Submitted by Temperance on Fri, 09/09/2011 - 14:18.
It’s a hard one. But give some money to family like help my sis get buy her first home and help out mine and Bloods families with the ones they already own and help their dreams come true.
Buy a new house! and rent out our little one that we have at the moment, (yuss bigger home = more doggies) and buy Blood and I new CARS to go in the 6 car garage.
And then I suppose I would do something semi sensible like leave the rest in the bank accumulating interest and money aside for Blood drop when he is older :)
So say you now have the $10m (as they pay it out slowly, rather than a lump sum). A term deposit at Westpac for 2 years could fetch 4.80% compounding interest.
This would result in you making $980k in two years. Paid every two years, you would be earning an extra $490k every year. If you were to leave it for one year instead, you would get $420k every year paid yearly.
Now, if you were in University, and you had a four year degree… Providing that you were willing to let the money sit for the four years untouched, you will have made $2.38m while at university. With that you can buy a house and buy a car. You will still have the $10m in the bank untouched. With that, you put it in for another 2 year term deposit, and keep earning the $490k p/a on top of what ever job you have.
Now, with a house, car, degree, job, and still having the $10m you can afford to spend the money you earn from your job on holidays and such.
If you want to pay your child’s university, you could save one year’s income of $490k into a trust fund for them from the age of 1. If you made a 5 year term deposit on that (at 6%), your kid would now have $650k in their bank account, and you STILL earn $490k p/a, and STILL have the $10m in the bank.
The interest rates are what Westpac in NZ currently has for their term deposits.
EDIT: Fixed all the numbers for a $10m principal rather than $1m…
hate to break it to you chum, but you pay TAX on back account interest earned…. (that amount would be close to, if not over, 51c in the Dollar), so you’d only get HALF what your estimating! The Kangaroo and the Emu (Kiwi in your case) will get the the other half (for NOTHING).
No dont get me started on the bank fees associated with that either!
(oh and the MAJOR flaw with your logic is the DEGREE… WTF do you want a degree for when you’ve got 10Million!? Its a waste of 4-5 years!)
Yeah… If it was $1m you’d still need a job :-P Like I said; misread.
Anyway, that sucks about tax :-( Guess that’s what I get for going to school where they don’t teach you this stuff… Sure, I could find it out, but thought I knew it from the business classes I did…
Submitted by DELTA2ALPHA on Mon, 12/09/2011 - 09:07.
I would buy up some nice land in the outer areas, some where up and coming but yet untouched by the more recent booms. Some thing that is low incoming now, but ear marked for extra development (like what I did with my last house, made $181,000 but had to split that with the ex-wife). Build 10 apartments on the block, probably setting me back about $5 million. Use the rent from that to live off and sink $4 million into nice houses in WA, QLD, VIC and TAZ. About $1 mill a house except for Taz, where I could probably get away with just half of that. The final million will just be up front spending cash in the bank, I like that TV… buy it, want a boat… buy it.
There was also the option of doing my own development company. Buying blocks of land and building base houses, coming in and doing all the painting, floors, gardens and styling, then selling it off and starting again. That was my $1 million dollar plan any way. Seemed like a good way to keep me busy.
i’d buy a nice office somewhere, buy state of the art equipment, hire a million programming monkeys and MAKE A DECENTGAME… Employ you all as consultants/employees to play games alday and tell the programmers they are shiet!
or start my own secure serverfarm and bank off of this cloud computing nightmare which the government is about to have!
Comments
Mine
Nothing…
Literally nothing.
Until I’m bored and and I have the urge to do something. Whatever that something is, I’d figure out a way of making a long term job out of that.
(BTW, back on Bored… movies top 3. Should have included Office Space in my list. Peter’s answer to this question inspired my answer today)
hmm
its a hard one. Nice car and house. and we would come to ausy to visit you all lol. and new race car too lol
buy splash damage
so they could bring out etqw2
ETQW3
bring 0ut Enemy Territ0ry Quake Wars 3
f0r the gamer buy the gamers….
0hh and d0n’t f0rget it WILL HAVE night levels….
n0mad
-
It’s a hard one. But give some money to family like help my sis get buy her first home and help out mine and Bloods families with the ones they already own and help their dreams come true.
Buy a new house! and rent out our little one that we have at the moment, (yuss bigger home = more doggies) and buy Blood and I new CARS to go in the 6 car garage.
And then I suppose I would do something semi sensible like leave the rest in the bank accumulating interest and money aside for Blood drop when he is older :)
Term Deposit
So say you now have the $10m (as they pay it out slowly, rather than a lump sum). A term deposit at Westpac for 2 years could fetch 4.80% compounding interest.
This would result in you making $980k in two years. Paid every two years, you would be earning an extra $490k every year. If you were to leave it for one year instead, you would get $420k every year paid yearly.
Now, if you were in University, and you had a four year degree… Providing that you were willing to let the money sit for the four years untouched, you will have made $2.38m while at university. With that you can buy a house and buy a car. You will still have the $10m in the bank untouched. With that, you put it in for another 2 year term deposit, and keep earning the $490k p/a on top of what ever job you have.
Now, with a house, car, degree, job, and still having the $10m you can afford to spend the money you earn from your job on holidays and such.
If you want to pay your child’s university, you could save one year’s income of $490k into a trust fund for them from the age of 1. If you made a 5 year term deposit on that (at 6%), your kid would now have $650k in their bank account, and you STILL earn $490k p/a, and STILL have the $10m in the bank.
The interest rates are what Westpac in NZ currently has for their term deposits.
EDIT: Fixed all the numbers for a $10m principal rather than $1m…
Also
I misread the title… I read $1m rather than $10m.
booze and
hookers or put all on
blackredblackredblack.5million
Id get 5 million $2 Hookers….
get em to give 5 million consecutive BJs!
but i’d probably get arrested for attempted suicide before i spent all the cash…
dehydration!
Oh and Micro
hate to break it to you chum, but you pay TAX on back account interest earned…. (that amount would be close to, if not over, 51c in the Dollar), so you’d only get HALF what your estimating! The Kangaroo and the Emu (Kiwi in your case) will get the the other half (for NOTHING).
No dont get me started on the bank fees associated with that either!
(oh and the MAJOR flaw with your logic is the DEGREE… WTF do you want a degree for when you’ve got 10Million!? Its a waste of 4-5 years!)
$1m vs $10m
Yeah… If it was $1m you’d still need a job :-P Like I said; misread.
Anyway, that sucks about tax :-( Guess that’s what I get for going to school where they don’t teach you this stuff… Sure, I could find it out, but thought I knew it from the business classes I did…
I would buy up some nice land
I would buy up some nice land in the outer areas, some where up and coming but yet untouched by the more recent booms. Some thing that is low incoming now, but ear marked for extra development (like what I did with my last house, made $181,000 but had to split that with the ex-wife). Build 10 apartments on the block, probably setting me back about $5 million. Use the rent from that to live off and sink $4 million into nice houses in WA, QLD, VIC and TAZ. About $1 mill a house except for Taz, where I could probably get away with just half of that. The final million will just be up front spending cash in the bank, I like that TV… buy it, want a boat… buy it.
There was also the option of doing my own development company. Buying blocks of land and building base houses, coming in and doing all the painting, floors, gardens and styling, then selling it off and starting again. That was my $1 million dollar plan any way. Seemed like a good way to keep me busy.
thinking properly, with 10 million
i’d buy a nice office somewhere, buy state of the art equipment, hire a million programming monkeys and MAKE A DECENT GAME… Employ you all as consultants/employees to play games alday and tell the programmers they are shiet!
or start my own secure serverfarm and bank off of this cloud computing nightmare which the government is about to have!
“.0hh and d0n’t f0rget it
“.0hh and d0n’t f0rget it WILL HAVE night levels….”
Can’t have night levels; Strogg are afraid of the dark. :P~
As for the $10 mil, I’d buy a internet cafe and run LAN games with a trilling petabyte internet connection
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