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Would $1,000,000 in cash solve all of your life's problems right now?

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Would $1,000,000 in cash solve all of your life's problems right now?

Old 12-03-2019, 06:49 AM
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Default Would $1,000,000 in cash solve all of your life's problems right now?

If you had a $1 MM in cash on your dinning room table right now would it solve all of your life's problems? What would you do with it and how would you get around any issues that would arise from the cash? Any insight, ideas or strategies that would help your successful use of the money?




Old 12-03-2019, 06:50 AM
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Yes. I would day off everything which is a huge stress reducer.
Old 12-03-2019, 06:52 AM
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No it would probably create new ones
Old 12-03-2019, 06:52 AM
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No but it’d buy me a Hatteras, which would solve most of them.
Old 12-03-2019, 06:54 AM
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No.
I could laugh at the problems and do more things I enjoy til I croaked.
Old 12-03-2019, 06:54 AM
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Nope. But I would gladly take it to the bank.
Old 12-03-2019, 06:55 AM
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For the average Joe, would probably create a lot more problems....
Old 12-03-2019, 06:56 AM
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Yes
Would become debt free and would think hard about a career change. Would Help create a better foundation for my kids.

Last edited by Rferrell; 12-03-2019 at 06:59 AM. Reason: Adding more
Old 12-03-2019, 06:57 AM
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No, there are problems that money just can't solve.
It would help reduce stress as all my bills would be paid off, or capable of being easily paid if income was reduced.
Old 12-03-2019, 06:58 AM
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I don't really have any problems, so no.
Old 12-03-2019, 06:59 AM
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Absolutely. Instantly retire, fish, golf and clip coupons.
Old 12-03-2019, 07:03 AM
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Is it taxable?


Either way, it would create more headaches for me. I would likely leverage it in my business to grow it after paying off the rest of my debt which is now around 100-125k with the house.

If my wife had a say, we would sell the current house and put the equity and some of the cash into a new house on a piece of land that we own and want to build on.

It isn’t enough for my to quit, thats for sure.
Old 12-03-2019, 07:06 AM
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Nah but I’d take it
Old 12-03-2019, 07:07 AM
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It would make me debt free and I would be able to work a few more years to fund my retirement, however wife is having some hip/back issues and money wont prevent me from hearing all about that. . . .
Old 12-03-2019, 07:14 AM
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It is cash on the table that just appeared. Not taxable or reportable.

If my wife didnt know about it, I think it could solve just about all our financial problems easily. It would be a long game. I would store it in a few small fireproof safes randomly hidden under the house, in the attic, shed...... places my wife and kids dont go.

I would max out both retirements and investments from our main employment. I would calculate out how much we can pay toward the mortgage and 529s at max without drawing red flags. Improvements to the house, no more cutting the grass, bottom painting, new used outboard engines, RV, better vacations, all paid in cash. Each week $500 cash used for groceries, fuel, clothing, dinners. The main job would pay for everything on paper and long term planning while the cash would be used for every day daily life.

I dont see this as causing problems but more instead as a fun game to win.
Old 12-03-2019, 07:16 AM
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Financially speaking, absolutely. We have under 100K in total debt (only mortgage). 800K would easily pick up 5-6 solid rentals, or even more not quite so nice. Could easily live off the proceeds of that with $ to spare (reinvest into more) for the foreseeable future.

Old 12-03-2019, 07:21 AM
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Think of all the Hookers & Blow that could buy!

Save a little for Penicillin & Rehab!
Old 12-03-2019, 07:22 AM
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Solve All? No. But make things easier...esp as a nice boost to a currently inadequate retirement fund to make me relax more...."yes".
Old 12-03-2019, 07:22 AM
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Old 12-03-2019, 07:23 AM
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Yes.

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