What Should You Do With $20000?

What to do with $20000
Coming into a windfall is always great, especially if it is a sizable amount of money. Many people don’t know what to do with a significant amount of cash when they come into it though. Oftentimes people wind up squandering it away on items they don’t really need or buying one big-ticket item. There is a right and wrong way to handle these kinds of windfalls though.

So, let’s say you come into an extra $20000. Maybe a relative died, maybe you won a small amount on the lottery or you got a sizable bonus at work. Whatever the case may be, you have extra cash and you need to know what to do with it.

What Should You Do With $20000?

There no clear answer as to what you should and should not do if you come into $20000. All of it depends on your current financial situation. Here’s how you should approach what to do with $20000:

  1. Save. Not many people have enough savings to cover small emergencies ($1000 or less). Make sure that if you come into any windfall, especially one as large as $20000, you put some of your cash in savings. Having a safety net like that will always provide peace of mind and help you generate some wealth over time (if your bank’s interest rate is good). If at all possible, try and put at least half of every windfall into a savings account.
  2. Pay off and pay down debts. If you have any debt, try to pay it down or off with your newly-acquired cash. People who are deep in debt should probably try to pay their debts off before anything else (after saving, of course).
  3. Invest. Lastly, if you have saved and paid down/paid off debts you can invest your $20000. Many people get nervous when they hear the word “invest” because they think it entails working with the stock market. That isn’t always the case though. You can invest your money in plenty of different ways.

How to Invest $20000

If you’re wondering what to do with $20000 investing is a great way to spend the cash. How do you go about investing $20000 though? It can be pretty overwhelming. Here’s a few ways to invest your $20000:

  • Invest in the Stock Market – Stock market investing can be a bit intimidating for many people. However, you can get started investing for much less than $20000.
  • Use an Investing App or Broker – There are many different apps, like Acorns, that help people start investing and continue investing over time. If you’re not comfortable using an app you can also contact a broker directly (I would suggest a broker if you’re looking to invest the entire $20000).
  • Invest in Yourself – Maybe you need to take a few classes for work or you’ve been meaning to go back to school, take a fitness class or even buy yourself something new to further your career (like a computer).
  • Make Some Renovations – If you own your home and are wondering what to do with $20000, make a list of things that need renewed and renovated around your home. $20000 can cover a lot of home renovations.

There’s no right thing to do with $20000 but there are some great things you can do to better your financial future with that cash.

Have you ever come into a large sum of money? What did you do with it? 

Photo: Benzinga

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Sheila E’s Net Worth

Sheila E's net worth
If you’re a fan of 80s music or even familiar with Prince’s “Purple Rain” album you may be familiar with Sheila E. She’s paved her own way through the worlds of performing, singing, writing, dancing and acting through the 80s and is still working today.

After being in the spotlight for decades, Sheila E. has had to have made a pretty penny. So, what is Sheila E’s net worth and where did she rake in all her cash?

About Sheila E

As noted above, Sheila Escovedo (better known by her stage name Sheila E), is a performer. She was born on December 12, 1957, in Oakland, California. Escovedo came from a colorful background. Her mother is Creole, African American and her father is Mexican American. Her father was a percussionist, which is likely why Sheila E. was so drawn to the spotlight most of her life.

By 1976, when Sheila E. was just 19 years old, she’d made her recording debut. She performed alongside jazz bass player Alphonso Johnson and once she was in her early 20s she’d already performed alongside big names like Lionel Richie, Marvin Gaye and Diana Ross. Later she would join forces with Prince on his album “Purple Rain.” In fact, she became a full band member and toured with Prince until 1989.

In June 1984, Sheila E. released her debut album “The Glamorous Life.” The title-track single was able to meet number 7 on the Hot 100 and topped dance music charts for two weeks. She has also released a number of other individual albums over the years as well.

Sheila E. has been active in more recent years too. She has been featured on vocals in some songs but you’re more likely to have heard a drum solo or background drum beats that are played by the 57-year-old performer. Most recently she provided a drumbeat for orchestral soundtracks to “Man of Steel” and “Batman vs. Superman: Dawn of Justice.”

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Sheila E’s Net Worth

Sheila E's net worthBut what does all of that mean for her financial health? Of course, Sheila E. has had a successful career but has she been able to create a stable financial foundation for herself?

Well, Sheila E’s net worth sits at about $12 million so it’s pretty safe to say she’ll be okay, especially because she is continuing to make music and perform every year. The bulk of her net worth of millions stemmed from touring with Prince. Sheila E. was able to tour with Prince during some of his most prominent years and then again during his reunion tour in the 2000s.

In addition to her work with Prince, Sheila E. has been able to secure a solid career for herself as well. Not only have her singles done really well (specifically on dance charts) but she’s also being featured in some really popular songs. Her drumming skills were featured in Beyonce’s “Work It Out.”

Each of these things has been able to contribute to Sheila E’s net worth over the years. Unlike many other celebrities, Sheila E. doesn’t have any plans for endorsements, etc. She simply plans to continue making music, which has worked out for her so far.

Have a celebrity you’d like us to cover? Let us know in the comments!

Photo: The Quietus and Alchetron

PewDiePie’s Net Worth

PewDiePie's net worth
Successful YouTubers make as much as six figures a year and the most popular faces have net worths of over $1 million. PewDiePie is a perfect example of someone who has taken advantage of the way YouTube works and has been able to build a substantial amount of wealth from it. How high is PewDiePie’s net worth and how much of it has come from the streaming site?

PewDiePie’s YouTube Career

PewDiePie was born Felix Arvid Ulf Kjellberg on October 24, 1989, in Sweden. Over the years he has become better known by his Youtube pseudonym, however. His web-based comedy series has been one of the top Youtube channels for years.

In 2010, while attending school, PewDiePie registered his YouTube account. After a while, he decided to quit school (much to his parent’s dismay) and start focusing on his Youtube content. Within just two years he surpassed 1 million subscribers.

During his time on YouTube, he has worked underneath many different multi-channel networks, as many other YouTubers have. More recently he was dropped from his network because of anti-Semitic remarks made in one of his videos. It doesn’t seem to have hurt his following any though.

Today PewDiePie has more than 55.1 million subscribers and 15.3 billion views, making him the most subscribed YouTuber of all time. Let’s get to what really matters though. What do all these numbers mean for PewDiePie’s finances?

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PewDiePie’s Net Worth

PewDiePie's net worthPewDiePie’s net worth is an estimated $20 million, which is pretty low considering he made $12 million in 2015 alone. However, the young Swedish comedian has seen a lot of success from the streaming site.

As you may know, Youtubers get paid per 1,000 views. For every 1,000 clicks, their video gets the owner of the channel receives between $1.50 and $4. Once you accumulate followers like PewDiePie and so many others have you can see how the money could start stacking up.

Unlike many of the other Youtube celebrities out there, PewDiePie does not have other sources of income (and it doesn’t seem like he really needs them). Because he has so many subscribers he’s been able to focus on Youtube alone for his income. He will eventually need to find alternate sources of income in the future but, for now, he seems right on track for maintaining his current wealth.

PewDiePie is continuing to post on his YouTube channel regularly and will likely continue to grow his following and his cash flow in the years to come.

What other YouTubers would you like for us to cover? Let us know in the comments. 

Photos: We the Unicorns and Mirror

Michelle Phan’s Net Worth

Michelle Phan's net worth
Youtube was one of the first sites of its kind when it launched in 2005. Now many sites have tried copying it but none have been as successful and none pay out what Youtube does either. Many Youtube stars are making a ton of cash from their video views. Whether their channel is about makeup, gaming or simply a comedic station, Youtubers make bank. Some of them are even worth millions of dollars.

What about Youtube makeup artist Michelle Phan? Is she raking in the cash from her Youtube channel? What is Michelle Phan’s net worth and how did Youtube help her get there?

Michelle Phan’s Net Worth

Michelle Phan’s net worth is estimated to be about $50 million. Since she began taping her makeup tutorials in 2005 Phan has been bringing in a significant amount of money from Youtube as well as a number of other lucrative deals she was able to land because of her channel.

Phan was born on April 11, 1987, in Boston but lived most of her life in Tampa, Fla. She attended Ringling College of Art and Design and received an Honorary Doctorate in 2014. By then, however, Phan had already been posting about makeup tutorials and creating videos for nine years.

The 30-year-old Youtube star started out blogging on her own personal site which focused on talking about new/different makeup techniques. She also critiqued some of the makeup tutorial videos that existed on the web at the time. It wasn’t long until Phan got the vlogging bug herself though. After Buzzfeed shared her video “How to Get Lady Gaga’s Eyes,” Phan went viral and was able to climb to over 1 million subscribers.

Since then Phan has become a Youtube advertising partner and has even launched her own multi-channel network called FAWN. Additionally, her Youtube channel was named on the “New Media Rockstars‘” Top 100 Channels at number 48.

Although each of Phan’s accomplishments on Youtube is no small feat, she didn’t get all her cash from the streaming site. What else has contributed to Michelle Phan’s net worth?

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How Phan’s Youtube Career Built Wealth

Michelle Phan's net worthNot many 30-year-olds have a $50 million fortune they’re sitting on but Phan was able to manipulate Youtube to benefit her business ventures. After gathering the following Phan was able to start earning real money from Youtube.

Youtubers are able to pull in a lot of cash from their videos. You get paid $1.50 to $4 for every 1,000 views your video receives. Once you reach 1 million subscribers about 10 percent of your following will view a video when it is posted. So, essentially, Youtubers with 1 million subscribers will make $150 to $400 for every video they post. After a while, this adds up.

Another way many YouTubers, including Phan, make money is through other endorsements and deals. Phan was able to land deals with big name-brand makeup companies like L’Oreal and Lancôme. She’s also published her own book, launched her own music group and makeup subscription company.

It is fair to say that many YouTubers are doing well. Because of her ability to use Youtube and land awesome deals, Michelle Phan’s net worth is likely to continue to climb in the years to come.

Photos: Youtube and Glamour

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