what would you do with it?
if you rather invest it in something, how and what would you invest it in?
if you rather invest it in something, how and what would you invest it in?
If you had $1000 to spend
- Thread starter desiplaya4life
- Start date
New rig. Opty 165, nForce 4 mobo, 2gb of OCing memory, and a 7900GTX. I think that might all fit under the budget.
rofl
nah. one is a full time job as it is.
yea im thinking of ING for now.. anything better to make it double QUICK haha? :-/
hmm...
probably I'd get 2 7900GTX's for SLI. My 7800GT is choking up on fear with my new monitor (NEC 20WMGX2).
probably I'd get 2 7900GTX's for SLI. My 7800GT is choking up on fear with my new monitor (NEC 20WMGX2).
(This post entitled "Turning $1000 into being set for life")
1000 tickets on a high-double-digit powerball drawing (the high player-rate in the REALLY BIG ones makes it completely not worth it). Seriously. $1000 isn't going to make a dent in my financial issues right now, and putting it all into the stupid tax is the only efficient way of converting it to an amount that WILL make a difference.
Just 1M in the bank equates to something like $1875 a month in interest at my CU's 2.25% rate.
A 12mo CD at the same credit union would result in a $51k of income PER MILLION invested.
So lets take a reasonable powerball drawing - how about tonight's $73M ($32.6M cash) drawing.
First thing you're going to have to do is set aside the tax on the winnings. Lets say you end up with about $16M after taxes. That's cool, you just won a $73M lottery and ended up with $16M.
Then, you're going to want some cash to kill your preexisting debts and to live off of immediately while your other investments mature. Take a million. Pay it all off.
So lets say you live in the real world (not New York, Florida or California) - this means that you can live comfortably, if GODLIKE on $200k/yr. Take 6M and stick it in a CD. End result, $306k of interest income. Reinvest the initial principals, of course. Now it's time to pay taxes again. Lets say that, for you, they're going to want 25% of your interest income. That leaves you with $229,500/yr. And you've still got $9M to play with.
So, lets invest that. You're going to need some liquid cash to handle unexpected things. So take $2M or so, and place it in various savings/checking accounts (it's important to make sure you stay under the FDIC insurance protection limits. This can't be stressed enough. The chance of a bank failure is virtually null, but worse things have happened). You'll end up with somewhere south of $45,000 in interest income. $33750 after taxes.
What do you do with the other 7M? Buy yourself a house. A car. A killer PC. I don't really care. I'd set aside an additional $3M in accounts labeled "DON'T TOUCH ME EVAR", just in case you somehow mismanage the main accounts... But beyond that, you have $263250 after taxes to play with.
Oh, and do go get a job. The health insurance and your continued social existance will be worth it. The money may not be.
1000 tickets on a high-double-digit powerball drawing (the high player-rate in the REALLY BIG ones makes it completely not worth it). Seriously. $1000 isn't going to make a dent in my financial issues right now, and putting it all into the stupid tax is the only efficient way of converting it to an amount that WILL make a difference.
Just 1M in the bank equates to something like $1875 a month in interest at my CU's 2.25% rate.
A 12mo CD at the same credit union would result in a $51k of income PER MILLION invested.
So lets take a reasonable powerball drawing - how about tonight's $73M ($32.6M cash) drawing.
First thing you're going to have to do is set aside the tax on the winnings. Lets say you end up with about $16M after taxes. That's cool, you just won a $73M lottery and ended up with $16M.
Then, you're going to want some cash to kill your preexisting debts and to live off of immediately while your other investments mature. Take a million. Pay it all off.
So lets say you live in the real world (not New York, Florida or California) - this means that you can live comfortably, if GODLIKE on $200k/yr. Take 6M and stick it in a CD. End result, $306k of interest income. Reinvest the initial principals, of course. Now it's time to pay taxes again. Lets say that, for you, they're going to want 25% of your interest income. That leaves you with $229,500/yr. And you've still got $9M to play with.
So, lets invest that. You're going to need some liquid cash to handle unexpected things. So take $2M or so, and place it in various savings/checking accounts (it's important to make sure you stay under the FDIC insurance protection limits. This can't be stressed enough. The chance of a bank failure is virtually null, but worse things have happened). You'll end up with somewhere south of $45,000 in interest income. $33750 after taxes.
What do you do with the other 7M? Buy yourself a house. A car. A killer PC. I don't really care. I'd set aside an additional $3M in accounts labeled "DON'T TOUCH ME EVAR", just in case you somehow mismanage the main accounts... But beyond that, you have $263250 after taxes to play with.
Oh, and do go get a job. The health insurance and your continued social existance will be worth it. The money may not be.
If this is a theoretical question:
I'd keep 990 in high savings, and 9 in normal savings and use 1.
in real life, if I didn't earn enough to do that:
use ~500, put 500 away half in high savings, and half in normal savings.
I'd keep 990 in high savings, and 9 in normal savings and use 1.
in real life, if I didn't earn enough to do that:
use ~500, put 500 away half in high savings, and half in normal savings.
High yield savings account 4 - 4.5%. Or you could buy some etf shares in a particular index like S&P400, or go riskier and use a tech or commodity index.
Fritzo
Lifer
- Jan 3, 2001
- 41,920
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