If you had a million dollars...
 

No more, no less...if someone gave you 1 million tax free dollars, what would you do with it?

Re: If you had a million dollars...
 

What do you mean "If" ;)

Re: If you had a million dollars...
 

i would do nothing

Re: If you had a million dollars...
 

retire, my brother, retire

Re: If you had a million dollars...
 

[QUOTE=dmek25;301018]retire, my brother, retire[/QUOTE]

You'd have to be an all star at dealing with money to have 2 people not in the same household retire. Especially after paying off all your bills.

Re: If you had a million dollars...
 

Nice party house in College Park(600,000). 10 years of season tickets (100,000). Car that cost less than 50,000. 50,000 in random ass stuff, cloths, video games, TVs, MP3 players, computers, and so on. 50,000 to make it rain wherever i go. 50,000 to charity. 100,000 in the bank. That about covers it.

Re: If you had a million dollars...
 

Invest invest invest.

A miilion bucks wont get yout through life all by itself. You need to make that million into millions. Invest every penny of it. Maybe buy me a new truck but that's probably it on the slefish pleasures. Create school accounts for my kids and probably buy investment real estate.

I would consider starting a company and using it as capitol but probably only an investment realty company and the market would have to be more favorable than it is now to make it a full time deal.

Re: If you had a million dollars...
 

two chicks at the same time..

Re: If you had a million dollars...
 

[QUOTE=hooskins;301035]two chicks at the same time..[/QUOTE]


HAHA...that's only about $100...or free if you you know the right people.

Re: If you had a million dollars...
 

nice office space quote, hooskins. Beat me to it =(

Re: If you had a million dollars...
 

[QUOTE=Daseal;301040]nice office space quote, hooskins. Beat me to it =([/QUOTE]

Damn it, I even have that movie, and missed it. haha

Re: If you had a million dollars...
 

[quote=jsarno;301022]You'd have to be an all star at dealing with money to have 2 people not in the same household retire. Especially after paying off all your bills.[/quote]
who said anything about her retiring?

Re: If you had a million dollars...
 

Pay off bills, save half, invest half, and continue going to work. I went crazy the 3 months in between the Army and another job. I don't think I'll like retirement too much.

Re: If you had a million dollars...
 

- Sell my current house, move into a 5 BR, 3 Bath here in the Philly area. Pay 20% down on it and mortgage the rest (I'd rather carry the debt because after taxes the INT rate is only 4% or so, I can do better than 4% on my investments)

- Set aside $100K into college education funds for the young'n (and future young'ns that I'm sure to have). Invest it in a stock index fund and let it ride. In 17 years that should be worth $500K, which should cover college education for 2-3 kids.

- Buy a vacation property on the Outer Banks of NC (20% down, mortgage the rest). Rent it out for all but 2 weeks out of the summer. That cash flow should offset the cost of ownership.

- Make everything in my house automatic. Automatic sprinkler system that turns on every morning at 7:00 am. Automatic lights when I walk into a room. Buy a few of those roomba robots that vacuum and mop your floors. Stuff like that. I'd also probably pay someone to clean my house once a week; having money is nice, but I'd want to have time more than anything. I'd rather unload some cash to make life easier.

- Buy a couple sweet rides, probably a Toyota Sienna minivan for carting around the family, filled to the brim with all the trimmings. And then a Lexus ES for me.

- Sock the rest of the cash away in stocks and bonds to generate enough free cash flow so the wife could stay home with the kids and be a full time stay at home mom.

And of course for me, keep on working.

Re: If you had a million dollars...
 

[QUOTE=Schneed10;301095]- Sell my current house, move into a 5 BR, 3 Bath here in the Philly area. Pay 20% down on it and mortgage the rest (I'd rather carry the debt because after taxes the INT rate is only 4% or so, I can do better than 4% on my investments)

- Set aside $100K into college education funds for the young'n (and future young'ns that I'm sure to have). Invest it in a stock index fund and let it ride. In 17 years that should be worth $500K, which should cover college education for 2-3 kids.

- Buy a vacation property on the Outer Banks of NC (20% down, mortgage the rest). Rent it out for all but 2 weeks out of the summer. That cash flow should offset the cost of ownership.

- Make everything in my house automatic. Automatic sprinkler system that turns on every morning at 7:00 am. Automatic lights when I walk into a room. Buy a few of those roomba robots that vacuum and mop your floors. Stuff like that. I'd also probably pay someone to clean my house once a week; having money is nice, but I'd want to have time more than anything. I'd rather unload some cash to make life easier.

- Buy a couple sweet rides, probably a Toyota Sienna minivan for carting around the family, filled to the brim with all the trimmings. And then a Lexus ES for me.

- Sock the rest of the cash away in stocks and bonds to generate enough free cash flow so the wife could stay home with the kids and be a full time stay at home mom.

And of course for me, keep on working.[/QUOTE]

Toyota Sienna? A sweet ride? Man, what would your high school buddies be saying about you now? Haha, just kidding.

Re: If you had a million dollars...
 

[quote=GhettoDogAllStars;301100]Toyota Sienna? A sweet ride? Man, what would your high school buddies be saying about you now? Haha, just kidding.[/quote]

I'm all about comfort though, couldn't care less about style. I'm the guy who wears sweatpants to a bar and doesn't give a crap.

Those Siennas when you trick them out with leather seats and the DVD players for the kids and the premium sound systems with the MP3 blue tooth; it's very chill. Very comfortable.

Besides, you can't have a Porsche and a 'Vette when you need to cart a couple young'ns around. A million might make me rich, but it wouldn't take the practical out of me.

Re: If you had a million dollars...
 

Honestly, I don't need a lot in life to make me happy. I'd probably sell my current house and move into one about the same size that had a finished or unfinished basement. I would redo the basement totally to make it into and arcade and theater room.

Since it would be subterranean, it would feel like an earthquake with the sound system I'd have down there. The rest would be divided equally into investments so I could live on that the rest of my life.

That, and two chicks at the same time.

Re: If you had a million dollars...
 

[quote=Schneed10;301103]I'm all about comfort though, couldn't care less about style. I'm the guy who wears sweatpants to a bar and doesn't give a crap.

Those Siennas when you trick them out with leather seats and the DVD players for the kids and the premium sound systems with the MP3 blue tooth; it's very chill. Very comfortable.

Besides, you can't have a Porsche and a 'Vette when you need to cart a couple young'ns around. A million might make me rich, but it wouldn't take the practical out of me.[/quote]

I'll agree with you on vans. While the idea itself sounds a little lame, my parents had a Dodge Caravan that I drove while my car was getting fixed for about two months. I had just gotten my first job ever and money was FLOWING in, so I basically pimped this thing out with a crazy sound system, tint, LCDs and a DVD player. People BEGGED to ride with me home from school. If you do it right, you can't beat a nice comfy van.

Re: If you had a million dollars...
 

[quote=GhettoDogAllStars;301100]Toyota Sienna? A sweet ride? Man, what would your high school buddies be saying about you now? Haha, just kidding.[/quote]
i was thinking the same thing. you could get a tricked out escalade with a dvd player, then the kids are happy, and you ride in style

Re: If you had a million dollars...
 

Refinance and pay down some of my current mortgage, so that my monthly payments are significantly less. Replace my car with something a bit more roomy (01 Honda Civic). Finish off decorating the house, including home theatre, built-in bar in the basement. And invest the rest, make that money work for me.

I'd continue to work for now, but if I invest right, I figure the remains of that million, I could probably retire by 40, move to the beach and surf for the rest of my life. I have no problems not working...I can always find something to do.

Re: If you had a million dollars...
 

put it in the bank and keep living life the way i have

Re: If you had a million dollars...
 

[quote=TheMalcolmConnection;301108]Honestly, I don't need a lot in life to make me happy. I'd probably sell my current house and move into one about the same size that had a finished or unfinished basement. I would redo the basement totally to make it into and arcade and theater room.

Since it would be subterranean, it would feel like an [B][I][SIZE=7]earthquake [/SIZE][/I][/B]with the sound system I'd have down there. The rest would be divided equally into investments so I could live on that the rest of my life.

That, and two chicks at the same time.[/quote]

u would invite me that is great lol

Re: If you had a million dollars...
 

I would probably invest about $800,000. I would do about $600K in an equity portfolio and another $300K in some real estate.

With the balance I would probably start a non-profit foundation in memory of my mother.

Re: If you had a million dollars...
 

[quote=dmek25;301129]i was thinking the same thing. you could get a tricked out escalade with a dvd player, then the kids are happy, and you ride in style[/quote]

I hate those things.

Re: If you had a million dollars...
 

I'd rather be a soccer mom than a rapper.

Re: If you had a million dollars...
 

[quote=12thMan;301144]I would probably invest about $800,000. I would do about $600K in an equity portfolio and another $300K in some real estate.

With the balance I would probably start a non-profit foundation in memory of my mother.[/quote]

LOL, math much?

$800,000 < $600,000 + $300,000

It's all good, I just found that funny.

Re: If you had a million dollars...
 

[quote=TheMalcolmConnection;301155]I'd rather be a soccer mom than a rapper.[/quote]

Yeah I'm in that boat.

Buying a ride (or anything really) for the sake of style is a concept that completely escapes me.

Re: If you had a million dollars...
 

I'm more of the type of person who'd rather have an older car and fix it up.

My 1997 Mazda B4000 came missing a lower bumper, a cracked valance, and a dented front fender. Now it's totally pimped and I feel much better knowing I did it myself.

Re: If you had a million dollars...
 

[quote=Schneed10;301156]LOL, math much?

$800,000 < $600,000 + $300,000

It's all good, I just found that funny.[/quote]

Damn you!

I guess I meant $900K. $600 stocks, $300 Real Estate. Balance foundation. :)

Re: If you had a million dollars...
 

[quote=jsarno;301022]You'd have to be an all star at dealing with money to have 2 people not in the same household retire. Especially after paying off all your bills.[/quote]

OK what's the big deal?
he'd retire to life under a bridge

Re: If you had a million dollars...
 

[quote=TheMalcolmConnection;301155]I'd rather be a soccer mom than a rapper.[/quote]
mia hamm and nomar or jayz and beyonce? i would take beyonce everyday, and twice on tuesday

Re: If you had a million dollars...
 

or i'd prob take everyone on the warpath out for drinks and then rent out fedex field for one day and get a football game going

Re: If you had a million dollars...
 

Have you ever seen Beyonce close up? I was in the same situation you were until I saw some photos of her online. She has got some MAJOR issues that only about ten pounds of makeup can cover up.

Re: If you had a million dollars...
 

Retire on one million? Come on, you can't retire on that unless you have ten years to go before death.

If I had a million, I'd try to make into two million. I wouldn't touch that money for at least another 10 years.

Re: If you had a million dollars...
 

pay off my mortagage, my car, be debt free and invest for my son's college education.

Re: If you had a million dollars...
 

[quote=saden1;301179]Retire on one million? Come on, you can't retire on that unless you have ten years to go before death.

If I had a million, I'd try to make into two million. I wouldn't touch that money for at least another 10 years.[/quote]

Actually, depending on how much income you wanted, you really could retire on a million if you could live life simply.

Put that million in a bond fund that returns about 6% on average, and you're grossing $60,000 per year without even having to tap into your principal.

You'd have to buy health insurance on your own which is expensive (but some people do that already). And you'd need to pay taxes on the $60,000 income. But it could be done.

Though I'll agree, you're much better off socking it away for a while, letting it double or triple, and then retiring on it.

Re: If you had a million dollars...
 

[QUOTE=TheMalcolmConnection;301169]Have you ever seen Beyonce close up? I was in the same situation you were until I saw some photos of her online. She has got some MAJOR issues that only about ten pounds of makeup can cover up.[/QUOTE]


I don't think you'll see those "flaws" when the lights are down or out, and barry is playing soft on the stereo!

Schneed beat me to it. You can retire on it, but you would need to make considerable investment moves before you could retire on it in fashion. That's why I posed the question of 1 million instead of say 10 million.

Re: If you had a million dollars...
 

[quote=jsarno;301237][B][I]I don't think you'll see those "flaws" when the lights are down or out, and barry is playing soft on the stereo! [/I][/B]

Schneed beat me to it. You can retire on it, but you would need to make considerable investment moves before you could retire on it in fashion. That's why I posed the question of 1 million instead of say 10 million.[/quote]

You could say that about Rosie O'Donnell too. :vomit:

Re: If you had a million dollars...
 

[quote=TheMalcolmConnection;301239]You could say that about Rosie O'Donnell too. :vomit:[/quote]

Ewwww. :tongue

Re: If you had a million dollars...
 

[QUOTE=TheMalcolmConnection;301239]You could say that about Rosie O'Donnell too. :vomit:[/QUOTE]

That's nasty.
You could at least feel the homer simpson like flab of O'Donnell, and hear her whining voice. That is just plain sick.