$1,000,000

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13

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  • rdakessian394
    rdakessian394 Posts: 6
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    A masters and doctorate in what?
    blktngldhrt wrote: »
    retire, find a hobby (probably flipping houses to make more money), homeschool my kid, buy her stuff..go back to school for a masters and doctorate that i wouldn't pay for myself under any other circumstances.

  • rdakessian394
    rdakessian394 Posts: 6
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    ;)
    ekg0328 wrote: »
    Pay off all of my debt and then just make it rain because I don't even care about anything else.

  • rdakessian394
    rdakessian394 Posts: 6
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    Invest in what?
    michellemybelll wrote: »
    invest and make it grow.

  • rdakessian394
    rdakessian394 Posts: 6
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    Lol
    ekg0328 wrote: »
    Oh man! I was too excited about the opportunity to even read the question. Ok ...

    I would buy a few Beanie Babies on eBay so that those people feel validated in saving them for close to 20 years because they heard they'd be worth money someday.

  • rubyautumn4
    rubyautumn4 Posts: 818 Member
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    If I Had $1000000
    I'd build a tree fort in our yard.
    If I Had $1000000
    You could help, it wouldn't be that hard.
    If I Had $1000000
    Maybe we could put put a little tiny fridge in there somewhere....

    New cars for us, a year off to travel the world and if anything is left it would go into savings.
  • ilfaith
    ilfaith Posts: 16,769 Member
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    Considering that the average apartment price in Manhattan hit $1.72 million in 2014, I guess I won't be getting that pied a terre in the city.

    http://www.cnbc.com/id/102312956#.

    Guess I'll have to come up with a plan B.
  • lborsato1
    lborsato1 Posts: 1,011 Member
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    Retire..... and build the log house I have always wanted - nothing too big....just cozy....
  • RobDowney
    RobDowney Posts: 2,445 Member
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    tummy tucks for life
  • Becka4Real
    Becka4Real Posts: 1,527 Member
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    I'd invest pretty much all of it so that I could live off the interest. I would pay to go to cosmetology school so I could play with people's hair all day. :smile:
  • jlahorn
    jlahorn Posts: 377 Member
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    The rule of thumb for living off your capital is to assume that you're going to withdraw 4% of your portfolio annually to live on. Assuming no taxes on either the original $1,000,000 or the 4% withdrawals, that's only $40k/year. With taxes... I'm not willing to do the math, but that's a sad little stipend you'd be living on.

    I am way overgeneralizing and glossing over lots of important things, but my point is that $1 million is not enough money to quit your job and do much of any interest. It's probably enough to quit your job and live on ramen noodles and cat food, though.

    If I had no debt, had already travelled the world and helped family/friends/charity, I would probably buy one or two nice things and sock the rest into retirement savings/investments.
  • cloudpoker992
    cloudpoker992 Posts: 28 Member
    edited February 2015
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    I'd have a really fantastic midlife crisis ;)
  • pipsqueak1990
    pipsqueak1990 Posts: 791 Member
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    Open a Dog rescue Center! My own Nursery and stables ! Employ people who need a break. Also a refuge for homeless!

    I would also have a huge house, pool, car and 2 St Bernards or Newfoundlands. Villa somewhere hot
  • fitbybaby
    fitbybaby Posts: 20 Member
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    I would buy a couple houses to rent out and have that money to live off of. I wouldn't work but my husband still would. :) I would also buy some land to have my house built.
  • ldrosophila
    ldrosophila Posts: 7,512 Member
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    Go_Mizzou99 wrote: »
    I would allow a very nice, legitimate, high ranking government official in Nigeria to borrow my bank account to move some money - and earn millions more in the process.

    Then I would buy bitcoins and buy the internet before the federal government ruins it for good.

    With the money I made from the internet (billions of course) I would buy a Prius, Tesla, and one of every other hybrid and park them side by side. I would then run over them with my not-environmentally friendly custom HumVee Monster Truck.

    I would drink coffee and count it as water.
    I would eat M&Ms and call it a cleanse.
    I would not rack my weights, but would hire Valerie van der Graaf to do it for me.

    I could go on ... but this is make believe after all.

    sadly my ex decided bitcoins were a great investment. Yeah....can we talk about the thousands lost.

    With a million I'd pay off my debt and put the rest into some sort of savings.
  • ilfaith
    ilfaith Posts: 16,769 Member
    edited February 2015
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    For $1,000,000 I could buy this house in Coral Gables, FL...
    IS1z7gt9vymiau0000000000.jpg

    Or this lovely home in Great Neck, NY
    IS5mkkkpc21rqr0000000000.jpg

    Or this fine property in Menlo Park, CA
    IS9dkx0eedbhp50000000000.jpg

    Perfectly nice houses in desirable neighborhoods, but perhaps not quite "lifestyles of the rich and famous"...$1,000,000 doesn't get you a mansion in suburban Miami, New York, or San Francisco...and let's not forget there are taxes to pay.
  • pmm3437
    pmm3437 Posts: 529 Member
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    1) Put half in an offshore account the Feds cant get to.
    2) Take the other half and sit outside the IRS building in DC and burn it, $1 at a time.
    3) Write an editorial in the WSJ stating I used it more efficiently than our government.
    4) Expat to a cottage on beachfront property.
  • fitbybaby
    fitbybaby Posts: 20 Member
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    x7bny5tpl3ex.jpg
    Or for $925,000 you can get this where I live
  • kiousd
    kiousd Posts: 917 Member
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    shellma00 wrote: »
    Build a new house exactly how I want it. Then buy my husband an all original 1969 Charger (Dukes of Hazzard car, his dream car). Then invest in my childrens college education, my son wants to play for Alabama Crimson Tide.. that school is pricey. After that.. probably put it in savings.

    he sounds like a lucky guy. but does he get to live in the new house too? lol
  • strozman
    strozman Posts: 2,622 Member
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    Be a playboy till I died an early death
  • 47Jacqueline
    47Jacqueline Posts: 6,993 Member
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    $1 million won't get me far in the real estate market of NYC, but I could afford a bigger apartment and I'd go to a bunch of conferences I've been wanting to attend.

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