If someone give you 10 million dollar, what will be your spending plan?
Someone ask me the question. Please Answer this question. thanks
Hmm... Good question. I guess some of the money would go to my family (particularly my Aunt with cancer), some to charity, and the rest I'll spend on a low budget film Great question, thanks for asking.
I really don't think anyone can just hand me 1 million dollars but if unbelievable i do get that kind of money....i may spend some of it to make sure my family and I are living the good life...but most of it will go into making much more millions so i never wish for somwthing that i can't have or believe may never happen
Assuming all taxes are paid for... I'd take 1 million to buy a house, car, furniture, and all the necessities of life (I wouldn't spend more than $250,000 on a home and land). I'd take another million and split it up among all those close relatives who have helped me throughout the years. Another 2 million would go towards investments (mostly moderate and conservative investments and a small portion to high risks). Then I'd take yet another 2 million and stick it in the bank (several different and secure accounts) or some other form of very conservative manner of bearing interest, and I would live off of approximately $50,000 a year for the rest of my life (40 years).
With a house which is fully owned, etc. living on $50,000 would be quite easy and rather comfortable for me, especially since I'd have the equipment installed to produce my own electricity so I could sell the surplus back to the power company rather than paying them for my power.
I'd split up 1 million across the board to worth while charities who held similar positions for their cause as myself. Then I would, of course, sock away 2 million for my kid. Finally, I would take the remaining 1 million and determine how best to store it away to keep bearing interest, yet allow me to pay my taxes each year.
Or something along those lines...
If and only if I am given 10 million dollars, here is what I will do.
I am always thinking of how I can contribute back to the society to help those unfortunate people who are struggling to survive.
So, I will make use of this amount of money to build a factory plus some shelters who I can hire these unfortunate people to work and have a place to stay.
This factory will be a place where they will be trained with a skill so to enable them to be able to support themselves and build their own families. They will in turn teach others the same skill so that others too can benefit to survive in the society.
It has been my dream to help as many people as I can before I leave this world.
Anyway, without this money, I will only can do with limited resources and hope that some day everyone will be independent to survive with their own skill.
If someone gave me 10 million dollars, i would firstly thank that person. I mean it is not everyday that somebody gives you 10 million dollars.
As to what i would do with the 10 million. Firstly, i would donate 5 million to various charity bodies. Secondly, i would buy a house and ensure all payments have been settled. I would also use the money to settle any oustanding loans and debt. I would also keep aside some money for my chidren's education fund as well as some money for their marriage. I would also keep aside some savings and maybe invest into less risky funds.
I would also ensure i have given a good life for my family and my children and would definitely leave them with some assets, such as houses or land.
If I was really getting this 10m dollars my spending plan would be:
(a) Secure a financial future for me and my family - through investments. (that's approx 2m)
(b) Setup a separate investment plan that would provide a boost income for all my family and friends (I don't expect them to retire on it but enough income on a monthly basis that they can enjoy life without financial stress) That I'd say would be approx 4m
(c) I'd invest 3m for a regular income for the charities that I'd like to support.
(d) I'd put the last 1m in a savings account for a rainy day.
That's my 10m.
I would love to make my families life more secure, then I would like to establish a center for creative young people who have not access to an opportunity to see it bloom, it would be to do with the arts and design. Not to make hero's but to make dreams grow.
After being cut by tax and charity, and share it with my parents, I think I will save it to secure my future, So I can retired from my job and focusing my goal to starting non-profit organization for helping orphan children since that time.
Aaaah... that is beautiful dream to have. ^^
thanks for asking question that if someone give me 10 million dollar firstly i thanks God and him who gave me.i may spend some of money for the charity like giving to the orphans and poor people and open a charity hospital,schools.then think about my family.
I would take 1 million and put it in an annuity to supplement our retirement.
The rest I would use to set up a charitable foundation to help wounded veterans receive the medical care that they need.
I would put a million in the bank. (to accumulate interest)
I would give my mom & dad a million.
I would give my fiance's mom a million.
I would put 2 million away for my kids. (When I have um)
I would donate 2 million to people & animals in need.
Then I would use the last 3 million to live on. I would buy a nice house, some stuff for the house and 2 new cars then I would only allow myself to use $100,000 a year max.
Buy a load of stuff: such as gold, silver, land etc, that is not going to depreciate catastrophically sometime during the next 6 months. 10,000,000 ain't so much when a cup of coffee costs 45,000 dollars (I'm thinking hyper-inflation here: like Germany in the 1930's).
I wouldn't spend it on much. I would just relax and do whatever I want to do, without worrying about making money anymore.
I will spend it on the following items:
3. Rehabilitating the poor to make them stand for honourable earning.
4. Making a trust of the kind of some industry where the poor are employed and its income is further spent on the deprived humanity.
i would invest it in a wide range of things . saveing enough out to make a down payment on a place , and pay off bills .
then i would live off the interest on the investments
1. Create a budget
2. Tithe 10% along with an offering.
3. Contribute more to children's/relatives education funds
4. Build a vacation home
5. Buy homes/investment properties for children
6. Take a family a cruise/vacation - extended family invited
7. Set up a foundation/bursury in the name(s) of loved one(s)
8. Donate to my favourite charities
9. Go to Disney
10. Bank the balance and live carefully on the interest
well to say the least my family has never had much luck or money weve run into many bad times. when i say family i mean all familey mom dad gma gpa ect. weve all struggled to get along so i would first pay all our combined debts, make sure each of us has money enough to get bye on, then i would set up at least 4 differnt savings bonds for my 4 children to help them progress through out there lives at different points, id also do the same for my sisters kids, id then help my parents who have helped me much in the years past bye building them a nice home were they could retire with there horses, id putt at least half in a high intrest savings acount and live off the intrest for myself i dont need much a little land a smll cabin a good truck and perhaps a old hound dog to sit on the poarch with, i work at a shelter so i would go through and renovate the property by modernizing and making it more functional and green, then id help a few freinds that have always been there for me, iv often thaught it would be nice to go through the stores handing out money to those that could use it, and our food bank would get a nice donation along with the aspca and the amarican human society,i would also countinue to work in my shelter and go back to school for many differnt things that i never had the oppertunity to achive. these are just a small amount of things i would do but thers so many more and so many more people id come across in years to come that would be wounderfull to be able to help.
Oh, my God. First I would thank God and pay tithes. Next I would find a Robert Kiosiki? investment class because if you don't know how to manage money, then you will lose it quickly. I would buy a car and house. I would go on vacation. I would also give some to my family but they cant go on vacation with me. LOL
i will give my life to she or he,,and do everything for her or him, give some money to familly and people need help
College loans, go to what ever college I wanted fully paid for, get my mom a house, myself a apartment and save it
by Scott Mandrake 10 years ago
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 betterTell me what you would do with 1 million dollars.Scott
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