What would you do if someone gave you 1M dollars?
Hey everyone, suppose you were to win 1M dollars from the lottery, what would you do with that money?
@yourgoodfriend00 leave this place forever, move to a far away city, get therapy, continue my education, and then when I'm mentally okay, I'll travel the world and feel alive.
after that, I'd get a job and be completely independentĀ
@yourgoodfriend00
Make a FD of it and just sit tight on interest incomeš¤£
buy concert tickets lol
@yourgoodfriend00 Maybe I will build my own house or create a business and invest a million in itĀ
That depends, @yourgoodfriend00...you should know that 1 million isn't all that much anymore. Inflation is real!
If I could act quickly enough, I would open an investment account in a nice foreign place, perhaps the Caiman Islands. Then I would transfer my millionĀ š² to that account as fast as possible. I would use the revenues from said investments to help me get citizenship somewhere outside the US. After doing all that, once I know that my position is good, I might send a letter to the IRS that would say something like
"F*** you. Screw your federal budget sinkhole.
You can go leech off what remains of the American
middle & working classes to try to pay down
that unpayable national debt."
Most likely, though, it wouldn't play out like that & I'd have to pay tax on the winnings. The fedgov can move quickly when it wants to. After the IRS rips out an estimated 40% or so, that would leave me with around $600,000. After that, my plan probably wouldn't change much. I'd still want to leave the US for a place with more reasonable living costs...probably one of the developing countries without a civil or tribal war going on. After that, whatever I have left over...say, $530,000...I would invest with an eye to dividends. Am all about diversification so I'd put my money in various things, like stocks, ETFs, government bonds if the government is good about paying interest on its debts, precious metals of course, & some cryptos.
@yourgoodfriend00 I wouldn't know for sure. First of all, I would try to mantain as much self-control as possible and keep on my own circumstances prior to the moment they gave me the money. What did I need? What would be beneficial to me? What would be beneficial to others? Those are the type of questions I would make to myself after gaining consciousness.
