what will you do if u get 1 million $ ..........
By dakshpandya
@dakshpandya (109)
India
February 14, 2007 2:15am CST
hello every 1 lets c how good u r at spending your money
wat if you win 1 million $ lottery overnight
how you will plan to spend or invest it
5 responses
@dakshpandya (109)
• India
15 Feb 07
i will invest half of it in property
25 % in stock markets
and spend 25 %
@BlaKy2 (1475)
• Romania
15 Feb 07
Winning the lottery is not something that a lot of us will be able to do anytime in the neat future, and that's probably a good thing. A decade after the average person win's the lottery, they're bankrupt. People start spending uncontrollably and think they have all the money in the world, when often times the amount of money they won is not much at all. When the average person wins the lottery, they buy a whole bunch of stuff they don't need, fancy cards, nice houses, and the like. If you were suddenly blessed with a million dollars, would you just blow it away like most lottery winners do, or would you be wise with it?
Most of us would like to be wise with our money in the event that we were blessed greatly with a large sum of money, but if we were to get a bunch of money, what would you even do with it? Let's pretend that you are blessed with one million dollars, what should you do with it?
First and foremost, if you are a Christian, you should give 10 percent of the million to the local church. God commands we Christians to give a tithe to the church, and we should do that. If this is to happen, you should call up the church's business manager and have a meeting with him or her. Be sure to let them know that you want this to be absolutely confidential, because people will treat you different if they know you have that much money. This will probably be a great blessing for a lot of churches as well, but keep it anonymous!
Secondly, you'll want to pay off any debts that you have. You might have a home mortgage, a credit card, a car payment, just go ahead and get rid of those as soon as you can. They're not worth your time any more now that you actually have some money! Let's say that all of your debt combined including your house adds up to $200,000, so we've spent $300,000 so far.
After you tithe and pay off your debt, let's save some money. If you have children fund their college education, and otherwise save money for retirement. You should probably save at least half of your million for this. If you save $500,000 in good mutual funds for 25 years, you'll have 8.5 million dollars to retire on. That's more than enough!
We've got $200,000 left to work with. You can give $100,000 of this away to your favorite charity, because if you are blessed, you should be able to bless others. Be sure to pick out a good charity too, one that has very low overhead. Finally, it's okay to have fun with some of your money, but keep it reasonable. Feel free to spend $100,000 of it on anything you'd like, have fun with it!
@cdparazo (5765)
• Philippines
14 Feb 07
Having instant money is a problem and a responsibility too. i may refrain myself from touching any of it for, say, a week, just to let myself get accustomed to it and plan on what to do. Instead of spending it right away, i may try to let it sit in the bank for awhile and give the 10% back to the community or to the church
@sandgroper1 (629)
• Australia
14 Feb 07
I would invest $750 000 in different mining ventures in Western Australia then i would pay off the majority of my house loan and spend a little money on my family. Once the cheques start coming in from the investments then i would go on a holiday some where like Queensland or Darwin and Broome.
@hendro1982 (39)
• Indonesia
14 Feb 07
I will buy a penthouse at BALI and shopping..shopping..shopping, last but not least....clubbing...huhauhahahhahha...... i wish ;(