What to do with $1 million

[Anonymous]

I would pay off the house. You'll still have plenty to invest after.

[Anonymous]

OP, you are crazy to even pose this question to a bunch of anonymous know-nothings, let alone to even consider their advice.

Take 0.2% of the million dollars - $2,000 - and go consult a financial adviser.

[Anonymous]

Anonymous wrote:

anyone afraid of a crash and then it's ... all gone?

Yes, I already panicked and sold everything earlier this year. No one gets the top and pigs get slaughtered.

Actually, pigs get fat, hogs get slaughtered

[Anonymous]

Anonymous wrote:

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Anonymous wrote:

What do you people invest in to get 4% return?

4% and it's completely state and federal tax free.

https://personal.vanguard.com/us/funds/snapshot?FundIntExt=INT&FundId=0043#tab=1

anyone afraid of a crash and then it's ... all gone?

Nope, because historical returns are always positive long term. That's why the stock market exists--to make the rich richer.

You don't have that time if you already retired.

Um, yeah you do. If you're going to die very soon anyway, then you can spend down. If you've got many years ahead of you, then you ride it out.

People that retire at 60 should count on at least 30 more years of life - to 90 - and invest accordingly. (Advisors usually suggest 95, to play it safe.)

[Anonymous]

I would put $100K in each kids college fund, pay $300K to the house mortgage and then save the rest in retirement and savings. And, buy a new car for me.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

What do you people invest in to get 4% return?

4% and it's completely state and federal tax free.

https://personal.vanguard.com/us/funds/snapshot?FundIntExt=INT&FundId=0043#tab=1

anyone afraid of a crash and then it's ... all gone?

Yes. Which is why I'd pay off the house and invest the rest.

[Anonymous]

Anonymous wrote:

Anonymous wrote:We paid our house off already, so with 1M, we'd retire. That's 40k annually at 4%, which is more than enough to happily live off for the rest of our lives.

What do you people invest in to get 4% return?

Combination of blue chip dividend paying stocks and REITs will get you there, or a fair amount of utility stock dividends.

[Anonymous]

Anonymous wrote:

Anonymous wrote:We paid our house off already, so with 1M, we'd retire. That's 40k annually at 4%, which is more than enough to happily live off for the rest of our lives.

Not for me. Sounds dreadful.

Look, I don't love my job; sometimes I downright loathe it. But there are a lot of things I DO like to do, and many of them cost money. SO I work so I can do the things I like to do. I have zero interest in retiring just so I can stop going to work, but not being able to do the things I like to do. If you are happy living that life, more power to you - and I'm even a little jealous. But living on less than $3350 per month, before taxes, won't let me do the things I love to. I could do it, and will if I have to, but I sure won't love it.

Good thing we've got different life views then, because we'd be thrilled with that amount.

[Anonymous]

Anonymous wrote:

Anonymous wrote:We paid our house off already, so with 1M, we'd retire. That's 40k annually at 4%, which is more than enough to happily live off for the rest of our lives.

Not for me. Sounds dreadful.

Look, I don't love my job; sometimes I downright loathe it. But there are a lot of things I DO like to do, and many of them cost money. SO I work so I can do the things I like to do. I have zero interest in retiring just so I can stop going to work, but not being able to do the things I like to do. If you are happy living that life, more power to you - and I'm even a little jealous. But living on less than $3350 per month, before taxes, won't let me do the things I love to. I could do it, and will if I have to, but I sure won't love it.

Yeah, I lived on 40k in my 20's and my family of five lived on that during my childhood. No way would I go back to that lifestyle voluntarily. I like spending money, almost as much as I like making money.