Interesting in a previous "2 million dollar" thread. I laid out an easy to follow plan, but seems at least two people couldn't do math.
How good are Cred Forums's math skills?
What is $350,000 + $150,000 + $400,000 + $100,000 then take that number subtract, from $2 Million. Take 10% of what's left over, add to $250k x 2 + $400k.
Is this an allocation of 2 million? Is it over or under?
1 million?
350+150=500
100+400=500
500+500=1M
2M - 1M = 1M
1M * 10% = 100k
100k + 250 =350
350+250 = 600
600+400 = 1M
I'm super not following what you are talking about though
Nah dickhead you were saying something about 2 million Canadian being equal to 3.6 million American and I called you out on your bullshit. You never explained where the number 3.6 million came from, remember?
Yeah, I have a life sorry I couldn't respond in time.
If you were following the conversion. You would know that in the US, most lottery winnings are taxed very heavily immediately.
-That is unless you set up a 501c Non Profit to actually claim the winnings.
So, if you received 2 million 'after taxes' in Canada, the 2 million after taxes in the US, would be closer to a "Winnings" of 3.5 million. In which I would set up a 501c.
Why can't poor people understand my logic?
Yes, you did my math right, so you would end up with 1m + 1m = 2m total.
I am not disappointed in your math skills.
It equals 3.6 million.
>So, if you received 2 million 'after taxes' in Canada, the 2 million after taxes in the US, would be closer to a "Winnings" of 3.5 million. In which I would set up a 501c.
Fuck off. You can't magically upconvert and somehow end up with more money. And I never even said it was lottery winnings. If you were following the conversation you would know that.
What I said was: "spending your 2 million on lottery tickets will result in you losing all your money".
I never fucking said: "you win 2 million from a lottery". The lottery part was what you guys invented to explain the sudden appearance of 2 million dollars.
You really need to work on your reading comprehension, user.
Then why explain about Canada not having taxes on lottery winnings?
Why don't you fuck off, I didn't convert shit. It's some moron trying to convert USD to CAD because he was too stupid to understand.
Yeah. That moron is you.
I never said shit about exchange rates or converting from one country to another.
Just fuck off, this is why poor people stay poor.
Okay fine. Let's pretend none of this ever happened, alright. Just forget everything I said. Let's start anew.
What would you do with a theoretical winning scratch ticket of 1.5 million USD?
Of course, you have to pay taxes on it first.
So I would have, what? 900 grand?
Buy a Camaro and put the rest into savings lmao
>1.5 million USD
Buy a piece of land, live on it inside a trailer like a piece of trash and put the rest of the money into my pickup truck, gold and silver pieces and gun collection
Alright, I'll try to simplify.
About 30 percent would go into the high interest baring account. That would be the "untouched" retirement and passive income.
Since 1.5 million isn't a ton of money, I'd get a simple upscale house, depending on which location in america a nice house can be anywhere from 75,000 to 250,000. I wouldn't buy in a market like San Fran. Boston or Toronto. I'd buy at least one or two low end multi-family dwellings. These can run from 100-200k for a turn key, but you can get them for as low as 50-60k if you want to put work, labor, materials in.
My focus is passive income, to make life in general easier no matter what I did.
As for getting a mortgage, with that much collateral you'd probably qualify for a 3% loan.
The reason you'd get a loan is to offset tax expenses. Since a mortgage payment is tax deductible. And the money you pay monthly is lower than what you'd make in a high interest account. Plus, with 3% over time any inflation will drove that loan amount down, while it boosts your savings in stock markets ect.
I'd get a decent car maybe a hybrid or EV depending where I'm at, for everyday shit. And a "fun car" like an Audi R8, something wasteful but lets you enjoy life, and score hot young girls with ease.
Money left over outside of this I would invest in something I can easily liquidate if I want to change investments around.
Okay but did you pay the tax man? Since we're using USD now
Fuck, no I didn't.
Now I have to hire a lawyer.
I could either pay 400k in taxes upfront.
Or spend 50k to set up a non-profit. Give away a few 100k to a cause I believe in, and then pay myself a yearly income from that. This doesn't work as well in small amounts.
I could roll that into a successful non-profit, writing for grants, getting donations ect. And justify my position. But, I'm a bit lazy, would rather just fix up a house.
At 1.1 million, I probably wouldn't get my fun car until I have a strong passive income of at least 10k a month built up.
wow fag type much?
Okay, I'll stop typing, I didn't realize English wasn't your native language and you have trouble reading.
Are you some kind of investment expert or property manager?
under, its 1mil
Property management is what I pay others to do.
Investment expert is accurate though. But anyone can be that with some experience and study of the markets.