What Would You Do If You Have 1 Million Dollars?

By Tuesday, November 8, 2011 0 No tags Permalink 0

Sometimes I joke to friends who play the lottery saying that 1 million would be enough for me. But would it? I think getting one million would be amazing without having to work for it, but I am not sure I would be satisfied. Crazy, right? I would want to buy a nice house, but wait, that’s expensive to maintain. So I would want to buy a nice business – but you can barely get anything for part of that money – and keep some money just in case it all goes kapoof!

2012-06-03 13.30.11The truth is I would definitely use some of the money, probably half, investing on real estate/bonds that will lead me to a financially free lifestyle. Then with rest, I would work on either opening my own company, probably something in the technology area, or manufacturing, and work towards growing that business. Since I absolutely love micro-financing and investing in tech companies, I would maybe become an angel investor, if this money ever multiplies. Money first needs to be made, then spent and my first efforts would focus on multiplying my million.

I always ponder on the lottery winners who squander their money rapidly without thinking about a safety net. Even sports players and celebrities are to be found in poverty with bad money management since most have very short careers. And I always say: that would never happen to me! But once that money is in your hands, I can just foresee how easy it is to get carried away and how important it would be to have a financial adviser assisting in my decisions.

So in conclusion – try to multiply this money and create a continuous, recurring revenue, so that my dreams of traveling and entrepreneurship can be followed and fulfilled.

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