I'd think about how I would spend aforementioned money the whole 24 hours without knowing it, then I'd be sad because I didn't use any of the million dollars.
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If you were given a million dollars how would you spend it?
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Well, if it's gonna disappear in a day if I or someone I know benefits from it, I'd just give it to some charitable organization. That way someone benefits from the money instead of it just being a waste.
But if the money will disappear won't that charity be pissed at you 24 hours later.
It would make me very happy to give it all away to those less fortunate.
I say that for brevity, as specifying who I would give it to is a completely different topic.
I say that for brevity, as specifying who I would give it to is a completely different topic.
I'm a little confused...anything with value will disappear? So no material items whatsoever? No motorcycle, guitar, or computer? Ouch. Wouldn't the vacation arrangements turn to dust, too?
Some things I would do then:
Eat out a lot. Maybe take a bunch of family and friends out to eat.
Book a couple weeks in a recording studio that records to tape.
Totally blanking out now.
Some things I would do then:
Eat out a lot. Maybe take a bunch of family and friends out to eat.
Book a couple weeks in a recording studio that records to tape.
Totally blanking out now.
We all know the problem with money.
a) Paying tax on it, or in other words: It's not a million to start with; Basically.
b) We know others spend it.
To point out the obvious.
Situation: The lake has crocodiles in it.
Problem: How do we avoid getting eaten by the crocodiles?
Solution: Don't go into the water. The question is not: How do we swim with the crocodiles.
If you have enough money you can call yourself wealthy enough to live life comfortable enough for a longer period of time. There's a problem a/b, the question isn't 'how do we spend it, or what on', the question is how do we avoid the problem of not staying wealthy enough to stay comfortable enough (and allowing us to keep spending what we can).
The answer is as simple as the crocodiles: Don't spend it.
I rather adjust the life I have to be more comfortable. For example, rather than paying rent monthly. Why not pay ahead for 6 or 12 months? And rather than investing in a big house, that will certainly come with additional costs, why not live a bit more comfortable by getting something affordable and avoid ridiculous additional costs.
Anything I would do to improve my life doesn't have to be done in the first 3 to 12 months of having a million. I have enough time to spread these improvements over say, 2 to 10 years. Allowing me to safe money, earn interest over what I still have, avoid surprises and disappointments, and still feel I am constantly improving my life.
I am not talking about being greedy. There's no use in not spending anything of it, and not improving your life. That's basically the same as not having a million.
What is nice, is that you know you can have some pocket money you don't have to think twice about. So worrying about asking someone out for coffee an a lunch shouldn't be a worry anymore. I would however set a bit of a limit. So you're not spending a thousand bucks every day on things that do not have a return. But it's nice knowing you can pay your rent, you can go out for drinks, and you can get a good health insurance plan.
If you believe you have figured out 'now being a millionaire' means to you financially. And you feel you need say, 200k every year to spend. Then perhaps it's also a "cost" to invest your own money for the future years ahead of you. If you want it to last an x amount of years, considering that money as 'spent' for the next x years, minus the total that you have, tells you what you can 'throw away' in a casino or a weekend away with the misses. Or perhaps a bit smarter: give back to friends and family if they could really use it.
I mean, there's no use in thinking you have 500k left in a year, and then giving a 50k party every year .. Just to find out you've run through it faster than you thought. You end up having a few years of fun, ending up with bills and disappointments that will last the remaining part of your life.
What I am trying to say is: I wouldn't buy 'every apple product when it comes out', I would buy the one I think I would like to have perhaps. But would still think twice about upgrading it. I wouldn't' invest in the most expensive telecom account just to get a bigger traffic cap - when I perhaps only use a few gigs of traffic monthly.
Having money doesn't mean you should throw it away. Just use it to improve your life, benefit from having money (making money needs money, hello: you have it now, so don't be stupid), and enjoy life, but think twice.
What use is a pimped out 17k $ mac pro server, if maybe a tweaked 3 or 4 k one is already perhaps overkill. Use the other 10k for charity or pay your sister her hospital bill or something. Or just keep it to earn a bit extra interest on it, or invest in apple stock.
OKAY.
Now that I got that out of the way, and I am pretty sure everybody has stopped reading
Let's move on to what I would personally do.
I would not buy a house, but I would move away from this old flat to a more modern apartment. And pay rent and utilities upfront.
I would probably sell the hardware I have, and invest in an iPad for mobility and a new iMac as home computer. this should be fine for a bunch of years.
Transportation for me is a bit ichy due to my bad eyes. I might make a budget so I know how much money I can spend "more" on choosing to go with a cab, rather than jump on a bus or use a bike (for longer distances) so traveling is more comfortable.
My insurance is the cheapest, and I don't want to worry about unexpected bills. I would look into improving this - so I don't have to worry about those bills anymore or not getting the right care when it's needed. This includes making an account where I put money in for pension years. So when quality of life is horrible; I would have extra money that I never spend that has grown due to interest to help me get personalized help. I don't want to sit in a home in my diaper waiting for my body to just give up and then die. What use is a million bucks, if I end up being unhappy anyway.
One thing I would do to not just improve my life, but also to feel like I am spoiling myself, is to hire someone to do the shoppings for me, sort of a personal assistant - slash - personal cook. Someone that's trained to make wonderful but healthy enough dinners. I rather have great fresh fruit weekly, and a nice dinner in the evening. Knowing the fridge is stocked. I don't need to go overboard with this. I like cooking myself, I like making breakfast for someone. And I enjoy going out for lunch with friends and family to catch up. It's just nice to not have to worry about what to eat, or if it's even in the fridge. Let someone else do that. That knows more about food than me.
Another thing I would spend a bit of money on that I can't afford right now - is to create a budget so once a year (at whenever date) me and friends, or me and family, can go away for a weekend to spend time together. Say, an evening at the casino with some spending money. Or a weekend at a hotel with a pool. Or take a few close friends to Paris (which is 8 hours away from here btw) to get a special dinner and a nice evening out.. etc. Rather than throwing it away at random parties, I want to make memories - but not feeling awkward about paying the bill. (Also, friends enjoy my wealth without asking for money hopefully or expecting it).
And over time, I would spend some money on say improving where I live. Such as furniture, or things in the house. A better bed, stuff like that. But you can do that one thing a year. No need to throw away 250k in 1 year. When you can earn a bit of interest on that 250k first.
I really don't feel I want to spend the money - not even 50% of it. I like the feeling of 'i know I have money' so I don't have to worry. Over the feeling of 'I got all this stuff, it's awesome' and not knowing what the future might bring.
I am not employed, and even going on vacation in Europe here is expensive. Just 250 to 500 for a few days away in germany or the UK is a stress for me. Just knowing I might have pocket money I can use to buy a high speed train ticket and spend a weekend in brussels, is what I would consider vacation. Taking a friend or family member with me is then not much of a worry. I still rather do that, than go on a 5000 to 10k vacation every year 'just because i can'.
I won't buy expensive cars,
I won't buy a house,
or multiple,
I won't buy my family members houses,
I won't pay off the bills for my family or friends,
I won't buy a yacht or big diamond rings,
I won't throw it away in casinos just to feel rich,
I won't get married (biggest cost probably haha).
And despite good intentions I will probably still end up being broke after 3 years.
a) Paying tax on it, or in other words: It's not a million to start with; Basically.
b) We know others spend it.
To point out the obvious.
Situation: The lake has crocodiles in it.
Problem: How do we avoid getting eaten by the crocodiles?
Solution: Don't go into the water. The question is not: How do we swim with the crocodiles.
If you have enough money you can call yourself wealthy enough to live life comfortable enough for a longer period of time. There's a problem a/b, the question isn't 'how do we spend it, or what on', the question is how do we avoid the problem of not staying wealthy enough to stay comfortable enough (and allowing us to keep spending what we can).
The answer is as simple as the crocodiles: Don't spend it.
I rather adjust the life I have to be more comfortable. For example, rather than paying rent monthly. Why not pay ahead for 6 or 12 months? And rather than investing in a big house, that will certainly come with additional costs, why not live a bit more comfortable by getting something affordable and avoid ridiculous additional costs.
Anything I would do to improve my life doesn't have to be done in the first 3 to 12 months of having a million. I have enough time to spread these improvements over say, 2 to 10 years. Allowing me to safe money, earn interest over what I still have, avoid surprises and disappointments, and still feel I am constantly improving my life.
I am not talking about being greedy. There's no use in not spending anything of it, and not improving your life. That's basically the same as not having a million.
What is nice, is that you know you can have some pocket money you don't have to think twice about. So worrying about asking someone out for coffee an a lunch shouldn't be a worry anymore. I would however set a bit of a limit. So you're not spending a thousand bucks every day on things that do not have a return. But it's nice knowing you can pay your rent, you can go out for drinks, and you can get a good health insurance plan.
If you believe you have figured out 'now being a millionaire' means to you financially. And you feel you need say, 200k every year to spend. Then perhaps it's also a "cost" to invest your own money for the future years ahead of you. If you want it to last an x amount of years, considering that money as 'spent' for the next x years, minus the total that you have, tells you what you can 'throw away' in a casino or a weekend away with the misses. Or perhaps a bit smarter: give back to friends and family if they could really use it.
I mean, there's no use in thinking you have 500k left in a year, and then giving a 50k party every year .. Just to find out you've run through it faster than you thought. You end up having a few years of fun, ending up with bills and disappointments that will last the remaining part of your life.
What I am trying to say is: I wouldn't buy 'every apple product when it comes out', I would buy the one I think I would like to have perhaps. But would still think twice about upgrading it. I wouldn't' invest in the most expensive telecom account just to get a bigger traffic cap - when I perhaps only use a few gigs of traffic monthly.
Having money doesn't mean you should throw it away. Just use it to improve your life, benefit from having money (making money needs money, hello: you have it now, so don't be stupid), and enjoy life, but think twice.
What use is a pimped out 17k $ mac pro server, if maybe a tweaked 3 or 4 k one is already perhaps overkill. Use the other 10k for charity or pay your sister her hospital bill or something. Or just keep it to earn a bit extra interest on it, or invest in apple stock.
OKAY.
Now that I got that out of the way, and I am pretty sure everybody has stopped reading
Let's move on to what I would personally do. I would not buy a house, but I would move away from this old flat to a more modern apartment. And pay rent and utilities upfront.
I would probably sell the hardware I have, and invest in an iPad for mobility and a new iMac as home computer. this should be fine for a bunch of years.
Transportation for me is a bit ichy due to my bad eyes. I might make a budget so I know how much money I can spend "more" on choosing to go with a cab, rather than jump on a bus or use a bike (for longer distances) so traveling is more comfortable.
My insurance is the cheapest, and I don't want to worry about unexpected bills. I would look into improving this - so I don't have to worry about those bills anymore or not getting the right care when it's needed. This includes making an account where I put money in for pension years. So when quality of life is horrible; I would have extra money that I never spend that has grown due to interest to help me get personalized help. I don't want to sit in a home in my diaper waiting for my body to just give up and then die. What use is a million bucks, if I end up being unhappy anyway.
One thing I would do to not just improve my life, but also to feel like I am spoiling myself, is to hire someone to do the shoppings for me, sort of a personal assistant - slash - personal cook. Someone that's trained to make wonderful but healthy enough dinners. I rather have great fresh fruit weekly, and a nice dinner in the evening. Knowing the fridge is stocked. I don't need to go overboard with this. I like cooking myself, I like making breakfast for someone. And I enjoy going out for lunch with friends and family to catch up. It's just nice to not have to worry about what to eat, or if it's even in the fridge. Let someone else do that. That knows more about food than me.
Another thing I would spend a bit of money on that I can't afford right now - is to create a budget so once a year (at whenever date) me and friends, or me and family, can go away for a weekend to spend time together. Say, an evening at the casino with some spending money. Or a weekend at a hotel with a pool. Or take a few close friends to Paris (which is 8 hours away from here btw) to get a special dinner and a nice evening out.. etc. Rather than throwing it away at random parties, I want to make memories - but not feeling awkward about paying the bill. (Also, friends enjoy my wealth without asking for money hopefully or expecting it).
And over time, I would spend some money on say improving where I live. Such as furniture, or things in the house. A better bed, stuff like that. But you can do that one thing a year. No need to throw away 250k in 1 year. When you can earn a bit of interest on that 250k first.
I really don't feel I want to spend the money - not even 50% of it. I like the feeling of 'i know I have money' so I don't have to worry. Over the feeling of 'I got all this stuff, it's awesome' and not knowing what the future might bring.
I am not employed, and even going on vacation in Europe here is expensive. Just 250 to 500 for a few days away in germany or the UK is a stress for me. Just knowing I might have pocket money I can use to buy a high speed train ticket and spend a weekend in brussels, is what I would consider vacation. Taking a friend or family member with me is then not much of a worry. I still rather do that, than go on a 5000 to 10k vacation every year 'just because i can'.
I won't buy expensive cars,
I won't buy a house,
or multiple,
I won't buy my family members houses,
I won't pay off the bills for my family or friends,
I won't buy a yacht or big diamond rings,
I won't throw it away in casinos just to feel rich,
I won't get married (biggest cost probably haha).
And despite good intentions I will probably still end up being broke after 3 years.
Thanks because there was no way i was going to read that whole thing.
I like the Vegas idea. I would get 5 or so buddies and roll in style.
Ok I will play.... If I purchased 580 ounces of gold bullion approx value just under a million @ $1700 an ounce would it turn into gold (dust) 24 hours later?
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If I was given a million dollars and everything I bought DIDN'T turn to dust after the first day, I'd buy a new Caddy CTS-V Coupe, pay for college up front and put the rest away...but since that's not the case with this hypothetical, I'd do nothing with it. Why waste the time of spending it if it's just going to turn to dust anyways? I think the feeling of having something & losing it would be worse than never having it at all...
I would live the same life I have now with minor upgrades. I would pay off my car. Live in a nicer apartment and throw the rest in the bank earning low interest. Even with this money It will produce something decent.
The biggest chunk will be traveling the entire summer after I graduate.
The biggest chunk will be traveling the entire summer after I graduate.
I would feed a lot of hungry people and help a lot of homeless people just think of all the people I could help in 24 hrs with a million dollars why think of my self when I could help so many people. that's whats wrong with the world too many people thinking of them selfs think about how greed is messing up this country money is the root of all evil it is not the answer to your needs GOD IS!!!!!!!
