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If I Had A Million Dollars…   2 comments

Haven’t done one of these in a while.

You just inherited $1,000,000 from an aunt you didn’t even know existed. What’s the first thing you buy (or otherwise use the money for)?

First thing?

I would invest/save it and use the interest to buy things/pay debts/etc.

Yes, I know that is a boring answer. But I haven’t really ever desired to have tons of money and “nice” things. I’ve always wanted enough to live comfortably and simply.

Plus, one million dollars can’t actually buy as much as you would think. That is a very nice house and car with a couple hundred thousand left over after taxes. With a cheaper car and such it can go farther, but if you just chip away at the resource, eventually it will run out.

But, say I threw it in a five year certificate (which is the absolutely simplest way to save it, not the best one. I’d go see a planner), and had the interest on it go into my savings. At 2%, that would be $20,000 a year in interest. Sure, that’s not very much after taxes, but since I only make around $16,000 a year after taxes at the moment, that doubles my income. That would certainly me my life easier.

I could look for a job I really want without being afraid of lacking an income. Or I could work less hours at the one I have now, giving me more time to focus on my writing and music. I could also keep working the same amount, but buy a house, a car, fancy clothes, new guitars, video games….

But as I said, I don’t care for shiny things. So, in that case, what would I do with the money?

Assuming I’d gotten my self handled, I would help people with it.

First, I would help friends and family.

I would help my friends go back to school, so they could finish/get the degrees they want, but can’t afford.

I’d take some of the burden off of my mom and cover some of her house payment and other debts.

I would definitely save some money for my daughter’s schooling.

If I somehow handled all of my family and friends with money to spare, I would start trying to help others.

Maybe I would donate some to causes I find important, like father’s rights, or the homeless. But I haven’t really thought that far before, since I’ve never really had enough money and influence to think about effecting the world at large. So I guess that part I will deal with when it happens.

My basic point being, that although money can by possessions and a fancy life style, that isn’t going to matter in the end. When you are back to being broke you aren’t going to really want your super expensive Lamborghini and Armani suits.

But friends, family, and memories: these things sustain us, comfort us in our last days, fill us with happiness and love, and make life worth living.

Seems like they would be worth investing in, right?

-Shaman

P.S: What do you guys think? Comment below or link me your responses so I can check them out.

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2 responses to “If I Had A Million Dollars…

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  1. 20,000 a year on a 1 millionb dollar investment would be a very poor investment strategy. If you put it into decent mutual funds or stocks, you should be able to double your investment in 7 years. Which means if you invest and leave it alone for 14 years, you’re at 4 million, easily enough to retire. Hell, get into a position where you can invest 1000 a month and after 22 years you have that million dollars.

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