Free and clear. No taxes to pay on it, no rules about where to spend it or how. What would you do with $1 million dollars if it were handed to you right now, today? It’s a fun question to ask but at the same time, it’s kind of hard to answer, depending upon where you are in life.
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Several times throughout my life, I’ve pondered this question; at several ages, too. When I was younger, it seemed incredible to me to suddenly be $1 million dollars richer. I didn’t grow up in a wealthy family but we didn’t do too badly. Solidly middle class, I would say. I didn’t want for anything but neither was everything handed to me; and because my parents died fairly young, there wasn’t some grand inheritance that happened, either.
Other times later on, I might have lamented having that $1 million dollars as if it would answer all my money troubles and then some. Pay off this, take care of that, bank some of it, spend some more, use a little for this, give a bit of that…
But today it is rather easy for me to answer this question: What would you do with $1 million dollars? At my age, I’m not rolling in it and our family manages as I believe many families do these days – better than some, no worse than others. Could I use an extra $1 million dollars?
Sure! But I’d like to hear your answer first and then I’ll share mine. Take the poll and tell me…
What Would You Do With $1 Million Dollars
No apologies if any of the above answers seem kind of boring to the younger set (or any other age group). My mind set is one of frugality and budget these days. To that end, I’d go so far as to say that $1 million dollars is not a lot of money and if it were handed to any one of us (who hadn’t ever had that much in our hands before) we’d be be smart not to go too crazy with it.
$1 million dollars is not a lot of money.
Seems insane to say but when you consider everything I want to do with it…
So what would I do with $1 million dollars?
Well, I would invest the initial $1 million and live off the interest (for a time to plan some things) and then have a party and invite my family and friends. This would be a going away party of sorts because I’m moving to that deserted island I spoke about up there in the poll.
I’m not quitting my job, however. I’m a writer and I can do that anywhere, most definitely under a palm tree on a quiet beach with my toes in the water is what I’m thinking (with my husband off painting or editing film – his choice, of course).
This, after being smart about diversifying and not throwing too big a party (we aren’t rich, you know…) and setting up funds for some charities but also delving into learning more about non profits in general.
Carefully. Smartly. And not without some serious thought about long term sustainability for my family and for those around me. Not for what it might bring me recognition wise but what it would do for others in the long run.
An important lesson in this September Month of Giving.
You must do what you can, when you can, where you can, and how you can – no matter if anyone is looking or not.
Please Note: I really have gotten to a place where money is not the be all end all in my life. It certainly is better to have it but boy HOWDY can things get complicated with it – as they can without it. I know it sounds all rose-tinted shades to say but I truly do wish we could spread the green paper around a bit more evenly; and if I had more of it, that’s exactly what I’d do!