Unless you have a crummy interest rate, chances are it would be better to invest the $50,000 rather than pay down one's mortgage.
First off, your only going to be able to keep about $65,000 due to taxes..so with the 65K I'd.. Take 12K to pay off the rest of the wife's student loan. Put 20K in a money-market account for an emergency fund Use the 33K remaining (along with about 30K I'd get from the sale of our $140K house - after realtor fees) and use it as a downpayment on 250K house with a 15yr loan. This would give us a newer home with not too much of a bump in monthly cost, plus the $1,000+ I've been putting towards the debt will now go to funding 529's for the kids college and to bump up our savings to 15% of our monthly income.
Nothing but.. Add to my current savings. I'm working on something nice next year. Will make a thread once the project/construction is done.
<iframe width="560" height="315" src="//www.youtube.com/embed/PgDsyj5eLmo" frameborder="0" allowfullscreen></iframe> Beanie Babies obviously.
Thinking of the taxes, funny that Mickelson will only retain about 25% of the earnings for his last two gold earning after taxes and paying fees. That's insane, and funny.
Start a business with 50k, put 20k in the bank and invest the other 25k in stocks or bonds. 5k for donation.
If I had a 100K I would buy me front row seats at Toyota Center, probably right next to Les Alexander, whatever is left I'd split 50/50 on the kids college tuition and a family vacation! ....... ....... .......
Q: What is $100K these days? A: A nice start. As such, I'd buy another rental property. Give me a million dollars and we can talk about some frivolous spending.
Definitely pay off debt. With the rest, probably invest. Or hookers and cocaine. Which ever my wife would prefer.
