wish STC will read this and repay you in kind if it ever happens, though the super thingy takes the cake lol
How would YOU invest $1 Million?
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wish STC will read this and repay you in kind if it ever happens, though the super thingy takes the cake lol
I'm training mine as best as I can, you hiring yours out?
To many holes in already.
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Posting this question to a trading blog is obviously going to get some seriously biased answers!
I'd just keep doing what I do now - trade systems that I have been trading for some time now. $1 million isn't the sort of money that requires a rethink on approach. Maybe $20 million.....
http://drawdown.blogspot.com/2006/12/revised-yearly-results.html
If I knew what I now now when I was 25 and had access to capital, software and data I would have had a lot of fun with the markets over the last 25 years!
I'd just keep doing what I do now - trade systems that I have been trading for some time now. $1 million isn't the sort of money that requires a rethink on approach. Maybe $20 million.....
http://drawdown.blogspot.com/2006/12/revised-yearly-results.html
If I knew what I now now when I was 25 and had access to capital, software and data I would have had a lot of fun with the markets over the last 25 years!
Id find the best interest rate i could get in a bank then just live off that it would be way more then ive lived on ever and am content now ,if got 8% interest thats 80000 $ a year and with no debt i dont c a problem with that .To many things to do places to c and not enough time ,but this could buy huge amount of time. Nathan
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I supose how suddenly you came into the money - you'd be surprised how "mundane" an amount it is once you get there..... it's just a few more zero's on the end of your trade values or quantities... (although I must say the brokerage gets better and better
)Cheers,
The Y-man
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Apart from the previously mentioned issues of taxation and inflation, which would be serious problems by the time you were 40 let alone by the time you got to your 60's (going on the hypothetical age of the investor in question), $50-$60k a year to live off isn't bad, but it's not the kind of money you could really party with. With all those places to see and things to do, you might not be able to do it in too much style... more kombi and sleeping bag than airlines and 5-star hotels.
Can you get 8% from a bank atm anyway?
I supose how suddenly you came into the money - you'd be surprised how "mundane" an amount it is once you get there..... it's just a few more zero's on the end of your trade values or quantities... (although I must say the brokerage gets better and better
Cheers,
The Y-man
That's very true Y-man, having a million dollars certainly isn't what it used to be. I used to think that if I had that much money, I'd feel rich... but I don't think I've had a day where I've felt even remotely wealthy... maybe when I get to $10 or $20M, then I'll start to feel that I'm on my way at least.
This reminded me of a question I was going to post when the news last week was full of the statistic that there were 134,000 "millionaires" in Australia...or was that "new" millionaires?
It made me wonder how, in that statistic, they classified someone as a millionaire?
Is it total net assets? Assets less debt? Do you include the family home in that valuation? Do you include superannuation assets that are not yet accessible? With house prices in Perth and Sydney being what they are, there are certainly many people living in million dollar homes.
How does everyone define "millionaire"? At what point do you stop, assess and brag to your mum that you are a "millionaire"?
It made me wonder how, in that statistic, they classified someone as a millionaire?
Is it total net assets? Assets less debt? Do you include the family home in that valuation? Do you include superannuation assets that are not yet accessible? With house prices in Perth and Sydney being what they are, there are certainly many people living in million dollar homes.
How does everyone define "millionaire"? At what point do you stop, assess and brag to your mum that you are a "millionaire"?
True.
1million isnt much these days.
But its a start.
100million is the real jackpot, after that you cant get anything else only multiples.
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I'd put it up as a 5% down payment on a $20 million property.
If this is good enough for a $500,000 property, why not a $20 million property...
If this is good enough for a $500,000 property, why not a $20 million property...
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Chip in with a few mates and buy a Caravan Park on the Cape region down South, license to print money (cash persuasion)!.
Brother i knew you would say that!
About 2.3million shares, that would get you >4million shares.
Nudging the top20 Id say.
Awesome!
Endangered species these days bro'.
The park at Yall's would be the ticket, nice leisurely stroll up the path to caves house- beautiful.............
But you'd need a few mates
.
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I'd put some into my next 10bagger, some into my next 5bagger...
Just got to find them
Just got to find them
Problem there Nathan is that if that was in Australia, you'd see about $25~30k of that go to tax, and you'd be fighting inflation
Cheers,
The Y-man
Hi ther ,i relise one would pay tax funny thing is everyone one on that income a year does to, one has to pay tax if earning the money its a fact of life ,i suppose on income it depends on what sort of life ones happy with, if needs to be extravagent to be happy then i agree would need more ,thing is up here in sunny QLD most people i know are on way less then 80000 a year and forking out at least half of that on morgage for house ,car ,kids, ect so really how much do they have to live on a year for the next 25 years even .Just look at all the people that have won million on lotto the majority of them have blown it all by 2 years then back to where they started,thing is a lot of them seem to be on pension or low paid jobs so for them a no brainer at the very least would be for them to put in bank till sort out a better option they would be on way more then they had per year including tax .On the 8 % its just a figure i put out there ,im sure if shopped around with banks and said has a million to in vest they would come up with about that figure ,im only surmising but maybe some one with a million invested could tell us for sure .Nathan
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I always assume it is net worth. Some people go so far as to say net worth not including super, and also if you are married, you should really have a net worth over $2m (i.e. $1m each).
You never brag to your mum (assuming she is not as wealthy as you) - as the following will happen:
1. you are now rich enough to support all you siblings who happen to be big spenders
2. she will tell all her friends and relos - who will suddenly appear at your door
Cheers,
The Y-man
