If I had a million dollars…

That song has been stuck in my head for a few months now.  I’ll be driving down the road to work or mopping the floor and will start humming or singing it out of the blue.  It’s made me wonder though… What WOULD I do with a million dollars.*  Would I spend it all in a day on a fun whatever-I-like-that-I-see-I-buy kind of day, or spread it out over a few months?  Would I invest it all and build up a killer savings and retirement fund?  Would I donate it to help charities or other good causes?  So many options!

Here’s what I think I would do.  I would take half of it and buy a decent 3-4 bedroom house and furnish it.  I’d also splurge and get the scuba gear for both Xan and I that we have been wanting.  And then, I would consider buying a summer house in Greece.

Then, on the money that we would be saving on rent, since our house would pretty much be completely ours, I’d be able to up the monthly donations, squirrel away a bit more into savings, and every now and then have enough saved up to go visit our summer house and scuba dive around the world.

What would YOU do if you had a million dollars.

*Tax-free million dollars  🙂

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3 Comments

Filed under Food for Thought

3 responses to “If I had a million dollars…

  1. The problem with “buy a bunch of real estate” is that you didn’t set anything aside to pay property tax year after year.

    I was playing with this idea a while ago. I would invest a good chunk into a very low-risk fund that would increase my income by 5 per year (plus the tax to pay for the increased income). That can be used for travel every year, for a new computer every few years instead of every several, not to mention the security of knowing it’s there (Joy’s big item). We are squirrels, Joy and I, so a lot of it would end up saved for one purpose or another.

    But the point is spending it. People who invest are boring. Say we can’t invest and we have to spend it all in a year. Okay, we’ll go ahead and move up to somewhat better housing (about to the point that tax=land rent we’re paying now?); get a new car so that when our current one dies, we’re ready to go; set up a charitable fund for developing country work – maybe microfinance, maybe research funding, maybe scholarship, maybe build roads, maybe piggyback on the Gates; live in Africa for a while (not as tourists, as residents and researchers); secretly pay off my brother’s school debts. When I really press Joy, she’ll consider buying a horse for a little while (sell him again later).

  2. Adopt another baby or two, or three, or four, or five. And get a mini-van along the way.

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