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05-02-2021, 10:48
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#16
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Senior Cruiser

Join Date: Sep 2014
Location: puget sound washington
Boat: 1968 Islander bahama 24 hull 182, 1963 columbia 29 defender. hull # 60
Posts: 13,092
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Re: Just for fun, what would you do with a million dollars
Quote:
Originally Posted by patrickza
I'm a longtime lurker but I thought just for fun
You've hypothetically been spending less than you earn and investing the difference for years. Now you've got a million dollars and want to go cruising with potentially no more income coming until pension time 20 years away.
How do you slice and dice the money? How much on the boat? How much on upgrades? How much do you leave invested or reinvest to live off?
And finally what do you do?
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10k for me to play on the boat with ( its already paid for and almost done with refit)
90k in a savings/ checking account for fast cash.
900k into investment grade bonds that have daily liquidity. ( like i already have )
Live comfortably off of the approx 25k a month dividends .
Decide which kid gets what when I finally stop breathing.
__________________
Non illigitamus carborundum
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05-02-2021, 11:16
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#17
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Moderator
Join Date: Mar 2008
Location: Rhode Island/Florida USA
Posts: 3,373
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Re: Just for fun, what would you do with a million dollars
Quote:
Originally Posted by newhaul
10k for me to play on the boat with ( its already paid for and almost done with refit)
90k in a savings/ checking account for fast cash.
900k into investment grade bonds that have daily liquidity. ( like i already have )
Live comfortably off of the approx 25k a month dividends .
Decide which kid gets what when I finally stop breathing.
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You're living off of $300K/yr in dividends and interest on a $900K Principal investment? This would mean making consistently 33% returns on investment.
That is either an exaggeration, a mathematical error, a typo, or unsustainable over the long term.
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05-02-2021, 11:26
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#18
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Registered User
Join Date: Mar 2014
Location: Pacific NW.
Boat: KP 46
Posts: 792
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Re: Just for fun, what would you do with a million dollars
put 100K in each.
TSLA
SPCE
ETH
SLV
EXK
ALPP
RARE
SGSVF
TSM
and buy a new (used) dozer.
M
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05-02-2021, 11:27
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#19
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Senior Cruiser

Join Date: Sep 2014
Location: puget sound washington
Boat: 1968 Islander bahama 24 hull 182, 1963 columbia 29 defender. hull # 60
Posts: 13,092
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Re: Just for fun, what would you do with a million dollars
Quote:
Originally Posted by Shrew
You're living off of $300K/yr in dividends and interest on a $900K Principal investment? This would mean making consistently 33% returns on investment.
That is either an exaggeration, a mathematical error, a typo, or unsustainable over the long term.
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Actually it was an exaggeration i just typed. The real facts are a bit lower actually more like 9k a month .
It would be an extrapolation of almost tripling my current investments .
Any unused moneys are automatically reinvested every 3 months.
__________________
Non illigitamus carborundum
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05-02-2021, 11:32
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#20
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Registered User
Join Date: Jul 2015
Location: Reno / Bodega Harbor
Boat: Bruce Roberts Offshore 44
Posts: 303
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Re: Just for fun, what would you do with a million dollars
Simple. Keep working on my boat til it runs out.
__________________
Rick
S/V Blind Faith
Bodega Bay, CA USA
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05-02-2021, 11:34
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#21
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Registered User
Join Date: Jun 2017
Location: San Lucas Sacatepequez Guatemala
Posts: 400
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Re: Just for fun, what would you do with a million dollars
Quote:
Originally Posted by patrickza
I'm a longtime lurker but I thought just for fun
You've hypothetically been spending less than you earn and investing the difference for years. Now you've got a million dollars and want to go cruising with potentially no more income coming until pension time 20 years away.
How do you slice and dice the money? How much on the boat? How much on upgrades? How much do you leave invested or reinvest to live off?
And finally what do you do?
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Not do anything differently. $1MM is not enough to make a difference. I am already living off passive income quite well.
If I had a $5MM windfall. I would buy a non production boat for about $1MM. Find a captain that I am comfortable with(which is easier said than done), put him on the pay roll and have him do anything I don't want to do on the boat at any particular moment or time period. Cruise 6 months a year with friends, family and just with the captain. Have the captain move the boat wherever I want to sail the next 6 months if I don't want to do part or all of that specific move.
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05-02-2021, 11:44
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#22
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Marine Service Provider
Join Date: Dec 2011
Posts: 1,541
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Re: Just for fun, what would you do with a million dollars
By gold and bury it on some uninhabited South Pacific island. Sent me the GPS coordinates for safe keeping.
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05-02-2021, 12:01
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#23
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Registered User
Join Date: Nov 2010
Location: Port Angeles, Wash.
Boat: 1967 Mariner 40
Posts: 45
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Re: Just for fun, what would you do with a million dollars
Come on kids, it's a hypothetical and I see it as a million to blow. If I had a million to blow I would buy a Moody DS 54. It would depreciate like crap and I would be spending all kinds of money on upkeep but I sure would be grinning while it did!!
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05-02-2021, 12:06
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#24
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Senior Cruiser

Join Date: Sep 2014
Location: puget sound washington
Boat: 1968 Islander bahama 24 hull 182, 1963 columbia 29 defender. hull # 60
Posts: 13,092
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Re: Just for fun, what would you do with a million dollars
Quote:
Originally Posted by Larry T.
Come on kids, it's a hypothetical and I see it as a million to blow. If I had a million to blow I would buy a Moody DS 54. It would depreciate like crap and I would be spending all kinds of money on upkeep but I sure would be grinning while it did!!
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I will stick with my defender .
__________________
Non illigitamus carborundum
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05-02-2021, 12:15
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#25
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Registered User
Join Date: Apr 2018
Location: Scotland
Boat: 42ft Moody Ketch
Posts: 643
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Re: Just for fun, what would you do with a million dollars
Give it away to charity , money makes you greedy happy with my lot in life
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05-02-2021, 12:31
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#26
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Registered User
Join Date: Nov 2016
Location: Melbourne Beach / Fl Keys
Boat: Pursuit 3070 Sold / Cape Dory 28 FBT
Posts: 137
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Re: Just for fun, what would you do with a million dollars
I don't know but I would be smarter than I was with my first million.
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05-02-2021, 12:33
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#27
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Registered User
Join Date: Nov 2016
Location: Melbourne Beach / Fl Keys
Boat: Pursuit 3070 Sold / Cape Dory 28 FBT
Posts: 137
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Re: Just for fun, what would you do with a million dollars
No not really. I'd probably go boat shopping.
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05-02-2021, 12:45
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#28
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Registered User
Join Date: Oct 2019
Location: Kennebunk ME
Boat: Owner built 60’ Aluminum Expedition Yacht.
Posts: 1,854
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Re: Just for fun, what would you do with a million dollars
I’d buy a Mississippi River barge and a push boat. On top I’d build a micro brewery and a pizza factory for my manatee crew. For a start, they would anchor it in front of Mar A Lago so more manatee friends could produce a huge cloud of offgass and a raft of manatee biscuits to land on Miami Beach. They would move from Fort Lauderdale to Newport RI for the summer. They’d sell manatee gas for cars and manatee biscuits as high fiber dietary supplements. And that’s just the beginning kimosabi !! 
Happy trails to you.
Mark and his manatee “investment fun not fund “ crew.
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05-02-2021, 12:53
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#29
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Registered User
Join Date: Jun 2016
Location: Poole, Dorset, UK
Boat: Westerly Storm 33
Posts: 149
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Re: Just for fun, what would you do with a million dollars
If I was a sailor with a million dollars, I'd probably have started with two million.
__________________
"Outside of a dog a book is a man's best friend. Inside of a dog it's too dark to read" (Marx G. 1890-1977)
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05-02-2021, 12:59
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#30
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Registered User
Join Date: Jun 2008
Location: Tampa, FL
Posts: 5,032
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Re: Just for fun, what would you do with a million dollars
Quote:
Originally Posted by Paul Kelly
If I was a sailor with a million dollars, I'd probably have started with two million.
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I think this is the REAL answer!!!
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