Develop a life budget and see if I still need to work.
If I dont invest it, 50K a year for 20 years isn't bad. It gets bad if expenses due to inflation strip that after 10 years. So it doesn't look like I can quit.
But I'd have to say, after paying off my debts I would invest the money in a balanced portfolio. I would never take out a loan for anything anymore. I'd also get an annuity so that it would be my income source for paying off taxes and insurance on my property when I am no longer working.
I would probably work until I got fired again.
I'd probably buy some property, because real estate is cheap now.
dull answer, I know. But if you said 2 to 3 million I'd quit my job. A million bucks isnt what it used to be. I wouldn't refuse it though, Poverty level in the USA is roughly 15 K for a couple. It doubles every 7-10 years. Poverty level is nasty. So my initital estimate at a decent quality of life is 40-50K. 15K for a couple is difficult. Apartment rent is say, 800 to 1200 bucks a month... I lived in an 800 buck apartment, not swanky digs. that's not counting utilities or food.
If I had one million dollars fall into my lap like so, I would pay off my credit cards and school loans, and then I would make sure the rest of my family's loans are paid off as well. Anything left would go to stem cell research or cancer research.
Pay off bills, find a smallish gentleman's estate and a few horses for us and a few good friends, and live off interest while I tried to carve a life out of our skills and gifts, music, art, and writing.
Right on - there's something about working that keeps people happy and healthy. It would rock the shit if we work because we want to, and not because we *had* to!
My first thought? Buy 500 registrations for another Wrock the Boat and go to Hawaii! My second thought? Buy land to begin a Teen Behavioral Rehabilitation Outdoor Program/Animal Rescue Sanctuary.
But that whole "investing" thing sounds pretty smart, I guess. I don't have many debts, actually. Just my credit card, and it's not too shabby.
Investing is good, especially for people who are patient and don't mind fluctuations. Then again, with that kind of money, one could afford a few dings and dents in the market :P
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Ok.
Payoff my mortgage.
Develop a life budget and see if I still need to work.
If I dont invest it, 50K a year for 20 years isn't bad. It gets bad if expenses due to inflation strip that after 10 years. So it doesn't look like I can quit.
But I'd have to say, after paying off my debts I would invest the money in a balanced portfolio. I would never take out a loan for anything anymore. I'd also get an annuity so that it would be my income source for paying off taxes and insurance on my property when I am no longer working.
I would probably work until I got fired again.
I'd probably buy some property, because real estate is cheap now.
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This made me gigglesnort! I love it :)
Smart call on the annuity - great way to make your money work for you! And ya can't beat a guaranteed investment!
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If I had one million dollars fall into my lap like so, I would pay off my credit cards and school loans, and then I would make sure the rest of my family's loans are paid off as well. Anything left would go to stem cell research or cancer research.
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Awe, the generosity! You'd be putting that cash to good use - so many would benefit from it and that's some awesome karma working for you :)
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Buy 500 registrations for another Wrock the Boat and go to Hawaii!
My second thought?
Buy land to begin a Teen Behavioral Rehabilitation Outdoor Program/Animal Rescue Sanctuary.
But that whole "investing" thing sounds pretty smart, I guess.
I don't have many debts, actually. Just my credit card, and it's not too shabby.
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Investing is good, especially for people who are patient and don't mind fluctuations. Then again, with that kind of money, one could afford a few dings and dents in the market :P
::BIG HUGS:: Thinking about ya lots, babe ♥
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