If you were to get $3 million USD dollars right now, would you drop your business/start up idea? $3million is not a lot now since a home is already average about $1 million and more in desirable cities. Would you take the $3million, live off interest and investments and travel or what ever you want to do or would you still start your business and toil for a business that may or may not be successful? What are some factors contributing to your decision?
Nope. Would close it all down. Not because I don’t love my business, but because put in the right places that 3 million dollars is a shit ton of money. Even just sitting in a 5% high interest savings account, that’d send you back 150,000 dollars a year in interest if you never touched the principle, in a diversified asset across stocks, real estate, etc it could potentially do better.
If you never touched the money and left it at 5% returns and reinvested the interest, you’d be at 4.8 mil within 10 years.
If I got that amount of money, I’d sell my business (or if it was worth nothing just close it down), use the minimum deposit possible to purchase my house with a mortgage or purchase property in a cheaper country abroad that I’d like to live in, allow the interest rates from the savings to outperform my mortgage costs, get a full time job for a few years to allow me to not touch the original cash as much as possible and when at a point that the interest outperforms any PAYE employment I qualify for? Retire, paint, write and let the days go by.