2007-03-04 18:50:40 · 23 answers · asked by comacati 3 in Entertainment & Music ➔ Polls & Surveys
More like what wouldn't you do with a million dollars.
I would pay off my debts, get my car fixed up, buy a house, and furnish it, buy a new computer, then invest the rest.
What would you do with 1 million dollars?
2007-03-04 18:56:49 · answer #1 · answered by Spikey and Scruffy's Mummy 5 · 0⤊ 0⤋
I would not spend them, I would put them to work for me so I don't have to work for the rest of my life. I would still work but I wouldn't have to.
First thing I would do is to buy a nice house cash (no more then $270K)
Then I would pay off all my debts including my car loan (about 30K)
I would them put the rest to work in different investments. I would buy two rental properties of about $150K each Put $200K on an index top 500 mutual fund. another $100K on a Real Estate Investment Trust and the other $100K I would invest on more agresive investments such as hard money loans.
That would generate enough monthtly interest paymements to me to do whatever I want, whenever I want for the rest of my life, plus I would leave my wife and kids rich when I die.
I would receive per month... lets see:
Two rental houses @ $900/ea =$1,800/mo
The mutal funds at 6% apr (conservative) =$1000/mo
The REIT at 11% (conservative)= $900/mo
Hardmoney fund 15% (conservative= $1,250/mo
About $5,000 a month just on interest payments plus I still have most of my million dollars, well with my house and car payed I would then take those $5,000 save them for a couple months and
take my wife to Europe, come back save a few other months and buy a sports car cash, save a couple other moths and go on a cruise, and so forth for the rest of my life, I would never pull my money out to spend it, that would be stupid. That is what I would do.
2007-03-05 03:32:38 · answer #2 · answered by superiordaddy 1 · 0⤊ 1⤋
I honestly don't know yet...but somewhere down the road, there's gonna be a beachfront house, a nice SUV, tons of charitable contributions, etc., etc. --- what I won't buy are diamonds and all those expensive real jewelries and furs and those exclusive designer clothes.
Oh yeah, I'd do a lot of travelling too!
Invest for the future? I'm already 58......The only future I see is the very near future (next 15 years or so).
2007-03-05 03:05:07 · answer #3 · answered by Inday 7 · 0⤊ 0⤋
take it to the bank as security and borrow 3 million dollars to invest
2007-03-05 03:21:04 · answer #4 · answered by Anonymous · 0⤊ 0⤋
whew! im gonna buy lots and tons of properties to a 3rd world country particularly in the Philippines (tropical country)and invest it to huge companies to triple/quadruple my money. as well as heir it to my parents and siblings. some of it ill provide it to charities and churches. since a million is a lot and i think its about time for me to share it for those people who are in need. God gave you such a wonderful blessings so, better share it to poor people.
2007-03-05 03:06:31 · answer #5 · answered by leoNpari 3 · 0⤊ 0⤋
Where should i start. I'd donate half of it, pass some out to my closest friends and family,save some, and go crazy with the rest.Id get house, car, cds(music freak!), clothes, and all the things ive ever wanted.
2007-03-05 02:56:52 · answer #6 · answered by Nickname 2 · 1⤊ 0⤋
Pay off all my bills and student loans and then put money away for my kids and probably just sit on the rest in the bank for as long as I could so I wont spend it all too fast.
2007-03-05 02:54:52 · answer #7 · answered by Mz Bree 5 · 1⤊ 0⤋
If this were a sudden windfall, I'd invest some, give some to the charities that helped me most with my personal life and career.
2007-03-05 03:06:28 · answer #8 · answered by idahdespida 3 · 0⤊ 0⤋
Travel around the world
2007-03-05 03:06:57 · answer #9 · answered by Anonymous · 0⤊ 0⤋
I'll take half of it to go shopping, 25% goes to my parents and the rest will be donated to the poors.
2007-03-05 02:54:37 · answer #10 · answered by procrastinator 4 · 0⤊ 0⤋