A million dollars

  • Orland23

    Posts: 325

    Jul 11, 2015 3:18 AM GMT
    If you all of a sudden had $1,000,000, what you do with the money?
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    Jul 11, 2015 3:24 AM GMT
    Buy a good used boat and split. I'm tired of being tethered to the land.
  • Orland23

    Posts: 325

    Jul 11, 2015 3:30 AM GMT
    Pay my student loans off and buy a house in Portland, Oregonicon_smile.gif.
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    Jul 11, 2015 3:31 AM GMT
    not tell a soul...make dead sure it wasn't some sort of fuckup....pay off all the taxes on the $$$, depending on how it was acquired, invest some into the startup company I want, pay off all of my debts, max out my retirement investments, take a few weeks vacation cruise, get some plastic surgery, go back to work... $1million isn't really that much after taxes, and after paying for life so far....icon_wink.gif
  • metta

    Posts: 39106

    Jul 11, 2015 3:32 AM GMT
    I would pay off my mortgage to begin with. I would put the rest into savings and investments for a while. I would probably eventually open a new business and may even take a vacation.
  • lostsouls

    Posts: 5

    Jul 11, 2015 3:44 AM GMT
    First i would buy a house for my self then i would buy for a mother with kids who are on the streets fill both houses with furniture and tv's in all rooms even the crapper lol put the rest away to gain interest for my kids
  • PRDGUY

    Posts: 641

    Jul 11, 2015 3:47 AM GMT
    Tax Free? I would put $700,000 dollars away... use $200,000 to get a bigger place... $100,000 to go on shopping spree for a new car, and whatever's leftover from the car just blow it!!!!
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    Jul 11, 2015 4:54 AM GMT
    Pay off taxes, buy a few things I've wanted for a while, and give the rest to family/friends just like I do with extra money I have now.
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    Jul 11, 2015 4:57 AM GMT
    Invest some, share some with friends and definitely donate some to causes I support.
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    Jul 11, 2015 4:58 AM GMT
    eb925guy saidInvest some, share some with friends and definitely donate some to causes I support.
    Is the "paulflexes foundation for getting paulflexes richer" a cause you support? icon_razz.gif
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    Jul 11, 2015 5:03 AM GMT
    paulflexes said
    eb925guy saidInvest some, share some with friends and definitely donate some to causes I support.
    Is the "paulflexes foundation for getting paulflexes richer" a cause you support? icon_razz.gif


    I'd need to verify that with the IRS...yeah, that's what I thought! Good try! LOL
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    Jul 11, 2015 5:49 AM GMT
    Sporty_G saidnot tell a soul...


    Definitely this! I can imagine the relatives whom I've never met or heard from in years, all of a sudden try to contact me because they need a loan. So yeah, the first thing I would do is……shhhhh!!!!

    By the way, nice reply eb925guy! icon_biggrin.gif
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    Jul 11, 2015 6:16 AM GMT
    Open a small men's clothing store and buy a townhouse.
  • Orland23

    Posts: 325

    Jul 11, 2015 7:05 AM GMT
    eb925guy saidInvest some, share some with friends and definitely donate some to causes I support.


    After the house and students loans are paid off, I would also donate some money to causes that I support and travel to Europe especially Franceicon_smile.gif.
  • tsgt

    Posts: 5

    Jul 11, 2015 4:52 PM GMT
    Assuming $500,000 after taxes I would use $200,000 to pay bills avoiding bankruptcy (which I am in the process of doing). Invest $200,000 of the rest in some business my friends are starting. Keep back $100,000 for future medical bills and expenses.
  • HottJoe

    Posts: 21366

    Jul 11, 2015 5:02 PM GMT
    Pay off the house. Then my husband and I would quit our jobs and have more time to spend on our writing careers.
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    Jul 11, 2015 5:03 PM GMT
    I will invest it ....
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    Jul 11, 2015 6:18 PM GMT
    retire, and buy a new Mustang GT or Shelby GT350
  • FRE0

    Posts: 4864

    Jul 11, 2015 7:11 PM GMT
    First of all, $1 million is simply middle class; it isn't enough to make one wealthy. The wisest thing to do with it would be to invest it properly and keep quiet about it. Assuming a safe 4% rate of return which would still permit the principal to grow with inflation, it would provide an annual income of $40K which would not be enough to maintain a luxurious lifestyle, but in addition to what one would normally earn by working, it would be very helpful. Or, one could simply permit the principal to grow for a while and not get any income from it.

    Using it to pay off a mortgage might not be the wisest use unless the mortgage interest is very high and refinancing to get a lower interest rate is impossible.

    Later, after carefully thinking about it, one might use part of the money to start a business.

    Fifty years ago a millionaire would have been considered to be wealthy but, with inflation, that is no longer the case.
  • Webster666

    Posts: 9217

    Jul 11, 2015 8:48 PM GMT
    I'd pay off my mortgage (about $20,000).
    I can't think of anything else that I want or need.
  • toastvenom

    Posts: 1020

    Jul 11, 2015 10:12 PM GMT
    barely buy a place to own in toronto
  • Jonno11

    Posts: 181

    Jul 12, 2015 6:17 AM GMT
    If i won it through lottery say, theres no tax on that here, so 500 grand in investments, pay off all debts, buy a property with a legal suite to rent out and make some additional income off, and take 30 grand and go travel for half a year.
  • metta

    Posts: 39106

    Jul 12, 2015 6:20 AM GMT
    Webster666 saidI'd pay off my mortgage (about $20,000).
    I can't think of anything else that I want or need.


    I wish that I only owed that much.
  • Marko89

    Posts: 239

    Jul 12, 2015 7:29 AM GMT
    Put $900 k away in the bank and just live off the left over $100k.
  • Coast

    Posts: 24

    Jul 12, 2015 7:47 AM GMT
    Probably get a house then invest the rest elsewhere icon_smile.gif