Ok let say you achieve you first pot of gold... What will you do with it?
I had already plan out what I will want to do with my first million dollar like so many years back and till today the agenda is still the same. So what will I do with this sum of money then?
- Buy my dream car Audi A4!!! I am not really a fan of super cars so an Audi A4 is good enough for me. Giving me the class and elegance I wish for from a car.
- Buy a condo as an investment property and rent it out while waiting for capital gain.
- Spend about $100k to pamper my wife and son by bringing them to travel to Japan and Korea, a place which my wife and me had been wanting to visit many many years ago.
- Finally using another $100k to start a small business which my wife can manage and help occupy her time with while earning some income as well.
I know some of you will be asking why I not donating to charity. Well I dun really like giving money as a form of charity but rather I would contribute effort in term of community service etc as I find that more effective than just donating money. It also provide a form of education to my son that we should give back to the society whenever we have the chance to.
Ok enough of me so what about you? What will you do if you have $1 million dollar?
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To be or not to be, there can be only one
7 comments
1 million dollar in Singapore actually not much leh, maybe can retire earlier, provide better standard of living for family, etc.
But if don't need the money, can use it for more charitable purposes like building schools in impoverished countries.
Ya I agree. 1 million not alot but to have 1 million at hand is something which I had yet to experience
http://thewealthjourney.blogspot.com/2010/10/what-will-you-do-with-1-million-dollar.html
This is what I would do .:)
Hi wealth, well said. I am also following the invest if possible rule now cos to this 1 million I am still very very far.
Seriously I dun know if I really can spend what I mention here when I really really achieve this first pot of gold :)
I hope you resist the urge too :)
Avoid touching the capital for the 1st 6mths after you hit the target and think long and hard what you really want to do with it.
I'm sure there are countless examples in the media of people spending their 1st pot of gold and then found the pot is not infinite and what they spent is not giving them any capital appreciation/income to sustain any future activities with the loved ones.
Ya 1 million is not alot but is a life changing amount.
Primary objective for me now is to get the 1 million first :)
My experience is that if you earn or invest to reach that 1 million goal, life will not change much. I also share this in my blog.
http://propertysoul.com/2010/10/28/why-work-so-hard-for-properties/
If you strike a 1 million jackpot, you will spend it fast. It just gives you some experiences in luxuries. For most people, they will be back to square one.
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