How to get $1.2 Million?

[hyunelan2]

So I'm sitting here, focusing on things that aren't work related, and thought - how much money would I need in my savings account (4.15% APY) to earn annual interest equal to my annual salary. The answer = 1.2 million dollars. Then thinking further, I'm wondering if I got $1.2 million, could I put it in the bank and live off the interest at the level I'm currently at? Maybe I would work a year or two with the interest 'put to the side' so I can stop working, live off the interest I made, while I try to use the "root $1.2 Mil" to make more money elsewhere (like real-estate). Tough call. I'm bored... what would you guys do REALISTICALLY with 1.2 Million? (i.e. don't say you'd go buy 6 Ferraris, because we all know we'd be at least a LITTLE smarter than to blow it all at once).

EDIT: I really don't care that you guys can figure out I make about $49,800/year in salary (not counting bonuses, etc).

[ArunSenior04]

You kno what I was thinking about doing to make tons of cash....

Make an infomercial about how you can become rich just like me. (it would have me in front of a huge house, nice cars, and beautiful women.) All you would have to do is buy my book for $20 shipped to your house, and you can know the secrets to my success. Inside the book, it'll have details on how to make money. Step 1, make people buy a book. LOL That should be good for a few thousands right.

[Tx_boy]

I would buy an Island!!!!!!!!!!!!LOL

Na just ****in wit you. I would invest 100K into my boys Steel company. Called MMFX Steel Corporation. Right now it is just a privat co. but they are currently in the process of getting approved to use it in Vegas and when that happens they already have an agreement to do the Wynn Oncore. A year after they get approved to work in Vegas they are taking the co. public and that is when I would dropp the 100K and turn it into another 1.2 Mill. in like a month or two. But as it looks now I may only have like 10 stacks to invest but can turn that into 100K in a year with the investment.

[KeWLKaT]

lol way to show off the amount of cash you make :eek:

and why the hell are you driving an elantra again?

[hyunelan2]

^^LOL. Because although I make about 50K, my wife is a teacher, so she barely makes 30K. 2 car payments, a mortgage, association fees, taxes, utilities, paying for student loans/my wife's Masters, doing things like eating, saving for the future all nickel and dime that number to death. I can't wait to be done with both car payments. Never again will I finance 2 cars at once, and never for longer than 3 years max.

[pjc6281]

hmmm realisticly with 1.2 mill, i would pay off my loans, buy my girl a 3 carot diomond ring, Buy a house thats around 600k and have no mortgage :), and with the left over of about 555k, i would buy a g35 coupe w/ a stillen supercharger and put the rest in the bank or invest.

[Tx_boy]

Damn my mom makes 45K teaching highschool. OH and I know a hussle on student loans. I work for a college if anyone is interested!!!!!!!!!!!

[hyunelan2]

Your mom probably has been teaching a while to drive that salary level up. With my wife only on her 3rd year, it's still pretty low. That's why my wife is getting her masters. Once she has an MS as a reading specialist, she'll jump to the mid-40s, from her current 32-and-change.

[Tx_boy]

Oh over looked that masters. She is in her damn 10 years already and she has her masters. She start at 32K and after her masters she jumped to like 38K and teaching summer school put her to 40K and now that she is coaching to if might actually be a little more than 45K but than again she teaches math soph.-senior and I think you know there are hardly any math teachers.
I talked to the superintendant of one of the school districts in Phoenix and he told me if she worked for him he would start her at 50K and with summer shcool and coaching she would make like 56K but she likes Texas and also my brother is the captain of his Varsity Basketball team so she does not want to move him.

[evan938]

id put a down payment on a veyron. or buy a g35 like stated above and pimp it out.

[Tx_boy]

Down payment is right than you would have car payments of one Elantra a month!!!!!!!!!!!!!

[evan938]

its not that much. i think it goes for 1.25 mil

[Tx_boy]

oh ya the one that 200+ MPH. Tom Cruise and his chick drove one of those to the MI III opening in LA. It takes to much to do the top speed run like set this do that and so forth, but where are you going to go that fast in the US so why not HUH.

[evan938]

IIRC, montana doesnt have speed limits on some freeways :)

and im SURE theres plenty of long open roads in the SW

[Tx_boy]

Which freeways in Montana. When I retire in 10 years (est.) I will move there just to mash up and down the freeway and not get in trouble.

Checked on it:It is only no limit during the day but than goes to 55-65 at night. But that is only for cars and light trucks. Semi's and busses and **** like that so have one during the day. Check the link
http://www.ibiblio.org/rdu/sl-attud/chart.html

[subvibe99]

I would buy a duplex, upgrade the units to include all ammentities of a model home and then rent them out for continuous income. Using the income, I would buy, fix, and sell starter homes until I could retire at 40. Then....I would buy all the items stated above.

[SuperGLS]

I bet you could sell drugs and make $1.2 million pretty fast.

Anyhow, why buy a G35? Then you are just another rich person with a G35. You buy a Hyundai and then make it the best Hyundai ever. That way you are a rich person with a Hyundai.

[Mad_Hatter]

i would buy a small cabin in the middle of northern michigan...deep in the woods, live there by myself, and eat delicous woodland creatures every day. I would tuck all that money away for something to be determined later.
-bill

[Estopatitiana]

REALISTICALLY i would pay off my rent, loans all of my credit card debt, all my school debts etc

then i would fix everything with my car and then throw a turbo on it
i would buy a small house in the country

and with the money left over i owuld go to 1.south africa2.new zealand3.costa rica.4hawaii5. amazon rainforest.6you get the idea


the veyron would be awesome!! i think it has like 6 turbos or something and 0-60 in like 2 seconds

[BlackElantraGT]

You kno what I was thinking about doing to make tons of cash....

Make an infomercial about how you can become rich just like me. (it would have me in front of a huge house, nice cars, and beautiful women.) All you would have to do is buy my book for $20 shipped to your house, and you can know the secrets to my success. Inside the book, it'll have details on how to make money. Step 1, make people buy a book. LOL That should be good for a few thousands right.

that's hilarious. reminds me of the SNL skit with the Getting Out of Debt Infomercial

The book basically just tells you not to buy anything if you can't afford it.

My get rich quick scheme was finding a black dude from the ghetto who was willing to cooperate with me. Basically we have him take a few shots (nothing life-threatening) to show some "battle scars", then we rent a nice mansion and some nice cars, throw a party/video shoot, and we make a rap video.

[stussy2870]

Damn my mom makes 45K teaching highschool. OH and I know a hussle on student loans. I work for a college if anyone is interested!!!!!!!!!!!


whats this hussle??

[templedogg]

Sorry Evan and TX Boy. I am from Montana and they do have a speed limit now. It is 75 pretty much all over the state. There was never really a true speed limit on the books until 1999 http://www.doj.mt.gov/driving/drivingsafety.asp

Before 1995 they would pull you over for going over the posted Speed of 65 in most places and just write you a $5 ticket (nickle special we called them), but the ticket was not for speeding but for "Wasting our precious resources", it was a conservation ticket. You could pay the patrolman right there and then and it never went on your record. I got a lot of those.

Then in 1995 they did away with the bogus $5 ticket and the posted 65 speed limit signs. It was great going back home from Seattle and burning through MT at 100+. But all the idiots in old Pintos and crap cars kept crashing and killing each other so they finally were forced to create a true speed limit or loss government road money.

You can still get a To-Go cup for your drink at a bar (or even order a drink through a drive-up window at some bars) and drink will you drive (as long as you are not over the legal BAC) but you can not speed anymore.

Great state!

[evan938]

caus a g35 is a pimp car.

realistically, if i had 1.2 million, i would buy the g35, deck it out (50k total we'll say), get a jag s-type (nothing says class like a jag), pay off my dads house, pay my moms rent for a couple months, buy a house about the size of my dads, fill it up, and still have probably 500k left over. with that i'd invest half and blow the rest on hookers and drugs.

[subvibe99]

Evan, it sounds like 1) You are pretty familiar with how 50 cent does his thing...and 2) You know how to party hard, ha

[evan938]

hahahaha

[Vampyrate]

i would finish my elantra, get a decent sized house about the size of my parents (4 br 2.5 bath) and put the rest away into a trust fund that my children could only access after getting accepted to college and showing proof of it.

[aLoNe I bReAk]

I would do everything in my power to invest it properly so as I could live off of the interest for the rest of my life, much like your original idea. Of course, my dream has always been to have a summer house on a lake, somewhere peaceful, so I would def look into getting one. I would not buy any expensive/fancy cars, and I would most likely find a part-time job (about 20 hrs/week or so) just so I don't get bored, assuming I had the 1.2 million at my age.