• Zagorath@aussie.zoneEnglish
    812·
    10 months ago

    Save up, go on a nice holiday overseas.

    Save up, buy a house.

    Take up a new expensive hobby like cycling or photography.

    Donate to charity.

    Donate to worthy political causes.

    Get a dopamine hit from seeing number go up.

    So many options.

    • Omgarm@lemmy.world
      791·
      10 months ago

      Fund a random Twitch streamer’s life while you stay at home doing nothing.

      • Kidplayer_666@lemm.ee
        9·
        10 months ago

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    • ed_cock@feddit.de
      2·
      10 months ago

      Become a patron of the arts and help some students through university.

      Work less.

      Withdraw it in coins to throw at poor people.

  • Neil@lemmy.mlEnglish
    624·
    10 months ago

    I’ve been in this situation.

    Get married to a single mom and you’ll be broke again in less than a year and in debt the next. That’s the quickest way to lose all of your money.

    • grue@lemmy.worldEnglish
      19·
      10 months ago

      There are way too many comments in this thread for it to be okay that yours is the only one mentioning investing for retirement.

      • Sylver@lemmy.world
        2·
        10 months ago

        And make sure you educate yourself on what colleges your kid is looking into. It sure would suck having all the 529 money get sucked into a scam school that generates debt for unexchangeable course credits.

    • WalrusDragonOnABike [they/them]@reddthat.com
      2·
      10 months ago

      Also, if you are technically self-employed, 401k + self-employed IRA provides a lot of room for more tax benefits. If you manage to fill those, then you can always open a brokerage account to put additional savings.

      Broad market index funds are a popular choice.

      Eventually retire so you have time to play those video games and get sleep.

    • miss_brainfart@lemmy.ml
      182·
      10 months ago

      I’m all for it.

      Support ethical porn sites that meet their actresses and actors with the respect they deserve.

  • Kraivo@lemmy.world
    30·
    10 months ago

    Depends on character traits of anon.

    Some invest/gamble

    Some hoard wealth

    Some uses it fight boredom like going to places, travelling, hobbies, etc.

    Some try sharing with others or straight up doing charities

    • theangryseal@lemmy.world
      4·
      10 months ago

      If all of my money had gone into a charity it would have been, “Junkies Helping Junkies Not Get Dope Sick No More”. :p

      Here at junkies, we split shots. We don’t get high. You found some dope on a gas station floor? Three people won’t get sick today. Or, Brenda will convince you that her tolerance is insane because of a recent stay at the hospital, she’ll get half and we’ll split half. She’ll nod out and she won’t be welcome at Junkies Helping Junkies Not Get Dope Sick No More no more.

      For real though, been sober for at least a decade at this point. It is crazy how much money people burn through with that little hobby. I don’t miss that life and I’m thankful to be away from it, so if I did accidentally become wealthy I’d give some back to the community that helped me get here. I’d drop by some local AA and NA groups and drop a pile of money under the 1s pretty often.

  • BudgieMania@kbin.social
    29·
    10 months ago

    If you are young and there’s nothing you really want to do with a significant amount of money, your emergency savings are decently big, and you don’t intend to make a significant purchase in the near to mid future, then you find yourself a tax-free retirement account, a world index fund and an S&P 500 index fund and distribute money across them with the priority being reaching whatever is the max in the first one

  • fury@lemmy.world
    261·
    10 months ago
    • Save an emergency fund of 6-12 months of expenses. You never know when the rug will get pulled out from under you.
    • Pay off all debts.
    • Save at least 15% of income into retirement accounts (not counting any matches).
    • Give to charity or random internet persons.
    • Buy a house.
    • Pay it off.
    • Max all retirement accounts, invest in some mutual funds, give more.
    • spujb@lemmy.cafeEnglish
      3·
      10 months ago

      consider also investing in your community. find local organizations or mutual aid networks, help friends out and in general find ways to build other people up so that they can be there for you if you ever fall on hard times.

  • shani66@ani.social
    20·
    10 months ago

    Unironically anon has cracked the big secret of capitalism; the end goal doesn’t matter until someone is trying to steal it from you, and they will try because some people are sick in the head

    • wrath_of_grunge@kbin.social
      13·
      10 months ago

      the big secret is that money is not the end goal. money is merely a tool to let you do other things you want to do. it’s not an end, just a means.

      • shani66@ani.social
        2·
        10 months ago

        I was going to disagree based on culture, but my disagreement really just boils down to that being a way bigger secret. So i guess you right.

    • WhiteHawk@lemmy.world
      2·
      10 months ago

      Not really, there’s plenty of things you can spend your money on if you have goals and hobbies.