Many of us have dreamed of what we would do if we were given $1 million. But have you really sat down and figured out what you would do? Let’s assume that you are given, or win $1 million after taxes. What would you do?
Here’s what I would do…warning, boredom ahead!
Pay off debt – Every extra dime that we bring in is going toward this goal, so that wouldn’t change.
Pay off my parent’s debt – That still wouldn’t repay them for all that they’ve done for me in my over 3 decades on this earth, but it’s a start!
Give much more than 10% to my church – One of our strongest motivations for getting out of debt is supporting our local church!
Retire – Well, sort of. I would focus more on this site and my consulting business. This would free me up to get the necessary certifications and full-time experience to become a financial adviser.
Save – I would fully fund IRA’s for both of us, and put aside 1 year worth of living expenses.
Take an extended vacation – We love to travel, but we hate debt even more, so we are usually limited in our options. We would probably go somewhere (or a couple of places) for at least a month!
Buy a new laptop for my wife – Her laptop is so beat up and run down – I would have no problem replacing it!
Buy a house? – I think I would need more than $1 million to do this. I detest mortgages, so if I wouldn’t have enough left over to pay cash, then we’d wait. I have no real desire to own a home (I haven’t been fooled by the “pride of ownership” brainwashing), and would only do this so we could better help out family if they needed it. I honestly don’t know if I would rent or buy in this case!
So, there you have it. That is my boring list.
How would you spend your $1 million?
© 2010 – 2013, KNS Financial, LLC. All rights reserved.