If I had five million dollars, I would first put three million in a bank account that gives me the most annual interest. This will be my income, because if there is a 1.6% interest rate and I have just 1 million dollars that would be $16,000 a year. Multiplied by three and it would be $48,000 a year, and the cool thing is I wouldn’t have to work for it. After my income is secured I would cautiously invest $1million in the stock market, but I wouldn’t invest in a big company like Apple, I would invest in a small company that has cheap stocks, so if there is a 1% increase in the stock’s value it would basically be giving me $10,000 if the stock cost around $1.00. Then with the remaining million I would pay off my house and any debt that my parents may have. I will then proceed to pay off my college debt as well as my sister’s college fund. With any remaining money I have I would buy a 2014 BMW coupe M5, and lastly, but not least, I would donate half of my profits from the stock market as well as bank interest every year.
What I would do with 5 million dollars
February 28, 2012