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re: If you had $1 million what would you do with it?
Posted on 5/9/15 at 7:37 am to foshizzle
Posted on 5/9/15 at 7:37 am to foshizzle
Exactly my point as well. Investing in diversified assets is a whoole lot less risky than starting and investing it all in your own business.
Also to the fella who said his finance teacher would invest in into 8% muni's.. Find another teacher. A) you'do be lucky to find yields of half that for 30 yr maturities. B) when those bonds mature, he gets $1mill vs us other guys wh invested and got a 7% compounded return and ended up with $4mill.
Also to the fella who said his finance teacher would invest in into 8% muni's.. Find another teacher. A) you'do be lucky to find yields of half that for 30 yr maturities. B) when those bonds mature, he gets $1mill vs us other guys wh invested and got a 7% compounded return and ended up with $4mill.
2
Posted on 5/9/15 at 7:50 am to foshizzle
quote:
If the interest rate is low enough, it may be worthwhile if the money can be invested at a higher rate. Many fortunes have been made this way.
Mathematically it makes sense. Unless of course you make some bad investments.
Personally I'd pay off my house which is the only debt I have at the moment. I'd probably keep about 50K on hand as short term savings cushion, and invest the rest in something I couldn't touch. Continue working and retire in about 20 years.
Posted on 5/9/15 at 10:01 am to Lsut81
quote:
In 10yrs at 7% return, all of my accounts have averaged at least that over the past 10yrs, 990k turns into almost 2m.
That would be nice!
$1 million would probably speed up retirement time 10-15 years.
Posted on 5/9/15 at 10:13 am to Oenophile Brah
quote:
That would be nice!
$1 million would probably speed up retirement time 10-15 years.
Ummm, easily... That 990k turns into 3.8m over 20yrs at 7% return.
Thats if you didn't contribute another dime.
Posted on 5/9/15 at 10:50 am to player711
fast cars, fast women, the rest I would spend foolishly.
Posted on 5/9/15 at 12:08 pm to Shepherd88
quote:
Also to the fella who said his finance teacher would invest in into 8% muni's.. Find another teacher. A) you'do be lucky to find yields of half that for 30 yr maturities.
Yup, unless you get into some really risky stuff.
quote:
B) when those bonds mature, he gets $1mill vs us other guys wh invested and got a 7% compounded return and ended up with $4mill.
Not if he's taking the $40m every 6 months and buying more bonds.
Posted on 5/9/15 at 12:16 pm to player711
quote:1. Convert it to $100 bills.
If you had $1 million what would you do with it?
2. Buy suitcases.
3. Deliver to my kids.
Posted on 5/9/15 at 12:33 pm to kywildcatfanone
quote:
Buy a 2nd home in Florida or SW Alabama and invest the rest. Retire tomorrow.
How old are you? Retire with a second home?
Posted on 5/9/15 at 12:47 pm to player711
travel the world
with interest/returns I figure I could blow $40 grand a year on vacations for the next 30 years
with interest/returns I figure I could blow $40 grand a year on vacations for the next 30 years
Posted on 5/9/15 at 12:54 pm to player711
Like a lot of people I worked for almost 40 years in several professions making decent money, and investing consistently the entire time. At age 56 I walked away with more than a million dollars and continue to do the same things that worked before. I am invested in small, mid, and large cap index funds, and a international fund. Real Estate is too much trouble for me, have no desire to deal with people, starting a business is also not for me, too much risk, and I have no desire to work full time.
Posted on 5/9/15 at 2:57 pm to player711
First and foremost, take a badass trip somewhere. Then buy a cheap duplex. Invest half of the remaining into my current business undertaking, and the other remaining half stick into the market.
Posted on 5/9/15 at 3:07 pm to LSUtigerME
quote:
Pay off some debt to clean up finances, maintain some debt.
That makes no sense to me.
Posted on 5/9/15 at 3:11 pm to Lsut81
quote:Just curious, what type of accounts do you have? I'm new to investing. That sounds like a great return!
7% return, all of my accounts have averaged at least that over the past 10yrs
Posted on 5/9/15 at 4:50 pm to Patrick_Bateman
quote:
Just curious, what type of accounts do you have? I'm new to investing. That sounds like a great return!
Mixture of Vanguard accounts... If you can do it, get into the admiral shares, only .05% cost
quote:
That makes no sense to me.
And yes, its not a bad thing to have debt, especially if you have it at a lower rate than you can earn in the market.
This post was edited on 5/9/15 at 4:56 pm
Posted on 5/9/15 at 7:22 pm to Patrick_Bateman
quote:
quote:
Pay off some debt to clean up finances, maintain some debt.
That makes no sense to me.
Do you enjoy the teachings of the great Dave Ramsey?
It's quite simple. It's basically using your existing debt to leverage additional capital in the market. Same thing as margin investing.
Posted on 5/9/15 at 7:37 pm to LSUtigerME
It makes sense now.
Posted on 5/9/15 at 8:13 pm to player711
pay off the house = 250 K
invest = 550 K
give =100K
enjoy= 100K
invest = 550 K
give =100K
enjoy= 100K
Posted on 5/9/15 at 9:06 pm to makersmark1
I would be ashamed that I lost so much money and only had $1M left.
Posted on 5/9/15 at 10:00 pm to Shepherd88
quote:
Also to the fella who said his finance teacher would invest in into 8% muni's.. Find another teacher. A) you'do be lucky to find yields of half that for 30 yr maturities.
It should be quite easy to find muni yields like that. I haven't checked current rates but would be unsurprised if general obligation bonds for the City of Detroit yield much higher than that.
Of course, there's the little matter of wondering if you'll ever see a dime of principal.
Posted on 5/10/15 at 1:19 am to player711
Invest it in a portfolio with a long term 5-7% growth rate for about 20 years and then retire at 55. I'd travel after that.
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