What would you do with your first Million?!

@soleya (1102)
Latvia
September 28, 2007 3:45am CST
I have read a lot of books about how to become successful and rich, and almost in every book it is written that before you become rich you need to know exactly what would you do with all the money, you need to plan everything beforehand. So, do you want to be rich? And do you know what would you do with your first Million $?
5 people like this
23 responses
@maybebaby (1231)
• Canada
28 Sep 07
With my first million I would first take at least half of it and either put it into a high intrest savings account or a very safe mutual fund so that the intrest on it would grow faster. I would take the rest of the money and pay off my house and my mom's car. I would also make all the upgrades to my house that I'm planning on making over the next 5 years.
@soleya (1102)
• Latvia
29 Sep 07
You have a very great plan! I wish that you have your first million really soon!
@maybebaby (1231)
• Canada
29 Sep 07
Thanks. That's very sweet. I hope you get yours too!
1 person likes this
@soleya (1102)
• Latvia
30 Sep 07
Thank you so much as well!
@raychill (6530)
• United States
28 Sep 07
I don't want to be rich. I just want to live comfortably. So If I had a million I'd pay off my bills, buy a house...give my parents some money, and give the rest to charity. Nothing special or out of the ordinary.
1 person likes this
@soleya (1102)
• Latvia
29 Sep 07
ok, I can understand you. But what about keeping some money in the bank to make sure that in your late years when you won't be able to work you would have enough money?
@raychill (6530)
• United States
29 Sep 07
I already have savings.
1 person likes this
@soleya (1102)
• Latvia
30 Sep 07
well, as long as you have savings it is very good!!!
@gwendovere (1283)
• United States
28 Sep 07
I would pay off my bills, pay for my college tuition & put some of the money into my home business. I would save most of it & let it earn interest & provide better for my family. And I would definitely keep my job.
1 person likes this
@tigertang (1750)
• Singapore
28 Sep 07
It's a wise decision to keep your job even if you had a million $ to spare. It ain't the sum that it used to be and being humble and practical will help you keep the money - I mean, it's not about how much you make but how much you keep!
1 person likes this
@soleya (1102)
• Latvia
29 Sep 07
Well, as I am a freedom lover I would not keep the job, because I think that the interest in the bank would be giving me enough money so that I can live without thinking about my future. Maybe I just haven't found the job of my dreams yet.
@smoke_gun (1243)
• Malaysia
30 Sep 07
for the first million of course it would be reinvest to make another million.the reason why rich people always rich is they know how to let money working for them but not they working for money.if want to be rich,learning how to invest is must.
1 person likes this
@soleya (1102)
• Latvia
1 Oct 07
I fully agree with you!!
• United States
29 Sep 07
Maybe make a movie and save some, invest some, and keep the rest as spending money.
1 person likes this
@soleya (1102)
• Latvia
29 Sep 07
wow! making movie is a great idea! I would love to take part in your movie.
• Philippines
29 Sep 07
WEll if i will gt my first million, i will save the half, it will go to bank directly, while the other half, i think i'll use it to travel, wherever's the limit of that amount will get. Travel is my favorite hobby, yet so far, i haven't travelled anywhere that's why i want to spend the half of it, going to beaches and historical places around the world. Hahaha!! Dream on!
1 person likes this
@soleya (1102)
• Latvia
29 Sep 07
I wish you could travel all over the world!
@lgwlong (199)
• China
29 Sep 07
wow ,if i have a million $,i will invest it in housing ,share ,fund, then can keep making me more interest ,at the same time ,i will spend more time to do what i like,for example ,fishing ,exercise,travel...
@soleya (1102)
• Latvia
29 Sep 07
Great! Really wish you to get this first million!
@izathewzia (5142)
• Philippines
29 Sep 07
I will invest it in different industries so I have many options to earn out of it. If it grows, i will continuously invest it. Whatever additional amount it will yields will be use for my children's future. For their daily expenses, schooling, material needs, and career. I am doing my best to have that such big sum of money. I am into business and online programs trying to earn enough amount for my children's future.
@soleya (1102)
• Latvia
29 Sep 07
It is a great plan! I hope you will soon get there!
• United States
29 Sep 07
First thing, hire a financial advisor and put him/her on commission only basis. A well run porfolio of $1 million would yield some $1600+ per month in interest, more than enough for me to live on quite comfortably. If a major purchase were involved, it would be to have a small house on Ocracoke or Pea Island here off the North Carolina coast and a fwd truck annd a boat to fish from. Once I had that I would move there with my mom and fishing and walking the beach would be our busy days. A nice new laptop with wireless access so I could go online there and perhaps a big tv. I would spend the rest of my life just enjoying being alive. Perhaps save for a trip a year to some place we've never seen before. As my mom needs care, I'd like to have enought room to have some good caregiver to live in and provide her with a good salary. Except for the house, most all these things could be paid for with the interest described after just a little wait for invetment compilation.
1 person likes this
@soleya (1102)
• Latvia
29 Sep 07
Thank you so much for sharing your great plan with us! I wish you have your first million very soon, so that you could fulfil all your dreams and you and your mother could live happy and enjoy your life!
@hailie17 (448)
28 Sep 07
I would firstly buy my mum and my gran a big house that they could live in with my younger brother and sister. Then i'd probably buy a bar on the beach somewhere hot and sunny and go and live there with my boyfriend. Wow, that would be the life....i can dream can't i?!
1 person likes this
@soleya (1102)
• Latvia
29 Sep 07
sure!! you need to dream and fulfil your dreams, as I believe there is nothing impossible! I really wish all your dreams would come true very soon!
@drannhh (15240)
• United States
28 Sep 07
I wouldn't want to work at it very hard because I've recently retired and have pretty much what I want out of life, but I sure agree with the idea that people who suddenly find themselves with a whole lot of money that they really don't know how to properly use or manage certainly tend to make a mess of things. I've heard of people who won lotteries and then a few years lately, broke and with their relationships hanging in threads tell the world they wish it had never happened.
1 person likes this
@soleya (1102)
• Latvia
29 Sep 07
yes, I also heard about such sotries, that is why I think we all need to be prepaired. at least know about such things as saving accounts.
@meemingNEW (2228)
• Philippines
28 Sep 07
Lol. I was just thinking of winning a million bucks a few hours ago after I paid for a lottery ticket. Lol. Anyway, if ever I won my first million, the first time that I'm gonna do is go out together with my family. I'll pay for dinner at an expensive restaurant. Also, I won't skip going to church, pray to God and thank him for all the blessings that he have showered upon me and my family. Also, I would stack up my millions in my bank account, separate bank accounts. Then I would use some of it to buy material possessions that I want to have such as gadgets and stuff which I am a fanatic of. Then, I would also treat my friends to the movies, to the beach or any place which we can all enjoy. Also, I would not forget to donate an amount to the church and to some charity to help those who are in need. The rest of the money, still undecided,. :) Best of luck to you!
1 person likes this
@soleya (1102)
• Latvia
29 Sep 07
Thank you for sharing your plans with us. I wish you win your first million in the lottery very soon!
• Philippines
28 Sep 07
I will invest all my first million $ in some income-generating ventures. I mean, all of it. I will not buy anything for personal use, or give away to charities yet. When the money is doubled, I will invest the money again, but this time, I will give a portion of it to charities, I will still not buy anything yet for personal use like house or car. When the money is doubled-again, then I'd buy a property and invest again the rest... :)
@soleya (1102)
• Latvia
29 Sep 07
WOW!!! you really sound like a great investor and future millionaire! Good luck!
@poohgal (6848)
• Singapore
28 Sep 07
Hello there. If I can get my first million dollar (I certainly hope so), I will donate regularly to charity. Then I'll share my money with my family. This money will allow my parents to retire and travel around the world. I will still continue working. However, I will find a job I really like (volunteering related jobs).
1 person likes this
@soleya (1102)
• Latvia
29 Sep 07
Great! We all should find the job of our dreams! Because we spend almost all our life working.
@youless (93073)
• Guangzhou, China
28 Sep 07
If so, I will spend some money, such as eating in a good restaurant, traveling etc. I will save a part of this money and the rest I will invest to something. So probably I can earn more after that:)
1 person likes this
@soleya (1102)
• Latvia
29 Sep 07
Yes, I also think that investing some of the money is the smartest thing we all should do!
• India
28 Sep 07
I have the habit of giving ten percentage of whatever i earn thro' by stock market and thro' online earnings to an orphanage nearby my house.So if ever i have a chance to earn a million i may give still a portion higher to the destitute children.. ofcourse i will definitely retain a portion for my savings and for my family..
1 person likes this
@soleya (1102)
• Latvia
29 Sep 07
Great! I think that the person who have a habbit of saving money is the one who will for sure reach his first million very soon! good luck!
@runsgame (2033)
• India
28 Sep 07
become rich is a dream . getting cash is also a dream which will never happen to any one . first let me get that million in hand then i will decide wht to do with that
1 person likes this
@soleya (1102)
• Latvia
29 Sep 07
well, there a lot of people in the world who have more than one million and it is not just a dream, it can be anyone's reality, what makes you think that those millionaires are better than you?
• United States
28 Sep 07
I'd put at least half of it into a no risk high interest savings account (or accounts), pay off my student loans, and get a house.
1 person likes this
@soleya (1102)
• Latvia
29 Sep 07
To put money in the bank into investment saving account is really very smart!
@sunshine4 (8709)
• United States
28 Sep 07
With my first million~ oh that sounds nice! I would first off pay off my house and my vehicles. This would leave me with no monthly payments. I would then pay off my sisters houses. With the rest, I would take a couple thousand and go shopping. I would next take my family on a vacation to some great island where we can sit on the beach and order drinks from our beach chairs all day long. After all this fun, I would invest the rest.
1 person likes this
@soleya (1102)
• Latvia
29 Sep 07
I love your plan!! I wish you realise it really soon!
@hassanah (387)
• Malaysia
28 Sep 07
I will buy some thing that i cant buy before.Im also will donate some o my money to an orphan and oldfolk house.And i will keep my money in bank.
1 person likes this
@soleya (1102)
• Latvia
29 Sep 07
very wise move! It is always good to have some money in the bank.