If I did I would do the following.
A. Put about $20,000 into upgrades inside my house such as a new kitchen all new doors etc and then put it on the market. I would by doing that even in this economy walk away with another 70-80Gs over what I owe.
B.The wife and I LOVE the smaller Victorian style houses (2000ish sq feet or so) and have found some in quiet small towns doing real estate searches for less than 1/4 mil in nice condition. I would buy one and quit my job.
We would paint it and decorate it the way we wanted. She would buy a new Dodge Challenger , I'd keep my 05 Tacoma but pick up a 69' El Camino. Now at this point I have about $650,000 left.
I would def buy a few top o the line pro props like a full sized RC Regan Exorcist prop so we'll say another $20 Gs between props mask movies and books in a big monster room.
Another $20,000 on built in gardens and such in the yard. I've already done that in this house I own now and did most of the work myself.
Invest $100 Gs in solid funds that would yield a minimum of 5-7% per year. We could eat off the interest on those.
Over a half mil left. Retired at 50 with investments and almost no bills but food/property taxes and the usual. Not bad. Make it to 63 and collect social security (if there is still such a thing) :-\
I would also buy a few fire arms (AR15) in case all hell broke loose during some upcoming upheaval /disaster
Now If it was 10 million I would honestly only keep 2 mil for us and give the rest away to worthy charities that are proven legit and around for some time. Mostly childrens and animals charities.
Next?
I'd buy that 1933 King Kong chomping head and donate it to Unknown Primate's new monster museum.
SEAN FOR PRESIDENT!
I would go back to London as fast as I could. Business Class, Brit Air. Don't need a fancy hotel or fancy food...just comfortable. Then, I would GET MY AUTOGRAPH! I know it's there...waiting for me.. I would also make a donation to St. Paul's, Covent Garden for a memorial actor's plaque. I would spend the rest of my time, peaceably exploring...Book stores and Museums, and then come home. After that, I would invest three quarters of what was left, and live on the rest.
Elisabeth ededed
"....America is the land of my birth, but London is the home of my HEART..."
Get better digs & a vehicle, nothing out of middle class range, become a full time volunteer somewhere & enjoy being independently wealthy.
Stash it. According to the statistic makers, one million dollars is what we will need to be able retire comfortably.
Hit ebay and Cons for vintage monster collectables, until Karen gets ahold of me. She could then be a comfortable widow with the remaining fortune.
Pay off debt, give some to family, invest/save most, play with some and travel back to France for the wine and the Virgin Islands for the life. Any extra left travel some more...
Add on a "vintage" theatre to my home complete with all the best large scale horror props available and the best projection and sound equipment to seat about 20 people (with a "museum" room to the side dedicated to all my collectibles).
move to somewhere thats warm and where uncle sam wont get his hands on my money
Quote from: hammerfan on April 11, 2010, 10:32:24 PM
move to somewhere thats warm and where uncle sam wont get his hands on my money
He already did-- it did specify
after taxes ::)
Me? It is so highly unlikely, I would probably have a fatal heart attack. ;D
I would put at least $900K into savings for retirement or future kids' college educations. I'd give some to local charities. I'd pay off bills, get my affairs in order. I might spend $10K on collectibles, tops. I wouldn't go crazy on frivolous spending.
I'd take about 20k on fun.
Collectibles, I'd prob by myself a new bike and car thats driveable but in need of minor restoration--for later in life.
Thats it for that.
I'd buy a small house, and put the rest in the bank.
Maybe watch the economy and if theres money in it, buy another dump truck at some point.
Other than that, I'd pretty much stay the course.
I've realized I'm really simple and not very materialistic.
I'd also give a bit to some sort of animal charity.
About $30K to pay off the cars, and then into retirement! With a two year old now, at age 48.5, I'll be working until I'm 70!
OG
Quote from: Elisabeth on April 10, 2010, 04:15:37 PM
I would go back to London as fast as I could. Business Class, Brit Air. Don't need a fancy hotel or fancy food...just comfortable. Then, I would GET MY AUTOGRAPH! I know it's there...waiting for me.. I would also make a donation to St. Paul's, Covent Garden for a memorial actor's plaque. I would spend the rest of my time, peaceably exploring...Book stores and Museums, and then come home. After that, I would invest three quarters of what was left, and live on the rest.
Elisabeth ededed
"....America is the land of my birth, but London is the home of my HEART..."
Nice thoughts Elisabeth. I lived in London in the early 80's and loved it. The Portobello antique market was amazing. It was all amazing.
As for the $, I would buy an effing bigger house!
I would put all of it into savings and let the interrest supplement my income. I don't have many bill's.
This has been a 'what if' question of ours for awhile now. so:
-help out some close family
-move back to California!
-buy a new, bigger house
-open up the comic book store
-finally finish the novel, self-publish if necessary
-travel
-donate to SPCA, Komen, Big Brothers/Big Sisters
I'd put it all on black, Baby.
After the tithe, I would concentrate on getting away from the East coast completely, Massachusetts specifically.
I would own at least 1 copy of every horror film every made.Then, buy horror memorabilia. Then spend some money on friend, family, and having a good time.
I'd go inside & lock the door~
Buy a real Tyrannosaurus Rex skull and a bigger mantle piece!
I think a more fitting question would be; What wouldn't you do if you won a cool Million?
Quote from: CreepysFan on April 14, 2010, 09:31:52 PM
I would put all of it into savings and let the interrest supplement my income. I don't have many bill's.
We think alike. But of course I would move the hell out of Florida, buy a condo in L.A., and a beautiful Victorian somewhere around Asheville, NC.
Plenty left for charities, learn how to relax.
I'd buy out our local movie theatre, and show the movies I wanna see.....
$1000.000.00 sounds like more than it realy is, spend $500.000.00 on something (like a new house)and half of your windfall is gone.
I would provide for my father, tithe to worthy groups, i doubt i would have much left after that for myself.
Take around $60k to pay of my siblings college loans, give some to my Ma, take a vacation or two, and use the remaining $900k to buy an annuity to pay me around $4k a month for the rest of my life.
That's the scenario for $1 million. With $20 million or more I'd go insane, have custom life size monsters and animatronics everywhere.
3 words: Bronze Creature Fountain.
I hear you Gillfan,with $1000.000.00 you can loose it to easily but say it was $10.000.000.00 after taxes gives you what you need to do for others, make certain your own back is looked after for the rest of your life (barring another Great Depression), and have plenty to pamper your esthetic sense of style.
Baron- Nice to meet another of a like mind. The future is a scary thing, and hard to calculate.
In 1960 the average monthly rent on a NY apartment was, are you ready, $100.
Now its hard to find anything below $1500. So in 50 years the price increased 1500%.
Using that model, a NY apartment in 50 years will cost $22500 a month by 2060.
That may sound crazy now, but I'm sure in 1960 people thought it was impossible to conceive of people paying $1500 for an apartment.
Then of course food, and all the other expenses that come with living.
Conservatively, that means if you wanted to retire right now and live off of interest you'd need a minimum of $7,000,000. And that would only fund a very bare bones existence.
Mighty sobering thought.
I actually think within the next few years there are going to be retirement funds, like a 401k, for newborns and kids, because saving early is the only chance for most people.
Now I'm depressed.
Quote from: Gillfan on September 08, 2010, 12:15:21 PM
Baron- Nice to meet another of a like mind. The future is a scary thing, and hard to calculate.
In 1960 the average monthly rent on a NY apartment was, are you ready, $100.
Now its hard to find anything below $1500. So in 50 years the price increased 1500%.
Using that model, a NY apartment in 50 years will cost $22500 a month by 2060.
That may sound crazy now, but I'm sure in 1960 people thought it was impossible to conceive of people paying $1500 for an apartment.
Then of course food, and all the other expenses that come with living.
Conservatively, that means if you wanted to retire right now and live off of interest you'd need a minimum of $7,000,000. And that would only fund a very bare bones existence.
Mighty sobering thought.
I actually think within the next few years there are going to be retirement funds, like a 401k, for newborns and kids, because saving early is the only chance for most people.
Now I'm depressed.
You're right, that is depressing.
Our only hope is that all the monster collectibles and other
junk treasures we've accumulated will also increase in value, and we'll all be able to live off the proceeds of slowly liquidating our collections.
OK, unlikely, but I'm trying prevent us from all going off the deep end here!
Quote from: Moonshadow on September 08, 2010, 02:23:32 PM
You're right, that is depressing.
Our only hope is that all the monster collectibles and other junk treasures we've accumulated will also increase in value, and we'll all be able to live off the proceeds of slowly liquidating our collections.
OK, unlikely, but I'm trying prevent us from all going off the deep end here!
LOL...I was about to ask "So, how's that working out for ya!" but you pre-empted that!
It really depends upon what life style you have now and are willing deal with in the future. If you do the homework there are many many low crime/nice areas that you can buy a 1,200 sq foot ranch for like 70 K. That is a drop in the bucket compare to the 1 M after taxes. Aas long as you can cover the meds and don't have to work you are good to go.
My Mom who past away almost 6 years ago lived on her meager S.S and her interest of $300 K on her sold house for 3 years and left us kids like 50 Gs. Thanks Mom. Live cheap and invest smart. That is the key.
Lester, you are on the right track BUT the issue is that we don't know what the future hold. Property taxes could shoot up higher than expected, the government could decide to change the tax rate for interest income. Its a gamble. Right now $1 million sounds pretty good, I certainly wouldn't refuse it, 50 years from now, it will have a heck of a lot less buying power.
A few yars ago I was in the hospital for 4 days with food poisoning. The bill was over $20k. Luckily my insurance covered virtually all of it. Imagine a situation where insurance didn't cover it, image a larger bill, and imagine being on a fixed income. Things get scary fast.
All that said.. lets get back to the monsters we enjoy!
Actually i know a guy who has accumulated millions, he owns a little duplex in an out of the way little village and drives the same Jeep he has as long as i have known him, he retains his money by not spending it - living modest, in a low cost of living area of the country goes a long way towards making it last, it may not be fun it last that way.
Pay off all my house, car, my wife's college,
Buy Dr. Shocker's Monster Collection! >:D
I'd back a truck up to Danny Roebuck's backdoor, tell him his worries about what to do with his collection are solved and hopefully open a Monster Museum like Count Orlok's Nightmare Gallery in a hip section of town here in Louisville with the first half devoted to wax monster displays and horror history memorabilia and the second half devoted to the Roebuck Collection.
That may be the longest sentence I've ever typed.
Then I'd work there everyday, build a small apartment upstairs and open a small grindhouse, drafthouse type theater on site to show monster movies and other unusual cinema. I'd have sleepovers in the museum for friends!
Jeez, I think I overspent my million dollars.
1. Keep it a secret.
2. Open up a savings account in each of my children's names and put 100,000.00 in each acct.. Keep it secret until they turn 24.
3. Pay off my house.
4. Invest $100,000.00 in a Haunted attraction or comic book store, and keep it a secret as well that I am owner. Just let the patrons believe I am just another of the employees.
5. Stick the rest in a savings account.
What would I do?
Blow it.
Quote from: Anton Phibes on October 23, 2010, 08:56:14 PM
1. Keep it a secret.
2. Open up a savings account in each of my children's names and put 100,000.00 in each acct.. Keep it secret until they turn 24.
3. Pay off my house.
4. Invest $100,000.00 in a Haunted attraction or comic book store, and keep it a secret as well that I am owner. Just let the patrons believe I am just another of the employees.
5. Stick the rest in a savings account.
Those are all smart and very responsible steps to take, you would make the most of it the best way you could.
Quote from: Radioactive Rod Whitenack on October 23, 2010, 08:42:48 PM
Jeez, I think I overspent my million dollars.
You see, you blew it. It's easy to do. $1 million just doesn't go very far.
If I were to win enough money to retire on, I'd send my boss a singing telegram to quit.. With these lyrics, done to "row your boat"
Roast , Roast , roast in hell
burn until you're black
down into the pits you go,
never to come back
burn burn burn in hell
a bastard you have been
I hope you get your nuts chewed off
by a wolverine.
A million dollar these days isn't really a lot. But, if I did have that kind of cash to blow.
Then I would give a generous amount to my Patents and my Wifes parents. Without
them, we would have never been able to live through the tough times. ;D
We do indeed have to care for family as marsattacks666 rightly stated, that is a definite limitation.
As for the limerick by Dr. Madd, i love it - "You so Crazy!" ;D
Thanks.
Too funny Doc M. ;D ;D
Just hope ole Bossman doesn't become a monster fan and find this board. ;)
Quote from: Radioactive Rod Whitenack on October 23, 2010, 08:42:48 PM
I'd back a truck up to Danny Roebuck's backdoor, tell him his worries about what to do with his collection are solved and hopefully open a Monster Museum like Count Orlok's Nightmare Gallery in a hip section of town here in Louisville with the first half devoted to wax monster displays and horror history memorabilia and the second half devoted to the Roebuck Collection.
That may be the longest sentence I've ever typed.
Then I'd work there everyday, build a small apartment upstairs and open a small grindhouse, drafthouse type theater on site to show monster movies and other unusual cinema. I'd have sleepovers in the museum for friends!
Jeez, I think I overspent my million dollars.
You just reached into my brain and pulled all that out, didn't you?
Quote from: Dr. Madd on October 26, 2010, 01:47:23 AM
If I were to win enough money to retire on, I'd send my boss a singing telegram to quit.. With these lyrics, done to "row your boat"
Roast , Roast , roast in hell
burn until you're black
down into the pits you go,
never to come back
burn burn burn in hell
a bastard you have been
I hope you get your nuts chewed off
by a wolverine.
I notice many references to your boss Doc.........I'm sensing a wee bit of tension there. Call it intuition. ;D