2007-03-09 18:12:56 · 14 answers · asked by sweetooth 2 in Business & Finance ➔ Personal Finance
1) I would invest it
2) Pay off my debts
3) Reinvest all capital gains and dividends.
At a 10% rate of return, I can have $19.8 million in 30 years.
If I put the money in my online savings account that earns 5%/year, I would earn $50,000 in interest in the first year! Divide that by 12, I can earn around $4100/month and never need to go to work again!
2007-03-09 18:17:50 · answer #1 · answered by Anonymous · 5⤊ 0⤋
Well, let's see.
A million dollars would net me about $580k after taxes.
That would pay off our main business debt and credit cards, and leave just enough to pay off our house.
Of course we would still owe our commercial mortgage of about $500k, so I would still have to go to work tomorrow.
Being a grown up American business owner is tough.
2007-03-09 21:20:56 · answer #2 · answered by Gem 7 · 0⤊ 0⤋
set up a trust fund 2 kids my 3 step sons buy a house buy my loving wife a motorcycle finish restoring my moto guzzi give some childhood dezeses get on waiting list and start homes for the disabled injoy life family trip to disney land 50 of us
2007-03-09 19:09:52 · answer #3 · answered by BONEs 2 · 0⤊ 0⤋
Pay off the loans and invest the balance.
2007-03-09 21:09:10 · answer #4 · answered by SGElite 7 · 0⤊ 0⤋
I'd invest most of it, and give some to charity, and of course, i'd treat myself to a nice vacation or something like that.
2007-03-09 18:21:37 · answer #5 · answered by armyparalegal 3 · 0⤊ 0⤋
1st - I would buy a duplex or triplex, live in 1 rent the rest.
2nd - Use the remainder to buy a fast food franchise.
2007-03-09 19:28:27 · answer #6 · answered by drzdenizen 1 · 0⤊ 0⤋
Put it in the bank and live off interest
2007-03-09 18:21:31 · answer #7 · answered by Anonymous · 0⤊ 0⤋
payoff debts....help some relatives pay off their debts..take a nice vacations and bank the rest for the kids college......
I know...not very creative...but that is how I would use it........
2007-03-09 18:33:23 · answer #8 · answered by LeftField360 5 · 0⤊ 0⤋
buy a house..give bit of money to the church..give bit money to my mum and mother-in-law..save the rest..and most of it wont be touched because it will be left for when my son gets older.
2007-03-09 21:41:45 · answer #9 · answered by Anonymous · 0⤊ 0⤋
Send my grandkids to college.
2007-03-09 18:20:40 · answer #10 · answered by jim_elkins 5 · 0⤊ 0⤋