Million Bucks
Bkworm and Leah have tagged me. They wants to know what I will do with one million dollars, American. Hmmm… Where shall I begin?
Can I have the one million after tax? Otherwise, the first 400,000 is going to Uncle Sugar as withholding tax. Gone before I can even hug those dollars. So I choose to have already sent another usurious sum to the feds and have a million left for my family. Rat B@st@rds.
If I have a million dollars I am going to quit working. The missus has to keep working. Sorry honey, but we need medical insurance. Then I shall invest the million. If I am lazy I can make 6% or $60,000 off an interest bearing instrument. If I want to spend a lot of time on investments I should be able to pull in 15% off the stock market. That is a bit risky. I am confident I can work around to pull in 10% a year with less risk.
So that means I can earn form $60,000 to $150,000 each year off the return from the invested million. The gahman is going to tax around 28% to 40% of the interest or capital gain depending on how I invest and what the tax laws are at the time. No matter what the return after taxes, it is more money than I am currently earning in my present job.
So I know some of you reading are thinking SA is just a jerk. He makes a million dollars, quits his job, and makes his missus work to keep medical insurance. But I know she would insist on this plan too. And SA will not be sitting on his arse counting the interest payments. No contraire’ my good readers. I shall write my fingers to the bone every day, trying to complete a story that someone is prepared to pay me for. And hopefully pay enough that I can pay for the medical insurance and the missus can relax in her easy chair and watch Korean soap operas all day.
Plus with these earnings I know I have the funds for a nice vacation in China and Southeast Asia too. See I can be frugal but still can have some fun. Despite the money.
You may have noticed I did not pay off my loans. My loan rates are quite low and as long as I can earn more than I payout, then I am not bothered. If my return cannot exceed 4% for some reason, then I will clean the family’s slate of all debt instruments.
July 25th, 2007 at 4:26 pm
Lets start a loan-sharking business and stay low of the taxman’s radar. LOL
SA: Sounds good. We going to use socks or tissure to look like muscles? You are up early too dude.
Blue Tax-Free Ribbons!
July 25th, 2007 at 7:01 pm
sounds like a damn good plan. too bad you can’t kiss the gahmen goodbye, no matter what they are always there!! have a great evening and stay dry!
SA: I think it would work.
The US gahmen will follow your dollars no matter where you earn them. Haiz…
Staying dry is so hard. But it is making for a pleasant summer temperature wise.
Red Dry Ribbons!!!
July 25th, 2007 at 8:35 pm
I wanna million buckaroos too.
Then I’ll sit on my bum and watch soap operas and drama series and reality TV all day long.
SA: Watch Battlestar Galactica, and Firefly too!
A Million White Ribbons!!!
July 25th, 2007 at 9:21 pm
investing is a good choice..but i duno anything about it!! hehehe
so i’ll quit my job..get a house/car (not too expensive), stock up all the DVD, and become a couch potatoe! =P
SA: I always make the wrong choices for investing. That is why I use a financial planner. In fact, if I won the lotto, I would call her before I called the lotto office.
Get a couch that has enough room for me to plop when I visit!
July 25th, 2007 at 10:08 pm
Well if you are going to make the missus work, at least she’ll be able to indulge in something she enjoys doing instead of having to work for money no?
SA: Oh on. She has to keep the same job, so we don’t lose income. haha That is why it is important that I write something that can produce sufficient income to replace hers so she can quit later. She wants to retire at 55 and I would like to enable her to reach that goal. Sooner if possible.
July 25th, 2007 at 10:56 pm
haha..your missus really loves korea soap operas…
i remember you mentioned this before..
SA: She bought a lot of these DVDs. Then she discovered that she can see them on YouTube. haha
July 25th, 2007 at 10:57 pm
Really good and realistic plan. Now if only I had a million pound…
SA: A million pounds! That sounds even better. With a million pounds the missus does not have to work.
July 26th, 2007 at 2:02 am
With a million bucks I would go out of my mind to find a million does to keep them all company.
SA: And then you would have a million Bambis!!!
July 26th, 2007 at 2:18 am
WHAT?!!! that really sound like a well calculated plan men!! you have been planning to get a million dollar eh?? hehe I would love to just sit at home and shake my leg…ahhhhthe bum life
SA: I cannot shake my leg if the missus is working.
I’m a CPA, so I am always calculating what to do with money. I just need money for my calculation.
July 26th, 2007 at 2:34 am
real life real story. a couple had just won AUD$20 million tattslotto. far out!! my hubby buys tatts every week without fail since we were back 6 years ago. what about us??!!!
SA: 20 million!!! Wow. Then my missus can stopping working too and I can buy a doctor. keke
Your next! I just know it.
July 26th, 2007 at 3:48 am
Sounds like good financial investment and planning. I would have done that too. In my case, hubby has to continue working.
He’s not used to a relaxing lifestyle. He enjoys meeting people and his work.
You would have enough to visit SE Asia every 2 years.
SA: Cool. So I need to make more money so I can go SE Asia every year.
It is good your hubby likes to work. Picks up the slack for lazy bums like me.
July 26th, 2007 at 5:35 am
best to have all money investment and multiply de’millions, hahaha!!!!
SA: Exactly. Why work when I can make the money work, ya?
July 26th, 2007 at 8:57 am
SA, when I read this entry, I keep thinking…now here’s my husband’s mental twin!
Good plan for the money….sad part is, most million dollars winner does not ask smartly. Most of them are back to where they were before millions, some even owe more money after 3 years or so.
SA: Thank you for the compliment. Such a nice comparison, as I know you have a great relationship with your hubby from reading your blog.
A lot of lotto winners do go broke. The old adage “easy come, easy go” is applicable here. Sad really. That is why we always need to plan to live within out means, though I am not a good example for this. I am a master of the impulse purchase.
July 26th, 2007 at 10:12 am
nice huh if dun have to work..
mmm.. that’s just a dream ?
mmmmmm again
SA: It’s a dream until I get the money.
July 26th, 2007 at 10:02 pm
thanks for doing the tag. your ’strategy’ is an accountant way of spending a million dollars, right down to the calculation of interest! LOL!! That’s something Papa Bkworm would come up with.
SA: I always feel like Papa Bkworm and I will get along pretty good when we meet.
July 29th, 2007 at 10:16 pm
million rupiah.. I have.. million bucks.. I don’t.
And yes, I would use it to pay off loan and bank them in to enjoy the meager interest too.
Btw, I guess it’s harder for you to get to a million than I do.. since your currency is bigger. haha.
SA: So maybe I should convert my money then.