$1,000,000 is legally deposited into your bank account. What is your first move?

[Batsute]

set aside $400,000 for taxes

Gift my parents and sisters $15,000 to avoid gift taxes.

buy a home cash (considering the current poor borrowing rates)

There won't be much left...because of the taxes.

Those taxes really puts shyt into perspective. Me I’m fleeing the country and ain’t giving Uncle Sam sheeeeeeit.

 

[MR. SNIFLES]

COMING STRAIGHT TO THE COLI TO STUNT...ON...THESE...nikkaS!!!

 

[Supa]

"Even if the bank doesn't notice its mistake, the money's real owner will. When the bank investigates their customer's complaint and finds the money in your account, they'll naturally question why you didn't report it. If you've spent the money or transferred it to another account, you'll have to pay the bank back and may face criminal charges. That Georgia couple, having spent almost all of the $120,000 before the bank uncovered the mistake, were convicted of theft and ordered to repay more than $100,000 to the bank."

That's from Experian (credit reportin bureau)

All these idiots going to jail

Does a Bank Report Large Cash Deposits? Depositing a big amount of cash that is $10,000 or more means your bank or credit union will report it to the federal government. The $10,000 threshold was created as part of the Bank Secrecy Act, passed by Congress in 1970, and adjusted with the Patriot Act in 2002.

The feds already know about the money so you better pay taxes before they come knocking.

 

[The Half-Blood FKA Prince]

Thank God/the universe for this unprecedented blessing, move that shyt to private account, tell no one about it, and make some little investments and live quietly and modestly off the passive income generated.

 

[Baka's Weird Case]

some deeply irresponsible purchase im sure

 

[big bun]

BALL…

 

[WIA20XX]

1) Community College class on accounting
2) 200K/20% on a 4 unit....
3) Chill
4) Property ladder started. Allocate the next 800K accordingly - Turn 1M Cash into 10M NW with rental income.

 

[melraH]

Putting a whole new set of stamps on my passport. Spending No more than 800 a trip i'm Frugal

Probably invest in some beach front property. Use the property value to take a loan and build some commercial real estate on it. Like a 3 star hotel and a medium sized plaza.

 

[KING WILL]

Pay off debts.

Put 50K in daughter's account.

Gift her mom 50K so she can chill for a year.

About 50K for a few vacations.

Put about 50K down on a nice lil house.

Split 50K between a few accounts for living expenses for 12-18 months.

That would leave me with a lil more than 700K to invest.

Work till the end of the year and retire.

 

[GoAggieGo.]

Paying off my debts; so the last bit of student loans, credit cards, house, and my truck would be cleared.

Anything else is going towards my little girls future, and I’d probably buy me a car. Not quitting my job.

 

[Black Mamba]

Buy a 80 inch from amazon for next day delivery
Order expensive ass sushi and chill with weed smoking
Plan baby with wifey that same night

 

[Amestafuu (Emeritus)]

get it all out the country then try to get out the country

 

[Windows 91]

Is it after-tax?

-$500K in VTSAX off the top
-Pay off mortgage
-Fleet of old school GM cars (Grand National, '96 Impala SS, '63 Impala)
-Use whatever is left to trick on IG hoes.

 

[Maximus Rex]

Wait a few months to see if anything happens

After that
Pay off debt
Get a Condo
Buy a KIA K5
Invest 80% of what's left
Blow 20% of what's left

 

[Ridge Forrester]

Pay off my debts.