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You just made a cool million

  • you set aside 300k to pay the tax man, you got 700k left to invest. How would you preserve the wealth? I know hookers and blow.

    Keeping the sunshiners in check since 2000.

    Tanfan ●

  • Breast augmentation for Natalie Portman.

    Jack Passion ●

  • Severe plastic surgery for your wife, turn her into Kate Upton 2.0 and pimp her out.

    This post has been edited 2 times, most recently by Spartan8Ball on 4/22/2012 at 4:33 AM

    signature image

    Spartan8Ball

  • Keep it under my mattress. Only safe place with the upcoming collapse of civilization/zombie apocalypse.

    spartytom

  • I'll be serious for just this post.

    600K would be in about a 60/40 mix of stocks/bonds. The stocks would have about 40% in S&P 500 type funds, 25% in mid-cap, 20% in small caps, and maybe 15% in some international. Could use standard mutual funds or some ETF's for but this portion, but it would be in a managed account. The bond portion would be in various maturies using some combination of Treasuries or muni's, maybe look at some TIPS, maybe some zero munies, or AAA corporates. Once a year or so, the portfolio would be updated to remain in the 60/40 mix. Would not hire a personal money manager - I'd use standard run of the mill funds, like a Vangard or Fidelity.

    About 50K would buy gold/silver/commodities and would average my costs over time into this. Wouldn't buy all at once - just set the eventual amount at 50K.

    The last 50K would be mine where I become my own hedge manager. Nothing is off limits - go long, go short, use options, buy/sell other currencies (which I know very little, but would throw a few grand at just to learn), commodities, whatever and trade the crap out of it. Vegas money, baby.

    Would not buy any other real estate other than my own home, because I can't stand real estate. Not that it's a bad investment, I just don't like it.

    The rule of thumb is that if I can't expain the investment in less than 15 seconds, it's probably over my head and wouldn't put a dime in it. I've watched too many American Greed shows to see how basically simple investors get in over their head by investing in stuff they don't understand and put WAY too much of their money in just one place looking for the 'perfect' investment. There are no perfect investments, there are only perfect portfolios.

    This post has been edited 4 times, most recently by Frank Ricard on 4/22/2012 at 5:16 AM

    Frank Ricard

  • Buy 1% of 247 since it is now worth millions

    Brodson ●

  • Become completely debt free, then invest and spend some.

    A mil may actually be better than, say, 200 mil, cause you still have to use your head.

    Carolina Sparty

  • spartytom said...

    Keep it under my mattress. Only safe place with the upcoming collapse of civilization/zombie apocalypse.

    In that scenario you would just be keeping it for kindling. Probably want to buy survival gear and other crap.

    Harry Callahan

  • Tanfan said...

    you set aside 300k to pay the tax man, you got 700k left to invest. How would you preserve the wealth? I know hookers and blow.

    You know you want 1000s of AAPL, so do it and start writing covered calls; then take the rest for your upcoming state attorney campaign so you can straighten things out down there.

    FIJI239 81 ●

  • Buy two blocks worth of land in Detroit and redevelop it. Renovate existing housing stock and supplement it with modern rowhouse infill and a corner bar. The tax breaks are great and the return would be pretty good over time.

    signature image

    tRCMB's resident Wayne State Warrior and Sam's Club Spartan fan.

    fishrose

  • Frank Ricard said...

    I'll be serious for just this post.

    600K would be in about a 60/40 mix of stocks/bonds. The stocks would have about 40% in S&P 500 type funds, 25% in mid-cap, 20% in small caps, and maybe 15% in some international. Could use standard mutual funds or some ETF's for but this portion, but it would be in a managed account. The bond portion would be in various maturies using some combination of Treasuries or muni's, maybe look at some TIPS, maybe some zero munies, or AAA corporates. Once a year or so, the portfolio would be updated to remain in the 60/40 mix. Would not hire a personal money manager - I'd use standard run of the mill funds, like a Vangard or Fidelity.

    About 50K would buy gold/silver/commodities and would average my costs over time into this. Wouldn't buy all at once - just set the eventual amount at 50K.

    The last 50K would be mine where I become my own hedge manager. Nothing is off limits - go long, go short, use options, buy/sell other currencies (which I know very little, but would throw a few grand at just to learn), commodities, whatever and trade the crap out of it. Vegas money, baby.

    Would not buy any other real estate other than my own home, because I can't stand real estate. Not that it's a bad investment, I just don't like it.

    The rule of thumb is that if I can't expain the investment in less than 15 seconds, it's probably over my head and wouldn't put a dime in it. I've watched too many American Greed shows to see how basically simple investors get in over their head by investing in stuff they don't understand and put WAY too much of their money in just one place looking for the 'perfect' investment. There are no perfect investments, there are only perfect portfolios.

    Well done.

    Keeping the sunshiners in check since 2000.

    Tanfan ●

  • make it rain at the strip club.

    y2kMgrad ●

  • I'd first talk with my husband's uncle, because he knows stocks and is an accountant for some major millionaires. I would pay off my debt, buy a house, invest what I can, and go on a nice 2 week vacation somewhere.

    Dendrobates ●

  • Preserving wealth and growth/income are two different things. Not enough info.

    LP

  • Frank Ricard said...

    I'll be serious for just this post.

    600K would be in about a 60/40 mix of stocks/bonds. The stocks would have about 40% in S&P 500 type funds, 25% in mid-cap, 20% in small caps, and maybe 15% in some international. Could use standard mutual funds or some ETF's for but this portion, but it would be in a managed account. The bond portion would be in various maturies using some combination of Treasuries or muni's, maybe look at some TIPS, maybe some zero munies, or AAA corporates. Once a year or so, the portfolio would be updated to remain in the 60/40 mix. Would not hire a personal money manager - I'd use standard run of the mill funds, like a Vangard or Fidelity.

    About 50K would buy gold/silver/commodities and would average my costs over time into this. Wouldn't buy all at once - just set the eventual amount at 50K.

    The last 50K would be mine where I become my own hedge manager. Nothing is off limits - go long, go short, use options, buy/sell other currencies (which I know very little, but would throw a few grand at just to learn), commodities, whatever and trade the crap out of it. Vegas money, baby.

    Would not buy any other real estate other than my own home, because I can't stand real estate. Not that it's a bad investment, I just don't like it.

    The rule of thumb is that if I can't expain the investment in less than 15 seconds, it's probably over my head and wouldn't put a dime in it. I've watched too many American Greed shows to see how basically simple investors get in over their head by investing in stuff they don't understand and put WAY too much of their money in just one place looking for the 'perfect' investment. There are no perfect investments, there are only perfect portfolios.

    U got trolled roflmao

    Walter_Sanchez

  • Pay off our 500k in student loans and put the rest in a checking account to do whatever i want without worrying about spending money for 2 years. Now that I'm back to zero every dollar I earn at work will be mine. That will be happiness.

    Stils ●

  • i would buy a bunch of tv time to expose amberlamp chasers like tanthemanfan.

    This post was edited by P Rob on 4/22/2012 at 8:41 AM

    P Rob ●

  • Carolina Sparty said...

    Become completely debt free, then invest and spend some.

    A mil may actually be better than, say, 200 mil, cause you still have to use your head.

    i would spend every single dime on the only logical answer....

    ....33 black

    signature image signature image signature image

    East Lansing- A Drinking Town with a Football Problem

    tLonelyStoner

  • Turn it over to federal government to pay my fair share lol

    This post was edited by Green Note on 4/22/2012 at 10:33 AM

    Green Note ●

  • Listen to "A Milli" by Lil Wayne.

    Final Countdown ●

  • ~Stils~ said...

    Pay off our 500k in student loans and put the rest in a checking account to do whatever i want without worrying about spending money for 2 years. Now that I'm back to zero every dollar I earn at work will be mine. That will be happiness.

    You have 500k in student loans??? That is crazy.

    lars

  • lars said...

    You have 500k in student loans??? That is crazy.

    Shit. I hope he makes a lot and just doesn't have a couple crap degrees from somewhere like a NYU in journalism and psychology.

    Harry Callahan

  • fishrose said...

    Buy two blocks worth of land in Detroit and redevelop it. Renovate existing housing stock and supplement it with modern rowhouse infill and a corner bar. The tax breaks are great and the return would be pretty good over time.

    700k would probably be enough to pay off all the right people in Detroit to build something like that.

    Always Smooth.

    Jim Shorts

  • Ok, why only 30% for the IRS?? Wouldn't that put you in the higher tax bracket, that I thought was around 36%?? I'm not quite ballin like you yet, so forgive the stupid question.

    Clearly, the answer is to give your wife $10,000, tell her have a good vacation, and invite the boys for a weekend in Vegas. Then the strippers and blow....

    VanWilder ●

  • I would apply for a Bridge Card.

    Big Ten Referee ●

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