It's not quite enough, but I need a new truck. So I'd pull out another $20k and get one with no payment. I haven't had any debt other than my mortgage in years and I'm trying to keep it that way.
this post was submitted on 16 Aug 2026
138 points (94.8% liked)
Ask Lemmy
41060 readers
1454 users here now
A Fediverse community for open-ended, thought provoking questions
Rules: (interactive)
1) Be nice and; have fun
Doxxing, trolling, sealioning, racism, toxicity and dog-whistling are not welcomed in AskLemmy. Remember what your mother said: if you can't say something nice, don't say anything at all. In addition, the site-wide Lemmy.world terms of service also apply here. Please familiarize yourself with them
2) All posts must end with a '?'
This is sort of like Jeopardy. Please phrase all post titles in the form of a proper question ending with ?
3) No spam
Please do not flood the community with nonsense. Actual suspected spammers will be banned on site. No astroturfing.
4) NSFW is okay, within reason
Just remember to tag posts with either a content warning or a [NSFW] tag. Overtly sexual posts are not allowed, please direct them to either !asklemmyafterdark@lemmy.world or !asklemmynsfw@lemmynsfw.com.
NSFW comments should be restricted to posts tagged [NSFW].
5) This is not a support community.
It is not a place for 'how do I?', type questions.
If you have any questions regarding the site itself or would like to report a community, please direct them to Lemmy.world Support or email info@lemmy.world. For other questions check our partnered communities list, or use the search function.
6) No US Politics.
Please don't post about current US Politics. If you need to do this, try !politicaldiscussion@lemmy.world or !uspolitics@lemmy.world
7) No Hit-and-Run questions.
Please don't delete your post for no apparent reason. If you plan on deleting a question later, say so in the post, or if you feel that you have a good reason to remove it, message a mod beforehand. It's not fair to the ones who took their time to answer, and it's not in the spirit of the community.
8) No Bots.
Posts or comments from bots, LLM's, AIs, Neural Networks, Transformers, or Marvin the Paranoid Android are not welcome in AskLemmy. Real humans only please.
Reminder: The terms of service apply here too.
Partnered Communities:
Logo design credit goes to: tubbadu
founded 3 years ago
MODERATORS
As a middle-aged homeowner with a modest house that's older than me, not to mention two old cars for the family: This is a situation where I'd probably try to spend as little as possible at first, but I could also make that money vanish overnight and nobody would notice.
Put it in my Roth IRA and have $850k in 25 years
In the 25 years you will be going to war invading Canada for water buddy boy. Better enjoy the money now.
load more comments
(4 replies)
Move out of my current living situation and save the rest.
Pay off some debts and the remaining 20k I’d put half stored up for covering running costs for a year or two, lessening our household stress for a bit and help us save up or just live a bit more, and another half I’d invest in homelab and some infra I’ve been holding off on due to lack of funds, hoping it might start paying dividends on my side projects / gigs eventually and pay itself back with more besides. So it wouldn’t give much, but it’d be big mental health boon for a few years
Pay off a chunk of debt.
I would buy an RV and live rent free wherever i want to
Build homelab to self host stuff. The rest goes on food to be spent over time.
load more comments
(1 replies)
Pay off by brother's student loans.
Or hire an artist full/part time for a game I'm working on.
Aww that's a nice thing to do for you brother
Pay off the remainder of my car, and then my mother's debt and wipe my hands of it all and disappear into my own life
Yes you can defeat this with both the Roth backdoor loophole, the mega Roth backdoor loophole, and the Solo 401k --> Roth loophole. Or, just put 7.5k in every year for 7 years, presto
Straight in the offset account. So I can pay slightly less interest on my mortgage for a bit.