jump to last post 1-9 of 9 discussions (16 posts)

What do you do if you have 1000000$

  1. Moataz Kamal profile image61
    Moataz Kamalposted 22 months ago

    What do you do if you have 1000000$

  2. mike102771 profile image83
    mike102771posted 22 months ago

    One of these
    1.    500,000 $2 lottery tickets.

    2.    Setup some sort of annuity to make the money last the rest of my life.

    3.    Make it rain.

    4.    Invest in equipment to make my job (delivery driver) easier
            a.    New vehicle
            b.    New equipment: dolly, computer, etc.
            c.    Emergency fund for the future

    5.    4,000,000 chicken nuggets

    1. LoisRyan13903 profile image80
      LoisRyan13903posted 22 months agoin reply to this

      I got #3  LOL!

  3. FatFreddysCat profile image97
    FatFreddysCatposted 22 months ago

    Whatever I wanted, for as long as the money held out.

  4. LoisRyan13903 profile image80
    LoisRyan13903posted 22 months ago

    Pay off my bills
    Invest a majority-some stocks, CDs, Money Market Account
    Set aside a bunch for rainy days-Lol!  I figured out #3 on Michael Collins answer
    Retire from my regular job
    Retire from HubPages

    1. MarieLB profile image82
      MarieLBposted 22 months agoin reply to this

      Sounds like you do not enjoy Hub Pages much.  Wonder, why do you stay then?  Surely not for the money!!

    2. LoisRyan13903 profile image80
      LoisRyan13903posted 22 months agoin reply to this

      Lately I just come for the answers.  I actively write on another site and am thinking about self-publishing through the Kindle and Nook sites

    3. MarieLB profile image82
      MarieLBposted 22 months agoin reply to this

      Note to LoisRyan13903 - In answer to your latest response, I am just about at that junction now.  Thinking of doing the same thing as you are doing already.

    4. denisewebster profile image53
      denisewebsterposted 22 months agoin reply to this

      I would invest it in something more safer than the stocks. smile

    5. LoisRyan13903 profile image80
      LoisRyan13903posted 22 months agoin reply to this

      Than't why I said some stocks, mainly NADAQ 1000.  Marie of course if I won that, I would offer my books as free reads

  5. MarieLB profile image82
    MarieLBposted 22 months ago

    You realise of course that a $1M dollars is not a really huge amount these days.  But if I did, I know what I want to do.

    I would buy a good block of flats that would give me enough income to live for .....say 15 years or so without having to scrimp and save.  I would also like to go on a holiday cruise at least twice a year. 

    I would like to help my 2 children just enough to ensure they have a good house and a good car.  Small personalised gifts to family and friends.  All the above should consume a good 80% of that money. 

    The rest of it would go to 3rd world communities that are in great need, after research.

    Gee.... that would sure be a good place to be in!!

    1. LoisRyan13903 profile image80
      LoisRyan13903posted 22 months agoin reply to this

      One such place I would help is Kibera in Africa-one of the largest slums in the world

  6. tsmog profile image82
    tsmogposted 22 months ago

    Like Marie L B says a million dollars is not a lot in some sense, yet is very much more than I have today ;-) First, is where did the money come from? If it is a gift, then it is all disposable income and not taxable. If for me it is from the Calif lottery I will have to pay fed tax, but not state. That tax rate will be 39.6% for me being single. So, that means I will have $604,000 disposable income remaining.

    So, lets say it is a gift or inheritance. All the money is mine. I see two avenues for investment. First, invest in rental property a little high end house perhaps. That would be about $600k in San Diego county. That would net me about $2,000+ month income. That of course is taxable both state and federal. The net to me after taxes would be about 20k annually / $1,700 mth. / 390 wk.

    That leaves 400k to do as I wish. A decent car is about 25k with license and taxes = 375k. If I invest 250k into treasury bonds or a money market fund I can expect about a net annually of 5% or $12,000. Add that to the 20k = 32k tax liability. Net would be close to 27K / $2,230 mth / $515 week. Much more livable while leaving me $125k to do as I wish.

  7. denisewebster profile image53
    denisewebsterposted 22 months ago

    There are two ways of looking at this question, I can spend to invest or invest to spend.

    Spending 1000000$
    First ask yourself: Are you looking at spending a million dollars in one go or on multiple things?
    You can spend $1 Million on a house with can end up being part of your portfolio of investments or on a car which could lose value over time (unless it's classed as a classic vehicle)

    Savings and Investing
    Putting $1 Million in a bank won't accrue much interest. However there are many alternative ways of investing your money which can pay out high interest. People can enter investment clubs or learn to invest money as an individual (eg, stock market)

    Risk V's Reward
    I think it also depends on how much money to risk. Gamble it or save it "for a rainy day?".

    ::One other thought
    As a business owner I use cash flows to re-invest in my business to grow and expand it. It's fairly common to hear businesses merging and buying out other businesses to expand their portfolio such as Amazon and FaceBook. Leveraging my business helps to secure it's future.

  8. profile image60
    Tianna Mooreposted 22 months ago

    1. Get out of Debt
    2. Donate to charity
    3. Pay bills
    4. Go back to school
    5. Create your own business
    6. Help family members

  9. rehaniqbal24 profile image60
    rehaniqbal24posted 16 months ago

    I will do a work .. which is out standing and in favour of our poor people of village.. to  give more and more knowledge to them .. Aldo to old women and man....
    and more

 
working