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If you have one million dollar, what will you plan for it?
benson520
Member Posts: 22
The discussion is start here, ok, me first.
If I have 1 million dollar, I will use them to travel around the world, to eat dilicious food, hahaha.
so what's yours plan? tell us....
Comments
That actually sounds like a really good idea..!
i'd probably follow your example
Live from the interest. Maybe work parttime and do some traveling.
One million dollars is not that much money..
But if someone just so happened to give it to me.. I would probably get a nice house. For maybe 1.5 million, and mortgage the 500k.
______________________________
What if Paul Revere was like the boy who cried wolf....?
Originally posted by Hazmal
What does he say when people ask what he did? "My mommy was irking me yo - I wanted to keep pwning nubs on my xbox, so I roughed her up with a hardshell. That is just how I roll."
Think you could afford taxes on a 1.5 million dollar home, along with the 500k mortgage? No clue what you do for a living, but property taxes on a home like that can be steep, depending on where you live.
I'd pay off my student loans. Buy a house that I could afford on my current pay, and bank the rest. Of course, stuffing it in a mattress could be safer at this point. I might just buy a bunch of gold with it and sit on that instead.
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Originally posted by javac
well i'm 35 and have a PhD in science, and then 10 years experience in bioinformatics... you?
http://www.mmorpg.com/discussion2.cfm/thread/218865/page/8
Think you could afford taxes on a 1.5 million dollar home, along with the 500k mortgage? No clue what you do for a living, but property taxes on a home like that can be steep, depending on where you live.
You're probably right. I'll scratch that idea.
I'd say... Live in an apartment. Stuff at least 200k under the matress, and live my normal life.
______________________________
What if Paul Revere was like the boy who cried wolf....?
Originally posted by Hazmal
What does he say when people ask what he did? "My mommy was irking me yo - I wanted to keep pwning nubs on my xbox, so I roughed her up with a hardshell. That is just how I roll."
Would buy a nice condominium beside the parc here. And change my eclipse for a gt. And get a subaru.. and an Audi. Probably a garage... A bike..,, would take 1 year off work.
Give $100,000 1000 at a time to homeless people in Chicago.
Give
Save the rest and continue living normally.
The Official God FAQ
Buy a decent joint, bank a shitload and live off interest, work part-time.
Enjoy the free-time for whatever is fun.
O_o o_O
First, you cannot live off the interest of one million dollars.
Second, any earnings from the one million dollars would be FULLY TAXABLE and take-away whatever pitiful earnings you received from the interest.
Third, you could buy an annuity and have guaranteed income for life at a certain point with one million dollars - but one million dollars i not a lot of money.
Fourth, you would end-up drawing down from the principal anyway due to (a) pitiful interest; (b) inflation; (c) taxes; and (d) lack of discipline.
Five, why not "place" the one mililion in an account that is TAX FREE and invest in funds whose earnings are TAX FREE and generate greater interest than a passbook savings account?
We should change the amount of money to the New York Mega Millions number - well...Someone won.. because right now its at 26million.
It was at 216million a couple weeks ago. And an insurance firm won. (they pool money in together every weak)
So what would you do with 216 million... mind you if there was no taxes taken out from that winning, you won...216 million dollars..
My goodness....... I would straight up buy taht dream house. donate to science. a boat, couple cars. and just live.
______________________________
What if Paul Revere was like the boy who cried wolf....?
Originally posted by Hazmal
What does he say when people ask what he did? "My mommy was irking me yo - I wanted to keep pwning nubs on my xbox, so I roughed her up with a hardshell. That is just how I roll."
Hmm 216 Million...
I would buy a house, a resonably priced house that isn't a mansion.
Pay off my car, maybe get a new one.
Work with an investor to get a decent low risk portfolio to help the money grow.
10 million for each of my children in a trust fund that they can have at 30... and 5 million at 18 for education and living expenses only
I would stop working, and start enjoying more time with my family.
I would return to school and get some of the degree's I've wanted to study.
and I think lastly I would donate a good 10 million to a few charities including Diabetes & Cancer research.
I would not change much about my life other than not having to worry about bills and such, I would just take the time to smell the roses and such. And just enjoy life.
Hmm 216 Million...
I would buy a house, a resonably priced house that isn't a mansion.
Pay off my car, maybe get a new one.
Work with an investor to get a decent low risk portfolio to help the money grow.
10 million for each of my children in a trust fund that they can have at 30... and 5 million at 18 for education and living expenses only
I would stop working, and start enjoying more time with my family.
I would return to school and get some of the degree's I've wanted to study.
and I think lastly I would donate a good 10 million to a few charities including Diabetes & Cancer research.
I would not change much about my life other than not having to worry about bills and such, I would just take the time to smell the roses and such. And just enjoy life.
Why cant someone like you win the lottery!? instead of these people going broke in a couple years?!
______________________________
What if Paul Revere was like the boy who cried wolf....?
Originally posted by Hazmal
What does he say when people ask what he did? "My mommy was irking me yo - I wanted to keep pwning nubs on my xbox, so I roughed her up with a hardshell. That is just how I roll."
if I had enough money I would design a rollercoaster with two coasters racing next to eachother...
but the cool part would be when the coasters go into a dark room and coaster #1 drives through a hologram of coaster #2 and vice versa.
what I wonder is whether or not it would be possible with only using mirrors like in this youtube
I also have some pretty crazy ideas to spruce up putt putt courses (very expensive)
I'd buy Lord of the Rings and see if it's worth it. Then I would put the rest in my mattress, since putting it in the bank seems fairly risky.
Oil, Tabacco and Bank Stock I expect.
if I had 216 million (after taxes of course -.o). since I already have pretty much everything I need or want for myself, I would first buy some more land and have it zoned commercially and I would open up some small shops there with a home town feel to them like cottages, with a nice outdoor garden area to be able to spend a relaxing lunch in the afternoon selling only items completely crafted in the US, allowing crafters to have a good place to sell their wares and providing a nice atmosphere to the community . I would keep the fees competitvely priced so that it would still be very affordable to local crafters and restaurants.I would then use the profits from that to help fund the housing project in the area .
The hosting of the craft shows here has brought in some funding for the program already, but this would accomplish alot more at once, and provide both steady income and jobs for the community.
Oh yea and if I ever raise enough money I will build that wall behind the ball fields to block out that unpleasant view and invite all local schools to bring their best art students to paint on the wall the history of baseball. I would also invite local gardeners and landscapers to build their own gardens in the area where I would then place a plaque advertising each of their businesses in their garden. I would help with park maintence fees but request the gardeners and landscapers tend to their own gardens.
A million huh? Hmmm...you know...I dunno what I would do with it. Seriously....I guess I would just be happy not to have to work the rest of my life and could just veg about all the time from to much devils cabbage. You know just live. LOL!
With the 1 Million:
I'd get a house that I could stick my parents into so that they'd have a place to grow old. This in turn would pretty much clear my conscience and I wouldn't have to worry about what they're going to do in their "golden" days.. That and I could give them the "while you live under my roof" speac.
216 Million:
This is a more elaborate version of the one up above. I'd make sure that my imediate family is well taken care of first. Make sure they're all good and would have as few worries as possible. Then I'd buy a nice motorcycle and just pick a direcion and ride. Grab a bunch of buddies and just go cruise the world. I don't think I could live in any one particular location. I'd end up living in all sorts of places a bit at a time. I think I'd ride down to New York and hang there for a few months, then make my way down the Eastern Seaboard and hit the places along the way. At that point I'd then turn toward the west and really see for myself what the southern USA is about first hand. Eventually I'd end up in Kaleefornyuh!
Afterward I'd just start tinking on a global scale. I'd wanna go to Bali and learn to surf. Visit some cousins in Australia I have not seen in 10 years and figure out all sorts of other crazy fun stuff to do. I'd have all the time in the world without much worry. I could do a lot.
No required quests! And if I decide I want to be an assassin-cartographer-dancer-pastry chef who lives only to stalk and kill interior decorators, then that's who I want to be, even if it takes me four years to max all the skills and everyone else thinks I'm freaking nuts. -Madimorga-
Hmm now wouldn't be the best time to win the lottery for me :P I am going into the airforce in three months so I wouldn't be able to appreciate it to its fullest. However once I was actually able to use it I think that I would probably buy a decent house and set up a studio for my art hobbies and then eventually start going to all those places around the world that I have wanted to. The rest I would save and live normally.
Umm I don't live in America... I don't have to cop ridiculous taxes.
O_o o_O
Umm I don't live in America... I don't have to cop ridiculous taxes.
One million dollars is not very much money.
If you paid yourself from the principal 1,000,000 60,000 a year in salary, which is roughly lower-middle class in the USA, you could only live on that for around 16 years, assuming no other "expenses" emerged where you would need more.*
You would still have to work.
*Edit: 60,000 a year in most places in the USA is lower-middle class. In some places, it could be middle-class. An aside: if the dollar continues to strengthen, which I expect it will not (especially when (1) bail-out money and (2) stimulus money are unleashed in the market) 60,000 a year would not be bad. The high expense would, of course, be food, mortgage (assuming you did not use principal to purchase a home and borrowed off the principal for a decent interest rate), utilities, and gasoline. You would "feel" rich, like you had one million dollars, and you would spend like it... and very, very quickly go broke. Happens about 100% of the time with lottery winners and those who inherit money without restrictions.
Umm I don't live in America... I don't have to cop ridiculous taxes.
One million dollars is not very much money.
If you paid yourself from the principal 1,000,000 60,000 a year in salary, which is roughly lower-middle class in the USA, you could only live on that for around 16 years, assuming no other "expenses" emerged where you would need more.*
You would still have to work.
*Edit: 60,000 a year in most places in the USA is lower-middle class. In some places, it could be middle-class. An aside: if the dollar continues to strengthen, which I expect it will not (especially when (1) bail-out money and (2) stimulus money are unleashed in the market) 60,000 a year would not be bad. The high expense would, of course, be food, mortgage (assuming you did not use principal to purchase a home and borrowed off the principal for a decent interest rate), utilities, and gasoline. You would "feel" rich, like you had one million dollars, and you would spend like it... and very, very quickly go broke. Happens about 100% of the time with lottery winners and those who inherit money without restrictions.
I also said I would work part-time :P
O_o o_O
i'll deposit a half , and another for shopping, crazy shopping, ahahahah
i'll buy me a island, and build a house with all the modern furniture in it. then i'll stay in the house, sometimes i'll invite my friends onto the island and have party.
Buy a house in Narvik Norway and try to get my immigration to Norway set up. Buy a few CDs to learn Norwegian.
Or....
The same idea for Sweden or Iceland.