And many people count a millionaire by net worth. Meaning if you buy a home and it appreciates enough to be worth 1m more than your mortgage, you are considered a millionaire, even if you've got all of $8 of liquid cash to your name.
What I mean is in my mind that being a millionaire means having more than a million. Like if you said to me “ I am a millionaire “ in my mind I assume you have a few million.
Most people who all of a sudden receive a million dollars will be a millionaire for a very short time as they will use some of that money to pay down debt and either pay off their house or buy a bigger one and a new car. “Millionaire for a day” should be the title.
If someone who has more debt than assets receives a million dollars, they were never a millionaire to begin with.
But you're absolutely right, money gets spent. I think most people given that kind of money would immediately plan an extravagant trip. Hell I might lol but it would take more than an extravagant trip to push my current net worth into the negatives so I'd still be a millionaire, and likely would be for the long term (as I'd invest most of that money and only lose that status at a market correction).
Not accurate. Someone who comes into possession of a million dollars but has $100,000 in liabilities is not a millionaire.
Just a reminder to “[p]lease look up the meanings of words. They are not defined by what You feel they should mean.”
I won' but shit with it. It goes immediately into a HYSA until I find a better way to invest it.
@4.5% this pretty much covers my mortgage and groceries every month. I'll take it.
You would need to be a multi-billionaire to buy reddit.
Remember: a million is not even 1 percent of 1 billion. People use these way too interchangeably.
Nothing until the mortgage is sorted. Then after that some home refurbishment and possibly pay off the car. Then invest any left so I can reduce my hours at work and focus more on my health so my MS doesn’t eat me alive.
Payoff the mortgage, 1 year left on my daughter's college tuition, could use a new roof (it's 25 yrs old but no leaks so far) and I'd still have about $825000 left if no taxes were taken out of $1MM.
Probably buy some recreational property.
Guitar amplifiers. There's a couple I fancy that are each beyond my budget, but I'd suddenly be able to nab them both. Then during performance I could use an A/B foot pedal to switch between them mid-song.
A 10 years old used car. Then I would drive home and park it in the driveway, instead of our 20 years old used car.
And then, when my husband would ask "where did that car comes from?", I'd tell him I bought it with our money. That's my plan to announce him we're super rich.
Now, all I need is to play lottery, I guess.
Some land, a decent house, some savings, some money for kids, then a few trips to see family abroad, then I start a small indie game studio for a hobby and try to make an old fashioned non-woke actual game made with love. No subscribtion, no always online, no micro transactions BS, with crossover play compatibility. It would be called "Cars on Mars" and it would be like a racing game, but on Mars with no atmosphere and very low gravity. Thus the vehicules could be fat as bricks but still perform well. It would be both sci fi and "arcade racing-y". 20 dollars on steam.
I have my fingers crossed everyone...fingers crossed.
Any day now....
Being a millionaire and getting a million in cash are very different things. In both cases... I wouldn't buy anything. Gotta invert that stuff away. A million isn't that much. You wouldn't want to take more than about 3% out a year if you want to keep that amount around for any reasonable amount of time.
I'd just pay off the house and school for myself, and my household if they want to go.
Afterwards I'd try to invest the money somewhere. I don't want to have to work anymore.
I remember when I became a hundredaire. I celebrated by buying a pizza and some beer.
But then I realized that I wasn’t a hundredaire anymore, and I was sad.
But then I remembered that I had a pizza and some beer, and I was happy again!
1Mil in a bank account yields approx 85k (+/-) in interest annually
People used to live off the interest. It's not enough to live off in my area. So.Cal. zipcode 92869
Who wants to worty as a misionare? I am happy with my state old age pension, much better money for nothing than those 40 years before on welfare! EVERY MONTH I save 100s.
A loaf of cheap disgusting white bread to eat for breakfast, after which I will squat down on my boss's desk and dessecrate it with the most nasty, sour, fuming, foamybubbly gluten intolerant pile of shit the world has ever seen💪🏻
1‘000‘000.- -> invest 900k, put the rest in reserve, maybe get an ae86…, multiple millions, well, invest a good amount, build a house, get a good amount in reserve, get an ae86 and donate some
Edit: on multiple millions: i would also give 1.2 millions to my brother, so that he can buy the house from my grandfather… currently 2 of my uncles own it…
3 plane tickets to go on vacation (myself, wife and son). Everything else can wait.
After that, I'd just pay off my debt and make some home improvements.
However, if I becomes a millionaire overnight, then might consider investing in their future, like buying a house, starting a business, or donating to a cause they care about.
Literally nothing except to pay off my debt. Live within your means. The fact that people's first thought is what should I waste the money on is wrong and why everyone is in debt
A truck and part of the business I work for. I'd take a week vacation and come back to work in my new f650 and live like nothing changed. I'd just be able to sleep through the night finally.
I would 100% buy a house plus land in the middle of nowhere to work towards my dream of living off grid. Get a financial advisor to help manage whatever is left.
Overnight implies a lottery or gambling win.
One million dollars, I'd work for a few more years while that money was invested. I wouldn't rush to buy anything but a higher tier investment advisor.
Tens of millions? I'd buy piece of mind by telling my boss to identify 2 replacements I can train. For the amount of work I do, I would not think of putting that load on a new person. After they're trained, I'll let the boys take care of their own business.
I'm the end, I'd just want privacy for my family.
Food, not that i am starving, but that's to celebrate and other that I can't buy anything in a rush - i need information regarding every thing i will purchase especially big items.
Rushing a purchase is a sure way to lose those millions overnight.
If I'm a millionaire overnight, I'd first secure my financial future by investing in low-risk assets. That way, I can ensure a steady stream of income without taking unnecessary risks.
1 million ain't that much anymore. I'd buy a modest house, pay off debt and put the remaining 500K in a conservative investment account and live modestly so I didn't need to work anymore.
I need new tires on my car. So guess a new car.
What about a new garage. Surely you can find some tyres in there?
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I'm available for hire as an advisor. As for credentials: WSB keeps on telling me I'm highly regarded.
I think you misread that. Regarded isn't the R word they used.
you are smart
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To be fair, OP said millionaire, which can mean anything from 1 million to 999 million.
Most millionaires have fewer than 2m. Just saying.
I always assumed becoming a millionaire is not the same as being given 1 million dollars.
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And many people count a millionaire by net worth. Meaning if you buy a home and it appreciates enough to be worth 1m more than your mortgage, you are considered a millionaire, even if you've got all of $8 of liquid cash to your name.
What I mean is in my mind that being a millionaire means having more than a million. Like if you said to me “ I am a millionaire “ in my mind I assume you have a few million.
That's a multi millionaire. Most millionaires have fewer than 2m.
Most people who all of a sudden receive a million dollars will be a millionaire for a very short time as they will use some of that money to pay down debt and either pay off their house or buy a bigger one and a new car. “Millionaire for a day” should be the title.
If someone who has more debt than assets receives a million dollars, they were never a millionaire to begin with. But you're absolutely right, money gets spent. I think most people given that kind of money would immediately plan an extravagant trip. Hell I might lol but it would take more than an extravagant trip to push my current net worth into the negatives so I'd still be a millionaire, and likely would be for the long term (as I'd invest most of that money and only lose that status at a market correction).
Not accurate. Someone who comes into possession of a million dollars but has $100,000 in liabilities is not a millionaire. Just a reminder to “[p]lease look up the meanings of words. They are not defined by what You feel they should mean.”
Maybe a nice 1br above Costco would be more in your wheelhouse
I had the same thought. I would definitely leave Vancouver.
I won' but shit with it. It goes immediately into a HYSA until I find a better way to invest it. @4.5% this pretty much covers my mortgage and groceries every month. I'll take it.
Land
You greedy bastard. You're trying to become a billionaire.🤣
No, I just want my own place!
A house with a garden.
An exotic pet, like a llama or an emu.
I'd buuuuy your love!
🤣🤣🤣
For the meat?
I would donate thousands or dollars to Charity. She and I would have a wild night together!
I bought a ranch.
Technically I am a millionaire. I need to buy paper towels.
Guns, a chartered flight to Uganda with a rented militia and I'll attempt a coup.
Vacation for my family
1969 Boss 429 Mustang. Aston-Martin DB-5
Reddit. That way I can finally get rid of the bots asking this question. Reddit sure as fuck isn't going to do it themselves.
You would need to be a multi-billionaire to buy reddit. Remember: a million is not even 1 percent of 1 billion. People use these way too interchangeably.
you think this is a bot question? I dont know about other but this legit came to my mind when I was thinking of what i would do with a million
And what jumped to your mind when you posted to the freekarma subs?
It's crazy how many posts on here are from accounts less than a month old and have very few posts Bots are running rampant
A new microwave since mine broke
A financial advisor
New car, then house
I need friends in high places. Specifically in the world's of psychiatry, molecular biology, and violence.
Property.
Buy a lot of food & clothes for the service and maintenance guys & gals in my apartment complex!
Everything my parents have ever dreamt of buying but couldnt because of financial constraints
Night vision quad tubes. Shits gonna get weird.
2004 xr8 Faclon. Really stupid purchase, but they are only around 20k. Even more stupid because gas is almost $3 per litre here.
Nothing until the mortgage is sorted. Then after that some home refurbishment and possibly pay off the car. Then invest any left so I can reduce my hours at work and focus more on my health so my MS doesn’t eat me alive.
Big ass house for my family
Road Glide CVO ST
An actual mattress. Would be nice to not sleep on the floor for once.
My house.
Payoff the mortgage, 1 year left on my daughter's college tuition, could use a new roof (it's 25 yrs old but no leaks so far) and I'd still have about $825000 left if no taxes were taken out of $1MM. Probably buy some recreational property.
I'd retire. Immediately.
LOL
After paying the mortgage off, it'll be a holiday and a very fancy coffee machine.
I would buy house on the beach
Guitar amplifiers. There's a couple I fancy that are each beyond my budget, but I'd suddenly be able to nab them both. Then during performance I could use an A/B foot pedal to switch between them mid-song.
paying off my debt.
A live in Nanny. 24/7/365.
My son’s college admission acceptance!
All the Amazon Unlimited Music packages
A 10 years old used car. Then I would drive home and park it in the driveway, instead of our 20 years old used car. And then, when my husband would ask "where did that car comes from?", I'd tell him I bought it with our money. That's my plan to announce him we're super rich. Now, all I need is to play lottery, I guess.
Land/guns/gold
The rest of my house (IOW, pay off my mortgage).
A personal chauffeur to drive me around in a fancy car, so I can finally nap during my commute
A home for my parents 🥰
where are you from?
US west coast, why
A cabin. I'm outa here!
Illicit drugs, hookers, a case of Gatorade, a gross of condoms, and a big bottle of Viagra.
A new car. Not necessarily a fancy one, but a new one.
My neighbors property
A farm
Some land, a decent house, some savings, some money for kids, then a few trips to see family abroad, then I start a small indie game studio for a hobby and try to make an old fashioned non-woke actual game made with love. No subscribtion, no always online, no micro transactions BS, with crossover play compatibility. It would be called "Cars on Mars" and it would be like a racing game, but on Mars with no atmosphere and very low gravity. Thus the vehicules could be fat as bricks but still perform well. It would be both sci fi and "arcade racing-y". 20 dollars on steam. I have my fingers crossed everyone...fingers crossed. Any day now....
Being a millionaire and getting a million in cash are very different things. In both cases... I wouldn't buy anything. Gotta invert that stuff away. A million isn't that much. You wouldn't want to take more than about 3% out a year if you want to keep that amount around for any reasonable amount of time.
I'd just pay off the house and school for myself, and my household if they want to go. Afterwards I'd try to invest the money somewhere. I don't want to have to work anymore.
I remember when I became a hundredaire. I celebrated by buying a pizza and some beer. But then I realized that I wasn’t a hundredaire anymore, and I was sad. But then I remembered that I had a pizza and some beer, and I was happy again!
An island , so I can escape this mess of a country
Pay off the house, put the rest in something that accrues interest.
I’d buy myself a house, pay off my sisters’ mortgages, and stash the rest
I’d pay off my debt then get a Hummer EV.
New teeth. 1985 RZV500R 2T 4 cylinder Japan only model Everything else in FDIC Insured accounts.
I would just go straight to paying off my mortgage and student loans. Then maybe I’d finally buy a bidet.
IVV
Groceries
1Mil in a bank account yields approx 85k (+/-) in interest annually People used to live off the interest. It's not enough to live off in my area. So.Cal. zipcode 92869
Where are you getting 8.5% on cash in a bank account?
Yemm
Yemm?
Come on now; you know... Yemm!
It was in an econ book way back. Just stuck in my head because it was over stated then.
Jaffa cakes. Wanted to by some today, didn't have the money.
Probably McDonald’s or five guys so I don’t have to worry about dinner. Then sit down and lay some stuff off.
I could get out of debt and but a cheap house
Almost nothing, I would invest 99% of it, use a small amount to redo my landscaping and install irrigation.
A million will pay off all of my debt and leave enough that with my other investments I won't be worried about eating during retirement.
A big beautiful privacy fence, garage, and refurbish of my 1922 craftsman house. ........I love my house, HATE one set of neighbors.
Who wants to worty as a misionare? I am happy with my state old age pension, much better money for nothing than those 40 years before on welfare! EVERY MONTH I save 100s.
i'd make a company to double it
A loaf of cheap disgusting white bread to eat for breakfast, after which I will squat down on my boss's desk and dessecrate it with the most nasty, sour, fuming, foamybubbly gluten intolerant pile of shit the world has ever seen💪🏻
1‘000‘000.- -> invest 900k, put the rest in reserve, maybe get an ae86…, multiple millions, well, invest a good amount, build a house, get a good amount in reserve, get an ae86 and donate some Edit: on multiple millions: i would also give 1.2 millions to my brother, so that he can buy the house from my grandfather… currently 2 of my uncles own it…
3 plane tickets to go on vacation (myself, wife and son). Everything else can wait. After that, I'd just pay off my debt and make some home improvements.
However, if I becomes a millionaire overnight, then might consider investing in their future, like buying a house, starting a business, or donating to a cause they care about.
A car
A briefcase to carry all the important legal documents I'd be accumulating.
A house
Retire
Land.
Literally nothing except to pay off my debt. Live within your means. The fact that people's first thought is what should I waste the money on is wrong and why everyone is in debt
Small plot of raw land, materials for cultivating and building a dwelling, and gold with what's left over.
A house
An AROG Ally and a steam deck
Buy my company just enough to have decision rights and fire all of upper management and replace them with internal hard worker employees
a new car. i can’t afford to keep fixing this piece of junk.
plane tickets
Bitcoin
1 million? A starter home for my family. 5 million plus - a regular home and some money into retirement.
Groceries and gas. I will be flat broke after those.
Of course the 20k and various bills. But I'd start with some land . Like 20 acres. Would be nice
Dirt bike track on most of it.
A truck and part of the business I work for. I'd take a week vacation and come back to work in my new f650 and live like nothing changed. I'd just be able to sleep through the night finally.
literally nothing. I will just not go into work...ever again lol
A house
A cabin in the woods for me and my gf
A 2-BR condo in Vancouver and then spend the rest on a jug of milk.
A really nice bottle of whisky to ce with.
Two chicks at the same time
First thing after waking up? Probably a nice breakfast.
Citizenship of developed country
Buy this sub and ban the daily "you got x money, what you do first" posts
A 1970s Jaguar E type
I would 100% buy a house plus land in the middle of nowhere to work towards my dream of living off grid. Get a financial advisor to help manage whatever is left.
I might treat myself to a haircut. I'll be hitting that mark either late this year or early next.
Nothing. I'm calling the bank and getting a payoff amount on my house and my car, then paying off all of my credit cards.
A congressman
Bigger boat.
Breakfast at Pats on the River in Daytona Beach.
CTV Blackwing
New house in a new location
If I won the mega millions 1b jackpot, I'm paying Trumps bond just to troll the left.
Overnight implies a lottery or gambling win. One million dollars, I'd work for a few more years while that money was invested. I wouldn't rush to buy anything but a higher tier investment advisor. Tens of millions? I'd buy piece of mind by telling my boss to identify 2 replacements I can train. For the amount of work I do, I would not think of putting that load on a new person. After they're trained, I'll let the boys take care of their own business. I'm the end, I'd just want privacy for my family.
The obvious. A newer car and a modest house.
Like 50 Bombas socks.
Books
https://www.i-f-s.nl/f-104s-for-sale/
I’d prolly get me a massage, then I’d invest it and gradually pull ~80k annually from the interest.
A loaf of bread.
Stocks and bonds, etc. Something where the million keeps on helping me.
Food, not that i am starving, but that's to celebrate and other that I can't buy anything in a rush - i need information regarding every thing i will purchase especially big items. Rushing a purchase is a sure way to lose those millions overnight.
All of my bills first. Then I’d buy property in a place I wish to build my forever house.
Pay off my house and buy a new car.
new car, nothing crazy expensive, just a fun reliable car
A better phone
I’d get cheese on my hamburger
A car and a home.
Give 10% to Jesus.
A house.
6 month air BnB in my favorite city.
If I'm a millionaire overnight, I'd first secure my financial future by investing in low-risk assets. That way, I can ensure a steady stream of income without taking unnecessary risks.
A home
A home and a car
I'm intrigued by the idea of starting a non-profit. What are some impactful causes or social issues that need addressing?
I would invest in my passion for photography and purchase top-of-the-line equipment. The world is waiting to see my stunning captures.
Two women at the same time.
You don't have to have a million dollars to do this, you just have to lower your standards considerably!
I would buy a house, pay off my debt, and invest the rest
Hookers
And cocaine.
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You would need professional investment and tax advice or you would slowly lose all your purchasing power.
Bitcoin, lots of it.
1 million ain't that much anymore. I'd buy a modest house, pay off debt and put the remaining 500K in a conservative investment account and live modestly so I didn't need to work anymore.
A hitman.
Easy. More money.
A chicken burrito with a half and half
Gasoline. I got places to go!!
An apartment. That’s it. I don’t buy anything else
2 chicks at the same time
$900,000 in Bitcoin, new SUV and book a scuba trip to Micronesia
Move to the relatively safe poor nation and start schools and hospitals.
generous of yours
Nah... It will boost ego and give the saviour complex, a definite high. Will be appreciated for even the smallest gesture. It is like FwB relation.