If I Was Given X amount of Money, I Would….
I’m sure we’ve all played the “If I won the Lotto” game. You know the one we all play when there is an obscene amount of money up for grabs.
I want to know, “what amount is deemed life changing?”
Famously Chris Evens of British BBC Radio celebrity gave away £46 million back in 2000! Quoting “£5million is all anyone should have in the bank”.
Pope Frances has stripped back the lavish embellishments of his office. Choosing to spends most of his days in his ordinary clothes. Let’s be honest, he does not have to worry about where his next meal is coming from.
So how much do you think will change your life (assume you’d want it changed for the better ;-))?
What would you do if you won;
- $100,000? – Pay off debts, set up children’s accounts*, invest in your business, take a holiday?
- $1,000,000? – Pay off Mortgage or buy a new home, Travel 1st class to a couple of destinations?
- $5,000,000? – Buy a couple of properties, dabble in rentals, not have to worry about income again?
- $50,000,000? – Giveaway loads, invest in start-ups, learn to fly, stay in all these hotels (these look amazing, going on my hit list)?
I pose that it’s not the amount of money, but more about what you do with what you have.
I’m not talking cash, I’m talking mindset & actions (yep broken record). Tim Ferriss best-selling author of 4 Hour Work Week has put together a really nifty piece with all the tools to sort out Ideal Lifestyle Costing which opens up the possibilities of living a limitless life now. Highly recommend all of his books & no I’m not an affiliate.
*Whilst writing this I was thinking of Bank Savings/Share Accounts such as Trust Funds etc, but during my research (I was looking for international solutions, having readers & clients all around the world) I came across Khan Academy and thought that this could be a really worthwhile account to set up, the gift of education for all children.
If you look through this blog you’ll notice a lot of links…the links included are there to help you get the Millionaire Lifestyle Now. Happy Exploring.
Now for you: What would you do with $100,000? Comment below. I can’t wait to read these answers 🙂 Remember to share this with your followers to add to the discussion.
Only just come across this AJ but I think I would pay off the mortgage and clear debt, set my kids up with a home each invest for my granddaughter and future grandies, and then my hubby and I would really like to do some charity work abroad and perhaps have children in unfortunate positions stay with us for a respite each holiday 🙂
Great post AJ. I’d use the “extra” money wisely. I’ll invest and grow it. However, money isn’t the end goal. It’s the time that I could spend with my family using that extra money 🙂
Firstly I’d pay off some debt that I have, then a bit of a holiday and then after setting a little aside for the kids I’d invest in the business. In my youth I’d have probably been completely decadent and blown it all on having fun, which is probably far more interesting.
Hmmmm this is a great post. I have always been that person wanting more and aiming higher which is a great thing to a point, but lately I have been reminded that it’s the journey that counts not the destination. I have decided that a balance between striving for more and having fun is essential. So back to your question I would pay off the mortgage and have a family holiday, which would combine fun and being sensible.
Sounds very balanced Rebecca:-)
For me money isn’t the ultimate goal, money is a means to live and a necessity to buy what we need to survive. If I had 100,000 I would probably just pay off the mortgage. For the big big $$ I would have enough so my family wouldn’t have to worry financially and use the rest to do something really worth while- provide school lunches for low decile schools or something. I am not the kind of person who sees my self worth as my bank balance I actually find having money more stressful than just having enough. Having enough is fine by me 🙂
I love the providing lunches idea Robin…something so over looked & it’s interesting that you say more money is stressful. x
Hmmm…this game is fun! I think I’d invest in more property and then just travel all over the place! Most of my money goes towards travel at the moment and I hope that never changes!
I love that you are spending the most on what you love Rosie…perfect 🙂
We are debt free so I would invest it and give us some more income to make some of the extras we want come quicker.
I play this game on a weekly basis! To me a life changing amount isn’t a determined figure but enough to be able to live off while still working and knowing that the bills are paid, the kids are happy and we are able to do things on a whim. I would like to set up a trust fund for the kids to buy a house when they are old enough (at least just the deposit) but if they are taught well when it comes to money and the importance of earning it, then they should be ok if we don’t have one set aside.
For a lot of people money seems to be the goal, when really it should just be a tool to help you achieve the goal…no point being the richest person in the cemetery but providing a roof over your children’s head, now that’s a good goal Melissa:-)
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