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If You Received a Million Dollars, What Would You Do With It?

Discussion in 'BBS Hangout' started by Manny Ramirez, Jul 9, 2003.

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  1. Manny Ramirez

    Manny Ramirez The Music Man

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    And don't tell me "what they did on 'Brewster's Millions'":p

    Actually, I have gone in with 42 other people at work in buying lottery tickets for the Powerball lottery in Kentucky. The pot is at over $400 million now. The main guy who thought this up went to Kentucky tonight to buy 430 tickets (each person gave him ten bucks). He has in writing that if in the slim chance one of those tickets is the winning one that all 43 people will share the money equally (and this is lump sum and with taxes taken out).

    It looks like about $2 million per person but could be more. $1 million would go to my family. But what about the other million?

    Well, I would do this:

    $17,000 to pay off all current debts
    $200,000 for a house
    $83,000 for charities, church, etc
    $60,000 for new vehicle


    That leaves $640K and I can do several things with it:

    1) Go and buy every key silver age comic in the best condition possible such as Fantastic Four #1, Amazing Adult Fantasy #15 (1st Spidey), Journey Into Mystery #83 (1st Thor), etc plus try to complete a full run of Amazing Spider-Man, X-Men, Thor, and Green Lantern

    2) leave about $100K in a savings account just for emergency sakes

    3) the remainder could go into the Roth IRA I have or a mutual fund or some other retirement vehicle.
     
    #1 Manny Ramirez, Jul 9, 2003
  2. ima_drummer2k

    ima_drummer2k Member

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    "I'll tell you what I'd do, man, two chicks at the same time, man. I always wanted to do that, man. And I think if I had a million dollars I could hook that up, cause chicks dig a dude with money. "

    Sorry, Manny. Just too easy.

    Seriously, I'd start my own record company.
     
    #2 ima_drummer2k, Jul 9, 2003
  3. moestavern19

    moestavern19 Member

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    200?

    Geez of all ****, the median home price in Southern Santa Barbara County is $900K. I need to move.
     
    #3 moestavern19, Jul 9, 2003
  4. bamaslammer

    bamaslammer Member

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    I would:

    A. buy a Z06 Corvette, ship it to Lingefelter for the 427 conversion he does and go count some coup on the local numbnuts in their silly rice racers and Mustangs

    B. buy a nice charter fishing boat with plenty of space, range and seaworthiness to take to Costa Rica to go after dolphin, tuna, marlin and other huge fish.http://www.grandbanks.com/yachts/retiredModels/gb_32_sedan.html

    C. Buy a small house with some acreage, a pond and a big two-story barn.

    D. Squirrel the rest away into Roth IRAs and some mutual funds.
     
    #4 bamaslammer, Jul 9, 2003
  5. Dr of Dunk

    Dr of Dunk Clutch Crew

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    1) I'd buy a Viper and ship it to Hennessey Motor Sports in Houston so I can get the Venom 1000 Twin Turbo upgrade package and beat the snot out of his Z06... :D

    2) I'd buy my parents a new house and a new car.

    3) I'd invest the rest.
     
    #5 Dr of Dunk, Jul 9, 2003
  6. 3814

    3814 Member

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    $350,000 towards a house in the White Rock, a beach area about a 40 minute drive from Vancouver.

    $100,000 tithe to my church

    $100,000 towards a ZO6 Corvette and soupin it up and all the goods.

    $50,000 towards a charity that i think is a worthy cause.

    $50,000 towards a Lincoln Navigator.

    $50,000 towards a new multimedia setup...digital cameras, digital camcorders, new desktop computer with tons of software, and all the goods.

    $5000 towards a new snowboard, bindings, boots, pants...and a couple seasons passes...1 to Whistler and the other to Grouse.

    $295,000 into savings.
     
    #6 3814, Jul 9, 2003
  7. AntiSonic

    AntiSonic Member

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    Put it in the bank and live off the interest while I devote all my time to pursuing a career.
     
    #7 AntiSonic, Jul 9, 2003
  8. Deckard

    Deckard Blade Runner
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    Live well. :)
     
    #8 Deckard, Jul 9, 2003
  9. bamaslammer

    bamaslammer Member

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    See you on the drag strip! But seriously, a Z06 has 90 percent of the performance of the Viper and you save 20,000 bucks. I have to save that money, diesel fuel for a trip to Costa Rica is pretty pricey.
     
    #9 bamaslammer, Jul 9, 2003
  10. outlaw

    outlaw Member

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    If I had a million dollars - if I had a million dollars
    I'd buy you a fur coat - but not a real fur coat that's cruel
    If I had a million dollars - if I had a million dollars
    I'd buy you an exotic pet - like a llama or an emu
    If I had a million dollars - if I had a million dollars
    I'd buy you John Merrick's remains - all them crazy elephant bones
    If I had a million dollars I'd buy your love
     
    #10 outlaw, Jul 9, 2003
  11. Parlett316

    Parlett316 Member

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    Cocaine and hookers.
     
    #11 Parlett316, Jul 9, 2003
  12. Chicken Boy

    Chicken Boy Member

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    I would invest half in glorious mutual funds. The other half...I have a friend in securites...
     
    #12 Chicken Boy, Jul 9, 2003
  13. StupidMoniker

    StupidMoniker I lost a bet

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    I would put it into savings and use that as collateral to secure a loan. With said loan I would buy a couple of apartment complexes in developing areas. With the incoming rent from the apartment complexes I should be able to pay the interest and toward the principal. When the loan is paid off I would trade my property for one that has about equal value but that I feel has a greater chance to appreciate. Then I would borrow against the new property to purchase more property or just to make a tax free distribution to myself. During all of this I use the loan as a tax shelter to keep from paying any income tax. All the while I still have the original million sittin' pretty and pulling in whatever interest I can squeeze out of the bank that I am now a very good customer of.
     
    #13 StupidMoniker, Jul 9, 2003
  14. Manny Ramirez

    Manny Ramirez The Music Man

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    Yea, moesy, you really get screwed living in California when it comes to houses and cost of living.

    A house around where I live that has over 4,000 square feet and an acre lot could go up to $500K. I am sure that same house in some parts of Cali (maybe all parts) would be a $5M house.
     
    #14 Manny Ramirez, Jul 9, 2003
  15. MoBalls

    MoBalls Member

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    Take care of all of my family (Brothers and sisters) and spend the rest of my life playing golf.
     
    #15 MoBalls, Jul 9, 2003
  16. ROCKSS

    ROCKSS Member
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    Tithe 10% to my Church
    Pay off my parents house
    Go on a long vacation.
    Invest 50% {of whats left} in a new business venture and sock away the rest
     
    #16 ROCKSS, Jul 9, 2003
  17. RocketMan Tex

    RocketMan Tex Member

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    Pay off my house and my bills, and then put the rest into a mixture of stocks, mutual funds, bonds, real estate and certificates of deposit.
     
    #17 RocketMan Tex, Jul 9, 2003
  18. Rocket River

    Rocket River Member

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    Exactly
    Mutual Fund more than like than a bank

    You get 10~14% interest
    on a million dollars that is 100K to 140K a year

    Then I can pay all my bills off [maybe not all at once
    since I'd get the money monthly .. . but they would
    get taken care of!]

    Pursue my interest and live off the cushion I have

    Rocket River
     
    #18 Rocket River, Jul 9, 2003
  19. GreenVegan76

    GreenVegan76 Member

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    One million dollars would almost pay off my student loans.
     
    #19 GreenVegan76, Jul 9, 2003
  20. Baqui99

    Baqui99 Member

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    1. Buy a house in the Steiner Ranch neighborhood near Lake Travis ~$700K

    2. Not work as hard in the office

    3. Buy a Tahoe Z71 for outdoors, Corvette for fun, and a GS430 for a night on the town. ~$150K

    4. Pay off my parents' mortgage ~$70K

    5. Furnish my pad ~$50K

    6. Donate to charity ~$30K
     
    #20 Baqui99, Jul 9, 2003
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