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Guest, Join Papa Zoom today for some uplifting biblical encouragement! --> Daily Verses
How Would You Spend it
- Thread starter abide
- Start date
abide
Member
. one million might not be enough..Lol.
God's_gift
Member
....if someone gave you a one million dollars.
hmmm ..first i'll buy or build my own IT company , sponsor missionaries , and travel around the globe.
Classik
Member
Gaza inclussive?
tim-from-pa
Member
First thing I'd do is tithe it.
After which, probably just remodel the house and generally upgrade, and use it to advance God's Kingdom somehow.
One million is not even enough to retire on these days, so quittin' the job is not in the plans --- maybe for two million. Traditionally I have 12-15 years to work yet. At my current income that may be closer to 3/4 of a million I'd make, so if I had closer to two million I would retire early. If one is younger than me (53) I'd say don't even retire for two million.
Trust me, it goes fast.
After which, probably just remodel the house and generally upgrade, and use it to advance God's Kingdom somehow.
One million is not even enough to retire on these days, so quittin' the job is not in the plans --- maybe for two million. Traditionally I have 12-15 years to work yet. At my current income that may be closer to 3/4 of a million I'd make, so if I had closer to two million I would retire early. If one is younger than me (53) I'd say don't even retire for two million.
Trust me, it goes fast.
abide
Member
First thing I'd do is tithe it.
After which, probably just remodel the house and generally upgrade, and use it to advance God's Kingdom somehow.
One million is not even enough to retire on these days, so quittin' the job is not in the plans --- maybe for two million. Traditionally I have 12-15 years to work yet. At my current income that may be closer to 3/4 of a million I'd make, so if I had closer to two million I would retire early. If one is younger than me (53) I'd say don't even retire for two million.
The thing is once you spend one hundred dollars out of it, it is no longer a million dollars.
Classik
Member
even 0.000000001 dollar does not make it the original thing
Danus
Member
A million dollars is not really much money. However, assuming it was given, in the US you'd have to pay abut 350,000 in taxes. That leave you with $650,000. If you 65 or older that's an OK retirement.
The average home in the US is $230,000. Average car $32,000, average 4 year degree is about $100,000. the average cost to raise a child from 1 to 17 in the US is $239,000 (Based on avg income 50-100K)
Given an extra $650 K I'd just invest it. I'd use $400K of it for my kids collage funds, and trust. Use the rest to pad my retirement.
The average home in the US is $230,000. Average car $32,000, average 4 year degree is about $100,000. the average cost to raise a child from 1 to 17 in the US is $239,000 (Based on avg income 50-100K)
Given an extra $650 K I'd just invest it. I'd use $400K of it for my kids collage funds, and trust. Use the rest to pad my retirement.
Mike S
Member
I'd pay a few bills, start drinking better beer, and give the rest away to charities I support.
I asked this of my sister a few years ago. She and her husband struggle trying to make their family farm profitable. In her dry humor, she said if they won a million dollars, they'd "just keep farming til it was all gone."
I asked this of my sister a few years ago. She and her husband struggle trying to make their family farm profitable. In her dry humor, she said if they won a million dollars, they'd "just keep farming til it was all gone."
Classik
Member
First, everything I own really belongs to God and I am just managing it the way I believe He would desire. So 35% is taken by the IRS, 25% is divided equally between my church where I am being fed God's Word, the bread of life, and the poor in our community as well as in Africa and India.
The last 40% would go to retirement needs and to help with urgent needs in our family. I try to give to God first but sometimes the IRS think they rank higher.
The last 40% would go to retirement needs and to help with urgent needs in our family. I try to give to God first but sometimes the IRS think they rank higher.
Mike
Member
My brother-in-law literally hit the Michigan Lotto for 1.8 million. Within 2 years he was broke and actually owed money and he and his wife divorced. He now cuts grass at a school for a living.
One Million is not the kind of money that will always be there if you don't diligently plan. I trend money flows as part of my job, but (after giving to the Lord) my first move would still be to hire a trusted financial planner. One who specializes in Legal loopholes to minimize what the feds YANK from me would be great.
One Million is not the kind of money that will always be there if you don't diligently plan. I trend money flows as part of my job, but (after giving to the Lord) my first move would still be to hire a trusted financial planner. One who specializes in Legal loopholes to minimize what the feds YANK from me would be great.
abide
Member
Imagine that. I read where a woman in the USA won the lottery and in about two years she was broke also. she was a waitress. She said it was the worst thing that ever happened to her. People have to spend money wisely, else it will go in no time.
abide
Member
You are so right.
abide
Member
Sounds good.