What would you do with $1 million?

[Knobby22]

So
I guess when I fly long haul Business class is a waste??

No, just sensible. Business class is great!!
That's living as against owning. Completely different in my view.

I know people who spend all their money on things and don't even enjoy good holidays.

 

[KurwaJegoMac]

Median Household Income in Australia: $66,820
Less Tax: $53,224

Assuming you work from age 25 until age 65 (40 years)

$53,224 * 40 = $2,128,960 earned over your lifetime.

That's a lot of money and doesn't even account for investing.

Putting away $10,000 every year for forty years at a very conservative 5% return (5% after tax) nets you $1,268,397.63. $10K is not a lot of money to put away every year.

Really makes you think...

 

[nunthewiser]

short BHP

 

[Sir Osisofliver]

So
I guess when I fly long haul Business class is a waste??

No. It's built into the travel policy.

 

[nulla nulla]

short BHP

Down to $36.00?

 

[Agentm]

short BHP

lol

and i was thinking about snorting it

great reply..

 

[nunthewiser]

Down to $36.00?

nice low risk levels at current( low%loss on MY definative stoploss point) ....personally think worth a punt and thats where i have been putting a lapdance or 2 and will add

1st main target 39/41 area......

could be wrong and happy to walk away if i am.

but hey i been known to punt on cockroach racing whilst drunk so i wouldnt pay no heed to me

 

[nunthewiser]

lol

and i was thinking about snorting it

great reply..

snortin goes with the turf

 

[ROE]

What would I do with a million

I chuck into the rest of the other millions I made along the way

live in uncle Average suburb standard three bedroom home.

drive well maintained old car and the
freedom and enjoyment of never have to worry about job security and a pay

cheque and that got to beat

fast car and big home with up keep and all the head ache to go with it

 

[nunthewiser]

short BHP

and with using massive amounts of leverage my 1 million is now 647 million.....:

how you guys go?

 

[nulla nulla]

nice low risk levels at current( low%loss on MY definative stoploss point) ....personally think worth a punt and thats where i have been putting a lapdance or 2 and will add

1st main target 39/41 area......

could be wrong and happy to walk away if i am.

but hey i been known to punt on cockroach racing whilst drunk so i wouldnt pay no heed to me

Looks like your short is in the money. Well done, good call.

 

[Reasons]

Median Household Income in Australia: $66,820
Less Tax: $53,224

Assuming you work from age 25 until age 65 (40 years)

$53,224 * 40 = $2,128,960 earned over your lifetime.

That's a lot of money and doesn't even account for investing.

Putting away $10,000 every year for forty years at a very conservative 5% return (5% after tax) nets you $1,268,397.63. $10K is not a lot of money to put away every year.

Really makes you think...

Hi KurwaJegoMac;611964

You are a person of my own heart and thinking. I have been slowly introducing this idea to my own kids for some time now they are old enough to better understand the concept.

There are about 174,000 millionaires in Australia, being defined by at least $US1m of recognised asset classes outside of the the family home and does not include crap like cars, jet skis and other depreciating consumer junk. That is only ~0.8% of our population.

I read the other day that 72% of the wealth of those over 60 is in their family home. As the median house price in Melb and Syd is about $600K, that shows how close the average person/couple is not to this category.

When you consider your calculation and the theoretical relative ease of many people in Australia achieving that status (and then some if there are 2 working) over a person's lifetime with good investing practices, it shows how few have the capacity to execute and hold to simple longterm finance plans.

But, we need company profits to go up and dividends to increase, so it is probably all for the best.

 

[Wysiwyg]

Median Household Income in Australia: $66,820
Less Tax: $53,224

Assuming you work from age 25 until age 65 (40 years)

$53,224 * 40 = $2,128,960 earned over your lifetime.

Putting away $10,000 every year for forty years at a very conservative 5% return (5% after tax) nets you $1,268,397.63. $10K is not a lot of money to put away every year.

Really makes you think...

Really makes me think if I lived in a cave eating Sui Min and painting murals on the walls in my time away from work I could accumulate significantly more.

 

[Agentm]

What would you do with $1 million?


should read

what did you do with your your first million?

 

[Reasons]

What would you do with $1 million?


should read

what did you do with your your first million?

That is rephrased really well - but too confronting for most people.

Considering they have possibly gone through the first million by their early 30's, the 2nd million by their mid 40's and the 3rd million by the time they are 60 even if they are on an average wage. More scarry if they have had 2 wage earners or been paid way above average pay scales.

I am sure there is a special plaque in everyone's honour on the wall of one of Gerry Harvey's money bins.

 

[white_goodman]

Two chics at the same time

 

[prawn_86]

Right now, if i won $1m i would probably take long term leave (or quit if they wouldnt let me) from my job and go to South America and rent a nice apartment over there for a yr or so to just chill-out and then make further decisions after that

 

[jtriganza]

$500k into blue chips and use the margin to run a covered call strategy.

 

[tigerboi]

Re: What should i do with about $850,000

need some serious investment advice myself coming into $850,000 plus life time medical
expenses taken care of, i am confused as to what to do & what way to go.

buy a unit, start a business (risky?)put some into the market?

should i be conservative & maybe put it away & pay myself a annuity

every week.dunno what i should do but ive got til after xmas to decide

all ideas considered...thx in advance TIGERBOI...

 

[So_Cynical]

Re: What should i do with about $850,000

need some serious investment advice myself coming into $850,000 plus life time medical
expenses taken care of, i am confused as to what to do & what way to go.

all ideas considered...thx in advance TIGERBOI...

850K is a lot of money, surely enough to live on for the rest of your life if managed conservatively and with diversification..just spread across 20 stocks it should give a gross (tax free) yield of around 5% = 42+K

Plenty if you already own your own home... probably not enough if you don't.

Depending on your circumstances and wants and desires...you can buy a very nice apartment in the Philippines for about 50K and have a full time, fully qualified medical helper for less than $60 a week.