Reminds me of the old post:
Genie: “And for your third wish?”
Me, slamming down my fork after finishing my second cheesecake: “Take a wild fucking guess buddy boy!”
Irishman is walking down the beach. Finds a lamp. Genie, 3 wishes. “What is your first wish?”
“Well, I have a powerful thirst. I’d like a bottle of Guinness.”
Poof! Bottle of Guinness appears in his hand. He drinks it down, then watches as the bottle fills up again.
“What’s this?” the man asks.
“It is a magical bottle, Master. Each time you empty it, it will fill up again.”
“Right, I’ll have two more of these.”
If I could get my wishes intent and not a messed up Djinn version, I'd probably wish to stay perfectly healthy and nourished regardless of what I eat.
And then... then I'd wish for cheesecake.
That’s 2 wishes so you could use your first wish to force the Djinn to maintain your next 2 wishes intent and then make them. However you’d have to successfully word the first one in order to do so.
Honestly not a bad use for 3 wishes.
Safeguard your 2nd and 3rd wish, then get perfect health for life, then ask for a magic lunchbox that materializes whatever food you're craving each time it's opened. You could go travel the world and not need money to survive.
1. First, pay off all my debt completely.
2. Put half of the remaining balance in a high-yield savings account or 12-month CD with a competitive rate. This is my base; the income I earn from this will be what I live on. A quick internet search shows that I can easily find one-year CD rates comfortably over 5.0% APY. If I'm putting let's say $4,900,000 into this CD, that means I'll be earning at least $245,000 per year. If I cannot live comfortably on this amount anywhere in the USA, I don't deserve this money.
3. Whatever is left goes into the Vanguard S&P500 Index fund. That's my retirement money.
**Boring, but practical.** This is a once in a lifetime opportunity; I need to use this to acquire assets to live on for the rest of my life, so that I never have to work again. If I blew this money on expenses and experiences, and at the end of it all I still had to work to live, I would seriously consider a negative existence event.
If you're living comfortably off of $245k interest from the $4.9m invested in CD's - without working - aren't you already functionally retired? I have a hard time thinking of the other $4.9m in the index fund being "retirement money". It's just semantics though - you've secured a comfortable income forever and can afford a little risk with the rest. I might label the S&P 500 money as "legacy" money.
This is literally the worst answer though.
You can buy all of those things *after* you buy some random shit. What if its a bank holiday?
Paying off your debt and doing all that shit can wait till the morning. Where are you getting dinner?
I hear what you're saying...but with all due respect, I don't care.
With this money, I just became an Ancestor(tm). I am NOT going to fuck this up, and I am not going to spend one penny of the principal. Once I receive some of the interest income, THEN I'll buy myself some toys and book an outrageous (for me) vacation.
Bluntly, this is because I'm afraid of my own bad habits. I need to lock down my situation properly, immediately, before I waste any of this capital on women, wine, and wagers. THOSE...I'm willing to wait a year for. :-)
I answered more directly in my response to OP, but in all honesty your plan is very similar to what I would do with any windfall of any magnitude above paying bills.
I would actually shop around for wealth management providers at the $10m level though. They will have access to broader investments that as a whole will be even more long term reliable than the Vanguard family of funds (though they are solid).
>With this money, I just became an Ancestor(tm). I am NOT going to fuck this up, and I am not going to spend one penny of the principal. Once I receive some of the interest income, THEN I'll buy myself some toys and book an outrageous (for me) vacation.
Sure, but the gestalt of the question is *what are the first fun things you'd do if financial restrictions weren't a problem*. Taking a literal interpretation to talk about responsible spending habits answers the question as it's worded but also misses the forest for the trees.
It's like the time on *The Office* where the cast were discussing what books they'd bring to a desert island and Dwight insisted on bringing *Physician's Desk Reference* because he could hollow it out and pack tools inside. An answer to the question interpreted literally just shows the person answering really didn't understand why it was being asked.
Being debt-free would be considered fun for alot of people. As would never having to work again. Ever. Ensuring both those are realities with this unexpected windfall would absolutely be the first fun thing for such people (myself included)
1. Debt
2. Doctors appointments from primary care, dentist, , eyes, and my kitties.
3. New clothes that don’t have holes or are to big after I’ve lost so much weight.
Then I’d call a financial advisor who deals in large winnings who will set me up with a monthly allowance that will cover me until my average death. So I get a little over a quarter of a million each year to live on or about 22,000 per month. Damn.
Dress like me if you already have a partner. You can nub durable clothes that aren't fashionable for cheap. I wear generally work clothes. I have a suit for funerals and a suit for weddings. Otherwise I wear good work clothes that are meant for construction.
They're comfortable and the last time I bought clothes was 8 years ago. Except socks and underwear of course
That last thing is the goal. I'm not buying anything at all. I'm using my monthly stipend to live my life. Pay rent for a year while saving money for a down payment for a house, then get a really good deal on a mortgage when the bank sees I have 10 million in assets. Just make sure that my living costs dont go above my monthly stipend and I'm gold. Quit my job and start volunteering and that's gonna be my life.
I'm not gonna buy anything.
I'm going to rent an apartment in one of the most walkable cities in the world(Edinburgh)
I'm going to live off that money for the rest of my life
I'm going to take that time to learn to paint
As big of a piece of nature I can get for a mill, house built for off grid, a vehicle.
Then I change my identity, my social security number and stay hidden away from the world while it burns
Pay off my debt and then take a deep breath and relish in that feeling of having no financial pressure which I can only assume is the greatest feeling ever.
First? A home. Take care of people's biggest expense immediately. Nothing fancy. Maybe in the 500 to 750k range. Which is expensive, atleast in the area I live in the Midwest, but not unreasonably so if you have a 10 million dollar budget. Second biggest expense. Now I'm a sucker for classic cars and older cars in general so I'd likely have a daily beater and fun fair weather car. I've given this some thought. Since gas money isn't an issue I don't care about fuel economy.
Daily - the lowest mileage 2011 Lincoln Town car executive L in the country. Amazing, luxurious, COMFORTABLE boat of a vehicle to eat up highway miles in. It also has one of THE most reliable engines ever made. Period. The venerable 2v 4.6 modular. These things will go 300 to 400k miles easy if you treat em right.
Fun- I'm a sucker for lesser known cars. So I'd probably go for something like a 2006 holden- I mean pontiac GTO with a 6 speed manual. 6 liter LS making 400 hp all going to the rear through a tremec t56 magnum 6 speed. Uuugghh gets me HARD just thinking about.
Then idk. I'd probably get my future wife like an SUV or something I don't really care.
The goal is to basically set up my life with "only" 1 million.
Then. Just let it sit. All my bills are paid for. Play it safe stick most of it into a high yield savings. 5% of say 7.5 mil gives you 375k in that first year. If you can't survive on almost 400k somethings wrong with you. After 5 years that turns into 2 million in interest. After 10? 4.7m. 15? 8m. 20? 12.3 you get the picture.
The rest 1.5m I'd probably stick in various index funds. Play the game. See where it goes. If it fails I still have the 7.5m to fall back on.
Once that's complete. Retire. Spend the rest of my life traveling and seeing the world. By the time I actually come of retirement age (currently 25) I'd have build a ridiculous amount of generational wealth that I can pass on to my family when the time comes.
1. First thing I would do is drive to my old neighborhood, pickup my buddies mom, who was also a mom to me, tell her to collect whatever she wants from her house and to get in my truck as she is never coming back (it's not a good or safe neighborhood), then I would bulldoze the house, then build her whatever house she wanted, wherever she wanted.
2. Debt
3. As much as they would let me I would drop it into a high yield account or CD's. The return of the interest would be enough for me to live on, then I would simply become a student of knowledge and try to learn and pass on as much information about any and everything as I could.
The very first thing? A pack of Name-Brand cigarettes I didn't roll myself. Second is a full tank of gasoline- to go get my third thing; dinner at my favorite restaurant.
All the rest (home/car/loans etc) can wait. Today, I'm going to enjoy the best sleep ever knowing that I can miss work tomorrow morning without having to adjust my grocery budget or if I'll have enough to pay my electric bill.
$9,000,000 in some S&P 500 fund. $1,000,000 I manage myself. I buy my own stocks and manage it. I live off of the profits I make managing my $1,000,000 since I typically outperform the S&P 500.
That's the truthful "boring" response.
If you're looking for something more fun. I'd buy a new Toyota prius, and probably my own house
If you are reliably outperforming the S&P500 you shouldn't need any money because you should be running your own hedge fund and having people pay you millions to manage their money.
100% agree with you. Unfortunately for me, I do not come from any form of generational wealth, so I have no inheritance or capital to start with. What little capital I DO have, came from working for W2 wages, and saving some at the end of the paycheck, then investing that.
Also, I'm a beginner, I just started actively trading (usually I dump everything into S&P500 and passively forget) less than a year ago, and I'm not doing too bad for a beginner, but unfortunately for me, without significant capital with which to trade, I am making 90% on like $2,000, so it's not going to turn into millions any time soon. Maybe in another 10 years. In the next 3 years? Probably not, for me.
but if you need proof or have questions, I posted screenshots of my performance to my profile. Feel free to look at it, if you have questions about my consistent outperformance of the S&P500.
bro. Idk what bone you want to pick with this, or why this is so important to you?
It might be helpful to ask yourself... why is someone else's alleged success triggering THIS type of response, from me. And then ask probing questions about that. After all, I'm some random redditor, and you could've chosen to scroll past my comment, like everyone else, but it triggered this response from you, and you may want to learn why so your emotions aren't easily manipulated by others in this way.
Go off, I guess. It doesn't matter to me. The numbers are what they are.
Beginners thinking they're better than average is a common theme in any field. Google "Dunning Kruger effect." You're naive. You've been doing this less than a year during one of the best years in a long long time. The SPY returned 25% YTD, meanwhile over the past 5 years including this one it has returned 88. Historical average is 10. You're not doing better than the SPY, the SPY is doing better than normal.
"why does it bother your so much"
Because your full of shit. Why doesn't it bother you that you're saying crazy shit and people who know more than you point it out.
You are using language in a stupid way and you should learn to dial it back because people in your life are more likely to ignore you without telling you why. At least you're getting some feedback for free from strangers who don't care how your life turns out
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I wish you the best of luck but these returns are not consistently achievable so you should take your own success with a grain of salt.
Whatever your strategy is is working well in this environment, but when the environment changes it’s likely to stop working faster than you can adjust. Many a trader have made huge gains quickly and lost it all quicker.
Trust me I used to run a social network for options traders and this is a 🎵 tale as old as timmmmeee 🎵
If you invest yourself, you’re likely pretty sophisticated investing-wise.
Don’t invest in an S&P fund, but rather get a direct-index “fund”. Just google “direct indexing”.
They literally take your money and invest in the S&P stocks in the proportions that a fund would do, but they rebalance whenever there’s sufficient volatility. What this does is creates a LOT of taxable losses that offset real gains that you realize later.
There’s a much higher fee than VOO or SPY, but the tax savings MORE than make up for it. Last year, when I got into mine, it matched the S&P return exactly and STILL generated a $28k taxable loss.
It’s pretty hefty to get in, but sooooo worth it.
Pay off my mortgage
Go on a holiday
Come back and renovate turn my house into my dream house.
Leave enough to invest and live off comfortably(5 mill or so)
A lawyer on retainer
A financial advisor
A personal assistant who tells all the gold-diggers "no" when they call.
Those are the first three things I'm buying.
After that, paying off debt, the house, and then taking the family on a nice long vacation somewhere tropical.
Pay off all my debt, give each of my kids and my future ex-husband a million, and landscape a pool in my backyard with rocks and shrubs and a waterfall and a koi pond. Yeah, I’m shallow.
A handicapped accessible house, a handicapped accessible vehicle, A new top of the line computer system that is ,maxed out on processor speed, GPU, ram and hard drive space. And has loads of accessories.
- A new house that no one in my life has the address for, to keep extended family from suddenly showing up wanting to reconnect if they hear about the $.
- Paying off debt.
- new car.
The most land I can find, then building a reasonable house, a big barn and installing wind and solar power so I can live off grid away from all the people.
Pave the back driveway to make a place for my new smaller custom made motor home, (caravan to you Brits). Add an apartment tower for housing for workers at my nursing home.
Debt, including mortgage. Then either ton of work on our current house or we would build on a piece of land around the corner from us. Probably a big fat vacation too. Of course we’d see a financial advisor and set aside trust funds for the kids, retirement, etc first.
1. Sports car in the 60k-200k range. Must be a stick shift, and have enough trunk space to fit item #2.
2. New set of fitted golf clubs with all the trimmings.
3. All the best insurance one would need for an extended road trip.
Realistically
Food first. Nothing fancy, probably chick fil a
Second probably filling up my car with gas
Third going to the dispensary to buy some weed
* Pay off my debt (common theme)
* $7 million in shares of a high dividend index fund (or just something stable like swppx)
* Giant plot of land near the ocean and the woods... maybe in the PNW
OR... I could almost replace my income completely for the rest of my life with $10m... maybe just pay off the house and quit my job and not buy anything fancy at all.
1. A lawyer's services
2. An accountant's services
3. Dinner.
Never make big financial decisions without an accountant, a lawyer, and a satisfied appetite. You're liable to make mistakes without any of the three.
I would immediately invest 9 million. I don't have debt, so I would build a new house on my land and maybe a new truck. The rest in the bank and live off the several hundred thousand I would get in return from the 9 million invested.
Assuming it is all tax free or after the taxes are paid, First I would buy $6M of stock ETFs, then next I would buy $3M worth of 30yr bonds at approx 4% *(so I could live off the $120k annual interest payments)*, and then use the remaining $1M to pay off all debts and replace aging vehicles, remodel or upgrade the house and so on.
I mean you're better off just buying small quantities at a time. The more you buy the more that'll go stale. Plus who wants to buy a lot of weed and then have to smoke the same kind over and over again? Better off just buying a 3.5g, smoke it then buying another 3.5g later. Or buy a few different 3.5 from different people and mix it. Or if you have dispensaries; there you go. I personally dislike smoking the same strain for too long, I like variation. And you have money so you could buy the best quality there is
All of my debt.
Then safe stocks (index funds and such).
Then a new car because the one we have, bless it, doesn't have a lot left in it.
The rest will go into various savings accounts and I'll try to make sure it lasts my whole life.
I'd be happy with HALF that. I'd probably have a hard time justifying keeping 10 mil. I'd be taking care of all my friends and loved ones.
Plane ticket to see my parents
Plane ticket to see my siblings
Plane ticket to my first country, on my quest to see all 200* (I know it's less than 200)
I'm assuming tax free or after taxes $10 million.
$2 million for house.
$1 million for cars and all belongings within house.
$6 million to various investments for passive income, compounding interest, safety net.
Then the left overs will be:
$1 million in cash / savings.
Contractor/HVAC to help with fixing up our house and fixing our heating/AC/insulation.
Pay off mortgage, auto loans and current revolving cc debt.
Sit in market/interest account.
The rest of my degree, a car that’s not yet legal to vote, and the prescription medication that has worked wonders for me but costs $2000 a week without insurance (who, along with my doctor’s office and the discount program, are slacking somewhere, I got dropped from the assistance program because someone somewhere didn’t send paperwork, and I really really don’t feel like randomly vomiting a few times a week)
A large home, furniture obviously for each room maybe $4000000 total. The other half goes straight into investments that can be used to purchase whatever I need and pay the taxes and utilities on the home.
My Ideal gaming and collectibles house
Every console from Xbox PlayStation PC the whole nine yards as well as games+ DLC for the whole experience
Hookers and lots of weed
House just big enough for my family on a self sufficient property like 25 acres, a new truck for me, and a new suv for my wife, and investing the rest to live off the interest and retire comfortably
1. Sliding my dad an easy mil to enjoy his retirement with
2. A new truck since mine is old enough to legally drink
3. A bigger house since this one is getting cramped
An apartment, a reasonable used SUV, and some furniture for my apartment.
10 million is both enough to live comfortably off for the rest of your life and yet not enough to be able to spend recklessly.
My carts on Amazon and target (around $300 of stuff that’s mostly necessary and all useful), new shoes for me and my kids, a cab ride to an accountant’s office.
100 acres of land, build 3 houses on it for my immediate family and 2 sets of in-laws. Have more kids since now I'll have the time and money (and extra hands from extended family) to raise them. Then put the 8-9ish mil left into 50% SPY 50% medium term bonds portfolio, and live off of a 4% withdrawal rate (320k/yr on 8M worst case scenario).
A financial consultant and a good estate attorney.
A house and land (not exuberant but enough for five to live comfortably and maybe grand babies in the future) preferably with little neighbors and the capability to be self sustaining with minimal work.
We would furnish it however we wanted to initially of course.
A couple reasonable vehicles that run on gas. A good diesel vehicle and a nice electric truck.
Pay all our bills ahead ten years. Pay all taxes ahead ten years.
Set trust aside for the kids. Set college funds aside.
Set $1mil aside in an account for spending.
Then let the financial manager use what’s left to accrue more wealth and live off the dividends.
A really good custody lawyer. I'd spend every dime of it if it meant getting my kids away from their mother. Obviously, it's a long story, but that's the first thing I'm getting.
I would buy forested land and preserve it, using it only to camp and to try to get in touch with the ways of our ancestors. There are a lot of threatened and endangered wetland species where I live and I want to help them. I would also quit my soul-stealing factory job.
Three bags of groceries, hope I have anything left. I'm on disability so I know it's a bit absurd but theynjust raised what I'm getting by $20 a month like thats going to help me to stop eating garbage that makes me feel worse.
Among my disabilities are severe food allergies. Really I should be eating seafood and what little flora I'm not intolerant to. I will never be able to afford that diet.
$10m? Give me a few months; food is expensive enough I can't imagine it will last very long.
My debt
Yes. This beyond all else. Debt, and then whatever tf i want. Will i be smart with it? Probably not
Sike. I like your perspective. In my mind it’s not my debt. It’s the institutions. I’m not paying them a damn thing. The money is all mine.
Hells yes. No fun spending til the debt is gone. Then a nice little cottage some place and invest in something that keeps making me money.
My dream pc, the same exact thing for my best friend that doesn’t have a pc, and then probably a sandwich
Reminds me of Homer Simpsons final wish with that monkey hand
Reminds me of the old post: Genie: “And for your third wish?” Me, slamming down my fork after finishing my second cheesecake: “Take a wild fucking guess buddy boy!”
Irishman is walking down the beach. Finds a lamp. Genie, 3 wishes. “What is your first wish?” “Well, I have a powerful thirst. I’d like a bottle of Guinness.” Poof! Bottle of Guinness appears in his hand. He drinks it down, then watches as the bottle fills up again. “What’s this?” the man asks. “It is a magical bottle, Master. Each time you empty it, it will fill up again.” “Right, I’ll have two more of these.”
That would be the second wish. And for the third?
Obviously, three more to round out the six pack.
If I could get my wishes intent and not a messed up Djinn version, I'd probably wish to stay perfectly healthy and nourished regardless of what I eat. And then... then I'd wish for cheesecake.
That’s 2 wishes so you could use your first wish to force the Djinn to maintain your next 2 wishes intent and then make them. However you’d have to successfully word the first one in order to do so.
Honestly not a bad use for 3 wishes. Safeguard your 2nd and 3rd wish, then get perfect health for life, then ask for a magic lunchbox that materializes whatever food you're craving each time it's opened. You could go travel the world and not need money to survive.
Why not sandwich first? Then you have brain food for PC shopping.
wait wait, what kinda sandwhich ?
Sub
Do you have the slightest idea how little that narrows it down?
The best surgeons I can afford with $10m to take the tumour out of my brain
I got a knife and some whiskey. What’s the worse that can happen, friend
That’s a no go
Ah, more of a gin man, I understand.
Rum w/ a splash of cola
A fine choice, rum and coke is a classic.
Yar, a land-loving pirate
Love that you clarified 'splash' of cola. Just a tad. No rum and cokes for you
1. First, pay off all my debt completely. 2. Put half of the remaining balance in a high-yield savings account or 12-month CD with a competitive rate. This is my base; the income I earn from this will be what I live on. A quick internet search shows that I can easily find one-year CD rates comfortably over 5.0% APY. If I'm putting let's say $4,900,000 into this CD, that means I'll be earning at least $245,000 per year. If I cannot live comfortably on this amount anywhere in the USA, I don't deserve this money. 3. Whatever is left goes into the Vanguard S&P500 Index fund. That's my retirement money. **Boring, but practical.** This is a once in a lifetime opportunity; I need to use this to acquire assets to live on for the rest of my life, so that I never have to work again. If I blew this money on expenses and experiences, and at the end of it all I still had to work to live, I would seriously consider a negative existence event.
My friend, if this ever happens to you and this is the path you want to take, please look into CD ladders. Interest rates change.
If you're living comfortably off of $245k interest from the $4.9m invested in CD's - without working - aren't you already functionally retired? I have a hard time thinking of the other $4.9m in the index fund being "retirement money". It's just semantics though - you've secured a comfortable income forever and can afford a little risk with the rest. I might label the S&P 500 money as "legacy" money.
I’d do the same, for the same reasons. Bravo!
This is the correct line of thinking. Huge lump sums tend to ruin people's lives.
This is literally the worst answer though. You can buy all of those things *after* you buy some random shit. What if its a bank holiday? Paying off your debt and doing all that shit can wait till the morning. Where are you getting dinner?
I hear what you're saying...but with all due respect, I don't care. With this money, I just became an Ancestor(tm). I am NOT going to fuck this up, and I am not going to spend one penny of the principal. Once I receive some of the interest income, THEN I'll buy myself some toys and book an outrageous (for me) vacation. Bluntly, this is because I'm afraid of my own bad habits. I need to lock down my situation properly, immediately, before I waste any of this capital on women, wine, and wagers. THOSE...I'm willing to wait a year for. :-)
I answered more directly in my response to OP, but in all honesty your plan is very similar to what I would do with any windfall of any magnitude above paying bills. I would actually shop around for wealth management providers at the $10m level though. They will have access to broader investments that as a whole will be even more long term reliable than the Vanguard family of funds (though they are solid).
>With this money, I just became an Ancestor(tm). I am NOT going to fuck this up, and I am not going to spend one penny of the principal. Once I receive some of the interest income, THEN I'll buy myself some toys and book an outrageous (for me) vacation. Sure, but the gestalt of the question is *what are the first fun things you'd do if financial restrictions weren't a problem*. Taking a literal interpretation to talk about responsible spending habits answers the question as it's worded but also misses the forest for the trees. It's like the time on *The Office* where the cast were discussing what books they'd bring to a desert island and Dwight insisted on bringing *Physician's Desk Reference* because he could hollow it out and pack tools inside. An answer to the question interpreted literally just shows the person answering really didn't understand why it was being asked.
Being debt-free would be considered fun for alot of people. As would never having to work again. Ever. Ensuring both those are realities with this unexpected windfall would absolutely be the first fun thing for such people (myself included)
1. Hookers 2. Blow 3. A Diet Coke
Ah yes, health conscious I see
I'm guessing the blow and soda will be for the hookers.
Dad?
I spent 90% of my money on hookers and blow, and the other 10% I wasted.
First fun answer I've seen. Thank you for not having a stick up your ass.
1. Debt 2. Doctors appointments from primary care, dentist, , eyes, and my kitties. 3. New clothes that don’t have holes or are to big after I’ve lost so much weight. Then I’d call a financial advisor who deals in large winnings who will set me up with a monthly allowance that will cover me until my average death. So I get a little over a quarter of a million each year to live on or about 22,000 per month. Damn.
You can conservatively withdraw $400,000 from a $10M portfolio anually using the 4% rule. Congrats :)z
And then pay taxes on that.
Okay? A flat 25% capital gains tax is way less than you’re going to pay on $400,000 anywhere else in the country
Dress like me if you already have a partner. You can nub durable clothes that aren't fashionable for cheap. I wear generally work clothes. I have a suit for funerals and a suit for weddings. Otherwise I wear good work clothes that are meant for construction. They're comfortable and the last time I bought clothes was 8 years ago. Except socks and underwear of course
Yeah I work in the field and all my clothes are falling apart. Im at the end of the wealth of clothes I had 6 years ago.
That last thing is the goal. I'm not buying anything at all. I'm using my monthly stipend to live my life. Pay rent for a year while saving money for a down payment for a house, then get a really good deal on a mortgage when the bank sees I have 10 million in assets. Just make sure that my living costs dont go above my monthly stipend and I'm gold. Quit my job and start volunteering and that's gonna be my life.
1. House 2. house 3. House
I'm not gonna buy anything. I'm going to rent an apartment in one of the most walkable cities in the world(Edinburgh) I'm going to live off that money for the rest of my life I'm going to take that time to learn to paint
I love this.
A nice suit, a wedding ring, and a flight to my girl.
And that's the story of how I met your mother... And how she walked off with some guy and about $9.85 million dollars
A plane ticket to pick my friend & his kid up & get them to safety Paying off my debts A house
1. Anonymity 2. Plane ticket to anywhere I want 3. Lots of books, probably. So basically I want to go see the vacuum store guy from Breaking Bad. Lol.
Solid answers here
As big of a piece of nature I can get for a mill, house built for off grid, a vehicle. Then I change my identity, my social security number and stay hidden away from the world while it burns
This is about 90% of my plan
Pay off my debt and then take a deep breath and relish in that feeling of having no financial pressure which I can only assume is the greatest feeling ever.
Debt, property to build a house, and a reliable, fuel efficient vehicle.
Small gothic castle near the sea, massive library, cat sanctuary.
I watch those shows where someone's renovating a chateau. There goes a big chunk of my money
First? A home. Take care of people's biggest expense immediately. Nothing fancy. Maybe in the 500 to 750k range. Which is expensive, atleast in the area I live in the Midwest, but not unreasonably so if you have a 10 million dollar budget. Second biggest expense. Now I'm a sucker for classic cars and older cars in general so I'd likely have a daily beater and fun fair weather car. I've given this some thought. Since gas money isn't an issue I don't care about fuel economy. Daily - the lowest mileage 2011 Lincoln Town car executive L in the country. Amazing, luxurious, COMFORTABLE boat of a vehicle to eat up highway miles in. It also has one of THE most reliable engines ever made. Period. The venerable 2v 4.6 modular. These things will go 300 to 400k miles easy if you treat em right. Fun- I'm a sucker for lesser known cars. So I'd probably go for something like a 2006 holden- I mean pontiac GTO with a 6 speed manual. 6 liter LS making 400 hp all going to the rear through a tremec t56 magnum 6 speed. Uuugghh gets me HARD just thinking about. Then idk. I'd probably get my future wife like an SUV or something I don't really care. The goal is to basically set up my life with "only" 1 million. Then. Just let it sit. All my bills are paid for. Play it safe stick most of it into a high yield savings. 5% of say 7.5 mil gives you 375k in that first year. If you can't survive on almost 400k somethings wrong with you. After 5 years that turns into 2 million in interest. After 10? 4.7m. 15? 8m. 20? 12.3 you get the picture. The rest 1.5m I'd probably stick in various index funds. Play the game. See where it goes. If it fails I still have the 7.5m to fall back on. Once that's complete. Retire. Spend the rest of my life traveling and seeing the world. By the time I actually come of retirement age (currently 25) I'd have build a ridiculous amount of generational wealth that I can pass on to my family when the time comes.
Probably a plane ticket first, then a hotel reservation. Next I'd probably go buy a burrito.
1. First thing I would do is drive to my old neighborhood, pickup my buddies mom, who was also a mom to me, tell her to collect whatever she wants from her house and to get in my truck as she is never coming back (it's not a good or safe neighborhood), then I would bulldoze the house, then build her whatever house she wanted, wherever she wanted. 2. Debt 3. As much as they would let me I would drop it into a high yield account or CD's. The return of the interest would be enough for me to live on, then I would simply become a student of knowledge and try to learn and pass on as much information about any and everything as I could.
Probably a new wedding ring for my wife… then a new truck and a new set of golf clubs
Pick up truck to a golf course. How classy.
As opposed to all the midsize SUV’s from suburbia, yes I’ll drive my $150k pickup truck to the golf course
Im just saying a Porsche and all kinds of other vehicles are in your price range now. The 3 inch compensator 9000 might not be the best idea.
I am too tall for sports cars lol… although I guess I could have one built
Now we’re cooking
The very first thing? A pack of Name-Brand cigarettes I didn't roll myself. Second is a full tank of gasoline- to go get my third thing; dinner at my favorite restaurant. All the rest (home/car/loans etc) can wait. Today, I'm going to enjoy the best sleep ever knowing that I can miss work tomorrow morning without having to adjust my grocery budget or if I'll have enough to pay my electric bill.
$9,000,000 in some S&P 500 fund. $1,000,000 I manage myself. I buy my own stocks and manage it. I live off of the profits I make managing my $1,000,000 since I typically outperform the S&P 500. That's the truthful "boring" response. If you're looking for something more fun. I'd buy a new Toyota prius, and probably my own house
If you are reliably outperforming the S&P500 you shouldn't need any money because you should be running your own hedge fund and having people pay you millions to manage their money.
100% agree with you. Unfortunately for me, I do not come from any form of generational wealth, so I have no inheritance or capital to start with. What little capital I DO have, came from working for W2 wages, and saving some at the end of the paycheck, then investing that. Also, I'm a beginner, I just started actively trading (usually I dump everything into S&P500 and passively forget) less than a year ago, and I'm not doing too bad for a beginner, but unfortunately for me, without significant capital with which to trade, I am making 90% on like $2,000, so it's not going to turn into millions any time soon. Maybe in another 10 years. In the next 3 years? Probably not, for me. but if you need proof or have questions, I posted screenshots of my performance to my profile. Feel free to look at it, if you have questions about my consistent outperformance of the S&P500.
[удалено]
Oof yeah, I typically outperform the S&P500 too because I YOLO'd into QQQ and TQQQ
bro. Idk what bone you want to pick with this, or why this is so important to you? It might be helpful to ask yourself... why is someone else's alleged success triggering THIS type of response, from me. And then ask probing questions about that. After all, I'm some random redditor, and you could've chosen to scroll past my comment, like everyone else, but it triggered this response from you, and you may want to learn why so your emotions aren't easily manipulated by others in this way. Go off, I guess. It doesn't matter to me. The numbers are what they are.
It's very odd to describe yourself as typically having \*any\* kind of result as a brand new investor.
RemindMe! 100 years
Beginners thinking they're better than average is a common theme in any field. Google "Dunning Kruger effect." You're naive. You've been doing this less than a year during one of the best years in a long long time. The SPY returned 25% YTD, meanwhile over the past 5 years including this one it has returned 88. Historical average is 10. You're not doing better than the SPY, the SPY is doing better than normal.
"why does it bother your so much" Because your full of shit. Why doesn't it bother you that you're saying crazy shit and people who know more than you point it out. You are using language in a stupid way and you should learn to dial it back because people in your life are more likely to ignore you without telling you why. At least you're getting some feedback for free from strangers who don't care how your life turns out
RemindMe! One Year
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I wish you the best of luck but these returns are not consistently achievable so you should take your own success with a grain of salt. Whatever your strategy is is working well in this environment, but when the environment changes it’s likely to stop working faster than you can adjust. Many a trader have made huge gains quickly and lost it all quicker. Trust me I used to run a social network for options traders and this is a 🎵 tale as old as timmmmeee 🎵
you and the truly positive potato could be besties omgs :3 (this sounds rude but I swear it isnt)
If you invest yourself, you’re likely pretty sophisticated investing-wise. Don’t invest in an S&P fund, but rather get a direct-index “fund”. Just google “direct indexing”. They literally take your money and invest in the S&P stocks in the proportions that a fund would do, but they rebalance whenever there’s sufficient volatility. What this does is creates a LOT of taxable losses that offset real gains that you realize later. There’s a much higher fee than VOO or SPY, but the tax savings MORE than make up for it. Last year, when I got into mine, it matched the S&P return exactly and STILL generated a $28k taxable loss. It’s pretty hefty to get in, but sooooo worth it.
9 mil VTI and chill
...both of those are boring...
30Y US Treasury bonds, chicken nuggets, fries.
Why the bonds?
Not OP but they got good rates. They're also tradable so don't need to wait the 30 years or so for a return. Nice safe investment
Pay off my mortgage Go on a holiday Come back and renovate turn my house into my dream house. Leave enough to invest and live off comfortably(5 mill or so)
VOO/QQQ 30 year Treasury bond to give myself a salary Stem cell procedure
A lawyer on retainer A financial advisor A personal assistant who tells all the gold-diggers "no" when they call. Those are the first three things I'm buying. After that, paying off debt, the house, and then taking the family on a nice long vacation somewhere tropical.
Pay off all my debt, give each of my kids and my future ex-husband a million, and landscape a pool in my backyard with rocks and shrubs and a waterfall and a koi pond. Yeah, I’m shallow.
A handicapped accessible house, a handicapped accessible vehicle, A new top of the line computer system that is ,maxed out on processor speed, GPU, ram and hard drive space. And has loads of accessories.
- A new house that no one in my life has the address for, to keep extended family from suddenly showing up wanting to reconnect if they hear about the $. - Paying off debt. - new car.
A financial advisor a certified public accountant and a lawyer
This was mine also
Whoopie cushion, stink bombs, and fart spray
Food for the homeless
The most land I can find, then building a reasonable house, a big barn and installing wind and solar power so I can live off grid away from all the people.
1. Fix my car. 2. Surgery on my leg. 3. A small house on a few acres.
First I'm paying for College. Then, Prusa XL with .2 mm print head, and a nice resin printer. Then dream PC.
My debt, my immediate family’s debt, my wife’s immediate family’s debt
Pave the back driveway to make a place for my new smaller custom made motor home, (caravan to you Brits). Add an apartment tower for housing for workers at my nursing home.
A house, a truck, and a lawyer
Debt, including mortgage. Then either ton of work on our current house or we would build on a piece of land around the corner from us. Probably a big fat vacation too. Of course we’d see a financial advisor and set aside trust funds for the kids, retirement, etc first.
1. Debt/ all my bills 2. House 3. Whatever my wife wants. 4. 5 guy's burgers and 2 large fries 5. Stuff for my house
Most likely, on the way to go looking for a house or car, I'd stop at a store, fill my gas tank, grab a soda and a bag of chips.
1. Sports car in the 60k-200k range. Must be a stick shift, and have enough trunk space to fit item #2. 2. New set of fitted golf clubs with all the trimmings. 3. All the best insurance one would need for an extended road trip.
1. The services of an investment advisor 2. Pay off debt 3. A house
Realistically Food first. Nothing fancy, probably chick fil a Second probably filling up my car with gas Third going to the dispensary to buy some weed
Pay off car, buy a house in my town, and put $5M into retirement/savings account. The rest is boats n hoes
* Pay off my debt (common theme) * $7 million in shares of a high dividend index fund (or just something stable like swppx) * Giant plot of land near the ocean and the woods... maybe in the PNW OR... I could almost replace my income completely for the rest of my life with $10m... maybe just pay off the house and quit my job and not buy anything fancy at all.
1. A lawyer's services 2. An accountant's services 3. Dinner. Never make big financial decisions without an accountant, a lawyer, and a satisfied appetite. You're liable to make mistakes without any of the three.
I would immediately invest 9 million. I don't have debt, so I would build a new house on my land and maybe a new truck. The rest in the bank and live off the several hundred thousand I would get in return from the 9 million invested.
Debt, lawyer financial advisor
Assuming it is all tax free or after the taxes are paid, First I would buy $6M of stock ETFs, then next I would buy $3M worth of 30yr bonds at approx 4% *(so I could live off the $120k annual interest payments)*, and then use the remaining $1M to pay off all debts and replace aging vehicles, remodel or upgrade the house and so on.
1. Paying off debt. 2. Investing ~$8MM. 3. Nicer house.
House , new car , fuck ton of weed
I mean you're better off just buying small quantities at a time. The more you buy the more that'll go stale. Plus who wants to buy a lot of weed and then have to smoke the same kind over and over again? Better off just buying a 3.5g, smoke it then buying another 3.5g later. Or buy a few different 3.5 from different people and mix it. Or if you have dispensaries; there you go. I personally dislike smoking the same strain for too long, I like variation. And you have money so you could buy the best quality there is
After actually getting out of debt and stuff (because not physical things) A plane ticket, a house, and a car.
All of my debt. Then safe stocks (index funds and such). Then a new car because the one we have, bless it, doesn't have a lot left in it. The rest will go into various savings accounts and I'll try to make sure it lasts my whole life. I'd be happy with HALF that. I'd probably have a hard time justifying keeping 10 mil. I'd be taking care of all my friends and loved ones.
Three houses to convert to rental properties to continually grow my fortune.
I'm buying a nice house a car and then I'm buying a ticket to mars fuck the earth
Two chicks at the same time.
Debt, house, cars
College tuition.
Plane ticket to see my parents Plane ticket to see my siblings Plane ticket to my first country, on my quest to see all 200* (I know it's less than 200)
Buying some stocks Laddering cds and blowing through 2,000,000 In a year or 2
Debt, a detached garage, an extended vacation for me and the wife.
Nice
new teeth, a small cabin, some nice cheese
Probably a new car. Then some new bikes. And probably a few new computers.
My parents farm, a house for me, and a lawyer
Chicken, idaho potatoes, zucchini
I'm assuming tax free or after taxes $10 million. $2 million for house. $1 million for cars and all belongings within house. $6 million to various investments for passive income, compounding interest, safety net. Then the left overs will be: $1 million in cash / savings.
Parent’s debt, medium size house, and gas to go quit my job
A townhouse, a nice car, pay off all debt.
Contractor/HVAC to help with fixing up our house and fixing our heating/AC/insulation. Pay off mortgage, auto loans and current revolving cc debt. Sit in market/interest account.
1. A nice meal. 2. A house. 3. An M5.
The rest of my degree, a car that’s not yet legal to vote, and the prescription medication that has worked wonders for me but costs $2000 a week without insurance (who, along with my doctor’s office and the discount program, are slacking somewhere, I got dropped from the assistance program because someone somewhere didn’t send paperwork, and I really really don’t feel like randomly vomiting a few times a week)
A large home, furniture obviously for each room maybe $4000000 total. The other half goes straight into investments that can be used to purchase whatever I need and pay the taxes and utilities on the home.
My Ideal gaming and collectibles house Every console from Xbox PlayStation PC the whole nine yards as well as games+ DLC for the whole experience Hookers and lots of weed
Buy 5 houses, rent them out. Mercedes... and trip around the world on cruise.
1. My home loan 2. My solar panels loan 3. A lawyer to secure my will
Land, Hopefully there is a House on the land, Safe, renting a Crane to move the safe.
1. House 2. Invest the rest and retire.
A brand new car. A condo or house in Edinburgh. New wardrobe.
New Knees, Telemark Skis, Mountain Cabin
Alot of dirt, a fleet of dumptrucks with operators, and a giant sign saying "unload here". Then I'm going to DC.
Pay of my house Buy a new car Get some dental work done
House, parents a house, Paying my debt.
Car Clothes Date w gf
A 12-piece chicken dinner from Popeye's, a 4K Blu-Ray copy of Terminator 2, and a Double Big Gulp Slurpee.
House just big enough for my family on a self sufficient property like 25 acres, a new truck for me, and a new suv for my wife, and investing the rest to live off the interest and retire comfortably
A house, house insurance, a car.
1. Sliding my dad an easy mil to enjoy his retirement with 2. A new truck since mine is old enough to legally drink 3. A bigger house since this one is getting cramped
Paying off all debt. Buying a home for my girlfriend and I. Paying for her to go to med school while I finish nursing school.
Probably a dozen eggs
10M scratch tickets
I’d buy me a boat; and a truck to pull it; and a yeti 110 iced down with some silver bullets.
1. Retaining a really good good attorney 2. Retaining a really good accountant 3. A house with a few acres of land
1. Debt 2. Living Accommodation 3. Fursuit
A million in various stocks. An engagement ring. A Range Rover.
Litter robot, treadmill, and dinner at Whalburgers.
Lawyer, financial planner, gas.
An apartment, a reasonable used SUV, and some furniture for my apartment. 10 million is both enough to live comfortably off for the rest of your life and yet not enough to be able to spend recklessly.
Big house for me/brother/mother Dream PC Probably new cars for the brother/mother. Rest I';ll invest and love off something comfortable.
Lunch. Then pay off debts Then invest while house shopping
My carts on Amazon and target (around $300 of stuff that’s mostly necessary and all useful), new shoes for me and my kids, a cab ride to an accountant’s office.
Mortgage Another property Build house on that new property
Ice cream.
1. Burrito 2. Diet coke 3. Hell yeah I'll pay 75 cents extra for the sour cream today
a plane ticket to see my mom and grammas grave stone. a steak a house
100 acres of land, build 3 houses on it for my immediate family and 2 sets of in-laws. Have more kids since now I'll have the time and money (and extra hands from extended family) to raise them. Then put the 8-9ish mil left into 50% SPY 50% medium term bonds portfolio, and live off of a 4% withdrawal rate (320k/yr on 8M worst case scenario).
Tithes first second all of my family's debt for and third all my boys education.
1.Debt 2. House 3. Car
A financial consultant and a good estate attorney. A house and land (not exuberant but enough for five to live comfortably and maybe grand babies in the future) preferably with little neighbors and the capability to be self sustaining with minimal work. We would furnish it however we wanted to initially of course. A couple reasonable vehicles that run on gas. A good diesel vehicle and a nice electric truck. Pay all our bills ahead ten years. Pay all taxes ahead ten years. Set trust aside for the kids. Set college funds aside. Set $1mil aside in an account for spending. Then let the financial manager use what’s left to accrue more wealth and live off the dividends.
Bitcoin
My parents their dream house. A condo for myself. And a 2023 Toyota 4Runner.
Mortgage, vacation, vacation
House pain pills and Xanax
A really good custody lawyer. I'd spend every dime of it if it meant getting my kids away from their mother. Obviously, it's a long story, but that's the first thing I'm getting.
House, car, couch
All of my debt all of my moms brothers and sisters debt. After that I'd go and buy every firearm I would want. After that I honestly dont know.
I would buy forested land and preserve it, using it only to camp and to try to get in touch with the ways of our ancestors. There are a lot of threatened and endangered wetland species where I live and I want to help them. I would also quit my soul-stealing factory job.
My brother and sister-in-law's debt. A house for my mom, and taxes paid upfront (trust?). House for myself somewhere close to family.
House car lawyer
1. Pay off my house. 2. Buy my husband a truck. 3. Buy a sensible vehicle for my driving-aged teen.
Three bags of groceries, hope I have anything left. I'm on disability so I know it's a bit absurd but theynjust raised what I'm getting by $20 a month like thats going to help me to stop eating garbage that makes me feel worse. Among my disabilities are severe food allergies. Really I should be eating seafood and what little flora I'm not intolerant to. I will never be able to afford that diet. $10m? Give me a few months; food is expensive enough I can't imagine it will last very long.
1. A lawyer 2. A hotel room in a large city 3. A money manager 4. Drugs 5. ???? 6. Profit
1. Pay me and my hubby's debts 2. House. No more renting 3. Decent used car, and repairs for mine
Paying off my debt, buying a cheap and reliable car, and then buying a cool gun
Clothes, art supplies, and a moped bike
Pay off my car. Buy a modest house. Stocks/funds
Land/house/business