What would you do with $1 million in cash

[CaliKid]

Quote:

Originally Posted by socca The annual gift tax exclusion for 2017 is still at $14k per person, according to the web.

PLUS $5.45m during life or at death so a mere million does not cause any gift tax implications if you want to give someone $25k or $50k or whatever....

[FiveDriver]

Quote:

Originally Posted by ejman 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

The Ticker symbol is HO, and you'll probably find it on the Pink Sheets.

Bada - Boom.

[marko]

Quote:

Originally Posted by socca The annual gift tax exclusion for 2017 is still at $14k per person, according to the web.

AFAIK the <$14K only means that you don't have to report it to the IRS. Over that amount and you report it but don't pay tax until you've gifted over $5M. (I think it's $5M)

I think you can give out <$14K to 1000 different people and not even have to report it.

[imoldernu]

Quote:

Originally Posted by djr59 This could be interesting. If you suddenly found yourself with a million of cash that was not invested in bonds or stocks, what would you do with it given the current stock/bond market.

To the kids... via an elder law attorney.

[NW-Bound]

Quote:

Originally Posted by ejman 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!

Well, for someone who already has everything else, why not?

I do not spend money on something that I would have to put its value on my Quicken screen. Currently, I have only investable accounts on Quicken, and my home values are not entered in. I guess I would add this Hi-Fi equipment if I bought them convinced that they are investable and not consumable.

[Markola]

Pssst. Plastics....

[bobneardc]

Add to existing portfolio and continue with three (used to be four) percent rule.

[socca]

Quote:

Originally Posted by marko AFAIK the <$14K only means that you don't have to report it to the IRS. Over that amount and you report it but don't pay tax until you've gifted over $5M. (I think it's $5M) I think you can give out <$14K to 1000 different people and not even have to report it.

For 2017, the lifetime gift tax exclusion is $5.49M (double that for a married couple).

[ownyourfuture]

I'd build a small home in the 'country'
Peace & quiet is something you can't put a price on.

[RobbieB]

I'd quit trying to DIY all these home improvements and just hire it all.

Move all the stuff out and store it
Do the house to my spec
Camp out in Vegas at the Bellagio and fly back a day every week to check
Eat, drink and gamble the other 6 days of every week until it was done

Sweet -

[NW-Bound]

Quote:

Originally Posted by ownyourfuture I'd build a small home in the 'country' Peace & quiet is something you can't put a price on.

For $1M, you can build a BIG country home.

[NW-Bound]

Quote:

Originally Posted by RobbieB I'd quit trying to DIY all these home improvements and just hire it all. Move all the stuff out and store it Do the house to my spec Camp out in Vegas at the Bellagio and fly back a day every week to check Eat, drink and gamble the other 6 days of every week until it was done Sweet -

Perhaps you can do this already, if you cut out the caviar, Wagyu beef, and XO Cognac.

[RobbieB]

Dude...

No wagyu, no caviar and no really good booze?

Besides, DIY and walking the dog are my only forms of exercise. I guess I would need to pay for a gym membership too?

[NW-Bound]

In that case, how are you getting any exercise in Vegas? Pulling on the one-arm bandit does not burn any calorie, and even if it works, you would have the right arm of Popeye while the rest of the body atrophies away.

Just teasing, as I am also one who never goes to a gym. I work around the house as a form of exercise too.

[RobbieB]

I like to play no limit hold'em, eat really good food, go to the spa and get rubbed and drink while I'm playing.

Usually never even leave the hotel/casino unless I'm really leaving (going home)

I'm due but the road to Reno is not good this time of year.

[ownyourfuture]

Quote:

Originally Posted by RobbieB I like to play no limit hold'em, eat really good food, go to the spa and get rubbed and drink while I'm playing. Usually never even leave the hotel/casino unless I'm really leaving (going home) I'm due but the road to Reno is not good this time of year.

I'd be right there with you, except I would prefer video draw poker.
Deuces or jokers wild.

[RobbieB]

I play a lot of that too, at the bar getting a bloody mary or 2 in the morning so I don't have to pay and also when I'm waiting for a seat at the poker table.

[kimcdougc]

Think I would take a trip around the world, first class. Then take a trip to Vegas, stay at the nicest hotels etc.

Come home and pay the two kids houses off. Hmm give some to charity (the local community center I volunteer for is in need of some cash).

[dallas27]

Probably would put 100% in my after tax account and use my existing allocation profile to invest it.

[RAchip]

Cover 5 years of my Netjets bills.