If you had a million...

by Quilst

Posted: 16 years ago 46 replies

INTERNET MARKETING

If you had a million $ in your pocket. What would you do?
Spend it or make another million with it?

It reminds me of a story with a young man meeting a milionare. He asked him: "How do you make a million?". The millionare replied: "Easy! Got a million?". The young man said: "No...". Then the millionare replied sadly: "Then I can't help you.."

What would you do with a million in your pocket?

#dollars #milion #million #question

Steven Wagenheim

16 years ago

If I had a million dollars in my pocket right now, the first thing I'd do is
donate 100K to Allen to do what he wants with it. This forum has made such
a big difference in my life, you have no idea.

The rest of it...I'd probably blow it on a new recording studio

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Quilst

16 years ago

Originally Posted by Steven Wagenheim

I agree with you on that one! I would also donate 100k to Allen. This forum rocks!

Ah! The dreams... I would buy myself a studio for multimedia (3d development animation and visualization).

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Andy 16 years ago

Good question,

I guess it depends on how I got it.

If it was a "windfall" of some sort, I'd probably set some aside for our dream home and invest the rest to provide income.

If I woke up one morning and found I had a million "in the bank" so to speak, I'd probably continue what I was doing to get there. Why?

I can't imagine building a million dollar business without using part of it to provide what we need on the way there.

And I can't fathom earning a million from a biz I hate. So if I'm enjoying myself and I'm providing good things to my market, I wouldn't want to stop.

For me it's not the result - it's the process.

God bless,

Andy
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- Quilst 16 years ago
  
  I would probably stay anonimus.
  I wouldn't buy the most expensive car
  I wouldn't buy the biggest house.
  etc.
  More money more problems. (I think)
  
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  Quentin 16 years ago
  
  Go live in Thailand full time and teach orphans everything I know.
  
  Hey wait, that's what I am doing now but I don't have a spare mill.
  
  Anybody got a spare mill so I can do this without the work.
  
  Quentin
  
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KarlWarren

16 years ago

Live off the interest...

Start other businesses from the ground up, with a very small investment. Just to keep myself active and busy.

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Quilst

16 years ago

I see most people would just live from interest...

Must be a great feeling to go each month and just pick up the cash. ^^

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NMP

16 years ago

Put up a hedge trade in Forex, taking % per %. And
do it over and over again. ;-)

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TmSmith

16 years ago

Originally Posted by NMP

Put up a hedge trade in Forex, taking % per %. And
do it over and over again. ;-)

I'm with you on this one, the FOREX market crazy. I know a guy that just quit his $150k/yr job to do the currency trading full time he's been making $600-$1300 a day and he is still learning and only using a $10,000 investment!! Quite risky if you don't know what you're doing but It can be very profitable.

Just my thoughts.

Tommy

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John Rowe

16 years ago

If I had a million dollars I wouldn't have to eat Kraft Dinner. But I would eat Kraft Dinner, I'd just eat more. And I’d buy really expensive ketchup's with it. That's right, all the fanciest ke.. dijon ketchup's.

Mmmmmm, Mmmm-Hmmm

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Lance K

16 years ago

Originally Posted by John Rowe

If I had a million dollars I wouldn't have to eat Kraft Dinner. But I would eat Kraft Dinner, I'd just eat more. And I'd buy really expensive ketchup's with it. That's right, all the fanciest ke.. dijon ketchup's.

Mmmmmm, Mmmm-Hmmm

If I had a million dollars....I'd buy you a monkey!

Haven't you always wanted a MON-KEY???

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macchiavelli 16 years ago

Its easy to reach $100 millior when you have $1m.

I would purchase some real estate.
Then I would create some businesses which I plan on selling in the future.

I would then invest in some stocks and basically build A whole empire untill I break that billion dollar mark.

Joining the BBC is my dream (billionaire boys club!)
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SuzanneH 16 years ago

Originally Posted by Lance K

If I had a million dollars....I'd buy you a monkey!

Haven't you always wanted a MON-KEY???

Glad to know I'm not the only one with the Barenaked Ladies in mind...

If I had a million dollars..... I'd be rich!

For anyone who doesn't get the joke:

Lyrics By XVR27 - Barenaked Ladies - If I Had A Million Dollars

Suzanne
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rosieg 16 years ago

Originally Posted by KarlWarren

Live off the interest...

Start other businesses from the ground up, with a very small investment. Just to keep myself active and busy.

That's exactly what I would do, although I'd wait until I had a million pounds instead of dollars.
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- ShayB 16 years ago
  
  I would split it half and half.
  
  With half, I would do all of the things I want - buy my mom a house and a hybrid car, buy my Dad a new truck (he loves trucks), donate 10% to the church, etc.
  
  With the other half, I would invest it into building a huge Internet biz empire.
  
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  TheVCF 16 years ago
  
  Invest it, Live off of the interest (as many other Warriors have stated), and ...
  
  Retire, which for me means ...
  
  Do whatever I want, whenever and wherever I want!
  
  I hope this helps and Have a Great Day!
  
  - Michael
  
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  Quilst 16 years ago
  
  I would share it with all the warriors - that would be like 11$ for each warrior - LOL
  
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  Christie Love 16 years ago
  
  I would...
  1. Quit my job
  2. Buy a home
  3. Invest the rest
  4. Travel the world for the next 3 months
  
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  Paul Buckley 16 years ago
  
  Anybody seen my waders? It's getting a little deep in here
  
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  Lance K 16 years ago
  
  I'd keep pluggin away. For 2 reasons...
  
  A Million $ really isn't that much money
  
  Fear of boredom - Money isn't my #1 motivator (just a way to keep score)
  
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  Chris_Willow 16 years ago
  
  You know what they say: money attracts money. So I would buy or create a *real world* business, hire some people and make some more money...
  
  Chris
  
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  peteinoz 16 years ago
  
  The idea of living of the interest of mill was a good idea 10 or 15 years ago..
  
  these days that equates to not much above your average income after tax.
  
  That was my goal a long time ago.. that was around $1000 per week clear.. back then that seemed a lot of money. My accountant pointed out to me, as you make more money your tastes and expenses grow..
  
  This is true. as much as you'd like to think your tastes will not change.. when you do have a spare mill sitting in a bank or investments, it is a different world.
  
  e.g do you send your kids to the local school? or send them to a much higher quality school if you have the money?
  
  Do you drive the same old car youve had for years. or upgrade to a more economical and much safer car for your family?
  
  Do you accept overseas holiday/business invitations from friends/colleagues when you have a cool mill? or reply, no I'll stay home thanks for the offer..
  
  People seem to make statements that having a mill will not change them, they'll still be the same. And this is entirely true.. you stay exactly the same person irrespective of your net worth. I think it would be more correct to state. I will not turn into one of those people who go around showing how much money they have.. (generally these people do not anyways, they just like to show they have)
  
  Cheers
  
  Pete
  
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woah316

16 years ago

I'd put 750,000 in the bank... With the rest, get me a house, a car, take a vacation... after i get back from vacation, invest the money and quadruple it.

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ChocolateBiz

16 years ago

One Million Dollars is the eqivilant of $250K just 10 years ago.

While One Million Dollars is still alot of money, it just won't take you as far as you might think.

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KimW 16 years ago

Oh my goodness how 1 million could change my life right now.
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- Midas3 Consulting 16 years ago
  
  Spend half a million on crack, whores and booze, then waste the rest ..... :-)
  
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  leekhinc 16 years ago
  
  I will buy a nice house facing the sea, a nice SUV, the latest HP touchscreen desktop computer, 60" Samsung LCD TV and keep the rest of the money in the bank
  
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  Ricter 16 years ago
  
  Originally Posted by SimonHarrison
  
  Spend half a million on crack, whores and booze, then waste the rest ..... :-)
  
  LOL, I'm wiping my monitor off! Nice
  
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  Aj Wilson 16 years ago
  
  Originally Posted by SimonHarrison
  
  Spend half a million on crack, whores and booze, then waste the rest ..... :-)
  
  Hahaa,..
  
  Sounds like wickd a party...
  Lets hook up and score a High Class brothel
  
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- ezimedia 16 years ago
  
  HI
  
  If I had a million I would get my family and friends out of debt... for life
  
  and after that I would double what I have left... and after 1-2 years I would help people that were in my boat 1-2 years ago.... I would do this for the rest of my life and get these people motivated to help others to get out of debt...
  
  This would not be a free ride... I already have this plan written out....
  
  Tom
  
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Lance K 16 years ago

Originally Posted by ChocolateBiz

While One Million Dollars is still alot of money

It's all relative I suppose.
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Matt Bard

16 years ago

Originally Posted by ChocolateBiz

One Million Dollars is the eqivilant of $250K just 10 years ago.

While One Million Dollars is still alot of money, it just won't take you as far as you might think.

So so right. I would put it away for retirement. Look at it this way, I'm paying my bills right now and enjoying my life and I don't think anyone at the end of their life has ever thought "gee, I have way too much money". ( well Bill Gates might

Matt

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Nixter 16 years ago

So no one here would plough it into an online venture and aim for 100 million?

I think I might be in the wrong business then

Seriously, does anyone think they would be able to turn that million into 50-100 million with any of their ideas (IM or other online ventures)?
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- Alex Sol 16 years ago
  
  PPC - 400-500% ROI.
  I would also move back to Europe.
  
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msj904

Banned 16 years ago

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Banned 16 years ago

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TheRichJerksNet

16 years ago

1 Million Dollars....

* Take $500,000 and help those that are in "real" need.
* Take $300,000 and hire a Top Marketer to train a selected number of people how to make it online.
* Take $200,000 and slap it in the bank and live off the interest of it.

Since I am a simple man and really dont need anything I could live off the interest with no problem because I am already virtually debt free (home paid for, car paid for, have no credit cards nor do I want any credit cards)...

James

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Lance K

16 years ago

Originally Posted by TheRichJerksNet

You won't be "living" off bank interest for very long. With their pathetic rates and adjusting for inflation, you would be dipping into the principal of that $200,000 pretty darn quick. Depending on your age, that may be ok, but you did say that you would live off the interest.

Living off interest sounds sexy. But even sexy can look funny naked. You have to figure in taxes and inflation at a minimum.

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TheRichJerksNet

16 years ago

Hi Lance K,
Would not be a problem at all ... As I said I am a simple man and dont need much, other than normal light bill, food, phone, & internet I have no other bills as I have paid everything off. I dont drink and I dont party.. so no need for money for that.

I drive a 1992 Ford and I will keep my 1992 ford over a brand new car any day of the week. My home is paid for so I have no monthly bank bill.

I am 40 years old as my profile states and life is not about money, there is way more to life then just money. Do I have a desire to be a wealthy beyond anyone's dreams ? Well for one define wealthy for me.. I have no desire to have so much money I dont know what to do with it because the fact is if I had that kind of money 80% of it would be spent on helping "real" people that need "real" help.

Again I am a simple man that dont need much, now does this mean I work for free ? Ofcourse not I do charge fair price in my business...

James

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Lance K

16 years ago

Originally Posted by TheRichJerksNet

Fair enough. But my point is that bank interest is at best equal with inflation. And it's taxable. So if for example you get 4% you're going to be living off of $8,000 each year. Kudos if you can do that! That won't even pay our health insurance for the year.

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Ricter

16 years ago

Originally Posted by TheRichJerksNet

I'm close, but not quite that self-reliant. My farm is paid for, but I have a new car payment. Not counting food, some of which I grow anyway, I have estimated I only need about $7,000 a year for taxes, insurance, repairs, and utilities (water from well). I could cut that a bit by burning wood. I actually live on less than half of what I earn at my job.

So, figuring a conservative and consistent 5% return on $200k, what you say you'd live off of, that's $10k a year. Doable, at least in the short term.

Now, to just live off the interest of the whole million, that's easy!

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TheRichJerksNet

16 years ago

Well I get a little better rate than 4% but what you left out is that $200,000 would be added to my bank account of what I have now. Also honestly my bills are not that much, I do not live a high lifestyle.. I live in comfort and that is perfectly good enough for me.

James

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Lance K

16 years ago

Originally Posted by TheRichJerksNet

Well sure, adding 200k to the pot is different than just living off the interest of the 200k. I understand what you're saying now. Is putting it in the bank the route you would really take? You should invest in some Iowa tax liens and make up to 24% guaranteed.

I see what you're saying though. Sorry for mucking up your intended message.

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TOPGUN08 Banned 16 years ago

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- Lance K 16 years ago
  
  Hey TOPGUN08 didn't you see Allen's post regarding avatars?
  
  Seriously. :rolleyes:
  
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  Kate Carpenter 16 years ago
  
  If only I had $1 million!
  First, I'd hire the criminal defense attorney we need to defend ourselves (my husband & me) against unlawful and erroneous criminal animal cruelty charges that were just filed. A one sentence explanation is: a very sick and jealous person (a medical doctor neighbor) began poisoning our horses (nationally recognize racing Arabians), then called the authorities and reported abuse. This is very serious and we are desperate!
  Then, I'd pay off our debt, spend $ on developing and improving our ranch and developing some web businesses.
  Regarding our attorney situation, if any Warrior is willing to help me set up a defense fund site or blog I would greatly appreciate it! I'm on dial-up, which keeps disconnecting and also drops codes, plus I don't quite have the knowledge, yet, to get it out there and seen. PM me and I'll be happy to further explain our situation.
  Thanks to anyone and everyone!
  
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TheRichJerksNet

16 years ago

lol .. thats cool Lance, you alright dude ..

James

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Peter Bestel

16 years ago

It's funny isn't it. The question, "What would you do if you had a million $ ?" has been asked for decades. Anyone remember 'It's a Wonderful Life' ? As a kid, (supposedly circa 1911) young George Bailey would go into the store and wish for a million bucks.

What's happened to inflation where dreams are concerned? A million US Dollars is about £550,000 GBP. Yeah, a lot of money to have in your pocket, but not enough to live the lifestyle that some folk on this thread think possible. Heck, you wouldn't have much change left over after clearing debts, sorting family/friends, buying a decent house, car etc. Then invest what?

I also think that, despite what you may believe just now, most people would get bored if they just sat around and lived off the interest, even if it was possible.

Come on people, set your goals a bit higher. $10MM is a good starting point. When you get there, then look at your next target.

Peter

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Richard Tunnah

16 years ago

Originally Posted by Peter Bestel

Good post Peter. I saw a program recently in the UK with some financial bods saying it was now difficult to live a great lifestyle on winnings of £1m. They reasoned that by time a person had paid off their mortgage of an average £130K they'd have about £40K to live on a year if putting it in a high interest bank account. Now £40k ($75k) is above the national average UK wage but you'd not be living large on that amount due to increasing cost of living expenses.

Rich

Ps. I'd invest it into property and some forex trading account.

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