What would you do if you got one million pounds?

Atomicus

Banned
May 20, 2004
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Its called convert to American and then put it in a savings account. Use the interest for investing
 

yllus

Elite Member & Lifer
Aug 20, 2000
20,577
432
126
I'd eat the most goddamn amazing English muffin that money can buy.
 

Amused

Elite Member
Apr 14, 2001
57,445
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Two chicks at the same time...

(I can't believe it took this long)
 

NTB

Diamond Member
Mar 26, 2001
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Originally posted by: Atomicus
Its called convert to American and then put it in a savings account. Use the interest for investing

yep. According to your converter:

1,000,000 British Pound = 1,859,300 US Dollar

Invest it and sit on it. I'll live off the interest :)

Nate
 

cw42

Diamond Member
Jan 15, 2004
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i'd move to mexico. i dunno how many pesos i'd have, but it'd be alot!
 

konichiwa

Lifer
Oct 9, 1999
15,077
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Originally posted by: Atomicus
Its called convert to American and then put it in a savings account. Use the interest for investing

Yeah, the .2% interest, about 4k a year. In the lap of luxury!
 

Scarpozzi

Lifer
Jun 13, 2000
26,392
1,780
126
Originally posted by: Amused
Two chicks at the same time...

(I can't believe it took this long)
I wasn't here to say it...when I read the title that's what crossed my mind. ;)
 

Amused

Elite Member
Apr 14, 2001
57,445
19,895
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Originally posted by: konichiwa
Originally posted by: Atomicus
Its called convert to American and then put it in a savings account. Use the interest for investing

Yeah, the .2% interest, about 4k a year. In the lap of luxury!

His plan is very wise. Keep your job and your present life style. Put the million in simple (and safe) interest bearing accounts. Use the interest to invest in higher yielding (but higher risk) investments. If all goes well, your fortune grows to the point that you can start taking money from it to live off of very comfortably, AND keep growing it. And even if all does not go well, you still have your nest egg of the first million.
 

Amused

Elite Member
Apr 14, 2001
57,445
19,895
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Originally posted by: notfred
pay off my debts, buy a house, invest most of what's left over

I see this is a common theme, and it's not the wisest. NEVER spend a major windfall.

Atomicus had the best plan. Put it all in interest bearing accounts and use the interst to invest. Or, you can use the interest to pay off debts and then invest. Grow the windfal into something you can comfortably live off of, or if you;re really ambitious, into a fortune. But do NOT, EVER spend the priciple.

This is what seperates the successful from the unsuccessful.
 

Excelsior

Lifer
May 30, 2002
19,047
18
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Originally posted by: Amused
Originally posted by: konichiwa
Originally posted by: Atomicus
Its called convert to American and then put it in a savings account. Use the interest for investing

Yeah, the .2% interest, about 4k a year. In the lap of luxury!

His plan is very wise. Keep your job and your present life style. Put the million in simple (and safe) interest bearing accounts. Use the interest to invest in higher yielding (but higher risk) investments. If all goes well, your fortune grows to the point that you can start taking money from it to live off of very comfortably, AND keep growing it. And even if all does not go well, you still have your nest egg of the first million.

Yeah..and would the interest rate not be higher than .2%?