“Millionaire” doesn’t really say much. What currency are we talking about? And how many millions?
One million in my local currency would pay off my condo and leave me with enough leftover to buy a new place that I could rent out and would yield a nice monthly amount, but far from “fuck you” money. One million dollars would make me quit my job today.
I gotta be nitpicky here… how would I know? Would I have like a chase deposit alert? A check in the mail? Bag of cash falls from the sky?
As far as what I’d do, I don’t know, still gotta bring my kid to school and feed the dog. Probably pay for the Aruba house outright maybe? Definitely getting audited if I’m being real
One million would do quite a bit, BUT, given the current housing market where I’m at, that would buy a house and the rest to a new car and property taxes for the next decade or so
Really depends on what we mean by millionaire. If it’s just a few million, make sure all my debts ,except my house loan were paid off. Buy my FIL a home whenever he wanted. Set up the rest in retirement accounts and go about life until retirement.
If it’s a lot of millions, well I’d do all of the above, excel after accounts were set up, money was given to those we wanted to take care of and we were sure we wouldn’t need to work anymore, I’d quit. We would do some renovation work on our home. I’d start volunteering more at the places I like to be involved with and id try to find more ways to help my community. And yes, I’d travel more too. But I don’t want a mansion or even a big house, I don’t want a fancy car. I like my simple life, I just want to add more travel to it
I’ve read that a lot of lottery winners end up losing everything a few years in, so after a not too extravagant trip to Italy, I’d hire a financial planner to help me open a cozy restaurant, and figure out the best way to share with friends and family and local animal shelters and libraries. I wouldn’t want to change my lifestyle too much, because I like simple things, and I really like the idea of a secure future with less anxiety about money.
If it were one million after taxes, I’d take a year off and live inexpensively but comfortably to rejuvenate while planning how to make the most of the rest of the million.
It takes $5 million to retire comfortably now in the US assuming you live from 65-100.
So while I’d need to still work, it would definitely speed up my early retirement plans.
Pay off my mortgage and open a rescue animal sanctuary that has facilities so the local kids, elderly and other groups have somewhere to socialise out and get to spend time with the animals. Id also host events just because its fun.
Buy a nice house. Not a fancy one, just one I’d want now but not have to stress about buying. Then I’d take my kids to travel the world over the summer. I’d then put them in the next private school money can buy. I’d hire a nanny but definitely not full time. More so just to have a second set of hands for logistics when one child has to be in a different place at the same time as the other. I would absolutely hire a housekeeper because I am not a naturally tidy person so it takes a long time to get through my chores. I think I’d really like to just make tweaks that I can’t afford to make now and my life would be pretty fucking amazing
Anonymous? Do you get to go back to being yourself? My answer is always the same for these types of questions. I would consult a financial advisor. Aren’t I boring!
Donate 10% to charity, pay off my husband’s student loans, pay off my parent’s house, pay someone else to finish the renovations on our small house (currently taking forever because we are DIY-ing it), hire a cleaning service to do a deep clean once per month, and figure out how to create and market my million-dollar-idea that I’m too broke to actually get up off the ground right now.
Millionaire as in only one million, hundreds of millions? Large difference. One million would barely cover a starter home in Canada. I may have $200-400K left over depending on how dilapidated of a home I go with. Hundreds of millions would last me longer with even some for charity.
I have nothing to pay off or any debt and I do not crave any sucsess or material wealth, so I would buy a flat/appartement with a vegetable garden if possible and provide for a few people in need housing and a bit of personal care. I have a diploma in craftsmanship and many skilled friends, so renovations would be no problem and my parents where farmers, so the garden would be just awesome. I would love to cook sometimes for a lot of people and I went myself through a lot (hit rock bottom due to undiagnosed health issues and became homeless) so could give some emotional support and an open ear to listen to. I don’t want children, so I have time to care others. But that’s just a nice phantasy 🙂
How many millions are we talking? $1 million in our current VHCOL area isn’t enough to retire on. $5 million, we could retire immediately and move somewhere cheap and live a life of luxury and travel.
If it was “only” a million USD I’d buy a modest house for cash and a new car. That would wipe the funds out pretty much. I’d invest the rest of there was any.
If it was “fuck you money” I’d hire someone to manage it, buy a house, a car, and open a charitable foundation in my area to work to provide more services to our unhoused population. And I’d travel some.
1 million? I’d stick it immediately into a high-yield savings account (or whatever an advisor says is best) and continue as normal, except that the people I love might notice I pick up the tab a whole lot, and that they’d mysteriously have windfalls happen if they were in trouble.
Several million? Figure out the most effective ways to increase the quality of life for people marginalized and/or in poverty, then grant, make foundations, and give as much as possible.
I wouldn’t say a thing. You might notice little hints some extra peace in my eyes, quiet generosity, maybe a few coincidences that help the people I love. But I’d never make it obvious. I’d move in silence, be smart about it, and take care of my family first and foremost. They’d feel the love long before they knew the reason.
I’d buy a house near the beach (not necessarily beachfront, but within a short walk/drive to the beach) and I’d make sure I have some kind of income (whether it’s a full-time job or some kind of passive income) to keep up with property taxes, utility bills, groceries, etc.
Quit my job, pay off debts, take a month or two vacation, then figure out the new plan without financial obligations looming over my every ability and decision
I wouldn’t quit for sure lol. I’d max out my retirement accounts each year, pay off my car, buy a house cash (all the ones around me that I like are about 600k for like a 4bd house). Go on vacation somewhere at a 5 star all inclusive resort. Wouldn’t tell anyone. Set up future kids college funds
Not too much different. I’m out of debt and own a house I like in an area I like. I don’t like to travel. I’d try to keep it a secret from other people, though.
I would get land and build some houses for my family. If I’m just thinking of myself, I’d either move to a pot legal state or stock up soooo much. I’d have it all. I’d be like one of those loonies living on a pot farm like a different species
Comments
“Millionaire” doesn’t really say much. What currency are we talking about? And how many millions?
One million in my local currency would pay off my condo and leave me with enough leftover to buy a new place that I could rent out and would yield a nice monthly amount, but far from “fuck you” money. One million dollars would make me quit my job today.
I gotta be nitpicky here… how would I know? Would I have like a chase deposit alert? A check in the mail? Bag of cash falls from the sky?
As far as what I’d do, I don’t know, still gotta bring my kid to school and feed the dog. Probably pay for the Aruba house outright maybe? Definitely getting audited if I’m being real
Day one? Panic and Cry
I’d share some of it with my bestie cus our lives are about to changeeeee 💃💕
Post it on reddit to get ideas😏
One million would do quite a bit, BUT, given the current housing market where I’m at, that would buy a house and the rest to a new car and property taxes for the next decade or so
Wouldn’t you like to know?
Be very happy.
I feel like just the generic answers
Pay off debt. Purchase a new home. Go on vacation. Set my kids up for college or after high school. Invest. Help out friends, family, and community.
Buy a nice house
Invest more money, travel the world, buy a house in the Italian countryside to settle down in.
Divide the money between myself, my siblings, and my cousins (I’d put it in a trust fund for my cousins under 18).
Take time off work sleep for a week then reassess my life
Really depends on what we mean by millionaire. If it’s just a few million, make sure all my debts ,except my house loan were paid off. Buy my FIL a home whenever he wanted. Set up the rest in retirement accounts and go about life until retirement.
If it’s a lot of millions, well I’d do all of the above, excel after accounts were set up, money was given to those we wanted to take care of and we were sure we wouldn’t need to work anymore, I’d quit. We would do some renovation work on our home. I’d start volunteering more at the places I like to be involved with and id try to find more ways to help my community. And yes, I’d travel more too. But I don’t want a mansion or even a big house, I don’t want a fancy car. I like my simple life, I just want to add more travel to it
Cancel my phone plan and get missing! Everyone comes around when they hear that kind of news.
Get the surgeries that I desperately need immediately
I will continue to sleep to see how I spend my money.
Pay off my debt 😭
And then go make me passive income
Shrooms
I’ve read that a lot of lottery winners end up losing everything a few years in, so after a not too extravagant trip to Italy, I’d hire a financial planner to help me open a cozy restaurant, and figure out the best way to share with friends and family and local animal shelters and libraries. I wouldn’t want to change my lifestyle too much, because I like simple things, and I really like the idea of a secure future with less anxiety about money.
If it were one million after taxes, I’d take a year off and live inexpensively but comfortably to rejuvenate while planning how to make the most of the rest of the million.
It takes $5 million to retire comfortably now in the US assuming you live from 65-100.
So while I’d need to still work, it would definitely speed up my early retirement plans.
My dream home in my city just went up for sale. 1.4 million. I’m payin cash.
Ask r/finance what to do.
If dollars I’d buy a new condo. If my local currency id upgrade the farm.
First fruits.
Then pay my house off and my husband’s student loan.
Invest and give❤️
Pay off all of my debt
Pay off my mortgage and open a rescue animal sanctuary that has facilities so the local kids, elderly and other groups have somewhere to socialise out and get to spend time with the animals. Id also host events just because its fun.
Buy a nice house. Not a fancy one, just one I’d want now but not have to stress about buying. Then I’d take my kids to travel the world over the summer. I’d then put them in the next private school money can buy. I’d hire a nanny but definitely not full time. More so just to have a second set of hands for logistics when one child has to be in a different place at the same time as the other. I would absolutely hire a housekeeper because I am not a naturally tidy person so it takes a long time to get through my chores. I think I’d really like to just make tweaks that I can’t afford to make now and my life would be pretty fucking amazing
Anonymous? Do you get to go back to being yourself? My answer is always the same for these types of questions. I would consult a financial advisor. Aren’t I boring!
Get health insurance and go to the doctor.
Become an anonymous thousandaire, anonymously.
Pay off debt.
Pay my debts and then help out family
Donate 10% to charity, pay off my husband’s student loans, pay off my parent’s house, pay someone else to finish the renovations on our small house (currently taking forever because we are DIY-ing it), hire a cleaning service to do a deep clean once per month, and figure out how to create and market my million-dollar-idea that I’m too broke to actually get up off the ground right now.
Millionaire as in only one million, hundreds of millions? Large difference. One million would barely cover a starter home in Canada. I may have $200-400K left over depending on how dilapidated of a home I go with. Hundreds of millions would last me longer with even some for charity.
1 million in my local currency?
I would first of all continue to remain anonymous!
Secondly, put a down payment on a house.
Cry with relief
A million doesn’t even get me a home here, so maybe I’d go on a longer trip.
Um – be happy? I don’t understand the question or the anonymous part.
I have nothing to pay off or any debt and I do not crave any sucsess or material wealth, so I would buy a flat/appartement with a vegetable garden if possible and provide for a few people in need housing and a bit of personal care. I have a diploma in craftsmanship and many skilled friends, so renovations would be no problem and my parents where farmers, so the garden would be just awesome. I would love to cook sometimes for a lot of people and I went myself through a lot (hit rock bottom due to undiagnosed health issues and became homeless) so could give some emotional support and an open ear to listen to. I don’t want children, so I have time to care others. But that’s just a nice phantasy 🙂
Pay off mortgages
See if there’s anything left
Go canoeing and never look back.
Not tell anyone
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Stay anonymous.
Wonder where the rest of my money went.
How many millions are we talking? $1 million in our current VHCOL area isn’t enough to retire on. $5 million, we could retire immediately and move somewhere cheap and live a life of luxury and travel.
I have nearly a million saved up for retirement. I’m not sure it will be enough. It’s not that impressive of a number anymore.
Millionaire in 1970, when a house cost $30,000 was impressive.
I’d sell my condo and buy/furnish a house. If I’m smart about it, I can use the rest to set up future tax payments.
Go to grad school
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Divorce my husband
If it was “only” a million USD I’d buy a modest house for cash and a new car. That would wipe the funds out pretty much. I’d invest the rest of there was any.
If it was “fuck you money” I’d hire someone to manage it, buy a house, a car, and open a charitable foundation in my area to work to provide more services to our unhoused population. And I’d travel some.
Buy an island, adopt cats and dogs.
1 million? I’d stick it immediately into a high-yield savings account (or whatever an advisor says is best) and continue as normal, except that the people I love might notice I pick up the tab a whole lot, and that they’d mysteriously have windfalls happen if they were in trouble.
Several million? Figure out the most effective ways to increase the quality of life for people marginalized and/or in poverty, then grant, make foundations, and give as much as possible.
Buy a little backbone and financial security. I’d tell no one . Not one person .
I wouldn’t say a thing. You might notice little hints some extra peace in my eyes, quiet generosity, maybe a few coincidences that help the people I love. But I’d never make it obvious. I’d move in silence, be smart about it, and take care of my family first and foremost. They’d feel the love long before they knew the reason.
Save the dogs
The first thing I would do is stay anonymous
I’d buy a house near the beach (not necessarily beachfront, but within a short walk/drive to the beach) and I’d make sure I have some kind of income (whether it’s a full-time job or some kind of passive income) to keep up with property taxes, utility bills, groceries, etc.
[removed]
Pay off all my debts, buy a house with some land and then save the rest while adding to it
Depends on the specific amount and how it is received, but generally plans for unanticipated wealth for me are:
Buy all yves rocher products
Type my resignation letter.
Quit my job, pay off debts, take a month or two vacation, then figure out the new plan without financial obligations looming over my every ability and decision
Quit my job, move and buy a home away from everyone.
It would be enough for me to take a step back from my stressful job and do something more personally-fulfilling, explore more hobbies, etc.
Travelling the world asap. But before that, buying a house.
Tell noone. Continue working, but start buying things I need. Make a donation or 2 to some good charities. Save the rest
I wouldn’t quit for sure lol. I’d max out my retirement accounts each year, pay off my car, buy a house cash (all the ones around me that I like are about 600k for like a 4bd house). Go on vacation somewhere at a 5 star all inclusive resort. Wouldn’t tell anyone. Set up future kids college funds
# 1. Disclose to no one. #2. Pay off remaining balance of home mortgage. #3. Renovate the kitchen
#4. Leave the rest in the bank or add to IRA , Bonds
Put some aside, buy a cottage in England in a charming town and spend spring and summer there.
Give half of it to my community, invest a quarter and spend the rest on myself and my polycule.
I’ll buy a flat to chill alone and will invest remaining money in startup
I’d pay off all debt for my family and get us a house.
Don’t tell anyone. Put in Schwab stock account. Make sure to get any correspondence email only. Invest in SCHD and VOO. Have I great retirement.
Leave the country and only tell my kids
Not too much different. I’m out of debt and own a house I like in an area I like. I don’t like to travel. I’d try to keep it a secret from other people, though.
Buy a full suit of armor immediately, after that idrk
I’d be anonymous.
I would get land and build some houses for my family. If I’m just thinking of myself, I’d either move to a pot legal state or stock up soooo much. I’d have it all. I’d be like one of those loonies living on a pot farm like a different species
Not post on fucking reddit about it lmao
Stay at my job, if only because I want to stay as anonymous as possible.
Whatever needs to be done at the parents’ house
Get my own place.
Travel as much as possible
Get a personal trainer , bc apparently I need the accountability.
Hair treatment or whatever is to do with my thin hair
Pay for language classes
Make a will
.
.
.
Invest in creating a business that somehow uplifts and improves my community.
Buy my parents a house and then throw the rest into investment and/or my high yield savings.
I mean I’d be pretty mad if I was suddenly anonymous. Forget the money lol.
1 million USD? I could do something with that. Easily.
Sushi for dinner! Then figure out the rest after talking with a financial planner.