If you had $1,000,000

Artashes

Artashes

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Just listening to a "If I had a million dollars..." song from Barenaked Ladies and it made me think - what would you do with $1,000,000 if you were to win it tomorrow? But don't just say: I will buy a house or go on trips. Be precise. What would your budget be for every item on your list. If you were to invest a portion of your money, where and what would you invest it in?
 
If it was me, i would invest it into the bank straight away. I could live off the interest alone.
 
I couldnt live off the interest (unless it was £1M we were talking about for us in the UK). I would pay off my mortgage as well as helping out the rest of my familys mortgages. I would then quit work and start up a business and budget for the following few years.
 
1. Start up a restaurant. My wife wants one. Budget... it depends. If I would buy the location, it could go very high. I don't think I'd be buying as IMO there's a real estate bubble where a live.
So, $150000.

2. Put something aside (really safe bank account, yield not important), just in case things go bad, I go nuts and spend everything else etc. Say $100000.

3. Buy an online property, or more. Relatively big forums with high return potential would be quite high on the list. Other investments. The budget could vary, but say $400000.

4. Help the parents live a more relaxed life: 2x$50000.

5. $100000 to help my brother with mortgage, but he may spend them anyway he decides to. :)

6. $150000 travel and otherwise have fun.

There would of course be other miscellaneous stuff, but no high amounts worth to mention, but they might take a bit from the other budgets.
 
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unless it was £1M we were talking about for us in the UK
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Thats what i mant.

I have not really planned what i would do as im never sure if i will meet the one million mark - be good if i did :D
 
Interesting answers. While interest alone could potentially close living expenses, this is not enough to really expand your wings.

Here is what I would do.

1. Make a downpayment for my own place. $50,000 for example.

2. Set $250,000 aside (interest bearing account). Preferrably in a European bank since they give better interest. Interest will help cover the mortgage.

2. Invest about $400-600K in various businesses. I will never put all eggs in one basket.

3. The rest will repay all the loans me and my girlfriend owe. Buy gifts for my loved ones and take a few trips to places I wanted to visit.

4. Take the HostingDiscussion team to a nice all-paid trip!
 
1. Donate some to charity.. I've seen people suffering out there, they can't afford food, clothes, somewhere to sleep and I'd want to help them out. Heck, there are people out there with talent, they just don't have the funds to get themself noticed.

2. Travel to a few cities in the states, do a europe trip and just meet my friends, who are all scattered around the world.

3. Invest part of it too. I wouldn't want to blow it all at once, so investing it in something would be a smart idea.

Other than that.. not sure why I'd need money. I've learned fast cars, big homes... it all means nothing in the end. Family, Friends and loved ones is what counts in the end only.
 
Yes i aggree investment would be a good thing to do. I would want to invest at least half of it.

Im hoping to go to kenya in 2009 with a group of people and we have to raise the money by fundraising / donations so i would want to donate at least four thousand of the one million to cover my cost.
 
Marks said:
I hope you are not banking with Northern Rock ;)
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Or a bank in the United States. Our dollar sucks, our government is dumb, and I really don't foresee a great change in the future. At least, in part, thanks to the mentality and sheep called citizens.

Assuming this is a million AFTER the IRS has their way with it...not before...

I'd probably invest 100-150k of it in foreign currencies.

I'd buy a nice house, nothing over the top, but something with a little land, maybe an acre or two, wouldn't need much really. Let's say 500-650k for this.

With the remaining money I'd probably furnish the house, buy myself a truck and a new car for better half - and take a trip. Anything remaining would go in bank account.

I'd keep my job, I wouldn't retire - but I would live comfortably. Would only have to pay property taxes and misc bills here and there. With no house payment that frees up a lot of money every month. I wouldn't want to live extravagant but I would live comfortably.
 
I would first split the cash in half, and put $500k in the bank for the family. I would put $100k in the bank for each of my children, get a new car for the wife, and then use the rest of that half to hire a hitman to kill me off with detailed instructions on how to collect his money.
 
and then use the rest of that half to hire a hitman to kill me off with detailed instructions on how to collect his money.
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You're not in the best of moods it seems, or you've got an special sense of humor. :)

In any case, you're probably overpaying the hitman. But hey, if you want a quality job done... :P
 
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ANMMark said:
I would first split the cash in half, and put $500k in the bank for the family. I would put $100k in the bank for each of my children, get a new car for the wife, and then use the rest of that half to hire a hitman to kill me off with detailed instructions on how to collect his money.
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I have Agent 47 sitting here next to me, want me to send him over for your mission? :p

I'm very surprised, no one here would bother to give "any" amount to charity?
 
Harry said:
I'm very surprised, no one here would bother to give "any" amount to charity?
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I don't believe in most charitable organizations. I would love to do something charitable, but only if I control how money is spent.
Or better yet, I would rather travel and give the money directly to people personally, without any fixed/overhead organizational costs associated with that. Low key, but more efficient.


Mark, a hitman? What are friends for? I will "do" you for free. :D
 
I am not really sure what I would do with all that money. It's easy to think what you might do while you don't actually have the money, but I tend to think it would be entirely a different story once you had the money in your possession.

Here are a couple things I would expect to do:

1. Take $300,000 and put it in a high interest bank account

2. Buy a house that would cost around $300,000 - $400,000

3. Buy my mother a smaller house around $150,000 - $200,000

4. The rest would be invested in my company and possible other online business adventures, with the hope that would in return bring in a decent cash flow that would provide money for all the extra goodies.
 
Artashes said:
I don't believe in most charitable organizations. I would love to do something charitable, but only if I control how money is spent.
Or better yet, I would rather travel and give the money directly to people personally, without any fixed/overhead organizational costs associated with that. Low key, but more efficient.


Mark, a hitman? What are friends for? I will "do" you for free. :D
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Well I guess I wasn't clear on it.

Personally, I'd give it to say a College Student, that could show he/she needs it and would be putting out good grades. Things like that, because many students and people DON'T get chances due to cash, living standards etc.. etc..
 
20k By comercials
50k buy a good datacenter location
300 buy an iphone
700$ by a fancy desk
200k Nice securty system
10k mote arround it
20k a nice car

Rest screw off and have fun
 
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