A different way to spend $1,000,000 | MrBeast

Welcome back to another addition of The Wealth Board™.

I recently did a reaction video to the MrBeast $1,000,000 challenge.

✅Spending $1,000,000 In 24 Hours

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Today we are going to talk about what the winner, Mark, did with his money - we are going to dive into the numbers.

Mark started with $1,000,000 - and as part of the challenge he had to give $100,000 to his coach. He also gave $50,000 to another contestant.

This brings mark to $850,000 - at this point they took out about 40% for taxes - leaving Mark around $510,000 to spend within 24 hours.

The purchases that hurt me the most were:
🚗Two cars ($100k)
🏠A house ($165k)

What bothered me about these purchases were that they were paid in full, in cash. (Maybe that was a stipulation of the contest? 🤔)

After all the electronics, furniture, gifts for family, etc. Mark was left with $75,000 - $25k for savings, and $50k for investing.

Here is my theory on what could have been done:

Mark could have put his tax money into a high-yield savings account until tax time. He could have gained a couple of thousand during that time.

What if Mark financed the cars and the house? Yes, he would have taken on some debt - but he could have invested the bulk of that money. 💰

I’ll break down what that could look like over 5 years and 20 years.

Again, maybe there were stipulations with the challenge that prevented Mark from investing this way? 🤔

If you are someone that has won a similar challenge, the lottery, or received an inheritance - I hope you learned from this and are able to apply it in your life.

#MrBeast #thewealthboard

✅MrBeast $1,000,000 Challenge | Financial Planner Reacts to Spending $1m in 24 Hours

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Zephaniah 3:17 - The Lord your God is with you,
    the Mighty Warrior who saves.
He will take great delight in you;
    in his love he will no longer rebuke you,
    but will rejoice over you with singing.”



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