What to do after you reach 1 million?

[Peaceful_Warrior]

I am looking to start an capitol UN-intensive side business that will only make me $100/month. I don't know what yet, but I'm researching and I don't know what yet either. I just know I should do it.

That's where I'm at right now. I'm leaning towards possibly a network marketing company, but haven't found one with products and services that I would use (and therefore believe in enough to share with others). That's been a challenge.

I think long-term I am going to end up in real-estate, but even then I intend to have other passive sources of business income. My idea of a good business is one in which it either runs itself (turnkey websites, etc) once I get it up and running (and can expand when I want to, instead of "have" to), or one in which I can divy up almost all responsibilities to others (i.e. property management for rental real estate).

I don't want a j*b... I want income and wealth the "lazy" way.

 

[Spanky]

For one, I don't think 15% in commodities is risky at this time. Besides, I am diversified within that class. I own IGE, DBC, PHO, PBW, and GDX. So I own alternatives, gld producers, gld, oil futures, water. It is important to be diversified within classes as well.

Why do think investing commodities now is not risky now? Are you expecting inflation will escalate soon?

 

[Harm]

Inflation will escalate, a whiff of recession, and commodities will be the first thing people (have already) who are late to the party will flock too. Look at the pricing action right now in gold and oil. It has been strong. Commodities are in a long-term bull market.

Nevertheless, 15% in commodities isn't very risky too me. Probably because of the way I feel. I also have 25% in bonds to offset risk. So, in effect, I've build my balanced portfolio.

I've owned pharmas and banks/utilities for 3 years and they are strong too. All signs point to the smart money getting ready for some sort of recession.

 

[cute fuzzy bunny]

Commodities are in a long-term bull market.

I guess none of us really know whats going to happen, but I'd bet my first million that this is not going to be the case...

 

[P.S.]

Great posts.

For one, I don't earn the $150,000 salary alone. I earn it with my wife.

Yes, I've always told my wife that 2.5 million is the magic number, the day she could "retire".

So what does your wife want? Since presumably that 1 mil net worth is both of you.
Does your wife prefer to stay at home?

 

[WanderALot]

I don't have a problem believing it possible at all. In 1987 I was 28 years old and I lost nearly your net worth in a day.

Now, that would be an interesting story.

I think Leonidas owes us at least 2 interesting stories!