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Toroth

What to do with a million $ worth of xrp?

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IMO, I think difference between the profits we are generating with our hodlings and a lottery win is clear, we all seem to be affording it more respect. I got in at .23 (average price across 5 trades) and am hodling in the low 10's of thousands.. My last purchase was actually a few hours before the escrow completed and I watched it that evening. I was just blown away by the sudden increases; between the time I put my monitors on, got a coffee and swapped uniform for pj's, I had  'earned' over $2k.. I'm sure we've all done the 'what if' spreadsheets and just wowed at the figures.. no?!.. just me then.. :/

What I'd really like to do is keep it secret from my work colleagues and carry on doing the job I love, but just do it during the months where I'm not defrosting the car in the mornings or evenings when I finish.. I've already looked at round the world cruises, which is what I'd probably do and use the time away to really think about what I would do with the rest of the money.. I have a car which I adore and want to keep forever, even though I will still fantasise about the Lambo's.. If I could pay off mine and my brother's mortgages and stay grounded, that would be enough for me.. I'm also a single guy with no kids, so I don't need to hodl out forever.. A couple of million £'s would be just fine.. ;)

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Hmmm...I'm not a fancy person. $1 million would go a long, long way with me. I live in a cheaper area of the country. I'd still want to work part time at least. My spouse would still want to work, though maybe at a less stressful job with lower pay. But all bills would still likely be covered without ever touching the money. 

I would likely complete a college fund for my son, travel a lot more (I do a bit already), and there are some great ways I'd like to donate locally. Also my uncle runs a charity for children in Honduras. I would donate a lot more to that, I think. 

Overall the money would change my quality of life so that I could cut down to part time work and travel a little more. You will never see me spend an insane amount of money on a car. My dream "car" is a truck. And I own it. 

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How do they say it : 'Money can't buy you happiness' ?  I think that's only part true in my case.  

I earn a good living. I have a second job as an independent on the side. I own a house (or more accurately my bank owns a large part of the house :P) in a nice neighbourhood, with a garden and all that. We have two cars. On the material side, I already have anything I could want (well, maybe a bigger car would be nice :lol:)

But what I feel I don't have enough, and I think I'm not the only one in this, is time. My main job keeps me out of the house at least 12 hours a day. The most part of my second job I do in the evenings and the weekends. I have a 5 year old daughter and a second one on the way...  

So that's my main goal in this investment and my other endeavours :  being able to quit my job, and to have time to do what I want. Spending time with my loved ones, reading, running, getting back in shape, sleep in, watching good movies, ...  I would keep my second job as an independent though, just because I like it so much. But without all the pressure of succeeding.

To me that's happiness. So one day I hope to be able to cash out my precious XRP's in free time  :lol:  And to be able to give my kids a good start in life.

Apologies if I made any typos or other mistakes, English is not my native language...

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Those that want to pay cash for a home, isn't it better to get a loan due to future value of money.  Also, if you can get an investment fund of at least 5 %,  and the mortgage rate is 4%, you are ahead of the curve.

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5 hours ago, Jumanji said:

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.      

 

 

Tithing is a wonderful powerful thing to do @Jumanji. I have to admit I could do a little better at it! I am already invested in Vanguard Index funds (nowhere near that amount, but hey you have to start somewhere!) and will continue to add to it.

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On 12/21/2017 at 5:29 PM, SushDawg said:

Those that want to pay cash for a home, isn't it better to get a loan due to future value of money.  Also, if you can get an investment fund of at least 5 %,  and the mortgage rate is 4%, you are ahead of the curve.

some people hate having loans and payments.  I'm totally onboard with you here, just put it away and out-earn the interest plus deduction..  Just like Student Loans, under the current plan, borrowers pay income based, and also have forgiveness (10 or 20yr depending). I think its crazy for anyone to just pay cash for college (unless you have it like that and it doesnt matter to drop 50, 150, 300k) and not take the loans. 

My concern is when I want to buy that 26MM house and I have no job but a stack of cash. Will they still loan with a nice downpayment?  I assume it wont be an issue at that point.

Edited by Guest

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I had a million and lost it 

buying silly things isn't fun it is work. 

Freedom is the proper use of money.  The ability to free your mind of burden and be the true you. Whatever that might be

turns out the true me is an egotistical ***.  Hopefully I have evolved.....but one thing is sure. I will have another chance to find out because ripple has to best use for this technology and soon we won't need to wait 8 days for money to transfer  so we can invest in the company that will change how money transfers 

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2 minutes ago, MrClamtastic said:

I had a million and lost it 

buying silly things isn't fun it is work. 

Freedom is the proper use of money.  The ability to free your mind of burden and be the true you. Whatever that might be

turns out the true me is an egotistical ***.  Hopefully I have evolved.....but one thing is sure. I will have another chance to find out because ripple has to best use for this technology and soon we won't need to wait 8 days for money to transfer  so we can invest in the company that will change how money transfers 

So interested ...how might you now spend a million the second time around? 

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2 minutes ago, RegalChicken said:

I've dreamt of these for years. I used to have a CDory

http://www.rangertugs.com

I'm still having difficulties wrapping my head around the incredible numbers and gains we're experiencing with XRP right now. For a number of us here, we're already well on our way towards seeing our dreams become actual reality. Surreal experience for me for sure.

Niiiice looking boats them rangertugs! :D

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