What would you do with a million dollars?

Question

How much would you spend right away? How much would you save? What would you spend it on??? Also, if you didnt touch ANY of the money, every year that you saved the million dollars, you would make another half a million. So for example if you saved the million for 2 years, you would have 2 million in the bank. But this would only happen if you didnt touch it. If you didnt touch it, you would still have to work for a living. Would this be hard for you knowing that you were rich and had money readily available to you? Once u touched the money, you couldnt get the "year of savings" deal any longer... give me your thoughts :)

i guess i respect the people who say they would spend it themselves more than people who would give it to charity. its really nice to give to charity, but i believe that unless you were already rich in the first place, almost everyone would at least buy something nice for themselves. I guess no one really knows unless they were actually put in the situation.

Answer 1

If I had a million dollars I'd pay off my credit card debts, put a nice down payment on a house, save some for my kid's college, buy a new car, and travel. I would also try to invest some.

Answer 2

i will work for another 13 years unless something happen that i need the money sooner, then retire. that should give me 7.5 million. after i take the money out, i will give it to an investment company to help me plan out a retirement plan. a safe plan will give me about 7 percent per year, that is going to be about 525,000 per year. so after that, i will be getting more then half a million a year if i don't over spend the interest. then i will do whatever i desire at that time

Answer 3

I won't toubh it for 2 years to make another million then I will invest 1 million in property, in this way I will have revenue from rental. From another million I will put in the bank 50% for saving and invest another 50% in stocks. I prefer to let the money work for me.

Answer 4

I have a million dollars, and it doesn't make me feel particularly rich. I invest it carefully and aim for it to increase by around 10-15% each year. I don't see how you could make half a million each year on a one million dollar investment without taking on a ridiculous amount of risk. If you want to learn about how to make and invest a million dollars you can drop by and read my blog EnoughWealth.com

Answer 5

I would spend my current net worth and let that money ride probably the rest of my life so never use it but knowing if I needed it I could have it. I would soon have more money than Bill Gates and could leave it all to charity.

Answer 6

i would put $750,000 in the bank right away and not touch it. $250,000, would last me the first year, so i could gain some interest. after that, i would just live off the interest. i would get my hair and nails done; buy a house on the beach (i love colorado/wyoming, but the winters are brutal); my fiance and i would upgrade our wedding to a beach destination; then we'd travel; oh, yeah, buy an AWD since it snows so much here; and then have many babies and spoil them (some adopted). oh yeah, buy air conditioning (can you imagine living somewhere where they don't typically put in air conditioning). i'd buy my boyfriend a big dodge truck, too, since his got totaled.

Answer 7

I would tithe 10%. I'd make some improvements in my home like furnace, roof,put on a deck. The rest I would put in the highest Money Market or CD, IRA's I could fine. I would only spend on real needs.

Answer 8

Pay off all my student loans and smaller debts and buy a nice house on the water.

Answer 9

10% Tithe
40% Set aside for taxes
XX% Pay off the house
XX% For investing
XX% For giving
XX% For spending

XX% is my own personal percentage. Insert your own numbers..

Answer 10

Give it to people that ask stupid questions..so it will shut them up.