I want details, Please no fast answers, like buy a house, or save the whales... As for me, first I would give some away to my family, then buy some clothes, I haven't been shopping in awhile, pay off those stupid parking tickets, then make sure I had a nice place to live. I would buy a new car, nothing too fancy but one with the body and under the hood in tact. I would like to think that I wouldn't get greedy, but you never know, how about you?
2006-07-31 21:58:42 · 15 answers · asked by Anonymous in Arts & Humanities ➔ Philosophy
think hard, is that what you would really do?
2006-07-31 22:17:14 · update #1
First, I'd change it into pounds sterling (I live in London), which would leave me with about £600,000. I'd probably spend about £200,000 on a modest place to live (London is very expensive) and pay off any credit cards and old phone bills that I owed.
£400,000 isn't enough to retire on, so I'd put about £150,000 in a high interest savings account. The interest would be at least £10,000 per year, so I'd leave that there and come back to it after 20 years or so.
With the remaining £250,000 I'd finally get my driving license (25 years old, still don't have one) and buy a relible car with lot's of luggage space. Then I'd find someone to go travelling with and travel round the world for 6 months to a year. That would probably leave me with about £200,000 left. I'd spend about half of that on setting up a music promotions company/live venue and keep the remaining £100,000 to live off when times were hard and for whatever else I wanted to spend money on.
I'd basically try to be reasonably prudent with most of it and set things up so that I'd be financially secure (not necessarilly massively rich) for the rest of my life by expending only minimal effort.
2006-07-31 22:09:36 · answer #1 · answered by Entwined 5 · 2⤊ 0⤋
I have answered this once before but obviously you have an agenda.
Let's do it your way.
Take your million dollars and find out if you owe taxes on it. If you won it then it is income and winnings can be taxed as much as 50% in the US. If you won it abroad then you have to pay taxes in that country and then in your country of origin assuming you don't come from Saudia Arabia, no taxes.
At any rate that leaves you with only 500,000 to do with as you please.
I say put 200,000 into a house, insurance, and taxes on that house.
Then put 50,000 inot a relaible car, insurance, and taxes on that car.
Then take the remaining 250,000 and put it into a franchise or a gas station. That will barely get you started and will generate you future income to pay off the future taxes on the house the car and the business. It will also give you a chance to change expenses into tax deductions and allow you to hire relatives and turn support into more tax deductions.
I can't go into any more specifics because that would be giving you my opportunities and that would be unwise.
At any rate, this is enough of a plan to get you a really big ax rebate, a large tax shelter, a steady stream of income, and some financial security.
Good Luck.
2006-07-31 23:48:25 · answer #2 · answered by LORD Z 7 · 0⤊ 0⤋
ok just a million? i already have a house so i would fix it up a bit i have 2 cars so i would need to get a truck and just pay off the loans on everything else get some new clothes put away a bunch for my daughters tuition and open up a small business
2006-07-31 22:53:09 · answer #3 · answered by twistedlifesmysteries 2 · 0⤊ 0⤋
I'd first get a lawyer. Then an accountant. Then divide it up several ways. Money to give away to friends and family, money to save, money for college, money to pisss away, money to give to charity or other causes, money to invest.
the piss away money would go for my own townhouse, clothes, clothes more clothes, jewelry, a car and loads of other gooodies.
2006-07-31 22:05:46 · answer #4 · answered by ms_upsidedown 4 · 0⤊ 0⤋
1. I would payoff my house for my family's current security.
2. Secure a good college fund for my kids
3. The remaining cash?...I would divide it among my parents and siblings and myself....half of my part goes to charity.
2006-07-31 22:05:31 · answer #5 · answered by alandicho 5 · 0⤊ 0⤋
1. Stop seeing dreams
2. Buy a book store
3. Buy a farmhouse, a wooden house in it & a car
4. Invite u.
2006-08-01 00:39:18 · answer #6 · answered by Kelrec 4 · 0⤊ 0⤋
25% money I will give to my family members, 25% money I will spend to make a Hospital for poor people and School for Poor Children. 25% money to charity and rest 25% money to Poor people of Africa who can't even get food of one time and facing too much trouble. And for me, I will be fine on my own hard-earned money for rest of my life.
2006-07-31 22:11:41 · answer #7 · answered by Moses 2 · 0⤊ 0⤋
i would get 5 tickets to one of the most beautiful islands for my whole family..in the best hotel ever...stay there for few months...
2006-07-31 22:32:39 · answer #8 · answered by zoha 3 · 0⤊ 0⤋
I would create my own army of homeless people and take over the world.
2006-07-31 22:03:01 · answer #9 · answered by Anonymous · 0⤊ 0⤋
i will give lebanon half of them
there are alot of people killed there
and the other half i will buy a good house in a good place
2006-07-31 22:33:48 · answer #10 · answered by madazizo 2 · 0⤊ 0⤋