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With 10 million?

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lolatpigs
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With 10 million?  Reply with quote  

Hi internet, I'm new here. I am interested in receiving advice with what to do with 10 million dollars?

I would want to buy a lamborghini, but that would be silly, would a 100k car still be too much?
What amount would be reasonable to spend on a home?
What should I invest in?
Is there a right or a best way to go about this?

Basically I'm asking for a simple plan to put into action, open to all ideas
Post Sun Jan 17, 2016 7:24 pm
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oldguy
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quote:
What amount would be reasonable to spend on a home?
What should I invest in?
Is there a right or a best way to go about this?


It depends on what you have done in life - and your age.

Eg, if you currently have a $5M hog operation - maybe 320 acres of $7500/ac ground, a 1000 sow farrowing house, and you are marketing 10,000 hogs per year - and then you inherit $10M - you might pay down the debt on your operation. And then capitalize another $5M hog operation a few miles away.
Spend about $250,000 on a nice 3000 sq ft house in the wood line about a quarter mile back from the road (and upwind from the hogs), put nice white fencing out to the road, a blacktop drive. Plant grass and put a few sheep out front to look good and to control the grass.
Skip the lamborghini, get something more fun - maybe a new John Deere with a front loader. And a second one with a snow-blower. And a couple ATVs - and a couple Snow Machines. Maybe some horses - pricey high-steppers. Or a draft team - Clydesdales - and a sleigh.
Post Sun Jan 17, 2016 9:01 pm
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global
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Since a 100k car would only be 1/100 of your total money I would do it.

Also your age should be a big factor in this. The younger you are the more you might want to invest. The older you are. ehh, you won't be around forever so don't invest as much.

If you are in your teens or early 20s I would invest/save about 65% and spend the other 35%.

If you are 70-80 I would save/invest 25% and spend the other 75%.

It sounds like you want the car. Maybe you should buy it, but do it for yourself not just to show the world how cool you are. Unless that is what you want. The car is only 1/100th of your money. If it was 1/30th I might be saying ehhh.

You could also donate to some causes you like if you feel like you have more money than know what to do with.

I think the best way to go about it is to make a plan on excel. Calculate your life expectancy and monthly, annually, and daily bills. If you have a plan then you won't have to worry about spending all your money. Always be very optimistic on life expectancy and always have the ending balance be higher than 0 with an additional safety cushion of money incase weird crap happens to you. i.e. someone breaks into your rich house and gets caught. Then they proceed to sue you because they smelled like poop due to you house's "unnatural fumes"

Finally if you feel really overwhelmed with too much money you could give me $150,000. I'm not prying. I'm just suggesting the possibility in case you run out of things to do with your money. Very Happy
Post Tue Jan 26, 2016 12:36 pm
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ElisabethStaffeld
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Oh! Your question sounds very silly fellow :p You should use your mind to take your decisions.
Post Wed Jan 27, 2016 7:34 am
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raybenz1985
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Oh man you have lot of money and you can invest in any business.
Post Sat Feb 20, 2016 3:02 pm
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hcspeed
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HMMM,,,
is that a screen name , or an accusation,???
Post Thu Mar 03, 2016 1:21 am
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Kimberlie Broe
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10M is a lot..for me that is!

I'd say you buy the car that you like but I'm hoping it's because you like the car and not like the attention you'd get because of the car. LoL.

If you're in your 20's, it's great if you invest most of it so it gains interest for the years to come but, leave some for yourself. Enough to allow you to enjoy the good stuff in life. It's more than enough to buy a decent house and car so, go for whatever it is you'd like to have but don't forget to invest. Smile
Post Sat Apr 23, 2016 2:47 pm
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selina9
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I am an online earner.I invested about 35k in online. So I will suggest u to invest ur money in online. But most of the sites are scam. I will suggest u to invest where i am investing about 14k. This site is most trusted. It has 2 customer care service center in US. So u don't need to be worry about ur money. You can invest from ur bank account or debit card. Contact with me @ selinabegum679@gmail.com / Facebook.com/earnmoneyonline.a2z (give msg) if u want to invest.


Site link: https://goo.gl/oPNl1p
Post Tue May 17, 2016 10:36 am
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