[KIS]

Originally Posted by SehrSchnell

What a retarded thread. OP, are you honestly asking what to do with your money here? That makes me wonder how you got that money in the first place.... but then again, large sums of money are easily available on internet forums.

If the money is real, then I would bet it is an inheritance. Someone that earned 1.5 million after tax would never ask an auto internet forum for financial advice.

[mjposner]

Originally Posted by Darth One

two chicks at the same time

Well played sir, because as we know, chicks dig guys with money

[pittsy]

Put into a whole life policy so that you become your own bank and can borrow the money and pay yourself back while you gain capital just as if you had never borrowed the money. Its the smartest thing you can do, let your money work for you instead of it working for others as well.

[surlynkid]

OP - don't listen to anyone here that does not already have a $1+ million portfolio. the ones that do tell you to get a financial advisor.

[Erhan]

Originally Posted by mpower4life

OK... now let's say you had $1.5 million sitting in an account and let's say had an income between two people of around $200K coming in a year... what would you do with that money?

I would worry... when did I loose half of my savings?

[mpower4life]

Do you honestly think I'm just going to pick the advice that someone gives that sounds like a good idea? It was more of a... What would you do with it (knowing some would give answers about blowing it on lavish things as fast as possible while still curious to hear what others would say on the flip side). And yes, it is a form of inheritance. It started out as a just for fun thread but then turned serious. This just came into reality so it's not like I've just been sitting here with my thumb up my ass. Also just trying to be as wise as possible and obviously I'll be speaking to a professional.

[M3Denver]

Originally Posted by mpower4life

Do you honestly think I'm just going to pick the advice that someone gives that sounds like a good idea? It was more of a... What would you do with it (knowing some would give answers about blowing it on lavish things as fast as possible while still curious to hear what others would say on the flip side). And yes, it is a form of inheritance. It started out as a just for fun thread but then turned serious. This just came into reality so it's not like I've just been sitting here with my thumb up my ass. Also just trying to be as wise as possible and obviously I'll be speaking to a professional.

Lol geez I thought you were gonna give to me

[Demkay]

Originally Posted by surlynkid

OP - don't listen to anyone here that does not already have a $1+ million portfolio. the ones that do tell you to get a financial advisor.

Hmmm, sounds like a winner.


.....Now to figure out if I SC the M3 or TT the Lambo.
.

[jphughan]

Originally Posted by KIS

Of course you are not taxed twice on other employee's salaries and legitimate corporate expenses such as rent and maintenance of an office. But you also do not derive a real personal benefit from these expenses. Now you can be aggressive with how you account for corporate expenses, but be prepared to defend that practice when you are audited by the IRS.

I wasn't referring to paying other employees. My comment referred to confusion on another poster's part that money the business owner paid him/herself would be taxed once through corporation tax and a second time through personal income tax; my point was that the amount the business owner pays him/herself is generally deductible from the corporate income tax bill, so it still only gets taxed once.

As for not deriving a real personal benefit from most deductible expenses, if wise spending results in your business growing, that generally means more income for you and your employees, and possibly a high-dollar acquisition later. I would absolutely say that those expenses result in a real personal benefit. Of course the payoffs from those benefits will be taxed, but even after tax you'll still have more money than you would had you not spent that tax-deductible cash to grow the business.

[cmk227]

Originally Posted by surlynkid

OP - don't listen to anyone here that does not already have a $1+ million portfolio. the ones that do tell you to get a financial advisor.

OP. I've been in the financial industry for over 12 years. I would recommend for you to look on the Internet for the closes UBS, Morgan Stanley, Merrill Lynch and Wachovia offices to where you live. I would then call and tell them you are interested in meeting with an advisor with 10 years of experience or more. I would than meet with all of them and select who ever you feel more comfortable with.

If you can ask them if they are club member. Club status is only reserve for the best producers which normally are the most experience and knowledgeable set of advisors.

Wish you the best of luck.

[tlp]

Originally Posted by Darth One

two chicks at the same time

Best Response.

[rdollie]

I'd find a professional investment advisor, figure out my lifetime financial objectives with his/her help, set a plan, and stop asking for financial advice on a site populated by people who like to spend signficant money on cars, mods, etc.

[roastbeef]

if i were you i would buy me an m3.





















































please?

[Terraforce1]

OP, give the money to me. I managed to day trade with $10 000 and turned it into $20 000 within 3 months. Imagine what I could do with $1.5mil

Disclaimer: I ended up losing $15 000 of that

[KIS]

Originally Posted by jphughan

I wasn't referring to paying other employees. My comment referred to confusion on another poster's part that money the business owner paid him/herself would be taxed once through corporation tax and a second time through personal income tax; my point was that the amount the business owner pays him/herself is generally deductible from the corporate income tax bill, so it still only gets taxed once.

As for not deriving a real personal benefit from most deductible expenses, if wise spending results in your business growing, that generally means more income for you and your employees, and possibly a high-dollar acquisition later. I would absolutely say that those expenses result in a real personal benefit. Of course the payoffs from those benefits will be taxed, but even after tax you'll still have more money than you would had you not spent that tax-deductible cash to grow the business.

Downstream, no argument from me.

[surlynkid]

Originally Posted by cmk227

OP. I've been in the financial industry for over 12 years. I would recommend for you to look on the Internet for the closes UBS, Morgan Stanley, Merrill Lynch and Wachovia offices to where you live. I would then call and tell them you are interested in meeting with an advisor with 10 years of experience or more. I would than meet with all of them and select who ever you feel more comfortable with.

If you can ask them if they are club member. Club status is only reserve for the best producers which normally are the most experience and knowledgeable set of advisors.

Wish you the best of luck.

I have an AYCO Priveleged Client Account. They are not free, but if you want top notch money management, it will cost something. All my funds are with Fidelity except my CD ladder with Morgan Stanley.

[nineonenine]

If I had that amount of money in an account, or that income between my wife and I, I know for a fact I would not be posting about it in this forum. lawl

[Nine]

I love how a fun thread is rapidly turned into a debate.

Just having fun with the idea and without getting into too many details....

I would take about 250,000 buy my dad a ferrari and a rolex. Everything else I would put it into the bank or some small investments.

[kwike92]

Originally Posted by M3Denver

buy property, or develop property on the cheap.
stash the rest in and offshore account that gives between 8-10% interest. Start a small business, incorporate, have your employers hire you through your business, lower your tax rate by about 15 - 20%.
sit back and collect checks for 10 years and stash as much as you can.
Prep for early retirement.

WELL SAID

[BMWrules7]

Originally Posted by CrusherM3

20 person posse...Mansion in Beverly Hills with a pool shaped like my penis.

Pools that small are called puddles.

[SoTempted]

Entertaining thread.

[boostedM]

Originally Posted by SehrSchnell

Wachovia... : You work in the financial sector?

haha I was thinking the same thing. Maybe he meant he hasn't worked in the financial industry for over 12 years?