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Posted on 2/21/18 at 11:17 am to lsupride87
ok, there is a single house for 1.15
Posted on 2/21/18 at 11:17 am to GEAUXT
quote:
You inherit $5 million tax free, what changes?
Payoff car, payoff house.
Quit job.
Do side consulting work as needed until I figure out what i want to start on my own.
Posted on 2/21/18 at 11:19 am to GEAUXT
Lots of drugs
Posted on 2/21/18 at 11:19 am to GEAUXT
quote:Nah
ok, there is a single house for 1.15
Posted on 2/21/18 at 11:20 am to GEAUXT
I wouldn't work as much as I do now. I work 6 days a week with long hours M-F. No way would I be working Saturdays anymore.
I'd pay off my mortgage and probably put in a pool.
Take some bad arse vacations, travel around to watch LSU and Saints away games.
Maybe get a ski boat.
I'd pay off my mortgage and probably put in a pool.
Take some bad arse vacations, travel around to watch LSU and Saints away games.
Maybe get a ski boat.
Posted on 2/21/18 at 11:21 am to fallguy_1978
quote:
I'd quit my job and live off of the interest.
Pretty much this. At 2% per year that's 100K. I might buy a little real estate, something like a 500K rental complex just to diversify a little. With all the free time in the world now I'd probably be at the golf course everyday & traveling constantly.
Posted on 2/21/18 at 11:22 am to GEAUXT
quote:
what changes?
My address and phone number.
Posted on 2/21/18 at 11:22 am to TigerSaints318
$5MM tax free is some decent coin
In a most conservative investment strategy, that money would make $100,000 a year for you. With 14% cap gains tax, you are playing with $7,000 a month take home without ever touching the principal.
In a most conservative investment strategy, that money would make $100,000 a year for you. With 14% cap gains tax, you are playing with $7,000 a month take home without ever touching the principal.
This post was edited on 2/21/18 at 11:29 am
Posted on 2/21/18 at 11:27 am to GEAUXT
1. Quitting my job then work harder on finding something I really enjoy
2. Bang more chicks
3. Trading camry for 4runner
4. I go from stressed to happy and optimistic
5. Pay off parents house
2. Bang more chicks
3. Trading camry for 4runner
4. I go from stressed to happy and optimistic
5. Pay off parents house
This post was edited on 2/21/18 at 11:29 am
Posted on 2/21/18 at 11:28 am to GEAUXT
quote:
You inherit $5 million tax free, what changes?
My workday; it would become extinct
Posted on 2/21/18 at 11:28 am to RogerTheShrubber
quote:
I'd lie to buy Rockwell Lighthouse. Think it's a B&B, in Sitka Sound on an island. When I was there last it was for sale for $850K
Jesus Christ, that's an absurdly beautiful place. How far is the nearest grocery store, can you get decent internet service, and what's it look like in the middle of winter?
Posted on 2/21/18 at 11:31 am to GEAUXT
I would have some fun but I would also help out a lot of needy families.
Posted on 2/21/18 at 11:39 am to GEAUXT
$4,999,900 crack party
Posted on 2/21/18 at 11:42 am to GEAUXT
Wife and I have had these fun "what if we win 5 million in the lottery" type discussions. (No chance of inheritance like that here). Assuming we clear 5 million after taxes:
1) She (no pics) would quit her teacher job
2) We would pay off our current mortgage (around 150K) and gift the house to my sister. She has a crappy housing/living situation in another state, and that would get her and my nieces back in LA.
3) We would build a new home (spending no more than 500K).
4) We would take 1 million and put it into a family foundation for investment and future charitable giving
5) We would take up to 500K and use it to start a family business of my wife's choosing. She has had some ideas in the past.
6) We would take another 500K and start a investment company that makes small loans/investments in local companies that need funding. Like a small scale shark tank
7) sell current cars, buy two new cars, take the family to Europe for a couple of weeks
8) Everything left would go into the stock market
I would not quit my job.
1) She (no pics) would quit her teacher job
2) We would pay off our current mortgage (around 150K) and gift the house to my sister. She has a crappy housing/living situation in another state, and that would get her and my nieces back in LA.
3) We would build a new home (spending no more than 500K).
4) We would take 1 million and put it into a family foundation for investment and future charitable giving
5) We would take up to 500K and use it to start a family business of my wife's choosing. She has had some ideas in the past.
6) We would take another 500K and start a investment company that makes small loans/investments in local companies that need funding. Like a small scale shark tank
7) sell current cars, buy two new cars, take the family to Europe for a couple of weeks
8) Everything left would go into the stock market
I would not quit my job.
Posted on 2/21/18 at 11:42 am to GEAUXT
Pay off my mortgage/car note/student loans, but that's mostly it.
Posted on 2/21/18 at 11:42 am to GEAUXT
I'd have a new truck, a gangsta arse center console boat, and no debt. Beyond that, try to invest it.
Eta: basically id blow about 600k and be productive with the rest
Eta: basically id blow about 600k and be productive with the rest
This post was edited on 2/21/18 at 11:43 am
Posted on 2/21/18 at 11:49 am to TigerstuckinMS
quote:
Jesus Christ, that's an absurdly beautiful place. How far is the nearest grocery store, can you get decent internet service, and what's it look like in the middle of winter?
Island is probably a quarter mile from town, which has around 9,000 residents. You can kayak to Crescent Harbor where the pic was taken. It's an insanely gorgeous town. On an island itself. Has a dormant volcano, gets very little snow in winter.
Posted on 2/21/18 at 11:58 am to ellishughtiger
quote:
$5million tax Free would be less than ive already inherited. I would have to cut back on some lifestyle choices.
You really didn't think that one thru, did ya?
Posted on 2/21/18 at 11:59 am to GEAUXT
My father in law passed away about 6 months ago. Prior to his passing, he was a 1/2 interest in a trust worth a lot of money. Now my wife is a 1/4 interest in the trust that total would be worth shy of that amount. It's all real estate in California, but she gets a monthly check and a lump sum every now and again when the valuation reaches a certain amount. I'm retired from the military and we still do our normal 40 hour jobs.
The trustee has been in talks about selling a commercial property and if that happens, we still will work but might retire earlier.
The trustee has been in talks about selling a commercial property and if that happens, we still will work but might retire earlier.
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