If you had a million...

by Quilst 46 replies
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?
#main internet marketing discussion forum #dollars #milion #million #question
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  • Profile picture of the author Steven Wagenheim
    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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    • Profile picture of the author Quilst
      Originally Posted by Steven Wagenheim View Post

      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
      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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    • Profile picture of the author Andy
      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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  • Profile picture of the author KarlWarren
    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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    • Profile picture of the author Quilst
      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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      • Profile picture of the author NMP
        Put up a hedge trade in Forex, taking % per %. And
        do it over and over again. ;-)
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        • Profile picture of the author TmSmith
          Originally Posted by NMP View Post

          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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          • Profile picture of the author 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
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            • Profile picture of the author Lance K
              Originally Posted by John Rowe View Post

              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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              • Profile picture of the author macchiavelli
                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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              • Profile picture of the author SuzanneH
                Originally Posted by Lance K View Post

                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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    • Profile picture of the author rosieg
      Originally Posted by KarlWarren View Post

      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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      • Profile picture of the author ShayB
        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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        • Profile picture of the author TheVCF
          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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        • Profile picture of the author Quilst
          I would share it with all the warriors - that would be like 11$ for each warrior - LOL
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          • Profile picture of the author Christie Love
            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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            • Profile picture of the author Paul Buckley
              Anybody seen my waders? It's getting a little deep in here
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              "Wise men speak because they have something to say; fools because they have to say something." -Plato

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            • Profile picture of the author Lance K
              I'd keep pluggin away. For 2 reasons...
              1. A Million $ really isn't that much money
              2. Fear of boredom - Money isn't my #1 motivator (just a way to keep score)
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              "You can have everything in life you want if you will just help enough other people get what they want."
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              • Profile picture of the author Chris_Willow
                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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              • Profile picture of the author peteinoz
                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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  • Profile picture of the author woah316
    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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    • Profile picture of the author 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.
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      • Profile picture of the author KimW
        Oh my goodness how 1 million could change my life right now.
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        • Spend half a million on crack, whores and booze, then waste the rest ..... :-)
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          • Profile picture of the author leekhinc
            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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          • Profile picture of the author Ricter
            Originally Posted by SimonHarrison View Post

            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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          • Profile picture of the author Aj Wilson
            Originally Posted by SimonHarrison View Post

            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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        • Profile picture of the author ezimedia
          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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      • Profile picture of the author Lance K
        Originally Posted by ChocolateBiz View Post

        While One Million Dollars is still alot of money
        It's all relative I suppose.
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        "You can have everything in life you want if you will just help enough other people get what they want."
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      • Profile picture of the author Matt Bard
        Originally Posted by ChocolateBiz View Post

        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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        • Profile picture of the author Nixter
          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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      • Profile picture of the author TheRichJerksNet
        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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        • Profile picture of the author Lance K
          Originally Posted by TheRichJerksNet View Post

          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
          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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          • Profile picture of the author TheRichJerksNet
            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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            • Profile picture of the author Lance K
              Originally Posted by TheRichJerksNet View Post

              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
              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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              "You can have everything in life you want if you will just help enough other people get what they want."
              ~ Zig Ziglar
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            • Profile picture of the author Ricter
              Originally Posted by TheRichJerksNet View Post

              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
              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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              • Profile picture of the author TheRichJerksNet
                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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                • Profile picture of the author Lance K
                  Originally Posted by TheRichJerksNet View Post

                  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

                  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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                  • Profile picture of the author TOPGUN08
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                    • Profile picture of the author Lance K
                      Hey TOPGUN08 didn't you see Allen's post regarding avatars?

                      Seriously. :rolleyes:
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                      "You can have everything in life you want if you will just help enough other people get what they want."
                      ~ Zig Ziglar
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                  • Profile picture of the author TheRichJerksNet
                    lol .. thats cool Lance, you alright dude ..

                    James
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                    • Profile picture of the author Peter Bestel
                      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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                      • Profile picture of the author Richard Tunnah
                        Originally Posted by Peter Bestel View Post

                        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
                        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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