So you've just won the lottery.

  • 51 results
  • 1
  • 2

This topic is locked from further discussion.

#51 Edited by bforrester420 (1711 posts) -

@Nibroc420 said:

@bforrester420 said:

You'll be hard-pressed to find a savings account paying 3% for a while. Hell, my mortgage is less than 3%. You're going to have to venture into riskier bonds (corporate, municipal, etc) or stocks to find a return greater than 3% right now.

Besides, if you put your money into any investment vehicle earning 3%, you're doing no better than keeping up with inflation anyway, and that doesn't even factor in the taxes you'll pay on your meager returns.

I've got a savings account with 3% interest... So either I got lucky, or you're just wrong.

I also love how 270k a year is "meager returns"

I've already stated that 3% is simply a base bark, I know i can get 3% yearly, and as others have said, 10% is possible if you know what you're doing.

Point is, it's possible to win 10mil, and simply live off the interest generated from such an amount.

I don't know where you found a savings account that returns 3%, so count yourself lucky in that regard.

The fact still remains that 3% annual return is only keeping up with inflation, so your purchasing power is going to erode over time.

#52 Edited by AmazonTreeBoa (16745 posts) -

I would buy some land in Wildernest, Colorado and have a home built for around $300,000-$500,000. Both me and my girl would get our medical marijuana license and set up a aeroponics system that gave us a harvest of 5 plants a month. I would grow lots of fruit trees and fruit bushes on my land. I would plant strawberries which return every year and spread. I would have grape vines and Kiwi vines and a yearly garden. I would raise chicken and a few other smaller farm animals for food. I would invest my money of course to keep the money flowing. I would buy a nice SUV to haul my nice boat, snowmobiles, 4-wheelers, etc. around. I would buy a car for when the SUV isn't needed. I would buy me and my girl each two motorcycles. Two cheap ones to learn on and two nice ones for once we have a year or two under our belt. We would travel a lot on our bikes. I think I would take up skydiving.

EDIT: Of course pay off any bills I currently owe.