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Just received a large sum of money...

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Get a nice house, nice car and then invest the rest. And when I say nice I mean 500k house and maybe a 50-60k car. Plenty of money left over to invest.
 
Call goldman sachs.
To them, you are now a high net worth individual - and they will help you manage your money. Probably much better than what you will do yourself.
 
Originally posted by: AmdEmAll
Get a nice house, nice car and then invest the rest. And when I say nice I mean 500k house and maybe a 50-60k car. Plenty of money left over to invest.
Click to expand...

can I flip it? 50-60k house and 500k car?


told yall I am a car guy. I'd rather live in a comfortable car 😉


Does Goldman consider $10mill high net worth?



I think my biggest expenditure to start is to take care of my direct family. Get rid of all the debt.
 
Originally posted by: crazySOB297
Originally posted by: SludgeFactory
$10M at age 18 is crazy. I wouldn't blow a sizable chunk of it on a Bugatti right off the bat. Buy a decent house, invest the bulk of the money, live off part of the interest, and set money aside for growing a future business. Hope you haven't told people IRL about this, I wouldn't do it.

I'd probably go through with college but it would hard to get motivated. I'd say screw it to anything scientific/technical and change my major to 1 of 2 things: the easiest thing you can find with the hottest chicks and party like a rockstar for 4 years, or a business/finance major and party like a rockstar for 4 years.
Click to expand...

I'm already a finance major 😉

At a big party school...
Click to expand...

SMU is not a party school.

 
Originally posted by: crazySOB297
Originally posted by: AmdEmAll
Get a nice house, nice car and then invest the rest. And when I say nice I mean 500k house and maybe a 50-60k car. Plenty of money left over to invest.
Click to expand...

can I flip it? 50-60k house and 500k car?


told yall I am a car guy. I'd rather live in a comfortable car 😉


Does Goldman consider $10mill high net worth?



I think my biggest expenditure to start is to take care of my direct family. Get rid of all the debt.
Click to expand...

are you looking for a son that is older than you??
 
I have little to compare it to but I can think of a week where there hasnt been at least 3-4 parties.


Its enough of a party school for me.
 
You didnt recieve jack, cause if you did you would already be out spending it and not on ATOT. Get back to flippin burgers.
 
Originally posted by: RESmonkey
Heh, for some reason, I believe him. But just barely. I don't know.

18 years old...10 Mill...SPLURGE?
Click to expand...

Dude don't tempt me...


If only the dollar wasn't falling so fast... What do you guys think of investing in Gold?
 
Originally posted by: crazySOB297
Originally posted by: RESmonkey
Heh, for some reason, I believe him. But just barely. I don't know.

18 years old...10 Mill...SPLURGE?
Click to expand...

Dude don't tempt me...


If only the dollar wasn't falling so fast... What do you guys think of investing in Gold?
Click to expand...

You just missed Gold's 'we crap on the rest of the financial sector' announcement so I think waiting might be in order
/IANAFA
 
Seriously? I'd buy a comfortable home, a reasonable car, and invest the rest in a guaranteed return. Don't skimp on education now just because, that'd not be smart.
 
Dont celebrate already....you will be paying Capital Gain Tax on that $10 million at the end of your Fiscal Year (despite income taxes on your income)
 
Congrats, and I'm always accepting donations 😉

I'd throw some into a high yield savings account and spread the rest out between bonds and stocks to diversify against risk.

Keep in mind you're only going to be bringing home about 5.5 million after taxes, so maybe buy yourself a nice car as a treat, but invest the rest.
 
Originally posted by: crazySOB297
Originally posted by: AmdEmAll
Get a nice house, nice car and then invest the rest. And when I say nice I mean 500k house and maybe a 50-60k car. Plenty of money left over to invest.
Click to expand...

can I flip it? 50-60k house and 500k car?


told yall I am a car guy. I'd rather live in a comfortable car 😉


Does Goldman consider $10mill high net worth?



I think my biggest expenditure to start is to take care of my direct family. Get rid of all the debt.
Click to expand...

I think their definition is liquid assets of >$10M.
Since he said this is after tax money - I guess he qualifies.
 
I think if I had something that someone would pay 10mil for ...

I'd run that shit myself and make 20, 50, 100? ... then retire ...

Give to charities ... ride bikes ... goof off .. program ... get part time jobs ... or not ...

😛ipeDream:
 
See if you can prepay your tuition for all four years. At the college I went to, it was cheaper this way because you pay what the tuition is when you start and the yearly increases don't affect you.
 
Originally posted by: Gobadgrs
Congrats, and I'm always accepting donations 😉

I'd throw some into a high yield savings account and spread the rest out between bonds and stocks to diversify against risk.

Keep in mind you're only going to be bringing home about 5.5 million after taxes, so maybe buy yourself a nice car as a treat, but invest the rest.
Click to expand...

The OP smartly figured out the tax already, it will be $10 after. He is just here to ask how to use it. 😉
 
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