- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
What would you do with $1,000,000?
Posted on 7/4/16 at 5:12 pm
Posted on 7/4/16 at 5:12 pm
Assume you own no assets and have no debt or liabilities. You are moving to a new city with a wife, a kid, and $1,000,000 cash in tow.
What do you do with it, and why?
ETA: Forgot to mention, you do have a job that pays well.
What do you do with it, and why?
ETA: Forgot to mention, you do have a job that pays well.
This post was edited on 7/5/16 at 1:40 am
21
Posted on 7/4/16 at 5:48 pm to PenguinNinja
Same thing I did with the first 7,000,000. Moved to a new city, got a new wife, new home, and a new girlfriend.
This post was edited on 7/4/16 at 5:50 pm
Posted on 7/4/16 at 5:52 pm to PenguinNinja
For me, I'd buy out my annoying neighbor, knock down the dividing backyard wall fence, and do a few flips.
Posted on 7/4/16 at 6:53 pm to PenguinNinja
What kind of wife are we talking about?
Posted on 7/4/16 at 7:32 pm to PenguinNinja
Two chicks at the same time, then, nothing at all.
Posted on 7/4/16 at 7:44 pm to PenguinNinja
Pay cash for a desirable property. Put whatever's left in an index fund.
Posted on 7/4/16 at 8:23 pm to PenguinNinja
1) Pay off all debts of any kind
2) $50,000 college fund for each kid
3) Throw away all random crappy disposable ziploc leftovers containers and buy a bunch of them that reasonably match
4) Get a new car, something under $40,000 with great reliabilty that I can keep for 10 years
5) Finish replacing all lights in house with LEDs with dimmers
... Then invest the rest in index funds.
2) $50,000 college fund for each kid
3) Throw away all random crappy disposable ziploc leftovers containers and buy a bunch of them that reasonably match
4) Get a new car, something under $40,000 with great reliabilty that I can keep for 10 years
5) Finish replacing all lights in house with LEDs with dimmers
... Then invest the rest in index funds.
Posted on 7/4/16 at 9:00 pm to PenguinNinja
"2 chicks at the same time"
Posted on 7/4/16 at 9:07 pm to PenguinNinja
Put $5500 in a Roth. Then buy several Lamborghinis. Give them to my kids and tell them to have fun. Develop a drug problem.
Posted on 7/4/16 at 10:42 pm to PenguinNinja
quote:
PenguinNinja
quote:
Assume you own no assets and have no debt or liabilities. You are moving to a new city with a wife, a kid, and $1,000,000 cash in tow.
What do you do with it, and why?
80% - Invested in shite I can't touch till retirement
15% - Pay off my principal balance on my home and every bill we owe.
2.5% - Billy Badass vacation
2.5% - Hooks and Blow
Posted on 7/4/16 at 10:50 pm to PenguinNinja
Contribute to church if you believe in that. Pay Cash for modest house, cash for 2 used cars for wife and self. Fully fund ROTH IRA at $5,500/ea for wife and self each year. Fund 529 plan for child for college. If Louisiana $4,800/ea year for state tax deduction and state match. Put 6 months expenses in emergency fund. Purchase life insurance. Start own business if have good plan for one. If not Invest in index funds. Get jobs and work like I don't have investments because 1million really isn't as much as you think it is. Max 401k contribution at new job.
Posted on 7/5/16 at 5:40 am to PenguinNinja
I'd invest in a diversified portfolio that returns 3-5%, which would make me another mil in 20-25 years.
Then I would retire early with double the amount I had. Set up college funds for any kids I might have along the way, cash in on my real estate equity, and travel the world with my wife while our health allows.
Then I would retire early with double the amount I had. Set up college funds for any kids I might have along the way, cash in on my real estate equity, and travel the world with my wife while our health allows.
Posted on 7/5/16 at 9:15 am to PenguinNinja
quote:
you do have a job that pays well.
Does that mean $75k/year or $200k?
Have taxes been paid on the $1MM?
I'd put $80-100k per kid in an educational trust, conservatively invest $500k for retirement, and use the rest to live moderately better than I do.
This post was edited on 7/5/16 at 9:19 am
Posted on 7/6/16 at 10:23 am to PenguinNinja
Is this 1 mil before or after taxes?
Assuming it's after, I'd buy a moderate house, pay cash, and take the rest and start a new business.
Assuming it's after, I'd buy a moderate house, pay cash, and take the rest and start a new business.
Posted on 7/6/16 at 10:48 am to PenguinNinja
Pay off personal debt
Make fiancé sell her little Caddilac ATS and buy something that a grown human can sit in the back seat of
Spend about 50k on our house
Buy a Cessna and get my pilots license
Establish a nice emergency fund, and invest some
Start an agricultural service business, focusing on harvesting and fertilizer application. Use that as leverage to become a partner in the farm I manage, so we can become a more diversified company rather than just row crop production.
Eta: This is assuming it's after taxes
Make fiancé sell her little Caddilac ATS and buy something that a grown human can sit in the back seat of
Spend about 50k on our house
Buy a Cessna and get my pilots license
Establish a nice emergency fund, and invest some
Start an agricultural service business, focusing on harvesting and fertilizer application. Use that as leverage to become a partner in the farm I manage, so we can become a more diversified company rather than just row crop production.
Eta: This is assuming it's after taxes
This post was edited on 7/6/16 at 10:49 am
Posted on 7/6/16 at 2:32 pm to PenguinNinja
Quit my current job. Spend 100K on training for my dream job. Invest/save the rest.
Posted on 7/7/16 at 1:30 pm to PenguinNinja
Buy as much redbull and bath salts as I could and see where the night takes me
Posted on 7/7/16 at 8:18 pm to PenguinNinja
This is a tough question, I already have most of the usually boxes checked. I am retired with adequate income, own a house that is paid for, kids are gone, their college paid for long ago, have several decent paid for vehicles, have already owned a airplane and a couple of sports cars, have been to most every place in the world I ever wanted to go.
Assuming this was after taxes, probably buy a modest beach condo in the 275-300K range, become a regular beach comber, then use the rest to send my wife away on frequent long trips
Assuming this was after taxes, probably buy a modest beach condo in the 275-300K range, become a regular beach comber, then use the rest to send my wife away on frequent long trips
Posted on 7/8/16 at 10:35 pm to PenguinNinja
$300,000 in:
KMB
PG
KO
ADM
T
VZ
V
$250,000 in a Vanguard an age specific fund
$200,00 in DOGIX
$250,000 in cash for buying opportunities
KMB
PG
KO
ADM
T
VZ
V
$250,000 in a Vanguard an age specific fund
$200,00 in DOGIX
$250,000 in cash for buying opportunities
Posted on 7/9/16 at 7:47 am to PenguinNinja
Max retirement
Buy rental properties
Live off rental income
After that:
Become "someone who matters" to politicians
Have them curry favor to me for campaign contributions
Get bills, etc passed that will assist my business interests
???
(even more) profit
Buy rental properties
Live off rental income
After that:
Become "someone who matters" to politicians
Have them curry favor to me for campaign contributions
Get bills, etc passed that will assist my business interests
???
(even more) profit
This post was edited on 7/9/16 at 7:53 am
Page 1 of 2
Popular
Back to top
Follow TigerDroppings for LSU Football News