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#1
08-14-2006, 05:19 PM
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$6M Gross - What Do You Do
My friends (a married couple) just came into $6M. They had 50% of Jamie Gold. As they are in my immediate social circle and it's been a dominant topic of conversation, been on the brain - "optimal way to spend the $".
Let's assume you don't have a ton of savings, you live in LA (as does the aforementioned couple) and this is basically your capital base. What's the best way to go about this? Or rather, what would you do? -Al 
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#5
08-14-2006, 05:23 PM
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Re: $6M Gross - What Do You Do
Unless they are completely tied to their jobs/social circle, I'd probably leave LA and buy a big house in a nice, cheaper community, and manage my investments for a living.
If they stay in LA, look to invest the large majority of it, and keep maybe 100K to spend on luxury items/vacations. $6M would be enough for me to retire.
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#6
08-14-2006, 05:23 PM
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Re: $6M Gross - What Do You Do
Leave LA for someplace with a far lower cost of living, invest the lump and cruise off of interest. Is the $6M before or after taxes?
A modest return of 6% on $6M would be $360k/annum. I.e., don't get funky, just invest and live fine off the juice for the rest of your life.
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#8
08-14-2006, 05:24 PM
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Re: $6M Gross - What Do You Do
buy beachfront properties. live off of 1M for two or three years. sell beachfront properties.
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#10
08-14-2006, 05:25 PM
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Re: $6M Gross - What Do You Do
[ QUOTE ]
Leave LA for someplace with a far lower cost of living, invest the lump and cruise off of interest. Is the $6M before or after taxes? A modest return of 6% on $6M would be $360k/annum. I.e., don't get funky, just invest and live fine off the juice for the rest of your life. [/ QUOTE ] Sounds perfect to me. ScottieK
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