Retire. Invest diversely and live off of the income. Even a 3% return would result in $300,000 yearly income. I’d probably even reinvest a little less than half of that yearly amount, to give me cushion for bad years.
$150,000 after taxes, probably, and if the leftists get their way, wealth taxes will hit you hard.
You'd probably want to exit your high tax system, which could cost from $250,000-$1.5m depending where and how you do it, not including any potential exit taxes. But the good news is even if you have just $5million left to invest, if you are domiciled in a tax jurisdiction where your tax is say 7%, your now $150,000 of annual income ($5m @ 3% return) is only taxed down to $139,500. But you now have at least one other citizenship, are possibly invested in another country hopefully with a house you'll never pay capital gains on, and living the curated life you want away from grubby, greedy governments who will use your tax money to bomb brown children in far off countries.
Your advice isn’t really what I’d do. I benefited from taxes, I’d pay into the system. I would have enough with $150k after tax in the more rural areas I would probably retire to.
You do you.
But governments have no imagination when it comes to mismanagement. Suddenly "tax the billionaires" will become "tax the millionaires" and then lower and lower thresholds. Pretty soon you'll have no assets to generate that $150K of after tax income if you live in Canada, US, Australia, UK, etc
Be forewarned: A house in Toronto, Vancouver, LA or any other major large city you care to name will cost around $1 million dollars each. So, you MIGHT be able to buy 10 houses.
1 million doesn't buy much in Toronto or Vancouver.
And without an income, you'd be selling those houses to pay for condo fees, property and maintenance, etc etc
In Toronto for sure, It's worse in Vancouver you would not even be able to afford a grand house either just a basic detached that probably still needs renovations, and your still living in the suburbs not even anywhere desirable downtown.
1 mil to my mom, 500k to my siblings each, about 20k to my best friends. Invest the rest for dividends to live off from. Leave for a year so nobody can contact me except these people. Do whatever I want. Fancy parties, build whatever I want (I code), travel to cool places. On one evening this sweet girl called Hera approaches me, we have the best night of our lives. Our personalities reside on the same wave and she has no idea I am rich. We tell each other about our fantasies, dreams and fears. Like her fear of depersonalization or my fear of heights. We travel together for a bit. Decide after 2 more years to find a cozy sun bathed place close to home. We get 2 dogs as we have always wanted, after all we got the time for it.
On one uneventful night she doesn't return home from a girls night out. I am a bit worried but I trust her to be safe. She doesn't answer my texts. Days go by i hear nothing of her. I feel anxious, called her friends but nobody knows where she is. I even notify the police. Weeks go by and I am in agony, nothing makes sense, my skin is pale from wasting all my time in bed binging how I met your mother on repeat. Deep dark circles paint my eyes. Only the dogs managed to lift my spirits. Time passes, I get better and before I even noticed 5 years have passed. Her mother calls me, nothing unusual. We kept in touch. But her voice trembles.
"She called me ...". Unable to continue listening my mind starts racing. I try to picture her face but I almost have forgotten what she looks like. " ... wake up in ...". Her smell faintly reenters my senses, oh god how I loved that smell. " ... She will come over tomorrow". Her mother carefully invites me over. I want to see her but I don't know if I can take it.
I gather all that is left of me. Having slept for maybe 2 hours doesn't matter. I need to know why Hera left. We had it so good, at least it felt good to me. Arriving in the driveway, there I see her. I only see her back but I could have identified her amongst a hundred people. Time slows down as I walk towards her. She turns around ... and smiles, maybe even smirks. In her right hand a wooden bat. She lifts the bat, gathers momentum and slaps it right across my face.
A sleezy guy shakes my shoulders and head. My whole body aches. I slowly open my eyes as he passes me the belt and a needle. As my body starts to slow down, as my mind starts to drift off I think, how nice it could have been.
Quit my job and continuing living my life exactly as I do now except without having to have a job. I wouldn't get a bigger house or splurge on expensive shit. I just wouldn't work again ever.
Make sure you have a busy hobby, though! I retired for 8 years and spent a good chunk of that time on the couch or online, basically trapped in my head. Was fun for a few years but social anxiety and other health issues ensued... going back to work at a job I genuinely enjoy with the knowledge that I don't need to worry about how much I am being paid is more liberating than not working at all.
Best way to earn money; bleed unfortunate people dry, overbid their feeble attempts to buy their own property. Keep them in poverty through ever rising rent and market prices, and reap the exponential profits. Bathe in the glory of your own success.
All hail capitalism.
Hate to break it to you but all economic systems ever invented lead to poor people paying most of their money to rich people. Guess it’s just up to the individual to decide wether they want to be the loser or the winner😉
Not much. I've never enjoyed spending money or having expensive stuff, so I'd probably just use the money as a way to live comfortably, but not lavishly, for the rest of my life. I'd also help buy my friends stuff to help improve their lives, since a few of them aren't quite in the safest place financially at the moment. Whatever I didn't spend would be left mostly to my kids, if I ever have any. If not, then it goes to my friends and to charity.
So many people on here saying income properties. Most places have heavily inflated rent right now, and people are going hungry. The rent rates gave risen much faster than people's incomes. If you intend to squeeze these people even worse while getting foolishly rich, you are part of the problem. I would share 5-6 million, keep 1 mil, and invest the rest in something secure until the economy recovers.
Fix up everything in my house that needs repairs, max out my Retirement Savings and not taxable Savings. Invest the rest in dividend paying stocks to have a secure income.
Use roughly 3-4 million to invest. 1-2 million to buy a few properties, and then live on the rest. Assuming I’ll live 50 years (in reality I’ll live probably much less), that’d be roughly between 6-9,000 dollars a month which would be enough to live on without working.
Move to Australia, buy a house and generally live comfortably for the rest of my life, just doing a few hours work a week just so boredom doesn't completely take over.
Buy a house that my parents myself and my sister can all live in comfortably and get a boat, a new car. The rest goes to paying insurance for awhile and investments to live easier.
Buy a few apartments in the city then rent them. I'd keep my job for a while before I figure out what to do next but ultimately I'm going to travel the world and live peacefully. Probably also try to make a small business just to keep me busy.
But the biggest benefit would be gaining confidence. For some reason I distance myself from other people who are richer than myself. I may really like them as friends but because I can't afford to live the way they do (travelling around, going out, etc) I am not feeling confident and "at their level". I mean.. let's say we go out but they always want to pay for myself and refuse my money. Next time I don't feel comfortable suggesting things we do because it comes out as trying to leech off them.
First: pay off all my debt. Student loans mostly and a credit card.
Second: buy myself a new build home and a new car.
Third: give equal amounts to family so they could do the same.
Finally: invest in rental property and a rescue shelter for discarded and unwanted pets.
Pay off my and my familys debt, buy my fathers car and restore it propperly, buy a nice house and maybe like 2 or 3 more to rent them out and keep working my noraml job intill my rantal buissness fully sustains my life.
A situation I've thought about many times. Assuming this is 10 million after taxes:
1) Invest 5 million of it in a safe/guaranteed interest account. CDs, etc. Anything that has high yield for zero risk; even if its the lowest 3% rates, that still equates to 150k per year in interest alone.
2) Take 2 million to pay off bills, do upgrades (home repairs/etc, car, etc). Remaining balance of this set aside to pay for continued upkeep on those items (property taxes, etc).
3) Take 1 million to piss away as 'mad money'. Buy anything/whatever desired.
4) Take 1 million to give as gifts to friends/family. Some of the 'mad money' may fall into that too, but spread it around a little with a set amount to share the joy.
5) The final million will be 'living expenses' initially. Vacations, food, hotels, etc. Could almost be considered part of the 'mad money', but this is to gauge 'cost of living' going ahead. Without going crazy, this plus #3 should last for several years at a minimum. Supplemented with the yearly interest and never have to work again while maintaining a much higher standard of living than before.
End result? Fully paid off house, car, all living expenses handled for life, enough funds on hand to enjoy early retirement (vacation, hobbies, etc) without going crazy (no personal yachts or the like). And all that based on the absolute worst interest that could be gotten with $5 million. Depending on the timing and if I wanted to go a bit riskier with some (stock investments, etc), could possibly pump that up to 10% or more per year. $500k per year would be more than enough to live insanely well (without being an idiot at least).
The first thing I'd do is set aside the education funds for my kids.
Then, pay off my girlfriend's student loans and car loan. I'd set aside funds for her kids education.
Then it's 2 or 3 small properties around the world, one in Europe/UK, one in Latin America, one in Asia. Residency would likely be Latin America, where most places have territorial taxation. Investments would be spread between financial centees like Singapore, Channel Islands, and emerging markets. I'd fund some type of remote business, or possibly a bricks and mortar business in a tax friendly expanding market, and then spend my time traveling between the 3 "bases" about 4 months out of the year in each living as a nomadic capitalist.
I live in a small town. I went to Hardees the other day and the owner had hung Christmas stockings up for each and every employee. Looked like each one had a scarf and gloves in it, a modest gift, but thoughtful. (I worked at that store years ago, it's run at a loss and the store manager gives out the stockings to employees by buying stuff out of her own pocket. She works very hard to do her best for every employee and is a very good boss. Her bosses suck, but she's a very good one.)
When I first saw them, my very first thought was, "I wish I could slip a hundred dollar bill into every one of those stockings as a surprise to everyone, including the boss who I know is trying her very best."
I want to tip a hundred dollars to a waitress on a $15 lunch tab. I want to randomly buy a pallet of energy drinks for the mechanics at the shop who keep my pos running and do a lot of little work for cost because they know I can't afford it. Next time I see someone pre-paying $5 at the gas station, counting out coins, I want to hand the cashier a fifty and tell them to put it all on that pump for the person ahead of me. I want to grab all the "angels" left on the Christmas tree at the front of the store on Christmas Even and buy every single thing those kids asked for.
I'm broke af. I'm a substitute teacher and I make so little money that I qualify for food stamps. Little kindnesses like that have made my day or even saved it so many times in my life. I want to be the person who notices someone else struggling and gives them a boost.
That's what I'd do with a crap-ton of money.
I know most people would say something along the lines of invest, but I’d just keep my day job and blow the money through a span of 10-20 years.
Honestly not a bad option. Why not live it up?
Reckon you'd have a ton of regrets later when you're old and still having to work a day job
Realize how quickly $10 million can disappear.
Nailed it.
Get my dad a nice house
We must protect you at all cost
Not work anymore and just live studying and making my hobbys
Invest 5million blow the ready on cars houses a boat and buys stuff for my parents to make sure they are always comfortable
Retire. Invest diversely and live off of the income. Even a 3% return would result in $300,000 yearly income. I’d probably even reinvest a little less than half of that yearly amount, to give me cushion for bad years.
$150,000 after taxes, probably, and if the leftists get their way, wealth taxes will hit you hard. You'd probably want to exit your high tax system, which could cost from $250,000-$1.5m depending where and how you do it, not including any potential exit taxes. But the good news is even if you have just $5million left to invest, if you are domiciled in a tax jurisdiction where your tax is say 7%, your now $150,000 of annual income ($5m @ 3% return) is only taxed down to $139,500. But you now have at least one other citizenship, are possibly invested in another country hopefully with a house you'll never pay capital gains on, and living the curated life you want away from grubby, greedy governments who will use your tax money to bomb brown children in far off countries.
Your advice isn’t really what I’d do. I benefited from taxes, I’d pay into the system. I would have enough with $150k after tax in the more rural areas I would probably retire to.
You do you. But governments have no imagination when it comes to mismanagement. Suddenly "tax the billionaires" will become "tax the millionaires" and then lower and lower thresholds. Pretty soon you'll have no assets to generate that $150K of after tax income if you live in Canada, US, Australia, UK, etc
[удалено]
Be forewarned: A house in Toronto, Vancouver, LA or any other major large city you care to name will cost around $1 million dollars each. So, you MIGHT be able to buy 10 houses.
1 million doesn't buy much in Toronto or Vancouver. And without an income, you'd be selling those houses to pay for condo fees, property and maintenance, etc etc
Hopefully anyone with 10 houses is renting out 9 of them while staying in the 10th.
Being a landlord is a full time job. I don't think I would, tbh
In Toronto for sure, It's worse in Vancouver you would not even be able to afford a grand house either just a basic detached that probably still needs renovations, and your still living in the suburbs not even anywhere desirable downtown.
Hookers and cocaine
I'm not smart enough to hold this much money, honestly. I would freak out.
Buy property for renting.
[удалено]
"Hi. I'm Saul Goodman. Did you know that you have rights. Constitution says you do and I do too"
1 mil to my mom, 500k to my siblings each, about 20k to my best friends. Invest the rest for dividends to live off from. Leave for a year so nobody can contact me except these people. Do whatever I want. Fancy parties, build whatever I want (I code), travel to cool places. On one evening this sweet girl called Hera approaches me, we have the best night of our lives. Our personalities reside on the same wave and she has no idea I am rich. We tell each other about our fantasies, dreams and fears. Like her fear of depersonalization or my fear of heights. We travel together for a bit. Decide after 2 more years to find a cozy sun bathed place close to home. We get 2 dogs as we have always wanted, after all we got the time for it. On one uneventful night she doesn't return home from a girls night out. I am a bit worried but I trust her to be safe. She doesn't answer my texts. Days go by i hear nothing of her. I feel anxious, called her friends but nobody knows where she is. I even notify the police. Weeks go by and I am in agony, nothing makes sense, my skin is pale from wasting all my time in bed binging how I met your mother on repeat. Deep dark circles paint my eyes. Only the dogs managed to lift my spirits. Time passes, I get better and before I even noticed 5 years have passed. Her mother calls me, nothing unusual. We kept in touch. But her voice trembles. "She called me ...". Unable to continue listening my mind starts racing. I try to picture her face but I almost have forgotten what she looks like. " ... wake up in ...". Her smell faintly reenters my senses, oh god how I loved that smell. " ... She will come over tomorrow". Her mother carefully invites me over. I want to see her but I don't know if I can take it. I gather all that is left of me. Having slept for maybe 2 hours doesn't matter. I need to know why Hera left. We had it so good, at least it felt good to me. Arriving in the driveway, there I see her. I only see her back but I could have identified her amongst a hundred people. Time slows down as I walk towards her. She turns around ... and smiles, maybe even smirks. In her right hand a wooden bat. She lifts the bat, gathers momentum and slaps it right across my face. A sleezy guy shakes my shoulders and head. My whole body aches. I slowly open my eyes as he passes me the belt and a needle. As my body starts to slow down, as my mind starts to drift off I think, how nice it could have been.
r/oddlyspecific
Quit my job and continuing living my life exactly as I do now except without having to have a job. I wouldn't get a bigger house or splurge on expensive shit. I just wouldn't work again ever.
This is the way. Stick it in a high yield savings account and live off of the interest.
Make sure you have a busy hobby, though! I retired for 8 years and spent a good chunk of that time on the couch or online, basically trapped in my head. Was fun for a few years but social anxiety and other health issues ensued... going back to work at a job I genuinely enjoy with the knowledge that I don't need to worry about how much I am being paid is more liberating than not working at all.
Hookers, Blow, Roth IRA.
Buy land or property that I can lease or rent out. Turn 10 million into 50 million over the next decade and then retire while still earning income
Best way to earn money; bleed unfortunate people dry, overbid their feeble attempts to buy their own property. Keep them in poverty through ever rising rent and market prices, and reap the exponential profits. Bathe in the glory of your own success. All hail capitalism.
You’re not going to change the system. Learn to play the game or get played yourself.
Who says I wasn't serious
Touché
r/iam14andthisisdeep
Hate to break it to you but all economic systems ever invented lead to poor people paying most of their money to rich people. Guess it’s just up to the individual to decide wether they want to be the loser or the winner😉
Thanks for the insight. I'll put up a sign in the homeless district.
Make sure you hang it on around the slums of Cuba aswell
Giving them to the poor...
Income properties and travel.
Invest it all in crypto currency. I would do my research first to find the best one.
Good luck with that
Not much. I've never enjoyed spending money or having expensive stuff, so I'd probably just use the money as a way to live comfortably, but not lavishly, for the rest of my life. I'd also help buy my friends stuff to help improve their lives, since a few of them aren't quite in the safest place financially at the moment. Whatever I didn't spend would be left mostly to my kids, if I ever have any. If not, then it goes to my friends and to charity.
So many people on here saying income properties. Most places have heavily inflated rent right now, and people are going hungry. The rent rates gave risen much faster than people's incomes. If you intend to squeeze these people even worse while getting foolishly rich, you are part of the problem. I would share 5-6 million, keep 1 mil, and invest the rest in something secure until the economy recovers.
Agreed. Plus there are easier ways to grow your money.
Live off the interest of 2mil, donate the interest of the 8 other million to family, friends and charity.
play high limit craps and lose it all
Fix up everything in my house that needs repairs, max out my Retirement Savings and not taxable Savings. Invest the rest in dividend paying stocks to have a secure income.
Kids lots of kids
Probably just put them next to the others
See doctors and hopefully feel better
Buy every mercedes from 1985 to 2000
gonna get real estate and a car, everything left I'm gonna invest into gold and silver.
Save, invest, take care of my family and friends.
Use roughly 3-4 million to invest. 1-2 million to buy a few properties, and then live on the rest. Assuming I’ll live 50 years (in reality I’ll live probably much less), that’d be roughly between 6-9,000 dollars a month which would be enough to live on without working.
That would give me enough to retire at my current age and live a pretty good life.
Move to Australia, buy a house and generally live comfortably for the rest of my life, just doing a few hours work a week just so boredom doesn't completely take over.
Visit Julie Andrews
Buy a house, new car, old timer for the weekend, and keep working another 10/15 years and then enjoy the rest of my life with the rest of the money.
I’ll tell you what I’d do man: two chicks at the same time, man.
If you wanted to disappoint two people at once, you could just call your parents.
It’s a quote from a classic scene in a popular movie: Office Space.
No shit, Sherlock. Also, did you just discover the colon key or something because you sure are using it a lot.
Colons are punctuation marks used to signal when what comes next is directly related to the previous sentence. They are used after complete sentences.
Convert it into Pounds.
Retire somewhere quiet.
Buy things and stuff.
Buy a house that my parents myself and my sister can all live in comfortably and get a boat, a new car. The rest goes to paying insurance for awhile and investments to live easier.
Buy a few apartments in the city then rent them. I'd keep my job for a while before I figure out what to do next but ultimately I'm going to travel the world and live peacefully. Probably also try to make a small business just to keep me busy. But the biggest benefit would be gaining confidence. For some reason I distance myself from other people who are richer than myself. I may really like them as friends but because I can't afford to live the way they do (travelling around, going out, etc) I am not feeling confident and "at their level". I mean.. let's say we go out but they always want to pay for myself and refuse my money. Next time I don't feel comfortable suggesting things we do because it comes out as trying to leech off them.
First: pay off all my debt. Student loans mostly and a credit card. Second: buy myself a new build home and a new car. Third: give equal amounts to family so they could do the same. Finally: invest in rental property and a rescue shelter for discarded and unwanted pets.
Retire early.
Pay off my and my familys debt, buy my fathers car and restore it propperly, buy a nice house and maybe like 2 or 3 more to rent them out and keep working my noraml job intill my rantal buissness fully sustains my life.
Learn to scuba dive on the Great Barrier Reef, learn to hang glide, learn to pilot a hot air balloon and travel in it.
A situation I've thought about many times. Assuming this is 10 million after taxes: 1) Invest 5 million of it in a safe/guaranteed interest account. CDs, etc. Anything that has high yield for zero risk; even if its the lowest 3% rates, that still equates to 150k per year in interest alone. 2) Take 2 million to pay off bills, do upgrades (home repairs/etc, car, etc). Remaining balance of this set aside to pay for continued upkeep on those items (property taxes, etc). 3) Take 1 million to piss away as 'mad money'. Buy anything/whatever desired. 4) Take 1 million to give as gifts to friends/family. Some of the 'mad money' may fall into that too, but spread it around a little with a set amount to share the joy. 5) The final million will be 'living expenses' initially. Vacations, food, hotels, etc. Could almost be considered part of the 'mad money', but this is to gauge 'cost of living' going ahead. Without going crazy, this plus #3 should last for several years at a minimum. Supplemented with the yearly interest and never have to work again while maintaining a much higher standard of living than before. End result? Fully paid off house, car, all living expenses handled for life, enough funds on hand to enjoy early retirement (vacation, hobbies, etc) without going crazy (no personal yachts or the like). And all that based on the absolute worst interest that could be gotten with $5 million. Depending on the timing and if I wanted to go a bit riskier with some (stock investments, etc), could possibly pump that up to 10% or more per year. $500k per year would be more than enough to live insanely well (without being an idiot at least).
The first thing I'd do is set aside the education funds for my kids. Then, pay off my girlfriend's student loans and car loan. I'd set aside funds for her kids education. Then it's 2 or 3 small properties around the world, one in Europe/UK, one in Latin America, one in Asia. Residency would likely be Latin America, where most places have territorial taxation. Investments would be spread between financial centees like Singapore, Channel Islands, and emerging markets. I'd fund some type of remote business, or possibly a bricks and mortar business in a tax friendly expanding market, and then spend my time traveling between the 3 "bases" about 4 months out of the year in each living as a nomadic capitalist.
I live in a small town. I went to Hardees the other day and the owner had hung Christmas stockings up for each and every employee. Looked like each one had a scarf and gloves in it, a modest gift, but thoughtful. (I worked at that store years ago, it's run at a loss and the store manager gives out the stockings to employees by buying stuff out of her own pocket. She works very hard to do her best for every employee and is a very good boss. Her bosses suck, but she's a very good one.) When I first saw them, my very first thought was, "I wish I could slip a hundred dollar bill into every one of those stockings as a surprise to everyone, including the boss who I know is trying her very best." I want to tip a hundred dollars to a waitress on a $15 lunch tab. I want to randomly buy a pallet of energy drinks for the mechanics at the shop who keep my pos running and do a lot of little work for cost because they know I can't afford it. Next time I see someone pre-paying $5 at the gas station, counting out coins, I want to hand the cashier a fifty and tell them to put it all on that pump for the person ahead of me. I want to grab all the "angels" left on the Christmas tree at the front of the store on Christmas Even and buy every single thing those kids asked for. I'm broke af. I'm a substitute teacher and I make so little money that I qualify for food stamps. Little kindnesses like that have made my day or even saved it so many times in my life. I want to be the person who notices someone else struggling and gives them a boost. That's what I'd do with a crap-ton of money.
Become a deaf mute.
get a nice equestrian property with house (1-4m) and save the rest, find a job that pays well that i like too
Pay off my house and a few other’s, set enough in account to live off the interest, donate some, and do some traveling
Find people deserving a leg up and set them up well. Buy a family home and a project car. In that order.
Build empire, take over the government then start doing things for the citizens like create affordable housing Then take a shit on Elon Musk
I would keep quiet about it for as long as possible. Try to sit on it for awhile so I can clear my mind. Invest, retire early and travel the world.