How would you spend $1 Million? (funds, pay, rent, taxes)

[deportallofthem]

Here's what I would spend it on..

$300k stored in a healthy currency
$250k for real estate investment down payment
$250k for stock market; diversified.
$100k to start a business(es)
$50k for a car, and other liabilities
$50k for charity

[SaveMtns]

$500K invested in mutual funds, other safe(r) investments
$500K start a non-profit foundation to build/operate loving group "family" homes for teens stuck in foster care waiting for their 'forever families' who aren't going to show up before they 'age out' of the system...

Can you tell this is my passion???

[Submariner]

$100k to a Christian charity maybe to publishing Bibles [first things first];

$300k for farm equipment [an excavator, a bulldozer, and a few attachments for each];

$100k for another apartment building [I have never bought one using any down-payment before, but I guess that I would be willing to do it that way just once];

$10k for a family trip;

And the remainder to 'Habitat for Humanity' [something where I am assured that a high portion would actually go toward helping folks].

Mostly write-offs and depreciating tax-shelters.

[WeeMadArthur]

$190k to pay off the house.

Invest the rest and retire rich in 30 years!

Oh, and buy a new iPod. I dropped mine last week :'(

[Astrantia]

Is that 1 million before or after taxes?????

Assuming it's after taxes, or tax-free...

1 million would just cover buying a half acre of land and building the 2500 square foot ranch (new construction) that is my dream house, for all cash. There would probably be enough left over after the house is finished, to pay the first year's property taxes (around $13,000/yr) but that's about all.

I live on Long Island where such a house costs about $800,000 in the current resale market, so it would not be a mansion by any means.

[Jaysie_Marnix]

With $1 mil today, live wealthy at $20k / year for 40 years.

[Roma]

I would use the money and put it toward buying a home in Ca. Please!!!

[belovenow]

I like what the original poster had in mind but might pursue one of the following instead:

- build or buy a nice retail-zoned strip mall (let's say 700k-900k) and rent it out for a nice longterm income stream

- partner up with some angel investors in a small business investment company - to make a really decent annual return

- invest all of the money into stocks/mutual funds and aim towards 10-20% rate of return annually with intelligent investing.

Quite frankly I am just not certain which avenue I would pursue... I could see myself sitting on it a while so I could come up with a rational plan. Starting up a business so that I was working for myself is obvious... but it wouldn't take but a fraction of that money to do what I plan to do shortly anyway :-)

[Padgett2]

I would pay off the mortgages on my son's homes and then put the rest in nice, safe CDs. I would use the interest to beef up the monthly Social Security Check and leave the rest to the kids and grandkids.

I know I could probably get more by some sort of investment, but I've been that route and I don't want to have to fret about anything again. That's just not me. With a CD, I can just forget it and collect interest every month.

[Think (Freedom)]

Its crazy to think a million doesnt get you all that much these days in some parts of the country.. Well if I had a million dollars, I would:

Buy a townhouse/condo in Southern California.. thats probably about 300-350k

New car for myself, mom and stepdad.. 100k

Down payment for a townhouse/condo for my mom and stepdad, preferably in SoCal.. 150k

Some type of investment for the future.. 200k

Travel to Australia and South Africa.. dont know how much this would be..? 50k ?

Give some money to help my dads business.. 50k

Pet Charity.. 25k

People Charity.. 25k

Still have 50k for misc. things, pay off credit cards, etc.