If I had 2 million in the bank, I'd retire, but besides that I'd have fun with a beautiful woman every single day, whether it be SP, MPA or stripper.
What would you do?
What would you do?
If you had 2 million in the bank, what would you do?
- Thread starter JamesDouglas
- Start date
Some may disagree, but 2 mil. is not a huge amount of money.
I would live life a little better, do more things but nobody would notice a big difference. I know a guy that inherited 1.5 mil., He went hog wild. He bought a better house, an extra vehicle that he did not need ( Honda Ridgeline $42k ), ATVs, snowmobiles, Harley Davidson. Seven years later, all his toys are 7 years older and all his inherited money is gone.
I would live life a little better, do more things but nobody would notice a big difference. I know a guy that inherited 1.5 mil., He went hog wild. He bought a better house, an extra vehicle that he did not need ( Honda Ridgeline $42k ), ATVs, snowmobiles, Harley Davidson. Seven years later, all his toys are 7 years older and all his inherited money is gone.
You have to manage it wisely. You figure, pay yourself a $1,000.00 a week. Tax free. You would be set for the next 20yrs.
To make $52k clean a year, you'd have to make about $175k.
Plus the money that is in the bank makes interest and keeps growing. I can live off that.
To make $52k clean a year, you'd have to make about $175k.
Plus the money that is in the bank makes interest and keeps growing. I can live off that.
If it was gold in a safety box I would sit on it till gold hits $1,500. If it was in an account would be humiliated to have such terrible investment skills.
Why would you wait until gold goes down ~$240 ?If it was gold in a safety box I would sit on it till gold hits $1,500. If it was in an account would be humiliated to have such terrible investment skills.
Probably cause I converted it all when it hit $1,500. Yes I know I lost the $240 by being too conservative.
100k to pay for current expenses
300k in stocks (personal trading)
300k in short term bonds
300k in long term bonds
500k in GICs or mutual funds
500k in Residual income programs
(monthly payout tends to be anywhere around 0.75% per month or 4~6% annual)
I'd probably bring in about 6k-7k per month on avg (low 5k, high 9k)
Will keep on working though, so around 120k-140k per year of disposable income (around 80-85k after taxes) + the principle 1.9million.
300k in stocks (personal trading)
300k in short term bonds
300k in long term bonds
500k in GICs or mutual funds
500k in Residual income programs
(monthly payout tends to be anywhere around 0.75% per month or 4~6% annual)
I'd probably bring in about 6k-7k per month on avg (low 5k, high 9k)
Will keep on working though, so around 120k-140k per year of disposable income (around 80-85k after taxes) + the principle 1.9million.
Just for kicks, every day I'd hire several drivers to slowly cruise along the 401 side by side at 20 kph. :eyebrows:
