I would..in this order: quit my job, pay off all my bills, build an awesome house for my mom and dad.., pay off all their bills, give lots of money for a children's hospital..and animal hospital..take a vacation...and save it!!
2007-08-28 08:46:55 · 7 answers · asked by Anonymous in Business & Finance ➔ Personal Finance
I would establish a very conservatively managed reserve fund for myself that would generate enough money for me to live comfortably (not extravagently) for the rest of my life. I figure this would take approximately $20M (at 5% interest this would generate $1M per year. After taxes this would be in the neighborhood of $500k per year -- I would be able to afford many luxuries, help my family and friends financially and travel extensively with that kind of annual income. It would take inflation quite a bit of time to erode the buying power of this money and it would leave the principal intact for years). My travel would include following Rush when they were touring (like now!).
I would take another $20M and invest it similarly so that I could give the annual proceeds to various charities that I deemed worthy at any given time, probably focusing on the United Way and No-kill animal shelters.
I would take ~$2M and purchase two homes. One in the heart of a downtown city (like Toronto or NYC). The second would be within a 2-hour drive of the first and be in a serene natural setting. The taxes would have to be low enough to fit in my annual $500k from above :-)
The final $58M poses more of a challenge. I believe that I would invest it much more aggressively. Learn about hedge funds, derivatives, options, etc. I would use re-invest and try to grow that money. When it becomes considerably larger than the $60M, I would reduce it to ~$60M (adjusted for inflation) periodically and put the rest in the charity driven safe investment account so it could do the most good for the most people. If these investments all failed and I lost it all, I would always have the 2 accounts set up previously and enjoy the heck out of it.
So it sounds like I would do the same things you would do!
2007-08-28 19:07:57 · answer #1 · answered by Rush is a band 7 · 1⤊ 0⤋
This is a great question, if i had a 100 million i would invest half, to ensure i never had to work again. I would take the other half and make sure all my family members were well taken care of. I would then start up a few businesses. I would donate to charities such as breast cancer research, and aid for the troops that have been injured in the recent conflicts. I would then buy a huge apartment in Paris, one in London, a home in several u.s. cities. I would spend most of my days trying to buy things that aren't for sale, if you have so much money why buy things that are easy to get hahaha.
2007-08-29 02:57:52 · answer #2 · answered by stinky_pitts_101 4 · 0⤊ 0⤋
I would pay off my debts, $152,000 total and give the rest $99,848,000 to a children's hopital, or to a medical study to come up with a cure for a disease.
2007-08-28 15:56:52 · answer #3 · answered by quirky 5 · 0⤊ 0⤋
Give 10% to my church, invest most of the rest, quit my job and devote myself full-time to my family. Taking trips, volunteering at church.
2007-08-28 15:55:06 · answer #4 · answered by samans442 4 · 0⤊ 0⤋
pay bills, give to charity, give to family and then do whatever I want...because I can afford it.
2007-08-28 15:55:13 · answer #5 · answered by nashvillekat 6 · 0⤊ 0⤋
Wow, you pretty much summed up what I would do. Well, as an adult. I'm 14.
2007-08-28 15:54:37 · answer #6 · answered by DeltaKilo3 4 · 0⤊ 0⤋
I would never quit smiling it would make me so happy.
2007-08-28 15:54:40 · answer #7 · answered by Anonymous · 0⤊ 0⤋