If you inherited $1 Million at age 35
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- registe0
I'm taking this moment to lol the edits of this thread. again.
- formed0
Buy a vacation house, invest in real estate, take a damn vacation
- TheeOtherJuan0
Communications technology is a great place to park 30% of this.
- new wi-max technology or buy a couple of cell towers and lease them out. Bandwidth IS increasing
TheeOtherJuan
- new wi-max technology or buy a couple of cell towers and lease them out. Bandwidth IS increasing
- pillhead0
YES
- CableStudios0
- Get out of paper money NOW! you will loose it all.CableStudios
- CanHasQBN0
i just got $240k yesterday. no jokes. i'm scared. i don't know anything about monies.
possibly more $$ coming in soon. somewhere around $660k.
fuckin weird year.
- shut your filthy mouthmonospaced
- congrats!
what do you do? i wanna see your portfolio.
Hombre_Lobo - CaniHaz?CALLES
- he said no jokes, must be trueJSK
- i can't show you my portfolio. it has my real name on it. i don't wanna connect my real name with this screen name.CanHasQBN
- i dont do anything right now. but will start a new company soon. not related to design at all. it's a low overhead, pretty profitable biz.CanHasQBN
- ...pretty profitable business.CanHasQBN
- need an intern?
identity - need a fluffer?sigg
- same differenceidentity
- Will you be our next hedge?JSK
- Hi, can I get a loan?ukit
- you've been saying this for yearseficks
- actually, for months i've been saying it's coming. it just came.CanHasQBN
- ukit0
I would move to Jamaica and buy a small bar/ restaurant on the beach. Yeah mon
- call it cocktails?registe
- ...and dreamsbulletfactory
- and the ganjafyoucher1
- identity0
Assuming the 1,000,000 is post-tax.
Take $100,000 and use that to set up a website that offers seed capital for new start ups. Also use this money to advertise the start-up and live on (sparingly) for 1 year's time.
Divide the other $900,000 into 18 separate seed ventures - $50,000/venture for an equity stake no less than 20% of the company.
Of the thousands - if not tens of thousands who enter, pick the 18 that have the best chance of succeeding. Of those 18 of tens of thousands, you'll likely have a good one that's bought out by google, yahoo or facebook. Cash in that 20%.
- registe0
Some inheritances, such as life insurance proceeds, are tax free
- JSK0
Actually you wouldnt get 1mil. You would have to pay estate tax on it.
- registe0
The Perfect Salary for Happiness: $75,000
http://blogs.wsj.com/wealth/2010…
- vaxorcist0
1.hide half of it from myself, or anyone else....
2. probably pay 25% tax
3. split the rest... so 12% for pure hedonism, 12% for starting a "shit disturbing artist grant project, funding the most controversial art possible"
- moniker0
Pay off debts
Sell house
Sell car
Buy new (and used) photography gear
Move out West
Mortgage a modest 2-3 bedroom condo
$10,000 in bank account for play
The rest invested in whatever Dinky says I should invest in.
- ETM0
First thing I would do is stick it in a term deposit for 6 months. Earn a little interest and lock it away while I really figure things out. 6 months gives you time to really absorb the windfall and not make a bunch of impulse decisions.
Then there is a good chance I would simply save it. Reason being that with a high interest account, you could get anywhere from 30-40k+ in interest per year. Although it's not a full years salary in most regions, it would let me work casually while supplementing my income. The extra cash would go to accelerated mortgage payments and other debts.
See the problem is, if you use it all at once to pay off your debts great, but then it's gone. If you use the interest to pay things off over a couple years, you'l still be debt free, yet also still have that million in the bank.
Once your debts are gone, reinvest the unneeded interest income and you will grow it into a nice sum.
- bingomonospaced
- but 30K interest a year is laughablemonospaced
- oh, yeah, that is possible...and it compoundsmonospaced
- dont forget tax.JSK
- Yeah, it would be better if it was winnings, because we don;t get taxed on winnings in Canada like in the US.ETM