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A question you should ask on your first date just happens to be the topic of today's random thread of perpetual vomit!
"What would you do with a million dollars?"
I'm a boring guy, so I'd just invest it into something that is low risk. Probably a high-interest bank account, if such things exist in Canada.
A million dollars isn't that great any more. When you think about it, it doesn't really buy you much. I'd probably just use it as ordinary cash, and avoid the world of work for a while. That's the best use I can think of.
I would invest most of it as you would, but I would treat myself to a few things too. Like a big slab of bacon followed up by some lyposuction.
I'd buy a house, a nice car and a Thai Bride.
Set for life. :D
I'd buy a server mainframe and us it as a PC after re-fitting it. Then I guess I'd give away the rest.
I'd buy... The Vatican City, is it for sale? But maybe $1 Million wouldn't cover that, but as a consolation prize that is even better than the main prize, I'd settle for a walrus.
id invest it into bank, let the interest grow, invest into real estate (here in aus its cheap and selling high) then go all Tony Stark (aka Iron Man) and get all techish armour and becoem a superhero n stuff.
True story.
I'd buy ice cream to ALL my friends... And then maybe buy a cool car and a big house...?
I would probably ... take a trip to Australasia to meet tghe cangurus and the koalas!
Buy a peace of land and make a house. Buy a car and new clothes and presents to my friends!
I'd buy a car and a U-HAUL, pack up and drive to Canada and buy a house. Then I'd use hatever money I had left to change my last name. With whatever I had left over I'd save it.
I'd invest half of it and I'd start spending the other half by traveling.
I'd buy a cool car, a beach house, a PS2 and Game Cube (i don't have either) and stick the rest in a bank.
Well, seeing that it's not really much... I'd probably put it in a bank, and use the monthly interest to complement my work money. That would mean a substantial rise in my life's quality.
I'd likely put it all in a bank until I finished college, then use some of it to move out on my own to some other country with my girlfriend and leave the rest in the bank.
I'd buy a house in another country. =3 And a fluffy little kitten.
I'd buy land on the moon.
SPACE TRAVELPORATION IS THE FUTURE OF TODAY!
Pay off any debts.
Set aside collage fund.
Splurge like no tommorrow.
I would pay off my mortgage, buy a new car, put away enough to cover my daughter's university costs for when she needs them, do some traveling and invest the rest.
One of my plans regardless of whether or not I will randomly get million(s) of dollars is to have a room full of computers, an air conditioner to cool the room down, and continuously add to the computers.
Folding proteins am goal :D
But if I had a million dollars, I will likely make more money than I can spend, and since I don't want to get married or have kids, I'll be throwing parties every day and living like a king. Sweet :D
I'd go to a nice college and live in a nice apartment and get a job anyway, so I can have extra cash. Lala, I'd save most of it, for future purposes, and then buy a nice house at the beach and live there. Forever.
I would fix my truck up and buy some new clothes and such. get a little car that's good on gas so I don't have to drive my truck all around. Buy a small farm where I could have sheep or goats. And use the rest of my money to fund digs and such for when i get out of uni and become an archeologist.
I would buy a XBox, Gamecube, and all the Beast Wars in da whole wide world!
First I'd make sure I had enough money put out to buy nice food everyday and have meals out at the weekends =D
Then I'd buy some new clothes, and T-shirts and just stuff I wanted before but never got...
Then some DVDs, a Gamecube and games, Megadrive games.. oooh I'd go on Ebay and buy all the FF, Kingdom Hearts, Sonic, and Red Dwarf merchandise I could find :D!
Then I'd spend some money either doing up my car, or getting a nice new (old) beetle. Then a Campervan too.
Then I'd buy tickets to go visit everyone from here, especially Baloki, Psy, and Rye =D And pay for everyone else to come to one huuuge meet-up xD
Then I'd buy a brand new computer really good for my work and stuff. Then this huuuuuge panda which I saw =D
Then.... I'd buy everything that my friends wanted..
And if there's some left over after this..I'd buy some more food. :D
Will you buy PG some hot UK girls?
Of course! :D
Yay pls get 1 million....pounds? euros?
kthx
No Euros. We're fiercely anti-change.
I'd start an organized crime syndicate.
I'd put some in the bank, invest some, spend some on me and my friends and family and then give some to charity.
Chaos
Buy whatever video games I wanted at the time. Then I'd place the rest in the bank.
i'd buy stuff, spacifically an old 1967 pontiac GTO and rebuild the engine for racing, that and a nice house. whatever is left if any would be invested.
I would travel for a long long time all by myself. Then I would come back and run around the US until all the money ran out. Then I would go back to life.
i would end up loaning about half of it to my friends and never see it again (hell, i know ive lost half my money this way already)
then i would put it someplace i couldnt touch it and forget about it for 50 years, while im poor in college and eating cat food and ramen noodles (basically the same thing)
OR
blow it in Vegas, in about 20 minutes.... ahh... memories...
Step 1 - Max out a GIC @ $50,000 on a 1 year term. Do this once a month for a total of one year, resulting in twelve individual renewable GICs maturing one per each month on an indefinate rotating cycle. Choose a bank that has the best average rate over the past 5 years and stick with it for easier management.
Step 2 - Now you have $400,000 left, max out 2 or 3 RRSPs. Rates and maximums may vary as per state/province. The money you contribute to an RRSP is non-taxable until you take it out, so get the most you can out of them, hence more than one.
Step 3 - Pay off your bills. You're in debt? Take as big a chunk out of it as you can.
Step 4 - If you still have any money left at this point, for the love of indulgence, throw a party. You just made some of the most sound and solid financial moves any man or woman could make with a million dollars so go celebrate. Just remember to stay out of debt, you just got out of it.
Step 5 - Go back to work. It keeps you active and helps your ever developing character, both essential conductors for a long and fulfilling life. It also more often than not gives you access to medical and dental benefits, as well as it's own pension plan (gravy on top of all your hard investments).
Now, looking at this plan, your average return rate on a GIC is 3% to 5%. @ $50,000 in each, one maturing each month, that's $1,500 to $3,000 in interest a month for the rest of your life, and the $50,000 will always be there. If you lose your job, you're covered, you should always have enough to pay your regular bills from this such as property and school taxes, hydro/gas electric, food, ect. If you still have your job even better, you use the interest to continue maxing your RRSPs for the year. If you didn't have enough to get out of debt, or you accumulate new debt, use this money to pay those bills, then go back to maxing out your RRSPs so that the interest doesn't get taxed. If and/or when those RRSPs are all maxed out, you're still in the work force so spend a little! You work hard, you deserve it.
Step 6 - Retirement. Following this plan you can easily own your own house and car within your third or fourth year (if you didn't already) and start looking at retirement around your tenth year. All your GICs and RRSPs (assuming you planned this well and set the proper maturity date on those) will now begin to flow right into your bank account, meaning it's taxable, but face it, you have just the basic bills and probably close to $10,000 - $15,000 (or more if you play it right) per month coming in pre-tax. You can afford to pay it and it's good for your country.
Some people seem to think $1,000,000 isn't much in the long term, but as you can see here it would be all the financial security in the world to me ;).
SOMEBODY GIMME A MILLION BUCKS KTHX!
I can honestly say that ichy has exploderised my brain.
Use it to build my future. *boring*