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you win one million dollars exactly... so how do you spend it?

Topic closed. 23 replies. Last post 10 years ago by DoubleDown.

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DoctorEw220's avatar - alien helmet.jpg
Yinzer Country, PA
United States
Member #4067
March 18, 2004
2741 Posts
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Posted: March 17, 2007, 10:19 pm - IP Logged

If I won a million dollars, it really wouldn't change me too much.  Maybe a car and move out of my parents' house.

 Now if it were millions of dollars (I mean BIG money), I would help some friends out (I help those who help others.) a little.  After that, I would pitch a reality show where I wowuld offfer a big investment to competing retailers (similar to "The Apprentice" or "The (White) Rapper Show") in which the business owners would perform certain tasks in order to win my investment.

I've redone my website.  Go to www.dr-ew.com.  I kept a lot of the old stuff, and I've added some new stuff.  Look for more new stuff in the coming weeks.

    MegaWinner's avatar - Lottery-029.jpg
    New Jersey
    United States
    Member #50273
    March 3, 2007
    348 Posts
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    Posted: March 17, 2007, 10:36 pm - IP Logged

    Pay of my debts and invest the rest!    Sun Smiley

    Dang, you took the words right out of my mouth!  I would try to turn that Power Play win into $10 million!

      LOTTOMIKE's avatar - cash money.jpg
      Tennessee
      United States
      Member #7853
      October 15, 2004
      11338 Posts
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      Posted: March 18, 2007, 3:20 pm - IP Logged

      that million wouldn't last most of us no time at all.a million ain't much these days.

        justxploring's avatar - villiarna
        Wandering Aimlessly
        United States
        Member #25360
        November 5, 2005
        4461 Posts
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        Posted: March 18, 2007, 4:07 pm - IP Logged

        If I won a million dollars, it really wouldn't change me too much.  Maybe a car and move out of my parents' house.

         Now if it were millions of dollars (I mean BIG money), I would help some friends out (I help those who help others.) a little.  After that, I would pitch a reality show where I wowuld offfer a big investment to competing retailers (similar to "The Apprentice" or "The (White) Rapper Show") in which the business owners would perform certain tasks in order to win my investment.

        It's obvious that many of the answers are influenced by the age of the member and his or her current lifestyle. (BTW, I'm not criticizing or passing judgment - just an observation.)

        Although I'd rather have much more so I could give it away, a million dollars tax free is a lot of money. Most people who are financially well-off don't actually have a million dollars in cash, but might have a total net worth of over a million, including real estate, a business or retirement savings.

        I do agree that things have certainly changed a lot in the past decade.  $150,000 would have bought a nice home in many areas of FL 10 years ago.  Now it's hard to find a one bedroom condo for that price.  I also remember buying a new VW Beetle for under $3,000 and a 1978 Camaro for $6,800.  Now the average car like an Accord or a Camry costs around $20,000.  You can't even go out for a pizza and a movie without spending $20.  Parents of young children face the highest expenses.  Food, clothing, money for school activities, books, toys, computers, etc., not to mention orthodontic treatment if needed, plus college tuition wold eat up that million dollars pretty quickly unless you continued to work.  It's also nice to take your family on a nice vacation once in a while.

        However, life doesn't have to be expensive.  I mentioned on another thread that a neighbor of mine works for a multi-millionaire who "throws away" clothing and other items with the tags still attached.  Taking advantage of the bargains one can find at a garage sale or thrift shop is one way to look sharp and have nice furnishings without breaking the bank.  Even rich people love to shop at outlet stores and thrift shops.  I admit that I probably would be pretty lazy, although I'd find a job I like and work 30 hrs a week for benefits at least until I was 65.  I would try to volunteer a lot too. 

          Badger's avatar - adu50016 NorthAmericanBadger.jpg
          Wisconsin
          United States
          Member #1303
          March 27, 2003
          1508 Posts
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          Posted: March 18, 2007, 5:46 pm - IP Logged

          you win one million dollars exactly... so how do you spend it?

          after taxes are taken out and all expenses are paid you are left with exactly one million dollars.how would you spend the one million?

          Why do you have to spend it?  You can invest it and make 5% a year easily enough.  That's a gross (pretax) revenue of $50,000 / year from it.  Then you can do what you want....work part time, don't work, whatever.  No bills, and an easy-going lifestyle, and you never touch the priciple.

          ============

          How can you tell if a politician is lying?

          Answer: His lips are moving.

            Avatar
            NY
            United States
            Member #23835
            October 16, 2005
            3502 Posts
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            Posted: March 19, 2007, 2:57 am - IP Logged

            that million wouldn't last most of us no time at all.a million ain't much these days.

            A million isn't as much as it used to be, but it's still a lot of money. Put into a safe and conservative investment a million bucks could generate $50,000 a year before you crawl out of bed in the morning.   According to US census bureau figures that's more than half of the households in the country made in 2004. Combined with even a modest job, a million bucks would almost certainly guarantee a comfortable retirement, while still allowing you to indulge yourself a bit each year even if you're still  quite young. Anybody who blows through a million in "no time at all" either has plenty more coming in, deserves to be poor again, or both.

              guesser's avatar - Lottery-017.jpg

              United States
              Member #41383
              June 16, 2006
              1969 Posts
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              Posted: March 19, 2007, 3:06 am - IP Logged

              I would blow about 3% of it on some things I want.

              That said, this economy scares the hell out of me, not everyone is 100% assured of having a job a year or two from now, let alone having a 'retirement' in the years to come. So I would spend a VERY SMALL amount, and I'd bank the other 97%, and even at that, I'd probably have 20% of it hidden under my mattress where nobody would ever look for it (sic).

              Yes, I'm very bearish on this economy, and with this administration's continued ignorance of the outsourcing of jobs overseas, and the continued non-existence of tariffs on 'most' anything coming into this country. 

              I'm not bearish - I'm downright scared, looking 10-20 years down the road. 

                LOTTOMIKE's avatar - cash money.jpg
                Tennessee
                United States
                Member #7853
                October 15, 2004
                11338 Posts
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                Posted: March 19, 2007, 7:02 am - IP Logged

                i agree guesser.this administration has managed to put the gray in my hair and put worries in me that weren't there before this man take office.a lot has changed since 2000.nothing is certain anymore.nothing.i'll be the first to say i'll be glad when 2008 gets here because we need optimism.it is sorely lacking.it might not be lacking in bel air,aspen or virginia beach but it is just about everywhere else where a person has to struggle day in and day out.i applaud the person who works hard and gets to the top but the little guy is often forgotten.

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                  Coastal Georgia
                  United States
                  Member #2653
                  October 30, 2003
                  1866 Posts
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                  Posted: March 19, 2007, 12:52 pm - IP Logged

                  Lets see...

                  One million dollars.

                  Go to Vegas, find myself a Casino that would accept a one million dollar bet on one hand of blackjack.

                  Double it or lose it.... easy come easy go.

                   

                  Boo Yah !!!!

                   

                  ( please don't beat me up... this is tongue in cheek )