You come across $1.8 million in cash. Legitimately, lol.
No cc debt or car payment.
House mortgage balance $150k on a $750k house.
How would you invest the money and make it grow?
You come across $1.8 million in cash. Legitimately, lol.
No cc debt or car payment.
House mortgage balance $150k on a $750k house.
How would you invest the money and make it grow?
Slippery said:You come across $1.8 million in cash. Legitimately, lol.
No cc debt or car payment.
House mortgage balance $150k on a $750k house.
How would you invest the money and make it grow?
FSKAX
Did I miss something?
Are there $1.8 million opportunities floating around??
Invest and spend the gains...
Next year would have a couple of nice vactions (assuming the market funk ends).
Porsche Carrera GT? :)
https://bringatrailer.com/listing/2005-porsche-carrera-gt-8/
In reply to SV reX :
I'd like to know as well. While I have quite a few years until retirement, an extra 1.8 would look fantastic in my accounts.
AGENTS!
GET OUT NOW!!!
A diverse portfolio based on when I need the money.
I would also factor in all aspects of the debt I had- well only the mortgage really- if the interest could be deducted which lowers the effective interest rate (making it easier to beat that rate).
If it was enough to comfortably retire on, then I would look into various toys to get.
I'd probably try to buy a mcdonalds franchise.
Robbie (Forum Supporter) said:I'd probably try to buy a mcdonalds franchise.
Having worked there, and knowing that the margins are paper thin- you would better off making a new fast food place that could become a franchise for other people. Be the new Chipotle.
(which is to say, I was not impressed with the owner of the 2 stores in my town- not a bad job, but there are better out there)
Most of my "business ideas" probably belong in the 'Wasting $1.8 Million' thread, and even if I'd end up no worse of than I am now I just can't bring myself to do something purely speculative like Crypto... So probably something exceedingly boring, like VTSAX or VFIAX until it becomes enough to be F-U money.
I'm gonna plow mine into stocks that pay high dividends, in sectors that people can't seem to do without. Won't set any records, but probably Won't get demolished either.
Driven5 said:Most of my "business ideas" probably belong in the 'Wasting $1.8 Million' thread, and even if I'd end up no worse of than I am now I just can't bring myself to do something purely speculative like Crypto... So probably something exceedingly boring, like VTSAX or VFIAX until it becomes enough to be F-U money.
$1.8 million isn't F-U money by itself?
STM317 said:Driven5 said:Most of my "business ideas" probably belong in the 'Wasting $1.8 Million' thread, and even if I'd end up no worse of than I am now I just can't bring myself to do something purely speculative like Crypto... So probably something exceedingly boring, like VTSAX or VFIAX until it becomes enough to be F-U money.
$1.8 million isn't F-U money by itself?
Depends on how old you are and the standard of living to which you would like to become accustomed.
Robbie (Forum Supporter) said:I'd probably try to buy a mcdonalds franchise.
Will 1.8 even buy the arches these days?
Chick filet does a lottery every year for franchisees, costs $10k out of pocket if you win, corporate fronts the rest and has a 5 or 10 year payoff plan.
Subway is another story. I think the food is disgusting, but in and around Greensburg, PA an area of about 60k people, there are 11 franchises within a 10 minute drive in any direction and they're all profitable. I know two owners and they own 5 locations between them.
STM317 said:Driven5 said:Most of my "business ideas" probably belong in the 'Wasting $1.8 Million' thread, and even if I'd end up no worse of than I am now I just can't bring myself to do something purely speculative like Crypto... So probably something exceedingly boring, like VTSAX or VFIAX until it becomes enough to be F-U money.
$1.8 million isn't F-U money by itself?
1.8 isn't even enough to retire on much less FU Money. There are more people on this board with that much than you'd think. $1.8M does not go far in many parts of the USA.
RevRico said:Robbie (Forum Supporter) said:I'd probably try to buy a mcdonalds franchise.
Will 1.8 even buy the arches these days?
Chick filet does a lottery every year for franchisees, costs $10k out of pocket if you win, corporate fronts the rest and has a 5 or 10 year payoff plan.
Subway is another story. I think the food is disgusting, but in and around Greensburg, PA an area of about 60k people, there are 11 franchises within a 10 minute drive in any direction and they're all profitable. I know two owners and they own 5 locations between them.
Chick Fil A does not have a payoff plan, they own everything, including the real estate and take more than 50% of the profits. That is why it's only $10k. They are very picky about who they choose (it's not a lottery) the $10k is just a number to make it legal. It's all on their website
STM317 said:$1.8 million isn't F-U money by itself?
Nope. Pretty sure I'd need at least $10 million for that. Probably closer to $12 million.
I figure ~$6 million to invest and earn enough interest to live on comfortably. $500k for a nice house. $5 million to launch a business (in my case a brewery or distillery) that I would have the freedom to do as much or as little work as I wanted at.
Oh sure. $1.8 million would be AWESOME. I would quit my job and take 3 years to found the business I want, where I want it, how I want it with that kind of money. But I'd still have to work and actively manage my money.
Steve_Jones said:STM317 said:Driven5 said:Most of my "business ideas" probably belong in the 'Wasting $1.8 Million' thread, and even if I'd end up no worse of than I am now I just can't bring myself to do something purely speculative like Crypto... So probably something exceedingly boring, like VTSAX or VFIAX until it becomes enough to be F-U money.
$1.8 million isn't F-U money by itself?
1.8 isn't even enough to retire on much less FU Money. There are more people on this board with that much than you'd think. $1.8M does not go far in many parts of the USA.
I'm certain there are people here with more than that. Comfortably. Maybe it's just a difference in definitions? $1.8 mil should kick off $72k/yr. If I'm getting $72k/yr for no work at all, that's F-U money to me. My current annual take home is under $40k, and there's usually a little money left over. At that point where I'm generating over $70k/yr from investments, I no longer have to work, I'm choosing to for another reason. I'd consider that to be a pretty good definition of "F-U" money. Seems like working longer to earn more than 1.8mil is essentially just trading precious time so you can afford to buy expensive stuff. I guess that's fine, but I don't think 1.8 is a low number at all. If I end up with 1.8mil in retirment and I'm still working, I might feel like I've overdone it.
STM317 said:Steve_Jones said:STM317 said:Driven5 said:Most of my "business ideas" probably belong in the 'Wasting $1.8 Million' thread, and even if I'd end up no worse of than I am now I just can't bring myself to do something purely speculative like Crypto... So probably something exceedingly boring, like VTSAX or VFIAX until it becomes enough to be F-U money.
$1.8 million isn't F-U money by itself?
1.8 isn't even enough to retire on much less FU Money. There are more people on this board with that much than you'd think. $1.8M does not go far in many parts of the USA.
I'm certain there are people here with more than that. Comfortably. But that amount should kick off $72k/yr. If I'm getting $72k/yr for no work at all, that's F-U money to me. My current annual take home is under $40k, and there's usually a little money left over. At that point where I'm generating over $70k/yr without working I no longer have to work, I'm choosing to for another reason. I'd consider that to be a pretty good definition of "F-U" money.
At 4% withdrawal rate (like you used), 72K a year is about 8K under the median US household income, but 15K over the median in Ohio. I could get by just fine here on 72K, and that'd include hobbies and travel.
In reply to eastsideTim :
Median household income in the US for 2020 was $67.5k
Quit my job and go be a traveling clown or something emotionally fulfilling it's definitely more than 72k/yr in pocket as I'd probably be out half that again buying health insurance for the fam.
In reply to STM317 :
That's what I get for grabbing the first stat I find without double checking. I knew the number seemed high, but though maybe all the increases in wages that have been talked about had an effect.
Steve_Jones said:RevRico said:Robbie (Forum Supporter) said:I'd probably try to buy a mcdonalds franchise.
Will 1.8 even buy the arches these days?
Chick filet does a lottery every year for franchisees, costs $10k out of pocket if you win, corporate fronts the rest and has a 5 or 10 year payoff plan.
Subway is another story. I think the food is disgusting, but in and around Greensburg, PA an area of about 60k people, there are 11 franchises within a 10 minute drive in any direction and they're all profitable. I know two owners and they own 5 locations between them.
Chick Fil A does not have a payoff plan, they own everything, including the real estate and take more than 50% of the profits. That is why it's only $10k. They are very picky about who they choose (it's not a lottery) the $10k is just a number to make it legal. It's all on their website
Then I have been misinformed, never had $10k sitting around anyway, so never looked all that hard
But that's still a pretty decent deal, only time there's never a line at any chick filet I've seen is on Sundays when they're closed.
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