Uncle Bill Gates and cousin Warren Buffet each give you $5M. What do you do? Assume that money is CDN and net of tax.
You are given $10,000,000 net of tax - what do you do?
- Thread starter petitelover
- Start date
I'd sue my negligent Uncle and my non-supportive cousin for not helping out the first 39 years of my life.
Cheap bastards.lol
Cheap bastards.lol
Aren't you a better person for coming up the hard way? That would be there defense!lusciouslin33 said:
And do what - get in trouble? I can read the headlines now - "Fi found face forward fondling fiance"anon.penet.fi said:
First...
...blow the shit out of $500K or so. Just absofuckinglutely set fire to it. Call my buddies, charter a G-IV, hit as many strip clubs and parties as we can until the money runs out. Rent (or even race at some of those exotic car experience classes) Ferrari's, wake up everyday hung over as hell with a new piece of ass, etc. I figure the money should last about a week, though I have no idea how much it costs to have a chartered business jet at your disposal.
Then...
Purchase a relatively modest dream house. Maybe 2 million dollars worth of pussy pad in one of the new high end condo / hotels being built. Indeed, probably less than that...maybe 1.5 mill, then spend the other half mil decorating exactly as I saw fit. Do whatever I could to make sure the place was a smart / wise investment from a real estate POV, but yeah, it would be a pussy pad.
Purchase smaller versions ($750K?) versions of same in my other favorite cities. Again, do everything I can to make sure that they are wise investments.
Spend $1 million on cars and clothes. Again, nothing silly outrageous (no Veyron), but yeah, that Ferrari 456 I have always wanted but could not justify...got it. Fully restored. S600 4matic - same. New Cayenne Turbo. New Carrera 4S Targa (or maybe convertible...I dunno). New Bentley coupe. Buy them all in the states to save money. Then buy all the clothes I ever wanted (I am a bit of a clothes horse now...but there is stuff I can't afford). Other stuff too...watches...etc. Essentially, all the material things I ever reasonably wanted but could not afford or justify.
This should leave about $5 million. Invest wisely. The ROI should be $500K a year. Now that I have purchased all the material things I want, AND had the party to end all parties, a half a mil a year should be more than enough to live a very comfortable live style. Travel. Fine dine. But for the most part live a (relatively) modest live style.
The bankruptcy rate among lottery winners is actually HIGHER than the general population, because people over estimate how much money they have. $10 million dollars, spent and invested wisely, is plenty, but is not enough to make it immune from total waste. It is enough to no longer fly coach, enough to no longer worry about how much any (reasonable) thing costs, enough to be able to eat wherever you want (fine dine), sleep wherever you want (top hotels), dress however you want. You can live a comfortable life without ever again looking at a price tag.
If - If...you don't go over the top. But $10 million is not rock star money, let alone billionaire type money. No outrageous yachts. No $1 million cars. No $500K diamond encrusted watches.
Ok...maybe $250K on a nice boat...LOL.
Aww fuck...I just remembered...the soon 2BX gets half...shit...back to the drawing board...
...blow the shit out of $500K or so. Just absofuckinglutely set fire to it. Call my buddies, charter a G-IV, hit as many strip clubs and parties as we can until the money runs out. Rent (or even race at some of those exotic car experience classes) Ferrari's, wake up everyday hung over as hell with a new piece of ass, etc. I figure the money should last about a week, though I have no idea how much it costs to have a chartered business jet at your disposal.
Then...
Purchase a relatively modest dream house. Maybe 2 million dollars worth of pussy pad in one of the new high end condo / hotels being built. Indeed, probably less than that...maybe 1.5 mill, then spend the other half mil decorating exactly as I saw fit. Do whatever I could to make sure the place was a smart / wise investment from a real estate POV, but yeah, it would be a pussy pad.
Purchase smaller versions ($750K?) versions of same in my other favorite cities. Again, do everything I can to make sure that they are wise investments.
Spend $1 million on cars and clothes. Again, nothing silly outrageous (no Veyron), but yeah, that Ferrari 456 I have always wanted but could not justify...got it. Fully restored. S600 4matic - same. New Cayenne Turbo. New Carrera 4S Targa (or maybe convertible...I dunno). New Bentley coupe. Buy them all in the states to save money. Then buy all the clothes I ever wanted (I am a bit of a clothes horse now...but there is stuff I can't afford). Other stuff too...watches...etc. Essentially, all the material things I ever reasonably wanted but could not afford or justify.
This should leave about $5 million. Invest wisely. The ROI should be $500K a year. Now that I have purchased all the material things I want, AND had the party to end all parties, a half a mil a year should be more than enough to live a very comfortable live style. Travel. Fine dine. But for the most part live a (relatively) modest live style.
The bankruptcy rate among lottery winners is actually HIGHER than the general population, because people over estimate how much money they have. $10 million dollars, spent and invested wisely, is plenty, but is not enough to make it immune from total waste. It is enough to no longer fly coach, enough to no longer worry about how much any (reasonable) thing costs, enough to be able to eat wherever you want (fine dine), sleep wherever you want (top hotels), dress however you want. You can live a comfortable life without ever again looking at a price tag.
If - If...you don't go over the top. But $10 million is not rock star money, let alone billionaire type money. No outrageous yachts. No $1 million cars. No $500K diamond encrusted watches.
Ok...maybe $250K on a nice boat...LOL.
Aww fuck...I just remembered...the soon 2BX gets half...shit...back to the drawing board...
First, I will put 9.5 million dollars to high interest savings accounts from few different banks and financial institutions, I will spend up to $300,000(plus possible $20,000 tax) for new or newer townhome or semi detached for myself and my pet and spend another$10,000 to instal solar power panel and another $10,000 to decorate the home. I will pay off all of my dept from the past($2000-3000), I will buy brand new hybrid car($30,000). I will give back my mother $100,000 for everything she has ever spent on me. Whatever remaining balance I will put 90percent to savings account and 10 percent to checking account to pay future bills and basic items(food, clothing, some entertainments), there will be no loans because I will pay all at once for both home and car.
This is how I would spend my $10million.
This is how I would spend my $10million.
Interest??
By the way, your mom undoubtedly spent well over 100K on you during your first 20 years. If you give her some decent interest on her outlays then the amount is quite substantially higher.
g_27
You would put it INTEREST based investments?? I can understand conservative but what about some quality blue chips - maybe a fund?Kailani said:First, I will put 9.5 million dollars to high interest savings accounts from few different banks and financial institutions, I will spend up to $300,000(plus possible $20,000 tax) for new or newer townhome or semi detached for myself and my pet and spend another$10,000 to instal solar power panel and another $10,000 to decorate the home. I will pay off all of my dept from the past($2000-3000), I will buy brand new hybrid car($30,000). I will give back my mother $100,000 for everything she has ever spent on me. Whatever remaining balance I will put 90percent to savings account and 10 percent to checking account to pay future bills and basic items(food, clothing, some entertainments), there will be no loans because I will pay all at once for both home and car.
This is how I would spend my $10million.
By the way, your mom undoubtedly spent well over 100K on you during your first 20 years. If you give her some decent interest on her outlays then the amount is quite substantially higher.
g_27
It's fantasy $10million question but I'm quite realistic when it comes to moneygardener_27 said:
For funds I will definately consider looking into RRSP but I have few members of my family who has never benefit much from RRSPs, high bank interest would be better choice for me I think.I understand my mother has spent over 100,000 on me in 17yrs of my life, however she is not expecting me to pay her back so it'll be great add on to soon to be retired person, since I believe she is financially okay, she can go traveling with the money and have a lovely retirement.
Take $1M and buy a nice home. Take $1M and give it to family. Take $8M and invest it - even a conservative 6% return will yield $480K/yr. Live off $350K/yr, Give $50K/year to charity, let the rest remain in the investments and grow. Don't work anymore but travel the world (virtually everywhere that's safe) without getting stupid. Find a good "100 places to see before you die" book and start knocking them off the list.
I would buy 2 first class tickets to Geneva, send a car for Jamie and the two of us would be off first to visit my uptight swiss bankers to set up the investments needed to provide for the longest most luxurious vacation that anyone could imagine. Then a return to Toronto for our lives to continue on in parallel harmony while the universe provides for us and our families from the $10 million tucked away in a wonderful tax haven.
BMW M5(main summer car) - $120K
Range Rover Sport (winter car) -$85K
Ferrari F355 Spyder (plaything) - $150K. I'd prefer Jessica Alba as my plaything but she's a bit out of my price range. But this car would make a decent substiute for picking up dime pieces.
Total autos: $355K
Cottage on Lake Rosseau or Lake Joseph - $800K
Lakefront property in Oakville or Burlington - $1.8million
Ski property in Aspen - $875K
Total properties: $3.475million
Seasons tickets (4) to Green Bay Packers - $25K
Seasons tickets (4) to Colorado Avalanche - $50K
Seasons tickets (courtside of course) (4) to Toronto Raptors - $150K
Seasons tickets (4) to Toronto Blue Jays - $50K
Fuck the Leafs!!
Buy ins to all the major World Series of Poker No Limit Texas Hold Em events for a year - $100K
Total sporting events: $375K
Invested in a start up business: $250K
Family gifts: $2million
Friends gifts: $1million
Charity: $500K
Invested: $2million with expected annual return of $250K
Range Rover Sport (winter car) -$85K
Ferrari F355 Spyder (plaything) - $150K. I'd prefer Jessica Alba as my plaything but she's a bit out of my price range. But this car would make a decent substiute for picking up dime pieces.
Total autos: $355K
Cottage on Lake Rosseau or Lake Joseph - $800K
Lakefront property in Oakville or Burlington - $1.8million
Ski property in Aspen - $875K
Total properties: $3.475million
Seasons tickets (4) to Green Bay Packers - $25K
Seasons tickets (4) to Colorado Avalanche - $50K
Seasons tickets (courtside of course) (4) to Toronto Raptors - $150K
Seasons tickets (4) to Toronto Blue Jays - $50K
Fuck the Leafs!!
Buy ins to all the major World Series of Poker No Limit Texas Hold Em events for a year - $100K
Total sporting events: $375K
Invested in a start up business: $250K
Family gifts: $2million
Friends gifts: $1million
Charity: $500K
Invested: $2million with expected annual return of $250K
Buy a nice 3 bedroom condo, and furnish it tastefully. (1.5 mil tops)
New car, nothing flashy. (75k)
Money to my family (1 Mil tops)
Recruit a band of mercenaries and take our some oil or resource rich third world country, preferably one that is very unstable or currently having a civil war.
Take a hundred million out of the country each year for personal expenses.
New car, nothing flashy. (75k)
Money to my family (1 Mil tops)
Recruit a band of mercenaries and take our some oil or resource rich third world country, preferably one that is very unstable or currently having a civil war.
Take a hundred million out of the country each year for personal expenses.
I would take a million and give it to my mother and put away 500,000 for my sister (to be invested into either interest based or some other low risk investment) until she is 22 and done with college
Then I would buy a nice house somewhere in BC for around $500,000. I would also buy a moderatly priced property in the south of France for about $300,000 - $500,000, so I would have somewhere to stay in Europe.
I would buy a BMW for maybe 50,000
After shilling out around 2,000,000 I would put $250,000 in an account just to have fun with. Go to strip clubs with friends, have some SPs over for a house party, get a grow operation going and buy a shitload of really good organic weed, buy the best clothes, furniture, electronics, etc.
The rest would all go into investments - property, stocks, currency, bonds, etc.
Oh, and I would use a few hundred thousand to start up a political organization perhaps like moveon.org or something that would push for a variety of progressive causes
ah, it's nice to dream
Then I would buy a nice house somewhere in BC for around $500,000. I would also buy a moderatly priced property in the south of France for about $300,000 - $500,000, so I would have somewhere to stay in Europe.
I would buy a BMW for maybe 50,000
After shilling out around 2,000,000 I would put $250,000 in an account just to have fun with. Go to strip clubs with friends, have some SPs over for a house party, get a grow operation going and buy a shitload of really good organic weed, buy the best clothes, furniture, electronics, etc.
The rest would all go into investments - property, stocks, currency, bonds, etc.
Oh, and I would use a few hundred thousand to start up a political organization perhaps like moveon.org or something that would push for a variety of progressive causes
ah, it's nice to dream
