Honest question for the entrepreneurial (merely for personal use!) What would you do if you won the lottery, but:

  1. With $1 million
  2. With $2 million
  3. With $5 million
  4. With $10 million
  5. With $20 million

What would you purchase, invest in, create (eg. businesses, etc.) etc.?

What would be your financial goal, how much is “enough?”

Where would be your base, would you move; why?

What if you were a good person, ethical, not predatory or selfish, and wanted to do good?

What if you were religious, and wanted to give back, or start an initiative?

What if you were a woman, would it have any bearing on what you would/could do, or its ease?

How would you put this windfall to its best use, for both you and others, to maximize it, in perpetuity?

You don’t have to answer all the questions, it’s moreso testing business savvy, financial literacy, trends, and a balanced life; and generating interesting discussions.

Thank you for your contributions. 🙏🏻

  • QuietEffect@alien.topBEnglish
    1·
    1 year ago

    1. Kids’ college, off-grid cabin in the woods, rest in HYSA

    2. Kids’ college, off-grid cabin, 2nd cabin for AirBNB, rest in HYSA

    3. Kids’ college, cabin, 3 AirBNB properties, rest in HYSA

    4. Same as 3, plus a self-storage business

    5. Same as 4.

    My ethics, faith, and sex have no bearing on my decisions.

  • telecomtrader@alien.topBEnglish
    1·
    1 year ago

    ok I’ll give it a go.

    Assuming the money is in my business account and not private.

    company: 25 mil revenue
    ebitda 1.5 mil
    reserves: ~ 1-1.5 mil
    1 mill. Use it as a buffer for long term. add additional people (1 or 2) in specific areas.

    2 mill. same as 1, but also reduce a but of debt to reduce interest payments.
    5 mill. reduce debt, increase development team, hire business development people and additional ops people

    10 mill. debt free, same as five mill. Buy out competitors / strugglers for additional revenue

    20 mill same as 10. expand, go global. 2nd and 3rd office.

    duplicate what we do in other regions.

    ​

    pay my self and my team a one time bonus.

  • betteringyou@alien.topBEnglish
    1·
    1 year ago

    All I would really need is $1M liquid, and ensure my lifestyle doesn’t change much. Pay off my debts as well as my families. However, keep the mortage as the rate is low enough and the oppurtunity cost of throwing a lump sum of cash away at that would be foolish.

    First, buy some land in rural MO for personal use as well as an investment.

    Diversify the heck out of the rest, throw most of it at a moderate to high risk index fund (VOO), but also have some bonds, CDs, etc. in the mix.

    I am only 25, so I am fine with the risks associated and the volatility of the market.

    Have maybe $50k or so in cash, and just keep doing what I am already doing everyday as fortunately, my work is play.

    Additionally, I don’t know anything about real estate so I wouldn’t allocate money there until I felt ready to do so.

  • Ben_Stark@alien.topBEnglish
    1·
    1 year ago

    So 1-2 million I would invest to generate income. I would quit my job and focus full time on the invention I’m trying to get to market. Hopefully that invention will generate more income. Hopefully I could manage that business in 4-8 hours a week and it would generate enough income to hire real developers for one of a handful of app/business ideas.

    Anything over 2-10 million probably gonna solo-dev or hire one dev to get started with one of my app/business ideas.

    10+ million I’m going right to the dream app.

    The real goal is to have an app/business generating enough income that I can use its marketing budget to fund my lmp3 race team. So I basically have to be able to burn $500k-750k a year.