Would you quit your job? Also what suggestions do you have for investments to make my money grow faster and without risks.
Also do you think I should retire? I'm only 23, can I live with this money for the rest of my life?
10 points to the best answer.
2006-08-01 00:05:51 · 14 answers · asked by Anonymous in Society & Culture ➔ Other - Society & Culture
Great question:
In England they reckon to live a true millionaires life these days you would need to be a thrillionaire ie. I have three million pounds / 5 million (ish) dollars.
Investment without risk, too big a question for Answers, it depends on whether you can live with true long term investment or whether you want to go for the big kill...astute property in England at least can double your money over 10 years...playing the futures market can do that in a week: or you can walk away with nothing but a can of coke to show for it...
The bigger the risk the higher the return...my advise, trust no one not even financial advisers (they are in it for themselves more often then not), take the time and read some books on investment and start small: most importantly don't start dipping into your lumpsum unless you are buying a house; as by the time you are ready to play with it, iut won't be there...
Have fun, but be cautious
2006-08-01 00:16:41 · answer #1 · answered by Anonymous · 4⤊ 0⤋
If I were you I'd invest it and NO do not retire. Take a nice long vacation somewhere and think about what you want to do. I also think you'll need a broker or a lawyer as there are all so many scammers out there and you could very quickly end up flat broke. But I would start by buying a new truck, Harley, car for the old lady, Log cabin in the mountains (old lady wants this) and then do renovations to our present home. Then invest the rest.
2006-08-01 00:12:58 · answer #2 · answered by GRUMPY 7 · 0⤊ 0⤋
You could def. live off that for the rest of your life depending on how you choose to live. You could live a middle class life with average things for the rest of your life no prob. Maybe even better if you were smart with your money. I would spend my life helping others but 2 mil isn't that much when you try to help everyone else. I want to flip houses for a living so I would probably just do that as it is basically investing in real estate. So much money can be made that way and it is rewarding to take a house that is making a neighborhood look like crap and wasting away and making it into something nice and new again.
Just be very smart with it.
2006-08-01 00:11:59 · answer #3 · answered by Amy >'.'< 5 · 0⤊ 0⤋
I'd buy a laptop and go travelling. That way I can still answer! If you invest some, bank some and maybe buy a house or two and have them rented then maybe when your 30 you could retire. Really 2 million isn't a lot of money not when you have to pay bills and eat
2006-08-01 00:12:48 · answer #4 · answered by louiseanahappycat 2 · 0⤊ 0⤋
I suggest that you hire an accountant and a financial adviser but make your own decisions donate to charity instead of paying taxes. If you have a family put their future away where you wont get it and have a back up plan maybe some good schooling instead of work invest and have fun youll only live once do the real important things relax, fish,travel,love and do not let money rule or ruin you or your soul,play,dance,sleep, have a good life.
2006-08-01 00:17:21 · answer #5 · answered by MHR 1 · 0⤊ 0⤋
Like many already said 2 million isn't that much any more! To be able to quit your job you might have to take some LONG term RISKS! Many years ago I did just that and I'm fine now but it was very risky! I bought land in what was an unpopulated part of Florida and some oil leases in Texas very risky at the time and for a while they decreased in value but now...........!! Get GOOD advice try to see the future! Hold your breath put your fingers in your ears and best of luck cause in the end that is what it takes!
2006-08-01 00:35:19 · answer #6 · answered by Star of Florida 7 · 0⤊ 0⤋
No I would not quit my job I would probably start a samll business on teh side right after jumpping around like crazy, buy my parents a house and of course party with family and friends and I would send my ex-girlfriend that she made a msitake when she said I could never afford the htings she wanted in life :) I am happy thinking the latter
2006-08-01 00:21:02 · answer #7 · answered by samydan 3 · 0⤊ 0⤋
You think you can live your all life with 2 million dollars,then you are wrong.When you have that kind of many,your expense also go high and your living stained become high stand etc.so UN less you don't have proper source's of income any amount of money is small till you have some money adding sources,so dear you have to still work.Best is if you get money put in Properties which will always live money for your money.
2006-08-01 00:19:34 · answer #8 · answered by lucky s 7 · 0⤊ 0⤋
I have a great idea! You can invest it in me! lol i wish.
No you could invest like locked term invesments with banks or something. No dont retire. Help people in the community. Use your money in a good way.
2006-08-01 00:10:43 · answer #9 · answered by SquiBBLe 2 · 0⤊ 0⤋
I invested in real estate with just under 400,000 now my total worth is about 2.3 million
I always have money coming in cause people pay me rent.
2006-08-01 00:11:52 · answer #10 · answered by Red Sawx ® 6 · 0⤊ 0⤋