Author Topic: What would you do with 10 million dollars? (Read 2869 times)

The Big Train · « **on:** March 11, 2013, 01:21:34 AM »

1. Pay off ALL of my student loans

2. Binge for a week straight

3. Buy a squawks bar and change it into a cats bar

4. Invest the rest

waks · « **Reply #1 on:** March 11, 2013, 02:50:19 AM »

CNS · « **Reply #2 on:** March 11, 2013, 08:26:28 AM »

Damn it, could actually be an interesting thread.

ben ji · « **Reply #3 on:** March 11, 2013, 08:42:27 AM »

1 million after tax?

1. Would find a rich person financial planner guy to help invest it/avoid taxes on investment.
2. Put 800k in a Mutual Fund and would not touch that for about 20 years.
3. Pay off remaining balance on house and look for a new one, turn old house into rental property.
4. Take 1-2 months off from the life and travel.
5. Buy a new car, probably a 4 runner or Jeep Grand Cherokee.
6. Give close friends and Family a couple grand each and say this is all you get, dont ask me for money agian.
7. Become a History teacher, seems like it would be a good full/part time gig. Summers off, 2 weeks for winter break etc.

Would have around 50k left over out of 200k I didnt invest. Would use that to supliment teaching income until I'm in my mid 40's and retire for good.

06wildcat · « **Reply #4 on:** March 11, 2013, 09:31:05 AM »

Quote from: ben ji on March 11, 2013, 08:42:27 AM

1 million after tax?

1. Would find a rich person financial planner guy to help invest it/avoid taxes on investment.
2. Put 800k in a Mutual Fund and would not touch that for about 20 years.
3. Pay off remaining balance on house and look for a new one, turn old house into rental property.
4. Take 1-2 months off from the life and travel.
5. Buy a new car, probably a 4 runner or Jeep Grand Cherokee.
6. Give close friends and Family a couple grand each and say this is all you get, dont ask me for money agian.
7. Become a History teacher, seems like it would be a good full/part time gig. Summers off, 2 weeks for winter break etc.

Would have around 50k left over out of 200k I didnt invest. Would use that to supliment teaching income until I'm in my mid 40's and retire for good.

Ben ji outed as not

at all.

ben ji · « **Reply #5 on:** March 11, 2013, 09:50:32 AM »

06Wildcat? More like 06 Sqwauk if you ask me.

06wildcat · « **Reply #6 on:** March 11, 2013, 09:56:55 AM »

Quote from: ben ji on March 11, 2013, 08:42:27 AM

1 million after tax?

1. Would find a rich person financial planner guy to help invest it/avoid taxes on investment.
2. Put 800k in a Mutual Fund and would not touch that for about 20 years.
3. Pay off remaining balance on house and look for a new one, turn old house into rental property.
4. Take 1-2 months off from the life and travel.
5. Buy a new car, probably a 4 runner or Jeep Grand Cherokee.
6. Give close friends and Family a couple grand each and say this is all you get, dont ask me for money agian.
7. Become a History teacher, seems like it would be a good full/part time gig. Summers off, 2 weeks for winter break etc.

Would have around 50k left over out of 200k I didnt invest. Would use that to supliment teaching income until I'm in my mid 40's and retire for good.

Total squak logic: Hire financial planner to avoid taxes, end up putting 80 percent of the money in mutual fund that would incur taxes anyways. Using cash to buy investment property while taking out a mortgage on primary residence. Believing you have it made so you're giving your family/friends money. Thinking you're going to do 3-7 for $200k.

Yeah, you go ahead and retire in your mid-40s. See how that works out for you.

ben ji · « **Reply #7 on:** March 11, 2013, 10:09:59 AM »

Why are you so butthurt? We just won the big12 in Fball and Bball!!!

Take a chill pill and

a little!

Rage Against the McKee · « **Reply #8 on:** March 11, 2013, 10:40:07 AM »

Quote from: 06wildcat on March 11, 2013, 09:56:55 AM

Quote from: ben ji on March 11, 2013, 08:42:27 AM
1 million after tax?

1. Would find a rich person financial planner guy to help invest it/avoid taxes on investment.
2. Put 800k in a Mutual Fund and would not touch that for about 20 years.
3. Pay off remaining balance on house and look for a new one, turn old house into rental property.
4. Take 1-2 months off from the life and travel.
5. Buy a new car, probably a 4 runner or Jeep Grand Cherokee.
6. Give close friends and Family a couple grand each and say this is all you get, dont ask me for money agian.
7. Become a History teacher, seems like it would be a good full/part time gig. Summers off, 2 weeks for winter break etc.

Would have around 50k left over out of 200k I didnt invest. Would use that to supliment teaching income until I'm in my mid 40's and retire for good.

Total squak logic: Hire financial planner to avoid taxes, end up putting 80 percent of the money in mutual fund that would incur taxes anyways. Using cash to buy investment property while taking out a mortgage on primary residence. Believing you have it made so you're giving your family/friends money. Thinking you're going to do 3-7 for $200k.

Yeah, you go ahead and retire in your mid-40s. See how that works out for you.

Actually, with interest rates where they are, a second property could easily appreciate in value at a greater rate than mortgage interest, but yeah, I wouldn't do that because I have no interest in being a landlord and it's anything but a safe investment. I would just pay off my current mortgage and then invest the rest. I wouldn't give any money to anybody who asks for it.

slobber · « **Reply #9 on:** March 11, 2013, 10:46:25 AM »

Prolly need to change this to $10MM to get some good answers on here... this isn't phog.net ya know?

Rage Against the McKee · « **Reply #10 on:** March 11, 2013, 10:47:37 AM »

Yeah, I mean $1 million isn't what it used to be.

Institutional Control · « **Reply #11 on:** March 11, 2013, 02:21:18 PM »

I wouldn't even quit my job if I was given $1M.

$10M, I would quit my job, buy a nicer boat and go fishing a lot.

ksucrcoop · « **Reply #12 on:** March 11, 2013, 04:06:03 PM »

1.) Keep my job, wife quit hers - I like it, benefits, keeps me busy
2.) Max all obvious tax shelters each year (HSA, IRA, Roth IRA, etc) (~50K with wife)
3.) Shop about 8.5-9 mill to find the best hedge fund for my tastes.
4.) Payoff student loans and other immediate family debts, mortgages, etc. (~150-650K)
5.) Make a lifetime pledge (~1mil) to Ahearn Fund that guarantees me box/floor seats to anything ($50-75K per year tax write off)
6.) Expand/renovate house - adding 2 more garage spots (~$200K)
7.) Buy ski-in/ski-out property in Breck/Avon/Vail (~$200K downpayment, 75K per year)
8.) Buy a lake house and boat ($150K, downpayment & boat, 50K per year)
9.) Buy a Porsche 930 (75-80), C3 corvette 454 (69-71), CTS-V (daily driver) and wife a Land Rover. (200K)

At a modest 5% Rate of return and incurring abotu $250K in additional annual expenses from all the baller crap I bought, I'm still sitting pretty with 20 mill in the bank when I "retire". Bump the return up to 10%, and I'm at $100 mill.

Emo EMAW · « **Reply #13 on:** March 11, 2013, 04:31:05 PM »

I would buy some IP that my company just doesn't have the testicular fortitude to invest in. Then like make a billion dollars.

Institutional Control · « **Reply #14 on:** March 11, 2013, 05:11:30 PM »

I would buy goEMAW.com .

Sent from my SAMSUNG-SGH-I717 using Tapatalk 2

Cartierfor3 · « **Reply #15 on:** March 11, 2013, 05:13:38 PM »

I'd order apps and zerts. Everytime.

CNS · « **Reply #16 on:** March 11, 2013, 05:22:14 PM »

Payoff house

Quit job.

Build enough stuff a yr to be considered part time.

Volunteer a bunch.

Workout or play bb or raquetball or something like 3 hours a day.

Would be glorious.

Learn how do do something only until I became bored with it, then move on to the next thing(woodworking, bbq/smoke, musical instrument, etc)

06wildcat · « **Reply #17 on:** March 11, 2013, 09:02:33 PM »

Quote from: CNS Casey on March 11, 2013, 05:22:14 PM

Payoff house

Quit job.

Build enough stuff a yr to be considered part time.

Volunteer a bunch.

Workout or play bb or raquetball or something like 3 hours a day.

Would be glorious.

Learn how do do something only until I became bored with it, then move on to the next thing(woodworking, bbq/smoke, musical instrument, etc)

Yes. w/ $10 million hobbies would turn into a profession/tax loophole. At $1 million life would be a little easier, but other than that wouldn't change much other than a couple extra road games/year.

Willesgirl · « **Reply #18 on:** March 11, 2013, 09:24:15 PM »

1. Quit job.
2. Pay off mortgage. (I don't owe that much. Ramsey plan.)
3. For 6 months to a year, I would do absolutely nothing but swim (in my own pool), layout (with a butler to bring drinks), workout and get massages and pedicures. Every other month or so, I'd take a beach vacation.
3. I don't know after that. Buy a Burger King or something

4. Invest and live off residuals, hopefully.

With $1 million, I would just stick it in the bank or hedge fund. No other changes.

Dugout DickStone · « **Reply #19 on:** March 11, 2013, 09:38:21 PM »

Get even more shredded.

ben ji · « **Reply #20 on:** March 11, 2013, 09:45:09 PM »

10 Million?

Part time deep sea fishing guide in Key West

bones129 · « **Reply #21 on:** March 12, 2013, 12:07:10 AM »

Spend a bunch of it and invest the rest. Let's not over-analyze this.

Stevesie60 · « **Reply #22 on:** March 12, 2013, 12:08:25 AM »

Buy 10 shares of goEMAW.com.

EMAWmeister · « **Reply #23 on:** March 12, 2013, 01:03:34 AM »

I feel like I could spend $10 million dollars somewhat easily, without buying mansions/lambos etc. I would travel anywhere and do whatever the hell I wanted. I would go to Paris for a Jay Z concert on a tuesday night because eff you, why not?

The Big Train · « **Reply #24 on:** March 12, 2013, 01:07:37 AM »

So I'm bingeing by myself when I get 10 mil? We just won the ship.

Author Topic: What would you do with 10 million dollars? (Read 2869 times)

The Big Train

The Big Train