hank - Share : So the nice folks over at MarketLeverage have agreed to sponsor the contest this round as they’ve been duly impressed with the postings that come out of the M.I.B! I’m happy to say that I’m happy to hear it! That being said, the contest is giving away 3 American Express gift cards for $150, $100, and $50!
We had an opportunity to cook up a laundry list of prizes, but I figured the folks that swing by here want to make THEIR money work for THEM instead of giving prizes that you’d have to turn around and sling up to eBay. I say let your cash work for you!
So in the last 2 promotions (Contest1, Contest2) the rules seemed to work very well and rewarded everyone accordingly, soooooo:
The Prizes
There are a total of (3) prizes worth $300 that will be given out:
The Question
So the question each person needs to answer is:
If you were given $50,000USD (tax free) today, what would you spend it on?
The Entries
There are actually 100 possible entries you can have if you use all the options, so read these rules closely!
1. Leave a relevant comment based on the question above (5 entries)
2. “Favoritize” this page through your choice of preferred methods: Del.Icio.Us / Reddit / Digg / Stumble Upon / Technorati / PFBuzz . After linking, use the contact page to shoot me an email to which page you’ve submitted (5 entries)
3. Sign up for my RSS feed (10 entries) [if already signed up contact me to have your entries added]
4. Sign up for The Money Life Network RSS Feed. Worry not, MLN won’t bite.(10 entries) [if already signed up contact me to have your entries added]
5. Refer a friend to this blog and have them leave an entry here on this post. Contact me with the friend you referred (10 entries)
6. Provide a writeup based on the question above on your own blog and link back to this post (15 entries)
7. Add me to your BlogRoll (15 entries)
8. Review MyInvestingBlog.com on your website (30 entries)
The Rules
- This giveaway is all in good fun.
- There is no purchase necessary and it won’t improve your chances to win, but I’m always up for free $ if you’d like to send me some.
- If it works as planned, I’m happy to offer more giveaways in the future.
- The winners will be selected by random number generator.
- The winners will be chosen on August 6, 2008 @ 12pm Pacific Standard Time(PST).
- Anyone of any age can enter unless it is illegal in your area.
- The winners will be contacted via email, SO LEAVE A VALID EMAIL ADDRESS IF YOU WANT TO BE CONTACTED! I promise I will NEVER use your email address for evil purposes. Just to contact you to tell you that you’ve won. You don’t even need to leave a real name if you don’t want, just a valid email address (and home address if you win). If the email address isn’t valid, I’ll use the random number generator to pick another name.
- All prizes are provided “as is”.
- If you want to host my next giveaway, I’m happy to consider your offer. Contact me.
- The odds of winning depend on how many people are involved. I can’t give you this info now, but I can assure you, it’s easier to win than the standard lottery.
- By getting in on this you allow MyInvestingBlog to republish what you write either on this blog or other spots.
- I am the judge and jury as to what is a “relevant” post. If you’re following the rules above, you’re most likely a valid post; but I reserve the right to delete your post if I feel it isn’t relevant to this blog. For example, if you write something like: “I really like giftcards, and I really really like free gift certificates!” You’ll probably not get in. Please make it a valid post!
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185 Comments
July 14th, 2008 at 5:58 am
If I had $50,000 tax free, I would probably invest most of it - and maybe take out 4-5 thousand for a trip my wife and I had planned to take. Oh, and I would by that digital SLR camera that I’ve been wanting for so long, but haven’t been able to justify buying..
Wow, now you got me thinking about ways to spend money.. not good!! I’m trying to save!
Pete’s last blog post..From the archive: Debt Snowball - pay off the smaller debts first
July 14th, 2008 at 6:26 am
With 50k, I’d find myself traveling the world till it ran out. I have feeling I would be doing it for a few years on that $!
July 14th, 2008 at 6:31 am
Oh dear $50,000 would certainly improve my life! I am in the same boat as Pete, I am trying to SAVE, not spend! So on that note, I would be putting 95% of it in the bank or other investment, but would certainly use that 5% for some fun beforehand!
July 14th, 2008 at 6:42 am
If you were given $50,000USD (tax free) today, what would you spend it on?
Would invest in a web company - risky but who knows, it may be the next Facebook!
July 14th, 2008 at 6:51 am
I think I’d use most of it to pay down a credit card and a LOT of student loans. Some would go towards an emergency fund and a little would go to getting a few things we need around the house.
JR
July 14th, 2008 at 9:10 am
Since I am currently working the Dave Ramsey baby steps, I would use the $50,000 to pay off the remainder of my consumer debts including my car, and the remaining would be a good start to the 3-6 months emergency fund….Unfortunately there would not be much leftover for “fun”…but thats why entering this contest is so much fun! Thanks for the contest…love your blog!
July 14th, 2008 at 11:40 am
With $50,000 I’d pay off the 20 side of my 80/20 home loan, that’d leave about $20k remaining. I’d that use to finish off the second floor interior of our home, which currently consists of one inconveniently placed finished room in the middle of ‘attic’ space.
Man having that loan paid off would be nice…
July 14th, 2008 at 12:01 pm
50 G’s huh? We’ve been looking to upgrade our car, possibly to a mini-van to fit the kids and stuff. The money would go to pay off a car in full so we wouldn’t have any finance payments. Anything left over would be put into ING savings to earn interest (not that interest can keep up with gas prices but everything helps).
FFB’s last blog post..Festive Link Love Carnivality #17
July 14th, 2008 at 12:46 pm
Its pretty simple for me. With $50,000 I would take half and put it in some sort of CD, saving, or something that would give a reasonable return with little risk. The other half would go directly into stocks.
theWild1’s last blog post..Its in the Sand
July 14th, 2008 at 2:21 pm
My wife and I would decide between two things:
Option 1 - Pay off medical school debt. Who the heck would have thought that in order to become a physical therapist, it’d cost just slightly less than becoming a doctor? Oh, and then you get paid just slightly better than a nurse, too. $50 k would take a huge chunk out of that education debt.
Option 2 - Dump it in a 0.03% savings account (or better). The $1500 a year in interest would be used to pay for Christmas gifts for everyone in our family each year.
I do not believe I would use the money for any tangible thing, since I think I’ve got everything that I really need.
July 14th, 2008 at 7:31 pm
Hmm…this is not as easy as it seems. Investing it is the first thing that comes to mind. My wife will probably want to spend it on a used minivan. But if I get to choose, I’ll try to invest it in some sort of business venture.
Pinyo’s last blog post..Seven Traits of Successful People (Reprint)
July 14th, 2008 at 7:38 pm
I would invest in tax-free municipal bonds or inflation-adjusted treasury bonds, and have it be a secure, core base for upcoming financial independence.
July 15th, 2008 at 12:07 am
I would give 5 grand to my church. I would do 5 grand in home renovations. take a trip with my wife worth 10 grand. buy some consumer products for 5 grand. and last but not least, i’d invest the last 25 grand.
Kevin at 20s Money’s last blog post..How The Swiss Got Rich: The Zurich Axioms Part 2
July 15th, 2008 at 12:56 am
I would apply enough to my mortgage so that I could drop PMI.
The remainder I would set aside in a savings account my wife and I have established for the purchase of a vacation home on a lake of ski mountain somewhere in Maine.
Benjamin’s last blog post..Hymotion L5 and The 100mpg Toyota Prius
July 15th, 2008 at 7:16 pm
I would invest the 50K in a low-cost total-market index fund.
Vered’s last blog post..Google Search Terms: The Funny, The Sad, And The CREEPY
July 16th, 2008 at 8:37 am
I’m doing it the Ramsey way… paying off debt. I’d pay off my student loan!
July 17th, 2008 at 1:58 pm
Hey there,
Ive subscribed to both the feeds and blogged about the contest as I am also currently hosting a Market Leverage contest.
http://www.enkayblog.com/more-great-contests/
Also, if I were given $50,000, I would play it smart. I have a college education to pay for which will probably cost another $20,000 from what I have already paid so far so I would pay that off. I would donate $5000 to Save The Children. The other $25,000 I would keep for a rainy day because with the economy going the way it is, I would rather save and be worry-free rather than spend and regret later on.
So I dont know how many entries that is but thanks for this!
Enkay Blog’s last blog post..Are You Fast Enough?
July 17th, 2008 at 5:37 pm
You’re too kind! But you got my attention for your offer. I would use the money to visit my family in New Jersey. I would also help them out with some of it.
July 18th, 2008 at 1:22 am
If I had 50,000 USD Cash tax free, I would invest it in foreign companies. Why? Because US economy is going down….
Syed Balkhi’s last blog post..How to Display the most recent post from a specific category in Wordpress?
July 18th, 2008 at 2:40 am
Well, I’d pay off my student loan first. Then invest, save, donate, and have fun! I would love to ravel the world with my partner!!!
July 18th, 2008 at 3:00 am
I meant *travel
Not ravel.
Blogged here: http://bunnymoney9.blogspot.com/2008/07/my-investing-blog-contest.html
BBx’s last blog post..Boot Loot Contest
July 18th, 2008 at 4:04 am
I would first invest my money strategically & try to multiply that sum. Then I would help my parents pay for my college tuition!
July 18th, 2008 at 7:03 am
If I had $50,000 in tax free money. I’d likely buy 1000 ounces of silver, 20 ounces of gold and keep the rest in cash.b
Reid @ MooneyQuest.com’s last blog post..One Step Closer to my Pilots License
July 18th, 2008 at 8:39 am
50K would be enough for me to split amongst different goals. I’d pay off a little debt (5K), build a better cash savings (5K), buy another piece of real estate (30K for down payment), and use the remaining 10K for our 2008 IRAs. Easy!
Great contest, Hank. Hope it goes well….oh, and I hope I win.
PT’s last blog post..Hey You! Subscribe to Prime Time Money
July 18th, 2008 at 9:03 am
I’d definitely pay off my debts, invest most of what’s left over and maybe take a mini-vacation.
Lyndon’s last blog post..Head in The Clouds
July 18th, 2008 at 1:30 pm
Donate 10 % to charity.
Save 10 %.
Invest 10 %.
Pay off van.
Finish remodel.
Pay for trip to Puerto Rico in fall.
JackieW. transplanted Okie (Buried in Legos)’s last blog post..Fight the Frump with Fussy … Silver Hair
July 18th, 2008 at 1:36 pm
I’d pay off my law school student loans.
July 18th, 2008 at 6:55 pm
$50,000 would pay off my student loans and leave me enough to take the family on a Disney cruise (although I’m not sure my boys are old enough to enjoy it yet). Alternatively, I would love to make some improvements to my house, especially a kitchen remodel and new carpet!
Cathy’s last blog post..The Jardine crib recall is being handled poorly
July 19th, 2008 at 8:48 am
I’d buy a new car with good gas mileage like the Toyota Prius and go on a vacation to Australia.
July 19th, 2008 at 12:33 pm
What a tough question, there are some many things that I can think of if I had $50,000 tax free today….I guess the one that I submit for the contest is to purchase an investment property. Most of my ideas are centered around investing in some of my business ideas, maybe pay a graphic designer for a new logo for my blog….
July 19th, 2008 at 2:15 pm
I would pay off my $16,000 doctor bill, buy a vehicle with AC, get our teeth fixed, and pay off some bills!
I subscribed to your RSS feed and linked to you on my blog.
http://www.xanga.com/Romans8_28Life
July 19th, 2008 at 2:29 pm
I would pay off my $653 in debt, pay off my house $38k, take my trip to Yellowstone and stay in hotels instead of camping out in bear country and start my retirement account. I am disabled so these things are very difficult to do on a disability check.
July 19th, 2008 at 2:35 pm
What a great giveaway. With $50,000 I would invest at least half or more in safe stocks and I would travel, and give my son a good chunk to help him pay off his loans.
July 19th, 2008 at 2:38 pm
I would invest some of it, and some of it I would use to help my mom move out of her house.
July 19th, 2008 at 2:49 pm
I would use every penny to pay back various debts I’ve accumulated through the years. . .including the massive amounts of student loans.
July 19th, 2008 at 6:11 pm
I would spend the $50,000 to buy a home. . . nothing extravagant, of course.
Tami’s last blog post..Simple Woman’s Daybook: July 14, 2008
July 19th, 2008 at 11:56 pm
$50,000 would be equally distributed between my three daughter’s college bills. It would be very nice to have a few months without paying into their installment plans.
July 20th, 2008 at 2:53 am
Hi Hank
With $50,000 I would pay off a chunk of my mortgage (and I would hope for a better exchange rate than $2/pound sterling
)
Neil