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If you were to win a million dollars...

Discussion in 'Off Topic' started by Ct-csrt4, Dec 11, 2014.

  1. Ct-csrt4

    Ct-csrt4 New Member

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    Would you invest in a p85d? Pay it off in full or get a loan? Let say you have no established credit or any real equality in you name. With the rest of the money try to get into real estate?
     
  2. dhanson865

    dhanson865 Active Member

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    even with a free million to play with I'd get the S85D. I'll take the extra range in Normal mode vs the extra insane mode of the P85D.

    I'd refi my current house to a 15 year loan and replace both of the daily drivers in the house with Teslas (pay cash on those). I'd keep the rest as a reserve, no more than $100,000 in each account/institution. Diversify the investments if it is anything riskier than a CD.
     
  3. yobigd20

    yobigd20 Well-Known Member

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    Well a CAR is always a horrible investment. You can't even call it one. Real estate on the other hand...definitely a better investment. Buy some rental properties and retire.
     
  4. rtz

    rtz Member

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    #4 rtz, Dec 11, 2014
    Last edited: Dec 11, 2014
    I could retire on a million flat. I sure wouldn't spend any of it on a car.

    A million spent at the rate of $2,000 a month would take over 41 years to spend it all.

    A savings account with a 1% interest rate would pay out over $800 a month on the million according to online interest rate calculators.
     
  5. dhrivnak

    dhrivnak Active Member

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    Of course I would pay it off and also give at least 10% to the Church and/or charity to spread the good cheer around.
     
  6. Ct-csrt4

    Ct-csrt4 New Member

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    Being 21 is hard to not spend money on a car. I don't plan on retiring anytime soon. I've blown 30k before on a car. Paid only 12.5 on the car(book value 20k). Blew a motor the rest modifying it. Lost about 10-15k on it. A p85d is the ultimate reasonable car. No need to touch it. I could resell it to tesla in 32months when it's time to upgrade.
     
  7. David99

    David99 Active Member

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    Build my own freaking Supercharger!
     
  8. Krugerrand

    Krugerrand Active Member

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    First of all, it's not a million after taxes. :rolleyes:
     
  9. Ct-csrt4

    Ct-csrt4 New Member

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    Win was the wrong word to use. In my case a 50/50 shot straight from an insurance company.
     
  10. KenN

    KenN Member

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    It is in Canada! !
     
  11. Krugerrand

    Krugerrand Active Member

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    Is West Heaven in Canada?

    ...and it all depends if the million was in US dollars, CDN dollars, Euros, Rubles, Krugerrands...as to whether it's a million in Canada or not.:biggrin:
     
  12. KenN

    KenN Member

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    We pay a lot of taxes on a lot of things, but lottery winnings ain't one!
     
  13. rolosrevenge

    rolosrevenge Dr. EVS

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    Right behind you...
    I'd pay off my house, buy a P85D and invest the rest.
     
  14. Lump

    Lump Active Member

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  15. NigelM

    NigelM Recovering Member

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