Current Events > You get two million dollars tax free.

(+) Yeah! (+)

What are you doing with it?

Fixing my families house

Probably buy a couple more oppai mousepads

Probably spend most of my time thinking it's too good to be true and/or comes with a major attached string.

Add it to the retirement fund.

You people rude. No one ever asks tc how they would spend it.

id put most of it in real estate and live off the rent

CE yacht orgy party

I mean, all you have to do is set up a trust with a lawyer giving it to who ever gives them the "secret passphrase" or somethign like that. Even in the poorest country you can scrimp together enough money to send a letter or make content with the lawyer in some way.

pogo_rabid posted...

I mean, all you have to do is set up a trust with a lawyer giving it to who ever gives them the "secret passphrase" or somethign like that. Even in the poorest country you can scrimp together enough money to send a letter or make content with the lawyer in some way.

Wrong topic

SSJGrimReaper posted...

CE yacht orgy party

Ewww

Alteres posted...

Ewww

welp there goes your invite

Buy a bigger house and chill until death

Ok

Giving $100 for each poster in this topic

Hiring a financial investor, and then I know a few of you are in shitty spots and need help moving out or something.

Dunk the majority into index funds...

That's not really enough to build my ideal home, so I guess I just refurbish my current home.

Save for retirement.

pay off debts
send my parents on a really expensive vacation
pay for my sisters' wedding
buy a 4-pack of really expensive craft beer
invest the rest

pay off mortgage, pad retirement account, and then probably retire or semi-retire in four to five years when my equity fully vests

Pay off debts. Save the rest for retirement

Daremo posted...

Dunk the majority into index funds...

That's not really enough to build my ideal home, so I guess I just refurbish my current home.

What would your dream home be and where would you be building it? No judgment, just genuinely curious.

Buy a house in Lamaes and fully remodel and soundproof it. Then buy a really nice electric scooter with shock absorbers.

Ideally, I'd invest some of it and pay off the mortgage on my house.

But in reality, I'd find a way to blow it all. Sad thing is I could totally see myself making 2mil disappear from my bank account within 6 months.

how come no one would just buy houses and live off the rent. Hire a property manager and create an llc. Headache free.

you could buy 5 $300,000 homes

5 x $310,000 = 1.55 million
leaves you with $450,000 in your bank account (you can always sell these homes later too of course)

you could get at least $1800 a home
5 x $1800 = $9,000 a month

save $1,000 for various repairs
pay taxes

you're earning $78,000 a year or $6,500 a month. Go pursue your dream job without stress of income and watch your housing empire appreciate. Use the $450,000 for whatever fun you enjoy.

Hire someone to help me invest it properly then retire when I hit 50

I immediately sit down and file a supplementary W2G IRS form for my winnings.

LSGW_Zephyra posted...

Hire someone to help me invest it properly then retire when I hit 50

im self taught. You can teach yourself surprisingly quickly

divot1338 posted...

I immediately sit down and file a supplementary W2G IRS form for my winnings.

Out of habit? Topic title says tax freed

Putting it away and retiring.

Yawn_Master2 posted...

Out of habit? Topic title says tax freed

You try and explain that to the IRS.

Spend about 100k, maybe 150k tricking out a sweet ass home on wheels situation and keep living life how I am now for the most part, just with less concern about income and more trips.

party_animal07 posted...

What would your dream home be and where would you be building it? No judgment, just genuinely curious.

A grid adjacent high efficiency ranch complex/solar farm, with a largish underground component for parking and such, on a fairly large parcel of land with an artificial fishing lake. Somewhere south of the snow line. Or north of the snow line if I find meself in the southern hemisphere.

Paying off my debts. Moving in with my partner early. Budget modestly and maybe travel every once in a while. I won't invest it and I won't stop working for a paycheck

Dungeater posted...

Paying off my debts. Moving in with my partner early. Budget modestly and maybe travel every once in a while. I won't invest it and I won't stop working for a paycheck

This to a "T".

Love money as much as the next guy but I already budget pretty hard without 2 mil.

Yawn_Master2 posted...

how come no one would just buy houses and live off the rent

Because I'm not a scummy landlord.

I'd spend a million or so on a nice home, then invest the rest. Probably quite my stressful job and do something chill that's enough to pay the bills, since my retirement's pretty much taken care of at this point.

SSJGrimReaper posted...

welp there goes your invite

To paraphrase the late great Rodney Dangerfield: I would never attend any orgy that would invite me.

Yawn_Master2 posted...

how come no one would just buy houses and live off the rent.

Rent seeking is the epitome of 'money for nothing'.

While some people see that as a good thing, a growing segment of society is getting fed up with those who contribute nothing, and seek to leech off of others with eternal middle manning. They don't want to do it, and they don't want to be subject to it.

Investing is at least contributing to the economy, in theory.

Of course, the companies that need investment funds the least will get the most, particularly with the current idiotic short sighted 'stockholder returns are paramount' philosophy dominating everything nowadays.

Pay off my mortgage

Do whatever home improvements Ive been holding off.

Pay off what little credit card debt I have.

Save the rest for when/if my kids decide to go to college.

Bet it all on black

Remodel current home then invest the rest.

I buy this site.

I tell you what I'd do, man...

Two chicks at the same time, man

Straight to vanguard and fidelity funds

Succubus costume!

Investing and never working again.

Current interest rates yield like 5.25% or something, just pop that into vanguard or fidelity and make 105k a year doing literally nothing

Praise be SPAXX

Yawn_Master2 posted...

how come no one would just buy houses and live off the rent. Hire a property manager and create an llc. Headache free.

you could buy 5 $300,000 homes

5 x $310,000 = 1.55 million
leaves you with $450,000 in your bank account (you can always sell these homes later too of course)

you could get at least $1800 a home
5 x $1800 = $9,000 a month

save $1,000 for various repairs
pay taxes

you're earning $78,000 a year or $6,500 a month. Go pursue your dream job without stress of income and watch your housing empire appreciate. Use the $450,000 for whatever fun you enjoy.

I already have a property thats rented out through a property manager, and I hate it. Its definitely not headache free.

I would do the same as Starks, add it to our investments. Maybe I would take some for our home remodel, around $500k. (We havent got any bids yet, so thats a rough estimate.)

Pay off mortgage, pay for planned expansion up front, replace the garage for starters.

Maybe a newer vehicle but not a brand new one.

Look into high interest accounts or some investing but I'm likely not quitting my day job. Being debt free means I could max out retirement contributions each year and retire much earlier.

Pay off and renovate the house, buy a Porsche 911.

Yawn_Master2 posted...

how come no one would just buy houses and live off the rent. Hire a property manager and create an llc. Headache free.

steep price for highly illiquid capital means opportunity costs, hidden costs and high overhead, environmental risks, unexpected headaches, marginal roi. you're better off investing in a 3-4% div yield index fund unless you're operating at serious scale.

Take it, put it into CD's that generate 5% return, generating $100k per year. Even paying the capital gains tax, thats $85k per year for life.