If you had $500,000 what you do with your life?

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Gogol

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Open an FD and invest 100% of the sum into it. Considering the interest rate to be 8% per annum, I would be getting total $3333.33 per month which is an awesome sum anyway :D

I would change my lifestyle to match $2K per month and donate the rest to charity.
 

Spawnie

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Hopefully I'll be there in a year or two on my own. But I guess you mean if we had 500k all at a sudden today.

I think I'd secure some money for my kids, and start building my dream house, pay off the mortage of my parents, start buying physical gold and platinum. Start a program to feed the needy and an education program (living in 3rd world country) - basically I would try to raise my own army of internet marketers/programmers/designers.
Since I have a decent income already, it would be more of start money for a lot of the things I plan to do anyway.

I believe that the economy/monetary system will go down sooner or later and/or wars/civil wars will break out. So I would invest a lot in alcohol and tobacco, because that's the currency in tough times.
 

fatboy

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Easy to answer:

Pay off my remaining debt (mortgage only!), buy a nice chunk of land with wood, build my own house and dump everything to do with the internet.....not ore bot writing, no more sysadmin, no more hosting, just concentrate on working the land, alternative energy experiments, self sufficiency etc

Think that sums it up for me :)
 

Spawnie

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concentrate on working the land, alternative energy experiments, self sufficiency etc
Couldn't live without the internetstuff but the rest is the long term plan. Pigs, chicken, turkeys, fish etc.
But even tho I have the land for it already, $500k just wouldn't crack it.
 

a-jani

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I honestly wouldn't know what to do with myself. I think you'd need at least 5 million to live like a baller.
 

themillenium

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1) Purchase a Ferrari (I'm thinking 458 spider?)
2) 50K to my parents, 25K to sister
3) Start an arbitrage / trading firm
 

srb888

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Btw, since many years, that amount in my bank account has been a dream... honest! :).

That amount comes to about INR 32,000,000 (INR 3.2 crores), and many business owners and individuals in my place easily have that kind of amount, or have valuables - both cash and property etc., with them. In Mumbai, my sister stays in South Mumbai, and her residential apartment (about 1,200 sq feet area) is valued around 1.8~2 (may be more) times that value easily. If, for example, she sells that residential flat tomorrow and moves to some suburbs in Mumbai or in Pune, then she can still have INR 3.2 crores ($500k) in bank even after buying a good apartment of equal size and paying the taxes (my guess only).
 
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splishsplash

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Some of the replies on here are just scary. 99% of people really have no idea what money is about.

If any of you ever do come into large amounts of money then forget the ferraris, travelling and stocks/property. If you get $50 million then yes, get a ferrari, travel and invest in stocks and proprty, but $500k, come on. Someone said 40% in property. That's $200k. You wouldn't get far with a $200k property investment other than a nice down payment on your main property for future security. Property is also not something you generally make much money from. Property investment is for wealth protection.

If you have any hope of ever becoming wealthy, then what you would do with $500k is this :-

1) Do a life budget and get yourself a small clean, quiet apartment in a nice area. Budget for about $1k/mo personal living expenses.
2) Spend $3k-$5k max setting up your office. Get yourself a nice computer, desk, seat, decorate so it's energizing.
3) If you drive then get a functional, practical car at no more than $10k.
4) Put $100k aside for personal survival. At your current budget you have 8 years of comfortable living to build your business. Don't underestimate the power of long term peace of mind.
5) Put the remaining $385k'ish into your business account and don't touch it unless you have profitable campaigns that need growth.
6) Get into either SEO or media buying and spend as little as possible testing out and growing campaigns. When you hit a profitable campaign you reinvest more money into it.

Same applies for almost any amount of money. If it's a small amount then remove the car and reduce the office supply spending.

Those who become long-term multi-millionaires are not the ones who go and buy a ferrari when they make their first $500k.
 

ranga

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I would first look at what my requirement for retirement is i.e. say around $5,000,000 so need to increase this amount by 10x in short time to retire. So would create a business and put the rest in bonds and stuff getting good stable return. Once I can reach $5,000,000 mark by sale of business etc. will sell all that and retire.
 

aaa213a

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Some of the replies on here are just scary. 99% of people really have no idea what money is about.

If any of you ever do come into large amounts of money then forget the ferraris, travelling and stocks/property. If you get $50 million then yes, get a ferrari, travel and invest in stocks and proprty, but $500k, come on. Someone said 40% in property. That's $200k. You wouldn't get far with a $200k property investment other than a nice down payment on your main property for future security. Property is also not something you generally make much money from. Property investment is for wealth protection.

If you have any hope of ever becoming wealthy, then what you would do with $500k is this :-

1) Do a life budget and get yourself a small clean, quiet apartment in a nice area. Budget for about $1k/mo personal living expenses.
2) Spend $3k-$5k max setting up your office. Get yourself a nice computer, desk, seat, decorate so it's energizing.
3) If you drive then get a functional, practical car at no more than $10k.
4) Put $100k aside for personal survival. At your current budget you have 8 years of comfortable living to build your business. Don't underestimate the power of long term peace of mind.
5) Put the remaining $385k'ish into your business account and don't touch it unless you have profitable campaigns that need growth.
6) Get into either SEO or media buying and spend as little as possible testing out and growing campaigns. When you hit a profitable campaign you reinvest more money into it.

Same applies for almost any amount of money. If it's a small amount then remove the car and reduce the office supply spending.

Those who become long-term multi-millionaires are not the ones who go and buy a ferrari when they make their first $500k.

Lol, but all of us don't live in the USA, property is cheaper here. For 200k I could buy a bigass house or a flat in my town. So yeah I'd invest in that or buy 2 smaller ones and rent one out.
 

safex

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Bro..Scale your Imagination..As Many BHW Users Earn 100K Per Year, So 500k In bank in Not Big Deal. ..How About 5000K...
 

splishsplash

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Lol, but all of us don't live in the USA, property is cheaper here. For 200k I could buy a bigass house or a flat in my town. So yeah I'd invest in that or buy 2 smaller ones and rent one out.

The price of property is completely superfluous to the return you'll make. Appreciation is appreciation. $200k equity in a $2mil house will make you the same as $200k equity in a $200k house if they both appreciate by 10%.

Just because you can buy a bigass house for 200k doesn't mean that bigass house is going to suddenly be worth millions.

Sure, if you wait 30 years it might be worth a bit more and after taking inflation into account you'll have turned your 200k into 400k. Great work for 30 years. This really depends on the country though. A lot can happen in 30 years and property might be worthless in your country then.

Property rental makes peanuts. When you take into account the hassle and costs you're not left with much. Got $50 million? Then yes, start a property empire and you'll make good residual income and in 10-15 years most of the properties will be worth a bit more even with inflation so you'll be a bit wealthier.

As I said, property is mostly about wealth protection. When you have $500 million+ your problem becomes maintaining that. Put that in a bank and if a currency loses 5% of its value then you've just lost $25mil.

I'd rather build an SEO and media buying empire with my first $500k, which is more likely to turn that $500k into $5 million. No property is going to make you a 900% ROI.
 

JournoNick

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1) I would take picture of myself with all that money
2) Pay someone $3 per hour to write an ebook
3) Not read it
4) Make a thread on Warrior Forum selling my ebook
5) Upload picture from step one saying I made all the money using the exact technique inside the ebook
6) Pay people in Fiverr to give great reviews on WF
7) Wait for Alex Becker to suck me off for affiliate income
8) Make $25k but tell everyone I make $125k
9) Contact CEO Sam for partnership
10) Join Blackhat.Community and share my knowledge, then sell shit domains for $49 each
11) Hack something and upload the video to youtube, then brag on /b/
12) Tell BHW people they're trolls
13) Get arrested
14) Start using Heroin
15) Stab someone to death
16) Shoot myself and die a legend amongst children, then be forgotten in 3 years after my death
 

mootonandy

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Build a moat. You know, to keep the Black Knight at bay?
beaumaris_castle_autumn.jpg

An authentic looking Castle with a Moat but all modern on the inside would be very cool.

I might build my own indoor Skatepark.
 

QuantumBlue

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I would keep half of the amount for myself and the other half would be invested back in the business, which made this amount of money.
 
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