You're a hollywood actor who just got paid 5 million for a role

Firespawn
Firespawn

You're a hollywood actor who just got paid 5 million for a role. What do you do with it so you never have to work again

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https://www.youtube.com/watch?v=eikbQPldhPY
LuckyDusty
LuckyDusty

Three words: oversees tax structure

CouchChiller
CouchChiller

Buy a house in Barbados for 1-2 million. Probably keep a few 100k for living expenses and fun money. The rest into the market, allocation depending on my age.

Proceed to live there until I die.

Ez

BinaryMan
BinaryMan

getting paid 5 mill for a role
implying I won't accept more high paying roles

Acting is not even that difficult, just memorization and maybe exercise

People will act for free as a hobby

CodeBuns
CodeBuns

@Firespawn

Protip: actors that make it to the top, genuinely enjoy acting and will continue to do it no matter how rich they get.

StrangeWizard
StrangeWizard

@BinaryMan
gr8 b8

takes2long
takes2long

@CodeBuns
David Cross

massdebater
massdebater

@CouchChiller
Enjoy after-tax payment of 2.8m - buy 2m house and keep 200k for living and fun... and invest 600k in market?

I don't like your chances never working again.

Illusionz
Illusionz

how do i become the next robert downey jr :(?

Stupidasole
Stupidasole

Invest in a high-yield and high-quality diversified bond fund. $5 million would get you at least $100,000/year in low risk income for as long as you want

whereismyname
whereismyname

@Stupidasole
oh and make sure it's municipal, municipal bonds are tax-free

Harmless_Venom
Harmless_Venom

@Firespawn
What I don't get is that alot of these world-famous actors are only worth 5-20 million.

So you've got zero privacy, the news reports on how many times you took a poop today, you get harassed everywhere you go and can never relax all for the salary of a moderately successful banker.

Deadlyinx
Deadlyinx

@Firespawn
Buy an annuity to pay for your "basic monthly lifestyle expenses" then invest in managers, publicists and acting lessons to get your next big role.

TalkBomber
TalkBomber

@Harmless_Venom
How much do you think bankers actually make? Just curious. I work in DCM as a MD and only take home about $320,000 after taxes in salary. Options and commission bring it to just under $600k though.

Need_TLC
Need_TLC

Donate 50+% to the government or they will throw you in jail, firstly.

And there's more things you can do than retire and spend your money like a nigger. I hear somolia has a massive mercenary industry and that sounds pretty fun.

Carnalpleasure
Carnalpleasure

@Illusionz

lots of cocaine

Raving_Cute
Raving_Cute

@TalkBomber
Someone who makes a million dollars a year after taxes is posting on Veeky Forums.
Holy shit

PackManBrainlure
PackManBrainlure

@TalkBomber
starving artist here, can u let me borrow 10k to be paid in 5 years? no banks will let me borrow that much

Emberfire
Emberfire

@Firespawn
Put 5 million in the SPY.
Sell 2400 covered calls a year.
Make 1.5 mil a year and do whatever the fuck I want with the remaining 364 days a year.

Ignoramus
Ignoramus

@CodeBuns
@takes2long
Marlon Brando

Crazy_Nice
Crazy_Nice

@Ignoramus
well brando loved it but got bored of it.

MPmaster
MPmaster

@Firespawn
5million for a role
take 25% off for your agent
10% for your lawyer
10% for your accountant
5-15% for your publicist
Actors get fucked in these situations.

King_Martha
King_Martha

@MPmaster
>>10% for your lawyer
>>10% for your accountant
>>5-15% for your publicist
they don't get percentages of your earnings you pay them their wage and that's it

plus most actors don' have a publicist or an accountant

t. actor

girlDog
girlDog

@King_Martha
The big ones do. After making seven figures a year you need an accountant to help you manage your accounts.

CouchChiller
CouchChiller

@Harmless_Venom
It's even worse if you think than a banker will spend his money how he wants it and if he has a family he will invest towards even more financial security, while an actor is compelled to blow up his money on useless luxury to mantain his status, 20 mil aren't a lot if you have to spend millions on houses cars and five star hotels.

w8t4u
w8t4u

@PackManBrainlure
Why won't banks let you borrow $10,000usd? Is it because you have a history of accumulating debt and becoming delinquent on it therefore signaling that you are a rather risky person to lend to? Or is it because you don't have a job and refuse to do what it takes to get yourself out of your current situation and improve your quality of life before you try to become an "artist"?

Evil_kitten
Evil_kitten

bump

Bidwell
Bidwell

@Firespawn

Go back to my city of Vancouver, Canada
Buy myself a piece of land for I dunno 2.5 million dollars. Build a new house for 600k or so (which would turn my 3.1 million dollar investment into a minimum 900k profit). With the remaining cash, buy a 2 bedroom/2bathroom higher end condo for maybe 1.3 million and rent it out for $6000/month, as well as a 1 bedroom/1 bathroom which I would rent out for $2000.

After all taxes and maintenance fees are paid off I'd probably be looking at a 55-60k total profit/year which is more than enough to live comfortably.

tl;dr real estate

BinaryMan
BinaryMan

@Firespawn
You're a hollywood actor who just got paid 5 million for a role. What do you do with it so you never have to work again
put it in a savings account, if im gonna live another 50 years thats $50,000 a year

ZeroReborn
ZeroReborn

@StrangeWizard
If we're talking about normal people, maybe it would be fair to consider it bait (or a stupid opinion), but if we're talking about an actor who already got paid 5m at least once, then it wouldn't be that hard for him to get other roles and perform them relatively easily.

I mean, if you're at the point where you get paid this much, I imagine acting won't be that hard or difficult for you, no?

StrangeWizard
StrangeWizard

@BinaryMan
50,000 * 50 = 2,500,000

Ignoramus
Ignoramus

Put it in a low risk etf, live off the interest.

Stark_Naked
Stark_Naked

@Ignoramus
ETFs don't pay interest or dividends shut up

askme
askme

@Stark_Naked
You could put half in an ETF, live off the other half for a long time, then eventually cash out on the ETF and live off that for the rest of your life

TalkBomber
TalkBomber

bump

whereismyname
whereismyname

@Firespawn
biggest worth: Merv Griffin
age: 91
$ 1B

askme
askme

@Firespawn
Stick about half in SPY and buy gold

New_Cliche
New_Cliche

@massdebater
How about you not buy the $2m house :/

Nojokur
Nojokur

Invest in real estate and rent it out. It's certainly a bit more work than a lot of other investments but it's a great and rather secure way to make money.

haveahappyday
haveahappyday

@Firespawn
Diversified investments.

Memed hard, but at least it's spreading risk.

iluvmen
iluvmen

@Firespawn
tfw this is your dream except you'd take the opportunity to keep working and to get laid through promoting your movie and doing deals, like using your voice if the movie becomes a video game, for example

RumChicken
RumChicken

@Firespawn
1. Move to country with zero tax

2. Withdraw $1 million to invest in hard assets (real estate, a little bit of gold) and have some cash available

3. Invest the remaining $4 million in stock ETFs (60%) and bond ETFs (40%), yielding $10,000 per month

4. Profit

VisualMaster
VisualMaster

@Stark_Naked
ETFs don't pay interest or dividends

Some do.

BinaryMan
BinaryMan

Let me tell you how this works OP.

5 million upfront
.5 goes to the agency that landed you the gig (you have an agent, right?)
.5 goes to charity (You're not an asshole, right? Plus not donating would kill your public image.)
2 million (half of what isn't deductible) goes to taxes
You have 2 million left.

If you want to stay a movie star you put that down on a ten million dollar house in an upscale neighborhood. Then you find another role paying you a cash advance you live on. While that's happening you "design" a product line, which you endorse with your image for about 7% royalties on retail and a few million upfront. Then you do a commercial for a few hundred thousand to a few million.

You live on that money until your next film happens, which is what you then invest along with paying off that mortgage. You don't ever end up investing even half of the money that you make upfront.

Spamalot
Spamalot

@Firespawn

buy a luxury car :^)

Snarelure
Snarelure

Dump half into penny stock trading at .01, dump rest into shilling said stock everywhere, sell and make a tidy profit.

TechHater
TechHater

@BinaryMan
you're clearly not in the industry and have a warped view of how actors live

AwesomeTucker
AwesomeTucker

@Firespawn
https://www.youtube.com/watch?v=eikbQPldhPY

takes2long
takes2long

@King_Martha

How do I into actor

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