monzorella
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make the world a happier place |
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thinker
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your first obligation is to pay taxes on the money, and then allocate a portion to investments. When the rest of the money has been spent, you could live off the interest generated by your investment. |
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Anne M
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If someone somehow gets a million dollars, I think the best thing to do is sit down with an accountant and figure out how to invest it in a tax-sheltered investment of some kind, where it will get lots of interest. Then you can have fun doing whatever you want with the interest and the million will always be there for you.
You could even divide it up and have some of it in one account for your retirement, some in another account for other needs, etc. Some of it could be in a low-risk investment and some in a high-risk, etc. Then you could have fun watching to see how much $$$ the investments are making each month, and you could decide whether or not to spend the interest on things you want, without having to feel guilty about touching the principal.
On a relative scale, a million isn't really that much anymore. It's not REALLY enough to turn you into a rich person. If you just start spending it, it wouldn't take you that long to burn through it. That's why I think the better thing is investing. |
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shop2early
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Take care of yourself first, then share the wealth. LOL |
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Jeff W
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Put it on black |
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Steve P
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Invest it good growth stock mutual funds. |
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Tomel
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Depending on your age, I would put anywhere from 50% to 100% in several mutual funds with good track records and put the remainder in fixed income investments (U.S. treasury securities, CD's). The younger you are, the more I would put in mutual funds.
A million bucks is not easy to accumulate and, if invested wisely, will make your retirement years much more enjoyable. Also, having a significant sum of money in solid investments, gives you something very important -- personal freedom to take actions that would not be possible if you were living paycheck to paycheck (like changing jobs to doing something you really enjoy or enhancing your education). |
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Hot Stuff
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Put half into treasuries to get a guaranteed return exempt from state and local tax. Then put 25% into munis ahich will be tripple tax emempt (if you buy those issued by your state of residence) and the other 25% play the market. |
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guileshj
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Put it in the bank and use interest to make it grow. Don't waste it on parties and cars and such. |
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dilynn
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Invest in the future......ask yourself....in today's society how many kids "really" have a chance to "BE ALL THAT THEY CAN BE"? Very few....I feel the schools and the people who "run" them are failing the kids of America. The school budget cut backs, "NEW AGE" teaching methods (particularly sight reading and removal of phonics), alcohol and drug abuse, single parent families, and gangs, I can go on and on. This is what needs to be addressed.
We see it everyday and do nothing but complain to those around us who will listen. These kids need ADULTS to stand up for them and show them how important they are and how important the decisions made by them as well as the adults around them will impact their future. We need to tell America......it's time to take back the lives of our kids today so they have the chance to build for their future. |
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nmr1022
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i could use some of it for ya! and you could buy some toilets for ethiopia |
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lisawrbiatch
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Spend it ,build ye own house ,give sum to charity I dont know do the things u ave ever dreamed of doin |
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ghost
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Go to St. Martin in the Caribbean. |
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Marilyn Valachi
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spend it wisely you will be amazed how fast it would go! |
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Hello!
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Do the things you want to! |
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amdollar
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after allocating taxes, invest it and spend your gains |
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☼ S.O.S ☼
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Are you serious ? ;l
Mmm, if do, u should donate some of ur money to charity and others spent for ur business rather then spent on drugs or unneccerly things that bring you in jail. Ive heard many storys of millionaires end up to jailed or fines. |
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tOOt
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give ALL to ME !!!! lol...
invest in stocks or property.......... |
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Mark P.
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There is no way on earth you have a million dollars. You are also very young. So take your imaginary million and wipe your a$$ with it...I'll keep mine invested in my businesses... |
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mitch
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Keep 10% and share the rest. |
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Chuck T
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Free the whales !!! |
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madbaldscotsman
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Please give it to someone who can really use it... like me! lol |
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la buena bruja
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Give some of it to me. |
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said
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yeah, right... |
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