Hypothetically, what would you do if you unexpectedly received $1.5m today? No caveats, no depends on situation, no bs responses. Genuinely interested in your answer. Thank you.

likefunny
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Business as usual, but decrease my expected retirement age down to 45 from 55.

likeupliftingsmart

This.. but for me 55 to 50..

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Leave the ad business. 2nd property as rental, travel. Do lots of yoga and maybe keep up a little business for money. I’m 58yo - come to think of it maybe I’ll just do this anyway.

likeupliftingsmart

Do it!!!

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Pay off the mortgage. And add guacamole at Chipotle a couple times.

likefunnyuplifting

Get fat to retirement.

Lol imagine thinking $1.5mm is retirement money…, many 25-35 year olds have that if not 2-3x and know that you need minimum $5mm to even THINK about retiring to a very low expense lifestyle.

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EY6 enjoy your wealth and try to effing do something to uplift the underprivileged. Otherwise, what's the point, since everyone will anyways go to the same place lol

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1.5m isn’t a lot here in NY, but I’d probably buy a 500-600k house with 20% down, invest the rest. Maybe bring my mom on a dream vacation. Nothing overly exciting

likesmart

Thank you so much. Sound info on the police dept. Worth a million.

So, what I'm hearing is that even if you get a windfall of net (let's assume post tax) $1.5m, none of you who have responded so far, can walk away from your corporate job right now? It's a sad state of affairs.

I'm already retired, so that's that. Spouse who is still working, will retire. Sell off current home; buy a slightly bigger home. Buy a Tesla. Invest the rest. Just live the current life, with a few more international vacations (currently do about once every two years).

likeupliftingsmart

GCG1, Thank you. I have been to Lake Como. It is absolutely gorgeous. It is a good location too. May I ask why this location and not Tuscany or by the sea?

Propose. Create a trust for my brother’s medical expenses. Take my parents on vacation, possibly buy them a vacation home. Take the in-laws to Alinea. New wardrobe. Trainer.

Invest the rest.

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Global Director 1: DM me.

Special Needs Trust, or Donor Advised Trust is designed for support/ medical throughout disability.

likehelpful

Set aside 40% for IRS 🥴

likefunnysmart

Or more if single and no dependence living in NY ot CALI!

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Get drunk

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Buy a 911 and invest the rest

likeupliftingfunny

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Probably buy a house and then save/invest the rest

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Buy a house for both of our parents near us so they can be closer to our little girl

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Immediately start considering how to evade taxes lol

likefunny

I’d start considering how to form an entity so that a lawsuit, medical emergencies, or divorce can’t access it.

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I’ve been feeling very triggered by some of the issues in our current food system. So if I inherited 1.5 million tomorrow I would quit my job and help to raise awareness to the animal cruelty in our current system and devote my time to planting trees and farming. That is all.

likeupliftingsmart

Splurge a bit and invest the rest , so that it grows even more

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Pay off student loans, buy parents a house, buy a new camera, donate to charities and invest the rest.

likeuplifting

Pay off my loans, my house, invest in my child’s future education. Invest and donate the rest (minus a nice much needed vacation).

likesmart

Guess I could finally afford to replace those 1970s laminate counters in the kitchen.

likefunny

150K to tithing/donation

100K to nephew's custodial IRA

200K towards down payment (triplex if I'm lucky enough find or reduce down to 100K towards 3 bed 2/2.5 bath home in Chicago worth 500K+)

900K DCA into index funds and a select equities

125K to Crypto

25K in the bank - mostly undecided, but probably reserved for personal spending this year and over the next few years on vacation/travel/gifts/and additional donations.

If I wasn't in the city, I would cop that Model S Plaid as the cost would be less than 10% of my net worth and my retirement number would be already be 80% funded.

Still wouldn't pay my students loans which are at 2%.

I would probably only work a few more years (in industry).

I already have everything I want and need except for real estate. Based on my current income and net worth, I'm on track to retire by 45.

Still need to find a wifey though!

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I heard wives can easily be found at libraries and farmers markets.

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Pay off student loans and dump the rest in index funds. You’re looking at generational wealth if you let that compound over several decades.

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