ago I knew a guy who inherited $100,000 after his dad died. He ended up blowing all his money on a brand new truck and drugs and now works for a moving company.
    via WAZZL3

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