Current Events > Serious question: You are given 10 million dollars. No taxes, no strings.

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Verdekal
01/01/18 8:58:45 PM
#1:


What do you do?

I open up multiple savings accounts all over the world.
I hire someone to invest and put into stock.
I give my parents enough money to retire and live comfortably.
I quit my job permanently and school temporarily.
I buy a nice million dollar house in the suburbs.
I travel the world.

What about you?
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Burgess
01/01/18 8:59:09 PM
#2:


Two chicks.
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apocalyptic_4
01/01/18 8:59:51 PM
#3:


Bet it all on black
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DK9292
01/01/18 9:00:32 PM
#4:


https://www.youtube.com/watch?v=btAbU1sPqIM

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LinksLiege
01/01/18 9:01:21 PM
#5:


If that's enough that I could throw it in a high-interest account and live off the interest, I'd do that.
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siganddaxter
01/01/18 9:20:49 PM
#6:


LinksLiege posted...
If that's enough that I could throw it in a high-interest account and live off the interest, I'd do that.


It's definitely enough.

You can get 5% returns fairly easily. 5% of 1 million is 50k. You'd be pulling half a million in low risk returns.
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wackyteen
01/01/18 9:23:26 PM
#7:


I buy $500K worth of altcoins

I buy $250K worth of Bitcoin

I invest $1.25M in the stock market

I live off the rest. Also I'd probably try to keep my current job just so I don't go crazy
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KillerKhan420
01/01/18 9:24:53 PM
#8:


You're gonna live in a million dollar house when all you got is 10?

Somebodies gonna be like the majority of lotto winners...
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Capn Circus
01/01/18 9:29:33 PM
#9:


5 million would be allotted to living off of investment returns/dividends. I estimate conservatively 250-400k/yr earnings before taxes.

3 million would be blend of multiple long term investment plans.

1 million would not be invested, used mainly as a buffer if the market were to completely collapse. Potentially be invested in extremely low risk portfolio to at least keep up with inflation.

1 million would go straight to me, and would probably be spent within a year or two. Sharing with friends and family, buying myself a nice Porsche, etc.

I'd keep my current residence and probably find a 10k/month living arrangement in New Orleans.
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CelestialVoices
01/01/18 9:30:15 PM
#10:


i would google what to do with all them moneys bc honestly idk
get health insurance and start medication again
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Dash_Harber
01/01/18 9:31:45 PM
#11:


- Couple accounts, hire a broker and an advisor.
- Pay off all my debts.
- Buy a motorbike, buy my mom a house or something.

And that is pretty much it. I'm like the world's most boring guy.
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DifferentialEquation
01/01/18 9:33:13 PM
#12:


-buy a house
-pay off morgtage for mom
-invest/save the rest
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Capn Circus
01/01/18 9:36:36 PM
#13:


Dash_Harber posted...
And that is pretty much it. I'm like the world's most boring guy.


Let's be friends. I'll show you a fun time in Vegas. =)
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a_riot04
01/01/18 9:39:37 PM
#14:


I'd buy a couple of businesses, a car wash and a laundry factory. Also a chicken joint.
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Dash_Harber
01/01/18 9:40:32 PM
#15:


a_riot04 posted...
I'd buy a couple of businesses, a car wash and a laundry factory. Also a chicken joint.


Why, are you trying to do a shot for shot remake of Breaking Bad?
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CanuckCowboy
01/01/18 9:42:31 PM
#16:


5 mill on bit coin and 5 on hookers and blow. By the time I'm done the hookers and blow and sell my bitcoin I'll be a gazillionaire
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SK8T3R215
01/01/18 9:42:41 PM
#17:


Open a pizzeria and laundromat combo business.
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a_riot04
01/01/18 9:47:38 PM
#18:


Dash_Harber posted...
a_riot04 posted...
I'd buy a couple of businesses, a car wash and a laundry factory. Also a chicken joint.


Why, are you trying to do a shot for shot remake of Breaking Bad?

Maybe. But seriously, I'd invest that in some businesses. A nice car, gadgets, house, some for family.
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Rika_Furude
01/01/18 9:48:59 PM
#19:


Just put it in the bank and live off it. Why do i have to invest shit?
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wackyteen
01/01/18 9:52:54 PM
#20:


Rika_Furude posted...
Just put it in the bank and live off it. Why do i have to invest shit?

Cause eventually you run out of money
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Rika_Furude
01/01/18 10:03:20 PM
#21:


wackyteen posted...
Rika_Furude posted...
Just put it in the bank and live off it. Why do i have to invest shit?

Cause eventually you run out of money

Not with 10 million dollars
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wackyteen
01/01/18 10:04:22 PM
#22:


Rika_Furude posted...

Not with 10 million dollars

Definitely with 10 million dollars
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Rika_Furude
01/01/18 10:05:49 PM
#23:


wackyteen posted...
Rika_Furude posted...

Not with 10 million dollars

Definitely with 10 million dollars

What the fuck are you doing with 10 mil that you will spend it all?
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wackyteen
01/01/18 10:07:31 PM
#24:


Rika_Furude posted...

What the f*** are you doing with 10 mil that you will spend it all?

What the fuck aren't you doing with 10 million that you wouldn't eventually spend it all?
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SGT_Conti
01/01/18 10:08:07 PM
#25:


Spend all of it buying lapis in Final Fantasy Brave Exvius
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Rika_Furude
01/01/18 10:08:29 PM
#26:


wackyteen posted...
Rika_Furude posted...

What the f*** are you doing with 10 mil that you will spend it all?

What the fuck aren't you doing with 10 million that you wouldn't eventually spend it all?

Wasting it?
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Master_Bass
01/01/18 10:09:17 PM
#27:


Buy a modest house, invest, and retire.
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littlebro07
01/01/18 10:10:40 PM
#28:


Pay off all my debts, my parents' debts, and my sisters' debts. Plop $7 million into a savings account. Travel the world with my wife and have sex in every country.
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DocileOrangeCup
01/01/18 10:10:45 PM
#29:


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Capn Circus
01/01/18 10:12:37 PM
#30:


wackyteen posted...
Rika_Furude posted...
Just put it in the bank and live off it. Why do i have to invest shit?

Cause eventually you run out of money


Rika could spend $166,000 every year for the next 60 years, and then be broke. If he was 30 right now, he'd probably be dead by then.

Of course, this doesn't adjust for inflation. But technically he wouldn't run out of money if he spent it properly. Not something I would personally do, though.
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nickels
01/01/18 10:12:39 PM
#31:


Spend $1.5 on a home, new vehicles, clothes, etc.

Park $8,500,000 in a moderate interest bank account.

Live on that.
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Sami1000
01/01/18 10:15:55 PM
#32:


I hire someone to invest and put into stock.
I give my parents enough money to retire and live comfortably.

These two, and i'm already on disability pension so i just continue my life as usual.
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NES4EVER
01/01/18 10:16:51 PM
#33:


Rika_Furude posted...
Just put it in the bank and live off it. Why do i have to invest shit?


But why not put it in a safe investment and live off the interest? That way you will always have your initial 10 mil. Heck at a safe 3% that's 300 grand a year.
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Rika_Furude
01/01/18 10:17:14 PM
#34:


NES4EVER posted...
Rika_Furude posted...
Just put it in the bank and live off it. Why do i have to invest shit?


But why not put it in a safe investment and live off the interest? That way you will always have your initial 10 mil. Heck at a safe 3% that's 300 grand a year.

You get interest with it in the bank
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NES4EVER
01/01/18 10:21:59 PM
#35:


Rika_Furude posted...
NES4EVER posted...
Rika_Furude posted...
Just put it in the bank and live off it. Why do i have to invest shit?


But why not put it in a safe investment and live off the interest? That way you will always have your initial 10 mil. Heck at a safe 3% that's 300 grand a year.

You get interest with it in the bank


Out of curiosity what is your bank offering for a savings account interest rate? Its probably been a good decade since I've seen anything even close to 2% unless it's a promotion of some sort. At that point your wealth is effectively being eaten away by inflation.
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Iodine
01/01/18 10:26:41 PM
#36:


- Put $500k into my bank account
- Give my mom $4.5 Million
- Put the rest into a high interest account.
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masticatingman
01/01/18 10:28:39 PM
#37:


You definitely dont buy an expensive house, unless youre fully planning to keep working.
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Rika_Furude
01/01/18 10:28:52 PM
#38:


NES4EVER posted...
Rika_Furude posted...
NES4EVER posted...
Rika_Furude posted...
Just put it in the bank and live off it. Why do i have to invest shit?


But why not put it in a safe investment and live off the interest? That way you will always have your initial 10 mil. Heck at a safe 3% that's 300 grand a year.

You get interest with it in the bank


Out of curiosity what is your bank offering for a savings account interest rate? Its probably been a good decade since I've seen anything even close to 2% unless it's a promotion of some sort. At that point your wealth is effectively being eaten away by inflation.

Maybe its different in america then, im in australia
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nickels
01/01/18 10:29:06 PM
#39:


NES4EVER posted...
Rika_Furude posted...
NES4EVER posted...
Rika_Furude posted...
Just put it in the bank and live off it. Why do i have to invest shit?


But why not put it in a safe investment and live off the interest? That way you will always have your initial 10 mil. Heck at a safe 3% that's 300 grand a year.

You get interest with it in the bank


Out of curiosity what is your bank offering for a savings account interest rate? Its probably been a good decade since I've seen anything even close to 2% unless it's a promotion of some sort. At that point your wealth is effectively being eaten away by inflation.


Except, given my scenario, where I put $8.5m into a 2% account...

I'm not losing out to inflation while making $170,000 a year, I'm sorry. Not for a good long while.
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Calwings
01/01/18 10:33:03 PM
#40:


- Put 5 million in an investment account
- Give 1 million to my dad and 1 million to my older brother, and half a million to distribute among some extended family members that I like (which isn't very many)
- Donate half a million to a charity for cancer research.
- Use the rest to live off of in the meantime, including paying off all my student loans and buying my own place once I get my degree.
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Verdekal
01/01/18 10:36:24 PM
#41:


masticatingman posted...
You definitely dont buy an expensive house, unless youre fully planning to keep working.

I'd still have 9 million left over.
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Mistere Man
01/01/18 10:37:43 PM
#42:


Pay off bills
Nothing left (just kidding)
Maybe buy two cheapish houses to rent out or sell later. (For monthly income)
Interest account the rest.
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Mistere Man
01/01/18 10:38:33 PM
#43:


Verdekal posted...
masticatingman posted...
You definitely dont buy an expensive house, unless youre fully planning to keep working.

I'd still have 9 million left over.

Expensive houses have high taxes on them each year.
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masticatingman
01/01/18 10:40:15 PM
#44:


Verdekal posted...
masticatingman posted...
You definitely dont buy an expensive house, unless youre fully planning to keep working.

I'd still have 9 million left over.


Property taxes, constant upkeep and hassle of a larger/nicer house, and that extra few hundred thousand you could save might be a bit of a difference maker down the line. I stand by my opinion. Besides, in my area you can get a really nice 2 story house for a couple hundred grand.
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Verdekal
01/01/18 10:42:34 PM
#45:


masticatingman posted...
Verdekal posted...
masticatingman posted...
You definitely dont buy an expensive house, unless youre fully planning to keep working.

I'd still have 9 million left over.


Property taxes, constant upkeep and hassle of a larger/nicer house, and that extra few hundred thousand you could save might be a bit of a difference maker down the line. I stand by my opinion. Besides, in my area you can get a really nice 2 story house for a couple hundred grand.

Okay.
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Ricemills
01/01/18 10:47:40 PM
#46:


invest all on bitcoin and died from sleep deprivation a week later.
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BewmHedshot
01/01/18 10:48:14 PM
#47:


Invest 9 million and then buy a nice house and a Ferrari. Keep my job, it's fun and gives me plenty of time off.
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Tropicalwood
01/01/18 10:49:44 PM
#48:


BewmHedshot posted...
Invest 9 million and then buy a nice house and a Ferrari.

How do you plan to buy a nice house and a Ferrari.
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_Kowalski_
01/01/18 10:51:26 PM
#49:


I invest in drone racing by possibly starting a team. Huge potential for growth, I see mass market appeal, possibly biggest new future sport.

For real man
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Burgess
01/01/18 10:51:42 PM
#50:


Tropicalwood posted...
BewmHedshot posted...
Invest 9 million and then buy a nice house and a Ferrari.

How do you plan to buy a nice house and a Ferrari.


With the million dollars he wants to spend. Duuuuuuh.
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