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Toroth

What to do with a million $ worth of xrp?

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Roommate and I had a conversation during the last pump about what we would do if we had earned a million dollars off xrp. Let's assume that it was just extra spending money after paying off ALL debts while still holding a nice chunk of XRP for future gains.

What would you all do with it? My roommate was coming up with some crazy ideas which, to me, just sounded like throwing it away. I, on the other hand, have been having a hard time with this thought exercise in that I can't think of anything I would "want".

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2 minutes ago, xrp_moonjet said:

I will use 50% of the money to buy few properties.. rent them.. Will travel the world with the rental income :P 

Will rest the balance 50% in XRP 

But with the limited qty that I have, I can't become a millionaire in my lifetime .. But lets see

I'd prefer not to liquidate for just a million. I'm too young to make that stretch out enough to enjoy.  

 

But at $3 million I would invest $1 million into a luxury vacation lake cabin, which I would VRBO when not in use for additional income. I'd have a property management company handle it for me so I don't have to deal with it. 

of the remaining $ 2million (assuming these numbers are after taxes) I'd invest $1.5 into long term income generating assets, dividend paying stocks and the like.

the last $500k I'd use to pay off my current home, buy a very nice but likely used Corvette (value buyer here) build my dream garage, and likely start a gym. 

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10 minutes ago, Toroth said:

I, on the other hand, have been having a hard time with this thought exercise in that I can't think of anything I would "want".

You  @Toroth are a true and honest soul. Get what you need without greed. And spread the rest for the god of those in need. :heart:

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3 minutes ago, JA8 said:

I bet once you achieved the $1m (or indeed the $3m as per RegalChicken's post) your idea of wealth would have changed accordingly, and you'd be setting your sights on $10m. I reckon you'd leave it all in XRP. Or most of it ;)

Kinda my thoughts as well. A million seems like a lot, but is it? 

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I'm not talking about reinvesting for more money or using that 1 million to pay off debts (house, car, ect.) as that would be the obvious priority before spending on oneself. I'm talking about what you would actually spend it on material wise. I agree with some of the previous responses, aligning with my roommates idea, of traveling to be a good use of ones extra spending money but I'm a recluse hermit lol.

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1 hour ago, zenkert said:

You  @Toroth are a true and honest soul. Get what you need without greed. And spread the rest for the god of those in need. :heart:

Thank you for the complement but i am anything but. Along with everyone else, we all have our demons figuratively speaking. I've lent out thousands, helped co-workers/friends/family make thousands, and given out hundreds to those in need. However, I still have a problem giving money to beggars. Usually just a water bottle or some change i keep in my car =/

Edited by Toroth

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51 minutes ago, Toroth said:

Roommate and I had a conversation during the last pump about what we would do if we had earned a million dollars off xrp. Let's assume that it was just extra spending money after paying off ALL debts while still holding a nice chunk of XRP for future gains.

What would you all do with it? My roommate was coming up with some crazy ideas which, to me, just sounded like throwing it away. I, on the other hand, have been having a hard time with this thought exercise in that I can't think of anything I would "want".

I think you will be able to Hold XRP in a form of escrow and earn a return for facilitating  liquidity for transactions. I hope there is a form of future deposit for XRP from which we can earn a steady return, i'll be fine with that.

Edited by Jackdarippler

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