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re: If you owned absolutely nothing and we’re given $1.1 mil cash
Posted on 2/2/20 at 10:12 am to PenguinNinja
Posted on 2/2/20 at 10:12 am to PenguinNinja
Buy a new arse, mine has a crack in it....
1
Posted on 2/2/20 at 10:14 am to PenguinNinja
49ers ML
Posted on 2/2/20 at 10:15 am to Hangover Haven
OK Boomer.
Posted on 2/2/20 at 10:16 am to PenguinNinja
I sure as hell wouldn't be going to the office here in a bit.
But seriously, I'd probably pay off all debt, buy my wife a new car, give my parents, in-laws, and brother $10,000, and then sit on the rest.
But seriously, I'd probably pay off all debt, buy my wife a new car, give my parents, in-laws, and brother $10,000, and then sit on the rest.
Posted on 2/2/20 at 10:16 am to biglego
I would call my dealers dealer
This post was edited on 2/2/20 at 10:17 am
Posted on 2/2/20 at 10:21 am to udtiger
quote:
Taxes or not? If taxed, you have about $775k
House - 400k
Car - 35k
Truck - 35k
200k invested
80k savings
25k checking account
250k house
10k vehicle
10k cash
10k vacation
5k charity
235k rental house
20k repair fund
235k rental house
Posted on 2/2/20 at 10:22 am to PenguinNinja
quote:
What would you do with it?
Generate permanent income with it.
100% serious.
Posted on 2/2/20 at 10:24 am to TigerChief10
quote:That’s definitely NOT the OT way
Get a really cheap cabin on the lake and invest the rest. I'm trying to go straight into retirement and live a simple, easy life. I dont need to ball out.
Posted on 2/2/20 at 10:25 am to PenguinNinja
Buy a modest house to live in, and invest in something that produces cashflow (stocks that earn dividends, a business, atms, duplexes, vending machines).
Posted on 2/2/20 at 10:26 am to PenguinNinja
quote:
(Question is really $1.0 mil, but allocating $100k to the obligatory hookers and blow)
I'd like to say I'd get a mortgage on a house and a reasonable car to get around and then invest the money to generate a higher rate of return than the interest rate on the two loans.
Let's be honest, though, if I owned absolutely nothing, I probably don't have the greatest financial acumen, so we'll stick with two chicks at the same time.
ETA: I'm also fricking disappointed it took until the second page to get Lawrence in play.
This post was edited on 2/2/20 at 10:30 am
Posted on 2/2/20 at 10:26 am to fallguy_1978
You could retire early on $1 million?!
Posted on 2/2/20 at 10:26 am to colorchangintiger
Less than that after he buys a house
Posted on 2/2/20 at 10:28 am to fallguy_1978
quote:
Buy a modest house and invest the rest. Retire early.
Good answer, but the guy who owns absolutely nothing probably isn't making that decision.
Posted on 2/2/20 at 10:29 am to colorchangintiger
quote:
You could retire early on $1 million?!
If had an extra 700k all of the sudden, yes, I could retire earlier.
Posted on 2/2/20 at 10:39 am to PenguinNinja
1. Pay off bills.
2. Buy a new vehicle and an old Bronco.
3. Place 50k in a savings account for my daughter's future life after college.
4. Place another 50k in a savings account for my future grandchildren's college fund.
5. Build a new house (nothing too big/fancy)
6. Place 150k in retirement.
I'm sure I don't have much left after taxes and the above list...probably less than 100k. I'd then go on a long vacation to England, Scotland, and Ireland.
2. Buy a new vehicle and an old Bronco.
3. Place 50k in a savings account for my daughter's future life after college.
4. Place another 50k in a savings account for my future grandchildren's college fund.
5. Build a new house (nothing too big/fancy)
6. Place 150k in retirement.
I'm sure I don't have much left after taxes and the above list...probably less than 100k. I'd then go on a long vacation to England, Scotland, and Ireland.
Posted on 2/2/20 at 10:44 am to lsufan9193969700
I'd also like to ask to win 2.5 million. After taxes, I would definitely retire.
Posted on 2/2/20 at 10:50 am to PenguinNinja
quote:
If you owned absolutely nothing and we’re given $1.1 mil cash
What would you do with it?
"Nothing" is relative.
Am I a hobo on the street? Or lower-middle class trying to make ends meet? Upper middle class trying to get that Country Club membership?
Posted on 2/2/20 at 10:55 am to PenguinNinja
quote:
allocating $100k to the obligatory hookers and blow
What am I supposed to do the next weekend?
Posted on 2/2/20 at 11:07 am to PenguinNinja
I’d let my parents financial advisor set me up with one of those Allen iverson type trusts
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