Tag Archives: New York Knicks

Comics and Comic Book Reviews, Financial Independence, Retirement, Self-Made Millionaires

What would you do with $1 million dollars in your 401k?

Gallery Leave a comment

“Thomas Edison’s last words were “It’s very beautiful over there“. I don’t know where there is, but I believe it’s somewhere, and I hope it’s beautiful.”
― John Green, Looking for Alaska

Happy Saturday! It’s the last day of May 2025. As I write this, I am closing in on $500,000 in investments.

It made me take pause and reflect on the journey I had been on to get to that number.

The sleepless nights wondering how I was going to pay the bills and how I would afford to pay for retirement was over. Even with a return of investment of less than the stock market average of 10 percent over the last 30 years, I would still hit the $1 million nest egg milestone before I retire. So it made me think, what would I do with $1 million dollars of investments?

With that type of money, if you wanted to, you could buy a house with cash depending on where you want to live. This includes places inside and outside of the United States.

The cheapest places to buy a house in the U.S. include states like Iowa, West Virginia, and Mississippi, as well as cities like Scranton, PA, Weirton, WV, and El Paso, TX. This year, West Virginia has the cheapest homes in the country, with an average house price of $146,578. Several countries also offer affordable options for buying a house outside the US, including Colombia, The Philippines, Italy, Nicaragua, and Mexico.

I even heard Italy was letting people buy homes for $1! That’s a pretty sweet deal! Bravo, Italy. It makes me want to pack my bags and say ciao bella!

Even if staying in the U.S. is what you want, you do have options on where you live and what you do in retirement.

That is enough scratch to start a business, travel the world, start a charitable foundation for college scholarships or to help donate to meals on wheels. The possibilities are almost endless.

I may not be able to give away billions, but I sure could start a college scholarship fund for underprivileged kids with $10,000 starting capital for $500 each one towards books or other education related expenses. Maybe I could do something for medical students and start a scholarship that pays for med school application fees or supplies.

The point is that you have options. Many options. Especially, if you have a paid off home and no debt.

I remember Dave Ramsey saying that most people acquired their first million by consistently investing in their 401k’s and paying off their primary residence. In addition, the people they did a study on became millionaires from five professions: teaching, law, management, accountant, and engineering. So if your in one of those five fields, then you got a real good shot kid of being a becoming a millionaire.

Just taking stock of myself, I did pay off the personal and auto loans. Then redirected that money to my savings and investments. The auto loan was $450 and the personal loan was $333. The goal is to get to a savings rate of 50 percent . I then want to direct my attention to paying off my mortgage and having no home payment. That allows me to be in the driver’s seat of my future time after punching the clock.

So what would I do with all that free time and one million dollar nest egg? I think I will start a second career. What would I do if money was no object. Maybe voiceover acting. I was told once I had a great voice for radio! I was also once a background actor for a Hollywood movie. I could expand my creative pursuits outside of blogging.

I could teach personal finance and home economics at the local library.

I could backpack through Europe.

To be specific, I could buy a first-class ticket to London, stay at the Ritz Carlton or Savoy and have high tea while also taking in the sites of places in the Ian Fleming novels and have my martini shaken not stirred. I could visit the home towns of Jane Austen and Charles Dickens.

Maybe I will go to visit the fictional town of Stars Hollow from the show Gilmore Girls.

In the book “The Count of Monte Cristo,” Edmond Dantès (the Count of Monte Cristo) lives in several locations. He lives in Rome and Auteuil, outside of Paris. The author of the book, Alexandre Dumas, also built a mansion called Château de Monte-Cristo in the French countryside, which was a real place. Maybe, I’ll go for a looksee.

“What is the point of being alive if you don’t at least try to do something remarkable?”
― John Green, An Abundance of Katherines

The point is to have goals and have some fun. Go on adventures. Dream big. Hard work should be rewarded. It can take decades to build a million-dollar portfolio. Live a little. The most successful retirements are the ones of which people retire to something.

To quote the author John Green, “The way I figure it, everyone gets a miracle. Like, I will probably never be struck by lightening, or win a Nobel Prize, or become the dictator of a small nation in the Pacific Islands.” However, I can fly to Paris on a Monday, have high tea in London on Wednesday, and stay at the Palace in New York City like Serena van der Woodsen in Gossip Girl.

You can check out my post on the show called Money Advice from Gossip Girl.

My miracle may not have been to live next door to Margo Roth Spiegelman like the protagonist in the book Paper Towns in which the quote is borrowed from, but I still can create my own miracle. The gift of free time and financial freedom. A life that is well-lived and leisure that is earned.

So with all that said, the question you are to ask yourself, “what would you do with a million in retirement?”

Would you sail around the world?

Would you visit the Louvre in Paris, see the pyramids in Egypt?

Or maybe you would try out your Spanish language skills you learned on Babbel in Spain or Barcelona?

Or would you visit the beaches in Rio?

As for me, maybe I will visit all the places The Chipmunks went to see in the 1987 film The Chipmunk Adventure.

I could buy a Porsche 911 with cash.

I could rent out a beach house on the California coast.

I could stay at the same hotel as James Bond in Montenegro.

I could buy a season ticket to see the Yankees or the Knicks play.

I could buy a ticket to ComicCon in San Diego and go meet my favorite actors from the Marvel Comics films. (Just FYI…I got to meet Orlando Bloom aka Legolas from Lord of the Rings at a comic convention and he was an absolute gentleman!)

I could buy a front row ticket to a concert.

I could fly in to whatever city they decide to visit to get my replica Book of Shadows signed by the cast of Charmed!

Yes, I’m a comic nerd, sue me.

I even have a Betty and Veronica fridge magnet. Yes, from the Archie Comics. Maybe I’ll have a lost weekend like they did on Riverdale and dance the nite away at a club in Vegas. I might even steal Veronica Lodge’s dance moves!

I once flew in to ATL for a day just to go to Six Flags over Georgia!

I have never swam with the dolphins or run with the bulls. However, I did get to meet the iconic actor Val Kilmer and got to be in a Hollywood movie as an extra! Both were pretty cool.

I once even decided on a whim to take the train to New York on a weekday afternoon so I could sip cocktails at the Plaza Hotel.

Just know whatever it is, it will be epic!

About The Author

Miriam started Greenbacks Magnet in 2016 to keep a scorecard of her goal of $1M in investable assets. Armed with a Master in Management (MiM) and a calculator, she teaches readers how to achieve financial independence while also helping them learn how to smell the roses along the way. The palpable response she got from sharing her personal finance goal in a public speaking course at Georgetown University encouraged her to share her story and teach finance on her website. She invests in AI companies as artificial intelligence is the new iPhone of the moment as she likes to invest in companies that are disruptive.

Budgeting, Financial Freedom, Saving

It’s a Suit, Tie and High Heel City

Gallery Leave a comment

Concrete jungle where dreams are made of there’s nothin’ you can’t do. – Jay-Z featuring Alicia Keys Empire State of Mind


Women and high heels.


It is a love affair that has been raging on for 500 years. Since about the 15th or 16th century.


Those 3-inch spiked heels and peep-toe pumps can really turn heads.


“It is better to be looked over than overlooked.” – Mae West


However, is that what you really want? Or is it something more to it than that?


Here are some women in pop culture that regularly work, dance, sing, wear, perform, and even workout in high heels.


Let’s take a look.


Nicole Scherzinger – estimated net worth $8 million (she was known to run on the treadmill in heels)

Shakira – estimated net worth over $80 million (she is known for her belly-dancing skills)


Victoria Beckham – estimated net worth over $100M (Posh Spice loves her some heels)


Beyoncé – estimated net worth over $350 million (performs in high heels while doing intense dance choreography)


From what I gather, the high heel is all about power.


In what way you ask?


Keep reading and find out.


WHERE THE HEELS HAVE A NAME

And the Clackers just worship her. They call them Clackers, the sound that their stilettos make in the marble lobby. It’s like, “Clack, clack, clack”. – Anne Hathaway in The Devil Wears Prada


Clackers are characters in The Devil Wears Prada. They are known for the clacking noise their stiletto heels make against the marble floors of the fictional Elias-Clark.


One of the biggest cities in the world, Manhattan, in New York is known as much for its power lunches and business suits as it is for women decked out in sky-high heels.


A business and fashion capitol of the world. It is also known as a concrete jungle. And the Empire state.


However, you have to pay the cost to be the boss.

A custom made bespoke business suit can cost anywhere from the low thousand-dollar range on up to $5,000. Regardless, if you are in New York buying a Tom Ford three-piece suit, or across the pond in England buying from Henry Poole & Co on Savile Row.


And women’s shoes are no exception.


When a Manhattanite was asked why women wear heels, she says the power is everything. The reason why women wear shoes that hurt their feet is about POWER.


I read online that a Manhattan woman was quoted in the New York Times saying “Low shoes are for those who give up. If a woman cannot wear heels, can she really take over the world?”


“Give a girl the right shoes, and she can conquer the world.” – Marilyn Monroe

You saw how crazy in love women can get with their heels on Sex and the City.


At one point, Carrie Bradshaw (Sarah Jessica Parker) was regularly dropping some serious coin on the likes of Jimmy Choo, Manolo Blahnik, Christian Dior and Christian Louboutin. Anywhere from $300 to $1,000 a pair!


If these boots were made for walking, then she was usually in heels.
Remember this iconic newspaper dress. Well, those shoes are Louboutins.


WHY SO HIGH?


That’s a great question.


I actually read a book about finance and in the book it discussed women wearing heels while working as cocktail waitresses. Particularly in casinos. When asked why they wore heels that obviously hurt their feet and back, they replied, “bigger tips.”

The higher the heels, the better the pay.

Even with this fact, statistics say at least 40% of women have given heels up.

So, basically it’s all about money. As a study reported, taller people or at least those that look taller make more money. Like $800 or more per year. Go figure.


WHAT DOES IT COST TO LOOK THIS GOOD?


“I like my money where I can see it – hanging in my closet.” – Carrie Bradshaw


Glad you asked.


As an extreme example, we will use a reference by Carrie Bradshaw.


Remember that episode where her building was going co-op. She had to come up with a down payment or lose her home. An apartment in a great location.


She told her friends Samantha, Miranda, and Charlotte (Kim Cattrall, Cynthia Nixon, and Kirsten Davis) that she didn’t have the money.


When prompted why she didn’t she stated she wasn’t sure where her money was going.


They tallied up her shoe addition.


Those Jimmy Choo’s ain’t cheap after all.


At $500 bucks a pop, she owned maybe 30 pairs. She then gasps, and clutching her chest she says, “I spent $15,000 on shoes!


That is a down payment on a home or rental property.


Using the rule of 72, with a 12 percent interest rate she could have doubled her money every 6 years! In 18 years, that $15k is worth $120,000! In 48 years, that’s $3,840,000!


Come on, Carrie. I need you to spend more wisely. And follow your own advice.


“Beauty is fleeting, but a rent-controlled apartment overlooking the park is forever.” – Carrie Bradshaw


BUT DOES IT SCALE?


Buying all those shoes I mean.


Scaling can mean a lot of things, but in this case I mean making best possible use of the resources we have and amassing wealth. Can we also do better things with our money ethically?


If she was a costume designer, and she got paid to shop and was paid in shoes and money. Then yes.


However, since someone else isn’t footing the bill, that money is coming out of your pocket. Gone forever.


According to philosopher Kant, there is no greater good to come from this.


If buying shoes was a hobby she turned into a business, like taking all those heels and putting them all in one marketplace online for resell with an upsell. Then using that money for a better purpose.


That’s money in your pocket. More is coming in than going out.

Saving equals success.


WHERE CAN ALL THOSE SAVINGS GO?


Another great question!


I’ll tell you.


But first…


A few questions for you.


• What interests you?
• Do you want to earn money?
• What do you like to do with your time?


Once you have a starting place, you can go from there.


Therefore, if remodeling, decorating, scrapbooking, sports, or the ballet interest you, then maybe you should consider putting your money into those things.


You could place your money in REIT’s (real estate investment trusts).
These mutual fund stocks allow you to invest in real estate without doing all the work of managing a property or paying property taxes on it.


Like to play sports?


How about investing in sports teams.


You may not be an owner like Jerry Jones, but you can certainly buy stocks in sporting equipment or businesses that own sports teams. For instance, owning shares in a publicly traded team like the New York Knicks.


You can also buy sporting goods stores who sell retail merchandise and apparel. Like Dick’s Sporting Goods, Foot Locker, or Nike and Adidas. On the New York Stock Exchange (NYSE), the Nike shoe brand is listed as NKE.


Are you interested in the arts?


You can donate to charities like libraries, hospitals, and museums.
For example, the Metropolitan Museum of Art or “The Met” in New York City.


Founded in 1870, its statement reads: The Met “collects, studies, conserves, and presents significant works of art across all times and cultures in order to connect people to creativity, knowledge, and ideas.” The art and library is accessible to anyone and you can make any donation you wish. Anything will do.


You can also donate to your local library or other places that are close to your values because the best thing you can do with your money is put it where your values are.