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Ask HN: What would you do with a million dollars today?

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Re: Ask HN: What would you do with a million dollars today?

#51

Post by gbrits »

coip wrote: post #32
unregistereddev wrote: post #16

If the goal is generally to invest, then be boring. Split it among several ETF's. If the goal is to support a project which will improve the world, I'd support existing projects to either make clean water more accessible or help the world's poorest people become more self-sufficient (eg, Heifer International).

Could go one layer further and use the 1MM assets as a base/collateral to write options against and generate cash flow from the principal. Say 20% on 4 etfs you like, & 20% cash, then wheel it out (write ~20delta calls+puts ~45 days out). rinse lather repeat. Naive take, written crudely, but feedback nonetheless.

So short vol?

Re: Ask HN: What would you do with a million dollars today?

#52

Post by beeboop »

unregistereddev wrote: post #19
unregistereddev wrote: post #16

If the goal is generally to invest, then be boring. Split it among several ETF's. If the goal is to support a project which will improve the world, I'd support existing projects to either make clean water more accessible or help the world's poorest people become more self-sufficient (eg, Heifer International).

Since this is anonymous ... you know what, I have a million dollars. I'm going to keep some invested for the future, but it's far past time to give more of it away. I'm going to follow my own advice. Thank you for the hypothetical question. It reminds me that hoarding money isn't an end goal, but a means that enables other goals.

I'd be remiss if I didn't drop a suggestion to the nonprofit I volunteer at :)

https://ukandu.org/

It's an amazing group and mission. Some of the best people I've ever met in my life.

Re: Ask HN: What would you do with a million dollars today?

#53

Post by nayuki »

howeyc wrote: post #49
forbiddenlake wrote: post #13

Earlier quoted context omitted.

With only a million dollars? At what age, in what country/state, and at what withdrawal rate? "Experts" in the US often say about 20 years at a $40,000/yr withdrawal rate. Withdraw more, or enter a recession, or require more time, and a million dollars isn't enough.

You're listening to experts that can't do math. 20 yrs x $40k is $800k. Did the other $200k vanish??

The strategy is to withdraw 4% of the original value per year perpetually, hoping that the principal holds value.

Re: Ask HN: What would you do with a million dollars today?

#55

Post by Randolf_Scott »

I think there are real problems that computers can solve, such as engineering rockets to obliterate meteorites that may destroy earth. Also, producing jobs for citizens that have an interest in computers. On the other hand, computers can also generate problems that must in turn be dealt with. Thus computer in themselves have an entire eco-chamber of worth. One million dollars could be used to make more money perpetually, thus it could be used for help or hurt. Thus you would need to use it for immediate help such as food, clothing and shelter while the money continued to generate upon itself.

Re: Ask HN: What would you do with a million dollars today?

#56

Post by frozencell »

micromacrofoot wrote: post #5

I would do nothing. Honestly probably more of a net positive than what a lot of people are doing in the crypto space.

Could you elaborate on this please? If I play the devil's advocate: aren't Climate or Ukraine DAOs net positive in terms of 'good' simple action?
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