2007-06-15 14:57:44 · 14 answers · asked by Anonymous in Business & Finance ➔ Personal Finance
If you ask me that question 5 years ago, I would of definitely spent it on bunch of stuff. I would of buy a BMW, Alienware PC, 58" HD-TV, new shoes, new sneakers, some suits, add extensions to my home, pay off my debt, then go on a nice long vacation and what's ever left over, put into my bank account, that was earning only 0.85% APY.
But today, this is what I would really do:
1) Put it all in my online savings account, that is currently earning 5.05% APY. Then figure out my next move.
2) Then I would pay off my student loan, which is only $10k.
3) Invest $800k into mutual funds. If I leave it in there for the next 20 years and my portfolio gets an average rate of return of 12%, I would have $8.7 million. In 30 years, $28.7 million. In 40 years, $94.9 million.
4) Then go on a spending spree. My first purchase would be a sporty gas-efficient car, as long as it doesn't cost above $75k.
5) Second purchase, Alienware PC that cost almost $10k.
6) Third purchase, 3 new suits (I already have couple right now). Cost about $800 each. So that would be like $2500.
7) Forth purchase, renovate my home. Estimated to be around $50k.
8) Install sprinkler system on my lawn.
9) Go on a nice relaxing vacation to the Caribbean.
10) What's ever left over, I'll just donate it to my college education fund for the disadvantage families (families that can't afford college, but with this fund, they can).
2007-06-15 20:05:06 · answer #1 · answered by Anonymous · 5⤊ 0⤋
Easy... Invest...
http://www.mm-review.com/money/2.html
2007-06-15 16:18:06 · answer #2 · answered by Anonymous · 0⤊ 0⤋
First I would give my neighbor the $2000.00 he just got billed for emergency surgery for his beloved german shepherd. Then I would landscape my backyard, and my daughter's. I would get a new car and one for my son.
I would also do some special things for the people I work with because we are public servants who are pretty much treated like cr*p by the public we serve.
I would also like to do a special program I want funding for, for teens that are in trouble that will help to build their self esteem, while aslo generating money for them and for their future.
2007-06-15 15:02:57 · answer #3 · answered by Carol B 4 · 0⤊ 0⤋
I would open a foundation for bullied children across the country teaching the effects of bullying and how to prevent it. I would help others in need. Then I would make sure my daughter would be set for life and pay off bills.
2007-06-16 11:30:54 · answer #4 · answered by hdjass 1 · 0⤊ 0⤋
Buy a new car and invest the rest. After a few months it'll be worth even more and than I'd buy a house.
2007-06-15 17:47:31 · answer #5 · answered by Anonymous · 0⤊ 0⤋
I would give $245,000 to my ex wife so that I would never ever ever ever have to talk to her or see her again.
Then I'd take the rest of the money and give it to the cops in exchange for additional protection from that miserable, horrible woman!!!!
2007-06-15 15:01:07 · answer #6 · answered by Anonymous · 2⤊ 0⤋
Pay off my house, then invest or save the rest and live off of the interest.
2007-06-15 15:01:06 · answer #7 · answered by All Natural Honey 6 · 0⤊ 0⤋
I would go shopping, buy my family a car, and donate some to the needy.
2007-06-15 15:01:00 · answer #8 · answered by June 2 · 0⤊ 0⤋
Get debt free, and take care of any debt my parents have. I would use it very wisely!! We live in times that are hard to make ends meet so having less stress about work, would always be welcome!!
2007-06-15 15:11:23 · answer #9 · answered by Eternalsilence 3 · 0⤊ 0⤋
Go on a spending spree and see how fast I could get rid of it.
2007-06-15 14:59:40 · answer #10 · answered by conundrum_dragon 7 · 0⤊ 0⤋