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What to do with a million $ worth of xrp?

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5 hours ago, viking3 said:

I think about all the good I could do in the world, if given the opportunity.  So when XRP moons, I will start a foundation that would invest in technologies to help combat global warming.

Job#1 - unhitch from Bitcoin and their insane energy requirements.

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34 minutes ago, Chookstar said:

When we’ve made a million or so and exchanged XRP for fiat it’s probably wise to remember that a large portion of first division lotto winners go broke something like two years later. So thinking about how to spend / invest earnings is a really good thing to ponder.

 

I have read that once you get to a certain level of wealth more money does not make you happier. Being debt and mortgage free is one of the most liberating feelings one can have. I know because at one stage I was in approximately $750 000 of debt and now I own my house out right and have a lot of free time too. But beyond that you can only eat so much, wear so many clothes at once and go on so many holidays. IMO true wealth is actually about quality relationships and helping others.

 

My plan is to move to the next level of wealth – securing my future with money invested in Super (Aussie version of 401K I think?) and index funds. I do want to upgrade my car but I am honestly really happy with my Toyota RAV 4 – it drives so well and has cost me next to zero in repairs. I’ll probably get a Suburu XV or a Range Rover Evoque. Then I’ll help some family with mortgages. I do love to travel so more of that is definitely on the cards, and a few house renovations.

 

There is a story about an Indian master…he gave a lecture one rainy evening and afterwards he went to fetch his umbrella and coat that he’d left in the lobby. Alas a thief had stolen his umbrella! His friend said to him ‘Oh no that is such a terrible thing’ and the master replied ‘I only wish they’d taken my coat too!’

 

I really like this story because it illustrates non-attachment. I am always looking to see what I no longer need and can give away, to me too many material things clog my mind. However, I have always wanted financial independence…and thanks to XRP that is looking more promising by the day.

The real trick is defining the word 'enough' - sounds to me like you have great insight and instincts and you won't get into a fix with newfound wealth.

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I will start a gym..... I promise (it is like 5th time I am promising that) :D , I will buy a new house to my parents and then... hell I don´t know, probably will buy new Dodge Challenger :D and house in Bern or Zurych and I´ll be just smoke hash and travel..

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Buy my Mom & Dad thier house which they have rented For 40 years. 

Build me and my family an eco friendly self sustaining 3bed Timber Frame house.

put large amount in the kids ISA’s

help my 3 brothers on the property ladder

buy a Tesla model X

reinvest in Ripple or whatever I deem has the same amazing potential.

 

 

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I would need 20 million after tax dollars to accomplish my goal.  

12 million - pay cash for real estate (monthly income would pay for lifestyle costs and then some)

2 million-  education trust for my kids

1 million-  pay off house and keep the rest as cash in the bank

5 million-  vanguard index funds

10% tithing to my church

I could live more than comfortably off the monthly income the real estate would generate.  I would still work my day job but just cut back on the hours and open up more time with family, not having to miss any of my kids' games or events.  long term capital gains in the US is 20%, so these numbers represents 80% of my total goal. 

As this gets closer to reality I would meet with an attorney for possibly setting up a trust before cashing anything out.      

 

 

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