What Would You Do If You Had A Million Dollars?

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  1. manofmystery24 profile image60
    manofmystery24posted 5 years ago

    How would you use the money?

    1. Any Other Voice profile image60
      Any Other Voiceposted 5 years agoin reply to this

      Honestly, I would keep whatever I need for college, some for my family, and give the rest away to charities and environmental organizations as soon as I could. I've heard too many lottery failure stories, where the winner has no idea what to do, succumbs to a life of excess and- boom- bankrupt in a matter of years. Or the people they know start bugging them for money and they destroy all their relationships and live lavish hermit lives until they die.

      BUT if I worked for the money, and earned it with my own hands, I would probably put it in the bank and watch it grow. c:

      1. Jennifer Degler profile image60
        Jennifer Deglerposted 12 months agoin reply to this

        Sorry but you sound exactly like one of the people who receive large windfalls and still end up broke as you stated nothing about saving whatever windfall you have. By saving it, you could give to more charities over time if that's what you really desired.

    2. Ratatoesk profile image57
      Ratatoeskposted 5 years agoin reply to this

      I would invest the money in order to create a good cashflow, honestly

    3. LizaLoo12 profile image61
      LizaLoo12posted 3 years agoin reply to this

      I'd divide it into 5 categories:
      ~Firstly, buying the book "Tax Evasion for Dummies".
      ~Then investing some of the money into my new start-up business Hollow Leg Store, which means a lot to me and I hope develops into something that can make a meaningful contribution to the world.
      ~Thirdly, giving to other causes and companies that I respect the morals of and want to support.
      ~Fourthly, I would travel. Exploring new spaces and cultures always keeps my perspective fresh.
      ~And lastly, I would put the rest away-- you never know when you might need it, and I tend to squirrel away savings for the unexpected. (and the occasional rainy day) wink

    4. jayprakashgupta profile image60
      jayprakashguptaposted 24 months agoin reply to this

      I would invest the same in 3 parts. One part I would invest in Commodities Market , one in Equity and one in Derivatives.As we have seen over the years the returns are more than any other bank deposits or even real estate investment. One just need to have patience and discipline in investing.

    5. profile image59
      Lisacalvin124posted 15 months agoin reply to this

      I would just do three things, travel, read, eat, sleep and repeat.
      would like a great big mansion for my family and a big car for each one of them. I would keep a substantial amount of money for donations in animal shelters and for the kids who cant afford studies. I would love to invest my money. but this animal shelter is something I really want to do. I would not want a huge mansion for myself but I would just want happiness for myself and I know I wll find happiness doing what I best can.

    6. ptosis profile image71
      ptosisposted 14 months agoin reply to this

      well if in one lump sum the million  after taxes is only $345,546 = they take about 70% away before you even get it.

      1. Castlepaloma profile image75
        Castlepalomaposted 3 months agoin reply to this

        Why those thieves.

      2. profile image60
        Leo Prideposted 5 weeks agoin reply to this

        If you live in the states! In. Canada whatever you win is yours! The the taxes are included in the price is the lottery ticket so the winner does not have to pay taxes. You win $60 million, you won $60 million!

    7. Guckenberger profile image87
      Guckenbergerposted 11 months agoin reply to this

      I would buy a used house with some used land. I would put a large sum of it into my bank, ten percent would go to my church, some of it would go into the stock market, some into bonds, some into the United States treasury, and some into cryptocurrencies and perhaps other investments. I would also place some money to anyone I felt somehow indebted to.

  2. knolyourself profile image60
    knolyourselfposted 5 years ago

    Give it to my closest kin to buy whatever. They put me on an allowance.
    "Work or pleasure? Work always work."

  3. brimancandy profile image78
    brimancandyposted 5 years ago

    I would find a really nice rental property in Saugatuck, MI, and live out the rest of my days with that money. Plus I would give each of my family members so much money a month, to help them out. I would probably buy myself a newer car. And, maybe do some traveling.

    I also thought about some investment property. Maybe bring old after hours parties back. There were a couple guys who owned a farm, and they would host huge after hours parties, where they could make up to $40,000.00 a night on cover. So, investing in something like that, would pay for itself pretty quick. Not sure if they ever paid for Liability insurance. But, I highly doubt it. As the parties were pretty much come at your own risk. But they were fun! fun! fun!

  4. neophonic profile image71
    neophonicposted 5 years ago

    I would use them as my lifelong rent so i can continue to volunteer! Would love to buy products and services needed to grow up top notch websites and fundraising projects for partnering nonprofits. Dream, dream..even $1000 would be ok wink

  5. torrilynn profile image79
    torrilynnposted 5 years ago

    manofmystery24, if i had a million dollars i would have a new car and a new house. Depending if my mom wanted to live with me or not, she would have her own house. the rest of the money would go to my student loans and paying the bills on boths houses and cars. any remaining money, if any would simply be given away to next of kin.

  6. Doodlehead profile image80
    Doodleheadposted 5 years ago

    I would get a girl mini-schnauzer for my boy mini-schnauzer.

    1. CroftRoan profile image80
      CroftRoanposted 5 years agoin reply to this

      Cute!

  7. madisonelise profile image61
    madisoneliseposted 5 years ago

    Me,Travel and Philanthropy. Nice Answer Neophonic, this world could use more of your kind

  8. CroftRoan profile image80
    CroftRoanposted 5 years ago

    I'd put myself through college, buy a good house, get a sweet little Italian Greyhound and Corgi, and use the rest to live comfortably but humbly while I write for a living.

  9. VictoriaSheffield profile image84
    VictoriaSheffieldposted 5 years ago

    If I had a million dollars I would move out of this community, help the needy and my family. I would invest some money into my career and pay off all of my bills. I would take a shopping trip, a vacation, and get myself two new cars.

  10. janesix profile image60
    janesixposted 5 years ago

    spend it till its gone

  11. carozy profile image85
    carozyposted 5 years ago

    I would invest it somehow and live off a small percentage of it.  I would travel the world and buy investments.  I would also donate regularly.  With my free time (which I would now have a lot of) I would do fun things like learn guitar, learn foreign languages by going to the foreign country, take up windsurfing, visit film festivals in foreign countries, and other fun hobbies that I don't have the time or money for now.  I would also be good to my friends and family.

  12. WriteAngled profile image80
    WriteAngledposted 5 years ago

    A million dollars is no longer very much in the real scheme of things. It wouldn't even buy you a house in most parts of London.

    With current interest rates at best being 1-2%, putting the whole lot into a deposit account would only bring in $10,000-20,000 a year. Even at the top rate, that is less than half of a modest living income.

    I would probably put most of it on deposit and use the income to cut down a bit on the hours I work. I would try some riskier investments with the rest, in the hope of perhaps striking lucky.

    The money would give me some more free time to do things I would like to do, but it would not have a major impact on my way of life.

  13. Hollie Thomas profile image60
    Hollie Thomasposted 5 years ago

    A million dollars would enable me to buy a lovely old farmhouse in Wales with a little bit of land. I'd rent out the land but keep chickens in the courtyard. I've always wanted to keep chickens. Any remaining money would help to pay for my daughter's education so she wouldn't be saddled with too much debt later on.

  14. Stevennix2001 profile image88
    Stevennix2001posted 5 years ago

    Obviously I'd pay off all my bills, as that goes without saying.  Then I'd invest and put most of into my Roth IRA, and bank accounts for safe keeping.  Sure, I might splurge like 10k on stuff, while also planning a trip to see the world.  But other than that, that would be pretty much it.

    1. thestrongprof profile image61
      thestrongprofposted 23 months ago

      I would split it in 5 different categories:

      1) Pay off all debt (not including mortgage) ---- around 10%
      2) Invest 30%  in low cost index funds and bonds
      3) Use 30% to buy real estate rentals
      4) Invest 20% in my blog and online business for growth
      5) Give the final 10% to charities or start a scholarship fund at my university

      Its always important to give back in some way. It's really encouraging to see that many of you feel the same way.

      Raphael

    2. ChadCrouch profile image72
      ChadCrouchposted 20 months ago

      I would reinvest the money or start investing some of it.

    3. JewishFund profile image59
      JewishFundposted 15 months ago

      I would invest it wisely

    4. LMcGrath profile image61
      LMcGrathposted 9 months ago

      I would talk to an investment manager and a tax person for advice, think about what they said while I pay off my student loans separate more than enough money to pay for the rest of my schooling, computer, and books. Then I would buy a reliable car that will last ten years with basic maintenance, focus on school, invest the rest. Tithe 10% and donate 10% to a worthy nonprofit making a positive impact in their neighborhoods helping people, more than likely half for human service and the other half for medical support.

    5. nestle02 profile image84
      nestle02posted 9 months ago

      Tell my boss this is my last minute at work Lol Charity donations, clear my and any of my family member's debt, invest and travel

    6. Bobpitter profile image61
      Bobpitterposted 7 months ago

      He will reinvest this 1 million to multiply, but for this you will want to choose 3 types of investment: insurance, medium risk and speculation. Most of the risk no longer exists.

    7. dredcuan profile image91
      dredcuanposted 6 months ago

      I will invest half of the million dollars in a business.  Then, I will pay my bills or loans or whatever debts I currently have.  It's better for me to free myself from debts in order to have a quite peaceful mind.  Next, I will do charity works.  I want to work hands on for these charity works so I can make sure that all funds will all be given to the needy.  The rest of  my money, I will save in my bank.

    8. My Finstone profile image43
      My Finstoneposted 6 months ago

      I would invest it all in Mutual Funds and see it grow in 15-20 years.

    9. hospitalityAU profile image65
      hospitalityAUposted 6 months ago

      I would invest $500.000 in the Forex trading market in order to have a steady income of $25.000 per month. I would use the rest of the money to create employment and charity organisations in Venezuela.

    10. profile image0
      Mikey Carrollposted 3 months ago

      I would probably do 50% in mutual funds and then use the rest towards doing things that I love.

    11. Castlepaloma profile image75
      Castlepalomaposted 3 months ago

      Build a sandcastle hotel in Colombia S. America.  Already started investors now.

     
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