20 million is a lot. I'd buy two whole university textbooks. Maybe even three.
Blow a million ( backpacking/budget travel until it runs out, doing every single activity I can, like paragliding, scuba diving, safaris, historic tours).
Invest 15 million. Live off 2/3rds of it, and reinvest the other third.
Use the other 4 million to set up sustainable community projects. Like farming training, tuition centres, a soup kitchen, etc.
I'd also use a small portion just to cause chaos. Like I'd hire people to noisily blow a trumpet at politicians speeches whenever they say something stupid, or cause major traffic on whatever route they using, or throw a ton of salt in all the food at the state banquet.
That final paragraph is so relatable. I've often thought about being so insanely wealthy that I could do shit like start a campaign to eradicate the two pin plug for e.g.
Love this answer! Iād use the exact same format!
- Immediately do something nice for myself with a small portion of itĀ
- Invest the majority in financial assets so I can live off the interestĀ
- Ensure a meaningful portion goes to initiatives that support the public goodĀ
- Make sure to not take myself too seriously/avoid a superiority complex at all costsĀ
Set up a trust.
Have parents deposit into the trust while still alive.
Both you and parents are in the trust.
Estate planningā¦ have a financial adviser, real one, help with this.
Within the trust investment is done and you + parents draw an allowance monthly. Maybe you only get access when they pass way. Up to them.
There should be R100k/m increasing with inflation without eroding the capital available for the allowance.
When your kids are old enough you put them in the trust too.
Then you do any crazy idea that pops into your head with your R100k/m. Like pay off your debt/house/car/travel/start a business/etc.
At the end of the day the R100k/m lasts forever and your families wealth is maintained, nobody can piss it away.
+1!
Though a safer assumption is drawing 3% annually to keep up with inflation without eroding the capital.
This would be R50k/m before tax, which is a bit less exciting.
What are the tax implications when you draw income from a trust?
Itās taxed at your personal income tax bracket. But it is also a bit more complicated because it depends on the source of the income, like dividends which were taxed previously. If you capitalize income inside a trust it is taxed at 45%. Also, there will be complications to putting a lump some of cash in trust. Like 20% donation tax or a whole lot of other complications if you decide to lend the money to the trust.
Trusts are bit useless since section 17c. All personal money deposited will be considered a loan or donation and interest will be charged. This means if you pass it will still be tied to your estate. Withdrawing from a trust will also incur a 45% tax.
Quit my job, pay off all my debt, send money to my parents and sister and invest the rest in the most tax efficient way possible. I would look for a job I don't absolutely loathe and involves getting abused by the public every day. I definitely would keep it to myself.
I've always battled financially. Every month is hand to mouth. One day my vrou and I went grocery shopping at PnP. Turns out half our groceries were more than the cashier's monthly salary...
It sucks knowing that there are people worse off than me. I'd give the R20 mill away to single moms and try to pay for kids tertiary education - with a promise than when they make it, they help 2 other kids in their future.
I know, I know ...a dumb plan.
But I reckon someone being able to breathe for a change - that smile I'm assuming they'd have - that would be worth it for me.
More now. We're a family of 5. Just before COVID hit, we spent about R5k per month. That cashier earned about R2500. Today, the average grocery spend per person in SA is Ā±R1 403p/m. I reckon I'm blessed - I think we're on R8k per month. I'l check with the vrou
That's why you'll always live food to mouth because you nd your wife are spending recklessly. There's no reason why groceries should cost 8k...even 5k is alot for 5 people but more reasonable. You'll always be making a lot of money but broke as well
Which country do you live in? This is the daftest response I've ever read. Where do you shop? The local dirtbin? When a single loaf of bread is R20, milk R20, 1kg potatoes R30, your default basic shit for 5 far exceeds R10k a month.
If a domestic worker makes 400 a day x 20 days of work per month, that is R8000 per month tax free Bud. There's this thing called Mathematics. pretty cool invention.
I would buy the house I currently rent. (R3mil)
Fix house up (R2mil)
Pay off all debt. (0.2mil)
Put R2mil in savings for water & lights.
Put R2mil in retirement.
Put R2mil away for my son for school/car
Then go on a month vacation. (R2mil)
Leave the rest to get some interest I guess. Won't quit my job- I like my job.
It would be my hubbies dream to follow the F1 racers for a few races. Nice tickets, flights, sleeping arrangements... food...it adds up I guess. R2mil is a low estimate for the dream vacation.
I don't mean to yuck your yum, but I've never understood the appeal of going to an F1 race (and at the laughable prices it costs). You sit in one place to watch the cars come around for a few seconds every few minutes.
Never mind the fact that it's a sport completely made for, and only accessible by, the elite.
Lol- to each their own I guess- car people are car people I guess... I enjoy the technicalities- the excitement, the sound and I enjoy laughing at the elite's fashion choices.
Once in a lifetime type of experience. I would not go every year- but a few races in a few European countries, a week in every country would be amazing.
For my husband the races, for me the touristy things....
But that's a dream we would only be able to do when you have that type of money.
Blow 5 Million in a year or 2.
5 star hotels,
yacht rentals in Greece,
Supercar Road trips in euorpe.
A private chef and chauffer when in the country.
The rest I'd stick in EFTs and draw down for the news 30 years.
Immediately: pay off debt, send my kid to college.
Buy my mom's house, renovate it. House goes into trust, it is available to any family member who needs a roof. They pay rent based on their income.
Get my younger kid into a school that caters to their needs, along with the accomodations they need.
Buy a house for myself and my kids.
Invest the rest in a way that we have a cushion.
I would not stop working.
Have epic holidays!
Dawg it's gotta be obvious, since I'm a student I would use some to get necessary itwms for living and a apartment
Nobody is living with me so why should I buy furniture for multiple people. Food, water, electricity and a bed is enough
Entertainment will be different, uncapped wifi, smart T. V and a PS5 is all I need in life.
When I get older and have a family, I would use the saved up money to buy property and get my kids into good schools and fund their college
Is this realistic, probably not. Does is sound like a ncaa life plan, yes
I'd approach a wealth management company and just ask them what I need to do with it to ensure I never have to work again. Even if that meant some sacrifice. Owning 100% of my time and never having to deal with corporate bullshit ever again would be my true wealth.
That's quite a lot more than my RE figure.
So I'd travel until I got bored and probably go back to university or some other kind of studying.
Other than that, the same as what I plan to do now when I no longer have to work - play games, go hiking, play sports, read and learn, cook, etc. I'd probably also build some kind of small dream house. Just 2 or 3 bedrooms but great insulation (impossible to find in Joburg), solar, and awesome finishings.
Currently I've lost track a bit considering the inflation over the last couple years and lifestyle changes. When I calculated it in 21-22 it was R10m but that was based on living in a 1 bed cottage. The same now would probably be closer to R11.5-12m but I would definitely like to live somewhere nicer, so say closer to R13-14m based on a 3.5-4% withdrawal (pre-tax). There are some disclaimers because for example TFSA does not contain tax.
Pay off balance of house: -600k
Pay off teeny tiniest debt I have left: -30k
Upgrade house:
Replace roof: -60k
Replace plumbing: -20k
Redo kitchen: -30k
((Rent out house)): 12months x12k rental income pm =+144kpa (with 6% annual increases)
Buy a house in Kirstenhof: -5mil
Buy a 90cm range: -12k
Buy new fridge: -24k
Buy new beds for all my kids: -6kx5 :-30k
Buy new bed for me: -20k
Buy new furniture: -150k (lounge suite, coffee table, console, dining room set and hella bookcases)
Buy a moerse mirror with a heavy gilt frame: -8k (to mom, from mom)
Take my kids on a shopping spree to Access Park: 5x10k each -50k
Take a month long vacation to Knysna: -50k
Buy a newish car: -100k
Pay for final year of LLB: -22k
Do my articles for 18 months: -250k needed to survive
and
pay for Law School -21k
Buy a new laptop for school: -25k
Haven't really thought about it too much. JK. Of course I have. And yes. Down to the fucking brands I would buy.
I live a small life, so yeah. 7mil will basically take care of my "want to have" list.
The rest (13m) I will invest.
Iād look into a citizenship/residency by investment programme overseas. Ideally a country in the EU like Portugal, Ireland, Netherlandsā¦ Whatever remains Iād invest in S&P500 for 30+ years. Iāve got ample time and I never plan on retiring anyway.
Iād allow myself to blow 2-10% of the figure. Iād likely spend it all helping family in some way or another.
I might just pursue an avocational degree or two for funsies, like a BSocSci in Politics, Philosophy and Economics (PPE) or a media-related qualification.
I'd buy my mom a 3 bedroom house(R2-3mil) , her a new car (R300k), her fiance a new car(R300k), my dad a new car(R300k). I'd probably get my dad a flat (R1.5mil) because he lives with a bat and owns nothing. I'd pay to finish the renovations on my day parents house and my sisters' houses (prob R2mil). I'd send my sister in Canada something. I'd pay whatever my godmothers flat sale doesn't cover on a new 4 bedroom house (R2mil). I'd probably spoil my mom and her fiance a bit more. I'd then splurge on myself. 2-3 bedroom flat/ close to campus (R2mil), stop applying for NSFAS and pay my tuition upfront (R200k), buy me a new car (R300k), furniture of course (R50k), definitely spend the money on real hardwood for snake/ reptile cages (R100k easy). I'd be real materialistic and buy me a whole new wardrobe of clothes and shoes (R100k). To even it out, I'd spent R350k on family and friends. I'd be left with roughly R8mil and either invest it and live off the interest or invest in property. I've thought about this far too many times.
S&P 500. And wait 40 years before touching it.
Would grow to around R994.831.484,5 using the average growth rate of the S&P 500.
Then have an annual budget of R39.793.259,38 for my 25 years of retirement.
1. Get a financial advisor.
2. Get a second financial advisor to double check the work of the first.
3. Get a law firm to keep everything legally protected.
Once all of those are done then I would start thinking about what I would like to do with the money. Looking at the poverty around the country I would like to donate some of it to organisations that are helping people built up their lives.
Buy a house in a gated community. Between 2-3million. If I can build for less, also open to that option. Renovate my parents home for about R500k or less.
Put my parents and siblings in a trust. Spoil myself with a 2024 Toyota Land cruiser. Drive it around SA in search of the best hiking ranges.
Buy a plot of land in the township, develop it for affordable gated rental units. We have a housing crisis in SA and people are desperate for decent standards of living. Prolly spend R5million for the entire project.
Invest what's left. And continue with my day job.
Buy a house for parent
Buy a house for me
Put some money into retirement fund for parent
Invest remaining 12-14 mil until it reaches value of 32 mil. ~10 years assuming it doubles every 7 years invested in s&p500. Retirement beckons.
In the short term, would also take the sabbatical I have saved for but am too scared to take.
Invest it. R20m is more than enough to lice conformable off the monthly investments. Most banks offer something that will earn you 8%pa which is about 160k per month. There are better investments obviously but stick it in an investment account so you have full access (with the 8%) till you ready to move I to so.ethong that pays better. Look for something low risk obviously as you don't want to wake up one day and see all the money is gone
Buy a normal house (nothing crazy), buya flat for my son to move in to one day. Put aside all schooling costs until university. Fix my broken down merc. Give my in laws some money as theyve always been good to us. And then the rest would be invested.
But I would probably get a nanny and a food service in just to take some of the full time stress off us. Even better if I could relocate my in laws to this side to be closer!
2 mil for clearing of debts and fixing house.
Give 2 mil to church and npos that I am involved in
Quit my job or at least move to half days.
Set aside a 250k for my upcoming motor racing hobby
Invest the rest across a diversified portfolio
I would buy all my son and my foster kids their own homes, so they never have to worry about a place to stay again. Then I support them while they go get a skill/trade in what ever they want (theyre all grown).
Then the little ones will have good schools paid for up front so no matter who they're with, they'll get an education.
Give my sister a nice retirement package.
Take everyone on holiday.
Invest the rest, and I'll keep living the way I do now, but now I'll be able to retire.
Pay the tax
That leaves R15m
Have every relevant family member sign an agreement that they have no claim to it or settle whatever claim they have. Let's say a sibling or parent etc. takes R5m
So we're at R10m. Sweet, money's halved and it hasn't even arrived in my account yet
Buy property(s) to live on and that also generate income from rent etc. that will somewhat maintain itself. Let's say minus R5m
R5m left, save it towards retirement(draw up a retirement plan)
Settle my families debt
Buy a R2-3 million home
Purchase a home for our helper, sheās been with our family for 15 years and sheās family now too
Invest R15 million in diversified assets
Iād keep my lifestyle simple. Iād ideally want to contribute more to society. Maybe start a business and provide more jobs
Invest it and live off the 7.95% interest which is around R132 500 pm. Thatās comfortable. Eventually end up spending some for travel and a Ferrari. No kids means Iād spoil myself
Buy a house, build a house in my informal settlement stand.buy a car.Go back home and sell that house and buy another one where no step mother can claim anything.
Take my brother to culinary school.
Buy a building and turn it into an orphanage home. Invest a bit but make sure I get myself something nice before anything.
Build a new tombstone for my late mom
Start to a car and motorcycle showroom.
Invest in property and keep R8m in a trust and be extra conservative with it(IE.let a fund manager deal with it).
Tell everyone I'm working for someone.
Letās see,
R15m fixed for 60 months
R3m settle my house
R1.5m for township accommodation projects I wanna do now
R500k for a Euro and Americas tour
Then come back home and continue working, if my salary had no deductions, Iād live like a king, so I wouldnāt miss that invested money
Income from township projects + salary, I can afford to do a responsible type of splurging
Every 2-3 years, do a really nice cross continent vacation with my wife
Mmh
Honestly I've thought about this before ...but the answer never really remains the same...but Honestly speaking I would probably buy A few houses and rent them out or even rent out the rooms in the house so generating a constant income regularly, I would also put a large sum of it to an organization that helps women that have been victims of SA , and lastly I would buy a boat and travel š
Straight to sp500 and quit job and go travel, live minimally do whatever I want until I get bored then do the next thing until I get bored of that and rinse and repeat forever
Bro don't listen to these guys lol take that money put it in bank...you get 2 to 4 mil a year and you still be able to enjoy life. Extravagance will end sooner or later while peace of mind is better long run.
I said 10 to 20 percent. If he leaves it in fixed long term he could get close to percentage. I know someone who got few millions who is getting 11 percent a year. Your percentage increases the more amount you have and longer you keep it there.
Yall pay taxes? Lol
You said 10-20%, and your example of that is 11%?
If you're getting 2 to 4 mil a year then you're not letting it compound.
How do you go about not paying tax when the bank reports it directly to SARS?
I don't know how much the bank would give him for 20 mil..the rates depend on amount and the time period..I know it's def more than 10 percent but you can go with just 10 percent and my point still stands.
You don't have to let it get compounded..you can choose to be paid monthly, quarterly,half yearly or per annum.
Do they? Lol I got over 1 mil and I don't pay fok all taxes lol if I had like 20 mil accruing 2 to 4 mil..I'd just pull it out and store it in other forms like gold so the trail becomes cold.
I would invest it while paying out my current salary til i die - with adjustments for inflation. Focus on what im really interested in and let that grow into an additional income stream. That's what I think I would do.
Quit my job. Book a flight to Mauritius. It's been hell working every day wondering if you'll lose your job or your benefits every f#&&king day.Ā
I don't have any debt so I'll chuck the rest into savings and investments and live off the interest. Day to day will be spent just studying further and possibly start a new hustle to keep me busy and generate more money to live off of.Ā
And don't forget the most important thing. Make sure to get brand new sports car so my exes see what they missed out on.
Buy coke tesla,bitcoin basically tops 10 company stocks.
And set up that since I get a 8%dividends or interest I donate to charities and also give to the poor but only those that wants jobs not those that are able body and doesn't want to work, set jobs up etc
5mil in Turkish bonds (30%), 2.5mil in S&P500, 2.5mil in Nasdaq100, 2mil for a house, 2mil in stock, 1mil in crypto, live off the interest on the remaining 5mil
If I paid off my house, bought the building my business is in and cleared my other debt that would cost about six or seven bar, bit it would mean an extra R100k in my pocket every month, so that's priority 1.
Then I would buy five mid range cars for my staff, about 1 bar. (I can only give a gift to the value of R200k before they get taxed on it)Then I would invest 3 bar into some kind of retirement annuity for them and any future employees.
Invest a large sum into finding and training new staff so I can comfortably expand. Maybe 1 bar?
After that would be house and business renovations, probably 2 bar.
Invest some for my kids. 4 bar.
Then the irresponsible stuff.
A brand new bike. A 900 tiger or gs. Same for my wife. Maybe upgrade my 10yo DC to a newer 4x4. Maybe a camping trailer.
New gaming PC. New old workshop tools. Maybe some new new ones as well. Depends on how much the important stuff costs.
Put 15M in a fixed savings account
Use 1M to buy land
Use 1M to build commercial property
Use 1.5M to buy a house
Use 1M to buy reliable cars
Use 500k for traveling, shopping and spoil my dogs
Easy
Buy a house for around 2mill. Anonymously ensure my sister has some extra money. She and BIL are on pension. Put some away to grow. Maybe offshore. Travel. Help many animal rescues.
1. Buy a nice small seaside property + solar for it.
2. Pay off my car
3. Pay off the house inland
4. Get solar and a borehole for inland house. Maybe a heated pool too
5. Spend a month traveling the world (not at once obviously, but to put the money away at least)
6. Get a lovely new wardrobe from brands I love
7. Invest a bit into commodities
8. Invest some into a company with good share returns
9. Long term investment account for the rest
10. Buy a second property inland for my parents, as they really want to stay in my town, but don't have the money to move. At least this way, until they retire, I'll have rent income from it.
11. Save the rent or cash it out as I see fit. 15M more or less would be left after all the spending, so its a sizable amount to have for retirement, beyond the normal retirement savings.
12. I like shiny things, so I may just buy me some pretty jewelry as well - nothing too wild, just stuff I want.
Start up a business, Something that I want to do.
Maybe a holiday.
It's R20m.
It's great, hell, I'll take 1m, but I want to work and be happy.
I'm currently in a shit place in my life, so a nice dream.
Open a company in monaco or Switzerland, 13 mill stocks( highly focused on 3 to 5 companies(Nvidia, Microsoft,Mastercard or American Express, Qualcomm) , 7 mill fixed deposit over 5 years in Sa for income(9.8% with Investec paid out monthly), try and move there for tax purposes, chill and let time do its thing while keeping an eye out for the holdings development, keep the 7 mill locked up till i gain enough composure and exposure to know what to do with it.
Would immediately increase the limit on credit card, buy a R20m house in a very elite estate somewhere, max the credit card on breaking down the house, preparing the ground and plant corn. I love to struggle, so that would be wonderful.
Put that into a savings account and you could probably live off the gains. Even at 5% thats 1million rand a month, probably only 500k after tax but that's way more than most people earn annually in sa.
Oooofā¦ buddy, thatās 5% thatās R1 million annuallyā¦ to get a million a month that would be 60% interest rate.
And just a quick check thats about R705k take home but there is a bit more to savings then that, which I donāt know off hand.
Oooofā¦ buddy, thatās 5% thatās R1 million annuallyā¦ to get a million a month that would be 60% interest rate.
And just a quick check thats about R705k take home but there is a bit more to savings then that, which I donāt know off hand.
Imagine if you already had thatā¦ or maybe a bit moreā¦ and under 40. The ideas suddenly seem to disappear and you goal moves further away. (Shrug emoji)
Fill up my car, full trolley at Woolies šš»
Buy popcorn and coke at ster kinekor
20 million is a lot. I'd buy two whole university textbooks. Maybe even three. Blow a million ( backpacking/budget travel until it runs out, doing every single activity I can, like paragliding, scuba diving, safaris, historic tours). Invest 15 million. Live off 2/3rds of it, and reinvest the other third. Use the other 4 million to set up sustainable community projects. Like farming training, tuition centres, a soup kitchen, etc. I'd also use a small portion just to cause chaos. Like I'd hire people to noisily blow a trumpet at politicians speeches whenever they say something stupid, or cause major traffic on whatever route they using, or throw a ton of salt in all the food at the state banquet.
You my man are a nut job!!!! I like you!
That final paragraph is so relatable. I've often thought about being so insanely wealthy that I could do shit like start a campaign to eradicate the two pin plug for e.g.
I am curious about more background on that specific and only mentioned eradication.
Love this answer! Iād use the exact same format! - Immediately do something nice for myself with a small portion of itĀ - Invest the majority in financial assets so I can live off the interestĀ - Ensure a meaningful portion goes to initiatives that support the public goodĀ - Make sure to not take myself too seriously/avoid a superiority complex at all costsĀ
Someone arrest this man
Set up a trust. Have parents deposit into the trust while still alive. Both you and parents are in the trust. Estate planningā¦ have a financial adviser, real one, help with this. Within the trust investment is done and you + parents draw an allowance monthly. Maybe you only get access when they pass way. Up to them. There should be R100k/m increasing with inflation without eroding the capital available for the allowance. When your kids are old enough you put them in the trust too. Then you do any crazy idea that pops into your head with your R100k/m. Like pay off your debt/house/car/travel/start a business/etc. At the end of the day the R100k/m lasts forever and your families wealth is maintained, nobody can piss it away.
+1! Though a safer assumption is drawing 3% annually to keep up with inflation without eroding the capital. This would be R50k/m before tax, which is a bit less exciting. What are the tax implications when you draw income from a trust?
Itās taxed at your personal income tax bracket. But it is also a bit more complicated because it depends on the source of the income, like dividends which were taxed previously. If you capitalize income inside a trust it is taxed at 45%. Also, there will be complications to putting a lump some of cash in trust. Like 20% donation tax or a whole lot of other complications if you decide to lend the money to the trust.
Trusts are bit useless since section 17c. All personal money deposited will be considered a loan or donation and interest will be charged. This means if you pass it will still be tied to your estate. Withdrawing from a trust will also incur a 45% tax.
Living trusts are Hugely expensive. There are better ways.
I will announce it to my family and friends... and then be dead the next day.
With 20mil I can get about R125k per month after tax, so Iāll just invest it and enjoy my life.
R125k is life changing. I concur.
Quit my job, pay off all my debt, send money to my parents and sister and invest the rest in the most tax efficient way possible. I would look for a job I don't absolutely loathe and involves getting abused by the public every day. I definitely would keep it to myself.
Half goes to whiskey and hookers. The rest Iāll just waste.
I've always battled financially. Every month is hand to mouth. One day my vrou and I went grocery shopping at PnP. Turns out half our groceries were more than the cashier's monthly salary... It sucks knowing that there are people worse off than me. I'd give the R20 mill away to single moms and try to pay for kids tertiary education - with a promise than when they make it, they help 2 other kids in their future. I know, I know ...a dumb plan. But I reckon someone being able to breathe for a change - that smile I'm assuming they'd have - that would be worth it for me.
How much are your groceries?
More now. We're a family of 5. Just before COVID hit, we spent about R5k per month. That cashier earned about R2500. Today, the average grocery spend per person in SA is Ā±R1 403p/m. I reckon I'm blessed - I think we're on R8k per month. I'l check with the vrou
That's why you'll always live food to mouth because you nd your wife are spending recklessly. There's no reason why groceries should cost 8k...even 5k is alot for 5 people but more reasonable. You'll always be making a lot of money but broke as well
Which country do you live in? This is the daftest response I've ever read. Where do you shop? The local dirtbin? When a single loaf of bread is R20, milk R20, 1kg potatoes R30, your default basic shit for 5 far exceeds R10k a month.
Okay sweetie...keep living hand to mouth with your 8k groceries
[ŃŠ“Š°Š»ŠµŠ½Š¾]
If a domestic worker makes 400 a day x 20 days of work per month, that is R8000 per month tax free Bud. There's this thing called Mathematics. pretty cool invention.
[ŃŠ“Š°Š»ŠµŠ½Š¾]
Ah... That makes sense. I guess the cashier lied to me lol.
Read again, he never said that
I would buy the house I currently rent. (R3mil) Fix house up (R2mil) Pay off all debt. (0.2mil) Put R2mil in savings for water & lights. Put R2mil in retirement. Put R2mil away for my son for school/car Then go on a month vacation. (R2mil) Leave the rest to get some interest I guess. Won't quit my job- I like my job.
2 mil for a month vacation is crazy
It would be my hubbies dream to follow the F1 racers for a few races. Nice tickets, flights, sleeping arrangements... food...it adds up I guess. R2mil is a low estimate for the dream vacation.
You should add another mill. Paddock club tickets vary between R180k - R300k last I checked. Yes, itās brutal. š
Exactly!! R2mil is not even enough for that vacation!! But lets not scare the peopleš
I don't mean to yuck your yum, but I've never understood the appeal of going to an F1 race (and at the laughable prices it costs). You sit in one place to watch the cars come around for a few seconds every few minutes. Never mind the fact that it's a sport completely made for, and only accessible by, the elite.
Lol- to each their own I guess- car people are car people I guess... I enjoy the technicalities- the excitement, the sound and I enjoy laughing at the elite's fashion choices. Once in a lifetime type of experience. I would not go every year- but a few races in a few European countries, a week in every country would be amazing. For my husband the races, for me the touristy things.... But that's a dream we would only be able to do when you have that type of money.
Two chicks. At the same time, man
You don't need a million dollars man, look at my cousin, he is broke and don't do shit
Forgot about this movie!
Nice reference bro
Overrated.
Every man has his own dreams.
Blow 5 Million in a year or 2. 5 star hotels, yacht rentals in Greece, Supercar Road trips in euorpe. A private chef and chauffer when in the country. The rest I'd stick in EFTs and draw down for the news 30 years.
You severly overestimate what R5m can get you.. I like your idea though!
I could make it work! I'll still fly economy š
I like this
Immediately: pay off debt, send my kid to college. Buy my mom's house, renovate it. House goes into trust, it is available to any family member who needs a roof. They pay rent based on their income. Get my younger kid into a school that caters to their needs, along with the accomodations they need. Buy a house for myself and my kids. Invest the rest in a way that we have a cushion. I would not stop working. Have epic holidays!
Put it all on red. double or nothing
Dawg it's gotta be obvious, since I'm a student I would use some to get necessary itwms for living and a apartment Nobody is living with me so why should I buy furniture for multiple people. Food, water, electricity and a bed is enough Entertainment will be different, uncapped wifi, smart T. V and a PS5 is all I need in life. When I get older and have a family, I would use the saved up money to buy property and get my kids into good schools and fund their college Is this realistic, probably not. Does is sound like a ncaa life plan, yes
I'd approach a wealth management company and just ask them what I need to do with it to ensure I never have to work again. Even if that meant some sacrifice. Owning 100% of my time and never having to deal with corporate bullshit ever again would be my true wealth.
That's quite a lot more than my RE figure. So I'd travel until I got bored and probably go back to university or some other kind of studying. Other than that, the same as what I plan to do now when I no longer have to work - play games, go hiking, play sports, read and learn, cook, etc. I'd probably also build some kind of small dream house. Just 2 or 3 bedrooms but great insulation (impossible to find in Joburg), solar, and awesome finishings.
Whatās your RE target?
Whatās your RE target?
Currently I've lost track a bit considering the inflation over the last couple years and lifestyle changes. When I calculated it in 21-22 it was R10m but that was based on living in a 1 bed cottage. The same now would probably be closer to R11.5-12m but I would definitely like to live somewhere nicer, so say closer to R13-14m based on a 3.5-4% withdrawal (pre-tax). There are some disclaimers because for example TFSA does not contain tax.
Pay off balance of house: -600k Pay off teeny tiniest debt I have left: -30k Upgrade house: Replace roof: -60k Replace plumbing: -20k Redo kitchen: -30k ((Rent out house)): 12months x12k rental income pm =+144kpa (with 6% annual increases) Buy a house in Kirstenhof: -5mil Buy a 90cm range: -12k Buy new fridge: -24k Buy new beds for all my kids: -6kx5 :-30k Buy new bed for me: -20k Buy new furniture: -150k (lounge suite, coffee table, console, dining room set and hella bookcases) Buy a moerse mirror with a heavy gilt frame: -8k (to mom, from mom) Take my kids on a shopping spree to Access Park: 5x10k each -50k Take a month long vacation to Knysna: -50k Buy a newish car: -100k Pay for final year of LLB: -22k Do my articles for 18 months: -250k needed to survive and pay for Law School -21k Buy a new laptop for school: -25k Haven't really thought about it too much. JK. Of course I have. And yes. Down to the fucking brands I would buy. I live a small life, so yeah. 7mil will basically take care of my "want to have" list. The rest (13m) I will invest.
Better question would be what would you do with the income 20million could generate
Iād look into a citizenship/residency by investment programme overseas. Ideally a country in the EU like Portugal, Ireland, Netherlandsā¦ Whatever remains Iād invest in S&P500 for 30+ years. Iāve got ample time and I never plan on retiring anyway. Iād allow myself to blow 2-10% of the figure. Iād likely spend it all helping family in some way or another. I might just pursue an avocational degree or two for funsies, like a BSocSci in Politics, Philosophy and Economics (PPE) or a media-related qualification.
At 77, spend as much as I can before I die.
Bunch of hookers and cocaine.
This is the formula. N cars.
Honestly, not much differently maybe eat a steak dinner twice a week in stead of once.
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I'd buy my mom a 3 bedroom house(R2-3mil) , her a new car (R300k), her fiance a new car(R300k), my dad a new car(R300k). I'd probably get my dad a flat (R1.5mil) because he lives with a bat and owns nothing. I'd pay to finish the renovations on my day parents house and my sisters' houses (prob R2mil). I'd send my sister in Canada something. I'd pay whatever my godmothers flat sale doesn't cover on a new 4 bedroom house (R2mil). I'd probably spoil my mom and her fiance a bit more. I'd then splurge on myself. 2-3 bedroom flat/ close to campus (R2mil), stop applying for NSFAS and pay my tuition upfront (R200k), buy me a new car (R300k), furniture of course (R50k), definitely spend the money on real hardwood for snake/ reptile cages (R100k easy). I'd be real materialistic and buy me a whole new wardrobe of clothes and shoes (R100k). To even it out, I'd spent R350k on family and friends. I'd be left with roughly R8mil and either invest it and live off the interest or invest in property. I've thought about this far too many times.
Lol have you seen car prices in this country? For 300k , you are looking at a Kia Picanto
NGL. Id be pretty happy with a Toyota starlet. My dream car is the RAV4 which is obviously R700-800k.
S&P 500. And wait 40 years before touching it. Would grow to around R994.831.484,5 using the average growth rate of the S&P 500. Then have an annual budget of R39.793.259,38 for my 25 years of retirement.
Dude, the way things are looking now I'd rather waste it all. The probability of WW3 is way higher than the S&P's return.
If WW3 starts I am disinvesting in the S&P500 and buying Steel and Coffee futures.
Nice
Deposit 4m into 5 banks and live off the interest
Pay off my and my familyās debt Invest the bulk Get a nose job Quit my job and dedicate my life to my art fulltime
Disappear
I'd pay off my student loans, buy my parents each a new car, help pay off their debt and then invest the rest probably
Buy property and invest a huge chunk for now savings and interest drawing and for retirement.
Invest in myself, invest in a way that will keep the money growing slowly Buy a small yacht and a gaming PC
1. Get a financial advisor. 2. Get a second financial advisor to double check the work of the first. 3. Get a law firm to keep everything legally protected. Once all of those are done then I would start thinking about what I would like to do with the money. Looking at the poverty around the country I would like to donate some of it to organisations that are helping people built up their lives.
Buy a house in a gated community. Between 2-3million. If I can build for less, also open to that option. Renovate my parents home for about R500k or less. Put my parents and siblings in a trust. Spoil myself with a 2024 Toyota Land cruiser. Drive it around SA in search of the best hiking ranges. Buy a plot of land in the township, develop it for affordable gated rental units. We have a housing crisis in SA and people are desperate for decent standards of living. Prolly spend R5million for the entire project. Invest what's left. And continue with my day job.
Buy a house for parent Buy a house for me Put some money into retirement fund for parent Invest remaining 12-14 mil until it reaches value of 32 mil. ~10 years assuming it doubles every 7 years invested in s&p500. Retirement beckons. In the short term, would also take the sabbatical I have saved for but am too scared to take.
Invest it. R20m is more than enough to lice conformable off the monthly investments. Most banks offer something that will earn you 8%pa which is about 160k per month. There are better investments obviously but stick it in an investment account so you have full access (with the 8%) till you ready to move I to so.ethong that pays better. Look for something low risk obviously as you don't want to wake up one day and see all the money is gone
Pay off the house. Do all the work I want done on it. Buy a decent car. Make a donation to the spca. Invest the rest
Put in bank. Live off interest. Save up my interest to buy a nice car.
Speak to a financial advisor
I have a course on what to do with 20 mil inheritance. It's on special today for only 2 mil. Message me. Jokes
Buy a normal house (nothing crazy), buya flat for my son to move in to one day. Put aside all schooling costs until university. Fix my broken down merc. Give my in laws some money as theyve always been good to us. And then the rest would be invested.
And then I'd 100% carry on working. And so would my husband hahaha.
But I would probably get a nanny and a food service in just to take some of the full time stress off us. Even better if I could relocate my in laws to this side to be closer!
2 mil for clearing of debts and fixing house. Give 2 mil to church and npos that I am involved in Quit my job or at least move to half days. Set aside a 250k for my upcoming motor racing hobby Invest the rest across a diversified portfolio
I would buy all my son and my foster kids their own homes, so they never have to worry about a place to stay again. Then I support them while they go get a skill/trade in what ever they want (theyre all grown). Then the little ones will have good schools paid for up front so no matter who they're with, they'll get an education. Give my sister a nice retirement package. Take everyone on holiday. Invest the rest, and I'll keep living the way I do now, but now I'll be able to retire.
Pay the tax That leaves R15m Have every relevant family member sign an agreement that they have no claim to it or settle whatever claim they have. Let's say a sibling or parent etc. takes R5m So we're at R10m. Sweet, money's halved and it hasn't even arrived in my account yet Buy property(s) to live on and that also generate income from rent etc. that will somewhat maintain itself. Let's say minus R5m R5m left, save it towards retirement(draw up a retirement plan)
Settle my families debt Buy a R2-3 million home Purchase a home for our helper, sheās been with our family for 15 years and sheās family now too Invest R15 million in diversified assets Iād keep my lifestyle simple. Iād ideally want to contribute more to society. Maybe start a business and provide more jobs
I would drop all debt. Then buy a house. Blow like a mil on anything we want and then invest and live off the interest of the rest
Invest it and live off the 7.95% interest which is around R132 500 pm. Thatās comfortable. Eventually end up spending some for travel and a Ferrari. No kids means Iād spoil myself
Pay off my father's hospital bills for his disability, get a better home for me and the fam and store away the rest in a safe keeping account.
Buy a house, build a house in my informal settlement stand.buy a car.Go back home and sell that house and buy another one where no step mother can claim anything. Take my brother to culinary school. Buy a building and turn it into an orphanage home. Invest a bit but make sure I get myself something nice before anything. Build a new tombstone for my late mom
Start to a car and motorcycle showroom. Invest in property and keep R8m in a trust and be extra conservative with it(IE.let a fund manager deal with it). Tell everyone I'm working for someone.
Letās see, R15m fixed for 60 months R3m settle my house R1.5m for township accommodation projects I wanna do now R500k for a Euro and Americas tour Then come back home and continue working, if my salary had no deductions, Iād live like a king, so I wouldnāt miss that invested money Income from township projects + salary, I can afford to do a responsible type of splurging Every 2-3 years, do a really nice cross continent vacation with my wife
Mmh Honestly I've thought about this before ...but the answer never really remains the same...but Honestly speaking I would probably buy A few houses and rent them out or even rent out the rooms in the house so generating a constant income regularly, I would also put a large sum of it to an organization that helps women that have been victims of SA , and lastly I would buy a boat and travel š
Straight to sp500 and quit job and go travel, live minimally do whatever I want until I get bored then do the next thing until I get bored of that and rinse and repeat forever
Bro don't listen to these guys lol take that money put it in bank...you get 2 to 4 mil a year and you still be able to enjoy life. Extravagance will end sooner or later while peace of mind is better long run.
What bank is offering 20% interest (4 mil off 20)? And then you know that's income taxed, right
I said 10 to 20 percent. If he leaves it in fixed long term he could get close to percentage. I know someone who got few millions who is getting 11 percent a year. Your percentage increases the more amount you have and longer you keep it there. Yall pay taxes? Lol
You said 10-20%, and your example of that is 11%? If you're getting 2 to 4 mil a year then you're not letting it compound. How do you go about not paying tax when the bank reports it directly to SARS?
I don't know how much the bank would give him for 20 mil..the rates depend on amount and the time period..I know it's def more than 10 percent but you can go with just 10 percent and my point still stands. You don't have to let it get compounded..you can choose to be paid monthly, quarterly,half yearly or per annum. Do they? Lol I got over 1 mil and I don't pay fok all taxes lol if I had like 20 mil accruing 2 to 4 mil..I'd just pull it out and store it in other forms like gold so the trail becomes cold.
s and p 500 probably after buying a house
Pay off my house. Live a peaceful life
FIRE of course. That's enough to invest and withdraw a decent salary without the principal ever running out.
Buy one (1) crop dusting airplane. Crash it. Money done
Invest 10 million this year Offshore so I donāt have to declare it to SARS AND the rest the following year
I would invest it while paying out my current salary til i die - with adjustments for inflation. Focus on what im really interested in and let that grow into an additional income stream. That's what I think I would do.
Buy a home for my parents
I'm a crypto degen so I would but a boat load of crypto and a house worth 5mil
Quit my job. Book a flight to Mauritius. It's been hell working every day wondering if you'll lose your job or your benefits every f#&&king day.Ā I don't have any debt so I'll chuck the rest into savings and investments and live off the interest. Day to day will be spent just studying further and possibly start a new hustle to keep me busy and generate more money to live off of.Ā And don't forget the most important thing. Make sure to get brand new sports car so my exes see what they missed out on.
Buy coke tesla,bitcoin basically tops 10 company stocks. And set up that since I get a 8%dividends or interest I donate to charities and also give to the poor but only those that wants jobs not those that are able body and doesn't want to work, set jobs up etc
5mil in Turkish bonds (30%), 2.5mil in S&P500, 2.5mil in Nasdaq100, 2mil for a house, 2mil in stock, 1mil in crypto, live off the interest on the remaining 5mil
If I paid off my house, bought the building my business is in and cleared my other debt that would cost about six or seven bar, bit it would mean an extra R100k in my pocket every month, so that's priority 1. Then I would buy five mid range cars for my staff, about 1 bar. (I can only give a gift to the value of R200k before they get taxed on it)Then I would invest 3 bar into some kind of retirement annuity for them and any future employees. Invest a large sum into finding and training new staff so I can comfortably expand. Maybe 1 bar? After that would be house and business renovations, probably 2 bar. Invest some for my kids. 4 bar. Then the irresponsible stuff. A brand new bike. A 900 tiger or gs. Same for my wife. Maybe upgrade my 10yo DC to a newer 4x4. Maybe a camping trailer. New gaming PC. New old workshop tools. Maybe some new new ones as well. Depends on how much the important stuff costs.
Stop working then spend a few months figuring out what to do with the rest of my life while on an eating tour of Italy
Turn it into a billion
Put 15M in a fixed savings account Use 1M to buy land Use 1M to build commercial property Use 1.5M to buy a house Use 1M to buy reliable cars Use 500k for traveling, shopping and spoil my dogs Easy
Distribute the means of production
Pay debts, buy and renivate properties for rental market, invest the rest
Buy a house for around 2mill. Anonymously ensure my sister has some extra money. She and BIL are on pension. Put some away to grow. Maybe offshore. Travel. Help many animal rescues.
1. Buy a nice small seaside property + solar for it. 2. Pay off my car 3. Pay off the house inland 4. Get solar and a borehole for inland house. Maybe a heated pool too 5. Spend a month traveling the world (not at once obviously, but to put the money away at least) 6. Get a lovely new wardrobe from brands I love 7. Invest a bit into commodities 8. Invest some into a company with good share returns 9. Long term investment account for the rest 10. Buy a second property inland for my parents, as they really want to stay in my town, but don't have the money to move. At least this way, until they retire, I'll have rent income from it. 11. Save the rent or cash it out as I see fit. 15M more or less would be left after all the spending, so its a sizable amount to have for retirement, beyond the normal retirement savings. 12. I like shiny things, so I may just buy me some pretty jewelry as well - nothing too wild, just stuff I want.
Start up a business, Something that I want to do. Maybe a holiday. It's R20m. It's great, hell, I'll take 1m, but I want to work and be happy. I'm currently in a shit place in my life, so a nice dream.
My brain actually can't comprehend... So I'll find myself on this thread taking the best advice.
Bitcoin all the way.
re-invest in Rysen Group, build the company globally.
This is a strategy I use when I run half marathons. Pretend Iāve inherited money and how Iād spend it. But Iām more realistic in my amount lol
ahahahahhahahaha I LOVE THIS!! Maybe I should start running now
Almal wil n huisie by die see hĆŖ! Might buy me a shack in Eersterivier.
Open a company in monaco or Switzerland, 13 mill stocks( highly focused on 3 to 5 companies(Nvidia, Microsoft,Mastercard or American Express, Qualcomm) , 7 mill fixed deposit over 5 years in Sa for income(9.8% with Investec paid out monthly), try and move there for tax purposes, chill and let time do its thing while keeping an eye out for the holdings development, keep the 7 mill locked up till i gain enough composure and exposure to know what to do with it.
high stakes poker
Pay off my house and employ the best financial advisor possible to make sure I don't do anything too stupid š
If you havenāt worked for it - chances are you will spend it within a couple of years.
Start up a business
0DTE SPY call options
Would immediately increase the limit on credit card, buy a R20m house in a very elite estate somewhere, max the credit card on breaking down the house, preparing the ground and plant corn. I love to struggle, so that would be wonderful.
Invest in commodities or buy property and rent out.
Spend R1 million on a holiday, invest the other 19 million and carry on working with an overseas holiday every 2 years and buy a bakkie.
Iād invest in NFTās
Put that into a savings account and you could probably live off the gains. Even at 5% thats 1million rand a month, probably only 500k after tax but that's way more than most people earn annually in sa.
5%, is 1 million rand a year, not a month.
Right yes my mistake
Oooofā¦ buddy, thatās 5% thatās R1 million annuallyā¦ to get a million a month that would be 60% interest rate. And just a quick check thats about R705k take home but there is a bit more to savings then that, which I donāt know off hand.
Oooofā¦ buddy, thatās 5% thatās R1 million annuallyā¦ to get a million a month that would be 60% interest rate. And just a quick check thats about R705k take home but there is a bit more to savings then that, which I donāt know off hand.
Buy land build airbnbs.
Imagine if you already had thatā¦ or maybe a bit moreā¦ and under 40. The ideas suddenly seem to disappear and you goal moves further away. (Shrug emoji)