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What would you do with a 1 million dollars?

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Affalterbach
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#31

Posted 27 March 2017 - 01:25 PM

Since you cant life of off 1 million, i wouldnt spend it all. I probably would invest in a gas-station. Its my dream to own one, one day.

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#32

Posted 28 March 2017 - 04:48 PM

Well, assuming this $1M is a winning rather than something you've earned and accumulated over time, I could get creative here.

 

1. Hire a lawyer. This is especially important when an individual wins the lottery - depending on the state or federal laws you'll have a certain amount deducted...but for keeping things simple let's pretend a tax on this winning doesn't exist. $1,000,000 winnings with no strings attached - I would hire a lawyer immediately to ensure any future ventures or investments go smoothly (as well as to protect myself from any competition)

 

2. Subtract $100,000, put it in my bank account. This is basically fun cash that I can do whatever with.

 

That leaves me with $900,000 (again going with the no tax rule.) Next I would...

 

3. Subtract $750,000 and use it to invest. The outcome will obviously vary depending on what you invest in and the time that you do. Some people come out fine, others go homeless after investing in fads - so ideally it would be short sparks in very concentrated industries. This leaves me with $150,000, which I would invest in a Roth IRA. This also covers my behind in case the $100,000 "fun cash" is used up by then.

 

4. Wait a really long time and stay frugal with the $100,000 fun cash. Assuming you invested in the right places, your lawyer covered anything scary, and you left the Roth IRA alone until you've lived beyond about 50 (assuming you make it there anyway) everything should be on the up and up. Or 7th is just really bad at finances and he'll be left penniless

I'd do similar to what you'd do, only I'd handle the finances a bit differently.

- 600k for investments

- 100k as money I wouldn't touch/in case of emergencies

- 50k to charity

- 250k spending money for things such as:

 

1) Buying a crap ton of music albums online that I've listened to over the years, supporting all the wonderful bands that have brought me such joy;

2) Get in contact with band booking organizations and try to get more/specific bands to come play/tour in our country, to share my love of rock n' roll and heavy metal with the rest of my people;

3) Apartment and car of my own

4) Figure out what else I'd want

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Scaglietti
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#33

Posted 28 March 2017 - 07:28 PM Edited by Scaglietti, 28 March 2017 - 07:30 PM.

1) Pay down college loans. ($40k maybe?)
2) Ford Focus RS or used Lexus GSF (haha depends would be my first car). ($whatever the RS costs or $67k.)
3) Big down payment on a small but really nice one story on the north side of town. (that house would cost from $190-350k with latter being really nice.)

If I'd have any left I'd save it and/or invest it.

Leftist Bastard
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#34

Posted 28 March 2017 - 07:31 PM

Since you cant life of off 1 million, i wouldnt spend it all. I probably would invest in a gas-station. Its my dream to own one, one day.

Assuming you'll spend a modest 50,000 a year [IIRC its the average income of an American household] it should last you a solid 20 years without any work at all.

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feckyerlife
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#35

Posted 28 March 2017 - 07:35 PM

Well, assuming this $1M is a winning rather than something you've earned and accumulated over time, I could get creative here.

 

1. Hire a lawyer. This is especially important when an individual wins the lottery - depending on the state or federal laws you'll have a certain amount deducted...but for keeping things simple let's pretend a tax on this winning doesn't exist. $1,000,000 winnings with no strings attached - I would hire a lawyer immediately to ensure any future ventures or investments go smoothly (as well as to protect myself from any competition)

 

2. Subtract $100,000, put it in my bank account. This is basically fun cash that I can do whatever with.

 

That leaves me with $900,000 (again going with the no tax rule.) Next I would...

 

3. Subtract $750,000 and use it to invest. The outcome will obviously vary depending on what you invest in and the time that you do. Some people come out fine, others go homeless after investing in fads - so ideally it would be short sparks in very concentrated industries. This leaves me with $150,000, which I would invest in a Roth IRA. This also covers my behind in case the $100,000 "fun cash" is used up by then.

 

4. Wait a really long time and stay frugal with the $100,000 fun cash. Assuming you invested in the right places, your lawyer covered anything scary, and you left the Roth IRA alone until you've lived beyond about 50 (assuming you make it there anyway) everything should be on the up and up. Or 7th is just really bad at finances and he'll be left penniless

you forgot about step 1, the lawyer fee.


Since you cant life of off 1 million, i wouldnt spend it all. I probably would invest in a gas-station. Its my dream to own one, one day.

no money in gas stations. you only make pennies off the gallon, you make more on sales from inside the store.  but you can life off the million easy.


Affalterbach
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#36

Posted 29 March 2017 - 02:47 PM Edited by Affalterbach, 29 March 2017 - 02:47 PM.

Since you cant life of off 1 million, i wouldnt spend it all. I probably would invest in a gas-station. Its my dream to own one, one day.

Assuming you'll spend a modest 50,000 a year [IIRC its the average income of an American household] it should last you a solid 20 years without any work at all.

 

Since you cant life of off 1 million, i wouldnt spend it all. I probably would invest in a gas-station. Its my dream to own one, one day.

no money in gas stations. you only make pennies off the gallon, you make more on sales from inside the store.  but you can life off the million easy.
Yeah you can easily life off the million, only if you dont spend any of that money on other things... So that means you have a million, but no luxury. Gas stations do make good money, and if it has a shop its a win win. It all depends on the location tho.

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#37

Posted 29 March 2017 - 07:18 PM

I was gonna say "buy a Zonda Cinque" but I realized that I would need $13 million more for that...
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#38

Posted 29 March 2017 - 08:50 PM

Give it to charity and use it to help the poor

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#39

Posted 29 March 2017 - 11:16 PM

Just a million? Oh right you mean real life and not GTA lol

I'd probably buy me a sleek looking super car and then use the rest of the $$$ to buy a mansion. I'm selfish yeah idfc.

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#40

Posted 30 March 2017 - 10:00 PM

I would probably buy a very nice camera and travel around the world, capturing the beauty everywhere, then buy a house somewhere. And with the pictures I collected I'll make a book and earn money with it. Oh, and I would go to a lot of concerts, a lot of them.

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#41

Posted 30 March 2017 - 10:53 PM

drugs. lots of drugs. and punch bjork in the face, not necessarily in that order.


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#42

Posted 30 March 2017 - 11:04 PM

I would probably buy a very nice camera and travel around the world, capturing the beauty everywhere, then buy a house somewhere. And with the pictures I collected I'll make a book and earn money with it. Oh, and I would go to a lot of concerts, a lot of them.


Traveling the world sounds fun. I'd go to Germany and find my birthplace or something. With all else set and savings/investments I would have the money and time to travel going off of what I said in my last post.

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#43

Posted 31 March 2017 - 03:17 AM

Pay my debts, get a reliable car, go back to school—multiple times


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#44

Posted 31 March 2017 - 06:38 AM

Buy a few games that fetch for high prices on eBay, then use the rest to live life pretty decently for a while.


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#45

Posted 31 March 2017 - 09:14 AM

Turn it into 100 million pennies then throw them all off the top of the Empire State building. 

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Acid Burn
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#46

Posted 31 March 2017 - 10:00 AM

^ I carried roughly £100's worth of 1/2p's in a bag to those machines that exchange it for cash and afterwards it felt like I'd done a training session with mid 80's ripped Arnie, good luck with 100 million of the f*ckers.


Fuzzknuckles
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#47

Posted 31 March 2017 - 10:18 AM

^ I carried roughly £100's worth of 1/2p's in a bag to those machines that exchange it for cash and afterwards it felt like I'd done a training session with mid 80's ripped Arnie, good luck with 100 million of the f*ckers.

Maybe I'll hold back a grand or two to pay for some burly men (or women, this is 2017) to carry that sh*t for me. 


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#48

Posted 31 March 2017 - 10:51 AM

Buy so many movies on Blu Ray I could literally sleep on them.


Fuzzknuckles
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#49

Posted 31 March 2017 - 10:56 AM

That wouldn't be very comfortable. 

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#50

Posted 05 September 2017 - 05:38 PM

I'd let it work for me, so it can produce many of its twins.

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#51

Posted 05 September 2017 - 06:00 PM

I would try and change my life as little as possible...

I would also consider using some to take R* to the small claims court to get those PC players their money back from the thieving gits.

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#52

Posted 05 September 2017 - 07:33 PM

With that kind of money i would be a king over here lmao
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Hullian111
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#53

Posted 05 September 2017 - 07:34 PM

Well,not me, but pay mortgage, get better car, bed, maybe new house, and for me, hopefully get out of this hellhole of a country.

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#54

Posted 05 September 2017 - 07:37 PM

Ha, $1 million dollars wouldn't even buy a nice house here in BC.  It is beyond retarded.  Look up real estate prices and Vancouver, I mean it is the most beautiful place to live but it's not that beautiful!

 

But to answer the question I would sell my condo and buy a detached house and would still probably owe money.


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#55

Posted 06 September 2017 - 03:31 AM

Buy a house for 200k-300k so I can finally have a stable home and a place to start a family (of course I'd have to find my true love first)

Buy a NSX

Put away 200k

Invest the other 400k into a few of my ideas, short films, passions/hobbies etc.

I like to create stuff...to say the least.
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#56

Posted 06 September 2017 - 06:10 AM

I'd buy some guns and a bunch of drugs lol.

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#57

Posted 06 September 2017 - 09:34 AM

 

Hold the world for ransom obviously.

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#58

Posted 06 September 2017 - 09:42 AM

i'd like to say i'd live moderately and invest it all carefully in stocks and high interest bank accounts but given where i live in the jolly old north of the UK i'd dead in a week from either being stabbed and robbed or a drug overdose


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#59

Posted 06 September 2017 - 06:30 PM

-Buy a nice house

-Create an independant media to fight among other things against the inequalities

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#60

Posted 06 September 2017 - 08:45 PM

A million would be plenty enough for me. Where I live, 250k would get you a 5 bedroom, waterfront house. Why would I even need that? I wouldn't. But it would be more than satisfactory. What would I do with the rest? Buy a nice Jag, spend a further, I dunno, 150k securing my family's future, and done. The rest would be spent on the occasional holiday - which I hate anyway - and making sure my bills were covered instead of pissing it away on something that isn't necessary.
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