New Annual Salary = $1,000,000

• jmog

  I would save 40% give around 20% to charities and "live" on 40%. That's still 400k a year to live.on....
• dwccrew

  

  thavoice;944710 wrote:Means I would make 22 million bucks. Probably would be around 11 million after taxes.
  
  I would say I would spend maybe a quarter of it. I really dont know what I would do if I had lots of money.

  Your wife wouldn't let you do any of this.
  

  Heretic;944835 wrote:Reps. **** the future. Give me a ****load of money and I'm partying like Charlie Sheen!

  This. I'd spend it because you never know, one day I could be walking down the street counting my money and BAAM, get struck by lightning never having enjoyed that money because I was going to try and "save" all of it.
  

  DeyDurkie5;944865 wrote:que con alma "money doesn't make me a human. i find happiness in the things that aren't shown through money. i live on lake eerie and and im the best at everything"

  I'd rep if I could. gotta spread more rep around.
• WebFire

  Can't see how I could spend more than $300k/yr without just being stupid and reckless.
• Con_Alma

  I really don't know the answer to what we would do.
  
  knowing that it's a lot of money and way more than we would need I guess we would probably spend more than we do now but saving the vast majority of it like others have posted is probably a good guess on what would happen for us.
• gut

  WebFire;945869 wrote:Can't see how I could spend more than $300k/yr without just being stupid and reckless.

  This. Although I could drop a good bit of cash traveling the world eating expensive meals and staying in luxury suites. But you can easily travel the world on a generous yet far more affordable budget (don't need the $3k a night Presidential suite).
  
  Make some smart real estate purchases to rent and you can get 8-10% annual yield (plus a property that will be worth more than you paid in 30 years). And assuming you have to keep working until your 60 to make this money, it's going to cramp the lifestyle you can live quite a bit.
• Al Bundy

  I think a lot of it would depend upon how much free time I had. I am assuming that if I were paid a salary of $1,000,000 that I would be working a lot. If I were working a lot, I wouldn't have time to spend big chunks of it on things like vacations, so I think that I would save a large portion of it.
• O-Trap

  

  Mulva;944995 wrote:I would probably travel/gamble most of it away every year. No point having the money if you aren't going to spend it.
  
  Why would I need $10 million saved up when I'm 60 years old?

  Inflation is a bitch.
  

  sleeper;945442 wrote:It's not really about what you would do with the money, its strictly what percentage of the income would you save(ie. not spend on useless junk you don't need). Saving includes investments.

  
  It would depend. I would be looking for frugal investments, but an investment can vary in the amount needed. Either way, I'd probably live on $100K, bank $450K, and invest $450K as capital in business ventures each year.
  
  In any case, I'd be trying to grow the amount to varying degrees each year.