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HOT TOPIC If you had $10m in the bank what would you do every day?

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sparechange

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Post on Instagram how awesome my life is in front of a Lamborghini selling $10k seminars on mindset coaching :cool:
 

Kak

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That's honestly not a lot of money, you could easily go through all that. I'd still live below my means but find some way to put some of that 10 million to work.
If I had 10m dollars in the bank. I would put it to work. Nothing to see here... back to normal life just 10 million dollars richer.
 
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Dark Water

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:rofl: :rofl:

Didn't know yachts can be that expensive, a bit over the top. 40 mill is some peasant stuff :hilarious:

Jim Pattision has a crazy yacht in the downtown Vancouver area, heard it costs about 6 figures to fill up just for fuel......yikes





This one's pretty nice, only 4 million dollars!
I checked out their website, 290 million euro yacht.

At the bottom, I saw that their website was maintained by Yacht Marketing | Superyacht Marketing | Relevance Yacht

Interesting - a web design and SEO guy/company/agency that only does websites for yacht companies. Imagine the market for that, as opposed to generic joe schmoe web designer out of xyz city with no niche.
 

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That's honestly not a lot of money, you could easily go through all that. I'd still live below my means but find some way to put some of that 10 million to work.
 

WJK

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I've seen this question asked in lots of places when someone wants to know what their "purpose" is or if they're looking for an "enlightenment".

So you've just checked your bank balance and there's $10m in the bank. You've bought the nice cars, travelled a little and have all the clothes you need.

How are you going to spend each day going forward?

The answer for me would be more travel. I would like to still earn money passively (online), but I want to see as many places as this world has to offer and experience different cultures.
I've read this whole thread and notice that people are talking about what they would buy or rent. That's not the point here. There's a deeper question. When you have everything you need and want... and you've been everywhere you want to go -- how do you find purpose and meaning? How do you make it worth getting up in the morning? Being successful creates whole new issues. That's why many people lay down and die after they retire. For them, their lives are over when they leave their career and businesses. Or some people throw their money away and must start at ground 0 again. Many find that they have thrown away all of their meaningful relationships while they pursued their quest to the top. And there they stand alone and exposed -- with nowhere else to go.

Along the way on your journey, you might want to think about creating a landing pad for yourself when you finally arrive at what you THINK is your ultimate goal.
 

Wil22

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Surprisingly I wouldn’t change much. I would still eat healthy, exercise daily, build my online business and enhance my personal relationships (my current goals). Changes would be in degrees; perhaps a warm climate to live in, a slightly large house and turn in my 5 year old car with 100k miles for a newer one.
A more thought-provoking exercise is what to do if you receive $100,000 this month? Not enough to retire but enough to create/build something of value. Ideas?
 

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Funding entrepreneurs in Africa.

So much potential there
I am inclined to agree. I think Africa could be a new frontier of opportunity.
 

Paul David

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I've seen this question asked in lots of places when someone wants to know what their "purpose" is or if they're looking for an "enlightenment".

So you've just checked your bank balance and there's $10m in the bank. You've bought the nice cars, travelled a little and have all the clothes you need.

How are you going to spend each day going forward?

The answer for me would be more travel. I would like to still earn money passively (online), but I want to see as many places as this world has to offer and experience different cultures.
 

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srodrigo

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Buy a house for my parents and another one for my sister.

Open shelters where dogs and cats don't get put to sleep and they can wait for an adoption for as long as needed.

Work on random projects without worrying about having to worry about making money from them.
 

sparechange

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sparechange

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Yeah ... that gives you an idea as to how much it costs to keep one of these things going. Kinda nuts.
Maybe one day we could all throw a fastlane party on a boat? :rofl:
 

juresesko

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I was thinking one of these $40m yachts.

But back down to earth ... a week long trip on one of the ones you list would be really fun
Hmm I looked around for one of those...


They are about 1m a week :wideyed:
There are only two times when you are the happiest with your yacht.

The day you buy it and the day you sell it.

I think the best way to enjoy such luxury is to connect with other people and let everyone throw some money in and rent it.
 

Wil22

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I googled them a bit ... apparently its a six figure expense just to put fuel in these things. They say to budget 10% of the initial purchase price as your annual operational cost. Yikes.
Growing up on the water we used to call boat investments, a Big hole in the water you keep dumping money into. I saw a few boat owners too broke to pay for fuel. They’d just sit there and go up and down with the tide. Rent it instead.
 
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Paul David

Paul David

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Surprisingly I wouldn’t change much. I would still eat healthy, exercise daily, build my online business and enhance my personal relationships (my current goals). Changes would be in degrees; perhaps a warm climate to live in, a slightly large house and turn in my 5 year old car with 100k miles for a newer one.
A more thought-provoking exercise is what to do if you receive $100,000 this month? Not enough to retire but enough to create/build something of value. Ideas?
I think Real Estate might be the best option for smaller amounts. You can obviously buy a lot with $10m too!
 

juresesko

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All on black!

Just kidding

Invest in bonds with low risk probably.
With 5% interest rates you monthly income would be around $42k for doing no work at all.
Or invest one half for 20k per month and start a new business with other 5 million
 

juresesko

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Yeah, I'm with @juresesko on this one. Some bonds and just any amount of interest I need to live off on, then use the rest to invest in my own business.

If there's any left over, I'd probably also put it up as funding for startups that show promise.
YESS, there is also a whole chapter about that topic in Unscripted.
 

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Jon L

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:rofl: :rofl:

Didn't know yachts can be that expensive, a bit over the top. 40 mill is some peasant stuff :hilarious:
I googled them a bit ... apparently its a six figure expense just to put fuel in these things. They say to budget 10% of the initial purchase price as your annual operational cost. Yikes.
 

sparechange

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I googled them a bit ... apparently its a six figure expense just to put fuel in these things. They say to budget 10% of the initial purchase price as your annual operational cost. Yikes.
Renting is probably a better option, how many times do people even go out on their boats?
 

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