Justatitle

Account Executive

You win 10 million dollars what do you do next?

Hypothetical discussion for today, if you were to win the lotto today worth 10 million what would you do?

Mind you 10 million likely takes care of any and all debt but you will probably have to work still because retirement and all that jazz. So do you open up your own business? Launch a dream of yours?

For me, it's take a full year of work off and then open my steakhouse.

🐱 Off-Topic

🏄 Personal Life

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63 comments

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CoorsKing

WR Officer

Retired King of the Coors Knights

I don’t have any debt today so first thing I’m doing is hiring a full time CPA.

Next I’m figuring out lines of investment, one being a house so I can stop sinking money into rent and turn that into a long term asset.

The only splurge purchase would probably be a custom Coors Light beer fridge…

Justatitle

Big Shot

Account Executive

Yeah, Luckily I bought my house 8 months before the pandemic hit, the mortgage is debt but good debt nonetheless.

Pay that off and all would be sweet

funcoupons

WR Officer

👑

If you win 10 million you could live a very good life off interest alone if you're smart about where you put it.

Me? I'd be selling all of my shit, outting myself on here by posting a video of me in the shower, then booking a private flight to my new home on Fuck You Money Island.

Justatitle

Big Shot

Account Executive

Low key, You can still post that video…

funcoupons

WR Officer

👑

I'm creating an OnlySimps account. Until I'm a 10-millionaire people MUST pay to watch me shower.

Justatitle

Big Shot

Account Executive

Bricked up

RealPatrickBateman

Politicker

🔪Amateur Butcher🔪

MUST😤

ultrarunner

Opinionated

Account Executive

👍🏼👍🏼

CuriousFox

WR Officer

🦊

CPA and a bitch ass lawyer to keep my info private. Then I'd be up to no good.

funcoupons

WR Officer

👑

Is the lawyer gonna bring you Moet or Dom?

CuriousFox

WR Officer

🦊

It sure as shit ain't gonna be Andre ☕👀

RealPatrickBateman

Politicker

🔪Amateur Butcher🔪

Id buy 100 acres for you and George and then go kill that lying bitch Carol Baskin!! 😤😤

Justatitle

Big Shot

Account Executive

Luckily my dad is a CPA so I’d have that covered, in telling you, my steakhouse would be lit.

CuriousFox

WR Officer

🦊

I'll be the first in line at your grand opening 🔥

Samsamoon

Opinionated

Associate

Wasn’t there a user in here who had both of those covered? I’m trying to remember who.

paddy

WR Officer

Director of Business Development

I'd place a chair on the stack of $10 million in cash and then I'd strap myself to that chair, light myself on fire and watch the entire world go mad.

Sunbunny31

Politicker

Sr Sales Executive 🐰

Love my job, but no way am I still working. Hire a CPA, and book that first flight out for a few months traveling ANYWHERE I DAMN PLEASE.

Filth

Politicker

Live Filthy or Die Clean

Porsche 959 & hire a real cuban/columbian to roll my Ls. Those are just some life goals I'd knock out.

Justatitle

Big Shot

Account Executive

never was a fan of porsche for some reason, don't know why, love me some lamborghini though

Filth

Politicker

Live Filthy or Die Clean

There were only 6 of the 959s made for true sport driving. Was one of the few Porsche models to fuck up the Ferrari at the time. Definitely a spending money to spend money move lol.

Lambos are always beautiful, no doubt about that.

Corpslovechild

Politicker

Inbound Sales Manager

L O S E R

Pachacuti

Politicker

They call me Daddy, Sales Daddy

substitute Maserati, and you've got yourself a deal

UrAssIsSaaS

Arsonist

SaaS Eater

@Justatitle and @Pachacuti have bad taste in cars. Respectfully of course.

Justatitle

Big Shot

Account Executive

drove the tricked out 911 all the time when I valet'd growing up and it never did "it" for me. The SLS by mercedes, the 67 chevelle and the F450 all got my blood pumping though

Coffeesforclosers

Notable Contributor

Director Sales and Market Development

I would probably take the money and create a war room with direct messaging, sorry not sorry lol

Justatitle

Big Shot

Account Executive

Officer it was this man right here

CuriousFox

WR Officer

🦊

Hey look who decided to grace us with their presence 👀

Coffeesforclosers

Notable Contributor

Director Sales and Market Development

ive been relatively active lately, its been a ride! Missssssseeeeddd youuuuuuuuuu

Corpslovechild

Politicker

Inbound Sales Manager

That's some fighting words. I like it.

peachykeen

Politicker

sae e-commerce

Make it rain 💸💸💸
Invest a lot, pay debts, travel, buy a new car or two.

mollybloomstanaccount

Politicker

AE (Account Executive)

Immediately take all of my friends and fam on a dope once-in-a-lifetime type dream vacation somewhere tropical
Then invest blah blah all the responsible stuff to figure out how to turn it into more money

1nbatopshotfan

Politicker

Sales

I would retire. Buy a house at a ski resort. Move the family there and possibly work at a brewery and/or some small job that interests me for a bit. Would also travel a lot.

UrAssIsSaaS

Arsonist

SaaS Eater

Depending on your ski resort/mountain town of choice, $10 Mil aint gonna cut it. Speaking from first hand experience.

UrAssIsSaaS

Arsonist

SaaS Eater

Hot take - $10 Million isnt THAT much money.

But if youre smart and invest effectively you can live off of the interest and returns while not having to work another day in my life, and that would be my plan.

Justatitle

Big Shot

Account Executive

Exactly, 10 mil would be awesome and all that but it really isn’t that much in the grand scheme of things.

Corpslovechild

Politicker

Inbound Sales Manager

Preach, I am 28. I can't live off 10 mill.

SaaSam

Politicker

Account Executive

I'm assuming that the 10 mil is what I'm getting after taxes. I'm with you on the taking a year off move. First thing I'm doing is spending time with family doing cool shit for a year and budgeting it in a way so as not to spend more that 1m in that year.

After my year off honestly I would just use my money to have my finger in a lot of pies by getting involved in or starting multiple businesses with people that are great at what they do and just need the money and business knowledge to make it happen.

Specific businesses. Buddy of mine is an awesome mechanic so open up a mechanic shop with all the tools needed to make it stand out.

Brother is a gunsmith so definitely starting a small gun manufacturing company.

Real estate

Ranching

Justatitle

Big Shot

Account Executive

Oh, I’ll put a finger in your pie…

ego

Politicker

Bartender

Dive into a big pile of timbits like Scrooge McDuck.

TennisandSales

Politicker

Head Of Sales

Pay off debt for my family, my parents, and sister.

then invest a bunch.

then try to figure out what to do with my life.

bandabanda

Tycoon

Senior AE Mid Market

Oooh good one
-debt payoff
-buy a home, maybe multiple rental properties
-new car for the wife
-college funds for kid(s)
-hire a professional CFP to help me invest, invest, invest. So I don’t HAVE to work again. But probably will anyway because I like to work some.
-travel a lot

HappyGilmore

Politicker

Account Executive

Slap it on a 3 way parlay jk jk.

I'd get a CPA to help shore up my finances, work with a financial advisor to invest some of it, and then go off the grid & travel for a bit.

fuzzy

Notable Contributor

CMO (Chief Meme Officer)

Sell my existing portfolio including properties. Buy a nice place near downtown. Buy a villa in Italy. Buy a property near the schools I’d want my kids to go to. Maybe open a franchise or two and coast on the rest of money. Possibly work on my beer bus business and take photography back up.

Fenderbaum

Politicker

Retired Choirboy🪕

Hide.

ultrarunner

Opinionated

Account Executive

Buy more Bitcoin! Donate a bunch to great charities and use the rest in a similar fashion to @funcoupons

braintank

Politicker

Enterprise Account Executive

I agree with 2/3 of this ;)

funcoupons

WR Officer

👑

I’m buying you BTC for your birthday

LightingLeader

Politicker

Specification Sales

Buy a nice apartment in Spain or Ecuador and disappear

FormerStartupJobHopper

Tycoon

Even if you're saying 10 mil is before taxes you can still set up an amazing life when you walk away with say, 6 million.

I'm the Boston area so first I'd probably set myself and my fiance up with a fire condo for 2 mil or so.

I'd probably spend close to half a mil on paying off close family's debt, setting them up with cars, etc.

On the extreme high end maybe I'd splurge another half mil on luxury/consumption items. Cars, clothes, furniture, tech. It would probably be way less than this but for the sake of discussion. Probably not a full 500k on this. Let's say I'd donate the rest of that amount.

At this point I'd have 3 million left. If you invest that in index/mutual funds, you'd be making 300k a year or so on average just from interest. I'd set my life up on less than half of that with no payments in the world, take some cush/fun part time job that meant something to me, and live it up for the rest of my life

DataSlangah

Politicker

SAE

You don't need to work, if you have no debt. Looking into my Financial Calculator, when I plug in the numbers with the assumption that I will earn 5% annually with compounding monthly, you can take payout of $50,468.77 monthly for 35 years. Here are the assumptions.

N = 420 = 35 years

I/Y = (5%/12 mo.) = .4167

PV = $10,000,000

Pmt = -$50,468.77

FV = $0

TheLaughingWolf

WR Officer

Business Development Manager

First I would take $1 mill and go to Vegas and not come back till it's all gone.

Once I got that out of my system, I would buy some rental properties, a fly fishing lodge somewhere in British Columbia, and live the dream.

Beans

Big Shot

Enterprise Account Executive

CPA - start earning on it.

I'm debt free so it's a matter of how much longer should I be working to sustain my life before I open up a dog rescue.

Justatitle

Big Shot

Account Executive

yeah, dog rescue in the middle of no where would be so awesome, north dakota dog rescue...

JustGonnaSendIt

Politicker

Burn Towns, Get Money

Step 1 - Hire lawyer to remain as anonymous as possible, if my state allows this thru whatever mechanism I won the dough. Also increase my umbrella policy because money makes people crazy.

Step 2 - Get together with my CPA and CFA and determine how to protect the nest egg and what kind of passive income/growth I can expect, and what risks accompany it. Adding another zero to my net worth means I should probably think a little deeper about my financial plan.

Step 3 - Show up to work tomorrow. Got a big deal to close this month, man.

Step 4 - Find my new bug-out property and properly outfit it

Step 5 - Splurge a little on a fun new car (if this happened today, it would be a CT5-V Blackwing)

Step 6 - Start re-thinking my long-term goals and determine if I want to stay on my current career path or want to make a change.

Step 7 - Commit to new long-term plan. Maybe start spending several months / year at bug-out property, because I can.

Chep

WR Officer

Bitcoin Adoption Specialist

Pay off all debts, buy 5 million worth of bitcoin, buy a house, and travel all the time with the remaining 4 million

Hoopnip

Politicker

Commercial AE

Ask any Zoom sales rep who’s been there more than 5-6 years and didn’t sell on the first day.

NotCreativeEnough

Big Shot

Professional Day Ruiner

Pursue passion projects. Open my own gym (since those rarely ever turn a profit), start a high end exclusive speakeasy style bar with nightly passwords, memberships, have to know someone to get in type of thing like during prohibition (love that 1920's era stuff). Hire a wealth manager to invest a significant portion of it in safe, long term investments since the 2 businesses I would want realistically won't profit millions. Probably finally take some golf lessons so I'm not the worst on the course like I currently am.

Corpslovechild

Politicker

Inbound Sales Manager

Assuming it's 10Mill post tax...

1- Pay off my parent's mortgage to say thank you for everything they have done for me.
2- Buy a few rental properties in good areas and collect passive income
3- get back to work. 10Million isn't that much money in 2022.

The_Sales_Badger

Notorious Answer

Account Executive

Dirty, dirty things.

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