Monday, August 20, 2007

What On Earth Would I Do With A Million Dollars?

Believe it or not....I don't tend to sit around wondering such nonsense. Seriously, it would be an utter miracle if this happened. Purely based on the mire fact that I don't play the lottery, don't have rich relatives, nor have a rich, old sugar daddy I won't be rolling in the dough....EVER. However, since I am the type of person to succumb to fun and ridiculous meme's, especially if they make me think or help define a little of who I am, I am humoring Ingrid.


Anyway, the rules are simple:

1- Describe what would you do if you had a million dollars
2- Tag 5 people
3- Reproduce the list of bloggers who have already done this challenge and add your name at the end.

Okay, so I would like to assume that the million is AFTER taxes, because that right there makes it more fun! Even thinking about giving over a third of it to the government makes this particular exercise annoying.
To truly understand my choices you need to know that currently our household is Debt Free Yes, we have ZERO debt. We live in our fully paid off 1500 square foot house that sits on 5 acres. I love it here. I drive a fully paid 2006 vehicle, and hubby has a fully paid 1998 Jeep. We carry no credit card debt either.
So, with those facts, I proceed to spend my money in this manner:
-$50,000 invested for Sugar Bears's education. Hopefully invested well, so that in 16 years it will have accrued some nice interest. My parents did NOT pay for my college education, and I did not qualify for financial aid. I saved all of my money from working summers and I worked while in college. My dad did, however, invest $100 in Gerber stock when I was born and 18 years later I had $5000. I graduated debt free. I feel that I valued my college education much more than my friends who did not have to work for it. I would like for Sugar to shoulder some responsibility for her education.
-250,000ish to build our dream home on the land we already own. We love it here, but a larger newer house would make it perfect. :)
-$40,000 for a newer vehicle for my hubby. He is wanting a new Jeep Rubicon, and I don't remember off hand how much it costs.
-$300,000 invested for our retirement.
-$20,000 to local charities where I can see the difference it makes.
-$30,000 to do some traveling. Ireland, Europe, and somewhere tropical.
-$10,000 to spend on gifts for friends and family whenever I feel like it. I honestly sat here thinking....how much would I give to friends and family. I hate that. Money can really mess up relationships. How to keep it fair? How to decided who gets what? I think it is best to just keep the money out of our relationships. Sure there are some that would hate us for that, but they aren't good friends if that is how they look at it.
-300,000 short term invested so that we could get it out if needed. Yet it isn't meant to be spent carelessly.
-I would quit work, and invest in starting a photography business. I would take classes, and have a studio in my dream house, and practice practice practice. :) If after 2 years, I can not make money at it, I'd find a new job. This way I could be home with Sugar Bear until she starts school.

On a whole, I wouldn't want to blow through it. I would want it to change my life for the REST of my life, not just for a few years. This did surprise me, when I had to really think about how much I would share. I don't tend to feel that I am a greedy person, but I definitely have trouble spending money, and it would bother me to see others spend MY money poorly. I also know just too well, the damage money can do in relationships.

Now if They feel like playing....I tag.
Heidi
Lauren
Keara
Mama Zen
Donetta
What They Do With Their $1 Million.

1. SYH will spend for Family

2. Miche will give to the needy

3. Montessorimum will keepsake

4. Lovely Mummy will spend & save

5. MummyInVain will fully utilise

6. Babyfiona will buy house and open business

7. MonkeyWong will go for a long vacation

8. Emila Yusof will realise her dream

9. Mariuca will open a Perfume Gallery

10.Janice Ng will upgrade house and go for long vacation

11.Hin will blog to donate for charity

12.Bobo will invest in property and let her parents go on a holiday.

13. Adrian will spend it all!

14. Brad will spend all of his money on foolish gadgets

15.Danielle will buy a cottage in the woods and never look back

16. Brown Baron will hold a $17,500 blog contest.

17. Bobby will be on a World vacation forever.

18. Wolfgang will try to live, fix the things that can be fixed with what money can buy, and (hopefully) live happily ever after (feel free to shorten to include only the linked part when you repost please).

19. Ingrid would do the sensible thing financially, then take her family with her and become a globetrotter for six months.

5 Live It or Love It:

Mama Zen said...

I'll play!

Does make you think, doesn't it?

Meghan said...

Wow, you really thought about this, huh?! I say you're missing your calling as a financial planner.

I think this is a cool meme. What would I do with a million... hmmmmm...

Donetta said...

Hi Sweet Heart thank you for your uplifting kindness. It was a challenging day! I'll play along for a good distraction. Focus on some fun:)

Elizabeth F. said...

I think I've done this one before, so I'll just tell you!

I would pay off all of our debt, get a few fun things for the family, support a charity, save/invest. Also, I'd like to pay off the debt of family members as well.

Pam said...

That is awesome that you are completely debt free!

AMEN to college meaning more if you have to pay for it yourself. I worked EXTREMELY hard to pay for more than half of my school bill.

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