WWYD

[burrocrat]

What would you do?

It's getting rough out there. Maybe a good time for some heartwarming stories.

If $2 million ($850,000 free and clear after tax) fell out of the sky and hit you on the head, WWYD?

 

[jpcavin]

What would you do?

It's getting rough out there. Maybe a good time for some heartwarming stories.

If $2 million ($850,000 free and clear after tax) fell out of the sky and hit you on the head, WWYD?

Well, I definitely would not let anyone know about it because then everyone would want to be my friend for all the wrong reasons. I'd invest about $800,000 and use the $50,000 to send out random anonymous gifts to hardworking Americans that could could use a helping hand.

 

[JTH]

I'd put it in a bank and think about it for maybe 6-months, some decisions shouldn't be rushed.

 

[poolman]

I would invest about $700,000.00
Then I'd spend approx- $100,000.00 on a new Dodge Viper.
Then I'd spend approx- $7,500.00 on a Super charger for my Trans Am.
Then I'd keep approx- $42 or 43,000.00 very accessible for other desires.

 

[konakathy]

Quit my stinkin' job first!
Invest half.
Pay off my condo in Hawaii.
Help out my family, close friends, and charities I give too.
Travel all around Europe, first class!
Hire a male Italian "love" slave.
Buy a BMW.
Hire a male Spanish "love" slave.
Rent an RV and cruise the USA.
Maybe hire a male American "love" slave along the way.
:nuts:
http://www.youtube.com/watch?v=9rlNpWYQunY

 

[RealMoneyIssues]

10% to my Church
Pay off my debt and mortgage
Invest the rest using sound investment advice from TSPTalk.com
Gift the max ($26k) a year to our children and grandchildren into a trust so they don't have to struggle as much as we did.

 

[burrocrat]

Well I've thought long and hard about it and I can't decide between Plan A and Plan B.

Plan A: take 100k and do silly stuff with it like donate some, buy a brand new car, remodel the house, take a serious vacation, etc. Then invest the other 3/4 mil and draw out 6-8% per year to replace my current salary + benefits so I could quit my job. With all the help available around here I should be able to gain that much in the investement account annually and keep it turning in perpetuity, if nothing else it would last a good 20 years before I went broke, which is when I plan on retiring broke anyway. I garaundamtee you with that much time on my hands I could find something positive, productive, and profitable to do.

Plan B: hire on as KonaKathy's poolboy or RV driver, she seems pretty positive, productive, and profitable.

It is encouraging to note that nobody listed 'apply for food stamps' in their plans, yet.

 

[jpcavin]

It is encouraging to note that nobody listed 'apply for food stamps' in their plans, yet.

Be careful, your thread could get obliterated in the blink of an eye.
View attachment 11112 :laugh::laugh:

 

[nnuut]

How much income would $800,000 give you a year? At a 5% withdrawal rate that's $40,000 a year and far from being rich! Any more than that and it won't last long. Yes this guy hit the JACKPOT but he is far from rich unless he wastes the money and ends up broke in about 3 wild years.

 

[burrocrat]

How much income would $800,000 give you a year? At a 5% withdrawal rate that's $40,000 a year and far from being rich! Any more than that and it won't last long. Yes this guy hit the JACKPOT but he is far from rich unless he wastes the money and ends up broke in about 3 wild years.

That's all I need, 40k/yr, just give me the time and a shot, I'll make it happen cap'n.

 

[WorkFE]

Poolman, You may want to keep a little on the side for speeding tickets in the Viper.

I would blow it as fast as possible.
1. That gives the gov't as little time as possible to dream up ways to take whats left
2. Once I'm broke I've always got my food stamps.:laugh:

 

[Birchtree]

I would open another margin account with the idea that interest rates are going to remain low for several more years. Then I'd buy another 100 dividend paying stocks that I don't already own and make the sacrifice of dividend reinvestments for several years to build income. Margin provides double the leverage and the interest cost is tax deductible - isn't capitalism great. And don't forget that capital appreciation in share price is optionable.

 

[Steel_Magnolia]

How much income would $800,000 give you a year? At a 5% withdrawal rate that's $40,000 a year and far from being rich! Any more than that and it won't last long. Yes this guy hit the JACKPOT but he is far from rich unless he wastes the money and ends up broke in about 3 wild years.

And the really bad news is that you wouldn't start out with $800k. Because Uncle Sam takes a much bigger bite out than the 15% that we originally figured.

View attachment 11115​

And that doesn't include state tax, which in Utah would grab another 7.5% off the top. <sigh>

So we'd be starting off with more like half a mil. Could you even quit your job with $500,000? I hope so. I quit my job with a whole lot less than that.....

 

[FAB1]

Why did I know burros Plan B was coming on the next page. Konakathy I would check his qualifications im not sure he is up for the position!

 

[Viva_La_Migra]

What would you do?

It's getting rough out there. Maybe a good time for some heartwarming stories.

If $2 million ($850,000 free and clear after tax) fell out of the sky and hit you on the head, WWYD?

After paying off all debts, there will only be enough for hookers, Jack Daniels, and a nice porterhouse!:blink:

 

[Scrappy]

What would you do?

It's getting rough out there. Maybe a good time for some heartwarming stories.

If $2 million ($850,000 free and clear after tax) fell out of the sky and hit you on the head, WWYD?

I would start two businesses.

1. First would be to open an investment firm. I would pay frixxxx a salary of four times whatever his current government pay is to be the CEO. My only owner/micro management requests to him would be free trades for all current TSP.COM people and Burro would have to be employed as the marketing manager/vice CEO.

2. Second business I would create came from an idea from BT and JPCavin. I would find a legal loophole method of accepting foodstamps & etc. in trade for cash of a much lesser value. (So all kids can have nice shoes).
There would be enough offices nationwide to offer any government retiree on TSP.COM a job that has no interest in being a Walmart greeter.
I would use the foodstamps along with coupons to acquire free or nearly free merchandise like I see these coupon geniuses do on TV. From there who knows? Maybe put Costco & Sams outta business.
Become buddies with the likes of Ross Perot and Donald Trump, build my own golf course, fly around in my personal helicopter, (with my name on the sides) and start a cable channel to compete with and eventually buy out the golf channel.

 

[Buster]

I would start two businesses.

1. First would be to open an investment firm. I would pay frixxxx a salary of four times whatever his current government pay is to be the CEO. My only owner/micro management requests to him would be free trades for all current TSP.COM people and Burro would have to be employed as the marketing manager/vice CEO.

2. Second business I would create came from an idea from BT and JPCavin. I would find a legal loophole method of accepting foodstamps & etc. in trade for cash of a much lesser value. (So all kids can have nice shoes).
There would be enough offices nationwide to offer any government retiree on TSP.COM a job that has no interest in being a Walmart greeter.
I would use the foodstamps along with coupons to acquire free or nearly free merchandise like I see these coupon geniuses do on TV. From there who knows? Maybe put Costco & Sams outta business.
Become buddies with the likes of Ross Perot and Donald Trump, build my own golf course, fly around in my personal helicopter, (with my name on the sides) and start a cable channel to compete with and eventually buy out the golf channel.

You forgot;
to Marry a North Vietnam sympathizer with a famous daddy...

 

[Scrappy]

You forgot;
to Marry a North Vietnam sympathizer with a famous daddy...

Heyyyyy, what are you trying to say....you have no faith in frixxx and Burro making me a trillionaire?

Or is it business #2 you don't see succeeding?

 

[Handballer]

Konakathy I sold my condo on Kawaihae Street on Oahu several years ago. Regrets, yes I have a few.

 

[WorkFE]

After paying off all debts, there will only be enough for hookers, Jack Daniels, and a nice porterhouse!:blink:

Try skipping the women and switch to beer and beef jerkey.