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What would you do with $1M cash?

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MrBurns

Joined
6 September 2008
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Ok here's a mental exercise for you, you have no debt and $!M in the bank, what do you do with it.

Leave it there.

Borrow another $2M and buy commercial property and bet on the market going well and your tenant staying put.

Buy 2 Porsche Turbos and a world trip

Put it on red.

Over to you, how do you make it GROW

NOTE to GG you'll have to pretend someone stole the other $490M from your account
 
I would do exactly the same thing that I would do with 10000 cash, invest it in good qualtiy stocks...... And don't touch it..... For at least 15years
 
It depends whether i'd won it or earned it.

If i'd won it, i would buy my parents a car, myself a new car, buy a unit and use the rest for trading.

If i'd earned it, i would spend 700k on a unit, use 250k for trading and put 50k in the bank. The cars would have to wait!
 
$400K invested in blue chip shares with a current yield of 12%+ fully franked;
$350K to buy a property on the North Coast of NSW and put a fortress on it;
$100k to buy the missus the diamonds of her choice; and
$150k to allow for the kids school fees , a car upgrade and some good plonk for the cellar in the fortresss.
 
it's all in the timing.

At 35 yrs old, I would be pretty sensible.
At 65 yrs old, I would be pretty reckless.
At 20 yrs old, I was pretty clueless.
 
Pay off a house in a nice suburb 800k
new car 30k
travel 70k
invest 100k
 
Is this after your wife has slept with Robert Redford, or a windfall like inheritance ? j/j.

Personally, a PPOR, freestanding property in a good location.

The rest on black (not red), again j/j (i.e. about the casino).
 
dalek said:
it's all in the timing.

At 35 yrs old, I would be pretty sensible.
At 65 yrs old, I would be pretty reckless.
At 20 yrs old, I was pretty clueless.
Click to expand...

Love it.
 
I certainly would not put it into Australia's superannuation system, which effectively means you transfer control of your money to the Government.

IMHO, if you have money in super, you might want to take advantage of the current "window of opportunity" to get it out tax free before next month's budget. That's what I did in March 2008, one of the best financial decisions I've ever made.

Cheers, badger
 

just out of interest, ive obviously missed the news, for my parents' sake, how can you take it out tax free?
 
I would not pay off any debt...cheap interest rates too enticing for now...
probably buy another commercial property, spend 300,000 as deposit...borrow the balance....
buy more resi props...several...put down 300,000 borrow the rest
keep 100k in cash....
that leaves 300k....
maybe shares.....100k...
renovate existing properties 100k
= 900k expended
I would really have to think about the balance.....
but since I have everything I want or need.....it would just sit in savings until that rainy day...or until I decided what else to invest in

note all of my debt is good debt....no wastage imo...no luxury depreciating assets etc...no waste
income earning..and capital growth...I will turn that into 10 million easy
cheers
 
Isn't putting extra zeroes on the end of it the in thing at the moment ??
 
There's some good commercial properties out there if you look, and if you've got a few agent friends, they have the tenents, all adds up to nice profitand I guess even if you have got the cash you should gear it and do another one to maximise the gain.
THEN it gets risky if yout tenant goes broke.
 
250k to family on both sides (except for the devil sister in law)

Work 8 months on and 4 off in Sunny Australia. The 4 months off go back to Canada a ride the sickest hip deep chowder powder.

Invest the 750k in local and international ETF's, Buy hold and watch selling where appropriate.

And in 15 to 20 years I'll have more than enough to increase the above to 8 months off 4 months on.

Maybe go back to school and do what ever interests me at the time.

Best

G
 
At my stage in life I would probably consider throwing it all at a business option. It sounds aweful, but a lot of opportunities will come up globally in this coming year. Would be interested to set up a business in China with the goal being exporting to Australia. Not cheap Chinese goods, but luxury items.

I believe they will do it cheaper, better and faster than anyone else.

Do you know you can purchase a pre-fab home from Germany that can be delivered in a Container?
 

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did you know that making a home out of seacontainers and lining inside and out is a bloody cheap way of housing

amen to it and bush blocks i say
 
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