What would you do with $5M?
May 10th, 2015 at 11:04:11 PM
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Some interesting socioeconomic questions being tossed around lately so here's another:
If you woke up tomorrow morning with $5 million (tax free) sitting in a bank account, what would you do with it? Assume it's legitimately yours, not the result of some criminal activity. (This doesn't preclude you from engaging in criminal activity with the $5M if that's your thing...)
If you woke up tomorrow morning with $5 million (tax free) sitting in a bank account, what would you do with it? Assume it's legitimately yours, not the result of some criminal activity. (This doesn't preclude you from engaging in criminal activity with the $5M if that's your thing...)
"In my own case, when it seemed to me after a long illness that death was close at hand, I found no little solace in playing constantly at dice."
-- Girolamo Cardano, 1563
May 10th, 2015 at 11:21:37 PM
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I would invest 4 million and have 1 million available for whatever I wanted whenever I wanted it.
May 10th, 2015 at 11:28:40 PM
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Wonder why I checked my bank account first thing in the morning.
I'd drop a healthy amount into real estate investments. Even at regular bank interest rates, the interest at 5m would exceed the burn rate at my current standard of living. Probably leave about 500k in very liquid forms for the foreseeable future. House maintenance and upgrades (especially trimming the palms...). Replace my aging Accord so the rest of my family will stop complaining about it. Get a few picture frames for a few paintings so they're not stuck in their shipping tubes forever. Largely, 'things I should do/have done but don't want to'.
Yeah, I'm a boring pragmatist by choice.
I'd drop a healthy amount into real estate investments. Even at regular bank interest rates, the interest at 5m would exceed the burn rate at my current standard of living. Probably leave about 500k in very liquid forms for the foreseeable future. House maintenance and upgrades (especially trimming the palms...). Replace my aging Accord so the rest of my family will stop complaining about it. Get a few picture frames for a few paintings so they're not stuck in their shipping tubes forever. Largely, 'things I should do/have done but don't want to'.
Yeah, I'm a boring pragmatist by choice.
May 11th, 2015 at 12:44:25 AM
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5M....I wouldn't have to wait until 8pm to buy my Sonic milkshakes (half price @ 8pm). :/
May 11th, 2015 at 1:23:44 AM
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5 million would probably set me up for life, more or less.
I'd buy a house, furniture for the house, calculate the budget for the following year and put the rest in blue chip stocks, withdrawing anything I need roughly annually.
I'd buy a house, furniture for the house, calculate the budget for the following year and put the rest in blue chip stocks, withdrawing anything I need roughly annually.
May 11th, 2015 at 2:24:39 AM
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First thing you married men should do is find a way to hide it from your wife.
♪♪Now you swear and kick and beg us That you're not a gamblin' man Then you find you're back in Vegas With a handle in your hand♪♪ Your black cards can make you money So you hide them when you're able In the land of casinos and money You must put them on the table♪♪ You go back Jack do it again roulette wheels turinin' 'round and 'round♪♪ You go back Jack do it again♪♪
May 11th, 2015 at 2:24:40 AM
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Probably invest 1M of it or whatever you do to get moneyz (like $80K a year?). Then quit my job (dealing), well maybe. Actually yeah I would. But I'd quit my job to go full-time AP....not so I can retire or lounge around and do nothing.
But, I'd keep doing the same thing I'm doing right now (AP-wise), just on a bigger scale...and without my stupid job tying me down to this city and not letting me travel n whatnot.
But, I'd keep doing the same thing I'm doing right now (AP-wise), just on a bigger scale...and without my stupid job tying me down to this city and not letting me travel n whatnot.
May 11th, 2015 at 2:37:01 AM
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Ill let you in on an AP secret.Quote: RSProbably invest 1M of it or whatever you do to get moneyz (like $80K a year?). Then quit my job (dealing), well maybe. Actually yeah I would. But I'd quit my job to go full-time AP....not so I can retire or lounge around and do nothing.
But, I'd keep doing the same thing I'm doing right now (AP-wise), just on a bigger scale...and without my stupid job tying me down to this city and not letting me travel n whatnot.
Any single true AP(some not) is required to do this for a month https://www.youtube.com/watch?v=IhSJjG5tv4Y
♪♪Now you swear and kick and beg us That you're not a gamblin' man Then you find you're back in Vegas With a handle in your hand♪♪ Your black cards can make you money So you hide them when you're able In the land of casinos and money You must put them on the table♪♪ You go back Jack do it again roulette wheels turinin' 'round and 'round♪♪ You go back Jack do it again♪♪
May 11th, 2015 at 2:40:11 AM
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LIVE IN THAILAND FOR A MONTH? F*CK THAT.
May 11th, 2015 at 2:46:41 AM
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I don't make the rules.Quote: RSLIVE IN THAILAND FOR A MONTH? F*CK THAT.
You're not single and 45+ so your safe for a while.
There's only a few ways out of it.
♪♪Now you swear and kick and beg us That you're not a gamblin' man Then you find you're back in Vegas With a handle in your hand♪♪ Your black cards can make you money So you hide them when you're able In the land of casinos and money You must put them on the table♪♪ You go back Jack do it again roulette wheels turinin' 'round and 'round♪♪ You go back Jack do it again♪♪
May 11th, 2015 at 2:53:05 AM
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I'll give you $100,000 of my 5 million right now just to make sure I'd never set foot in Thailand
May 11th, 2015 at 2:55:30 AM
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I like the saying from office space, "what would you do with a million dollars?"
in before 2 chicks at the same time....
But seriously i would start by paying big ticket items in cash (a house, a car) and then set $2-3mil for ap, on a grand scale. First i would play bigger low edge games to determine ev in the form of mailers and goodies. Replicate the process by getting employees to do the same with my results. Chase ev wherever i can regardless of advantage, such as playing full pay ddb at $25+ at 100.06%. Seek international opportunities like BJ.
in before 2 chicks at the same time....
But seriously i would start by paying big ticket items in cash (a house, a car) and then set $2-3mil for ap, on a grand scale. First i would play bigger low edge games to determine ev in the form of mailers and goodies. Replicate the process by getting employees to do the same with my results. Chase ev wherever i can regardless of advantage, such as playing full pay ddb at $25+ at 100.06%. Seek international opportunities like BJ.
"Man Babes" #AxelFabulous
May 11th, 2015 at 3:06:24 AM
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I have noted the 4% rule has not come up in any of these discussions [I don't think]. It is sobering, as for example $1 million sounds like a lot but the rule dictates that you live on $40,000/yr invested well - you increase it along for inflation, but of course that just means you don't get squeezed. You don't feel rich living on $40k ; $200k is more like it, but that can be spent with a lifestyle you are likely to be pursuing.
Anybody but a miser would splurge. I'd get that over with, I'm thinking trips to Britain and Italy. We'd get new vehicles. I would then try to convince my wife we should live on less than the 4% rule. Let's assume she agrees. With current assets we'd still have more than $5 million.
On $5 million I would try to live on $100k/yr, or close to it, plus pretty much do all the traveling I wanted. I would make sure I didn't spend more than $50/yr on that traveling, but my gambling bankroll would be separate. My bankroll for gambling would be the same except I would allow to increase at the same 0.1% of assets I do know - at first at least that would be adding $5k per year - nice! The traveling would vanquish my old gambling problem and here is where I trot out my old joke - my problem is I don't gamble enough! Plaguing me really bad right now *sigh*
PS: there is a recent NY times article on the 4% rule http://www.nytimes.com/2015/05/09/your-money/some-new-math-for-the-4-percent-retirement-rule.html?emc=eta1&_r=0
Anybody but a miser would splurge. I'd get that over with, I'm thinking trips to Britain and Italy. We'd get new vehicles. I would then try to convince my wife we should live on less than the 4% rule. Let's assume she agrees. With current assets we'd still have more than $5 million.
On $5 million I would try to live on $100k/yr, or close to it, plus pretty much do all the traveling I wanted. I would make sure I didn't spend more than $50/yr on that traveling, but my gambling bankroll would be separate. My bankroll for gambling would be the same except I would allow to increase at the same 0.1% of assets I do know - at first at least that would be adding $5k per year - nice! The traveling would vanquish my old gambling problem and here is where I trot out my old joke - my problem is I don't gamble enough! Plaguing me really bad right now *sigh*
PS: there is a recent NY times article on the 4% rule http://www.nytimes.com/2015/05/09/your-money/some-new-math-for-the-4-percent-retirement-rule.html?emc=eta1&_r=0
the next time Dame Fortune toys with your heart, your soul and your wallet, raise your glass and praise her thus: “Thanks for nothing, you cold-hearted, evil, damnable, nefarious, low-life, malicious monster from Hell!” She is, after all, stone deaf. ... Arnold Snyder
May 11th, 2015 at 3:07:37 AM
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Summer Home in Washington state PNW.
Look into an online casino.
look into Competing with Dotty's.
Find a way to give friends a better job.
Look into an online casino.
look into Competing with Dotty's.
Find a way to give friends a better job.
♪♪Now you swear and kick and beg us That you're not a gamblin' man Then you find you're back in Vegas With a handle in your hand♪♪ Your black cards can make you money So you hide them when you're able In the land of casinos and money You must put them on the table♪♪ You go back Jack do it again roulette wheels turinin' 'round and 'round♪♪ You go back Jack do it again♪♪
May 11th, 2015 at 3:08:49 AM
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Quote: djatcI like the saying from office space, "what would you do with a million dollars?"
- I wouldn't say I've been missing it, Bob.
So yeah, for me, just the boring stuff.
a) pay-off the house, then sell and get a place with some land
b) pay off the other stuff
c) get a nicer car
d) retire
e) travel around staying at different casinos I've never been to before
f) take a cruise in Alaska with a cabin with balcony
I'm going to do most of these things. Someday.
There's emptiness behind their eyes
There's dust in all their hearts
They just want to steal us all and take us all apart
May 11th, 2015 at 5:13:39 AM
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Quote: AxelWolfIll let you in on an AP secret.
Any single true AP(some not) is required to do this for a month https://www.youtube.com/watch?v=IhSJjG5tv4Y
OK, I'll bite. I could walk that street for a day or two. A month? Probably get mugged, then killed, then made into a stew long before month was over. Lot's of girls with placards reading '69' draft beer. If Thai Bhat that's about $2, so the beer isn't dirt cheap. Not sure bout the price on the girls. I'll watch again, just for clarification.
Youuuuuu MIGHT be a 'rascal' if.......(nevermind ;-)...2F
May 11th, 2015 at 5:48:44 AM
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My dream has always been to have a winter home in Vegas and a summer home in Northern Wisconsin. Those are the first two things I would do. I would have a nice dinner at Gibson's in downtown Chicago and I would invest 40% of it.
A flute with no holes is not a flute, a donut with no holes is a danish
May 11th, 2015 at 6:12:42 AM
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Quote: MathExtremistSome interesting socioeconomic questions being tossed around lately so here's another:
If you woke up tomorrow morning with $5 million (tax free) sitting in a bank account, what would you do with it? Assume it's legitimately yours, not the result of some criminal activity. (This doesn't preclude you from engaging in criminal activity with the $5M if that's your thing...)
buy back WoO and WoV for $2.4M but keep the Wiz's contract intact.
then constantly misquote the Wiz :)
Craps is paradise (Pair of dice).
Lets hear it for the SpeedCount Mathletes :)
May 11th, 2015 at 7:50:40 AM
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I can not imagine why people continue to work after having enough money to live a life at an income level they would be comfortable with.
I would be lying on a beach in the Caribbean every day.
I would be lying on a beach in the Caribbean every day.
At my age, a "Life In Prison" sentence is not much of a deterrent.
May 11th, 2015 at 7:59:16 AM
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Quote: DRichI can not imagine why people continue to work after having enough money to live a life at an income level they would be comfortable with.
I would be lying on a beach in the Caribbean every day.
ok, fine.
hookers and blow in south America.
(why pay more for coke's middle man markup when u can get it from the source countries?)
heck, just buy the coke plant and eat the live leaves
Craps is paradise (Pair of dice).
Lets hear it for the SpeedCount Mathletes :)
May 11th, 2015 at 8:11:51 AM
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5 mill......horn high yo
get second you pig
May 11th, 2015 at 8:16:26 AM
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Quote: DRichI can not imagine why people continue to work after having enough money to live a life at an income level they would be comfortable with.
I would be lying on a beach in the Caribbean every day.
I don't consider $5M enough money to retire on and live comfortably at the age of 36. in 30 years, I anticipate houses that run for 300K now to be going for 2M, and gas being at $10 per gallon
A flute with no holes is not a flute, a donut with no holes is a danish
May 11th, 2015 at 8:43:45 AM
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What I should do:
Pay off the various debts, establish investments, live off of 60% of the income.
I'd really try to set up something for the kid; she'll need some startup money in about 15 years. If I tucked a million away at 1% (pretty straightforward at the moment), that should pay for tuition, even after egregious increases.
If I was a freaking genius, I'd open a title loan shop, or similar usurious financial institution.
What I'd probably do:
Pay off the various debts, waste about $200k goofing off, then set up investments and try to live off the income but probably have to dip into capital because I'm not nearly as disciplined as I should be.
Pay off the various debts, establish investments, live off of 60% of the income.
I'd really try to set up something for the kid; she'll need some startup money in about 15 years. If I tucked a million away at 1% (pretty straightforward at the moment), that should pay for tuition, even after egregious increases.
If I was a freaking genius, I'd open a title loan shop, or similar usurious financial institution.
What I'd probably do:
Pay off the various debts, waste about $200k goofing off, then set up investments and try to live off the income but probably have to dip into capital because I'm not nearly as disciplined as I should be.
May the cards fall in your favor.
May 11th, 2015 at 8:57:04 AM
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Quote: Gabes22My dream has always been to have a winter home in Vegas and a summer home in Northern Wisconsin.
Whereabouts? Danbury is cheap, but Necedah (central, not northern) is a heck of a lot prettier (and closer to everything), IMO.
May the cards fall in your favor.
May 11th, 2015 at 9:05:48 AM
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Quote: DieterWhereabouts? Danbury is cheap, but Necedah (central, not northern) is a heck of a lot prettier (and closer to everything), IMO.
I have been going to a lake way further north than Necedah. Little town called Birchwood. Biggest town around there is Rice Lake.
A flute with no holes is not a flute, a donut with no holes is a danish
May 11th, 2015 at 9:12:40 AM
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Quote: Gabes22I don't consider $5M enough money to retire on and live comfortably at the age of 36. in 30 years, I anticipate houses that run for 300K now to be going for 2M, and gas being at $10 per gallon
Depends how long you expect to live
May 11th, 2015 at 9:20:18 AM
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I would pay off my credit cards, hospital bills, and student loans. Then 2 chicks at the same time.
After that I would hire a lawyer and financial advisor and figure out how to achieve my dream of not working and having no obligations.
After that I would hire a lawyer and financial advisor and figure out how to achieve my dream of not working and having no obligations.
May 11th, 2015 at 9:39:10 AM
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Quote: darthxaosI would pay off my credit cards, hospital bills, and student loans. Then 2 chicks at the same time.
After that I would hire a lawyer and financial advisor and figure out how to achieve my dream of not working and having no obli
gations.
Gotta be careful about hiring people. I have seen so many stories about people getting drained by those people.
I would of course buy a decent but not to expensive house. I would buy 2 new cars but just basic cars. I would allocate the rest of the money in a well thought out plan. Just like I do now on trips to vegas. I would have an account laid out to buy cars for the next 40 years accounting for appreciation, same goes with all other expenses.
Oh forgot about the first 2 weeks I would blow 200k on an awesome vacation.
Expect the worst and you will never be disappointed.
I AM NOT PART OF GWAE RADIO SHOW
May 11th, 2015 at 9:51:27 AM
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Keep doing the same thing I've been doing. Pay of all debts first and foremost. Don't need a $300k house or expensive sports car either.
DUHHIIIIIIIII HEARD THAT!
May 11th, 2015 at 9:53:05 AM
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Quote: DRichI can not imagine why people continue to work after having enough money to live a life at an income level they would be comfortable with.
I would be lying on a beach in the Caribbean every day.
I can't imagine a more boring life. That is a vacation not a life. If you don't have a reason to get up every morning soon you won't be able to.
Be careful when you follow the masses, the M is sometimes silent.
May 11th, 2015 at 10:10:16 AM
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Quote: MathExtremistSome interesting socioeconomic questions being tossed around lately so here's another:
If you woke up tomorrow morning with $5 million (tax free) sitting in a bank account, what would you do with it? Assume it's legitimately yours, not the result of some criminal activity. (This doesn't preclude you from engaging in criminal activity with the $5M if that's your thing...)
Read the previous posts, thought about it a little, not loo much cause it's such a hypothetical;
Move it to a different bank cause obviously this one made a mistake....
Put 4.5 Mill in 4 index funds (probably Vangaurd) that kind of cover the 'market'.
Head to Vegas w/ 250K LOC, and sit down at a 100 min/ 10,000 max BJ table and play my game. Might lose but the way I play you never, ever, get bored.
A week later, after another 250K wire to my LOC, go home and tell the wife "wow honey, the bank just put an extra 4.5 mil
in my lil spending acct, want to help me set-up the trust fund(s)?"
Youuuuuu MIGHT be a 'rascal' if.......(nevermind ;-)...2F
May 11th, 2015 at 10:53:37 AM
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My previously answered that I wouldn't have to wait until 8pm to buy my sonic milkshakes. That was an attempt at humor, but in all seriousness, I wouldn't make many changes to my life, nor go out and buy much. I certainly am not going to retire and lay on a beach as someone suggested. Yuk...that might work for a week. Maybe a summer if I got back into surfboarding that I gave up 15 years ago.
I am in my early 30's and I AP for a living. I love my job and my life, so not much to change. I wouldn't go up in stakes, because I could do that now. I choose to remain at what I call mid-level because it is well tolerated. You start APing, especially blackjack play at higher stakes and you run out of places to place in short order. Just look at all the MIT guys. I suppose I might cut down on my total play a little bit, knocking off a few of the lower end places (EV-wise) from my rotation.
I would still shop at Walmart, because I love Walmart. I am a value guy and my entire wardrobe consists of shorts and casual wear. Walmart works fine for me. :) I might upgrade my dining rotation, although probably not, because I like the lower end café and coffee shop places that I eat frequently. Places like Jerry's Nugget coffee shop, Emily's at Club Fortune, and Snaps at Eastside Cannery would stay in my rotation. I am a value guy...what can I tell you. And that means that I WOULD probably still wait until 8pm for my sonic milkshakes (@ half price). LOL.
One thing I would be able to do is increase my charitable giving. Not just giving financially to organizations, but certain 'pet projects'. Right now, my big charitable project is that I am one of the sponsors for a local radio station's school supply give-away each summer. I really enjoy that type of thing and would be able to find and participate in more projects like that.
I guess the biggest change would be that my current AP play would be less about building my future and retirement. That would be a relief. I guess I would like to travel the country a little bit as well. I hate travel, especially air travel, but I haven't seen much of the US and there are definitely places that I would like to. So maybe some driving trips and/or train travel trips would be nice.
But mostly, just status quo for me. I don't know if that is good (happy with my current life) or bad (no ambition or goals). :/
I am in my early 30's and I AP for a living. I love my job and my life, so not much to change. I wouldn't go up in stakes, because I could do that now. I choose to remain at what I call mid-level because it is well tolerated. You start APing, especially blackjack play at higher stakes and you run out of places to place in short order. Just look at all the MIT guys. I suppose I might cut down on my total play a little bit, knocking off a few of the lower end places (EV-wise) from my rotation.
I would still shop at Walmart, because I love Walmart. I am a value guy and my entire wardrobe consists of shorts and casual wear. Walmart works fine for me. :) I might upgrade my dining rotation, although probably not, because I like the lower end café and coffee shop places that I eat frequently. Places like Jerry's Nugget coffee shop, Emily's at Club Fortune, and Snaps at Eastside Cannery would stay in my rotation. I am a value guy...what can I tell you. And that means that I WOULD probably still wait until 8pm for my sonic milkshakes (@ half price). LOL.
One thing I would be able to do is increase my charitable giving. Not just giving financially to organizations, but certain 'pet projects'. Right now, my big charitable project is that I am one of the sponsors for a local radio station's school supply give-away each summer. I really enjoy that type of thing and would be able to find and participate in more projects like that.
I guess the biggest change would be that my current AP play would be less about building my future and retirement. That would be a relief. I guess I would like to travel the country a little bit as well. I hate travel, especially air travel, but I haven't seen much of the US and there are definitely places that I would like to. So maybe some driving trips and/or train travel trips would be nice.
But mostly, just status quo for me. I don't know if that is good (happy with my current life) or bad (no ambition or goals). :/
May 11th, 2015 at 11:29:13 AM
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Only fair that I share since it was my question:
a) Hire a financial advisor, hand him $3M and say "I want $100k after-tax income every year, the rest goes to growth."
b) Figure out whether to renovate my current home or just move and build a new one. Don't pay it off, just invest the right amount to do interest arbitrage with the rate deductions. Debt is good for credit scores and right now the rates are too low not to use someone else's money.
c) Two new cars.
d) Three or four new instruments and various accessories, plus a soundproof studio in the backyard or garage.
e) Local-area angel investing, focusing for now on the local tech sector and craft distillery boom. Bonus if it's a combination. :)
f) Put aside enough for the college educations and other big-ticket items I know are coming.
g) Set up a home lab for 3D printing and start a few projects I've been putting off. I have some untested product concepts I want to pursue.
h) Travel more. A lot more.
i) Maybe go back to school. There are about three or four different courses of study I'd like to pursue if I had the time.
j) I wouldn't retire, actually, I like what I'm doing too much. I just wouldn't have to worry about the "between gigs" dry spells that are inherent with specialized consulting. (This is why I'd only take out 100k/year in investment gains, I'd still have regular income).
k) Vacation home in the woods on a lake. Preferably a log cabin on acreage nowhere near any city lights.
l) There's a school building I know of that needs renovation. I'd do some fundraising (and chip in) toward making that happen.
I'm sure I'm missing something but I think that covers most of it.
a) Hire a financial advisor, hand him $3M and say "I want $100k after-tax income every year, the rest goes to growth."
b) Figure out whether to renovate my current home or just move and build a new one. Don't pay it off, just invest the right amount to do interest arbitrage with the rate deductions. Debt is good for credit scores and right now the rates are too low not to use someone else's money.
c) Two new cars.
d) Three or four new instruments and various accessories, plus a soundproof studio in the backyard or garage.
e) Local-area angel investing, focusing for now on the local tech sector and craft distillery boom. Bonus if it's a combination. :)
f) Put aside enough for the college educations and other big-ticket items I know are coming.
g) Set up a home lab for 3D printing and start a few projects I've been putting off. I have some untested product concepts I want to pursue.
h) Travel more. A lot more.
i) Maybe go back to school. There are about three or four different courses of study I'd like to pursue if I had the time.
j) I wouldn't retire, actually, I like what I'm doing too much. I just wouldn't have to worry about the "between gigs" dry spells that are inherent with specialized consulting. (This is why I'd only take out 100k/year in investment gains, I'd still have regular income).
k) Vacation home in the woods on a lake. Preferably a log cabin on acreage nowhere near any city lights.
l) There's a school building I know of that needs renovation. I'd do some fundraising (and chip in) toward making that happen.
I'm sure I'm missing something but I think that covers most of it.
"In my own case, when it seemed to me after a long illness that death was close at hand, I found no little solace in playing constantly at dice."
-- Girolamo Cardano, 1563
May 11th, 2015 at 11:52:32 AM
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I'm sure what it could beQuote: MathExtremistI'm sure I'm missing something but I think that covers most of it.
you left out the part of taking your wife and kids to Burger King and to the Movies after that and Dairy Queen after that.
i mean this could happen 2 days in a row!
all right Dad!
I Heart Vi Hart
May 11th, 2015 at 12:06:19 PM
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Quote: kenarmanI can't imagine a more boring life. That is a vacation not a life. If you don't have a reason to get up every morning soon you won't be able to.
To each their own. My mother and father retired at 48 and moved to Florida with all the other old people. They are now about 80 and still going strong. Sadly, I am already 49 and retirement is still years away.
At my age, a "Life In Prison" sentence is not much of a deterrent.
May 11th, 2015 at 12:22:59 PM
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I would try to find the other $5 millions. If there is this $5 million, there must be other $5 millions.
winning streaks come and go, losing streak never ends.
May 11th, 2015 at 12:23:58 PM
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Quote: mustangsallyI'm sure what it could be
you left out the part of taking your wife and kids to Burger King and to the Movies after that and Dairy Queen after that.
i mean this could happen 2 days in a row!
all right Dad!
Nah, I fired up the grill last night and made better burgers than Burger King will ever serve. Local, range-fed 80/20.
"In my own case, when it seemed to me after a long illness that death was close at hand, I found no little solace in playing constantly at dice."
-- Girolamo Cardano, 1563
May 11th, 2015 at 1:00:09 PM
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A million and a half on whiskey and whores and the rest, I'd just sort of blow it.
"Truth is ever to be found in the simplicity, and not in the multiplicity and confusion of things."
-- Isaac Newton
May 11th, 2015 at 1:47:45 PM
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ME wins the thread.Quote: MathExtremistOnly fair that I share since it was my question:
a) Hire a financial advisor, hand him $3M and say "I want $100k after-tax income every year, the rest goes to growth."
b) Figure out whether to renovate my current home or just move and build a new one. Don't pay it off, just invest the right amount to do interest arbitrage with the rate deductions. Debt is good for credit scores and right now the rates are too low not to use someone else's money.
c) Two new cars.
d) Three or four new instruments and various accessories, plus a soundproof studio in the backyard or garage.
e) Local-area angel investing, focusing for now on the local tech sector and craft distillery boom. Bonus if it's a combination. :)
f) Put aside enough for the college educations and other big-ticket items I know are coming.
g) Set up a home lab for 3D printing and start a few projects I've been putting off. I have some untested product concepts I want to pursue.
h) Travel more. A lot more.
i) Maybe go back to school. There are about three or four different courses of study I'd like to pursue if I had the time.
j) I wouldn't retire, actually, I like what I'm doing too much. I just wouldn't have to worry about the "between gigs" dry spells that are inherent with specialized consulting. (This is why I'd only take out 100k/year in investment gains, I'd still have regular income).
k) Vacation home in the woods on a lake. Preferably a log cabin on acreage nowhere near any city lights.
l) There's a school building I know of that needs renovation. I'd do some fundraising (and chip in) toward making that happen.
I'm sure I'm missing something but I think that covers most of it.
As he should, he started it.
"Dice, verily, are armed with goads and driving-hooks, deceiving and tormenting, causing grievous woe." -Rig Veda 10.34.4
May 11th, 2015 at 1:56:05 PM
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Quote: MathExtremistNah, I fired up the grill last night and made better burgers than Burger King will ever serve. Local, range-fed 80/20.
For burgers, 80-20 is about the best. Did you grill some 'sweet onions" or just offer slices of 'sweet onions' on the side? Inquiring minds, and all that 'stuff'?
Youuuuuu MIGHT be a 'rascal' if.......(nevermind ;-)...2F
May 11th, 2015 at 1:56:39 PM
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[redacted]
"Dice, verily, are armed with goads and driving-hooks, deceiving and tormenting, causing grievous woe." -Rig Veda 10.34.4
May 11th, 2015 at 2:05:33 PM
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[q=
Edited by The Feathered One
Edited by The Feathered One
Youuuuuu MIGHT be a 'rascal' if.......(nevermind ;-)...2F
May 11th, 2015 at 2:30:20 PM
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[redacted]
"Dice, verily, are armed with goads and driving-hooks, deceiving and tormenting, causing grievous woe." -Rig Veda 10.34.4
May 11th, 2015 at 2:30:20 PM
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[duplicate]
"Dice, verily, are armed with goads and driving-hooks, deceiving and tormenting, causing grievous woe." -Rig Veda 10.34.4
May 11th, 2015 at 2:43:18 PM
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Quote: MathExtremistOnly fair that I share since it was my question:
a) Hire a financial advisor, hand him $3M and say "I want $100k after-tax income every year, the rest goes to growth."
I'm sure I'm missing something but I think that covers most of it.
Well that idea scares me.... you see the first investment guy I had ended up being arrested for taking $300,000++ from clients accounts his family lives 5 houses down the street from my mom....my co-workers mother in law was the one that noticed her money missing ($15,000 I believe it was) when her daughter read her mail(investment statement to her) oh she is blind so without the daughter asking why she took $15000 out of her investments he might have gone unnoticed a lot longer
The company I was with gave me another guy who I knew because my oldest brother played travel baseball with him growing up...he got arrested for book making
And just recently this was in the papers around here....this guy grew up nearby and married his high school sweetheart who lived well 7 houses down the street from me
http://www.cbc.ca/news/canada/hamilton/news/former-ticat-mark-allen-dennis-guilty-in-5m-investment-scheme-1.2946574
pictures of his wife ( note to all she has 6 kids)
http://www.simplyshredded.com/fitness-model-francisca-dennis-talks-with-simplyshredded-com.html
May 11th, 2015 at 3:23:49 PM
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Quote: kewljsurfboarding
Lol. It's surfing, not surfboarding.
Kinda like how it's just a football....not a football ball.
May 11th, 2015 at 3:30:37 PM
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Quote: Gabes22I don't consider $5M enough money to retire on and live comfortably at the age of 36. in 30 years, I anticipate houses that run for 300K now to be going for 2M, and gas being at $10 per gallon
Prices go up. True 'nuff. But I think I could make it work with 5 Mil. Oh yeah.....
Well you can't be an idiot with your (theoretical fantasy) money like the sports stars are with their real money, but that 5 mil should be plenty.
There's emptiness behind their eyes
There's dust in all their hearts
They just want to steal us all and take us all apart
May 11th, 2015 at 5:50:19 PM
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Easy game.
$200k would get me my cabin, shop, and that 200 acres of swamp land I have my eye on. Call the boys and within the month we'd have the swamp trailed and the motocross track built. Open it as an ATV park for like minded individuals, and enjoy the extra bit of scratch that provides. Lease out the swamp to my outfitter buddy for even more income in the Fall.
Take $400k and save the local dirt track. That will be "primary job #1". Take another $400k and build a hatchery. Primary job #2.
$4mm left? I dunno. Build stuff. Give most of it to an advisor so I get a "paycheck", but mostly just build stuff. I'd fancy making a street legal asphalt modified, for the express purpose of trolling the constabulary.
I also promised petroglyph we'd do the Baja, so would have to build one of those, too. Petro, do you fancy muscle cars? I can't promise we'd be first in our class, but we could be the first to complete the 1,000 in an Olds 442 =)
$200k would get me my cabin, shop, and that 200 acres of swamp land I have my eye on. Call the boys and within the month we'd have the swamp trailed and the motocross track built. Open it as an ATV park for like minded individuals, and enjoy the extra bit of scratch that provides. Lease out the swamp to my outfitter buddy for even more income in the Fall.
Take $400k and save the local dirt track. That will be "primary job #1". Take another $400k and build a hatchery. Primary job #2.
$4mm left? I dunno. Build stuff. Give most of it to an advisor so I get a "paycheck", but mostly just build stuff. I'd fancy making a street legal asphalt modified, for the express purpose of trolling the constabulary.
I also promised petroglyph we'd do the Baja, so would have to build one of those, too. Petro, do you fancy muscle cars? I can't promise we'd be first in our class, but we could be the first to complete the 1,000 in an Olds 442 =)
The opinions of this moderator are for entertainment purposes only.
May 11th, 2015 at 6:32:28 PM
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I'd give half to Barrack and his employees and the other half to Michelle for school lunches.
