Assume a client has come to you after winning $50,000 in casino winnings.  Explain how they should distribute the winnings the way in which aligns with a practical investment strategy.  Assume the client makes $60K/year as an entry level accountant and just came into the winnings.  Tell us how the client should distribute the winnings based on the following monthly budget:

Winnings $50K

Taxable @ 40%

Student Loans: $10K @ 3% interest per year

Credit Card Debt: $4K @ 24% interest per year

Rent: $1K/month

Monthly Car Payment: $500/month

Avg. utility bill: $300/month

Avg. food bill: $500/month

Avg. entertainment bill: $200/month

Checking account: Zero dollars

Retirement account: Zero dollars