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12-28-2016, 02:18 PM
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#101
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Administrator
Join Date: Jul 2005
Location: N. Yorkshire
Posts: 34,128
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We would immediately start giving it to our children plus 1 off cash gifts to our siblings (all our parents' generation are dead). We can each give $15k per person without tax implications so we could give away $60k/year to our 2 children. ($30k each)
__________________
Retired in Jan, 2010 at 55, moved to England in May 2016
Enough private pension and SS income to cover all needs
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12-28-2016, 02:26 PM
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#102
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Mar 2007
Posts: 14,328
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This premise would make a great TV show. 
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12-28-2016, 02:30 PM
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#103
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jun 2002
Location: Texas: No Country for Old Men
Posts: 50,021
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+1
I wonder if John Beresford Tipton Jr.'s heirs would be interested in funding a pilot?
__________________
Numbers is hard
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12-28-2016, 02:56 PM
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#104
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Moderator Emeritus
Join Date: Sep 2007
Posts: 17,774
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 Quote:
Originally Posted by NW-Bound
I observed that he asked in the forum "Stock Picking and Market Strategy".
If he asked in the "Life after FIRE" forum, then his intention might be more about indulgences.  |
Some of us noticed that ( http://www.early-retirement.org/foru...ml#post1816913)
__________________
“Would you like an adventure now, or would you like to have your tea first?” J.M. Barrie, Peter Pan
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12-28-2016, 04:15 PM
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#105
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Jul 2008
Posts: 35,712
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Quote:
Originally Posted by Bestwifeever
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Yes, many did notice that the question was about investment choices.
Quite a few were so ready to spend it though, or to use, ahem, "alternative" investment ideas.
__________________
"Old age is the most unexpected of all things that happen to a man" -- Leon Trotsky (1879-1940)
"Those Who Can Make You Believe Absurdities Can Make You Commit Atrocities" - Voltaire (1694-1778)
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12-28-2016, 04:26 PM
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#106
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Jul 2008
Posts: 35,712
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Quote:
Originally Posted by REWahoo
+1
I wonder if John Beresford Tipton Jr.'s heirs would be interested in funding a pilot?
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I missed the rerun of "The Millionaire" series, and never watched a single episode. To be fun, it should have plenty of unintended consequences. For example, a person buys a beach-front property only to have it flattened by a hurricane. Or he buys a fancy diesel-pusher class A motorhome to get stuck on a remote Alaskan highway, with equipment malfunctioning, in a storm and with grizzlies circling, etc...
But I guess the original series might have exploited all these ideas already.
__________________
"Old age is the most unexpected of all things that happen to a man" -- Leon Trotsky (1879-1940)
"Those Who Can Make You Believe Absurdities Can Make You Commit Atrocities" - Voltaire (1694-1778)
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12-28-2016, 04:34 PM
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#107
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Administrator
Join Date: Jan 2008
Location: Chicagoland
Posts: 40,714
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It was the subject of a film made in 1932 If I Had a Million (1932) - IMDb
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A dying tycoon gives million-dollar windfalls to eight people picked from the city directory.
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W C Fields starred in one of the segments, very funny, titled "Road Hog" about one man using his windfall to buy a fleet of cars and use them to run bad drivers off the road.
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12-28-2016, 07:44 PM
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#108
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Thinks s/he gets paid by the post
Join Date: Sep 2016
Location: Acworth
Posts: 1,214
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Step 1 - Put in my two week notice.
Step 2 - Pay off remaining mortgage balance (~$125k).
Step 3 - Invest $700k in my brokerage account.
Step 4 - Max out IRA contribution for next year.
Step 5 - Give my brother $100k for a down-payment on the house he finds to buy.
Step 6 - Buy a new(er) car ~$20k plus trade-in value.
Step 7 - Use the remainder as my 2017 spending money.
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12-28-2016, 07:50 PM
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#109
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Thinks s/he gets paid by the post
Join Date: Nov 2005
Posts: 1,600
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Quote:
Originally Posted by Alan
We can each give $15k per person without tax implications so we could give away $60k/year to our 2 children. ($30k each)
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The annual gift tax exclusion for 2017 is still at $14k per person, according to the web. 
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12-29-2016, 08:27 AM
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#110
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Thinks s/he gets paid by the post
Join Date: Aug 2005
Location: Crownsville
Posts: 3,746
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If this was $1M, tax free, in addition to what I already have, I'd buy my "early retirement" home, and then, once that's secured, go ahead and retire.
Only reason I'd want the home in place first, is that I imagine it's easier to get a mortgage while I still have a j*b. Or, even if I could get a mortgage while retired, they might want a bigger down payment, and I'd rather have the assets working for me, compounding, rather than tied up in home equity.
I imagine that my final time at w*rk would be difficult, though. Even now, I'm having problems coming in to the office. I imagine that once I know I really don't have to, I'll be itching to get out of here.
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12-29-2016, 08:30 AM
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#111
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Jun 2003
Location: Florida's First Coast
Posts: 7,723
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I would Wake Up! or..... Keep it to pay for health care after ACA.
__________________
"Never Argue With a Fool, Onlookers May Not Be Able To Tell the Difference." - Mark Twain
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12-29-2016, 03:43 PM
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#112
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gone traveling
Join Date: Mar 2015
Location: Greenville
Posts: 653
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My favorite...
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12-29-2016, 04:10 PM
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#113
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Thinks s/he gets paid by the post
Join Date: Feb 2004
Location: Switzerland
Posts: 1,047
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1. Send it to Washington to help pay down the national debt!
2. Come out of retirement and begin a new career as a stand up comedian.
-BB
__________________
FIREd, April 1, 2015. My Retirement Benefits Package includes: 6 months vacation, twice a year.
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12-29-2016, 05:12 PM
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#114
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Moderator
Join Date: Feb 2010
Location: Flyover country
Posts: 25,356
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If I suddenly received one megabuck totally out of the blue, I know what I would really like to do with it.
Quietly, unobtrusively, I would leave a $100 bill as a tip everywhere I went to eat. Also any other places where a cash tip would be appropriate. I could do that 10,000 times, so really for the rest of my life. I think it would be great fun and a very good use of the dough.
Actually, I often do that now, but generally with a $10 bill where it wouldn't be expected. I'm sure it makes someone's day and it certainly gives me a good feeling.
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12-29-2016, 05:50 PM
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#115
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Nov 2010
Location: Sarasota, FL & Vermont
Posts: 36,371
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Quote:
Originally Posted by Pilot2013
My favorite...
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You don't need $1 million to do that! A friend of mine has the nickname "Lucky" for good reason.
__________________
If something cannot endure laughter.... it cannot endure.
Patience is the art of concealing your impatience.
Slow and steady wins the race.
Retired Jan 2012 at age 56
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12-30-2016, 01:12 PM
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#116
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Moderator
Join Date: Oct 2010
Posts: 10,723
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Quote:
Originally Posted by Meadbh
I didn't even notice what forum it was in, because I was looking at the portal view.
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I wrote the "splurge" comment without knowing what forum it was in.
It seems like most posters here have their finances in balance, and are happy with that balance (or at least claim to be happy with that balance). So, logically, adding another "$35K/yr" shouldn't be required. Thus, doing something "stupid" seemed justified. By "stupid", I mean something you simply could not do without the windfall. My choice (buying a big boat) probably has something to do with my not being able to spend a dime any more without tax consequences.
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12-31-2016, 05:38 PM
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#117
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Aug 2013
Location: Texas
Posts: 10,932
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12-31-2016, 05:53 PM
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#118
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Thinks s/he gets paid by the post
Join Date: Feb 2007
Posts: 2,525
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Quote:
Originally Posted by FUEGO
Spend half on hookers and blow, $100,000 to a mix of charities, then waste the rest on half stocks and half bonds. I'd like to up my bond holdings a bit.
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Been looking for the symbol for this hookers investment you mention - can't find it. Considering your track record it must be a good one! please share 
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12-31-2016, 06:19 PM
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#119
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Thinks s/he gets paid by the post
Join Date: Feb 2007
Posts: 2,525
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NW-Bound keeps insisting that I must buy the Focal Grande Utopia EM Speaker at about $200k or so (it varies), so to go along with that theme, I must get the Onedof Turntable ($150k) Onedof turntable spins your vinyl for a cool $150,000. I have actually listened to this turntable and must say it is sublime - brought tears to my eyes. But we still need an amplifier let's see, the Pivetta Opera will do ($500k) (haven't heard this one but sounds impressive) but this purchase might leave us a bit shortchanged for preamps,speaker cables, interconnects and such. I mean, $150K for cables and other ancilliaries is really cutting it close no? The horror of not having sufficient funds!
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01-01-2017, 12:01 PM
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#120
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Dryer sheet aficionado
Join Date: Jan 2011
Location: Southwestern Connecticut
Posts: 37
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I'd quite my job search and relish in my newfound freedom. I'd get a new kitchen and central AC here.
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