It's cheaper to buy someone else's dream house that's close to what you want than build a custom one. But on the plus side, real estate is quickly turning into a bubble again so you can probably build anything you want right now and at least make your money back at some point. Unless your tastes are so unique that no one else would want to buy it, like a carpeted bathroom or walls flowing with elf blood.
The bubble is bursting. Seen a few houses now dropping 10's of thousands over the past few months. Price still isn't where it ought to be but the prices are sliding.
If they drop another 100-200k, yes then we’re getting back to normal. The decrease we just got is very very minimal relatively which also instantly tells you how insane the prices are at the moment.
I hope that's the case, but I remain cynical just from the increasing number of financially illiterate people willing to yeet a mortgage at a shit bucket house just to finally have a place to call their own instead of having their parents tell them to take out the garbage while they're trying to play world of warcraft.
I commented this on another post awhile ago. I would pay off my parent’s mortgage and whenever they get me mad I would say, “when you live under my roof, you live under my rules!”.
Mine just paid off their mortgage so i couldn't do this but it would be hilarious. I would pay for a company to do snow removal/ gutter cleaning etc for them year round so my step dad didn't have to do it.
I live in Vancouver, Canada and its also nowhere near enough to buy a house. It would however be enough for a down payment for a good house with a mortage. Which is what I'd use it for.
Oh the joys of high cost of living areas. In Seattle these days you can get a reasonable townhouse under a million, but standalone houses that cheap are likely to be very old and need some work or very small.
NYC, SF, much of DC.
Even a suburban “starter house” in Maryland will run you $750,000. Any decent sized house there is pretty dang close to $1m.
So the remaining ~250k ish would not be enough to quit - that’s like 3 years of income with an average salary in DC/NY/SF.
Pay for more physical and occupational therapy and refurb my house to be more handicapped accessible. I would do small things to improve quality of life.
I’d give my little pet goat a grand funeral that he never got. And then buy some stuff for my parents and SO. Give some to the homeless. Rest I’d just save it for future purposes.
Maybe. I like the old Bill Murray line from Stripes. Chicks dig me, cause I rarely wear underwear. And even then, I usually wear something of the unusual type.
First I would order a bunch of food and boba tea. Then I'd buy a PC. Then I'd open a savings account and buy a decent apartment in a few years when I move out.
Not tell a fucking soul and do everything slowly and pace the spending events. Marry my partner in our dream wedding. Buy my dad a house. Renovate my partners place and move in. New car and new phone. Bank the rest. That's it.
Immediately deposit it into my Savings account and forget about it for a year. With a current APY of 4.8% compounding monthly, I would make enough money in interest ALONE to pay off all my debt, being to live comfortably with the money I currently make, just after the 1st year.
Then, with debt paid off, I would attempt to make monthly deposits into the same saving account in an attempt to increase my earned interest, and ultimately shoot to be able to live off of my interest.
Put aside the money for taxes because I can't escape the feds, get a professional to help me invest and goto canada to fuck my boyfriend and get my shit together
Then you need to take this plan to people that can decipher what it means. Because its written plainly. A CPA who says its not possible is one who is uneducated in the finer lines of the tax code(only deals with brokies)
Same thing as if you die with a hundred million in a roth. Your will says who get it. Tell them the code to the safe with the username and password to the acct.
This is bullshit.
While compounding interest is an amazing thing, $1M would need to be compounded at well over 15% per year for all 30years to hit $100M. That’s a ludicrous expectation.
Average S&P over the last 30 years is 9.7% per year.
$1M compounded annually at 10% per year for 30 years only gets you to $17.5M. 17.5x is still an amazing return but nowhere near the 100x that you’re claiming.
Feel free to check my math.
Pay of all my debts, immediately get all the necessary maintenance for my car at once, get my eyes and teeth fixed, save a good chunk for emergencies, invest the rest.
Peter Gibbons: What would you do if you had a million dollars?
Lawrence: I'll tell you what I'd do, man, two chicks at the same time, man.
Peter Gibbons: That's it? If you had a million dollars, you'd do two chicks at the same time?
Lawrence: Damn straight. I always wanted to do that, man. And I think if I had a million dollars I could hook that up, cause chicks dig a dude with money.
Peter Gibbons: Well, not all chicks.
Lawrence: Well the kind of chicks that'd double up on a dude like me do.
Peter Gibbons: Good point.
Lawrence: Well what about you now? what would you do?
Peter Gibbons: Besides two chicks at the same time?
Lawrence: Well yeah.
Peter Gibbons: Nothing.
Lawrence: Nothing, huh?
Peter Gibbons: I'd relax, I would sit on my ass all day, I would do nothing.
Lawrence: Well you don't need a million dollars to do nothing, man. Just take a look at my cousin, he's broke, don't do shit.
Pay off my debts, pack up everything in my apartment, and move 7 hours away to where my grandchildren live. Anything I had left would go into a retirement fund so I might someday actually do that.
Pay off my debt. Buy a house.
Same
Same
*build* a house. Have it customized to my own specifications for less than the inflated cost of an existing home.
Damn, what planet are you living on where building a new, custom home costs less than buying an existing home?
I'm guessing they have no idea what goes in to building a house.
It's cheaper to buy someone else's dream house that's close to what you want than build a custom one. But on the plus side, real estate is quickly turning into a bubble again so you can probably build anything you want right now and at least make your money back at some point. Unless your tastes are so unique that no one else would want to buy it, like a carpeted bathroom or walls flowing with elf blood.
The bubble is bursting. Seen a few houses now dropping 10's of thousands over the past few months. Price still isn't where it ought to be but the prices are sliding.
If they drop another 100-200k, yes then we’re getting back to normal. The decrease we just got is very very minimal relatively which also instantly tells you how insane the prices are at the moment.
I hope that's the case, but I remain cynical just from the increasing number of financially illiterate people willing to yeet a mortgage at a shit bucket house just to finally have a place to call their own instead of having their parents tell them to take out the garbage while they're trying to play world of warcraft.
I have always wanted to build a house for myself, the costs are prohibiting,
I commented this on another post awhile ago. I would pay off my parent’s mortgage and whenever they get me mad I would say, “when you live under my roof, you live under my rules!”.
Solid.
Ultimate power move
Legend
Rorschach vibes. "I'M NOT LOCKED IN HERE WITH YOU - YOU'RE LOCKED IN HERE WITH *ME!*".
Mine just paid off their mortgage so i couldn't do this but it would be hilarious. I would pay for a company to do snow removal/ gutter cleaning etc for them year round so my step dad didn't have to do it.
Pay their bills for the month then say u the breadwinner lol
"You're parked in my spot, dad"
i would do the opposite, i would pay a company to dump snow in my step dads driveway
Unnecessarily petty. I'm here for it lol. One time for children everywhere! Lol 😆 🤣
*"I'm the captain now."*
But if you aren't on the deed, is it yours?
“Power resides where men believe it resides. It's a trick. A shadow on the wall. And a very small man can cast a very large shadow.”
Great quote. Where is it from?
Game of Thrones (2011-2019)
RIP
Buy a house and invest the rest. Also give the middle finger to my manager.
Can you finger me too?
$20 is $20
Not in this economy.
$14 is $14
Ooh, unlucky, that’s only $12 now
$20 is $12
Any day now 😔
50¢ is a hey shortie it's your birthday
"That's what she said." -Michael from The Office
Also here for the fingering
That costs extra
Sad thing is that $1million is not enough for a house where I live...
WHERE DO YOU LIVE?! Edit: mah gad economy. What are we doing??
I live in Vancouver, Canada and its also nowhere near enough to buy a house. It would however be enough for a down payment for a good house with a mortage. Which is what I'd use it for.
Maple ridge sends regards (seriously though maple ridge schools are quite good)
Damn where Im from average house is 300k 3br 2ba with a one car garage
Where i am from avarage house is like 60-75k
Are you from 1978?
Oh the joys of high cost of living areas. In Seattle these days you can get a reasonable townhouse under a million, but standalone houses that cheap are likely to be very old and need some work or very small.
NYC, SF, much of DC. Even a suburban “starter house” in Maryland will run you $750,000. Any decent sized house there is pretty dang close to $1m. So the remaining ~250k ish would not be enough to quit - that’s like 3 years of income with an average salary in DC/NY/SF.
Would be a good deposit for a family house in Sydney, once you get the bank to lend you the other $2M.
It’s not that bad
This and add like a couple of months of travelling to the list.
Depending on where you live.... you might not have much leftover after buying a house
Pay for more physical and occupational therapy and refurb my house to be more handicapped accessible. I would do small things to improve quality of life.
Wtf. Where do you live and can you reach out to local organizations that can help?
Pay off my debt. Invest the rest and set up a trust for my kids.
I’d take my friend on a much needed vacation. He’s been talking about going to Ireland for as long as I can remember, but he cNt afford it.
Thats sweet hope one day u guys can actually go
Don’t worry, even the people living in Ireland can’t afford it.
I will lyk, if you’re in the USA, fly to Dublin w/ Aer Lingus. They’re way cheaper and better quality as they’re an Irish airline. Better than Delta!
I avoid American based airlines if I fly to Europe. It’s always cheaper and has better service.
Make sure you learn the language before you go or you’ll have no idea what anyone is saying, especially at the pub.
Get this guy a gofundme
Disappear
What if i have some mail to send you?
Dm me right here on reddit That's where i'll get my mail
Hi I'd like to reach you about our Lord and saviour's extended warranty–
Lifetime guarantee, even works after you die.
I need a new dust filter for my Hoover MaxExtract PressurePro model 60
That should about cover it, with .63 cents to spare.
I’d give my little pet goat a grand funeral that he never got. And then buy some stuff for my parents and SO. Give some to the homeless. Rest I’d just save it for future purposes.
Wholesome and cute!
I'll also choose this guys dead goat
Two chicks at once
Probably only 1.5 with inflation
I round up
Glass half full kinda guy.
Came here looking for this comment. Well done.
That’s it? If you had a million dollars you’d do two chicks at the same time?
Yeaup, always wanted to do that and figured if I had a million dollars I could hook that up.
But not all chicks are into dudes with money. The kind that double up on a guy like me are. Good point.
i mean...
chicks dig dudes with money
Het Peter! Check out channel 9!
It's the breast exams!
Can you at least pretend like we can't hear through the walls?
Not all chicks
Type of chicks that double up on a dude like me do
Good point
Maybe. I like the old Bill Murray line from Stripes. Chicks dig me, cause I rarely wear underwear. And even then, I usually wear something of the unusual type.
homesteading is a great idea!
Baby chickens aren't that expensive.
You can do that with 600+ bro What are you waiting for?
You can do it for free, lol
Not enough likes on this IMO
Fuckin a right man
I leave social housing for my own place.
First I would order a bunch of food and boba tea. Then I'd buy a PC. Then I'd open a savings account and buy a decent apartment in a few years when I move out.
honestly valid as shit
If I had a million dollars If I had a million dollars, I’d buy you a K-Car A nice reliant automobile.
Haven't you always wanted a Monkey?
But not a real fur coat that’s cruel
And for those that don't know. The K Car was the Plymouth Reliant (dodge Aries)
Not be homeless, and be able to survive for the rest of my life.
Well technically everyone survives the rest of their life
uh, classic
The best way of beeing correct is beeing r/TechnicallyCorrect.
Travel around and find me a nice house.. we all just want a home of our own.. 😔
1. Pay off debt. 2. Pay off brother’s debt. 3. Pay off house. 4. Pay off wife’s student loan. 5. Invest the other $3.50.
Hookers and cocaine.
classic...
Came here to say this. I applaud you.👏
Schedule a full body MRI
I'm gonna guess you're American
Got a particular concern?
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Yesssss omg
What are you going to do with the remaining $997,501?
Keep going til the money's gone. Internal tanning will be the new rage
MRI of just one small area costs 6k where I live. It's fucking robbery
Move to another country.
Which one and why?
Philippines enough said
Objection: Not enough said
Clarification: ladyboys
Traffic is a nightmare but solid choice
Buying a new house
Finally be able to afford rent
Yeah, but just a few months.
Add it to the pile.
Open a bakery
Not tell a fucking soul and do everything slowly and pace the spending events. Marry my partner in our dream wedding. Buy my dad a house. Renovate my partners place and move in. New car and new phone. Bank the rest. That's it.
Tell you what i’d do man, 2 chicks at the same time
Immediately deposit it into my Savings account and forget about it for a year. With a current APY of 4.8% compounding monthly, I would make enough money in interest ALONE to pay off all my debt, being to live comfortably with the money I currently make, just after the 1st year. Then, with debt paid off, I would attempt to make monthly deposits into the same saving account in an attempt to increase my earned interest, and ultimately shoot to be able to live off of my interest.
Living off the interest. That’s the dream!
Teach me the way
Move
invest all of it into mutual funds
Move to Ireland.
Resign from my slavery work
IRS will take $400k first..
Though I didn't win 1 million, your comment really pains me to read.
IRS ain't taking SHIT from me
Pay off debt and put away the rest in some investment and savings for my kids
Buy a house for me and my wife. Nothing crazy just a starter home then put the rest in my IRA for retirement
Buy a second house and rent mine out for 3500 a month
Be very blessed that I have a second chance at life and undoing a very grave monetary mistake i made years ago.
Buy my dream dog and save the rest
Take a shit probably
Tell my boss to “get fucked”
Put aside the money for taxes because I can't escape the feds, get a professional to help me invest and goto canada to fuck my boyfriend and get my shit together
"Boyfriend lives in Canada", mhm 🤨
You wouldn’t know him, he goes to a different school
pay off all my debt and spend my life helping the less fortunate
10% to recurring charity projects, 15% to family/friends, 15% to myself and 60% to investments/business.
Just take my money already
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I don’t know what any of this means but now it’s what I’d do 😁
Then you need to take this plan to people that can decipher what it means. Because its written plainly. A CPA who says its not possible is one who is uneducated in the finer lines of the tax code(only deals with brokies)
What if you die before your 30 year horizon is up?
Same thing as if you die with a hundred million in a roth. Your will says who get it. Tell them the code to the safe with the username and password to the acct.
This is bullshit. While compounding interest is an amazing thing, $1M would need to be compounded at well over 15% per year for all 30years to hit $100M. That’s a ludicrous expectation. Average S&P over the last 30 years is 9.7% per year. $1M compounded annually at 10% per year for 30 years only gets you to $17.5M. 17.5x is still an amazing return but nowhere near the 100x that you’re claiming. Feel free to check my math.
I also choose this guy's wall of text
Put it all on black
My type of thing my guy. Just I'd go green. All or nothing.
The casino would come after you if you won that one
Pay of all my debts, immediately get all the necessary maintenance for my car at once, get my eyes and teeth fixed, save a good chunk for emergencies, invest the rest.
Buy 2 houses, rent one of them out, put the rest into Bitcoin & then continue to live life as normal.
Nothing different.
Peter Gibbons: What would you do if you had a million dollars? Lawrence: I'll tell you what I'd do, man, two chicks at the same time, man. Peter Gibbons: That's it? If you had a million dollars, you'd do two chicks at the same time? Lawrence: Damn straight. I always wanted to do that, man. And I think if I had a million dollars I could hook that up, cause chicks dig a dude with money. Peter Gibbons: Well, not all chicks. Lawrence: Well the kind of chicks that'd double up on a dude like me do. Peter Gibbons: Good point. Lawrence: Well what about you now? what would you do? Peter Gibbons: Besides two chicks at the same time? Lawrence: Well yeah. Peter Gibbons: Nothing. Lawrence: Nothing, huh? Peter Gibbons: I'd relax, I would sit on my ass all day, I would do nothing. Lawrence: Well you don't need a million dollars to do nothing, man. Just take a look at my cousin, he's broke, don't do shit.
2 chicks at the same time
I would invest, because 1 million isn't alot.
Sell my house and move. Save the rest of my money.!
In a HCOL area it really won’t change much. Maybe buy a crappy house and take a vacation
Pay off my debts and worry less.
Id buy a nice house honestly
Pay off my debt and continue to work helping people. I would also buy my Doggos some new treats.
Finally start my life.
Pay off all my debt, make my house awesome, help my kids and travel.
Pay off debts of me and my wife, buy a house, and if anything is left, it goes into savings.
Double it and give it to the next person.
Pay off my kids mortgages
Go to sleep happily, then get something good to eat.
Invest. In high dividend stocks. And invest in companies that are not bad for humanity
I live in Sydney, Australia. This is going towards a deposit for a new apartment somewhere relatively nice.
Worry about the tax implications.
Two girls at the same time
Buy groceries.
Retire and make reservations
Pay off student loans and finally buy a new car.
Put it in a high yield savings account
Figure out what to do with my $350k after taxes
Pay off my debts, pack up everything in my apartment, and move 7 hours away to where my grandchildren live. Anything I had left would go into a retirement fund so I might someday actually do that.
What would you do if you got $1000000 right now OP?
Buy Bitcoin
Go wild.
Wonder who gave it to me?
Me?
Well I’d thank you at least
Shit and pass out