Probably something like… €400.000 to €450.000. Then I could buy an apartment or small house when I graduate and pay off my student loans in full. It depends on the city I can find work in and want to live though. There are 3 I’m seriously considering and it varies about a €100.000 for a house between the cheapest and most expensive of the three.
10K€ would pay me some debts and allow me to buy a new(er) car than my old ass ‘93 corsa.
I love the thing to death since it has so much meaning for me. But I really wish it had AC and power steering. Parking on tight spots is hell, but on the upside gets me a quick workout :’)
I mean, anything over about 1000 USD would be a big help, I had to make an unexpected visit to a sick parent that really set back my short term goals.
10k would be a nice emergency fund and I could start focusing again on things like moving to a better place (moving is expensive).
100k would mean freedom to get any transition-related surgeries I want without hassling with insurance. Or it could be rolled into a home purchase or retirement.
Currently my income isn’t great, but I can pay my bills with savings to spare, even in a nicer apartment or home.
The least amount? 20k US would halve my credit card debt and give me a leg up on getting the rest paid off. 40k would give me a jump start on finally rebuilding. Given I’m in my 50s though and with the state of the world, I’m likely to be making credit card payments until the day I die.
52 here, much the same story. Started getting paid for the first time in life, went a little nuts with credit. $20K would knock most of it out.
OTOH, I got most of the things I’ve wanted in life before inflation exploded, so I got that going for me.
Also, about to get no less than $50K for the last of my inheritance. That damn well pays of Habitat for Humanity on our home.
Do the Dave Ramsey thing! Focus on your smallest debt, pay it off. Go for the next one. And the next.
I can dig out in the next 2 years. My wife just took a second job, and while that sucks, she’s happy to do it so she can contribute more to the household.
This would pay off our mortgage and we could dump that monthly payment into saving for retirement.
However, if the question was how much do we need then it would be $0. We are far more fortunate than many.
If there was a line of all the people in this comment section waiting to get whatever amount they need I’d be one of those continuously moving to the back to let others go first.
I hope you all find improved quality of life, even if it’s not through some financial windfall!
You’d be better off keeping the mortgage, since it’s about the cheapest leverage your average person has access to, and investing the lump sum. Net present value, baby.
About $160k. That would be enough for me to graduate med school or a Masters program (which also offered me scholarships) debt free with my current savings!
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