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+---- Thread: A friend gifts you $1,000,000.00 USD. What do you do? (/showthread.php?tid=6001880)
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A friend gifts you $1,000,000.00 USD. What do you do? - Honeybun - Aug 24, 2019
Lets say a buddy of yours wire transfers $1,000.000.00 to your account. The funds are legitimate and no taxes are taken out. One Million, all yours.
What do you do with it? First steps? What is your strategy? Do you grow it, let it sit or blow it?
Discuss, I'm curious.
Funds are USD.
Edit:
Here are some numbers for you guys.
My high-yield savings offers a 2% interest rate, yearly. If you deposit $1,000,000 you'll make $20,000 a year in interest.
After ten years, you will have $1,200,000.00
After twenty years, you will have $1,400,000.00
Put that money into a money-market savings and you can have an even higher yield.
RE: A friend gifts you $1,000,000.00 USD. What do you do? - Regulus - Aug 24, 2019
$900,000.00 in savings to maybe buy some sort of shitty house like Who Soup does, renovate / furbish that house up, and then flip it.
Rinse and repeat.
Living life with $100,000.00
RE: A friend gifts you $1,000,000.00 USD. What do you do? - Anciety - Aug 24, 2019
invested into Forex,
Use correct risk management and never ever work a day in my life again
make 100% across a year and invest 1 million into something else etc etc.
RE: A friend gifts you $1,000,000.00 USD. What do you do? - Rigel - Aug 24, 2019
I'm paying off all my debts and I'm moving out of this apartment, first thing. Afterwards, I cut my hours to part-time at my job so I have more time for myself and construct an area in my new place for a home gym and a little studio to make YouTube videos. I won't stop working because I still am young enough to keep working while I still can and rack up the money.
RE: A friend gifts you $1,000,000.00 USD. What do you do? - ✔ Soufian ✔ - Aug 24, 2019
$500.000 in savings
$250.000 to my parent
$100.000 to live off
$150.000 to invest in a business. (If it's not enough, get a bit more off the $500k to invest)
RE: A friend gifts you $1,000,000.00 USD. What do you do? - Honeybun - Aug 24, 2019
(Aug 24, 2019 02:16 PM)Regulus Wrote: $900,000.00 in savings to maybe buy some sort of shitty house like Who Soup does, renovate / furbish that house up, and then flip it.
Rinse and repeat.
Living life with $100,000.00
$900,000.00 @ 2% interest rate yields $18,000.00 a year.
If you lived below your means you could live off of interest alone. As the funds grow, the interest dividend grows.
RE: A friend gifts you $1,000,000.00 USD. What do you do? - Blogger - Aug 24, 2019
The very first thing I'd do is pay off all of my debt. I've been waiting for a miracle like that for a while now. lol
RE: A friend gifts you $1,000,000.00 USD. What do you do? - Roberto Scorpius Malfoy - Aug 24, 2019
Donate some money to children in need of help.
RE: A friend gifts you $1,000,000.00 USD. What do you do? - Money Inc - Aug 24, 2019
Start flipping it on ebay buying bulk and reselling, sorry but 2% per 10 years is so damn slow.
RE: A friend gifts you $1,000,000.00 USD. What do you do? - zeroday - Aug 24, 2019
Invest a lot of it into student accommodation. Around here you can get 14.5% per year
RE: A friend gifts you $1,000,000.00 USD. What do you do? - Silent hill - Aug 24, 2019
i'll invest in a lot of coins, ill make over 2-3% profit everyday.
$500,000 to invest in coins.
$250,000 leave my country and buy new house + car
$100,000$ in a bank just in case something bad happen.
$150,000 to travel for at least 50 countries.
and don't forget the 2-3% i'll make daily from my $500,000. (10,000$ daily)
RE: A friend gifts you $1,000,000.00 USD. What do you do? - Rigel - Aug 24, 2019
(Aug 24, 2019 03:58 PM)Blogger Wrote: The very first thing I'd do is pay off all of my debt. I've been waiting for a miracle like that for a while now. lol
Get a lottery ticket every week. Who knows, your luck may change in the future if you play the game.
RE: A friend gifts you $1,000,000.00 USD. What do you do? - Justthere - Aug 24, 2019
Buy an isolated house and some land at the border of the city, grow my own food and live off the rest of the money, small investments and creative projects I can finally indulge in since I have all the time of the world. It would be heaven.
RE: A friend gifts you $1,000,000.00 USD. What do you do? - CORRYL - Aug 24, 2019
I will spend a half for buying property.
Other one, will uses it to invest on stock trading and project online.
Not need good strategy, just need good timing when entering the market.
RE: A friend gifts you $1,000,000.00 USD. What do you do? - Blogger - Aug 25, 2019
(Aug 24, 2019 05:45 PM)Rigel Wrote: Get a lottery ticket every week. Who knows, your luck may change in the future if you play the game.
I would but that's illegal in my state.