If you had 3.4 million dollars would your house, cars be brought and paid for not owing anyone anything?

Besides the money you'd save at least own your house and cars like the top 1 percent does they don't pay they own 

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  • 1 month ago
    Favourite answer

    I would use the money for it, but not all at once, I would pay for a little bit at a time. 

  • Easily.  Of course, where I live I'd be paying actual taxes on that income, which is fine because it pays for badly needed services for our citizens.  Things like healthcare, infrastructure and other vital services.  

  • 1 month ago

    It is entirely possible that one need not be a millionaire in order to own their home and car, without monthly payments. I own my home outright  along with everything in it. I own my car and paid cash for the gasoline in the tank.

    I am far from achieving millionaire status.

  • 1 month ago

    I have much much less than that and my house and car is all paid off. 

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  • 1 month ago

    I would not need anywhere near that amount to pay for all that. 

  • 1 month ago

    Mortgage rates are at 2.5%, why would I outlay hundreds of thousands when it's almost free to use someone else's money.

    Most wealthy people lease cars because they are not going to own them for long periods.  But a $3.4M there are a lot of millionaires nextdoor, so they may lease, they may own, they may borrow.

    CASH IS KING.

  • 1 month ago

    Cars are likely paid.  Property may not be.  Interest rates are low.  Having your money work for you instead of just sitting in equity in your house is often not smart and likely not how the individual got to where they are.

  • 1 month ago

    Sounds like the old "million dollar" troller on here. {People with precisely 3.4 million dollars can do whatever they want.}  P S Logic error. You have to pay before you can own.

  • Amy
    Lv 7
    1 month ago

    I prefer to rent rather than be responsible for house maintenance, but if I had a mortgage, sure, I'd pay it off. But only because there's nothing else to invest in right now. Under normal circumstances you can make 10% in the stock market, so after paying 5% on your loans you have a 5% profit.

    The top 1% makes all sorts of "leveraged" (borrowed) investments. They can afford the risk in exchange for a high return.

    BTW, $3.4 million isn't nearly enough to crack the top 1%.

  • Judy
    Lv 7
    1 month ago

    My house and cars ARE paid for.  And i don't have 3.4 mil.

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