If you had a million dollars ...

Panasonic DMW-LTZ10 1.5x Teleconverter

08/01/2006 03:22:43 PM · #26

Originally posted by routerguy666:

It's only tough to figure out how to spend the first million. After that it gets a lot easier.

yeah, I guess you could take the whole million and try to buy a convenience store or something, and then be set with a million every year

kari1

Panasonic DMC-FZ20

08/01/2006 03:22:48 PM · #27

I have this dream ... but its more than a mil ... scaling back .. I will do a mil in NZ dollars:

$250,000 (pay off two mortgages on two properties)
$ 50,000 (cars (upgrade) and motorbike)
$100,000 (upgrade house for billiard room and studio and equipment)
$ 10,000 (camera gear - body and lenses)
$500,000 (bank/invest)
$910,000 (subtotal)

$90,000 (playmoney - to travel and do other stuff)

I dream more around the 3 mil where I can retire young :) With only one I would have to continue working.

Kari

08/01/2006 03:23:09 PM · #28

Originally posted by amandalore:

Yeah, there's still quite a bit of undeveloped land up here, like up past Forest Ranch, Oroville, or in the outskirts of some other place here. I live in the cheapest county of California. And if I can't find land here, which I know I can, I will go somewhere else... I just want the land for security purposes, land is always valuable and it will continue to get more and more so as it continues to run out.

And I don't plan on living off interest... I plan to let it grow - right now, you can invest it fairly modestly at about 8-12% interest and inflation is only about 3-5%, right?

see OP, lol, I plan to charter my sailboat, which right now, friends of mine are making about $2,000 per WEEK just working for one, the people who own them are making bank! and if you are your own captain, well, jeesh... a poor girl like me could make out real good for that much income.

Hell, I'm living off of less than $10,000 a year right now, and paying for my own more than full time school career. (of course, you saw the $24,000 debt... but a lot of that is/was not my debt, so hmm??)

For 8-12% interest that is the stock market, (average over 100 year is 11%) trouble is there is past indicators is not guarentee of future results (is the phrase I think they all put at the bottom) and three times in the last 100 years a full decade went by when people at the end only had as much as at the beginning (ie 0% growth).

Now investing in your own business (ie boat) with crew etc... well if you have a head for business you can make a nice profit there. Lots of work but a nice profit.

Canon EF-S 17-55mm f/2.8 IS USM

08/01/2006 03:27:49 PM · #29

well, I'm taking business classes and learning a lot about the stock market and other investing stuff, and I still have 36 more units to take this year before graduating, and it seems to me that investing your money is really about just being smart about it. Diversifying, etc... Of course, I have a lot more to learn, but, meh...

and yeah, totally, I plan to invest a lot during my lifetime into my own businesses... I hate making other people rich with my hard work and crappy minimum wage, lol

FocusPoint

XIAOMI Redmi Note 8 Pro

08/01/2006 03:36:11 PM · #30

No doubt...

I would open a DPC headquarter and have annual meetings. I would have camera store and apparel store for photographers, and a couple of galleries at same location.

Yeap... I don't know how much that would cost, but I would spend a couple hundred grand...

rest, invest to another profitable business :)

Message edited by author 2006-08-01 15:36:33.

idnic

Canon EOS-60D

08/01/2006 03:39:26 PM · #31

I would have one mac-daddy studio and a business manager ... and and and a cabana boy! :P

FocusPoint

XIAOMI Redmi Note 8 Pro

08/01/2006 03:40:43 PM · #32

Originally posted by idnic:

I would have one mac-daddy studio and a business manager ... and and and a cabana boy! :P

I can be your "cabana" ... uhm... guy :P

idnic

Canon EOS-60D

Canon EF-S 17-55mm f/2.8 IS USM

08/01/2006 03:48:46 PM · #33

Originally posted by focuspoint:

Originally posted by idnic:
I would have one mac-daddy studio and a business manager ... and and and a cabana boy! :P

I can be your "cabana" ... uhm... guy :P

LOL A volunteer! Now to go find that million $$$s :D

hanneke

Canon EOS-5D Mark II

Canon EF 24-70mm f/2.8L USM

08/01/2006 03:57:52 PM · #34

sheesh, one million...

I wouldn't know how much I'd spent for everything, but here it goes

- first, I'd give a lot of the money to charity. Greenpeace, Amnesty International, WWF, some small Dutch charity founds, etc.
- I'd give the home where my grandmother lives a big cheque, so that they can have a home when they're gonna make a car-parc underneath the building.
- I'd buy myself a new car (mine sucks)
- I'd buy a place where I could make myself a nice studio with the space to make a gallery
- some equipment. didn't figure out what exactly ;-)

would that be enough?

redsunphotography

Canon EOS-350D Rebel XT

Canon EF-S 18-55mm f/3.5-5.6 II

08/01/2006 03:57:56 PM · #35

150k to pay off my existing mortgage.
50k to build a nice garage, make my basement walkout, redevelop, new fence and minor landscaping. Redo ensuite bathroom, add a third bathroom, maybe build a couple bedrooms in the second basement, or just finish it off and make it one big room.
100k to pay off my parents mortgage and do some minor upgrades.
35k to pay off my in-laws mortage and finish their second basement and do some minor upgrades.
300k down payment on a 5 acre plot of land with a 2500 square foot house.
50k to build a 2000 square foot facility to use half as a studio, and half as a fish-house. (Including materials for studio and fish tank)
10k to build a very secure fence to keep my dogs in.
42, 140 for a semi-packed full of features Mini Cooper S Convertible for myself.
50k for my wife to buy herself a car
15k for a countercurrent swimming machine/pool in my basement/gym.
20k cash to my parents.
20k cash to my in-laws.
7860$ to my brother in law.
15k to spend on my friends however I see fit.
15k for my wife to spend on her friends however she sees fit.
10k spending money for myself.
10k spending money for my wife.
The remaining 100k to sit in the bank.

I am assuming my parents would either build a small house on my land, or buy a small trailer/modular home to live in, and rent out their house, and easily live the rest of their lives living off the income from the rented home and regular retirement money. My in-laws probably wouldn't move out of their house but would be welcome to do the same.

Given current real estate prices, I'd probably have a 200k mortgage that would be paid off easily in about 5 years due to regular income from my wife and my own job, as well as money from renting out our old home.

Some people would just never work again, but we both agree we like our work and would keep working. Once the new house was completely paid off, we'd just have that much more money to put away into savings.

-Hideo

love

Canon EOS-500D Rebel T1i

Canon EF-S 18-55mm f/3.5-5.6 USM

08/01/2006 04:08:25 PM · #36

I'd give 3/4 of it away ...anonymously of course..

Message edited by author 2006-08-01 16:09:03.

FocusPoint

XIAOMI Redmi Note 8 Pro

08/01/2006 04:09:23 PM · #37

Originally posted by capturedinprint:

I'd give 3/4 of it away ...anonymously of course..

riiiiiiiiight ;)

love

Canon EOS-500D Rebel T1i

Canon EF-S 18-55mm f/3.5-5.6 USM

08/01/2006 04:10:13 PM · #38

it's true...some people get more out of giving

Originally posted by focuspoint:

Originally posted by capturedinprint:
I'd give 3/4 of it away ...anonymously of course..

riiiiiiiiight ;)

08/01/2006 04:27:50 PM · #39

Originally posted by capturedinprint:

it's true...some people get more out of giving

Originally posted by focuspoint:

Originally posted by capturedinprint:
I'd give 3/4 of it away ...anonymously of course..

riiiiiiiiight ;)

My husband is one of them... the first thing he mentioned was a few charities :-)

noodleboy

Pentax DA 18-55mm f/3.5-5.6 AF

Canon EF 50mm f/1.8 II

08/01/2006 04:44:18 PM · #40

with a million, hell. VAGAS HERE I COME!!!

vxpra

Pentax K100D

08/01/2006 05:11:53 PM · #41

A Million dollars. Hmmmm, well I'd buy three lots here in Durango. Last year land prices went up 32% (for mountain land) I'd turn those over in a year take my 1.3 million roll it into more land and then take my 1.7 put it into the bank at 5%. Live off 50K and roll 40K over into the principal amount.

Mulder

Canon EOS-350D Rebel XT

08/01/2006 05:15:31 PM · #42

It's interesting how many stated they would put such a large sum in a bank account...isn't it true that a person is actually LOSING money while it's in the bank? (due to such low interest rates and inflation)

I think I'd spend some to buy a house and some land, and set aside enough to pay for college and a few cars (only 19) as well as to travel. And then I would just invest the rest. Retiring at such a young age wouldn't work for me. I actually 'need' work to keep busy, otherwise I would get so bored. And really, 1 million wouldn't last that long if all you did was travel and buy things....

Neuferland

Google Pixel 2

08/01/2006 05:16:43 PM · #43

I would pay the bills and blow the rest, life is short, live it.

Deannda

Nikon AF-S DX Zoom-Nikkor 16-85 f/3.5-5.6G ED VR

08/01/2006 05:25:12 PM · #44

tell ya what, one million is not enough, lol, never thought I'd say that...

If I win the lottery, I will spend the first million how I said in the OP, and then use the rest to travel. I want to go everywhere, so what I'll do is any DPCer who wants to put me up for a week, I will buy them a new lens of their choice (keep it reasonable), and pay for all the touristy vacation type stuff they take me out to do (ie: everyone's lunches, souvenires, tickets, entrance fees, etc)

and I'll just keep moving from one DPCer to the next - also, you would all be welcome to a courtesy charter on my sweet boat if you pay for your plane tickets

Sound good?

talmy

Nikon D300s

08/01/2006 05:41:05 PM · #45

Being 57, I'd retire.

08/01/2006 05:42:27 PM · #46

Originally posted by Mulder:

Traditionally yes, but banks have started offering different kinds of accounts. It really depends on what interest rates you get for your money, and what rates inflation is running at. I have three morgages (on three different properties) and they are all at bank rates below prime, once upon a time, prime was considered the best you - average joe customer - could do.

08/01/2006 05:44:31 PM · #47

Originally posted by amandalore:

Sounds great, were do I sign up :-)