Australian (ASX) Stock Market Forum

If You Suddenly Had a Million Bucks

Jump to new
wayneL

wayneL

VIVA LA LIBERTAD, CARAJO!
Joined
9 July 2004
Posts
25,821
Reactions
13,034
Didn't really know which from to put this in so decided on here. @Joe Blow change as appropriate.

I've been following Simon Dixon who is more of a cryptocurrency dude. He has a series starting about how he would invest $1000000 of his own money right now.

I haven't listened to the material yet, I thought it would be an interesting thought experiment here.

Disclaimer: not asking for financial advice and nobody should be giving explicit financial advice... So for entertainment purposes only.

But let's say you ran into a million dollars, whether by inheritance, flogging a property, being a Covington kid and winning a libel suit, whatever.

Just for sh¹ts and giggles, what would you do with it?
 
wayneL said:
Just for sh¹ts and giggles, what would you do with it?
Click to expand...

Interesting question young Wayne :happy:

I remember a few weeks ago when VML was still somewhere between 012 and 015, I told myself I should sell everything and put it all on VML because I could not possibly lose and I would end up wealthy not too far down the track!

I already owned quite a few at that stage, but didnt take my own advice because diversification and spreading the risk is the smart/sensible way of trading of course!:inpain:

Had I done what I saw as a low risk "trade" then, I would probably be able to retire now! But realistically, putting the house on a Spec is ALWAYS risky... so I behaved, lol.

Should've Could've Would've ...... No risk, no prize ..... If your gut is reliable, follow your gut!;)

ps If I had a $million right now, I would buy a nice camper van and trek my way around the country and do whatever I goddamn felt like, lol.

Cheers.
 
All on black at the casino?? Maybe red.

No a bunch of ETFs in different asset groups and countries

If you stumble across a bunch of money, set it up to live a comfortable life.

Iggy
 
So_Cynical said:
With 5 minutes of thought, i would retire immediately instead of waiting another 11 months and buy a nice house at Yarrawonga, a little back from the water and a jet ski for giggles, 50K each in AFI, VAS, ANN, HBRD, NCM, IRE, QUB.

This place will do. https://www.realestate.com.au/property-house-vic-yarrawonga-134125842
Click to expand...
Yarrawonga, jeez use Australians have funny names, then I looked on the map and thought $hit I stayed near by at Yackandandah, when I picked up a caravan in Wodonga.:D Nice area.

I already have the house, car and bike, so it would be for income. Like you AFI, VAS, WES, NAB, CWY a few specs and probably $200k slush fund.
 
I would just add to my existing holdings, most likely I would split it $300k each into FMG, Tesla and Sydney Airport.

Given that I am already financially free I would use the remaining $100k to take my parents and in-laws on a holiday.
 
Residential rental property. Still brings the best returns for the lowest risk. Unlikely to depreciate.
 
A million isn’t what it used to be
Will generally help you to own a home
or if you have one set you up for a comfortable
life .Other than that there won’t be a lot left that
wont be used personally.

I feel the bigger question is

” What would you do with a Million in excess funds”

Personally I put it back into the people who work for me.
by giving them the vehicle To help them achieve their own
dreams. 4 have freeholded their own homes Many have paid
off interest only loans for decent homes. No one is on an award rate
everyone who puts in excellent effort gets a bonus from $50 to $1000.

For me to see a passion for what I started and they are transitioning
toward an exiting future is a fantastic reward.
I have loyalty , The best in the industry who protect our reputation.
They own it! ———is worth more than the mounting $ s in the Company

Win —- Win
 
SirRumpole said:
Residential rental property. Still brings the best returns for the lowest risk. Unlikely to depreciate.
Click to expand...
I would agree if i had not my french experience.
As part of this Reset and general move to the left, the landlord becomes evil, the tenant untouchable, the squatter untouchable and the rent government fixed.
If you believe this will never happen in Australia, go ahead otherwise sell your ip.
I have just sold my last commercial IP after a 2y wait...
Real estate is unflexible, fixed so easy target for taxes, buy for your ppor, your own holiday or retirement pad if you want but i would not recommend RE as a long term investment in 2020 in Australia.
I am interested by others 'view on the million question.
Not so much if it is million extra, then yes do good,save babies furry animals or help family:
More, now you sold, yes i stopped working, where do you put the cash..
 
I'd do the rounds of the research labs and see if there's a project that needs a financial boost to accomplish something substantial. I'd want to be involved and know that my donation is being used to assist the research not end up in general funds.
 
qldfrog said:
I would agree if i had not my french experience.
As part of this Reset and general move to the left, the landlord becomes evil, the tenant untouchable, the squatter untouchable and the rent government fixed.
If you believe this will never happen in Australia, go ahead otherwise sell your ip.
I have just sold my last commercial IP after a 2y wait...
Real estate is unflexible, fixed so easy target for taxes, buy for your ppor, your own holiday or retirement pad if you want but i would not recommend RE as a long term investment in 2020 in Australia.
I am interested by others 'view on the million question.
Not so much if it is million extra, then yes do good,save babies furry animals or help family:
More, now you sold, yes i stopped working, where do you put the cash..
Click to expand...

OK so maybe I should say short term rent via AirBnb would be a better bet ?
 
I'd invest $250k into each of my four kids.
We are set up in the style of "immigrant" investment model, in which the common goal is to build family wealth.
That way I can get snotty little grandchildren who blow their inheritance on drugs and strippers.
 
qldfrog said:
My only IP left, and will keep as is, is a short term rental.its share of issues but the advantages you quoted wo the problems i have seen O/S
Click to expand...
I'm with you on that, did the IP gig for a long time, more trouble than it is worth and now everyone is on the band wagon it is time to get off.

As you, I have one IP left that I use as a weekender, but if I was to rent, it would be airbnb never long term tenant.
Good tenants buy their own place, bad tenants stay. ;)
 
Top