What would you do with $1million dollars?

[plowking]

If it just fell in your lap? Whatever way I guess. Through investment, inheritance, lotto, etc.

Are you the type of person to spend it, and sure up things you already have in life? Would you pay off your home? Or would you sell your current one and buy a better one? Buy a new car?

Or, would you re-invest? What would you invest in? Would you simply let the money sit in an account and accumulate interest for a while?

A million is a lot, but at the same time isn't that much today. It is an amazing start or heads up over most people, but you aren't in any way rich with just a million. Essentially, my question is, are you a risk averse person, simply taking it for what it is, and improving your financial stability and life somewhat, or would you attempt to continue to grow on this capital and look for further avenues of revenue from it?

[TommyGriffin]

Buy property.

[~primetime~]

Invest every penny, try to make 7%, reinvesting 2% for inflation.

Take home $50k a year till I die.

Kids then inherit the same amount adjusted for inflation.

[~primetime~]

Without kids you could set it up in multiple IRAs that would be set up to pay a fixed amount every year that would run out when you turn 85 or so.

So maybe you spend roughly $75k a year or something till you die.

[Smoke117]

Shove it up your tw@t till your uterus explodes. ^________^

[plowking]

Property is a safe choice I guess. Obviously a very low return on it, but over the long term, it is a sound investment.


primetime, I guess your idea is working with the 4% rule, and simply having the million work for you as a secondary revenue stream.

[~primetime~]

Property is a safe choice I guess. Obviously a very low return on it, but over the long term, it is a sound investment.


primetime, I guess your idea is working with the 4% rule, and simply having the million work for you as a secondary revenue stream.
Yes, you'll always be able to take care of yourself that way, never need anyone's help to get by or stress over money, it's always there, always got your back.

[9erempiree]

Dump half into Forex.

Since this is an election year and every news cycle triggers currency...it's a good way to make a killing.

I would have hedged against the GBP and would have made a killing. That is in hindsight though but Forex is what I would do.

[DCL]

a million really isn't that much to say, "fk it, i'm all set" especially if you have a family and still A LOT of years to live.

but a million would be a great starting point.

because it's quite hard to get that first million from zero.

however, it becomes a lot easier to make another million if you already have the first million.

and that's because you can ride through most downturns when you have back up money. let's say you buy an investment property and then suddenly lose your job and the economy goes south and you can't find tenants. if you don't have rainy day money, you might encounter cash flow issues and even be forced to sell your assets when prices have been beaten down.

BUT if you got extra money beyond what you need for basic survival, maybe you don't have to sell anything. you have the option to ride out hard landings/financial crises and probably even come out even better over time because assets will probably eventually recover and inflation will be working FOR you instead of against you when you own stuff.

we saw a lot of this happen since 2008.

[plowking]

a million really isn't that much to say, "fk it, i'm all set" especially if you have a family and still A LOT of years to live.

Exactly. It is enough to give you opportunities though. It is a really awkward figure which presents you with the option to pursue opportunities for more, but at the same time, it is enough, where it makes life so much easier going forward if you choose to simply spend it on improving your life right now.


but a million would be a great starting point.

because it's quite hard to get that first million from zero.

however, it becomes a lot easier to make another million if you already have the first million.

and that's because you can ride through most downturns when you have back up money. let's say you buy an investment property and then suddenly lose your job and the economy goes south and you can't find tenants. if you don't have rainy day money, you might encounter cash flow issues and even be forced to sell your assets when prices have been beaten down.

BUT if you got extra money beyond what you need for basic survival, maybe you don't have to sell anything. you have the option to ride out hard landings/financial crises and probably even come out even better over time because assets will probably eventually recover and inflation will be working FOR you instead of against you when you own stuff.

we saw a lot of this happen since 2008.

A good point. Liquidity in tough times is what divides the rich and poor, and what actually creates the larger wealth gap we see. When you do have a lot of money, you buy when everything has gone to shit. You have enough cash that you aren't so worried about the now, and know eventually, the uptrend will at some point begin and go back to normal levels.

[plowking]

Yes, you'll always be able to take care of yourself that way, never need anyone's help to get by or stress over money, it's always there, always got your back.

A good way to live. A secure way.

I think personally I would look at it as a great avenue to possibly build on something bigger. Stocks, or a possible business venture, etc. So many new markets and opportunities available with the world being more connected.

[sd3035]

Don't care, don't need it

I'd probably give it to someone who is a good person who tries really hard in life but can't seem to get ahead

[kurple]

Buy up ISH for what, 90k? And perma-ban 9er and the rest of the trump/racist fam

[poido123]

Dump half into Forex.

Since this is an election year and every news cycle triggers currency...it's a good way to make a killing.

I would have hedged against the GBP and would have made a killing. That is in hindsight though but Forex is what I would do.


The US dollar is about to have a massive plunge once Trump is voted in.


Like Brexit, the currency took a big hit. I expect the announcement of Trump as the next president would create even more uncertainty and hysteria than the Brexit.


I'm looking to travel to New York, Chicago and Boston next year. Might grab me some US dollars right after the election result :rockon:

[Doomsday Dallas]

Invest every penny, try to make 7%, reinvesting 2% for inflation.

Take home $50k a year till I die.

Kids then inherit the same amount adjusted for inflation.


Today wouldn't have been a good day to invest every penny.

I don't feel comfortable investing in very many things the next 3-4 years.

I mean come on people... We are dealing with Trump & Hillary factor.

[9erempiree]

Hedging on the GBP during Brexit with 1 million dollars would have netted you several millions. Maybe even 10 million with the leverage they give you. At the same time, it would be scary as fvck to see 100's of thousands of dollars fluctuate every second. :eek:

[Doomsday Dallas]

This Wells Fargo thing doesn't look good.

[Cleverness]

real estate would be a horrible investment, especially right now. it returns about the same as inflation over time.

i like primetime's idea

[Facepalm]

What would you do with $1million dollars?

Leave it under my couch cushions where i found it

[Andrei89]

buy some land for 30k in Romania then put solar panels on all of it

[Charlie Sheen]

Probably blow a chunk of it on a house i couldn't afford to keep 10 years down the road. Do some traveling of my own. Set aside some money for nephew to go to college. Find someone smarter than me to help me out with a plan for retirement a few years earlier than the course i'm set on right now.

I don't have kids a wife or any of that.

[GimmeThat]

when you ask a question like this, it really puts the perspective as to how long a pet's life expectancy is under the micro-scope

[CakeorDeath]

"I tell what I'd do, man. Two chicks at the same time, man."



http://i2.kym-cdn.com/photos/images/original/000/614/948/36c.jpg

[~primetime~]

Today wouldn't have been a good day to invest every penny.

I don't feel comfortable investing in very many things the next 3-4 years.

I mean come on people... We are dealing with Trump & Hillary factor.
Investing long term isn't about the next 3-4 years, it's about the next 30-40 years.

Over spans of time that long the market will go up for sure, with recessions maybe even depressions along the way.

[Nastradamus]

2 houses, kid's education fund, retirement fund, vacation fund. Whatevers left I play with

[nightprowler10]

Pay off my house and take care of my father. Invest the rest.

[plowking]

2 houses, kid's education fund, retirement fund, vacation fund. Whatevers left I play with

I can see the temptation in buying a house outright with the cash. Would you rather just have it paid off, or get out a mortgage with a variable rate, have your money producing at a rate higher than that, and pay off with the interest your million makes?

That way, you don't lose your initial capital, you have liquidity to pay off the home when you want, and you might make money on top of your investment at a rate far higher than getting rent, even while paying it off.

Although, buying outright just puts your mind at ease, but with the market the way it is, I don't think the asset grows in price at the rate of your interest. So might not be the most efficient way.

[Jasper]

75k to each 4 kids....

400k to donation

buy two small properties I don't have.

[KyrieTheFuture]

75k to each 4 kids....

400k to donation

buy two small properties I don't have.
What two properties are you buying for 300k? Kansas trailer parks?

[Lebron23]

Start my own newspaper agency, buy 3 franchise of Burger King, buy a house and lot, and have my own pool and court.