thatonethere Posted December 29, 2009 Share Posted December 29, 2009 What would you do if you had 5 million dollars all of a sudden? Link to comment Share on other sites More sharing options...
Chreees Posted December 29, 2009 Share Posted December 29, 2009 Quit my job, buy a modest house and a modest new car (nothing too expensive), finish college, invest most of the money safely and try to get a good job with my degree. The invested money would ensure a nice retirement for me and make sure I'm taken care of. Definitely wouldn't let greed get the better of me... Link to comment Share on other sites More sharing options...
fineout Posted December 29, 2009 Share Posted December 29, 2009 take forever to finish college and not feel bad about it by only being part time, buy a porsche 911 and a small house with a nice sized yard, and invest the rest Link to comment Share on other sites More sharing options...
mint Posted December 29, 2009 Share Posted December 29, 2009 Blow it all on strippers! Err, nah. I'd buy my own place, pay off school, and buy a business that would provide extra income for safety in the future. (Then, I'd become a sugar momma and have a young, sexy man do all my bidding and give me back and foot massages and make me hookahs whenever I wanted, as well as cook, clean, and oh, he'd never be allowed to wear a shirt.) 1 Link to comment Share on other sites More sharing options...
Charley Posted December 29, 2009 Share Posted December 29, 2009 honest answer is I would start a porn business. but if for some reason I decided not to do that I think I would open like a coffee house/hookah lounge type deal in Nashville Indiana. buy a nice size house. not overly pricey only around 200-300k give or take. buy a new car something like one of the cheaper hybrids on the market (or maybe a Buick Century or something like that.) then I would place at least 1 mill into a savings account and have the interest auto transfer into my checking to use to live off of. the rest would be placed into CD's starting at short term and progressing up to long term rolled back into more CD's until I get them all into long term but yet still have 1 or 2 mature once a year. placing the interest received from them into savings. altho knowing myself the way I do what would most likely happen is ill go off my meds higher a bunch of little ppl to follow me around in libre masks and singing f-ed up songs. Link to comment Share on other sites More sharing options...
Chreees Posted December 29, 2009 Share Posted December 29, 2009 [quote name='Charley' date='29 December 2009 - 10:20 AM' timestamp='1262103628' post='442259'] honest answer is I would start a porn business. but if for some reason I decided not to do that I think I would open like a coffee house/hookah lounge type deal in Nashville Indiana. buy a nice size house. not overly pricey only around 200-300k give or take. buy a new car something like one of the cheaper hybrids on the market (or maybe a Buick Century or something like that.) then I would place at least 1 mill into a savings account and have the interest auto transfer into my checking to use to live off of. the rest would be placed into CD's starting at short term and progressing up to long term rolled back into more CD's until I get them all into long term but yet still have 1 or 2 mature once a year. placing the interest received from them into savings. [b]altho knowing myself the way I do what would most likely happen is ill go off my meds higher a bunch of little ppl to follow me around in libre masks and singing f-ed up songs.[/b] [/quote] I lol'd. Link to comment Share on other sites More sharing options...
Giant Ninja Robot Posted December 29, 2009 Share Posted December 29, 2009 Man....first I'd quit my fucking job. Then I would buy my family a nice home in the neighborhood we've always wanted to live in, nothing too extravagant, buy a Honda as a second vehicle, put money aside into college funds for my girls, buy them a nice playscape for the backyard, go for a peaceful family vacation, buy my wife a fantastic double french horn, take the honeymoon we never took with a small elegant ceremony we never had, do a ton of small loving things for the people who have helped us along the way, then conservatively invest the shit out of at least 1 mil likely more and put 1-2 mil in savings to accumulate interest for most of the daily living expenses. Then I would volunteer a bunch, spend lots of time with my daughters, and use the time to write novels and kids books and make music. Man alive I wish I wish I wish. Money is the absolute BIGGEST stress in my life. Link to comment Share on other sites More sharing options...
blagage Posted December 29, 2009 Share Posted December 29, 2009 pay for college, grad school, med school, car insurance and then pay back my family for lent money. Save whatever I can for my siblings college so i can help my family out. Link to comment Share on other sites More sharing options...
Rani Posted December 29, 2009 Share Posted December 29, 2009 Well, let's assume it's a windfall like winning the lottery..... Sooooo...... $5,000,000.00 There are no state taxes on state lottery winnings but the fed takes 25% so it's now...... $3,750,000.00 Assume $1M off the top for a house, furnishings, car, whatever..... leaving..... $2,750,000.00 Invested in tax free municipal bonds at 4% (tax free until you withdraw the interest that is), you'd have a yearly income of.......... $110,00.00 per year of which you'd likely pay 18% taxes at the most when you withdraw the interest off the bonds, so it would leave......... $90,200.00 per year annual income. Counting for inflation, in 20 years that would be worth about half that. $5 Million just doesn't go as far as it used to....... 'Rani Oh, wait......! Me personally? Expatriate, bank it all overseas and retire to some nice stable small country where my dollars are worth at least twice what they are here. Link to comment Share on other sites More sharing options...
Arcane Posted December 29, 2009 Share Posted December 29, 2009 well, i'm going to assume it's 5 million AFTER taxes....(thanks for the idea, Rani!!) 1. I'm not sure, but I think the military will separate me. If not, serve the rest of my time and then get out. 2. Invest half the money and hopefully, live off interest. Maybe open a small coffee shop/bakery. 3. Buy out one of my parent's house in San Diego 4. Buy the H-D Iron 883 5. Have a couple people killed 6. Maybe buy some new jeans and a few t-shirts 7. Buy something nice for a few people on the HF forums 8. Fly a couple of the HF Members out to San Diego, so I can chill with them [Mark, Wade, Chris, Neha, Brandy (Sapphire), Jon, and John(mattarios)].....maybe a couple of others too, just can't remember there names. You SoCal people better just drive your asses down to San Diego!! Daniel/Scott...i may buy your plane tickets as well. 9. I'm pretty sure that's a lot less than 2.5mil.....sooo, the rest goes into the bank too. Link to comment Share on other sites More sharing options...
Giant Ninja Robot Posted December 29, 2009 Share Posted December 29, 2009 Jay that would be so badass. And I did forget to add I would sneakily research what some solid forum peeps dream pipes are and buy them for them along with a crapton of coals and shisha. Link to comment Share on other sites More sharing options...
indian_villager Posted December 29, 2009 Share Posted December 29, 2009 Pay off school. Get my dad a Restored 1960 Chevy Bel-Air, My mom a Porsche Cayeanne GTS. And put the rest toward one of the inventions I have popping around in my head. Link to comment Share on other sites More sharing options...
foibled again Posted December 29, 2009 Share Posted December 29, 2009 [quote name='Rani' date='29 December 2009 - 11:52 AM' timestamp='1262116366' post='442309'] Well, let's assume it's a windfall like winning the lottery..... Sooooo...... $5,000,000.00 There are no state taxes on state lottery winnings but the fed takes 25% so it's now...... $3,750,000.00 [/quote] Federal tax, assuming year 2009, would be 35% plus a fixed amount (over $100,000) depending on your tax filing status. The first 370k or so would be taxed less based on the brackets. In CA, add another 10.55% to that. So say for a single guy living in CA, he's paying $1,899,913.5 in federal taxes and $527,500 in state taxes leaving him $2,572,586.5. That's ~48.5% taken in taxes (estimated using tax brackets only). Link to comment Share on other sites More sharing options...
Rani Posted December 29, 2009 Share Posted December 29, 2009 [quote name='foibled again' date='29 December 2009 - 01:40 PM' timestamp='1262122808' post='442340'] [quote name='Rani' date='29 December 2009 - 11:52 AM' timestamp='1262116366' post='442309'] Well, let's assume it's a windfall like winning the lottery..... Sooooo...... $5,000,000.00 There are no state taxes on state lottery winnings but the fed takes 25% so it's now...... $3,750,000.00 [/quote] Federal tax, assuming year 2009, would be 35% plus a fixed amount (over $100,000) depending on your tax filing status. The first 370k or so would be taxed less based on the brackets. In CA, add another 10.55% to that. So say for a single guy living in CA, he's paying $1,899,913.5 in federal taxes and $527,500 in state taxes leaving him $2,572,586.5. That's ~48.5% taken in taxes (estimated using tax brackets only). [/quote] According to lottery information, the fed takes 25% off the top (I know someone who won). The rest would be fluid and depend on whether you go with 10 year averaging, and lots of other little tax tricks. So I used the 25% in my example. 'Rani Link to comment Share on other sites More sharing options...
foibled again Posted December 29, 2009 Share Posted December 29, 2009 [quote name='Rani' date='29 December 2009 - 01:47 PM' timestamp='1262123271' post='442342'] According to lottery information, the fed takes 25% off the top (I know someone who won). The rest would be fluid and depend on whether you go with 10 year averaging, and lots of other little tax tricks. So I used the 25% in my example. 'Rani [/quote] Ah, I thought the 25% was just the amount withheld for federal income tax and not what is taxed. Link to comment Share on other sites More sharing options...
Rani Posted December 29, 2009 Share Posted December 29, 2009 [quote name='foibled again' date='29 December 2009 - 01:58 PM' timestamp='1262123901' post='442345'] [quote name='Rani' date='29 December 2009 - 01:47 PM' timestamp='1262123271' post='442342'] According to lottery information, the fed takes 25% off the top (I know someone who won). The rest would be fluid and depend on whether you go with 10 year averaging, and lots of other little tax tricks. So I used the 25% in my example. 'Rani [/quote] Ah, I thought the 25% was just the amount withheld for federal income tax and not what is taxed. [/quote] Yeah, it's almost like walking off a game show where you won and there's a representative waiting for you to collect a share for the Fed. They want at least an estimated portion up front and then you can manipulate from there depending on what tax shelters you use, etc. You can even re-file past taxes for up to 3 years to add in the 10-year averaging, etc. Lots of options and a financial pain in the ass but I guess it's better to have the money than not. 'Rani Link to comment Share on other sites More sharing options...
agstevens Posted December 29, 2009 Share Posted December 29, 2009 Pay off my car, move in with my fiance, put the rest away for later. Link to comment Share on other sites More sharing options...
Rani Posted December 29, 2009 Share Posted December 29, 2009 Anyone else notice that the absolutely first thing that should be on the list we all totally missed? 1) Find a damn good financial advisor. 'Rani Link to comment Share on other sites More sharing options...
ryno Posted December 30, 2009 Share Posted December 30, 2009 I'd buy that island we were looking at getting... Link to comment Share on other sites More sharing options...
Amn_sinclair Posted December 30, 2009 Share Posted December 30, 2009 [quote name='ryno' date='30 December 2009 - 01:24 AM' timestamp='1262132650' post='442378'] I'd buy that island we were looking at getting... [/quote] dont forget the boat and SUV too Link to comment Share on other sites More sharing options...
foibled again Posted December 30, 2009 Share Posted December 30, 2009 [quote name='Rani' date='29 December 2009 - 03:36 PM' timestamp='1262129800' post='442369'] Anyone else notice that the absolutely first thing that should be on the list we all totally missed? 1) Find a damn good financial advisor. 'Rani [/quote] The absolute first thing on my list would be a publicist with the know how to keep people from finding out I just got that much money. Link to comment Share on other sites More sharing options...
thatonethere Posted January 4, 2010 Author Share Posted January 4, 2010 I'd pay off my house, pay somebody to finish fixing it up. Quit my job, set up the rest of the money so I can just live off of the interest. I'd probably buy a newer Subaru Outback wagon. Who knows what else I'd do with it. Maybe travel for 6 months and leave the debt driven American rat race behind. Link to comment Share on other sites More sharing options...
Giant Ninja Robot Posted January 4, 2010 Share Posted January 4, 2010 [quote name='ryno' date='29 December 2009 - 08:24 PM' timestamp='1262132650' post='442378'] I'd buy that island we were looking at getting... [/quote] [IMG]http://i336.photobucket.com/albums/n322/giant_ninja_robot/banhammer-flag.gif[/IMG] Link to comment Share on other sites More sharing options...
KyleTheJustin Posted January 4, 2010 Share Posted January 4, 2010 Pay off my student loans since here in the United States we have to pay an arm and a leg for an education to get a better job. After that I'd set aside enough to move to Canada, at least 300k to start a hookah bar (way more than needed lol), and use the rest to help out people who don't have anything. This includes homeless people, those that lost their jobs, etc. I might buy a new house, but it depends on where in Canada I moved to. Toronto--no. BC--maybe. Quebec--fuck no. Anywhere else--highly probable. 1 Link to comment Share on other sites More sharing options...
Stuie Posted January 4, 2010 Share Posted January 4, 2010 1) Tithe 2) Pay off remaining debt. 3) Purchase a small building off Sundance Square in Fort Worth. Turn the top two floors into my house, the bottom floor into a Hookah Lounge/Tea House/ Coffee Bar. (Any remaining floors?) 4) Invest several diversified Mutual funds to spread the remaining 50% of the money for investing and retirement. 5) Setup a Trust fund for my little girl. 6) Remainder, Buy a Brand new Chevy Suburban and Investment Property Link to comment Share on other sites More sharing options...
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