After much request, lets discuss the Mr Beast video Spending $1,000,000 in 24 hours. The ad revenue from this video will be donated back to Team Trees for the first 30 days. Enjoy! Add me on Instagram: GPStephan
Original Video: https://youtu.be/bs0SWXbty18
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First, let me just say this:
What Mr. Beast has done for Mark, the winner, and the opportunity this now afforded him, is absolutely incredible. Money like this is unconditionally life changing, no matter how it was spent, and the generosity of Mr Beast to give away SO MUCH is absolutely selfless. Not to mention, he recently hit his goal of planting 20,000,000 trees…so I think it’s safe to say, Mr Beast is definitely out there making a HUGE difference, and making such a positive impact on the planet.
It really goes to show you how much of a difference each of us can make, and Mr Beast has taken that to the EXTREME by HELPING AND GIVING just about everything he’s made. So, I just want to make it clear that - no matter HOW this money was spent - Mr Beast changed this winner’s life forever - and this is something that not only helps Mark, but his entire family as well.
In terms of Taxes:
Anytime you win money like this, the IRS will tax you on the VALUE of what you’ve received, and treat it as though it’s the same as your EARNED INCOME. From the $1 Million Dollar Winnings, Mark - the winner - gave $100,000 to his challenge coach, Chandler, and another $50,000 to a past contestant, Jeremy…so now, he’s left with $850,000 in prize money - and THAT is the amount he is now going to be taxed on. It’s estimated that he’d pay 40% of that amount in taxes…which works out to be $340,000…leaving him with $510,000 left over to do whatever he wants with.
I think it’s also important to recognize that - ANYTIME someone receives a windfall like this - it’s easy to have a false sense of security, or to lose perspective as to how far $510,000 really goes. After all, once the $510,000 is gone - it’s gone, and it isn’t coming back.
IDEALLY, in this type of situation…or, in any situation where you suddenly receive or inherit a large sum of money…the BEST thing you can do is lock it away for 1 year in a high interest savings account or short term CD, and JUST DO NOTHING. Give your body, and your mind, enough time to adjust to having that amount of money so that you won’t get caught up in the excitement of having more money than you know what to do with.
HOWEVER…I also don’t know the context of these winnings, or if it was a condition to go and splurge on loved ones if you won the $1 million dollars…because, from a content perspective, THIS is the right thing to do. Going and spending for other people would make really fun content, it makes you feel really good, and filming that would give Mr Beast MORE opportunities to give away MORE money in the future, to MORE people.
Sure, he could’ve priced shopped…he could’ve been thriftier…he could’ve invested more…but if it’s for content, that’s not the point of the video. This video makes you feel good, it’s nice to see him so happy and excited, and It brings back your faith in humanity to see him care for the people he loves.
I don’t say this to try and take away from Mr Beast’s video, or to downplay the significance of how life changing this money is to Mark. Mr Beast gave away MORE money than most people could ever even FATHOM, he’s changed so many lives, and even if Mark spent ever last dollar of it - it was put to good use, and his life will forever be changed for the better. Not to mention, at the end of the day…Mark DID get a paid off house and two really nice, paid off cars - that will ALWAYS have value - so, in a sense, the money WAS put to a practical use, and he can always have that available.
However, with the money that’s left over - it’s REALLY important to play it smart and to now start investing as much as you possible can, NOW, while you’re young…because, thanks to compound interest, you have time to grow that money into something SIGNIFICANT in the future, giving you 10x more stuff LATER than you can buy right now.
For business or one-on-one real estate investing/real estate agent consulting inquiries, you can reach me at GrahamStephanBusiness @gmail.com

By Stock Chat

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30 thoughts on “The problem with spending $1,000,000 in 24 hours mr beast”
  1. Avataaar/Circle Created with python_avatars Re: Leon says:

    always listening to graham's wisdom just in case that I won a hefty sum of money.

  2. Avataaar/Circle Created with python_avatars Sake says:

    i cant wait to get a million for free so i can lose perspective for a bit

  3. Avataaar/Circle Created with python_avatars Advanced Gaming Cow says:

    You might even say that taxes are…taxing…

  4. Avataaar/Circle Created with python_avatars Stephen Myers says:

    Assuming no bills, I think it would still be hard to live on 20K a year. Maybe if you are single and live very frugally, but insurance and taxes are going to eat up a lot of that 20K (property tax, car, house, health insurance, etc…)

  5. Avataaar/Circle Created with python_avatars AUDIO KING says:

    I like this type of content. very informative. I felt the same watching the video.

  6. Avataaar/Circle Created with python_avatars Kareem says:

    Bro needs to get more ripped before talking to mr beast

  7. Avataaar/Circle Created with python_avatars Codsniper says:

    His channel is manntonis

  8. Avataaar/Circle Created with python_avatars TheUnfriendly Llama says:

    IRS…. Fair share…. mhmm….

  9. Avataaar/Circle Created with python_avatars Nico Padua says:

    He really could’ve just put $400k in investments, gotten a mortgage, car loans, and personal loans for the jewelry, and let his money grow while making monthly payments.

  10. Avataaar/Circle Created with python_avatars Martial Party says:

    Ok You committed a grave scene when you said that the IRS wants to get “their fair share” they never get their FAIR share it’s always unfair they are just stealing from everyone they can.

  11. Avataaar/Circle Created with python_avatars Ivy says:

    saving accounts now yields 0.05% maximum. bruhhhhhhh

  12. Avataaar/Circle Created with python_avatars Journey into the Mind says:

    I'm not a financial adviser I'm just putting my opinion out there

  13. Avataaar/Circle Created with python_avatars Journey into the Mind says:

    Everyone look at shiba inu price increase. Let's see the dogekiller reach 50 cents.

  14. Avataaar/Circle Created with python_avatars LavaisMyName says:

    36THOUSAND ON FURNITURE!!! Holy that's a damn expensive sleeping bag a 12inch TV a coffee table and couch.

  15. Avataaar/Circle Created with python_avatars MANNTONICE says:

    Who this whole video is about me 😂😂

  16. Avataaar/Circle Created with python_avatars Broken vertebrae says:

    Smashing the like button is definitely going to make me a million I swear

  17. Avataaar/Circle Created with python_avatars Brixter Lixter says:

    Ron Swanson would be yelling his head off right now after watching all that money going to taxes

  18. Avataaar/Circle Created with python_avatars 7even says:

    llmao , I really want the irs to actually come and work with the ppl who make their hard earned money.

  19. Avataaar/Circle Created with python_avatars Tahvo Gaming says:

    Just saying Mr. Beast covers taxes on prizes the contestants win great guy

  20. Avataaar/Circle Created with python_avatars BrownBoyBryan says:

    omg graham finally donates a couple thousand dollars

  21. Avataaar/Circle Created with python_avatars Tenaiya Imani says:

    It’s cool how I said to myself I would want to spend $10,000 max out of that money after taxes, then Graham said go spend $10,000 🙂

  22. Avataaar/Circle Created with python_avatars jacob bana says:

    Graham, why did you talk about putting all of that post tax money into a high interest account instead of putting the bulk of it into a variety of indexes/etfs? Especially when some of those "high" interest rates pay less than the average inflation rate?

  23. Avataaar/Circle Created with python_avatars jacob bana says:

    What's up likes its guys here, make sure to smash the youtube button to help the Graham algorithm. 69,420 likes and I'll make a video of me buying a large Starbucks coffee without a coupon!

  24. Avataaar/Circle Created with python_avatars jacob bana says:

    Calling the taxes the IRS expects as "their fair share" made me laugh lol. You could buy a brand new car and if it gets sold to 30 different people over tome, the taxes might equal as much as the retail price. How messed up is that. I dont think gifts should be taxable, and at the same time should not quality as a tax deduction by the gifter. However this could create a HUGE grey area in employment as all employers could claim any wages as just gifts and simply pay their employees slightly less, saving them the equal or higher values on the deductions they wouldve got

  25. Avataaar/Circle Created with python_avatars bhwre says:

    Yolo in doge.

  26. Avataaar/Circle Created with python_avatars Kevin RAZA says:

    I mean if he has the money… Beast a real millionaire (according to Kevin O'Leary)

  27. Avataaar/Circle Created with python_avatars TAPP Channel says:

    I think thats a Tapp Channel 😉

  28. Avataaar/Circle Created with python_avatars Luke Nelson says:

    Taxes can be…..taxing?

  29. Avataaar/Circle Created with python_avatars Genesis Of Daylight(God) the creator of all! says:

    Do u shift consiusness from physical body to astral body to spiritual body. If not i am glad to make u a light Worker.

  30. Avataaar/Circle Created with python_avatars Graham Stephan says:

    FYI: The Ad Revenue of this video will be donated to Team Trees 🙂

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