Well it far more easier to again wealth than it is to manage wealth. Wealth is far more than how much money you have in the bank or what type of car you drive. Wealth is about finically security not only for a the day, week, month or year but over you life time.
So if I got a million dollars... I would buy three to four houses as investment properties and rent them out for $1500 to $2000 a month. Three brand new houses each generating you $1500 - $2000 a month totals to be $4,500.00 to $6000 dollars a month passive income... that's $45,000.00 to $60,000 dollars annual income. With three housed generating income all paid off your credit score will explode, and then all you have to do work some bull shit job for a few years to get some fuck off money together and go out an blow it as fast as you earn it. Use your rent income to pay bills and put the rest in savings... buy a 4th to 5th home and by the time your 40 your valued above 2 to 5 million and your free clear and set up for life.
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As boring as it sounds, probably just invest it in some portfolio I believe in. At a very modest 7% a year that is 70 000$ a year without working for it. With normal average being at 10% it is by no means an unrealistic expectation.
So well. Boring, but mostly safe. Of course there are many options on how to reach a good ROI but that is likely one of the simpler methods accessible to nearly anyone.
Pay off debts, buy an EV, buy the powertool set and cat tree I've been eyeing, and save 75% of what remains into my investment accounts (max RRSP then TFSA, then the rest into as high an interest account as I can).
Of the 25% remaining of whatever's left, keep that in my chequing. Friend wants to go out? My treat. Nephews bdays coming up? Guess who gets the new DnD book and that new video game?
Ah, and premium brand cat food for my house panther.
Doing something good for my close family and friends, but majority investing in something that brings me in more money
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Buy fairly large house in rural Canada, with a workshop, pool and greenhouse. Hire a house servant to cook clean and garden.
Start couple of business projects I've got backburnered pending funding, possibly take a mechatronics engineering program at university.
A million would make a major difference, the first one is hard, but after that a clever mind can grow it easily.Find a good investment company and setup a account with them. A million dollars does not buy as much as it use to. So I'd rather use that million dollars to make more money then blow it on things I don't really need.
Invest in some property, exit stage, become a hermit. I have no trouble enjoying my own company & the older I get the more draining being around others seems to be. I already plan to do this, just take me a little longer:)
Pay off the remaining debt I have left, move to Idaho and buy myself a home there and buy another one for my mom so she could live nearby, save $300,000 of it.
Give away. I don’t believe in winning money. it never worked for me.
it seems I have to work hard to every penny… I am happy doing so.Donate it to the Donald Trump re-election campaign.
what about you?If I won $1 million (£809,815) clear off my debts, set enough into a high interest account for my retirement, and then clear off any University debts my nieces have and an equivalent amount to my nephew who has not shown any interest in Uni.
Ten Percent would go to my church I really don’t know what I would do with the rest I’m very frugal so I’d probably let it sit and live off the interest later I’d probably be Intimidated seeing all that money in my savings account
Open my Entertainment company to help others to find their calling in life and also help the less fortunate.
giving donations to youtubers, and make them shocked
Pay off my mortgage and bills. Do a bunch of cool upgrades on my house and property.
Upgrade to a better and bigger house so I have room for a workshop.
Invest it wisely.
Like into my business and another business I've been meaning to buy.Pay off the mortgage on our new property and buy an investment property
Keep it a secret, and see if there's something I might like to buy.
Right now, I wouldn't know what that could be.Buy a couple of flats for myself and invest the rest.
I would share it with the needy, first my family members, next my needy friends, if any. Otherwise I would share with Charitable Organizations ! And the rest I will invest wisely to get a steady monthly/yearly income !
Leave the East Coast so quickly that they wouldn’t even be time for ‘bye Felicia’.
Send it back, don't need a pay cut, nor the hassle.
pay dept put 70% of it in a long term savings plan. and keep living my life as it is with a few extra bucks in my bank account.
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