How to spend $1,000,000 USD?

United States
January 5, 2007 7:41pm CST
Say you just came upon $1 million dollars (US currency). This is a significant amount of money and it would open up a lot of doors and opportunities for you. How do you think you would spend this much money? Would you spend it all? What would you do with it? In your response, feel free to account for every dollar if you like, or just say what you would do with it. But please, give it some thought and don't make it a one-word, one-line answer.
3 people like this
11 responses
• India
6 Jan 07
1st $ 200,000 to my parents 2nd $ 300,000 for my new home & Car 3rd $ 100,000 for my wife & kids 4th $ 200,000 will start a Business & give employment 5th $ 200,000 Savings, Mutual Funds, Deposits, Shares ;) ---------- ToT $1,000,000 USD ----------
1 person likes this
• United States
7 Jan 07
I think everyone who hasn't lived an affluent life has thought of this at different times in their lives...what is interesting is that for most of us the things we would do change as we mature. One responder mentioned taxes on the original amount. Depending on how the funds were acquired there may or may not be a tax liability on the initial amount. Almost every responder replied they would take care of themselves, cars, savings, investments, etc...others added family, friends, a couple mentioned charities which of course are tax deductible donations. I believe a subject much like this one was brought up a month or so ago...my reply is the same... Funding the nonprofit I have started, aiding families of addicts and the addicted who seek help. Building a safe place and ways to reintroduce society to those who seek recovery from addiction hopefully reducing culture shock so many feel once they leave rehab. Finding or creating ways for employment for the many who want it. Purchasing houses, remodeling them to offer for sale under terms which are affordable so families can have homes without fear of loss. Riches are not counted in dollars and cents, but rather in the satisfaction one gains from aiding others or in the process of earning those self same riches. What has more value? A dollar or the respect others have for you and the self respect you can help others gain.
@shywolf (4529)
• United States
6 Jan 07
I think that I would invest at least some portion of the money. Then I would like to figure out how to run my own business, so that I could have a job that I really love instead of being stuck in some minimum wage low pay job that I struggle to get myself to get up and go to every day. I would hope to also help myself find a new place to live. I doubt that I would be left with much after all of that! ^_^
@chertsy (3817)
• United States
6 Jan 07
I would pay off my bills. Except the basic of course. Then I would help out my family then invest into into something that down the road, my kids will be able to go to any college that they want to, when they want to and not worry about having money to pay for it all. Then have plenty left over so I can grow old and not worry about everything.
@magikrose (5425)
• United States
6 Jan 07
This is something I have thought about for quite a while now. I would buy a home with a really nice yard. I would get 2 beant new cars, 1 for me and 1 for my husband. I would also set money aside for my kids to go to college if they choose to. The rest would be saved for any future repairs that may need to be done on the house.
@blergh (17)
• United States
6 Jan 07
Donate to countries. Buy things for me. Give some to the people who love me. donate more.
• Romania
6 Jan 07
$1,000,000 USD? i spend like this: a new car a super computer clothes supliments for the gym a new mobile furniture in my room
• Ukraine
6 Jan 07
If I am opportuned to have this kind of money I will spend 90% on investment and 10% on arranging my life.
@soul0629 (95)
• United States
6 Jan 07
Your first 30% will go to Uncle Sam. Therefore, you really only have $700,000. Not too bad for most of us. The question is not "how to spend?" but "how to double that amount?" I believe that is the real challenge. Anyone knows how to spend, even a 6 year old kid. For me, I would first give 10% to my charity and my church. Then, I would invest the remaining amoount in assets that would produce monthly positive cashflow.
• India
6 Jan 07
i think i became mad by thinking of tht , i didnt get a clear image of it coz i really didnt need tht much money for my life but i will make it to anything for me rather thn giving it to anyone as service or help
@runsgame (2034)
• India
6 Jan 07
i will divide the amt into 5 equal parts. one part for my family members one part for myself for future savings one part for charities and societies one part for temples and gods one part to U pleae