Borrowing a $$million to invest ....
By patootie
@patootie (3592)
May 22, 2007 3:53am CST
While replying in another discussion I had a thought about borrowing money to invest (again) .. what if we could borrow a $$million for a year and a day .. not to spend any of it (hard I know) .. but to have it to invest as wisely as we could .. then at the end of the year and a day we would pay back the original $$million and keep all the interest we had managed to accrue ...
I am sure some folks would play safe and just put the money in a lower yield but safe building society .. some would try the higher interest investment route .. I doubt many would dare to risk stocks and shares other than Gilts .. as of course you'd have to have all the original money to pay back .. and a year isn't really long enough to make much with shares is it ..
But how would you try and make the money grow ??
PS .. Do you know, I once wrote to a very famous ££millionaire and asked if I could borrow one of his many millions .. I actually got a reply too .. sadly not from Paul McCartney (giggles, how daring of me) .. but from his 'office' .. they informed me that this kind of 'loan' was not possible under the laws of the UK .. something to do with taxes, gifts and declared income if I remember rightly .. but they congratulated me for trying to think of ways to make money other than earning it hahahaha ...
5 people like this
10 responses
@wolfie34 (26771)
• United Kingdom
23 May 07
I bet Paul is glad he didn't give you that million my friend, seeing as that he's going through a messy divorce lol! Mind you to him a million pounds is probably petty cash, good on you for writing to him, well, if you don't ask you don't get. Personally, I would love the chance to see how much I could make if I had the chance, anyone out there got a million to spare wink wink!
1 person likes this
@TDonald (1421)
• United States
23 May 07
What would be the advantage to the lender? They would lose the interest on their own money.
What you are really looking for is a donation. Why not just ask them to give you what you think you might earn and save the trouble.
@patootie (3592)
•
23 May 07
This is true enough .. which is why Paul McCartney (still happily maried to Linda when I asked him) .. and his financial team couldn't lend me the money even had they wanted to ...
It's just that I thought it could be a 'fresh approach' to 'doing something for myself' .. that perhaps a potential sponsor would see I wanted to 'work' for the money, not just cheekily expect a hand out ..
You never know sometimes the 'unexpected' requests just gets answered .. in another country it might just work .. but not here in the UK because of our stringent financial rules ..
@calvin222 (1606)
• India
22 May 07
Maybe i can borrow a million from you and let you know the results of the investing after a year?
1 person likes this
@sweetlady10 (3611)
• United States
22 May 07
WOW Patootie, it is great that you did really write, I appriciate it.
One year is a very short duration to invest any amount of money. As it is specially about a million you should give us little more time than one year lol.
I think we should not take risk with that much amount of money, specially when we have so less time to return it. I would like to invest it for very sure and risk less stuff. Like I can buy some cds from my bank of paying high interest for may be almost 10 months. May be after that I can put a little money on risky investment like stock.
1 person likes this
@efreddy (250)
• Belgium
22 May 07
Who do you think should borrow you this money?
You can only borrow so much money if you don't really need it,a bank for example borrows you a raincoat when the sun are shining but asks you to give it back as soon it begins to rain.
@patootie (3592)
•
23 May 07
Many ££millionaire gives vast sums of money to charity every year .. and it's just possible they may be interested enough to give a 'poor girl' a chance to make some money for herself at no 'real loss' to themselves ..
And I would be handing the original loan back intact .. you never know until you ask .. life is full of suprises ..
@polachicago (18716)
• United States
22 May 07
I would never do it. I have small investment and it is growing just about few dollars per month but....I can sleep at night.
Years ago, I made some money for my house down payment, I have no knowledge of stock market, but I always use my instincts and I am always right...
I would never borrow much more money…my house mortgage is more than enough..to pay back….
Millionaires are using “other people money” for sure…so maybe you can try….:)))
@patgalca (18391)
• Orangeville, Ontario
22 May 07
Well, God bless you for trying. I wonder if the same laws apply in the U.S. (would anyone want to approach Oprah?) or Canada.
I think real estate might be an option as far as investing. The price of houses around here has skyrocketed and if you are accumulating money through rent on top of that, I think I would invest part of it in real estate and then find a high yield safe investment form.
I should talk to my husband about this. He may actually want to try it. LOL!
1 person likes this
@sigma77 (5383)
• United States
22 May 07
I have no doubts I could trade a million into two million at least, within a years time. I would give back the first million and have the profits to work from. I would spend as little as I have to. Once I got to two million on my own, I would begin to spend some more on things I want. But I would always keep much of it for saving and investing and trading capital.
1 person likes this
@patootie (3592)
•
23 May 07
I've always been told the first ££million is the hardest to make .. after that .. well the worlds your oyster ... I am not confident to trade .. but I am good at getting the very last fraction of interest on my money (what tiny bit I have .. sigh) .. and I regularly move my little nest egglet .. following the interest rate moves ..
