Would you take $1 million only to never be able to go to Disney again?

[Crockett]

One can not judge intention by desire. I chose to answer yes because there are individuals and institutions for whom my heart cries out, and a million dollars would serve to help them all beyond impossible circumstances. I couldn't care less about receiving the money for myself (really), but that money could help people that need it badly. My joy would come from their relief, rather than any personal gain. Their deliverance would be worth the sacrifice of never seeing WDW again. Life is made up of more than our individual worth.

^You sir, I have much more respect for & envy more than the retiree with wealth of any magnitude.

 

[rsoxguy]

^You sir, I have much more respect for & envy more than the retiree with wealth of any magnitude.

I am nobody.

 

[Wilt Dasney]

The real question should be would you choose something like $800million or Disney. Then I would say yes, I'd give up Disney world cause I could still go to DL, DLP, DLT, etc and get my fix

The question never specified Disney World. It asked if you'd take the money to never visit a Disney park again.

 

[Phonedave]

Wow, here you can get a nice little place for around 110-115.

That would not get you a studio condo here.

A "nice little place" such as a cape or ranch on a 50x100 lot is going to run you $290,000 - if you are lucky. A more realalistic starting price in $325,000. Then throw in the $8,000+ a year property taxes.

However, I would not even have to think about it. Give me the money.

While my kids and I enjoy Disney immensly, there is also so much more we want to do in life.

An extra million, at my point in life (40) allows me plenty of time to continue working, make some sound investments that will easily pay for my kids college, will allow some VERY nice vacations to other places, and will allow me to retire comfortably, and at and age when I can still enjoy it.

-dave

 

[erasure fan1]

If its a mil after taxes than I think I would have to say yes.

 

[lebeau]

Your idea of what one meelion dollars will buy you sounds slightly Dr. Evilish. :drevil:

That said, I'd take the money. I love Disney, but not that much! I've been. For one million, I don't need to go back.

Heck, I could be bought for a lot less than that.

 

[twinnstar]

I always say to my fellow that if we win the lotto, the very first thing im doing is joining DVC - Sooo....i wont be taking that million :lol:

 

[ariel90]

Are we talking no taxes because with that it's not very much. Right now it'll do away tuition but not enough not to work and retirement is so far away. So 1 million simply is not worth it.

 

[E P C O T]

Void.

 

[sbkline]

That would not get you a studio condo here.

A "nice little place" such as a cape or ranch on a 50x100 lot is going to run you $290,000 - if you are lucky. A more realalistic starting price in $325,000. Then throw in the $8,000+ a year property taxes.

Geez, now I'm REALLY starting to feel like I live in the old piano crate in the back alley! :ROFLOL:

 

[wizards8507]

$1,000,000 after taxes would net you about $670,000 (and would vary from state to state). $670,000 at around 5% interest (again, after taxes) would net you about $33,500/year. While that may be retirement money, it's definitely not comfortable retirement. You'd eat into the principle, for sure.

Gifts aren't taxable to the recipient.

 

[GenerationX]

Gifts aren't taxable to the recipient.

It's not a gift. The premise is that you are given $1,000,000 for some consideration, which in this case, is a promise not to go to WDW. Taxable.

 

[Crockett]

I'd tell the 1mil to shove it, and follow this guy's philosophy: (you may have heard of him)
"Why do we have to grow up? I know more adults who have the children's approach to life. They're people who don't give a hang what the Joneses do. You see them at Disneyland every time you go there. They are not afraid to be delighted with simple pleasures, and they have a degree of contentment with what life has brought - sometimes it isn't much, either." -Walter Elias Disney

I'm not dissing the idea of planning for retirement. Hell, I'm saving for it; we all should. But when we sacrifice the things which make us the happiest for the allmighty buck, then we become slaves. Not preaching, just my two-cents.

 

[sbkline]

It's not a gift. The premise is that you are given $1,000,000 for some consideration, which in this case, is a promise not to go to WDW. Taxable.

A couple things here:

In order for it to be legal "consideration", there would have to be a formal contract signed. But even then, we could debate as to whether it would be a legally binding contract. I do know that courts do not enforce contracts that they deem to be a violation of a person's rights. Now whether they would view the condition of "never again going to WDW" as an enforceable contract, I'm not sure.

But if it's just a verbal agreement where you on on your honor to uphold your end of the bargain, I don't see how there could be any kind of way to make the government aware that 1,000,000 was given. For example, take my Dad. He thinks we shouldn't be going to WDW every year (he disapproves of taking annual vacations, as he thinks we should be saving back our money to give to the kids when we croak, and he disapproves of WDW in particular). So let's say he has that kind of money and offers it to me if I never go to WDW again. I take that check and cash it, but unless there is a W-2 or some other tax statement involved, how is the IRS gonna know that I came into a million dollars. Perhaps I should technically report it for taxes, but no one is the wiser if I don't (like you're not supposed to pool hop but people do it all the time).

 

[joannecasey]

I'd tell the 1mil to shove it, and follow this guy's philosophy: (you may have heard of him)
"Why do we have to grow up? I know more adults who have the children's approach to life. They're people who don't give a hang what the Joneses do. You see them at Disneyland every time you go there. They are not afraid to be delighted with simple pleasures, and they have a degree of contentment with what life has brought - sometimes it isn't much, either." -Walter Elias Disney

I'm not dissing the idea of planning for retirement. Hell, I'm saving for it; we all should. But when we sacrifice the things which make us the happiest for the allmighty buck, then we become slaves. Not preaching, just my two-cents.

Love this !

 

[Monorail Lime]

I would take the million for a few reasons:

I am a 26 year old male and about to start a life with my girlfriend of 3 years. Considering I have substantial student debt, and do not currently own my own home I would almost be forced to take the million dollars. This would place myself, and my future family, in a more comfortable financial situation.

You are young and you don't have any home-related expenses? It sounds like your financial situation is already comfortable. :lol:

You still have time to set a few bucks aside from each paycheck to fund an IRA and 401k and easily be a millionaire by retirement. Getting a retirement seed started early is the most important consideration; you can take your time with the student debts as long as your interest rate is reasonable. Have a solid yet reasonable financial plan and don't rush into home ownership or children until you are ready for it. If you do this, you shouldn't need that hypothetical million dollars.

 

[Phonedave]

I'd tell the 1mil to shove it, and follow this guy's philosophy: (you may have heard of him)
"Why do we have to grow up? I know more adults who have the children's approach to life. They're people who don't give a hang what the Joneses do. You see them at Disneyland every time you go there. They are not afraid to be delighted with simple pleasures, and they have a degree of contentment with what life has brought - sometimes it isn't much, either." -Walter Elias Disney

I'm not dissing the idea of planning for retirement. Hell, I'm saving for it; we all should. But when we sacrifice the things which make us the happiest for the allmighty buck, then we become slaves. Not preaching, just my two-cents.

Ah, but there is the rub.

Disney parks make me happy. But there are other things that make me happier - PLENTY of other things. Having $1M extra would more than offset the happiness lost by being banned from WDW by providing a variety of other, richer, experiences than our yearly trip to WDW.


-dave

 

[wizards8507]

Disney parks make me happy. But there are other things that make me happier - PLENTY of other things. Having $1M extra would more than offset the happiness lost by being banned from WDW by providing a variety of other, richer, experiences than our yearly trip to WDW.

That there is blasphemy in these parts, friendo.

 

[ddbowdoin]

You are young and you don't have any home-related expenses? It sounds like your financial situation is already comfortable. :lol:

You still have time to set a few bucks aside from each paycheck to fund an IRA and 401k and easily be a millionaire by retirement. Getting a retirement seed started early is the most important consideration; you can take your time with the student debts as long as your interest rate is reasonable. Have a solid yet reasonable financial plan and don't rush into home ownership or children until you are ready for it. If you do this, you shouldn't need that hypothetical million dollars.

I want the hypothetical 1million now haha... not for retirement. Thankfully I am gainfully employed, and for a strong firm with great benefits. Not to boast, but at 26 I have 38K in my 401K... they match us up to 6% and give us an annual gift of 10% of our salary into the account. Guess thats the benefit of working for a hedge fund

 

[sublimesting]

So, could I still get in with this?