Half mil: paid for house with a nice sized shop out back, fill it with lathe etc, put some aside for my kid's college, park the rest (I'd say probably $300k) in something where I would just not touch the damn thing till I retire (~15-18 years). Then receive only the income.
In the meantime, continue to work to pay my everyday bills and keep up my toy collection.
Just to be clear - I haven't come into any money, this really is just pure thought exercise.
"You know what I would do if I had a million dollars? I would invest half of it in low risk mutual funds and then take the other half over to my friend Asadulah who works in securities... "
Datsun1500 wrote:Javelin wrote: I'd buy land. Lots and lots of land.It gets you a little over an acre here, even less in other places. Then what do you build the house with?
Silly person, you buy land with crap on it that you can rent out to other people!
I'd pay off the cars I have now and maybe buy a BMW M3.
At this point, (age 22) I'd probably just get a nice used truck/wagon and a S2000 or Z06 and call it a day. The rest would go to starting my life or starting a retirement fund.
Datsun1500 wrote:Javelin wrote: I'd buy land. Lots and lots of land.It gets you a little over an acre here, even less in other places. Then what do you build the house with?
$500k here would get you 150 acres or so. Probably more if you looked hard enough. That's raw land. With raw land you can do lots of stuff. Lease grazing rights, check for oil or natural gas, check for water and sell the water, lease it for hunting, if it's in the right area get wind turbines on it (make lots of coin off that), and the list goes on...
Javelin wrote:Datsun1500 wrote:Silly person, you buy land with crap on it that you can rent out to other people!Javelin wrote: I'd buy land. Lots and lots of land.It gets you a little over an acre here, even less in other places. Then what do you build the house with?
So you end up with one decent house on 1 1/2 acres of land. That's the way it is where Datsun1500 and I live.
two chicks at the same time.....
Seriously I'd buy a descent house with large heated and cooled garage.Then blow some on motorcycles that I have lusted after and a GT3RS.
I dont think my demands are that unreasonable...are they?
Datsun1500 wrote: I would buy you a fur coat, but not a real fur coat
cuz thats cruel
Say goodbye to my debts, buy Three cars: Mustang convertable for SWMBO, a nice fullsize van with towing capacity, and a decent fun car with 4 doors as our shared daily (think WRX wagon or 4 door Civic Si or such) (mostly her) the rest would be invested in property or savings investments.
1 - pay off the house
2 - add enough money to my emergency fund to cover one year's salary
3 - put leftover money into investments
4 - don't touch principle. use some of interest to supplement income
Frame off resto on my '82 Ram. FFR Roadster or a new construction '65 mustang 'vert. Unsure of a new DD. And a bike, maybe an SV650
BMW E9. Been stalking one all my life..buying a good one would give me all that satisfaction I need on the "BUY ALL CARS!" front.
Well, that's not exactly true..I'd also look for a nice 83 Prelude. Had one new, never should have let it go.
Oh, and I forgot that I always wanted a 240z and a 510.
And I sure miss my Triumph GT6+.
Oh, who am I kidding? I've already got Racing Game Disease (an affliction of car guys who play Forza & GT, thinking that just because we own more than 100 virtual cars, we can do the same IRL).
Honestly, a lotto win would be pretty cool for me. No outstanding student/car/anything else loans. House is paid for, but only because I raided my 401k after I got laid off. Taxes gonna be crazy in 2013, I'd use the dough to take care of that. Afterwards, getting everything we own restored. And I have to admit..the stuff about the E9 wasn't a joke. 
If all goes well I'd be found dead at the bottom of a pile of scotch bottles and cheerleaders in a week so I probably wouldn't need a car. My wife would spend the rest on a Fiat 500 convertible and a 911. If I was going to spend it on cars I'd finish my SS, and get either a 962 or 959, and maybe something rediculous like a one off Ferrari.
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