A recent thread mentioned giving every US citizen $1,000,000 as a possible solution to the current economic crisis. I wonder, if by some chance you were given that amount of money, would it really make your life better
Tell me what you would do with 1 million dollars.
Certainly, yes. My life would change completely if I was given $ one million but only if the other citizens are not given the money.
This does bring up an interesting point. There is a big difference between being the only one you know with 1 million and being one of many. Many of the traditional problems such as jealous family, friends and neighbors will not apply. That being said, imagine the possibilities of family members combining their fortunes to increase investment yields and the the like.
It’s only natural to assume that if each one of us was given $1 million, the highways would be jammed bumper-to-bumper with chauffeured limousines, but in the real sense this may not be so as a cup of coffee would now cost $1000.
If I was one of the few who is given the $1 million, then I would try and uplift the living standards of my friends, neighbors and the community where I come from.
I would particularly be interested in funding a programme that would help the society plan/control the size of families. Most problems in every society are directly proportional to the size of families. With small manageable family size, then family members can be able to combine their fortunes to increase investment successfully.
I would just make sure I had a place to live the rest of my life without being a burden on anyone.
I'd do that too :-)
And since you like where you live right now, it wouldn't even take all of the money!
Happy New Year - I'll let you know if I win the lottery - I think that's more realistic than expecting that check from the government!
I'd pay off my mortgage and my credit card debt and build a pole barn for my better half to putter around in. I'd put enough by so that he could retire early (like, now). I'd buy a small commercial building and open a New Age shop near the college campus here.
It would definitely make a difference in my life. But I'm not holding my breath for it to happen!
I would find a way to be in a position to give to less fortunate people for the rest of my life.
Put them on several bank accounts in different countries, and under my mattress
Assuming after-tax. I would keep $100K in a bank account to pay for my expenses for a year or two. Invest the rest in startups or start my own business. $1 M is not going to change your life dramatically, considering that you can't even buy a decent house with that money in a good area.
The lazy way to do it would be to put it in Mutual funds or bank and try to get 5% back every year, but that's not really exciting, is it?
One million dollars most certainly CAN buy me a house in a good area here where I live. I have a fantastic 1700 square foot house. It may be small, but I loooove it. I would pay the mortgage off (100k remaining) and set up an account from which the government would receive my property taxes each year for the next decade or so. I would also pay off my mother's mortgage (technically I'd buy the house from her and let her live there rent free.)
I'd get a proper fence built in my back yard so I could let my puppy run around free without worry.
I'd get the surgery I've wanted/needed on my eyes so that both my eyes would be straight (I have lazy eye in both eyes. )
I'd squirrel a large chunk of money away for my retirement, and I would keep my job - but would buy a car and hire a driver. Any remaining money I would send half of it to Child's Play (a charity organization that gives kids in hospitals game consoles and games and stuff) and go on a shopping spree.
Or perhaps I would invest my $1 million in the stock market.
If I had a million dollars I would give 10% to a friend of ours to help him with his church.
I would have a place where the homeless would feel comfortable and could get back on their feet, I would pay off all of our debt since mortgage,vehicles etc. , put money away for our son's college fund and we would all take a trip to somewhere exctiting and the rest would be our rainy day fund so that we would never have to struggle again. I would however not quit my job as I love what I do.
One million doesn't go as far as one thinks it would, especially in some areas!
But I would invest in real estate, buy a '79 or '80 Mercedes convertible, open an art gallery, a publishing house, a cool restaurant, make the money grow, travel a lot, paint, write, work only part time, give more $$ to charities. !!
I can see it now!
Oh, well... More than likely I'll have to figure out some other way.
Anyone remember the late 1950s "The Millionaire" TV series? That's when a million dollars meant a life-long fortune.
Actually, I'm looking for the 380 million dollar payout on PowerBall. With that, I'd set up a charitable foundation which would employ a lot of people and benefit a lot of people, sort of like the Gates foundation, only smaller.
In the absence of that fortune, I'd invest the one million in a growth business, handle my personal needs from there, and work at that 380 million goal.
Ahhh! Nice dreams.
Live mortgage free in a house that uses only renewable (free) energy for the rest of my days...
I would take the $1M and use it to trade on the forex market, therefore earning $600k a month
Easy. I'd spend $250K on a house, and buy a 10 unit apartment complex, complete with property manager, and then hub full time.
Yeah, pay off "some mortgage" not all, some bank accounts overseas, donations/charities of course, and put something into the infrastructure, I'll go more green (environmental talk)
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