View Full Version : What wouldn't you do if you won a million dollars
Imagineering
10-30-2010, 02:03 AM
?
psykhe
10-30-2010, 02:45 AM
Uhm, be frugal. :p
IotaNull
10-30-2010, 02:51 AM
Buy something that costs significantly more than a million dollars.
Imagineering
10-30-2010, 02:53 AM
I wouldn't tell anyone.
Mogura
10-30-2010, 04:17 AM
Irresponsibly squander it...
blatant
10-30-2010, 04:25 AM
spend it. that money goes straight to the bank and into various investments.
areyaaradi
10-30-2010, 04:45 AM
Stare at that patek phillipe watch I like and not buy it.
vytska
10-30-2010, 05:35 AM
Isn't it obvious? Invest it, million is just a dip in the sea.
Ultimawepun
10-30-2010, 05:59 AM
Burn it. Doi.
SelfMadeBum
10-30-2010, 06:39 AM
Throw the cash on the bed and roll around in it, nekkid.
Or would I... :thinking:
GrnEyz
10-30-2010, 06:54 AM
Give it away or buy lavish gifts for others.
Properly invested... you can eliminate all debt and never have to work again.
Savagelight
10-30-2010, 07:04 AM
?
A million dollars isn't really a lot of money but it's just enough money to change my life for the better.
1. I'd pay off my college debt.
2. I'd invest $200,000 to starting and running my business.
This would cost $250,000 so far so I'd still have $750,000. I would save $400,000 to use for clever investments. This would leave me with $350,000 to live off. If I live off approximately $50,000 a year, this $350,000 would last approximately 8 years. I would spend it going to college to get a phd possibly while I run my business. I'd expect to have the phd in 3 years or less and I'd expect the business to be profitable by that time so I'd give myself 3 years of running the business to profitability.
Once my business is profitable I'd collect a salary as CEO that starts at $50,000 a year, and that grows according to profitability of my business. So if profits double so will my salary, if it triples so will my salary, and so on. Eventually I could be making hundreds of thousands of dollars a year running my business and I won't even care about the million dollars I started with, and by running the business I'll be able to explain to friends and family how I'm able to afford all that stuff, and I'd be able to help friends and family by providing them with jobs down the road.
---------- Post added 10-30-2010 at 06:05 AM ----------
Give it away or buy lavish gifts for others.
Properly invested... you can eliminate all debt and never have to work again.
That is not true. $1 million dollars is not enough to never have to work again. Interest on 1 million dollars is not that great.
---------- Post added 10-30-2010 at 06:05 AM ----------
spend it. that money goes straight to the bank and into various investments.
I hope you aren't stupid enough to put it all in one bank.
GrnEyz
10-30-2010, 07:10 AM
That is not true. $1 million dollars is not enough to never have to work again. Interest on 1 million dollars is not that great.
O contrar... it is more than enough. Putting it in a bank isn't the best investment.
You can easily make 10 percent ($100K per year) with stocks and bonds. There are many bonds that pay 10 percent will moderate risk.
blatant
10-30-2010, 07:17 AM
I hope you aren't stupid enough to put it all in one bank.
Don't give financial advice if you aren't wealthy. :P
Savagelight
10-30-2010, 07:34 AM
O contrar... it is more than enough. Putting it in a bank isn't the best investment.
You can easily make 10 percent ($100K per year) with stocks and bonds. There are many bonds that pay 10 percent will moderate risk.
Which stocks and bonds? The economy is very volatile fundamentally, I haven't seen any stocks and bonds which are performing that well over long periods of time. When the next crash comes what are you going to do?
I was thinking buy some gold and silver.
Sawa Hinuyo
10-30-2010, 08:02 AM
"Why?"
On another note: I'm noticing that being 'wealthy' sounds a bit like a complicated thing...
GrnEyz
10-30-2010, 08:28 AM
Which stocks and bonds? The economy is very volatile fundamentally, I haven't seen any stocks and bonds which are performing that well over long periods of time. When the next crash comes what are you going to do?
I was thinking buy some gold and silver.
Use a bond screener (To view links or images in this forum your post count must be 2 or greater. You currently have 0 posts.) to select what you're looking for...
Imagineering
10-30-2010, 01:27 PM
"Why?"
On another note: I'm noticing that being 'wealthy' sounds a bit like a complicated thing...
Being a poor, debt-free wanderer is the ultimate goal.
Booko
10-30-2010, 01:44 PM
Pay off any debts I have. Probably buy a small plot of land in upper Michigan and put a trailer on it so I can live in cooler weather in summer. Buy a house on Jekyll Island so I can live there in winter and rent it the rest of the year.
Everything else, which would be most of it, I'd like to invest and set up as some sort of endowment.
Noiresque
10-30-2010, 05:05 PM
invent in yourself. take much needed classes, seminars and try thousands of 'jobs' to see what would be most interesting and ideal to you. travel, spread your seeds around globally and drift around knowing you are sitting on a winning ticket to knowledge and search to define your own version of attainable 'happiness'.
i live in the philippines. so if i have 1million dollars, il convert it pesos which is around Php45 per $1. So i'll have P 45,000,000! This is enough for me not to work again. I'll just invest this or put these to different banks and/or buy a franchise. heh.
Imagineering
10-30-2010, 05:31 PM
Pay off any debts I have. Probably buy a small plot of land in upper Michigan and put a trailer on it so I can live in cooler weather in summer. Buy a house on Jekyll Island so I can live there in winter and rent it the rest of the year.
Everything else, which would be most of it, I'd like to invest and set up as some sort of endowment.
You wouldn't do this?
oh wait. i think i misread the question. the question was:
What wouldn't you do if you won a million dollars
hhmmm... i would not give it to a church (?)
Rishki
10-30-2010, 05:39 PM
Fake my death and start a new life, although I would probably need more than a million dollars.
Zombicide
10-30-2010, 05:44 PM
Use it and the money I make with it to staunchly kill as many people as possible with the intent being to exterminate the human race or at least rid the world of generic people, generic people having the mind of a chimpanzee.
Use it and the money I make with it to kill as many people as possible with the intent being to exterminate the human race.
$1 million, is i guess not enough for that
Warrior
10-30-2010, 06:42 PM
Is the question what I would do or wouldn't do?
I for sure would not buy any gold or silver.
I would tithe 10%, probably give another 10% to the church, find some cause to give another 10% to, and the remaining 20% or so I'd invest in the same funds I have today.
ktgrey
10-31-2010, 09:50 AM
Spending it is what I wouldn't do. But since this thread seems to be about talking about what we would do, well, I would go stick it in a money market fund while I go find a financial adviser. An infusion of one million dollars is certainly enough for early retirement, possibly enough for immediate retirement, and if I planned on that I would not want to invest it the same way I am investing today (would probably want to flip the stock and bond percentages).
Actually, I know what I'd do now. I'd invest half of it in various low-cost mutual funds, and then I'd take the other half to my friend Samir who works in securities.
Aronnax
10-31-2010, 10:42 AM
I wouldn't tell people I won 1M dollars.
thotpoizn
10-31-2010, 10:51 AM
What I wouldn't do...
Use the time liberated from working, to invent a new belief system designed to exploit human gullibility, then the remainder of my fortune on propagating that belief system as widely as possible.
Totally wouldn't do that, WHY, WHAT HAVE YOU HEARD?? o.O
Still Standing
10-31-2010, 11:12 AM
I wouldn't spend it all.
I wouldn't tell anybody about it.
I wouldn't stay at my current job.
I wouldn't stay at home and do nothing.
I wouldn't invest the money in risky portfolios.
I wouldn't buy any status symbols and flaunt my wealth.
SelfMadeBum
10-31-2010, 11:13 AM
Keep it all.
Alderamin
10-31-2010, 01:20 PM
Put it on the stock market.
Sawa Hinuyo
10-31-2010, 01:35 PM
Being a poor, debt-free wanderer is the ultimate goal.
... Not interested... in being poor(er than I am now).
But investing in low-risk activities (like touristic undertakings) and donating to non-profit NGO's to avoid tax obligations are apparently good ways out.
But I would have to spend a portion of it, to acquire a decent dwelling.
JTG1984
10-31-2010, 01:38 PM
I wouldn't buy Blockbuster stock.
Imagineering
10-31-2010, 01:39 PM
... Not interested... in being poor(er than I am now).
But investing in low-risk activities (like touristic undertakings) and donating to non-profit NGO's to avoid tax obligations are apparently good ways out.
But I would have to spend a portion of it, to acquire a decent dwelling.
You can live in a tiny house. You can build your own for 30k.
Faarkrog
10-31-2010, 01:59 PM
- I would not tell it to anyone except from those ranked as trusted friends.
- I would invest most of the money (~75 %) and save the rest (~25 %).
Zombicide
10-31-2010, 02:04 PM
$1 million, is i guess not enough for that
Apparently not.
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