You win 1 million (after taxes) playing the lottery, what do you do with it?

[Evadman]

a diet coke. maybe some donuts. The glazed kind. num num num.

 

[child of wonder]

Originally posted by: mattlear
Alot of people are saying they would pay off their home. Is it worth it to pay off your house so fast?

For example, my current mortgage rate is at 5.625%. If I can do better than that with an investment, I'm not sure it would make sense to pay off the mortgage so quickly. I might be better off investing that 200k that I owe at a higher yield than the exising mortgage.

That said - I think I would buy a ferrari (guilty pleasure), and take my family for a trip to Italy and Sicily. After that, invest the money and live like I do today. I wouldn't quit my job, but I sure as hell wouldn't care so much when things suck at work!

-Matt

That's true.

However, with the house paid off, even if you blow the whole million, at least your house is taken care of.

I'd pay off my house just to have it taken care of.

 

[Chiboy]

Pay off all debt, get married, move.

 

[ponyo]

On second thought, I'll use the million as my spending money so I can enjoy it. What good is a million if you can't spend it? I much rather spend it all than invest it and lose it.

 

[bonkers325]

invest in high-yield mutual funds

 

[GuitarDaddy]

Originally posted by: compuwiz1
I'd make secured loans to subprime customers at 18%+ interest.

I'll buy those loans from compuwiz1 when they defaulted for 25 cents on the $

 

[Chaotic42]

I'd buy a house, buy a new car, take a leave of absence from work, and get my PhD.

 

[jagec]

I would give it to JLGatsby in exchange for him coming back to ATOT.

 

[skyking]

I've been wanting to do some real estate development, I'd use it for down payment and operating capital.

 

[Q]

Build a time machine for about $356,000, go back in time pre Microsoft and invest the other $643,000 to Good ol' Bill.

But then I'd have no money to travel back to 2007 so that plan sucks.

 

[JEDI]

Originally posted by: PingSpike
There was a perfectly good thread to discuss this in, but after reading something about ball sweat and guess jeans I decided it may be a good idea to start fresh.

1 million dollars, its a lot of money...but its not an insane amount these days. What do you do?

I'd pay off the mortgage, build the wife her dream kitchen. Clear some of my land and build a barn for small animals. Then I'd take a trip to Europe. I'd still have probably 700k left so I'd probably fund my own business idea and start squirting out the kids.

$1M isnt that much diff than what i have now...

in that I can't retire with it

 

[imported_Dingster1]

Pay off debt, buy house, invest the rest

 

[Nerva]

a million bucks? pft, thats not a lot of money. the only thing i really want is a condo on park ave, and those are at least 3-4mm.

 

[Sphexi]

Invest moderately, ride out the 5-6% interest per year (50-60k before taxes), quit my day job. I'd still work part-time, but at a job I actually enjoy, and most of that cash would go to the investments and retirement funds.