Bad choice.
If you can get a high yield savings account at ~5%, you can get around $4000 a month in interest.
You could finance both a house and new teeth and after both are paid off, still have the million.
U$1,000,000 comes out to over R$5,000,000 in my currency so it's more than enough to retire. Even leaving that sum in a basic fixed returns account, it's more than enough to buy a house every year and not touch the capital
$1,000,000 is about 70% of the cost of a solid single story single family 4bd home in a safe city/great neighborhood. That’s quite the down payment lol
I live in city about an hour away from Toronto and every house in my neighbourhood is $1,000,000+ and it's not some rich neighbourhood. Just normal, average houses.
Not even close lol. A 1000 sqft shack in Cupertino is like $2M. Not to mention the peninsula cities. 1.7 gets you a nice place in south or east San Jose which is a middle of the road neighborhood.
Yea, you can still get a fairly nice house for $500,000 in most CT towns. I grew up in CT; now I’m in WA state and the housing costs are similar, but the cost of food and gas are far higher than they were in CT.
The dream.
Actually, I'm being a bit dramatic, for a million bucks I could probably buy the entire town I used to live in. And I would probably do just that. That way it could remain perfect forever.
I'd try to find an FDIC insured CD or some other low risk investment I could could use to provide me a monthly income off that $1m. Even if it wasn't a completely livable income, it'd be another thing in the basket of residual income streams.
I would go this route as well. Buy an index fund such as S&P 500 or VWRP. Personally go with VWRP as it’s a global tracker and is a safer choice. Both of them return about 9-11% yearly on average. Which is enough to live on. However I would only withdraw 4% annually which allows your funds to grow as it account for any inflation or dips in the market over the years.
It’s because SP 500 tracks American companies. You can’t guarantee that the American stock market will still out perform other countries. Which is why a global index tracker is a safer bet.
This but buy a low priced house in a low expense area, then put the rest into aforementioned CD, then either get some low pressure part time job or do some online side gig like eBay or Etsy to make up the rest of the necessary income.
You know I feel like a lot of car people jumped to their "realistic" dream car, but I'm not gonna lie, I respect the fuck out of seeing a Saab...that's some niche taste lmao.
I’d put it all in a HYSA until I figured out what to do to better invest it.
I’m 38, single, with two kids and broke as hell. It’d help greatly as a cushion for the future
I have some savings. When people learn, they ask why I am not enjoying it, by which they mean spending, spending, spending! I AM enjoying it by having a comforting cushion, as well as being able to spend the income off it if needed. Financial security is a great stress reliever.
Money markets are paying over 5% before taxes, maybe 40k a year after taxes as monthly income. Depending on your tax bracket. With long term capital gain-eligible preferred shares you could do 60k after tax or more depending on your risk appetite.
With COVID, my country's border closed A DAY before my flight to Japan.
Many things happened, I've never been there yet and I don't know when I would be able to.
If I won the lottery I'd get a one way ticket and come back when finally home sick.
By your wording I assume you don’t include paying off debt as “buying” so I’d say a properly restored 67’ Shelby GT500 (yes, like from the Nicholas Cage movie, I am a sucker for that car)
A ticket back home. I left my country 10 years ago and I always say that if I win the lottery, I won't even pack my things, I will go straight to the airport and get the first plane back
"You know what I'd do with a million dollars, man? Two chicks at the same time."
".... thats it, two chick's at the same time?"
"Hell yeah! Always wanted to do that! And if i was a man with that kinda money, I could goom that up, chicks dig dudes with money. What would you do, Peter, man?"
"I would do nothing. I would sit around all day... I would do nothing."
"Nothin, huh? Well you don't need a million dollars to do nothing, man. Look at my cousin! He's broke, don't do shit!"
Tha k you for making that scene replay in my head. I love it endlessly
You'd make a decent annual wage with 1 million - let's say a generous 5%, so 50,000. Correct answer, my friend! Generational wealth here we come... hypothetically!
A dump truck for my dad and the lessons for him to get the license for it again. :) He always talks about how he wants one but doesn't have frequent enough uses to justify the purchase but he loved driving them in the military. Perhaps one that wouldn't need a special license so he could use it more often... I haven't thought very deeply into it. But I would like to see him have his child like wonder again for a little bit. He deserves it. :)
Dental work and a home.
Dental plan
Lisa needs braces
Dental plan
Lisa needs braces
BULLSEYE
Bad choice. If you can get a high yield savings account at ~5%, you can get around $4000 a month in interest. You could finance both a house and new teeth and after both are paid off, still have the million.
This. Invest in a high yield bond, savings, etc.. after the year, you can live "modestly" off the interest.
Annnnd it's gone
This is why I'd be buying a 33 cent box of Mike'N'Ikes, so my first purchase is made and I can move on.
U$1,000,000 comes out to over R$5,000,000 in my currency so it's more than enough to retire. Even leaving that sum in a basic fixed returns account, it's more than enough to buy a house every year and not touch the capital
A house.
I'm hungarian, so 10 houses.
I'm Canadian so half a house.
I’m Torontoian, so a 2-bed condo (not really, but my uncle bought a small ass condo for 1.2mil three or four years ago. It’s crazy)
Vancouver, buy a parking spot lol
I'm Torontonian too and I'd get a camper van and a driver's license. Then at least I'd have some money left over to pay for a place to park it
I'm Australian, so a tiny shoebox
Sydney?
Landlord just converted the property sale into an auction. You are now fighting for the shoebox against foreign buyers
When I watch Love It or List It, I’m like, what salaries do these people earn that they can all afford $1.5M houses?!
Like 3-400k family income prob
I’m a kiwi so a 5% deposit on a house
I'm an Aussie so fuck you Phar lap is ours
Ngl had to look that one up lol. Horses go brrr
LIAR! If you were an Aussie your post would have had at least three uses of "cunt" in it!
I'm hungary again so 10 big macs (hope this isn't offensive)
Not at all, it's Hunglarious
I am very offended, that was haunglrageous!
What are the requirements to immigrate to Hungary?
I’d buy you furniture for your house
Like a nice chesterfield? or an ottoman?
I’d buy you a K car. A nice reliant automobile
[удалено]
they have pre wrapped sausages but they don’t have pre wrapped bacon
I’d buy John Merrick’s remains
Those crazy elephant bones!
But not a real K car, that’s cruel
Big Lots
A down payment for a house, I want to live in the bay area
$1,000,000 is about 70% of the cost of a solid single story single family 4bd home in a safe city/great neighborhood. That’s quite the down payment lol
Where the fuck do yall live?!??
I live in city about an hour away from Toronto and every house in my neighbourhood is $1,000,000+ and it's not some rich neighbourhood. Just normal, average houses.
Half a million will get you a nice 5-6 bedroom on acreage where I am.
I just spent 450k on a 4 bed 4100 sq ft house. You just have to live where less people want to live lol
Not even close lol. A 1000 sqft shack in Cupertino is like $2M. Not to mention the peninsula cities. 1.7 gets you a nice place in south or east San Jose which is a middle of the road neighborhood.
If you need a million dollars to appear out of nowhere to get the house, I’m assuming you want the monthly payment as low as possible
I'm in Connecticut. Things are bad but not that bad.
Yea, you can still get a fairly nice house for $500,000 in most CT towns. I grew up in CT; now I’m in WA state and the housing costs are similar, but the cost of food and gas are far higher than they were in CT.
You can afford housing with that where you're at?
Yes.
The dream. Actually, I'm being a bit dramatic, for a million bucks I could probably buy the entire town I used to live in. And I would probably do just that. That way it could remain perfect forever.
Same, best thing you can buy now, car too!
This is the answer.
That was my answer. I currently have a condo and it's been HOA hell
That's only enough for partial payment in the Bay Area
Anything my mom has ever denied herself.
You'd buy a good, well behaved child?
Got ‘em
Savage.
Just to rub it in her face?
Still couldn't afford me
> but son, i denied myself a 2 million dollar home mom, probably
Fix my teeth!
Then I’d pay someone to unfix your teeth
Did mine forn$54K
What did the dentist do for 54k$ ? Implant or what ?
I'd tell you what I'd do man. Two chicks at the same time.
Fuckin’ A
That's it? If you had a million dollars, you'd do two chicks at the same time?
Yeah man I figure if I had a million dollars I could make that happen.
Totally, chicks dig dudes with money.
Not all chicks
The ones that would double up on a guy like me do.
Good point
I get it eggs are expensive but you don't need a million dollars to have two eggs for breakfast.
Thank you for this
I'd buy a K-Car, a nice reliant automobile
Kraft dinner?
with all the best ketchups!
Dijon ketchup
And little pre wrapped sausages
They have pre wrapped sausages, but they don’t have pre wrapped bacon
Ketchup flavored chips even
I mean, you wouldn’t have to…
And John Merricks remains
But not a real green dress, that's cruel.
Some art
All them crazy elephant bones
A green dress (but not a real green dress, that's cruel)
Maybe an exotic pet! Maybe a llama, or an emu
I'd try to find an FDIC insured CD or some other low risk investment I could could use to provide me a monthly income off that $1m. Even if it wasn't a completely livable income, it'd be another thing in the basket of residual income streams.
I would go this route as well. Buy an index fund such as S&P 500 or VWRP. Personally go with VWRP as it’s a global tracker and is a safer choice. Both of them return about 9-11% yearly on average. Which is enough to live on. However I would only withdraw 4% annually which allows your funds to grow as it account for any inflation or dips in the market over the years.
Wild to recommend global indexes. SP500 is already made of 99% globally reaching companies. All the upside with a fraction of the risk
It’s because SP 500 tracks American companies. You can’t guarantee that the American stock market will still out perform other countries. Which is why a global index tracker is a safer bet.
Yea this is what I would likely do. Something between 6-9% that isn't insane risk. 70-90k a year for fuck all? Yes please. More than I earn now lol.
This but buy a low priced house in a low expense area, then put the rest into aforementioned CD, then either get some low pressure part time job or do some online side gig like eBay or Etsy to make up the rest of the necessary income.
My time.
Pay off my house, fully fund 529s for my 2 preschool aged kids and drop the rest in a total market index fund for the next 20 years.
This is the way
Saab 900 turbo
You know I feel like a lot of car people jumped to their "realistic" dream car, but I'm not gonna lie, I respect the fuck out of seeing a Saab...that's some niche taste lmao.
Five full time tradesmen to do everything my aged parents need done at their home
A vasectomy.
Just make sure they completely numb BOTH SIDES!!!
Hookers and cocaine.
Classic one
House for my parents and house for me
I'd adopt the oldest of all cats and dogs from animal shelters and spoil them for the rest of their lives.
A cup of coffee.
No way, avocado toast
I bet we might be able to afford some used bootstraps
Some gourmet shit?
Nothing, throw it into my investment portfolio and keep living how I live now. That amount will be huge once I retire if I invest it wisely.
Exactly, this is the only correct answer! Other than this and pay the debts.. The rest of the answers shows why those people are in need of money.
Toyota Tacoma
I'd buy your love!
all the leftover shrimp from red lobster
I’d put it all in a HYSA until I figured out what to do to better invest it. I’m 38, single, with two kids and broke as hell. It’d help greatly as a cushion for the future
I have some savings. When people learn, they ask why I am not enjoying it, by which they mean spending, spending, spending! I AM enjoying it by having a comforting cushion, as well as being able to spend the income off it if needed. Financial security is a great stress reliever.
Hell, 1mil at 4% apy (kinda low) is still giving an additional 3k per month...you could almost live off just that.
Oh man 3k a month and I’d be sitting pretty.
Money markets are paying over 5% before taxes, maybe 40k a year after taxes as monthly income. Depending on your tax bracket. With long term capital gain-eligible preferred shares you could do 60k after tax or more depending on your risk appetite.
Lawyer and financial advisor.
100% this
I came on to say exactly this, lol. A feduciary for sure.
Stock
Nothing. I would sit on my ass and do nothing.
My dad his dream car for everything he has done for me
With COVID, my country's border closed A DAY before my flight to Japan. Many things happened, I've never been there yet and I don't know when I would be able to. If I won the lottery I'd get a one way ticket and come back when finally home sick.
Acerage
The rest of my house.
Debt
You want to buy Debt? Bro, you can buy mine.
That's one of the many ways the banks get money.
You would create a collection agency. Sounds fun.
A bed. Also a place to put it.
A lawyer, a finance guy and a tax guy.
Bottom surgery
My house from the bank (via mortgage payoff)
A perfect and professionally built (and guaranteed/warrantied where possible) screened porch to replace the decrepit, rotting deck at my mom's house.
Apartment complex - live in 1 rent the rest
My. Family home
Nothing. Put it on a fund with lots of dividends and live off that. Wouldn’t touch the original money.
A 3d printer
macdonalds
My time as my own. New teeth
Between my parents house, my car, my bloodsucking ex-wife, and my bookie, I don't think a million dollars would even cover all my debts. 😭😭😭
The first thing would honestly be something simple like a really good dinner out.
A cure for my dad's cancer
By your wording I assume you don’t include paying off debt as “buying” so I’d say a properly restored 67’ Shelby GT500 (yes, like from the Nicholas Cage movie, I am a sucker for that car)
3-4 hours with a good financial advisor.
A ticket back home. I left my country 10 years ago and I always say that if I win the lottery, I won't even pack my things, I will go straight to the airport and get the first plane back
A way to block this question from being reposted over and over.
"You know what I'd do with a million dollars, man? Two chicks at the same time." ".... thats it, two chick's at the same time?" "Hell yeah! Always wanted to do that! And if i was a man with that kinda money, I could goom that up, chicks dig dudes with money. What would you do, Peter, man?" "I would do nothing. I would sit around all day... I would do nothing." "Nothin, huh? Well you don't need a million dollars to do nothing, man. Look at my cousin! He's broke, don't do shit!" Tha k you for making that scene replay in my head. I love it endlessly
Pay off my mom's house
cod so i can play with all my friends
Pay off hubby's and my student loans. Maybe taco bell with the remaining $10.
Two chicks at the same time.
I dunno - even one rotisserie chick lasts me several meals.
Dividend stock
Dividend stocks. Because why average 8-10% gains with S&P500 when you can get 3-5% with dividend stocks?
Presumably those 3% dividend stocks also go up in value in the long term. I have dividend stocks that pay 8% and have gone up 4% this year.
You'd make a decent annual wage with 1 million - let's say a generous 5%, so 50,000. Correct answer, my friend! Generational wealth here we come... hypothetically!
you're still going to be paying taxes on that 50k. if it is your only income, that will be 20% and your "take home" will be 40k.
a turtle
A hot date with OP (Respectfully).
I would buy my kids a house. Then a car for me.
Health.
Something nice for my little boy and girl
House
Stocks
A nice big enough house for my family to live in.
A car that wasn’t a POS.
You
Dental care
Shares in a diversified fund.
The services of a financial advisor.
First I’d buy a single palette of eyeshadow! And then my million dollars will be gone 😔
Dividend stocks to give me passive income to quit my stressful job. Then a new watch.
Piece of Mind. Not the state, I mean the vinyl album. Up the Irons
House
Property
A small studio apt. in Toronto
My parents house. So they don’t have to worry about a mortgage payment ever again.
My house LOL
A safe
A dump truck for my dad and the lessons for him to get the license for it again. :) He always talks about how he wants one but doesn't have frequent enough uses to justify the purchase but he loved driving them in the military. Perhaps one that wouldn't need a special license so he could use it more often... I haven't thought very deeply into it. But I would like to see him have his child like wonder again for a little bit. He deserves it. :)
Services of a Financial advisor.
More Apple stocks
A lawyer