How would various amounts of money affect your life?

[Zargon]

A single payment of $150K? No. That's like two years of net income. It's a nice amount of money that I wouldn't turn down, but nothing life changing.

this. makes it easier, but not changing much. atleast not OMG quit my job kinda changes

All of the big lottery jackpots lately have made me think about this. How would these amounts affect your life? What would you buy, who would you give money to, how would you invest, etc.? I'll assume a 40% tax rate.

$250,000 : ~$150,000 after taxes - I am now debt free, paying property taxes to live at my house. probably take a pretty nice vacation with the wife.

look to buy some land and then save to custom build

$1,000,000 : ~$600,000 after taxes - See previous

buy the land, and start building the house

probably buy even more land and have my own shooting range, talk to some friends who want to start a custom locost race car company about land and a test track


$10,000,000 : ~$6,000,000 after taxes see previous

add a house in Summit County Colorado. and about 300k in fancy vehicles

help those friends by investing in their business, change to a less stressfull job since pay doesnt matter as much, and my wife can quit and make some babies, as I will expect to be pulling decent $$ from some investments


$100,000,000 : ~$60,000,000 after taxes - See previous. but quit my job after I wrap some projects up, and consult until they hire a replacement.

Consult for a few of my old employers, and go amateur motorcycle road racing with a friend

play with fancy tech and bikes all day


as far as $$ for family goes, I would probably help my brothers and parents out, and one uncle. nothing life changing. my wifes close family doesnt really need any help, but would see what we could do. maybe a mil between all the fam to go around, they are all pretty well off except for my one brother, and my MIL, but she married a douchey POS and I cant buy her out of that

 

[TwiceOver]

Any of those would pay off all debts including mortgage so I think that's pretty life changing for me. Above debts, invest.

 

[thegimp03]

$250,000 : ~$150,000 after taxes - Pay off condo to use as investment property and use remaining for down-payment on a single family home.

$1,000,000 : ~$600,000 after taxes - Same as previous, but with a lower house payment on a single family home.

$10,000,000 : ~$6,000,000 after taxes - Same as previous, but buy a single family home and a vacation home for cash. Give about $1m each to our parents and siblings. Set up school funds for our kids. Invest the rest.

$100,000,000 : ~$60,000,000 after taxes - Same as previous but give about $5m each to our parents and siblings. Quit working and cut checks to close friends and other family members. Donate some funds to charities. Invest the rest for future generations.

 

[GotIssues]

this. makes it easier, but not changing much. atleast not OMG quit my job kinda changes

Heck, even $500k isn't "OMG, quitting job now" sort of money for anyone under 50 (and only for those above 50 who have planned reasonably well for retirement). It takes a lot of worry out of things, but it's certainly not an amount of money that can sustain someone for 40+ years on it's own.

 

[CountZero]

Heck, even $500k isn't "OMG, quitting job now" sort of money for anyone under 50 (and only for those above 50 who have planned reasonably well for retirement). It takes a lot of worry out of things, but it's certainly not an amount of money that can sustain someone for 40+ years on it's own.

It is interesting how spending time in the real world both enforces the value of a dollar and how truly little what used to be vast sums of money really is. You think of retirement, housing, kids and suddenly 150k isn't completely life altering, just nice. I think that would be true for most anyone making median income or more (55k+ I think) not just the ATOT millionaire crowd.

$250,000 : ~$150,000 after taxes - New reasonable car as mine is hitting beater status. Pay off high interest student loans. Rest into savings (probably not much left at this point)

$1,000,000 : ~$600,000 after taxes - New car, all student loan debt paid off, buy a house. Having no mortgage/rent or loan payments would be massively useful. Save the remaining for vacations/expenses.

$10,000,000 : ~$6,000,000 after taxes - This is borderline job quitting level. I love the work I do but I'd want to move, if telecommuting isn't approved I'd quit. Buy a decent house somewhere I'd like to live at until I'm old. Travel and take classes on interesting subjects. Invest the vast majority in low risk investments.

$100,000,000 : ~$60,000,000 after taxes - World domination? More of the previous I guess but maybe nicer (5 star instead of 4 star hotels, bigger house)

 

[BurnItDwn]

$250,000 : ~$150,000 after taxes - pay off 2nd mortgage, pay off car.
Buy used pickup or van (with 8 foot bed)
Install Vinyl Plank flooring in kitchen and part of basement.
Install New bamboo floor in hallway & home office.
Install New Base moulding and door and window casings in rooms with new flooring.
New Furnace (Pay for HVAC guy to come and install it)
New Central AC (Pay for HVAC guy to come and install it)
Replace my deck (Never did work with decks before, but I can learn it and do it myself)
Redo my driveway and the walkway to the house. (I'd hire concrete workers/landscrapers to do it.. I don't know jack about working with concrete, and if I had the money, this is something I'd pay somebody else to do)

Replace my shed (get permit, build a new 200ish square foot shed to use for 100sqft storage + 100sqft workbench area for woodworking, or working on snowmobiles.)
upgrade from 100 to 200 amp service (Pay for electrician to come and hook up new box and initial hookups. Have Electritian run new circuits to shed and hook up next to Deck for hot tub)

I Would do most of the work myself ... so I'm not paying labor for a lot of the stuff, just my time ... but it helps to stretch the dollars...

Whatever's leftover, I'd consider investing into rehabbing homes for future sale...

$1,000,000 : ~$600,000 after taxes - Everything I would do on the previous tab... except I'm almost certain after fixing my own house, I'd also go looking for houses to rehab to resell for a nice mark up.

$10,000,000 : ~$6,000,000 after taxes - I would buy 100+ acres of wooded land in wisconsin. I would have a custom house built. 30x20 home theater room with a 12 foot high ceiling, decent sized kitchen, comfortable living room, home library, indoor pool (one of those "infinity pools"), and attached garage .. as well as a seperate detached 3 or 4 car garage with apartment above for when friends/family come to play with snowmobiles, atvs, boats, etc ... I would try to keep the house + real estate costs under 1.5 million ... meaning I would probably do a lot of the finish work inside the house on my own ...

$100,000,000 : ~$60,000,000 after taxes - I'd consider 1000 acres rather than 100 acres, and I would probably consider a bigger house with an ever bigger home theater room

 

[Sixguns]

$250,000 : ~$150,000 after taxes - Pay off my house, save the rest
$1,000,000 : ~$600,000 after taxes - Pay house off and any other debts. Buy new cars for my wife and I. Improve house and save the rest.
$10,000,000 : ~$6,000,000 after taxes - See above and also pay off parents debts. Give a few k to my brothers. Take my wife on a trip around the world that would last at least 5-6 months
$100,000,000 : ~$60,000,000 after taxes - See above. I wouldnt quit my job but I would end up getting fired. I would show up but not care and have some fun with it. Pay off all family debt and invest.

 

[jupiter57]

I call shens on the lot of you!

We all know what most of the population at ATOT would do with a large sum of money:

A: Hire a hooker & finally get laid.

B: Buy an ISP & sink everything in it just so they can have the fastest download speed at AT, then post the Speedtest results on ATOT.
E-peenor FTW!

 

[Doppel]

I'd need at least $15M to pay off my mortgage. I haven't checked the principal in a while, I let my analysts take care of it. Epic riches!

 

[IronWing]

$60M: I'd buy a big piece of land with a big hill. I'd have a road paved straight up the side of the hill. I'd buy a truckload of bowling balls and hire midgets to run up the hill returning the bowling balls.

 

[Kroze]

150k cash- save it, no changes

$600k cash - retire

 

[jlee]

$250,000 : ~$150,000 after taxes - Save it.

$1,000,000 : ~$600,000 after taxes - Probably stop working 60+hr weeks, start house shopping.

$10,000,000 : ~$6,000,000 after taxes - Definitely stop working 60+hr weeks, start house shopping, and maybe quit my current job. Pay off my parents' house, siblings' college, etc.

$100,000,000 : ~$60,000,000 after taxes - Built 2.3l stroker in the MR2 for 600+rwhp, quit current job, start working when I get a real job again, but take my family on an awesome vacation first. Also pay off family stuff as above.

 

[ManSnake]

$250,000 : ~$150,000 after taxes - bet on black

$1,000,000 : ~$600,000 after taxes - bet on black

$10,000,000 : ~$6,000,000 after taxes - bet on black

$100,000,000 : ~$60,000,000 after taxes - bet on black