If you came into money.......

Lets say you come into a nice chunk of money, whether from inheritance or a lottery winning what would you do with it? Lets say the sum falls around 2-5 million.

Would you splurge and get a big house, big cars and live large or would you retain your current lifestyle and preserve your money in savings?


Me: I would pay off debts, get a better house, but not too big...I still have to clean it :p Defintiely get a better car so the Neon could rest...definitely something German...nothing too exotic. I would still keep my full time job just so I have a reason to get up in the mornings...or go part time and focus on my biz the other part of the day.
I would defintely like to do some travelling too.

What would you do?

get my dream garage(with modest apartment in small nook of garage, so I really never have to leave garage), finish all the current project cars, buy more project cars, start race team, buy a 60's Ferrari, buy more project cars, buy a horse, more project cars, new computer, leather furniture, maybe modest house(for using when not at garage/track), RV w/ mobile trailer/garage w/ raceteams colors and name across both, invest remaining money in high yield stocks(so I never have to do 'real' work ever again) and with the returns buy more project cars!!!!! :D :D :D

Im glad you posted this, I think about winning the lottery all the time.

I'd invest most of it and stay in my current job/career, but leave enough money for:

Pay off student loan
Nice House (maybe later, Im quite happy flatting with friends at the moment)
Lots of cool "stuff" (Tag heuer, Big TV, etc...)
2002 BMW M3 (daily driver)
Ferarri 355
couple of project cars.....probably a S13 200SX + something else

Lots of cool cars and stuff for my family:

VT HSV for Dad.
EVO 7 for my Bro.
Beemer convertible for mum.

Edit: I'd also gift enough money to my Dad to start his own sports car dealership, which is a dream of his:cool:

I'd blow it all on ale and hookers! just kidding.

I'd spend it though. I wanna be a rock superstar, big house, five cars, livin' large!

I would buy my own mystical mountain top where I can practice to become Vtec Master!!!







http://files.automotiveforums.com/uploads/763925guru-healing.jpg

Supe up my car to the max, buy a really exotic car, and travel all around the world :jump:

I'd save the rest for law school :D

I’d pay off the mortgage and cars. Build our dream house, buy our dream car/s (mine and Moon's), go on a long world trip, buy my parents a new house, pay off my brother’s house for him and when that was done I’d bank the rest and spend it whenever/wherever I felt like it on whatever I wanted. :D

Firsty I would buy a Penthouse apartment at the Metropolis, then get myself a Murcielago, Vanquish, 745Li, 360 Spider, M3 and R34 GTR VSpec 2 With a BIG Sticker across the rear window saying Remember Bathurst? Generally so HSV owners can read it when I toast thier ass at the lights :finger: Then buy my family a new house and my dad an M5.

Then simple things like a new computer, Big TV, with full home entertainment, Stereo, laptop, bigger bed, models (cars you perverts) etc.......

And of course turn my Jetta into a ground-pounding Street Machine :devil: :devil: :devil: :devil:

Then I would have about NZ $7 million left from about NZ $ 10 million, so I would invest it

Build my dream home
Buy my dream cars/boat.
See some people from AF that i'd like to meet when on a world holiday
Set up all my family with nice house's/cars.

Finish my car,
Buy a nice house, not too big.
Make some real-estate investments.

then maybe buy some project cars.

Buy a lake & the property around it
Build a nice house on the lake with a nice dock
Build a circle road track around the lake
Build a 1/4 track
Buy a bigger boat (Eliminator or something)
Build up our boat a bit more, 100mph isnt fast enough :devil:
Buy a few dream cars
Invest the rest, and open the tracks/lake for people to come race on

-Grendel

...And then get sued and lose it all when someone crashes while racing on the track...

Just playin'

Use it as the basis for starting up a business (no, I'm not going to tell you what business). Then, when it's big and profitable and I'm reeling in the dough, I would take the amount I'd originally been given, and either donate it to charity, someone worthy, or invest in startup companies of other people.

Originally posted by boingo82
donate it to charity

*Ahem..Ahem* ;) ;)

Cool post!

Since you mention winnings, I'm trying to hit the Mega Millions Lottery which is currently at 120 something million or more. What I would do?

Pay off all debts.
Buy a nice house, not big.
Hit my family and close friends off.
Buy a few project cars.
Take a well deserved vacation.
Invest money.

Originally posted by ci5ic
...And then get sued and lose it all when someone crashes while racing on the track...

Just playin'

Lol, make em sign a waiver :P

-Grendel

Originally posted by Grendel
Buy a lake & the property around it
Build a nice house on the lake with a nice dock
Build a circle road track around the lake
Build a 1/4 track
Buy a bigger boat (Eliminator or something)
Build up our boat a bit more, 100mph isnt fast enough :devil:
Buy a few dream cars
Invest the rest, and open the tracks/lake for people to come race on

-Grendel

And hopefully move closer to a Pizza delivery place :finger: :finger:

Originally posted by Moss1O6GTi


And hopefully move closer to a Pizza delivery place :finger: :finger:

Haha, screw that, I'd build one next to my track :P

-Grendel

I would probably blow it all in one week. (I'm no good with money)

I would buy a 1970's GTR
R32 GTR Vspec2
R33 GTR Vspec
R33 GTR Non Vspec
R34 GTR Mspec NUR
Autech Stagea (to be turned into a kickass sound car)

and a big house in the country with a secure garage to store them all

Share some with my family, donate some to my favorite charity "Make a Wish Foundation" (granting kids with serious illnesses their wishes), and buy myself my dream car, a 32 Ford Highboy Roadster and go cruising around the country. I've already had the houses on the hill, with a pool, etc., just need a place to call home when I take a break from cruising.

Originally posted by DVSNCYNIKL
Cool post!

Since you mention winnings, I'm trying to hit the Mega Millions Lottery which is currently at 120 something million or more.



I was toying with the idea of buying $10 or $20 worth of Powerball tix next time the jackpot is insanely high. Awhile back (maybe last 2 years??) it was up to $195 million and a retired couple won it.

Now here's another question for everyone.....we all say we will do whatever and then put some into savings, but if you look at your spending habits that you have now...could you really save some of it or would it take a miracle and a prayer?

For me, about 50/50. I always tell myself I will put into savings but if something really good comes along I end up spending it :bloated:

Originally posted by KatWoman


I was toying with the idea of buying $10 or $20 worth of Powerball tix next time the jackpot is insanely high. Awhile back (maybe last 2 years??) it was up to $195 million and a retired couple won it.

Now here's another question for everyone.....we all say we will do whatever and then put some into savings, but if you look at your spending habits that you have now...could you really save some of it or would it take a miracle and a prayer?

For me, about 50/50. I always tell myself I will put into savings but if something really good comes along I end up spending it :bloated:

Heh, I know what you mean... I always try to save some, but end out having a couple bucks left in my account right before I get my next check...

When I had my other job (waiter) I lived off my tips, and put most of my checks in saving... too bad I got fired :P

-Grendel

I was actualy talking about this with some friends a few weeks ago, it make an interesting conversation.

Anyway,
Buy modest cars for 4 of my closest friends, who all need a good reliable car.
Buy myself the 95 Lotus Esprit Turbo, and Elise that are sitting at work, along with a modest apratment in the City thats as close to uni as I can get it.
Make a large donation to the Uni ensuring life membership.
NEVER EVER WORK ANOTHER DAY IN MY LIFE!
Pay off my parents mortage etc, as well as buy my father a nice M5, and my mother a brand new V6 Accord.
Throw my kit car in the bin, and turn the Civic into a full race car.
Create investments that left me with an income of at least $100,000 per year. (priority over doing everything else).

But First! I would take one huge extended world trip.
I would travel light, but stay everywhere from cheap backpackers to the most expensive hotels, and try to experiance as much of the world as I possibly can.

I would then spend the rest of my time studying what ever I happened to feel like, traveling, and when I felt bored doing what ever work was avliable to keep me ocuppied. (from fixing cars, to driving trucks, to consulting and writing)

I would buy up an entire year's production of Perky Nanas and a landfill compactor....the look on Spec2 girl's face as she crushed them all to a sticky yellow pulp would be worth it.

:)

Originally posted by DVSNCYNIKL
Cool post!

Since you mention winnings, I'm trying to hit the Mega Millions Lottery which is currently at 120 something million or more. What I would do?


the first thing you would do is realize you didn't get 120 million

people are forgetting about one thing... TAXES


taxes will take away about half of your lottery winnings. (at least in the states)

hmmm, after a couple years of investing to gain extra cash, i would first buy some toys:
Mercedes Benz CLR (or maybe an older CLK-GTR GT) racer (same as the one that flipped at Le Mans, but i would upgrade so it didnt flip with me in it!)
Nissan Skyline R34 GTR Vspec II (tuned to in excess of 1000hp)
Nismo 400R
Ferrari Enzo
Ford GT40 (hopefully the Gulf GT40)
Pagani Zonda C12S
Porsche 911 GT1
Brabus SV12
Brabus EV12
Lancia Delta Integrale Evolution
Audi Sport Quattro

Should leave me with enough to buy a Sunseeker 105 motoryacht and a Mastercraft ProStar 190 and a Mastercraft X-star to waterski behind.

After that i would buy some houses in various places in the world and rent them out when i wasnt using them.




or perhaps i would just go straight out and buy a Ferrari 250 GTO instead and live in the car

Let's say after taxes, you bring home $3.5 million. Lets say you then invest that money in the stock market and earn an average annual interest of 6%(not unheard of by any means) Considering here in the US the average annual inflation rate is 3%, you would bring home a profit of about $210,000 from your investments at the end of the year. This places you in the $147,050 to $288,350 tax bracket, which is a base tax of $36,673 plus 35% of the amount over $147,050 ...which is $22,032

So out of the $210,000 you earned off of interest from your investments you only get to keep $210,000 - ($36,673 + $22,032)

So you actually take home about $151,300 annually.

I don't know about ya'll but I could definitely budget a life off of that...
:) :) :) :)

ps. This is all based on my limited knowlege of teh stock market and how it gets taxed...so I may be a little off.