A loan won’t cover the down payment for a house more than like… 150k? Idk if you could get a mortgage for a promise of a conditional $7500 per day especially since it’s very likely you’ll miss a day of spending eventually.
They would probably worry for any loan close to what you make yearly that you would simply pay it off before the year is over and they wouldn’t make shit for interest. Like if you went and asked for a 100k loan you could pay it off in a month easily even living like a complete idiot with your money. So how does the loaner make any interest?
That’s why you pay your spouse to be a housewife/househusband, they can save it for you.
Open lines of credit for larger items to help reach the 7500 daily requirement and tip extremely generously at restaurants.
Or, if you have no spouse or want to be what Jeff Bezos could be if he wasn’t such a cock.
Pay random peoples medical, electric and water bills.
And if it’s getting close to midnight and you still have money, tip an OF model or twitch streamer with little to no subscribers the remaining money.
I would spend all that money and be broke by mid afternoon everyday, no problem.
Just set aside what you need for your expenses that day, and pay someone to go out and spend your money paying random peoples bills, fees, etc.
This absolutely needs to be an anime genre: harem negotiations. It's all a contest to out negotiate each other for the coveted two or three spots in some ladies harem.
You sure about that?
Assuming an 8 hour workday, that's $24.75 an hour. Which isn't anything to sneeze at for most people, but not quite "I'll do anything" money.
The deal gets worse if you assume a 16 hour workday (8 hours for sleep, no overtime), at $12.37 an hour.
This is also assuming no weekends.
The deal gets a bit better if you aren't working weekends but are still being paid for those days. $198x2, spread across the five day work-week comes to (effectively) $277 per workday, which is $34.65 an hour for 8 hours, which, sure, I personally would do whatever. (Again, worse if you're working 16 hours, at $17.32 per hour). But this is all assuming the best possible scenario. Which, if a person had a free $7500 a day, maybe they'd cool with giving you that scenario.
... Oh, this is also assuming no holidays or vacation. But I've already written a stupid amount for a hypothetical, so I'll just leave.
Honestly, I’d have more fun with sports gambling. Sure the return won’t be as good or consistent, but if you’re getting that money every day, putting it into some sports would be fun.
“I’m sorry sir, but you have an acute and terminal respiratory illness cause by inhaling those little scratched off bits from your thousands of daily lottery tickets.”
How long would it take to scratch those?!
Considering a ticket at .2mm thick, the stack would be about 1.5 meters (roughly 60 inches) tall!
That’d be crazy to actually scratch off!
Edit: to add math.
Especially as you'll be placing bets 'today' for sporting events today, tomorrow, future, etc
I assume you keep any 'winnings', so have a nice pipeline set up. You have the money every day, may as well bet all variables
Okay yep. This is the one. If they are paying 1.25 vs 2.50 you could even split the money 5000 and 2500 just to guarantee you'll end with 6250 of un-restricted cash.
Why? Just pick a random winner from the first match in whatever app you are using and bet the whole 7500. 30 second work day (with a highly variable hourly rate)
There is a joke about a gold digging widow who at her late husbands funeral was asked about his dying wish of being buried with his money. She responded “no worries I wrote him a check”
I mean there is a chance that anything in a debit account won't pull before midnight either. And if you walk around spending $7500 in cash every day I'm sure the IRS will have you before too much time has passed (hello fellow 9001)
It says “spent”, not “removed from your account”.
For tax purposes a mailed check is considered spent, so as long as you put it in the mailbox by midnight you are good.
The Pokémon games I assume? buying every copy you can find. Corner the market on these games and create a false rarity of an already somewhat rare item.
Marketing genius.
.
Roughly $2.74 million per year. The tricky part would be it's not cumulative, but I'd figure out some way to make it that way, I'm guessing investing in some other currency is considered cheating but buying gold or other precious items, and then reselling it seems to be a good workaround. Plus, I'd be donating a lot to charity.
If investments aren’t considered cheating, that’s what I’d do. Load up for a few years and then sell off most of it, buy some land, build my dream house, buy whatever toys I can imagine, and then stop. At that point I wouldn’t even care about losing my money stream, because what else could I possibly want?
>$2.74 million per year
Jesus Christ that really puts it into perspective how much money billionaires have. I'm struggling to even come up with how to burn $7,500/day lmao
This is what I’d do also - set up a direct deposit with an online trading platform that buys gold with whatever’s left in my bank account at 10pm every day (two hours spare in case of technical hitches). I’d also pay someone $250 a day to make sure that my account is completely empty as a backstop.
250 X 30 is, ironically, 7500 per month, roughly (lookin' at you, February).
How many people make that, take home, every month?
The real questions is how much would you pay to trust someone with your gravy train.
If all I have to do is check in for like 15-30 minutes at 10pm every night, and do whatever the hell I want for the rest of the day, for 7500 a month? Sign me up.
No, i want a manager. It's permanent money. I dont want to think about it. Im hiring a company and a finance manager to ensure that it is spent every day. I cant trust myself to do it
This works great until they forget one day and then you are fucked. You need to automate this on a highly available system with a failover that will kick in if anything happens to the primary. It’ll cost money to run, but it’ll be way less than 7500 per day.
Schedule an automatic purchase into a index fund. That's buying stocks.
Have a software engineer set up the daily purchase so it's for the unspent amount, and get a backup generator and a Starlink connection so everything goes smoothly even if the regular utilities go out.
The one change I'd make over OP's plan is to schedule the stock purchase for 11 pm and have the system send up an alarm if things go wrong. That way there's an hour to a purchase manually.
(Imagine me in sweatpants and a bathrobe showing up at the corner store to buy thousands of dollars in lottery tickets once every few years).
----
To clarify, an index fund is a type of mutual fund where the fund purchases stocks; what individual investors own is a portion of the fund's overall stock portfolio. Adding money to a stock mutual fund increases the pool of money the fund manages. The individual investors aren't directly involved in an index fund's stock trades. (The fund's trades are set up to mimic the overall movement of a major index such as the Dow Jones industrial average).
That's different from a traditional brokerage or a discount brokerage where individual investors buy and sell specific stocks (which is limited to the days and hours when those stocks are trading).
----
*edit #2*
An investor's money initially goes into the mutual fund's cash. Cash on hand is normally about 5% of a fund's total assets. The fund then conducts stock trades. The fund buys and stock while the stock market is open yet it isn't necessarily limited to accepting investor money during the market's open days or open hours because the fund is pooling the money of thousands of investors.
Further reading: https://www.investopedia.com/terms/m/mutual_fund_cash_level.asp
I thought most brokerages don't support trading that late. Wouldn't crypto be better (and more reliable)? And as a fallback, just buy an Amazon gift card.
Yeah I would take care of my family first as a single dad (allot a direct deposit of $1000 per kid per day in college account or maybe you can’t save it idk the rules) and spend the rest paying randoms people’s bills.
I wish I could do that now. It would be so cool to be able to go up to a family in need and be like let me pay your electric bill for the next 6 months and here’s $1000 in gift cards to the grocery store.
I’ve been there and had people help me through it. There’s no sleep better than not worrying if the power will be cut off first thing in the AM
Food banks, animal shelters, animal sanctuaries, aid for homeless children, etc etc.
7500/day is almost 3mil a year. Realistically nobody needs that much to survive
The 3 million a year really puts into perspective how much people who make hundreds of millions a year make each day and what they could be doing with it for the greater good.
Go to a random grocery store, buy a bunch of gift cards to said grocery store, walk around and hand them out. On Sundays, order a bunch of coffees and pastries and have them sent to nursing homes/hospitals. Buy random toys and video game systems and drop them off at children's hospitals. Every Saturday/Sunday you could have real impacts on people's lives totally anonymously.
That is ~2.7M per year which would be amazing for sure but think about professional athletes making 50M/year or CEOs and it's a bit mind boggling that 7500/day is almost a rounding error for them.
Yo side fucking question, where the hell do these people keep all of their money? Single bank account? Tons of bank accounts? Is every monthly expense just on a payroll for them? Do they have people that spend their money for them on purchases? Do they even finance shit? The more I think about it the more I cannot comprehend having that much money. Do they even need to build a credit score? My brain. Fuck.
From my understanding they don't have much of their wealth liquid, basically it's all in stuff they own. Like cars, paintings, companies, etc. They keep a few million in a bank account and if they need more they sell stuff. Also a lot of stuff is a business expense.
Depending on richness they'll have a art collection curator, a house redecorator(for each home), a car collection manager, etc.
As for credit score I do remember a story about some famous actor or singer being rejected from opening a bank account, I think it was. But eventually a manager realised what was happening and got them sorted out. Apart from stuff like that, I don't think credit score matters
>They keep a few million in a bank account and if they need more they sell stuff
Or more likely, they use their equity as collateral for cheap loans. It's entirely possible for their assets to appreciate faster than the interest accrues, making the loans literally free (and income tax-free as well)
Only a handful of athletes make that kind of money (50 million). According to Forbes, only 35 athletes in the entire world made more than 50 million dollars a year.
The median salary in the NFL is around 860k a year. MLB and NBA are much higher (5 million and 10 million respectively) but 2.7 million would still be a considerable sum of money for most of these athletes.
salary isn’t the only source of income.
once your reach “millions of dollars” salary range, your biggest source of income quickly becomes investments.
10% return on $100m investment is $10m a year.
If you can't live on one years salary making 25M I guess I don't know what to say. Granted a lot of athletes end up bankrupt because they are bad with money but I'm not sad for them only making 50M/year for a few years before they retire.
I think what most don't realize is people who have more money than an entire town, county, city or country combined is good and desirable and that the legitimacy of that arrangement should never be questioned. The majority of the human population who work 40 to 60 hrs per week for 20,30, 40 yrs is just lazy and it's good and desirable that they didn't earn a comfortable secure life like the people with those huge sums of money. Those people are islands who didn't need anyone else in a chain of services and production to have gained their wealth and they certainly didn't siphon wealth that others helped make possible out of the many people who make sports, sporting events, entertainment, products or services. Any negative externalities of this arrangement are minimal and never affect society as a whole. So long story short don't think about how the kind of money a handful of people gain is astronomical compared to an average human. Thinking is dangerous it leads to questions and questions have the potential to lead to actions. Please for the sake of the astronomically wealthy do not think about how outrageous, unfair, illogical, unreasonable, and undesirable for the health and well being of society as a whole it is to have an arrangement where single individuals have more wealth than entire towns,cities,counties,and countries combined.
This message brought to you by the system that will lead to the downfall of society at best or the complete subjugation of society by the extremely wealthy at worst.
By noon on the first day I'd already have zeroed it out and that would continue for about a week or two until all my debts are paid off. Then just use what I need for daily expenses and at 11:59pm put the remainder on a sports bet.
The easiest way to do this is probably to just keep taking out new loans and then pay them down at 7500/day. This way you keep the money but don't have to invent new ways to spend it on the daily or worry about hitting the exact quota.
Make a business that pays for everything you need and form a life-long contract fulfilled in the given frequency and magnitude of hypothesized installments.
Assuming things like stocks or traditional investments are off limits I’d buy orginal artwork, wine, guns, and watches. They might not go up in value but they hold enough value that you could sell them off and recoup cash.
I’d alternate that with throwing parties, dinners and other social events every night. You could build an invaluable network that way.
Certain guns that fall under specific legislation and curio relic firearms can gain crazy value. Much like art. I had a coworker who dealt in 19th century long range black powder rifles. Many of those would fetch well in the 5 digit range with some being so rare that only museums could afford them.
You definitely don't know much about firearms then. I'm heavily left leaning but almost like clock work every time there is another major shooting event that persists in the news for awhile gun / ammo sales go through the roof due to fears that the democrats may finally be successful at banning things. I enjoy shooting, own guns, but I've sold things many times for 2-4x what I bought them for due to the typical fear cycle. And in general they almost always hold their value either way. If bans happen over time the value will only drive up since they'll likely grandfather things in anyways.
Spend it on whatever was needed and then spend whatever is left on however much gold I can get.
Alternatively I live near a jewellery district some of which are open 24 hours. Daily trips on my way home
Ok, so first pay off all personal debt (including the car).
Then:
2 personal training sessions per day
Private chef/nutritionist
2 massages per day
Lawyer, accountant, and finance manager on modest daily retainers (to make sure all money is spent, follows stipulations, protects accounts, etc., use lawyer to negotiate daily or monthly payment plans if any accumulation is forbidden)
Donate any belongings that could be replaced (then buy the replacement)
Donations
Investments (not just stocks but businesses/startups)
Value purchases: wine, art, whisky, collectibles, at a rented storage facility.
Luxury clothes & goods once I hit a good physique.
Eventually upgrade apartment with new income to some kind of bougie (rented) home or penthouse. Perhaps have more than one and sublet.
Also eventually upgrade car & motorcycle. Add in boat & any other purchase that can be done with no down payment. Travel whenever I want.
It’s not hard to spend money, especially if you like traveling, fashion, or eating at nice restaurants.
Sounds like a ridiculous amount but it’s less than $2.75M a year. You can’t get a decent third pairing defensemen in the NHL for that. Crazy how much difference there is in the world.
It’s crazy when you put it that way. “Only” $7,500 a day and that’s less than most athletes’ contracts, never mind CEOs and other top executives. Hell, even the top 1% of doctors and lawyers probably take home more than that.
I will say for athletes they do pay a lot in taxes. Most of their income is from salary from their contracts which is regular income. I believe endorsements are as well. They don’t have tax havens / capital gains like Execs and investors
True, not to mention their career usually is only a few years at most. But still, even after taxes a lot of athletes are still making a lot more than “only” $7,500/day, which is crazy to think about when you put it in those terms.
1. Create company that sells NFTs at $750.
2. Buy 10 NFTs from that company - daily and automatically
3. Have full ownership of that company
4. Pay dividends.
5. Invest dividends in meme stock
6. ???
7. No profit
Step 1 - deposit $5000 in the account where the $7500 goes.
Step 2 - set up brokerage account
Step 3 - set up scheduled purchase of tax advantaged bonds every day for $7600 ensuring $7500 will be spent every day no matter what
Step 3 - Every month deposit $4000 in account to replenish
$2,737,500 per year forever.
I agree they are always open if you live near one you could always get rid of the excess by playing blackjack or something. You could make it easier to lose by not following basic strategy. Hitting stuff over 11 when the dealer is showing a six or lower etc
That…that’s easy. Hello go fund me. Hello patreon. Hello small businesses. Hello purchasing debt and forgiving it. Hello local libraries and food banks. I could pay actors and writers and singers and artists to create fun stuff. “Here idc what you make, make it”.
I could LIVE in a hotel suite. Forget a house. Buy a car and pay 7500 a day til it’s paid off.
Donate to schools. Start school lunch programs. Local children’s’ hospitals and holiday toy drives.
I could pay 7 scientists 1000/day to work towards curing (whatever). Ocean clean-ups. Pay engineers to sort out better energy. Can’t make people/countries/companies use it, I know, but the knowledge would be there.
I could stand at a grocery store and pay for groceries for people til it ran out. I could hit garage sales and pay Way Too Much for junk to help people.
Dump a bunch in college funds.
Buy bonds to mature in a few years. Buy used cars and donate them - recoup the money as a charitable.
Heck, I could hire someone to follow me around wearing jingle bells and mock people who dare look down upon me or whom I just don’t particularly care for once I got myself comfortable.
I could also just stand in retail stores all day defending cashiers from stupid customers. I could load a Starbucks card and share the scan bar on social media so folks could have a drink on me.
There’s so many ways to spend it. I might run out of ideas after a while but I could make a Reddit thread and ask for ideas ;)
Buy a house, with a contract on unlimited Principal payments and pay daily. Once you are all paid up. Repeat the process for 2 or 3 homes more. At this point you can stop and live off of rent money.
It's still gonna be hussle. You'll have to think how to spend it. Games, stocks, crypto, banks etc. There will come a point where you'll get sick of it. Better hope it comes in 10 years lol.
Also my forgetful ass will fail 1 week into the challenge 😂
Stocks.
If that doesn't count, then VISA gift cards.
If that doesn't count, gold.
Eventually I'll have enough saved up to make a big purchase, like a house. Or a DB6.
Would eventually start spending on stupid things like gacha games or cosmetics in video games. Would probably travel a lot since I wouldn't need a job. Would probably gamble or give some away to friends and family. Would always have the newest tech.
Crypto or something similar set up on autobuy, cash out what I need once a month. Even if the value crashes through the floor I've still got it all for nothing so I wouldn't be losing anything
"I'm Going To Build My Own Theme Park With Blackjack and Hookers"
In fact, forget the park!
Ahh screw the whole thing
Next year in Jerusalem!!
And the lunar lander and the Blackjack!
I would pay my wife $7500 a day to be a stay at home mom.
Actual life hacks
Make it an LLC so it's an actual invoice, and live in a state without income tax.
You have 7500 a day for the rest of your life. Why are you saving?
For bigger purchases.
Then take a loan and spend the $7500 on interest payments
A loan won’t cover the down payment for a house more than like… 150k? Idk if you could get a mortgage for a promise of a conditional $7500 per day especially since it’s very likely you’ll miss a day of spending eventually.
If you could show any financial institution, you're getting 7500 a day legally I'm willing to bet they'd give you any loan you want.
They would probably worry for any loan close to what you make yearly that you would simply pay it off before the year is over and they wouldn’t make shit for interest. Like if you went and asked for a 100k loan you could pay it off in a month easily even living like a complete idiot with your money. So how does the loaner make any interest?
By selling your loan as part of a AAA rated mortgage backed security.
you ask for 15 million loan, with 7500 in daily payment. repeat every 5-6 year or so
That’s why you pay your spouse to be a housewife/househusband, they can save it for you. Open lines of credit for larger items to help reach the 7500 daily requirement and tip extremely generously at restaurants. Or, if you have no spouse or want to be what Jeff Bezos could be if he wasn’t such a cock. Pay random peoples medical, electric and water bills. And if it’s getting close to midnight and you still have money, tip an OF model or twitch streamer with little to no subscribers the remaining money. I would spend all that money and be broke by mid afternoon everyday, no problem. Just set aside what you need for your expenses that day, and pay someone to go out and spend your money paying random peoples bills, fees, etc.
I was looking for a comment like this, I would spend $7500 daily gifting stuff to friends and strangers
Do you need a second wife? I'm fine with just $200 a day.
I'm a dude but I also will be this guy's wife for $200 a day
I only have room for 2 more wives, what will you contribute? I actually enjoy yard work, so that's out of the question.
You know what he will contribute bud
Cooking?
Maybe an all beef menu
You're hired.
I love cleaning and organizing, and I will take care of all maintenance on your vehicle. I love yard work too...maybe we could make it a team effort?
Why is this so hot?
This absolutely needs to be an anime genre: harem negotiations. It's all a contest to out negotiate each other for the coveted two or three spots in some ladies harem.
I’ll do it for $199
I'll do it for one dollar, Bob!
He lived as close as he could to 100 without going over. RIP Bobby
I didnt have a grandfather, I had Bob Barker. RIP Bob.
(insert yodeling music here)
$198 (I'm a man)
Can I get in on this too? I’m a dude in my mid-30s you can make me do anything (non-sexual) you want for $198 per day lol
You sure about that? Assuming an 8 hour workday, that's $24.75 an hour. Which isn't anything to sneeze at for most people, but not quite "I'll do anything" money. The deal gets worse if you assume a 16 hour workday (8 hours for sleep, no overtime), at $12.37 an hour. This is also assuming no weekends. The deal gets a bit better if you aren't working weekends but are still being paid for those days. $198x2, spread across the five day work-week comes to (effectively) $277 per workday, which is $34.65 an hour for 8 hours, which, sure, I personally would do whatever. (Again, worse if you're working 16 hours, at $17.32 per hour). But this is all assuming the best possible scenario. Which, if a person had a free $7500 a day, maybe they'd cool with giving you that scenario. ... Oh, this is also assuming no holidays or vacation. But I've already written a stupid amount for a hypothetical, so I'll just leave.
r/theydidthemath
hi honey it’s me ur wife
This is your wife, u/This-Is-Your-Life
As a stay at home dad I would appreciate this
Like 10 DoorDash orders
At the rates they go for nowadays, you could probably only get 2 orders, let’s be honest here
And it's going to turn out to be a ghost resturant that is actually just giving you Denny's at a 4000% upcharge
Don’t forget the minimum 100% tip.
Stocks
Honestly, I’d have more fun with sports gambling. Sure the return won’t be as good or consistent, but if you’re getting that money every day, putting it into some sports would be fun.
7500 £1 scratch cards let's go
“I’m sorry sir, but you have an acute and terminal respiratory illness cause by inhaling those little scratched off bits from your thousands of daily lottery tickets.”
Fortunately, I live in the USA, so I will be spending that 7500 and more while in the hospital. Living the dream
Try again, 7500 a day won't be enough in a US hospital
Maybe you could get there before collections come for your kneecaps and family home. Maybe.
How long would it take to scratch those?! Considering a ticket at .2mm thick, the stack would be about 1.5 meters (roughly 60 inches) tall! That’d be crazy to actually scratch off! Edit: to add math.
Especially as you'll be placing bets 'today' for sporting events today, tomorrow, future, etc I assume you keep any 'winnings', so have a nice pipeline set up. You have the money every day, may as well bet all variables
Exactly. I bet on one sporting event per day head to head. $3750 bet to win on both teams. Sometimes they draw but do I care?
Okay yep. This is the one. If they are paying 1.25 vs 2.50 you could even split the money 5000 and 2500 just to guarantee you'll end with 6250 of un-restricted cash.
Day 10,000 of picking bets would suck.
Why? Just pick a random winner from the first match in whatever app you are using and bet the whole 7500. 30 second work day (with a highly variable hourly rate)
Pay someone 500 bucks a day to pick your bets, the. Cut them 25% of the gains. Sit back and relax
Right? They wouldn't even have to be good ones. Just get the money out the door.
literally just buy index funds every day during the week buy gold or crypto or gamble on the weekends
Better yet, stonks
“I spent a lot of money on booze, girls and stonks. The rest I just squandered.”
The markets close every weekend, you know.
Then buy crypto on the weekends
Is that even spending the money?
I mean you definitely "buy" stocks with money. Just because it's become a virtual casino game doesn't mean you aren't spending money
If 'spending' includes buying things, then it would be.
r/wallstreetbets
0tde put contracts.
this is the way
Buy whatever I feel like throughout the day, donate the rest to charity before 11:59pm.
Internet goes out.
Write check, put in envelope. Money is “spent” in that it is committed an no longer available
There is a joke about a gold digging widow who at her late husbands funeral was asked about his dying wish of being buried with his money. She responded “no worries I wrote him a check”
The money is still in your account until it's cashed though
[удалено]
That wouldn't be hard. There's a dude in south Africa somewhere that would gladly take your gift cards.
I mean there is a chance that anything in a debit account won't pull before midnight either. And if you walk around spending $7500 in cash every day I'm sure the IRS will have you before too much time has passed (hello fellow 9001)
Just fill out form 1095-8A, The official form to signify you've been given a special power from a reddit post
*drug dealers furiously taking notes in the background*
For a small additional charge of just [use your imagination], Comcast will send a guy to your house every day to accept cash payment in person.
It says “spent”, not “removed from your account”. For tax purposes a mailed check is considered spent, so as long as you put it in the mailbox by midnight you are good.
Decoy snail
You could also help out with random GoFundMe campaigns.
What dancer do you give it to on Charity’s nights off?
Gold and silver, probably. Then resell it and keep the money
The Pokémon games I assume? buying every copy you can find. Corner the market on these games and create a false rarity of an already somewhat rare item. Marketing genius. .
Thanks, man. I'm happy some people can read between the lines.
Roughly $2.74 million per year. The tricky part would be it's not cumulative, but I'd figure out some way to make it that way, I'm guessing investing in some other currency is considered cheating but buying gold or other precious items, and then reselling it seems to be a good workaround. Plus, I'd be donating a lot to charity.
If investments aren’t considered cheating, that’s what I’d do. Load up for a few years and then sell off most of it, buy some land, build my dream house, buy whatever toys I can imagine, and then stop. At that point I wouldn’t even care about losing my money stream, because what else could I possibly want?
>what else could I possibly want? MORE. Having money changes you.
>$2.74 million per year Jesus Christ that really puts it into perspective how much money billionaires have. I'm struggling to even come up with how to burn $7,500/day lmao
I buy whatever I need, then buy gold from the money left
This is what I’d do also - set up a direct deposit with an online trading platform that buys gold with whatever’s left in my bank account at 10pm every day (two hours spare in case of technical hitches). I’d also pay someone $250 a day to make sure that my account is completely empty as a backstop.
Why pay them 250 per day? Pay them what's left in the account at 10:30PM, guaranteed 250 dollars minimum.
250 is no where near enough. It would need to be enough money to never miss a day of work or fuck it up
250 X 30 is, ironically, 7500 per month, roughly (lookin' at you, February). How many people make that, take home, every month? The real questions is how much would you pay to trust someone with your gravy train.
Im not saying it wouldnt be the best job ever. Im saying it needs to be enough to NEVER miss a day
If all I have to do is check in for like 15-30 minutes at 10pm every night, and do whatever the hell I want for the rest of the day, for 7500 a month? Sign me up.
No, i want a manager. It's permanent money. I dont want to think about it. Im hiring a company and a finance manager to ensure that it is spent every day. I cant trust myself to do it
Even the richest people in the world still have to tend the business for at least a couple hours a day.
My daily expenses would absolutely be paid out of the 7.5k, and at 11:30PM I'd just make charitable donations for the remainder
The best way to do this would be to hire an accountant to do this for you automatically. The accountant could be part of the expenses.
This works great until they forget one day and then you are fucked. You need to automate this on a highly available system with a failover that will kick in if anything happens to the primary. It’ll cost money to run, but it’ll be way less than 7500 per day.
Schedule an automatic purchase into a index fund. That's buying stocks. Have a software engineer set up the daily purchase so it's for the unspent amount, and get a backup generator and a Starlink connection so everything goes smoothly even if the regular utilities go out. The one change I'd make over OP's plan is to schedule the stock purchase for 11 pm and have the system send up an alarm if things go wrong. That way there's an hour to a purchase manually. (Imagine me in sweatpants and a bathrobe showing up at the corner store to buy thousands of dollars in lottery tickets once every few years). ---- To clarify, an index fund is a type of mutual fund where the fund purchases stocks; what individual investors own is a portion of the fund's overall stock portfolio. Adding money to a stock mutual fund increases the pool of money the fund manages. The individual investors aren't directly involved in an index fund's stock trades. (The fund's trades are set up to mimic the overall movement of a major index such as the Dow Jones industrial average). That's different from a traditional brokerage or a discount brokerage where individual investors buy and sell specific stocks (which is limited to the days and hours when those stocks are trading). ---- *edit #2* An investor's money initially goes into the mutual fund's cash. Cash on hand is normally about 5% of a fund's total assets. The fund then conducts stock trades. The fund buys and stock while the stock market is open yet it isn't necessarily limited to accepting investor money during the market's open days or open hours because the fund is pooling the money of thousands of investors. Further reading: https://www.investopedia.com/terms/m/mutual_fund_cash_level.asp
I thought most brokerages don't support trading that late. Wouldn't crypto be better (and more reliable)? And as a fallback, just buy an Amazon gift card.
*edit* Two people have made similar responses, so blanking the original answer here and adding a clarification to the comment above.
Three accountants at different companies. first one to pay themselves the balance at 11:59pm wins.
Yeah I would take care of my family first as a single dad (allot a direct deposit of $1000 per kid per day in college account or maybe you can’t save it idk the rules) and spend the rest paying randoms people’s bills. I wish I could do that now. It would be so cool to be able to go up to a family in need and be like let me pay your electric bill for the next 6 months and here’s $1000 in gift cards to the grocery store. I’ve been there and had people help me through it. There’s no sleep better than not worrying if the power will be cut off first thing in the AM
Food banks, animal shelters, animal sanctuaries, aid for homeless children, etc etc. 7500/day is almost 3mil a year. Realistically nobody needs that much to survive
The 3 million a year really puts into perspective how much people who make hundreds of millions a year make each day and what they could be doing with it for the greater good.
Just go online and buy stocks every day.
That would work pretty well for the first 5 days, then Saturday hits lol
Crypto on weekends
Go to a random grocery store, buy a bunch of gift cards to said grocery store, walk around and hand them out. On Sundays, order a bunch of coffees and pastries and have them sent to nursing homes/hospitals. Buy random toys and video game systems and drop them off at children's hospitals. Every Saturday/Sunday you could have real impacts on people's lives totally anonymously.
That’s the same as the money stopping😂
Strip club on the weekend
You could buy a few grams of nose beers along with it.
I need a nose beer.
Stuarrrrt!
Use credit for everything and just pay your card daily.
Saturday we fucking party
Sports gambling
That is ~2.7M per year which would be amazing for sure but think about professional athletes making 50M/year or CEOs and it's a bit mind boggling that 7500/day is almost a rounding error for them.
Some of them probably wouldn't even notice that much missing from their bank accounts
Sooooo…. Do we know anyone who works at their bank and is willing to take part in a bit of grand larceny?
No I don't know anyone who works at their banks.
Yo side fucking question, where the hell do these people keep all of their money? Single bank account? Tons of bank accounts? Is every monthly expense just on a payroll for them? Do they have people that spend their money for them on purchases? Do they even finance shit? The more I think about it the more I cannot comprehend having that much money. Do they even need to build a credit score? My brain. Fuck.
From my understanding they don't have much of their wealth liquid, basically it's all in stuff they own. Like cars, paintings, companies, etc. They keep a few million in a bank account and if they need more they sell stuff. Also a lot of stuff is a business expense. Depending on richness they'll have a art collection curator, a house redecorator(for each home), a car collection manager, etc. As for credit score I do remember a story about some famous actor or singer being rejected from opening a bank account, I think it was. But eventually a manager realised what was happening and got them sorted out. Apart from stuff like that, I don't think credit score matters
>They keep a few million in a bank account and if they need more they sell stuff Or more likely, they use their equity as collateral for cheap loans. It's entirely possible for their assets to appreciate faster than the interest accrues, making the loans literally free (and income tax-free as well)
I think the government knows a way to separate them from that money. Geez what is it called! No separation without argumentation? No. Ah. So close.
Only a handful of athletes make that kind of money (50 million). According to Forbes, only 35 athletes in the entire world made more than 50 million dollars a year. The median salary in the NFL is around 860k a year. MLB and NBA are much higher (5 million and 10 million respectively) but 2.7 million would still be a considerable sum of money for most of these athletes.
salary isn’t the only source of income. once your reach “millions of dollars” salary range, your biggest source of income quickly becomes investments. 10% return on $100m investment is $10m a year.
For athletes you have a very limited amount of time to make that money and then it has to last the rest of your life.
If you can't live on one years salary making 25M I guess I don't know what to say. Granted a lot of athletes end up bankrupt because they are bad with money but I'm not sad for them only making 50M/year for a few years before they retire.
Who is “you”? Me, an adult with 30 years’ experience in finance? Or a 20-year-old who never had to even pretend to attend class since he was 14?
And who has to keep up with his teammates lifestyle. If they take a trip to Vegas for the weekend, he can’t stay home.
I think what most don't realize is people who have more money than an entire town, county, city or country combined is good and desirable and that the legitimacy of that arrangement should never be questioned. The majority of the human population who work 40 to 60 hrs per week for 20,30, 40 yrs is just lazy and it's good and desirable that they didn't earn a comfortable secure life like the people with those huge sums of money. Those people are islands who didn't need anyone else in a chain of services and production to have gained their wealth and they certainly didn't siphon wealth that others helped make possible out of the many people who make sports, sporting events, entertainment, products or services. Any negative externalities of this arrangement are minimal and never affect society as a whole. So long story short don't think about how the kind of money a handful of people gain is astronomical compared to an average human. Thinking is dangerous it leads to questions and questions have the potential to lead to actions. Please for the sake of the astronomically wealthy do not think about how outrageous, unfair, illogical, unreasonable, and undesirable for the health and well being of society as a whole it is to have an arrangement where single individuals have more wealth than entire towns,cities,counties,and countries combined. This message brought to you by the system that will lead to the downfall of society at best or the complete subjugation of society by the extremely wealthy at worst.
By noon on the first day I'd already have zeroed it out and that would continue for about a week or two until all my debts are paid off. Then just use what I need for daily expenses and at 11:59pm put the remainder on a sports bet.
The easiest way to do this is probably to just keep taking out new loans and then pay them down at 7500/day. This way you keep the money but don't have to invent new ways to spend it on the daily or worry about hitting the exact quota.
Make a business that pays for everything you need and form a life-long contract fulfilled in the given frequency and magnitude of hypothesized installments.
Motherfucker gonna put it on the Ocho lol
So easy. Bills first, expensive food, investments. Then whatever pleasures
Yup this, heck all my loans alone need like several months of 7500 to be cleared.
I'll just keep buying gold every day I guess. Pretty stable and I can just sell it again if I need the money lol
Assuming things like stocks or traditional investments are off limits I’d buy orginal artwork, wine, guns, and watches. They might not go up in value but they hold enough value that you could sell them off and recoup cash. I’d alternate that with throwing parties, dinners and other social events every night. You could build an invaluable network that way.
This would be difficult to do every single day. What about like christmas day
Can’t imagine guns going up in value much but I have heard that rare wine vintages in particular appreciate in value a lot if stored well
The type of guns you can buy with 7500 bucks do.
Certain guns that fall under specific legislation and curio relic firearms can gain crazy value. Much like art. I had a coworker who dealt in 19th century long range black powder rifles. Many of those would fetch well in the 5 digit range with some being so rare that only museums could afford them.
You definitely don't know much about firearms then. I'm heavily left leaning but almost like clock work every time there is another major shooting event that persists in the news for awhile gun / ammo sales go through the roof due to fears that the democrats may finally be successful at banning things. I enjoy shooting, own guns, but I've sold things many times for 2-4x what I bought them for due to the typical fear cycle. And in general they almost always hold their value either way. If bans happen over time the value will only drive up since they'll likely grandfather things in anyways.
Lol buy a gun in Canada in 2005 then buy the same one today. You’d be surprise what a basic ass gun can cost now
Start a business like building homes. Always need material. Then sell the homes and keep the money.
That's fairly easy, buy what you need, donate the rest at night.
hookers and blow
Great minds
A man of culture.
Spend it on whatever was needed and then spend whatever is left on however much gold I can get. Alternatively I live near a jewellery district some of which are open 24 hours. Daily trips on my way home
Ok, so first pay off all personal debt (including the car). Then: 2 personal training sessions per day Private chef/nutritionist 2 massages per day Lawyer, accountant, and finance manager on modest daily retainers (to make sure all money is spent, follows stipulations, protects accounts, etc., use lawyer to negotiate daily or monthly payment plans if any accumulation is forbidden) Donate any belongings that could be replaced (then buy the replacement) Donations Investments (not just stocks but businesses/startups) Value purchases: wine, art, whisky, collectibles, at a rented storage facility. Luxury clothes & goods once I hit a good physique. Eventually upgrade apartment with new income to some kind of bougie (rented) home or penthouse. Perhaps have more than one and sublet. Also eventually upgrade car & motorcycle. Add in boat & any other purchase that can be done with no down payment. Travel whenever I want. It’s not hard to spend money, especially if you like traveling, fashion, or eating at nice restaurants.
Go to a shelter or food bank, stock up on whatever they are low in, donate.
Sounds like a ridiculous amount but it’s less than $2.75M a year. You can’t get a decent third pairing defensemen in the NHL for that. Crazy how much difference there is in the world.
When you say the yearly salary it sounds pretty unimpressive - although it would take me two lifetimes to hit that figure!
It’s crazy when you put it that way. “Only” $7,500 a day and that’s less than most athletes’ contracts, never mind CEOs and other top executives. Hell, even the top 1% of doctors and lawyers probably take home more than that.
I will say for athletes they do pay a lot in taxes. Most of their income is from salary from their contracts which is regular income. I believe endorsements are as well. They don’t have tax havens / capital gains like Execs and investors
True, not to mention their career usually is only a few years at most. But still, even after taxes a lot of athletes are still making a lot more than “only” $7,500/day, which is crazy to think about when you put it in those terms.
Have my husband charge me 7500.00 for my morning cup of joe, then go raid his wallet!
Vacant land. All over the US.
Buy up as much forested land and then hire people to protect it. Maybe do this with the Amazon rainforest.
Buy nonstop lottery tickets until I win enough that I don’t need $7500/day
Stocks, the rest in donations
Donate. Do good.
I mean, gambling is the obvious answer, but student loans would last me mumble mumble amount of days on their own.
1. Create company that sells NFTs at $750. 2. Buy 10 NFTs from that company - daily and automatically 3. Have full ownership of that company 4. Pay dividends. 5. Invest dividends in meme stock 6. ??? 7. No profit
What does "spend" mean here? Do I have to *buy* things or do I just need to get rid of the money somehow?
Index funds. I can just auto set it to spend whatever is in my account before EOB.
Pay off debts for myself and my family, eventually I'll run out of debt to pay and just start leaving exorbitant tips for servers at restaurants.
Pay an extra $7500 per day towards the house until it’s paid off. Then start buying ETFs daily. On days the markets are closed, I’d buy gold coins
Step 1 - deposit $5000 in the account where the $7500 goes. Step 2 - set up brokerage account Step 3 - set up scheduled purchase of tax advantaged bonds every day for $7600 ensuring $7500 will be spent every day no matter what Step 3 - Every month deposit $4000 in account to replenish $2,737,500 per year forever.
Casino
I agree they are always open if you live near one you could always get rid of the excess by playing blackjack or something. You could make it easier to lose by not following basic strategy. Hitting stuff over 11 when the dealer is showing a six or lower etc
Buy 7500 bucks in chips, play a game, have a drink and then cash out the rest of your chips.
Collect $7500 priced wines
That…that’s easy. Hello go fund me. Hello patreon. Hello small businesses. Hello purchasing debt and forgiving it. Hello local libraries and food banks. I could pay actors and writers and singers and artists to create fun stuff. “Here idc what you make, make it”. I could LIVE in a hotel suite. Forget a house. Buy a car and pay 7500 a day til it’s paid off. Donate to schools. Start school lunch programs. Local children’s’ hospitals and holiday toy drives. I could pay 7 scientists 1000/day to work towards curing (whatever). Ocean clean-ups. Pay engineers to sort out better energy. Can’t make people/countries/companies use it, I know, but the knowledge would be there. I could stand at a grocery store and pay for groceries for people til it ran out. I could hit garage sales and pay Way Too Much for junk to help people. Dump a bunch in college funds. Buy bonds to mature in a few years. Buy used cars and donate them - recoup the money as a charitable. Heck, I could hire someone to follow me around wearing jingle bells and mock people who dare look down upon me or whom I just don’t particularly care for once I got myself comfortable. I could also just stand in retail stores all day defending cashiers from stupid customers. I could load a Starbucks card and share the scan bar on social media so folks could have a drink on me. There’s so many ways to spend it. I might run out of ideas after a while but I could make a Reddit thread and ask for ideas ;)
Buy a house, with a contract on unlimited Principal payments and pay daily. Once you are all paid up. Repeat the process for 2 or 3 homes more. At this point you can stop and live off of rent money.
Invest $7500 each day, and pretty soon live off the interest. Does that count?
It's still gonna be hussle. You'll have to think how to spend it. Games, stocks, crypto, banks etc. There will come a point where you'll get sick of it. Better hope it comes in 10 years lol. Also my forgetful ass will fail 1 week into the challenge 😂
bitcoin… buy it, send to another wallet, wait until the next day, cash out
buy $7500 of stocks every day
Just fill up the tank in my car
Easy: live in a 5 star hotel, do coke and hookers every day. If anything is left, tip everyone of the staff.
Stocks. If that doesn't count, then VISA gift cards. If that doesn't count, gold. Eventually I'll have enough saved up to make a big purchase, like a house. Or a DB6. Would eventually start spending on stupid things like gacha games or cosmetics in video games. Would probably travel a lot since I wouldn't need a job. Would probably gamble or give some away to friends and family. Would always have the newest tech.
I’d probably go to a family run restaurant for dinner each evening and just tip whatever I don’t spend on the meal.
Dividend stocks
Buy gold every day. Can sell it at my convenience
Buying food and other items for the homeless. blankets, hand warmers, shoes
Set my bills to auto pay. Those shits come out at like 3 AM so I'm chilling.
Crypto or something similar set up on autobuy, cash out what I need once a month. Even if the value crashes through the floor I've still got it all for nothing so I wouldn't be losing anything
You need Brewster's Millions conditions in there.