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Invisibleplasma


Registered: 09/17/08
Posts: 9,019
How would you turn $60,000 into $1,000,000?
    #14975937 - 08/25/11 01:20 PM (9 years, 8 months ago)

What would you invest your money in? Would you start a business? Need ideas


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splash my nuts


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InvisibleJesusGoneRogue
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Registered: 10/24/10
Posts: 9,495
Re: How would you turn $60,000 into $1,000,000? [Re: plasma]
    #14975951 - 08/25/11 01:22 PM (9 years, 8 months ago)

silver. buy lots and lots of silver.

then wait.


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Onlinemongo lloyd
Lone Free Ranger
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Registered: 10/16/09
Posts: 9,050
Loc: UK Flag
Last seen: 8 minutes, 57 seconds
Re: How would you turn $60,000 into $1,000,000? [Re: JesusGoneRogue] * 2
    #14975962 - 08/25/11 01:24 PM (9 years, 8 months ago)

Photocopy it.


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InvisibleSilversoul
Rhizome
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Registered: 01/01/05
Posts: 23,576
Loc: The Barricades
Re: How would you turn $60,000 into $1,000,000? [Re: plasma]
    #14975973 - 08/25/11 01:26 PM (9 years, 8 months ago)

Land.  Buy now and wait about 14 years for the next bubble to peak.


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InvisibleCyclohexylamine
Turn on, Tune in, Drop out
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Registered: 09/08/10
Posts: 14,327
Re: How would you turn $60,000 into $1,000,000? [Re: mongo lloyd]
    #14975977 - 08/25/11 01:27 PM (9 years, 8 months ago)

Quote:

mongo lloyd said:
Photocopy it.



:highfive:


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Yes this is tymo - I just changed my name

Have you ever had a dream that you were so sure was real? What if you were unable to awake from that dream? How would you know the difference between that dream world and the real world?


There is NOTHING better than feeling that warm dissociative fuzz creeping up your body from IM K
Something abut that anaesthetic rush... :inlove:

Qualitative Research Chemical Effects and Experiences
The Wonderful World of Methoxetamine
The 3-Meo-PCP Chapters, Part One


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OfflineMad_Larkin
fnord
I'm a teapot

Registered: 11/29/07
Posts: 18,605
Loc: British West Indies Flag
Last seen: 2 months, 2 days
Re: How would you turn $60,000 into $1,000,000? [Re: mongo lloyd]
    #14975979 - 08/25/11 01:27 PM (9 years, 8 months ago)

Quote:

mongo lloyd said:
Photocopy it.



:brilliant:


--------------------
dugasprogie:ramen calcifies ur third eye
DoD



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InvisibleJesusGoneRogue
 User Gallery

Registered: 10/24/10
Posts: 9,495
Re: How would you turn $60,000 into $1,000,000? [Re: Silversoul]
    #14975980 - 08/25/11 01:27 PM (9 years, 8 months ago)

i expected better from you.


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Invisiblebadchad
Mad Scientist

Registered: 03/02/05
Posts: 13,113
Re: How would you turn $60,000 into $1,000,000? [Re: plasma]
    #14976071 - 08/25/11 01:42 PM (9 years, 8 months ago)

retirement account/401k.


--------------------
...the whole experience is (and is as) a profound piece of knowledge.  It is an indellible experience; it is forever known.  I have known myself in a way I doubt I would have ever occurred except as it did.

Smith, P.  Bull. Menninger Clinic (1959) 23:20-27; p. 27.

...most subjects find the experience valuable, some find it frightening, and many say that is it uniquely lovely.

Osmond, H.  Annals, NY Acad Science (1957) 66:418-434; p.436


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OfflineButteredToast
it'sfuckingbutteredtoast
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Registered: 09/05/09
Posts: 1,618
Last seen: 2 years, 7 months
Re: How would you turn $60,000 into $1,000,000? [Re: badchad] * 1
    #14976085 - 08/25/11 01:44 PM (9 years, 8 months ago)

Buy land, plant many marijuana plants on said land.

Buy more land, repeat.

Sell land.


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InvisibleSilversoul
Rhizome
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Registered: 01/01/05
Posts: 23,576
Loc: The Barricades
Re: How would you turn $60,000 into $1,000,000? [Re: JesusGoneRogue]
    #14976109 - 08/25/11 01:48 PM (9 years, 8 months ago)

Quote:

JesusGoneRogue said:
i expected better from you.



Land has a more reliable return than gold and silver, until of course the bubble bursts.  But you can prepare for that bubble to burst if you know what signs to look for.  Gold and silver, despite the claims of superstitious libertarians, do in fact create economic bubbles which eventually burst.  The difference is that their prices don't rise and collapse with the same predictable regularity as land, and therefore can be a riskier investment.


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InvisibleSalomon
ಠ︵ಠ balance ಠ_ಠ weaver ಠ‿ಠ
Male

Registered: 01/17/09
Posts: 24,921
Loc: America, FUCK YEAH Flag
Re: How would you turn $60,000 into $1,000,000? [Re: Silversoul]
    #14976131 - 08/25/11 01:52 PM (9 years, 8 months ago)

cocaine.


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EVERYTHING EVENTUALLY BECOMES A DESERT



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OfflineThe Ecstatic
Chilldog Extraordinaire


Registered: 11/11/09
Posts: 29,087
Loc: 'Merica Flag
Last seen: 49 minutes, 21 seconds
Re: How would you turn $60,000 into $1,000,000? [Re: badchad]
    #14976137 - 08/25/11 01:54 PM (9 years, 8 months ago)

Quote:

badchad said:
retirement account/401k.




This.

$5,000 a year (max allowed) into an IRA, all your gains are tax free.

100% equities.  you're young nigga :angrykidface:


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OfflineMad_Larkin
fnord
I'm a teapot

Registered: 11/29/07
Posts: 18,605
Loc: British West Indies Flag
Last seen: 2 months, 2 days
Re: How would you turn $60,000 into $1,000,000? [Re: The Ecstatic]
    #14976145 - 08/25/11 01:55 PM (9 years, 8 months ago)

Quote:

The Ecstatic said:
Quote:

badchad said:
retirement account/401k.




This.

$5,000 a year (max allowed) into an IRA, all your gains are tax free.

100% equities.  you're young nigga :angrykidface:




I don't get this.

Care to explain moar?

You pay 5k/year to someone for a 100% tax break?


--------------------
dugasprogie:ramen calcifies ur third eye
DoD



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OfflineThe Ecstatic
Chilldog Extraordinaire


Registered: 11/11/09
Posts: 29,087
Loc: 'Merica Flag
Last seen: 49 minutes, 21 seconds
Re: How would you turn $60,000 into $1,000,000? [Re: Mad_Larkin] * 1
    #14976164 - 08/25/11 02:00 PM (9 years, 8 months ago)

you can out up to 5,000 a year (10k for married couples) or 6k/12k if you're over 60 I think.

Basically you invest in whatever you want, and all the capital gains are tax-free.  The only drawback is the small amount you can add per year, and the fact that there's a substantial penalty for withdrawing money before you turn 60.

A lot of people say fuck this and open a regular brokerage account, but then they end up paying 15,25,33 percent in capital gains taxes.


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Invisiblebadchad
Mad Scientist

Registered: 03/02/05
Posts: 13,113
Re: How would you turn $60,000 into $1,000,000? [Re: Mad_Larkin] * 1
    #14976165 - 08/25/11 02:00 PM (9 years, 8 months ago)

Quote:

Mad_Larkin said:

I don't get this.

Care to explain moar?

You pay 5k to someone for a 100% tax break?




Depends on the retirement plan.  For example, in my plan, I'm matched, dollar-for-dollar, up to 5k.  It's important this is PRE-taxes too.

So, for every $100 I gross, I can:

1.  Take home $70 (after taxes).
2.  Put $200 into retirement.

It also DECREASES my income, so the income I do take home is taxed less.  All in all, it's close to 120% return (on the first 5k).  Guaranteed.  For me, no other option comes close.


--------------------
...the whole experience is (and is as) a profound piece of knowledge.  It is an indellible experience; it is forever known.  I have known myself in a way I doubt I would have ever occurred except as it did.

Smith, P.  Bull. Menninger Clinic (1959) 23:20-27; p. 27.

...most subjects find the experience valuable, some find it frightening, and many say that is it uniquely lovely.

Osmond, H.  Annals, NY Acad Science (1957) 66:418-434; p.436


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OfflineThe Ecstatic
Chilldog Extraordinaire


Registered: 11/11/09
Posts: 29,087
Loc: 'Merica Flag
Last seen: 49 minutes, 21 seconds
Re: How would you turn $60,000 into $1,000,000? [Re: The Ecstatic]
    #14976173 - 08/25/11 02:01 PM (9 years, 8 months ago)

google: 401k, IRA, and Roth IRA.


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OfflineThe Ecstatic
Chilldog Extraordinaire


Registered: 11/11/09
Posts: 29,087
Loc: 'Merica Flag
Last seen: 49 minutes, 21 seconds
Re: How would you turn $60,000 into $1,000,000? [Re: The Ecstatic]
    #14976184 - 08/25/11 02:03 PM (9 years, 8 months ago)

yeah I forgot to mention, all IRA money is pre-tax from your income, you save on taxes bigtime.  But then you're eventually taxed when you cash out and retire.

A Roth IRA works the opposite way.  You're taxed for the money upfront, but then you don't pay a cent when you retire.

So it comes down to this:  Do you think you'll be taxed more now or when you're older? There are dozens or factors to consider when choosing between the two.


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OfflineMad_Larkin
fnord
I'm a teapot

Registered: 11/29/07
Posts: 18,605
Loc: British West Indies Flag
Last seen: 2 months, 2 days
Re: How would you turn $60,000 into $1,000,000? [Re: The Ecstatic]
    #14976188 - 08/25/11 02:05 PM (9 years, 8 months ago)

Thanks for the info.

:themoreyouknow:


--------------------
dugasprogie:ramen calcifies ur third eye
DoD



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InvisibleCyclohexylamine
Turn on, Tune in, Drop out
 User Gallery


Registered: 09/08/10
Posts: 14,327
Re: How would you turn $60,000 into $1,000,000? [Re: Mad_Larkin] * 1
    #14976219 - 08/25/11 02:12 PM (9 years, 8 months ago)

1. Buy 60 grand worth of bulk drugs.
2. ?????
3. Profit!!!


Alternatively I could just sell those drugs to make a profit..


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OnlinePatlal
You ask too many questions
Male User Gallery

Registered: 10/09/10
Posts: 43,658
Loc: Ottawa Flag
Last seen: 1 minute, 40 seconds
Re: How would you turn $60,000 into $1,000,000? [Re: Cyclohexylamine]
    #14976225 - 08/25/11 02:13 PM (9 years, 8 months ago)

Real estate man...

Apartment building with positive cashflow and you will be a millionaire in no time


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