What would YOU do with $1,000,000???
11-14-2002 | 11:03 AM
#3
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Joined: Jul 2002
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From: Port-au-Prince, Haiti
I would start a bar with part of it. I would name it "A Shady Dive" so that when someone asked "Where ya goin' tonight?" You could say you were going to a shady dive.
The rest of the money would go to activities paralleling Josh's wise investments....
The rest of the money would go to activities paralleling Josh's wise investments....
11-14-2002 | 01:07 PM
#4
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Joined: Oct 2001
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From: Camarillo
Originally posted by The Unabageler
pay off debts, charity, get a decent house with a nice garage and and a racecar and invest the rest.
pay off debts, charity, get a decent house with a nice garage and and a racecar and invest the rest.
In Josh's scenario here, that would probably not go too far:
pay off debts - OK
charity - $20?
get a decent house with a nice garage - where you live? Isn't that like $1 million alone???
and a racecar - sorry, you're stuck with the s2000
and invest the rest. - oops, none left.
$1 million just doesn't go that far these days.
What would I do?
Buy my own damn S2000 so I don't have to share. I never did like kindergarten!
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11-14-2002 | 01:51 PM
#9
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Joined: Mar 2001
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From: Dana Point, CA
I guess my answer would depend.
$1MM before taxes would leave me about $550,000 or so.
I'd pay off the mortgage, pay off our student loans, pay off the cars and then do one of two things. I'd either apply to an executive MBA program or start the process to get my real estate license. I'd certainly keep working, as would my wife.
$1MM after taxes presents a bit of a different sceneario.
I'd pay off all the things mentioned above but I'd also buy mabye 3 acres of land on the Big Island of Hawaii and develop a humble but spacious property to live on. My wife could work remote and I'd probably just try and pick up a job at a local surf shop to keep me busy. I'd also look into splitting my time doing some charity work with continued schooling. My goal would be to put together a comfortable paradigm for my wife and I to live in on the Big Island and let our money work for us in a safe environment. I figure that If I can remove the stress of making mortgage payments and the slave labor I now endure as a corporate coward, all the while enjoy the trade winds and a view of the Pacific, life would be pretty damn good.
I honestly can't see myself buying expensive cars, jewelry, boats or any of that crap. Now if I had $10 million after taxes, that's a far different story!
I'd probably end up taking a two week vacation in either scenario as well. Kind of a relax, and get my mind back right break from this year end crush.
$1MM before taxes would leave me about $550,000 or so.
I'd pay off the mortgage, pay off our student loans, pay off the cars and then do one of two things. I'd either apply to an executive MBA program or start the process to get my real estate license. I'd certainly keep working, as would my wife.
$1MM after taxes presents a bit of a different sceneario.
I'd pay off all the things mentioned above but I'd also buy mabye 3 acres of land on the Big Island of Hawaii and develop a humble but spacious property to live on. My wife could work remote and I'd probably just try and pick up a job at a local surf shop to keep me busy. I'd also look into splitting my time doing some charity work with continued schooling. My goal would be to put together a comfortable paradigm for my wife and I to live in on the Big Island and let our money work for us in a safe environment. I figure that If I can remove the stress of making mortgage payments and the slave labor I now endure as a corporate coward, all the while enjoy the trade winds and a view of the Pacific, life would be pretty damn good.
I honestly can't see myself buying expensive cars, jewelry, boats or any of that crap. Now if I had $10 million after taxes, that's a far different story!
I'd probably end up taking a two week vacation in either scenario as well. Kind of a relax, and get my mind back right break from this year end crush.
