If I had a million dollars…
I would put it all in CDs/TIPS and coupon clip. Just kiddin’
I’d purchase a 4-unit apartment building with the minimum amount down, and live in one. I think four to eight units would be reasonable, and I can think of the perfect location.
I’d still drive my 2002 Alero with 100k+ miles, since it just keeps ticking and gaining value thanks to a used car shortage.
I would invest $50,000 or so to speed up a few projects I’m working on. School would be put on hold. Six hours a semester max, just to avoid playing with family goodwill.
I’d go on a vacation for a week or two, only to find that I don’t really care to get away from home. I’d spend some cash on Amazon for a few books I have on my wish list, but have been too cheap to purchase.
I’d hire someone to do my shopping. I hate shopping.
I’d “splurge” on 1/200th of a share of a Karakorum thoroughbred because who doesn’t want to own a racehorse? Everytime I go to that site I have to resist the urge to buy in.
Achievement Unlocked: Accredited Investor
I’d enjoy my status as an accredited investor, having accumulated a net worth of more than $1 million. I would seek out a few startups for an angel investment, since once they put up a website, I can liquidate for big money on SharesPost. Thanks, dot com bubble.
I’d throw $200,000 into my InteractiveBrokers account to leverage it 5:1. I’d continue to seek out value investments, and frustrate myself with the lack of liquidity.
I’d start a $1,000 annual scholarship for students with no more than 2.5 GPAs who have 1800+ SAT scores, for revenge at top 20 B-schools that want 4.0 GPAs and paltry SAT scores.
For the sake of science I’d rent out a location in a local mall to see what kind of worthless junk I can sell to Christmas buyers. I’d test something new each month, something random I can source online. I’d contribute at least $25,000 to this cause.
I’d offer a convertible debt instrument to a local restaurant chain that I’ve wanted to own since they only had one location. If that doesn’t work, I’d look to buy exclusive franchising rights. I’ve never eaten there, but it’s going to be huge. I can feel it.
The end of my spree
Depending on how the above list plays out, I’d probably just hold onto the remainder in cash.
Hmm, a million bucks really isn’t that cool. Sure, I’d cut back on school and up the ante with my investments, but in reality, I’d be just as boring as I was before. I guess the main takeaway is that I’d try to turn it into more. 😉
What would you do with a million bucks?