If you had 1 million dollars.....

[HereWeGoAgain]

A million dollars doesn't go that far anymore (inflation). I'd use half to buy a house in the place I want to retire. It would have a swimming pool and a large yard and garden. I'd use the rest to live on in retirement.

Swimming pools aint all they're cracked up to be. I'd give you mine if it was possible.
You spend thousands on maintenance every year and swim in the damn thing two or three times a year.

The place I would live is warm most of the year and hot in the summer. I already swim regularly and would continue to do so to keep fit. I'd probably swim in it most every morning, except for the 2-3 months when it is too cold.

It's plenty hot in Houston.
If you're going to use it for exercise?Then yeah it's a good option.
My next pool will be a stock tank on a hundred acres. Zero maintenance. And I can fish in it.
As far as it being to cold to swim? Not a problem,just heat it. I enjoy my pool more in the winter then the summer actually.

 

[Wake]

.....what would you do with it?

Oh boy.

-Put into IRAs whatever the limits allow.
-Put at least 60% of the remainder into high-interest savings.
-Invest at least $80,000 into preferred stocks with high integrity.
-Become as minimalist as possible.
-Raise snow geese and harvest food from own garden.
-Sell car. Buy a winter-worthy motorcycle with side-car for cargo.
-Joyride across the countryside during the best times of the year.

 

[Skull Pilot]

.....what would you do with it?

Oh boy.

-Put into IRAs whatever the limits allow.
-Put at least 60% of the remainder into high-interest savings.
-Invest at least $80,000 into preferred stocks with high integrity.
-Become as minimalist as possible.
-Raise snow geese and harvest food from own garden.
-Sell car. Buy a winter-worthy motorcycle with side-car for cargo.
-Joyride across the countryside during the best times of the year.

Skip the IRA

All the gains get taxed as regular income not at the lower capital gains rates and the government tells you when and how much you have to take out every year.

 

[Kooshdakhaa]

.....what would you do with it? A million isn't much nowadays, but it is to those who struggle day to day. So...it's a lot of money to muse on what to do with it and how to spend it.

For myself..I would find a cute SMALL 2 bedroom home on 5 to 10 acres. Maybe somewhere in Colorado or upper Arizona. Single level. I think I could find one for about 300,000 or so. Give or take. I would stick the other 200,000 aside for living expenses and medical emergencies.
I would give the few close friends I have that are in the same boat I am in....50,000 each. The rest...ASPCA and Dog Pounds in the city nearest to my dwelling or whichever pound is in most need of cash.

So..what would you do with yours? And do you ever dream of winning the lottery and dreaming on what you would do FIRST?

you forgot

that you would have to give 350 grand to the tax people

We're talking one million AFTER taxes!

 

[Kooshdakhaa]

Well, if I suddenly found myself with a million dollars after taxes, the first thing I would do is probably quit my job. I used to love my job, and I do like working, but things have changed.

Next, I'd probably acquire a couple of Doberman puppies to bring some joy into my house.

Then, I'd probably get some financial counseling so I wouldn't do anything stupid with the money.

Because I really do like to work, and would get bored just being at home ALL the time, I would start a nonprofit corporation to rescue animals. We'd do it right, have a nice facility, maybe even get my vet to come work there, provide him a free office and he can still see his own patients as well.

I'm not going to be spending my million dollars on this nonprofit, however. I'm going to learn to do grant writing and fund raising and support the nonprofit that way. I will also be paid a fair salary for running the place, because I will no doubt work my butt off, as I'll finally be doing work that is meaningful.

Probably continue to live in my same house, but pay off the mortgage. Or maybe convert it back to the duplex it was meant to be, rent both sides out and buy a bit more luxurious house with a dream kitchen.

Money is freedom. The freedom to do what you want and be who you want.

I think about this often, what I would do with a million dollars. It cheers me up.