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What's the "smartest" way to invest one million dollars?

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beerbelly

Banned
What is the smartest way to invest a million dollars given today's economy?


If you decide to buy a home (let's say it's $500,000), is it better to pay it off all at once or mortgage it over the years?

Would buying a large sum of gold be wise? How about opening a Euro account and purchasing (i.e. 100,000 Euros)?

I'm just curious to know of the best (and safest) options to invest, that does not include the stock market.
 

ToxicAdam

Member
A CD that kicks back 6-7 percent. In 10 years, your money doubles.



From that point forward, you could retire and live off of the 120,000 dollars per year that your egg generates.
 
Honestly, if you're planning on acting on any advice you get from a random internet message board, the one least likely to disappoint is going to be the office space plan.

Though I, for one, advise you to let me handle that million dollars for you. I can't promise you a good return on your investment, but I can promise that I'll make up a more amusing story than "I need your help transferring my Nigerian Prince monies to a safe account".

My story may or may not involve my own enjoyment of two chicks at the same time.
 

AMUSIX

Member
beerbelly said:
What is the smartest way to invest a million dollars given today's economy?


If you decide to buy a home (let's say it's $500,000), is it better to pay it off all at once or mortgage it over the years?
Pay it off all at once, especially in the weak seller's market that is happening now.

Would buying a large sum of gold be wise? How about opening a Euro account and purchasing (i.e. 100,000 Euros)?

I'm just curious to know of the best (and safest) options to invest, that does not include the stock market.
There are safe ways to use the stock market, but real estate in the right market is always good. The 'right market' means an eternally desireable one (water, weather, and wealth). Careful with new housing tracts, land is more important than new fixtures and granite counters.


edit: and I agree with ToxicAdam...if you can, set it aside building interest, and forget about it
 

Macam

Banned
Judging by your initial post, you're less concerned with "smart" and more with "safe". In which case, ToxicAdam's post might be right up your alley.
 

TAJ

Darkness cannot drive out darkness; only light can do that. Hate cannot drive out hate; only love can do that.
First, get some currency that isn't in a death spiral.
 

Core407

Banned
Put it in the bank and live off the interest (roughly $50k a year, depending on the interest rate)

Edit: Or just put it in a CD and live your life normally until you get your return and then use that money as your income and repeat.
 

beerbelly

Banned
Yea I guess I'm thinking more in the lines of having a "safe" investment instead of "smart".

I think what Toxic Adam described sounds like the option to take. But I don't want to be putting "all of my eggs in one basket". I'm thinking a good portion in Euros, a bit of gold, some government bonds, certificate of deposit (but I'm not entirely familiar with this - is it available in Canada?), etc. Buying a home would probably be one of the things I do first, so scratch off $500,000...
 

TAJ

Darkness cannot drive out darkness; only light can do that. Hate cannot drive out hate; only love can do that.
beerbelly said:
I think what Toxic Adam described sounds like the option to take.

If you started doing what he suggested when the Euro came out, you'd have less purchasing power now than when you started. (assuming 6.5% rate) Remember, you can bank other currencies, too.
 
perryfarrell said:
Unless you hit 0 or 00, which has a chance of happening of about 2/38, which equals 1/19, which equals about 5%.

Or play in europe, where the 00 doesnt exist and you only lose half on the 0.
 

WrikaWrek

Banned
Austin_Powers_Mike_Myers_as_Dr_Evil.jpg
 

Zyzyxxz

Member
a combination of CD accounts, mutual funds, safe stock market picks, and bonds would be how I would do it. It may sound like a bitch to set up but once its done you just keep an eye open on the stock market and for the rest reel in the interest.
 

Javaman

Member
beerbelly said:
What is the smartest way to invest a million dollars given today's economy?


If you decide to buy a home (let's say it's $500,000), is it better to pay it off all at once or mortgage it over the years?

Would buying a large sum of gold be wise? How about opening a Euro account and purchasing (i.e. 100,000 Euros)?

I'm just curious to know of the best (and safest) options to invest, that does not include the stock market.

Unless there are major tax differences between the US and Canada regarding home taxes, there's really no good reason not to pay it off completely. When people say they would like to keep it in a mortgage for the tax deduction, they are effectively giving the bank 4x (varies based on their tax bracket) the money then they would have to give the government if they didn't have a mortgage and kept the interest payment.

As far as investments, keep in mind that while not taking any risk makes it less likely for you to lose money, you'll still be losing out to inflation if you don't make at least 3% or so.
 

oneHeero

Member
Donate 100 bucks to every gaf poster in this thread who tried to help you.

I mean seriously, your talking about a million dollars. What's a couple thousand spent on gaffers? You'd get a tag that said "Gaf's Savior" Or "Pays Gaf's bills" or something fucken cool.

Plus you'd be doing so many good deeds XD


Also, buy 2 girls is a great choice, you only live once. And I wouldnt really go with gold either.
 

beerbelly

Banned
Thanks for all the replies guys.

It was fun visiting GAF the past few years. It has become too hostile in the past few months though so I'm gone for good.

Good luck everyone!!!

P.S. I'm a millionaire :D
 

TAJ

Darkness cannot drive out darkness; only light can do that. Hate cannot drive out hate; only love can do that.
oneHeero said:
Also, buy 2 girls is a great choice,

No one suggested buying any girls. (unless they weren't paying attention to the movie) It's just easier for someone with a million dollars to make it happen because "chicks dig dudes with money".
Also, the OP needs a permaban so he keeps his promise. Just sayin'. Oh, and because he's a huge douche.
 

bjork

Member
beerbelly said:
Thanks for all the replies guys.

It was fun visiting GAF the past few years. It has become too hostile in the past few months though so I'm gone for good.

Good luck everyone!!!

P.S. I'm a millionaire :D

Yeah right. You should be fined $1 million if you post after this.
 

TAJ

Darkness cannot drive out darkness; only light can do that. Hate cannot drive out hate; only love can do that.
Cedeo said:
Serious answer is gold, it's the only thing thats going to retain its value.

Nope. Gold's value plummeted throughout the '80s and '90s.
 
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