i just won $400,000, what should i spend it on?

Question

i just won $400,000, what should i spend it on?

Answer 1

ME, ME, AND MORE ME!!!!!!!!!!!!!!!!!!!!!!!

Answer 2

Hire a reputable accountant and independant security advisor first.

If you're employed, keep your job.

Don't spend--- invest. By today's standards, even a million dollars isn't worth much.

The very basics: living. Purchase a home, moderately priced which entails little maintenance, ie, no major expenditures like liens, co-op regulations, low property taxes, etc. Do the research. Go through a local bank vs a mega bank, you'll get better offers and quicker assistance. You can always upgrade later.

Invest a residual portion in other properties, which may get tricky. This is for liquidable assets, immediate tangible income. Money-in-hand, rental properties. Besides homes or apartment units, think restaurant or fast-food locations, something that brings in money on a regular basis which increases cash flow with low outlay. You may want to seek a partner investor here as most proven franchises are diversified and total investment costs are astronomical.

Start a portfolio. Invest in retirement with secured earnings. This is monies you won't touch in years that will gain after a number of years. Make sure, if anything should happen, that there's a beneficiary, otherwise the government will confiscate.

After all this, if you have monies left to invest, purchase a small piece of art by a famed artist, if you can. Pay the cost, maintenance, and insurance. Going to galleries or showings opens you up to a different economical bracket that puts you directly in touch with others that have expendable capital; the big spenders.

Your investment will enable you to enrich your life to access theirs. Recommendations are galleries in the major cities or suburbs, New York, San Francisco, Los Angeles, Santa Fe, etc. More research. With confidence, learn their mannerisms, hobbies (golf's a must), dress, catch phrases, etc. It's networking, plain and simple.



Of course, pay your debts first. The amount left over is the money you have to work with.



Don't be seduced by advertisements on the latest 'thing' you must have. Think concrete and towards the future.

Answer 3

First of all Charity

Then, family & friends

Then: Keep half the money in a bank

Then: clothes, cars, mobiles, computers, shoes, going out to eat everysingle day

Then: Go for a holiday to Hawaii or The Bahamas or Egypt with all your friends and family

Finally: open some business or get married

Answer 4

Save some for yourself in case of an emergency or if you had a bad day and give the rest to charities. Do the right thing and although it might make you feel bad for giving up money, you'll feel better because you might be saving a life. Don't forget the animals!

Answer 5

I don't think you should spend it, at least not all or most of it. If you have any debts or things you really want you can buy or pay back those and put the rest in the bank or stocks, but the bank is safer I think, and you get a definite amount of interest.

Answer 6

You said you won it. So I think the first thing you should do is give some to charity to be thankful. I suggest that you start your own business, or improve yours if you already have one. You could also buy yourelf a house. Good luck! I hope you spend it wisely. Please: no drugs, no alcohol abuse, no gambling, and hopefully no women that are after your money.

Answer 7

After paying the taxes on it there won't be that much left if you're unsure what to do with it put it away before spending it. You hear lots about buyers remorse but very little about savers remorse.

Answer 8

If I were you I'd put it down on a house or pay your house off! Congrats on winning! Buy your children or wife or whoever something nice just to show you care about them....Invest some in the stock market....Loads of things you could do! CONGRATS again!

Answer 9

try to think of something that you owe..like bills or if someone lended u some money. u have to think of the people who care abotu u and that have helped u out alot that u owe..but also u should save some..just incase something bad heappends..like getting in a car accedent..of ur hosue burns down..something that u dotn expect to happen..then u can spend it on whatever u feel is nessacary to haeve..good luck and congrats!

Answer 10

Clear your debts, stick some in the bank then have fun with the rest!

Answer 11

Your education,a house and mabey start a biusness with it so you'll have a solid ground and still be making money

Answer 12

One of my paintings perhaps ! can't stop smiling. Have Fun and spend some with someone (or many) you love. xx

Answer 13

well. save some for yourself and donate part of it to charitable organisation.

Answer 14

Girls, Adult 1's of course

Answer 15

the poor

Answer 16

Me!