You may think $50,000 appearing in your bank account would be great, until the reality of the situation sets in...
Firstly, that $50,000 being transferred into your account is gonna raise some red flags at both the senders and receivers banks. Why? Because most countries have procedures in place to detect and prevent money laundering, and one of these is that bank transactions of over $10,000 get flagged for investigation. Both you and the sender will receive a call from your banks, asking if the transaction is authorised and what the money is to be used for.
Secondly, that $50,000 is likely going to be taxed in some way. Oh, and if you thought about not declaring it in your taxes for the year, the transaction will have been reported to your countries government department responsible for investigating money laundering, these departments often share information with... the tax office.
Thirdly, if youโre in receipt of any government benefits, youโre sudden increase in wealth is gonna see those be reduced or cut back entirely.