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re: You inherit $5 million tax free, what changes?
Posted on 2/21/18 at 1:58 pm to TheCaterpillar
Posted on 2/21/18 at 1:58 pm to TheCaterpillar
Prob the nature of my work. Not enough for me to quit working altogether. Prob try to find a professor gig somewhere.. maybe some contract stuff here and there...
0
Posted on 2/21/18 at 3:41 pm to GEAUXT
Paid off house
New fishing boat
Probably quit job
Set up a trust to pay me $5000 a month. With my military retirement and no house payment, I would be set.
New fishing boat
Probably quit job
Set up a trust to pay me $5000 a month. With my military retirement and no house payment, I would be set.
Posted on 2/21/18 at 3:48 pm to GEAUXT
quote:
what changes?
The number of times my 8 ball is stepped on.
Posted on 2/21/18 at 3:50 pm to GEAUXT
I'd do my damndest to not really adjust my lifestyle. Prob dump some money into my house and invest the rest.
Nah, JK I'd buy a shite load of cocaine and booze
Nah, JK I'd buy a shite load of cocaine and booze
Posted on 2/21/18 at 3:51 pm to GEAUXT
I'd stop ordering rail drinks.
Posted on 2/21/18 at 3:52 pm to GEAUXT
I buy TD and ban all college baseball threads.
Posted on 2/21/18 at 4:00 pm to DirtyMikeandtheBoys
quote:
you'd move to California, buy a $1.3M (26% of your inheritance) 1,300 sf home, and bank on "conservative investing"?
yes....I would. I'm spending a premium on what I consider my favorite place in the country and can live a relatively modest lifestyle despite the expensive initial cost
quote:personally I'm not letting the higher taxes deter me(in my fantasy) from living in essentially paradise.
I don't think you understand the term. You ever heard of capital gains tax in California?
what good is dreaming about a hypothetical if it's, "well i'll move to livingston parish and put 5MM in a money market and live off $80,000/year. whoopee
Posted on 2/21/18 at 4:03 pm to Pilot Tiger
quote:
"well i'll move to livingston parish and put 5MM in a money market and live off $80,000/year. whoopee
I feel like I need Prozac after reading that post, my goodness that is a depressing thought. Never thought winning money could ever sound depressing...you proved that one wrong.
Posted on 2/21/18 at 4:05 pm to GreatLakesTiger24
quote:
I might by a new car
Hire an English tutor also
Posted on 2/21/18 at 4:06 pm to GEAUXT
quote:
You inherit $5 million tax free, what changes?
My zip code, and I'll be on 100 acres in central Oregon with some cattle.
Become new owner of a 34' tuna boat (west coast style, not gulf), good used Chevy truck, a smaller RV toy hauler, 2 Waverunners, side by side, 2 snow machines and a motherfricking pontoon boat.
Put 3 million somewhere earning interest.
Start a small meat company and spend the rest of my days fishing, hunting, backpacking, and some occasional vacations abroad using only my interest.
Found my new home. mobile LINK
This post was edited on 2/21/18 at 4:14 pm
Posted on 2/21/18 at 4:07 pm to GEAUXT
My phone number.
Posted on 2/21/18 at 4:07 pm to lsunurse
quote:BUT THE TAXES AND COST OF LIVING ARE LOW SO IT'S 100% THE CORRECT DECISION TO MAKE IN THIS COMPLETE FANTASY
I feel like I need Prozac after reading that post, my goodness that is a depressing thought. Never thought winning money could ever sound depressing...you proved that one wrong.
Posted on 2/21/18 at 4:21 pm to GEAUXT
I would pay the remaining half of my mortgage. Don’t see myself moving ever again.
Posted on 2/21/18 at 4:22 pm to Pilot Tiger
Get tics on West side. Sun is a mother on day gamez
Posted on 2/21/18 at 5:05 pm to GEAUXT
My wife wouldn't work another day unless she wanted to. My kids wouldn't have to worry about TOPS getting cut out.
Posted on 2/21/18 at 5:26 pm to GEAUXT
I would quit work.
Play golf.
Play golf.
Posted on 2/21/18 at 5:51 pm to LSUbase13
Correct answer
Posted on 2/21/18 at 5:58 pm to GEAUXT
Nothing
I would take a really nice vacation though
I would take a really nice vacation though
Posted on 2/21/18 at 5:59 pm to GEAUXT
Reality is that is not a big number these days.
Would probably upgrade the ride, have always been a 911 freak & just keep on keeping on without the pressure of wondering how the bills get paid.
Have a few friends that helped me through the rough times that are due a little interest. Pay off the kids student loans & trust for the grandchildren education.
“And when this journey reaches the end of the road will turn over an empty glass”.
Would probably upgrade the ride, have always been a 911 freak & just keep on keeping on without the pressure of wondering how the bills get paid.
Have a few friends that helped me through the rough times that are due a little interest. Pay off the kids student loans & trust for the grandchildren education.
“And when this journey reaches the end of the road will turn over an empty glass”.
Posted on 2/21/18 at 6:01 pm to tigernnola
That's $1,500,000/year based on a 10 year treasury bond today
Don't tell me that's not "that much" for doing absolutely nothing with very little risk.
Don't tell me that's not "that much" for doing absolutely nothing with very little risk.
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