What are the first three things you would like to do if you become millionaire?
Imagine you become millionaire one day (for example, if you win the lottery). What are the first three things you would like to do with that money? Are you more for saving, or for spending them in luxury things?
At my age it doesn't really matter what I do with the money. Even if I live another 20 years I'll be able to clear an easy $50,000. On the other hand, if I were your age I'd have to do some serious thinking about exactly how much money $1,000,000 is. Right now it isn't really much. One luxury item and you'd be broke again. A nice house and you'd be broke again. So the best thing to do would be to put it away for a while and keep living your life as though it wasn't there. And don't tell your family!
1. Pay off student loans.
2. Invest the money.
3. Fulfill my lifelong dream of owning property in Beverly Hills to rent out to rich people.
The best thing someone can do! I like investing and saving money!
When you are younger that is a good thing. When you are in your 70s it is better to spend and enjoy what you can. As the old saying goes, 'you can't take it with you.
Boy! In your 70's! I didn't know anyone was THAT old...
I would give some to my 3 married children and their families and use what is left to enjoy the rest of my retirement even more.
I would pay off all of my bills. Do some needed repairs on my home, and place the rest in the bank to live off of while I work on my novels. I'd have all the time in the world to write when there is no money problems.
Pay off the house.
Fully fund retirement accounts.
Fully fund children's college accounts.
Enjoying all your money when you are old would be surely a good solution only if you have no family or heirs to which leave it after you die. But if you have them, I don't think spending all your money before you die would be a good solution.
So you expect your parents to continue to make sacrifices for you even after your supposed to be out in the world doing for yourself. Do you understand the definition of selfish?
If parents really love their child, they make them... in my case it happened, and I know many people who are in the same situation... you know the word "selfish", and think it describes a generalized situation? Sorry about this
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