Here's a million...

[HypoThesis]

Out of the blue you suddenly have a million rand and you're barely 25 years old . It's all nice to dream about it but seriously what would you do with it?

(and no, this isn't a "i'd like to know the psyche of myBB forumites" thread. It's a serious question. I won't deny nor confirm if I'm the one who has been lucky enough to be given a million in CASH but it's a real situation. )

 

[Mephisto_Helix]

I'd spread my good fortune with friends and family 1st ..... then I would spend the rest 70-30 between selfish and charity

 

[DJ...]

Invest it wisely and carry on working. Retire at 40...

 

[W@P]

Invest it wisely and carry on working. Retire at 40...

That's the only option, if you don't need it atm why spend it. Invest it and let it grow for you.

 

[stoke]

Spend R20 000 of it to create a trust for Little Eden where they get about R4 000 a month from the trust for ever.

 

[Geriatrix]

I'd buy some shares, try and get an investors visa for a 1st world country(my exit plan for when the **** hits the fan here) and pay off my homeloan.
Then I'd go on a 6 month Sabbatical to plan my own business and get out of the employee trap.

 

[guest2013-1]

First, pay off any debt you have outstanding.

Then see what you have left and find something useful to do with your time. If it was me, I'd pay off my debt. Quit my job and go work on a cruise liner and tour the world.

 

[Picard]

R1 000 000 won't set you for life.

I say buy a normal-sized house with that money and if you plan on living in it you won't ever have to worry about bonds and loans and crap like that.

 

[Adeptus Mechanicus]

Invest it wisely and carry on working. Retire at 40...

+1

A million bucks isn't even enough to buy a decent house these days.

 

[guest2013-1]

Spend R20 000 of it to create a trust for Little Eden where they get about R4 000 a month from the trust for ever.

You can do that? How? I would love to setup a trust like that for my sister's kids...

 

[The_Techie]

Invest it wisely and carry on working. Retire at 40...

Agreed, best thing to do in my opinion.

 

[guest2013-1]

R1 000 000 won't settle you for life.

I say buy a normal-sized house with that money and if you plan on living in it you won't ever have to worry about bonds and loans and crap like that.

What you do have to worry about is water & electricity/ property tax etc

I'd say buy a decent house you can see yourself living in for at least 10 years. (maybe R800k) and then spend the rest of the money (if you paid off your debt) on solar technology. Make your house "off-grid"



There's many things you can do. But investing at your age is probably the best. If you can clear ALL debt now and invest the rest in a lump sum, and then continue to put in 15% of your gross annual income into those investments, by the time you're 40 you can retire comfortably and enjoy your family instead of working your ass off.

 

[DJ...]

A wisely invested R1,000,000-00 will set you up for life...

 

[greggpb]

Investe wisley... this happened to my house mate when we were living together..... tata ma chance

about 3 years ago... he moved out bought a whole bunch of stuff(sports cars).. and with the intrest crunch he is struggling to pay the bond on his house.. he was just not smart with his money.. ..

that said 1 bar in a 10% descent investement spread accros countries
after 15 years you will have 150mil.. at 40 you could retire

 

[Nocturnity]

I'd do something completely different. My philosophy is to enjoy life while I'm still able to. There's nothing more sad than a 45-50 year old man driving 40 km/h in an awesome sports car. I'm 25 so I'd rather drive that sports car now while I can actually enjoy it without worrying about breaking my hip.

I'd fly myself and my best friend to the states and buy 2 choppers and tour for a month. Then fly the bikes to Europe and tour for another month. If you like a place, stay for a while. Maybe work as a barman or something. You could die tomorrow and then your money means nothing to you.

That said, I'd still invest a portion of it and I wouldn't resign from my job.

 

[Sly21C]

What would i do indeed, R1 million

Honestly in this day and age that money is not enough to sustain you forever. I'd find out if it's possible from a financial adviser to invest all of it and somehow get dividents that will act or replace my current income, if it's possible to have dividents payed out to me every month and which are more than my current salary, then i'd quit my job and just do what i've always wanted to do instead of staying employed in this employment trap.

 

[Ou grote]

Already got R1 million, and it really ain't much.
Have a look at house prices.

 

[guest2013-1]

Already got R1 million, and it really ain't much.
Have a look at house prices.

Gimme 1 too

 

[Geriatrix]

Already got R1 million, and it really ain't much.
Have a look at house prices.

In cash? Or fixed assets?

 

[Ou grote]

In cash? Or fixed assets?

In my wallet

For most middle class people, if u add just your pension and property equity together u already have over a million.