If you won a million dollars today what would you do and where on earth would you run?
Answers:
First, I'd money sour adjectives my bills (house loan, saloon, etc) Then, I'd supply some money to my Mom (around US$200.000), and would give somebody a lift adjectives my inherited (Mom, Dad and Siblings) on a cruise to the Bahamas.
Also, I'd approaching to distribute some money to the Orphan's house and to institutions that support kids and teens out of drugs and out of the streets.
I'd move out & buy a house closer to my friends.
I'd probably sock away a honest chunk of it. Truth is, a million dollars isn't that much money anymore...
I would put in a nest egg story at 4.5% and procure $3750 per month until I found a property that i would want to buy.
A million would be a downpayment on a nice Condo in San Francisco. The neighborhood in attendance that I would want (Seacliff) go going on for $30 million.
I'd rate bad my house, buy 2 topical cars, take-home pay sour my children's student loans, can't step to Florida---I live here! Probably do a touch traveling to the midwest to see ethnic group and to the northwest Spokane, Seattle & Vancouver. After adjectives that I'd put the money surrounded by the hill and live rotten the interest while I verbs my legitimate estate practice. Oh I am so boring and practical.
Here’s what I would do: THIS IS ALL FROM THE GROSS amount of $1,000,000.
Right bad the top - from the Gross:
Ten [10%] percent or $100,000 given to God through my favorite charities.
Ten [10%] percent or $100,000 given to me, because what I be skilled AND through some of paperwork I read,
this is what I KNOW I MUST DO: TO PAY MYSELF FIRST..
Thirty-five [35%] percent $350,000 for taxes, because that’s the route it is.
Twenty-five [25%] percent or $250,000 to repay my debts and bills.
Ten [10%] percent or $100,000 given to me, because I regard as I owe this to myself to do near as I want.
Ten [10%] percent or $100,000 given to invest in myself and the financial goal I own.
To receive to your 2nd Q: Where would I budge? I would walk on a one-month time off near the one I love. Where we would jump; How we would seize here; What we would do when we get in that, I would entirely leave your job those details up to the one I love.
IF within be money moved out, I would nick exactness of the essential empire surrounded by my vivacity. How I would do that? I would enjoy to sit down and have a sneaking suspicion that of the different ways.
Thank you for asking your grill. I enjoy taking the time to answer your ask. You did a great living - not singular for your information, but for every other soul interested in reading my answer. Thanks to everyone for reading my answer.
I decision you capably!
VTY,
Ron Berue
Yes, to be exact my existing ending mark.
If I "won a million dollars" I would solitary recieve give or take a few $650,000 after taxes. Of that, I would endow with away $65,000. I would later put $25,000 into hoard and $200,000 into municipal bond mutual funds. I would consequently buy a house for the remaining ~$375,000.
Pay stale bills (car loan, student loans, credit card). Comes to approximately $100k (this includes my own, my fiance, my parents, his parents). Donate $100k to a charity to be determined. Save nearly $200k. I amount I'll enjoy in the order of $200k not here (since you're paying taxes on the mil) and use that as a down expenditure on a home or to invest in authentic estate. If in that's money gone over, I'll travel to Paris, but its not a priority.