If you had 1 million dollars, what would you do with it? (70)
ooby_dooby: What do you mean IF?
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DaytonaDude: He said a million, not a billion
either way,relearn to play golf,then tell folks,im the old tiger/woods,lol.------ This thread is Archived ------
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300 for comfort like house and expensive car,100 for some hobby business which will keep me busy,and rest will be in my bank account giving me some interests.
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if I had a million dollars I have my own driving range and putting greens. and if I had enough left I would have a curling rink.
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Leo_7: 300 for comfort like house and expensive car,100 for some hobby business which will keep me busy,and rest will be in my our joint bank account giving me us some interests.
Haven't you forgotten somebody ? .....
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jarred1: If you had 1 million dollars, what would you do with it?
hmmm if you're talking U.S. dollars; 1 million of them doesn't go very far these days... and wait until all the equalising printing catches up to everyone.
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Ok I'm going to give you a serious answer(s).
First off the last place I would put the million is in a savings account. Why should I accept 0.025% interest from a bank while they make at least 40 times that much on MY money?
I wouldn't give it away to anybody not even my family They would just spend it on stupid stuff like a house that's too big for them or new cars. They're gonna get it all after I croak anyway, then they can burn it for all I will care.
I would invest the money in such a way as to make more money, stocks, bonds, etc. Maybe open up a chain of "payday" or "Title" loan stores. Those guys make a pretty good return at least they look like they do. Most people who become rich overnight like lottery winners, are usually broke again within a year or 2. Not me!
First off the last place I would put the million is in a savings account. Why should I accept 0.025% interest from a bank while they make at least 40 times that much on MY money?
I wouldn't give it away to anybody not even my family They would just spend it on stupid stuff like a house that's too big for them or new cars. They're gonna get it all after I croak anyway, then they can burn it for all I will care.
I would invest the money in such a way as to make more money, stocks, bonds, etc. Maybe open up a chain of "payday" or "Title" loan stores. Those guys make a pretty good return at least they look like they do. Most people who become rich overnight like lottery winners, are usually broke again within a year or 2. Not me!
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jarred1: If you had 1 million dollars, what would you do with it?
have a small ranch that helped homeless and abused farm animals, also have a cat hospice.------ This thread is Archived ------
galrads: hmmm if you're talking U.S. dollars; 1 million of them doesn't go very far these days... and wait until all the equalising printing catches up to everyone.
One million would net about 3,160.00 a month in interest. Enough to live well, and still keep the principle amount.------ This thread is Archived ------
I hate to be the bearer of bad news, but a million dollars really isn't that much in this day and age...after uncle sam kept his at least 45% I would probably start a food bank for hungry families in my area
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rohaan: One million would net about 3,160.00 a month in interest. Enough to live well, and still keep the principle amount.
I think you may have way over estimated the monthly amount. What interest rate are you using RO?------ This thread is Archived ------
ooby_dooby: I think you may have way over estimated the monthly amount. What interest rate are you using RO?
One million dollars nets roughly 103.00 a day in interest. (Companies use this factoring to make a little money on their surplus profit). $103. times 30.5 days equals $3,141.50 per day. No, I wasn't far off.------ This thread is Archived ------
jarred1: If you had 1 million dollars, what would you do with it?
I would give it to you.
it is Christmas time after all!
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rohaan: One million dollars nets roughly 103.00 a day in interest. (Companies use this factoring to make a little money on their surplus profit). $103. times 30.5 days equals $3,141.50 per day. No, I wasn't far off.
Oh, sorry, about 3 per cent, which is entirely possible on larger amounts of money. Much higher, I might add, for municipal bonds and higher risk investments. Remember, that amount of money generates more money quickly, as the interest adds, and interest on interest.------ This thread is Archived ------
rohaan: One million dollars nets roughly 103.00 a day in interest. (Companies use this factoring to make a little money on their surplus profit). $103. times 30.5 days equals $3,141.50 per day. No, I wasn't far off.
I just googled a financial page/questions and answers, and a conservative amount given is between 32,000.00 and 38,000.00 a year in interest on one million dollars. That's close to what I said, figure it....------ This thread is Archived ------
lifeisadream: I would give it to you.
it is Christmas time after all!
it is Christmas time after all!
Also I would avoid all the hassle for the 2014 coming
fiscal reforms in this land of mine.
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rohaan: I just googled a financial page/questions and answers, and a conservative amount given is between 32,000.00 and 38,000.00 a year in interest on one million dollars. That's close to what I said, figure it....
I came up with 3.792% interest rate but I don't know of any bank that's paying that high a rate on a savings acct. More like under 0.5%. The national average 1 year CD rate is 0.23% APY according to Bankrate.com.
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ooby_dooby: I came up with 3.792% interest rate but I don't know of any bank that's paying that high a rate on a savings acct. More like under 0.5%. The national average 1 year CD rate is 0.23% APY according to Bankrate.com.
did you deduct what uncle sam wants?
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He said a million, not a billion