Imagine this…
Against your Oz-Bargain spirit, you buy a ticket for this Thursday's powerball draw. You watch the draw and how's that - you've won! You've won the whole $10 Million!
If this happened to you this week, what would you do with it?
10 Million Dollars
lemc6125 on 18/03/2015 - 19:45
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@rolypoly:
Feel free to private message me if you want me to answer your question further.It's not really relevant to this thread and some may find it offensive.
Many people find happiness with their work. If you hate your work, and have the money so you don't have to do it, what would you do instead to stay involved with society and giving you a reason to get out of bed on time in the morning?
I would still work in my public service job but I'd go part time. I enjoy the intellectual stimulation of my work and the knowledge I gain in my role. My department managers, apparently, appreciate my input.
though maybe I would change my mind pretty quickly if I did have $10 million in the bank.
Your managers would then appreciate your output.
Invest in relatively safe assets such as shares/property/term deposits and give some back to charity too. Can't put a price on making a positive difference in someone's life!
Shares are not "relatively safe assets". Residential Property however is definitely one. Just saying (Y)
Neither is property. I'm just waiting for the property bubble to burst and then we will see…
Blue chip shares are very safe and secure and deliver excellent returns.
This old fashioned "buy a house and make a fortune" pipe dream is coming to an end with inflated values and a surplus of property's for sale.
Property is over priced, but has inherent value (you can use it to get out of the rain!).
Shares can easily become valueless if business conditions deteriorate. Many companies in the GFC that had good businesses one week were bust the next when their incomes temporarily crashed, their bankers called in their debts and they didn't have the money to pay.
The shareholders in those cases were left with nothing.
Also thing shares are not safe, my Uncle lost 2/3s of his overall wealth in the GFC, so try explaining safe to him. Property I would agree with relatively safe, however my sister in laws house is -$200k from when she bought it, so again risk involved. Term Deposit is safe, only real risk is if the financial institute goes belly up.
Making a positive difference is worth far more than money.
10M would be way more than i'd need even after being extravagant.
At a bare minimum, I'd payoff my current house, give away 10% to charity, 10% to my parents, 20% each in the name my child, probably have one more child.
Buy a house in a more desirable suburb and go for a long holiday. Invest the rest. Quit my job and go work for a charity for charity.
@lemc6125
You don't work for the lottery commission do you? Trying to drive up sales!
You have to be in it, to win it!
Busted. I'll make my $10 Mil in commissions.
Upsize my meal at McDonald's
first i would go to a financial advisor, get a lawyer and listen to there advice n talk about my plan…
split 50% of the cash across several banks in high-interests accounts and term deposits across a few country in different currency's…
then take advantage of low interest rates, take a million dollar loan out, buy an apartment block or 4(in the country) and have them to set so renters pay off the loan if there at 75% occupancy…
then by a cheap farm for my self to store or my shit…
then help my mum n sisters…
then a million across a few stocks…
quit me job…
at this point i would probably have 1-3 million left, so i would probably just travel, split between backpackers n hotels, keep the budget at 100K a years, probably settle down in ThailandPay off gone loan, buy properties, make investments, rest in long term deposit. Then go overseas
buy free public transport for everyone for 1 day in my home state. Make sure it is well publicized so everyone knows to maximise its worth and try to really see how many people would choose public transport if it was truely free.
I wish more people used public transport and then they expand/make more frequent services and we can make our first step to reducing traffic that is probably sydneys biggest flaw (besides high cost of living, but that doesn't seem to be driving too many people away, they're just bring in more and more developers).
but yeh deffs keen to see this social experiment! but it needs to be trialled for a week to actually see any benefits rather than a 1 day anomoly
50% for charity and the rest is for units near uni/college.
I've previously told friends that if I won this amount of money (the $70M variety) I'd offer to pay off all my current Facebook and non-Facebook friends' existing mortgages. My goal being to quickly rid myself of the financial burden of too much money, and so my friends could all live the dream with me. Everyone keeps their day jobs, but maybe takes an afternoon off. So I guess this is still my plan in the unlikely event.
Can i add you on facebook?
Sorry, my rules are you already have to be in my circle :-P
We need more people like you in the world. People seem so self-centred these days and its nice to know that some people want to make others happy :)
Cheers. Though imagine the guilt/debt my friends might feel. And regrets from those who decide to pass on my offer. Going by that Reddit thread my good intentions will probably see all my friends dead! This is why I stay up late, and don't buy lottery tickets! :-P
Perhaps you don't have that many friends. With the current high property prices, I am sure many of your friends have very large mortgages.
20% set aside to setup a charity trust.
20% for day-day family expenses.
20% Added to property portfolio.
25% Added to shares portfolio.
10% Given to close family.
5% Added to my son's trust.I would become a taxi driver and only let passengers in if they know the lyrics to Ballroom Blitz.
As a matter of fact I see a man in the back and his eyes as red as the sun! What about the girl in the corner, the one who won't let anyone ignore her. The one who thinks she's the passionate one?
OOOOWWWWEEE YEEEAAAAHHH!!!
Buy a nice house and car for myself.
Buy a house for each of my sisters and parents.
Do nothing with the rest, really, just continue living my life. Obviously be a bit more lenient and charitable with my spending, but nothing too crazy.Buy a nice apartment and house along the bay, a few niceish cars but nothing lavish.
Pack up my bags and go traveling for a month at a time, come back to Melbourne for two or three months and then set off again for another month.I'd split the money across multiple (multiple banks across AU/NZ/EU/US) savings accounts, term deposits, etc.
Usual stuff about giving money/home/whatever to family.I have the BSB/ACC for a lot of my good friends, they might wake up one morning to a little extra than they're used to, anonymously as possible.
Traveling would enable me to see the world and also lay low at the same time.
If I win 10 Million, I stop coming to ozbargain.
No u wouldn't.
Well…I am still here..;)
Get out. Now.
You'd probably have had $10 mil if you had never come here in the first place
Your $10 million would feel like $20 million when you come to OzBargain daily.
Invest of course and live off the interest.
Anyone who won that kind of money probably wouldn't be here reading this thread.
I think you could be very surprised at the affluence of some in the community. I have seen a few comments which make me go 'woah, that person is loaded'
What would I do?
I'd put all the money in a bank, earn interest on it, retire in costa rica.
Have you guys ever played Monopoly?
Did you ever play the "banker" that issued out the notes to the other players?Did you see that even in a game, when you had more money than the bank, things didn't feel right? you felt you don't know what to do with it anymore? you felt like you bought too much and beyond your "personal" (not financial) capacity? You felt that the pink $500 notes in your inventory are almost worthless?
Good lesson, massive amounts of monies accumulated via multiple and multiples (not hard work labor / wages / etc) almost feel like there's no value.
But getting a pay check after a week work and taking your family to the zoo and having lunch may seem more rewarding.i.e dont play the lotto if you want to feel content in the heart, but play the lotto if you want a potential of having a major influx of money and trouble and stress, but some little enjoyment.
Pay off some of my credit card… :-)
Some? Geez
Buy 2 minute noodles and live like a Uni student to save money.
I once won $650 and went and bought Hungry Jacks to celebrate.
I had a bit of a windfall during hard times once.. I celebrated by splashing out on a packet of coco pops.
I'd invest it, and let the interest pay for a more meaningful lifestyle.
Well, no one won. 0 Winners. :)
The odds were 1 in 76,767,600.
Wow spoiler alert, I havent checked my ticket yet :(
Haha, didn't think of that! ;) You're a very optimistic person ;)
Haha yeah well I don't buy a ticket planning to lose
There was a really good thread on reddit about this situation. Basically you've got to spend most of your time hiding the fact you've won the large amount of money. Then go and get tax advice.
They recommended leaving town for a month.
I worked with someone who won a large amount of $ and they advised him to just put it in a bank account for 3 mths until he figured out what to do with it.
Many have it all gone in a short amount of time and nothing to show for it.
probably the most sensible option.
Can confirm that banks will not give 4% on 10mil. I work at a bank and some of our private customers are only getting 2.8% on 15-20mil.
Careful what you disclose.
will buy a house, then new car or holiday
then buy house, and buy a house , if possible get buy more housesENELOOPS
edit; damn; beaten by blighst on page 1.
Serious answer then. I'd like to think 50% would go to charity and if I had guts, more. Otherwise I'd keep some amount to make my holidays less tightarse.
I'd Pay2Win all online games. I have my priorities right.
If only I had $ 10 million, I'd marry my mistresses and put them all under the same roof with my wife. I'd be the happiest man in the world! grinning
keep working because I like my job, but maybe doing less hours or becoming a contractor.
spend more time reading
travel a bit more but I'm lazy
buy a house just big enough for myself to live in
buy a new car
invest the rest and donate the profits to charities.
I really don't need that much materialistic things, when you have too much things, they will own you instead of the other way around
Thanks for the ideas guys… will be disappear for a while now…a lot things to consider
I would invest it in a diversified portfolio of assets, including a house in which to live.
I would then treat the interest as an income, and continue working in an industry I enjoy working in.
Firstly register and pay for Winrar.
Pay off debts\mortgages
Invest heavily in Platinum stocks
10 million dollars is such a lot of money. You definitely do not need the whole lot for yourself. After getting the things that you and your family may need …
… I always thought that it would be a lot of fun finding genuinely needy people. Buy them things that they need, (fridge or car or couch or bed, just anything) and have those things delivered to them, anonymously. I would love to see the excited and happy look on their faces. Just like a kid at Christmas. It would just make their year. It would also keep me busy shopping which I always enjoy doing.
I would probably invest a large amount so I would have a regular amount of money rolling in. This way, I would not run out of funds.
Buy a few properties (3mil) to rent out, have children and work part time. Give my dad, sister and partner's family 1mil each, bring mom over, give her 3mil for her to travel and stop work, 1 mil for my partner and I to share.
He would still want to work full time I'm pretty sure and I enjoy my work too, so 1mil for us to pay off his hecs, money in the bank, donate, travel when we can. It's money we can use to be nice to good people we know, like our landlord.
buy van diemens land off australia and make it a free trade zone
1 million 10 dollar hookers, or one 10 million dollar hooker. Tough choice.
Honestly, probably faint and die.. haha.. yeah that would really give me a mind brain bender/shocker.. like holy crap I just won ~$10million AUD.. ok.. goes and buys a few pork rolls and $5 domino's pizza's.. now what.. oh yeah dat's right I better get some bread and milk.. haha..
Truthfully, probably try and share it somehow with the less needy.. (or is it more haha lol i forgot now) the homeless and etc and the lonely elderly.. maybe deliver a few pizzas and drinks to them and try get them some cheap and affordable permanent accomodation..
and then of course maybe do a reverse broden and buy everybody some nice cheap and small packet of eneloops haha :P or some staples vouchers depending on their choice :P haha lol.. yeah man I am a bit of an oldie.. I still remember those great and funny deals.. but not much now earlier.. my memory is fading.. goddamn Alzheimer's.. say what
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@inherentchoice: Thank you for the link, but I'm not an atheist, I'm not a Christian either. I haven't really thought much about religion. I started reading that and it just talks about evolution. I don't really know enough about that to critique a discussion on evolution.