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Posted: 7/23/2014 6:57:16 AM EDT
[#1]
If I had $1M to invest, I'd buy ten $100k houses and rent them out. Doesn't buy much of a house where I live, but they should rent for $750-800/mo. That'll bring in 90k a year. So I keep working my job and save the rent to buy another house at the end of the year.
Right now I'm 34. If I buy another rental property in the same range every year until I turn 50, I'll have 26 rental houses. Should bring in $241k/yr. I can retire pretty darn comfortably on that. And if I get tired of dealing with it all, I can sell the houses. If something stupid happens and they don't appreciate in 16 years, they're still worth $2.6M. |
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Posted: 7/23/2014 7:01:54 AM EDT
[#2]
What if you only came really close to winning? I came really close once.
Now I'm not sure if I should quite my job or not- I'm totally confused by my quagmire. |
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Posted: 7/23/2014 7:14:01 AM EDT
[#3]
I wouldn't pay off all my debts. Find something better to put the money in and keep some debt at sub 5% interest rates. The problem with this is that it's difficult to consistently find investments that pay higher returns than the cost of your debt. When you have debt, you're at the mercy of your creditors. Being debt-free gives you a great feeling of independence. I can understand keeping some debt if you need the liquidity. But the original question was what to do with a large windfall that would exceed your day-to-day needs. |
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Posted: 7/23/2014 8:02:20 AM EDT
[#4]
wife=half
the rest...off to vegas...hookers and blow...party... dead in 6 months. none of this "savings" crap needed... |
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Posted: 7/23/2014 8:47:32 AM EDT
[#5]
Quote HistoryQuoted:
Short of putting all your money into Bitcoins and then placing them in a brain wallet, there is literally no such thing as "can't be stolen". A government that can raid your bank account can also come knock down your door and take your gold or seize your land. You're objective is wrong. The key then is not to avoid all risk, but to diversify so that getting hit in any one area doesn't sink you. Cash, Stocks, Bonds, Gold, Land...do all of it if you are that worried about loss. You can also diversify within a single asset class. There is nothing that says you can't keep stocks and bonds with several different institutions. Quote HistoryQuoted:
Quoted:
Let's say you get an even million dollars. Obviously, you have to initally deposit the check at the bank and they are NOT going to give you cash. So where do you move the money so it can't be stolen by the government like happened in Cyprus? Short of putting all your money into Bitcoins and then placing them in a brain wallet, there is literally no such thing as "can't be stolen". A government that can raid your bank account can also come knock down your door and take your gold or seize your land. You're objective is wrong. The key then is not to avoid all risk, but to diversify so that getting hit in any one area doesn't sink you. Cash, Stocks, Bonds, Gold, Land...do all of it if you are that worried about loss. You can also diversify within a single asset class. There is nothing that says you can't keep stocks and bonds with several different institutions. Thank you. Probably the best answer yet. |
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Posted: 7/23/2014 8:57:54 AM EDT
[#6]
Quote HistoryQuoted:
quality guns, ammo, gold, real estate FPNI Also, what's sad is that if you take the lump sum, that $1,000,000 is about $250,000 once the tax man is finished raping you. |
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Posted: 7/23/2014 10:31:41 AM EDT
[#7]
Quote HistoryQuoted: This except gold. What the fuck are you going to do with gold when everyones broke? Quote HistoryQuoted: Quoted: Quoted: Quoted: quality guns, ammo, gold, real estate This!........... This except gold. What the fuck are you going to do with gold when everyones broke? |
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Posted: 7/23/2014 10:37:21 AM EDT
[#8]
Either motherfuckin bullet storm or motherfuckin cthulhu.
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Posted: 7/23/2014 5:52:03 PM EDT
[#9]
You don't have to look to Rhodesia to see a government taking land- just look to the south during reconstruction. Taken via inflated punishment taxes.
Good luck protecting an asset in the US from the FSA. Your white privilege sickens them |
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Posted: 7/23/2014 5:59:44 PM EDT
[#10]
Quote HistoryQuoted: They can take your land, see Rhodesia. They can take your gold, see FDR. They can take your money, see post WWII Germany. They cannot take your knowledge. But they can burn books. Good point. With a quality education, you should be able to escape to another country and prosper. |
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Posted: 7/23/2014 6:03:19 PM EDT
[#11]
swiss bank account
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Posted: 7/23/2014 6:52:22 PM EDT
[#12]
Pay off loans. Buy one new toy and invest in a rental property.
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Posted: 7/23/2014 6:53:23 PM EDT
[#13]
Series EE US savings bonds.
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Posted: 7/23/2014 6:55:38 PM EDT
[#14]
Since when is a million dollars winning the "lottery".
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Posted: 7/23/2014 6:59:22 PM EDT
[#15]
Gold and Silver coins, guns, ammo, livestock and property with water.
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Posted: 7/23/2014 7:00:45 PM EDT
[#16]
A million dollars?
I'd give it away to people less fortunate than me. |
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Posted: 7/23/2014 7:12:10 PM EDT
[#17]
Quote HistoryQuoted:
Gold, Silver, land, and tax free municipal bonds. No bonds. Bonds were a safe haven in the '30s but not anymore. They're in a bubble and furthermore, many municipalities are broke. Detroit is only the biggest but many aren't far behind. Remember that many municipalities get their money from real estate taxes. When that revenue drops, so will the ability to pay the bonds. As for land, it depends on what type of land. Farmland is good. Rental property can get you burned when tenants stiff you (and they will). |
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Posted: 7/23/2014 7:16:18 PM EDT
[#18]
Quote HistoryQuoted:
This!........... Quote HistoryQuoted:
Quoted:
quality guns, ammo, gold, real estate This!........... |
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Posted: 7/23/2014 7:44:43 PM EDT
[#19]
Don't tell your family, or better yet any one else. The vultures will circle post haste.
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Posted: 7/23/2014 7:59:21 PM EDT
[#20]
Quote HistoryQuoted:
If I had $1M to invest, I'd buy ten $100k houses and rent them out. Doesn't buy much of a house where I live, but they should rent for $750-800/mo. That'll bring in 90k a year. So I keep working my job and save the rent to buy another house at the end of the year. Right now I'm 34. If I buy another rental property in the same range every year until I turn 50, I'll have 26 rental houses. Should bring in $241k/yr. I can retire pretty darn comfortably on that. And if I get tired of dealing with it all, I can sell the houses. If something stupid happens and they don't appreciate in 16 years, they're still worth $2.6M. Managing 26 rental properties doesn't sound like retirement. That's a full time job. 
Also $2.6M in assets to make $241k sound like a terrible deal. You're making only 9.2% on your money and you have to do all the work. Think about it... In most cases, the only point of owning rental property is the fact that you can use leverage to acquire it. If you can make $241k on $2.6M worth of rental property that you are leveraged 4 to 1 on (20% down), then you are making 46.3% on your investment which makes WAY more sense than putting up with that bullshit for single digit returns. Even after deducting interest costs, it's still going to be a way better deal than owning rental properties outright. For 9.2%, you might as well be in stocks and bonds and then go lay out by the pool with a stiff drink. |
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Posted: 7/24/2014 9:48:13 AM EDT
[#21]
Quote HistoryQuoted:
Series EE US savings bonds. Ummm. not just no, but FUCK NO. For a hundred different reasons. |
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Posted: 7/24/2014 9:51:21 AM EDT
[#22]
Buy ARFcom and let NorCal loose with his banhammer
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Posted: 7/24/2014 10:30:00 AM EDT
[#23]
Just said to my wife last night while I was playing around with Gunstruction that if I ever hit the MegaMillions that the day the cash was in my hand I'd drop a cool million just in guns.
Me - I'd like a Glock. LGS Guy - What model? Me - 7-50 LGS Guy - Huh? Me - I hear they make good grenades. That or I might have to buy wingnutz friendship with barrels of the finest malt liquor, hookers and blow. 
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Posted: 7/24/2014 11:56:04 AM EDT
[#24]
Gold, ammo, guns, canned and dried foods, liquor, perhaps art and generators w/ plenty of fuel.
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Posted: 7/24/2014 12:01:07 PM EDT
[#25]
Quote HistoryQuoted: A million dollars ain't shit.... Could you send me a check? I'll IM you my address. I'll send some of my wife's fresh-baked cookies as a thank you for your trouble in having to make a trip to the mailbox. |
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