You've just won a million bucks. What is the first thing you do?
- Thread starter Genesis
- Start date
Briar Spirit
Banned
Buy my own cottage in the middle of nowhere so I can get out of this horrid house, after that just sit back and enjoy some choice tobacco in a favoured pipe, heaven. :friends:
asexual synergy
New member
I'd invest it in buying a coffee franchise (Dutch Bro's), I'd buy some land and build an RV Park or a little "Tiny Houses" community and start a non-profit charity organization for a cause that's near and dear to my heart.
helpremember
Member
The first thing would be to put almost all of it into some safe, simple investment and then take about a year to figure out what all I would do with it. I would not trust my first instincts - although often thoughtful and cautious, I still have an impulsive streak that could prove dangerous at a time like that.
z3r0d4t4
New member
Donate 1/2 of the proceeds to charity, disburse 1/4 to appease the immediate family members and with the remaining 250,000...go rent-free and purchase a house for under 85,000 (you can get some very nice houses out here for under 100,000), and pay all of the closing costs (round up to 90,000). Furnishings and property adjustments (50,000). Set aside a lump sum to pay property tax and cover unexpected maintenance costs for the next several years in savings (25,000 for 5 years at maximum). Trade-in my current vehicle for a fuel-friendly SUV, upgrade insurance premium, etc (~55,000)
I think you get the general idea. If anybody here ends up winning the sweepstakes in the future...please be responsible with your money. Real property is a great investment in the future with more weight in capital than whatever market investment options are available through your bank.
(Some people might be thinking, "why donate the money to charity?" It might seem a little greedy but charitable donations are a tax deductible expense (at least here in the United States). A charitable donation of 500,000 is sure to put you on someone's map...not to mention, once again, the expense is tax deductible.
I think you get the general idea. If anybody here ends up winning the sweepstakes in the future...please be responsible with your money. Real property is a great investment in the future with more weight in capital than whatever market investment options are available through your bank.
(Some people might be thinking, "why donate the money to charity?" It might seem a little greedy but charitable donations are a tax deductible expense (at least here in the United States). A charitable donation of 500,000 is sure to put you on someone's map...not to mention, once again, the expense is tax deductible.
SUPERSTAR2013
New member
wow, i think i can start dreaming of it, but if i win, i would definetly buy a new house and a car
Gregoric
New member
At the moment, I'd split it into two equal parts. First one would be invested (some gold or house(s)) and the second half would be spend on a trip to South America Making a journey all over the countries there is my dream and life is too short not to fulfill one's dreams, right? ;D
Making a journey all over the countries there is my dream and life is too short not to fulfill one's dreams, right? ;D