If you were to win a million dollars...

[Ct-csrt4]

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?

 

[dhanson865]

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?

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.

 

[yobigd20]

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.

 

[rtz]

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.

 

[dhrivnak]

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.

 

[Ct-csrt4]

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.

 

[David99]

Build my own freaking Supercharger!

 

[Krugerrand]

First of all, it's not a million after taxes.

 

[Ct-csrt4]

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

 

[KenN]

First of all, it's not a million after taxes.

It is in Canada! !

 

[Krugerrand]

It is in Canada! !

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:

 

[KenN]

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

 

[rolosrevenge]

I'd pay off my house, buy a P85D and invest the rest.

 

[Lump]

I would move to Maui & work part time for the four Seasons driving their Tesla Limos around the island. Four Seasons Resort Maui escorts guests in Tesla sedans - Pacific Business News

 

[NigelM]

Mod note: a couple of posts went to Religion-Quarantine