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Thread: Sudden Wealth

  1. #1
    Pareo cattus Natrushka's Avatar
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    Default Sudden Wealth

    You suddenly find yourself $4.4 million dollars richer than you were two days ago. What do you do?

    This signature left intentionally blank.

    Really.

  2. #2
    Senior Member Sahara's Avatar
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    Immigrate to Canada, by a house, and then pretty much carry on with my current plans, study and work. Oh, and take a holiday, as I haven't had one in 8 years now.

    How many times have I had this dream lol.
    "No one can be free of the chains that surround them"

  3. #3
    Oberon
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    Move to an undisclosed location, switch to an unlisted phone number, and provide the new contact information to only immediate family and my most trusted friends.

    Otherwise, once word gets out that you're newly wealthy, you'll be harried to death by people wanting a piece of it.

    After that, I'd give away ten percent of it to charity, invest the rest in some very safe, conservative portfolio, and continue to maintain my current standard of living (minus the part where I sweat the checking account every month).

  4. #4
    Strongly Ambivalent Ivy's Avatar
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    1. put away 2mil for the kids' education and our retirement
    2. sell this shitty house and pay cash for a nicer (but still modest) one in a nearby neighborhood where my kids both have friends (200K)
    3. replace both our vehicles with hybrids (a Highlander for me and a Prius for him) (60K)
    4. enroll both kids in the nearby Quaker school, pay upfront for them to both go until 12th grade (~200K)
    5. start feeling guilty about my first four impulses being selfish, spread out half a mil between the charities I believe in
    6. pay my parents' medical bills, give them 100K, give each sibling and my inlaws 50K (500K)
    6. have fun with the rest-- travel, school, bling, random generosity to make myself feel awesome, hosting MBTIC meetups, etc
    The one who buggers a fire burns his penis
    -anonymous graffiti in the basilica at Pompeii

  5. #5
    Senior Member Cerpin_Taxt's Avatar
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    Pay my siblings student debts. 50-60k

    Buy my brother a car. 10-20k

    My parent's are very set money wise, no need to concern myself with them.

    Buy every book, dvd, or cd I could ever hope to read, watch or listen to -- this would have to be done gradually. 50-100k

    Give some to a few charities. 500k

    Buy a few acres in the country somewhere, with a small house. 500k'ish?

    Figure out how much I would need for necessities for the rest of my life and put it in the bank.

    Give gifts of 5-10k, to a few of my close friends. 50-100k

    Spend a year travelling.

    Whatever is left after that I would probably give to charity aswell, maybe a christian monastry or something of that nature.
    One by one, over the months, the other bulbs burn out, and are gone. The first few of these hit Byron hard. He's still a new arrival, still hasn't accepted his immortality. But on through the burning hours he starts to learn about the transience of others: learns that loving them while they're here becomes easier, and also more intenseto love as if each design-hour will be the last.

    Thomas Pynchon - Gravity's Rainbow

    I can't go on, I'll go on.

    Samuel Beckett - The Unnamable

  6. #6
    にゃん runvardh's Avatar
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    Give my dad the .4 so he can restore his truck and start the business he's been wanting for the last 15 years.

    Use the rest as seed money to fund the life I want with the interest.
    Dreams are best served manifest and tangible.

    INFP, 6w7, IEI

    I accept no responsibility, what so ever, for the fact that I exist; I do, however, accept full responsibility for what I do while I exist.

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  7. #7
    Protocol Droid Athenian200's Avatar
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    First I open a bank account at a reputable insured bank that gives interest, and place a million in there. I take another million and place it in stocks and bonds. Then, I use some of the money to purchase a house in a nice neighborhood and furnature. I place the remainder in a checking account, and try to limit myself to spending the interest I earn from my other money. If I have more than enough for my personal desires, I might donate $100,000 to a charity or random person who needs it.

  8. #8
    Senior Member nottaprettygal's Avatar
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    I'd buy 4.4 million lottery tickets. One of them is bound to be a winner, and I would be rich! Rich I tell you!

  9. #9
    Oberon
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    Quote Originally Posted by athenian200 View Post
    First I open a bank account at a reputable insured bank that gives interest, and place a million in there. I take another million and place it in stocks and bonds. Then, I use some of the money to purchase a house in a nice neighborhood and furnature. I place the remainder in a checking account, and try to limit myself to spending the interest I earn from my other money. If I have more than enough for my personal desires, I might donate $100,000 to a charity or random person who needs it.
    FDIC only insures passbook accounts to $100,000. Better look elsewhere for security.

  10. #10
    Senior Member ptgatsby's Avatar
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    Quote Originally Posted by oberon67 View Post
    FDIC only insures passbook accounts to $100,000. Better look elsewhere for security.
    Yah, but there is no difference between investing in government backed debt and FDIC insurance - might as well buy government debt. It's the same thing.
    Wait, I guess you aren't canadian. Should be the same, though.

    Also would be wise to diversify currencies and/or market areas.

    What I would do;

    1) Split the money 3 ways, 1/3 for myself, 1/3 for GF 1/3 for us.

    2) My portion would go towards
    i) Helping in any sustainable way, my friends and family; Notably, buying my parents home (give cash to them, but asset remains mine), probably opening up a medical clinic (backing the clinic) for a friend... stuff like that.
    ii) Most likely subsidise my hobbies otherwise (rather than draw upon the 1/3 that "we" have).

    3) Our portion would go towards a home and such, then, assuming the balance is roughly 500,000 or so, would invest the money for the long term (either own company or public/private company) and continue working. I may generate an income stream from the money to help with the higher costs of a ~1 million dollar home, although it probably wouldn't make a difference - the goal of saving roughly 40-60% of our salary wouldn't change... It would simply accelerate the path.


    Quote Originally Posted by Natrushka View Post
    You suddenly find yourself $4.4 million dollars richer than you were two days ago. What do you do?
    Oh, and for the record... you are my bestest friend. Just in case you were curious.

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