Hypothetical: you get rich. What next?

[JD10367]

I voted Option 10 ("other") because, actually, I'd probably do Options 2 through 7.

Option 2. Start a business venture that you think is promising and interesting. I would, but I'd also make sure it's something I don't have to be there to run.

Option 3. Get actively involved in political issues as a funder or activist. Yes.

Option 4. Get involved in one or more charities, spending time and money to address a social issue. Similar to Option 3, so yes.

Option 5. Pursue a hobby career to make money/have success, like music or writing. Yes. But I wouldn't care if it made money.

Option 6. Pursue a non-moneymaking hobby avidly, like games or Bigfoot research or bodybuilding. Pretty much Option 5 if it's not profitable, LOL.

Option 7. Just putter around and don't do anything overly productive - watch TV, play games, travel, etc. I would do an awful lot of this at first, but eventually I'd get tired of it and do more of the earlier options.

One thing I don't understand is the stories of people who hit Powerball and go broke in a couple of years. What the ****. Idiots. They buy Bentleys for their buddies and blow it on hookers and cocaine. How many houses do you need? I'd have one in northern New England (NH/ME/VT area) and that's it. I'd be doing so much traveling, I wouldn't need another house. Why own multiple houses, then only visit them one week a year? Just stay at the best hotel when you go somewhere.

Same goes for cars. Do you really need a Jay Leno-sized garage? Do you really need a half-million-dollar Italian sportscar? I'd have three cars: a rough-weather car (Jeep or equivalent); a sportscar/convertible for great-weather days; and a plain old four-door sedan for everyday use. That's it.

I'd spend the first year taking a lot of cruises and land-tours, seeing parts of the world I never thought I'd see (e.g. New Zealand, Japan, African safari, Patagonia, all of Europe). After that, I might spend another year taking in all the sites in the U.S. and Canada in a nice giant RV towing a little Smartcar for tooling around the local areas I park in. But after a couple of years of that, I'd probably have two businesses: one that I enjoy simply for my sake (e.g. used bookstore), and one that tries to actually make a difference in the world (e.g. vet clinic that spays/neuters without making much of a profit).

[KC Jones]

Ditto what JD10367 put in #77.

If it wasn't enough to retire on now, like lets say just 1-2 million, then I'd keep working and make plans for retiring early to pursue 2-7.

[boogblaster]

Well the party and hookers and drugs Ive already done .. so I went with #7 travel hunt and fish prolly ...

[DaneMcCloud]

None of the above.

While $1.2 million per year would provide a nice lifestyle, it's not the type of lifestyle that would leave a legacy.

I'd continue to do what I do (which I absolutely love, anyway) and save the money for a few years. I'd probably take advantage of a few smaller real estate deals in this down economy and flip them in 5 years, probably quadrupling my money (at least in Los Angeles).

After accumulating at least $11 million in net worth, I'd look to shopping centers as real estate investments as well as other property investments. In ten years, I'd expect to have at least $100 million in net worth, and would continue to invest in real estate deals until I'm gone, leaving a trust (and fortune) to my family.

Along the way, I'd invest in low-budget scripts with potential. The worst that could happen is that I could make my initial investment back. The best would be making 100x or more that investment (see "Paranormal Activity", " the "Saw" franchise "Napoleon Dynamite" or even "Macon County Line").

I would definitely have a lot of fun, especially after the first 10 years "grace" period.

[Coach]

Option 1. Bills/loans/mortage paid off first and defer the majority into a retirement savings or a cd account to see it grow and to pay my kids college.

No reason to stop working just becuase you have all that cash.
Posted via Mobile Device

[Hammock Parties]

How much fun would it be to just fill a backpack and a duffel bag with clothes and a few toiletries, maybe a laptop, and just go trekking across the world?

No plans, just going wherever your fancy carries you. Treat the airlines like buses. Awesome.

[DaneMcCloud]

Originally Posted by GoChiefs

How much fun would it be to just fill a backpack and a duffel bag with clothes and a few toiletries, maybe a laptop, and just go trekking across the world?

No plans, just going wherever your fancy carries you. Treat the airlines like buses. Awesome.

What's stopping you?

[RNR]

Originally Posted by DaneMcCloud

What's stopping you?

Money I would guess. It would take some bank to take on a venture like that. At least at my age

[cdcox]

I would sign a 5 year contract in which I would pay Clark Hunt $900K per year in order to allow me to serve as GM for the Chiefs. I would then assemble a brain trust of Planet members that would serve as my advisory council as together we led the Chiefs to a Super Bowl.

[Hammock Parties]

Originally Posted by cdcox

I would sign a 5 year contract in which I would pay Clark Hunt $900K per year in order to allow me to serve as GM for the Chiefs. I would then assemble a brain trust of Planet members that would serve as my advisory council as together we led the Chiefs to a Super Bowl.

900k wouldn't be enough money for Clark to stand by and watch you destroy the franchise.

[cdcox]

Clark would be $5M per year to the good. He couldn't pass that up.

[tmax63]

After taking care of all the close family and others near and dear to me then I'd have some fun. Would keep the job because you don't want too much free time but it would nice to know that if somebody pissed you off you could tell them to get stuffed and walk. I would start buying land. See how big an area I could mark "private property-stay the fu#k out"