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The third portion, I will invest in stocks. It isn’t the ability to buy a bunch of stuff. I could start up another blog or two in other subjects, or I could use some of my sudden windfall to buy up a couple of financial blogs. I’d also avoid any private mortgage lending, barring very promising certain situations.I’d take $100k of that cash and use it for picking stocks primarily for As for the last $200,000, I honestly have no idea. I think Canadian real estate in general is overvalued, so I wouldn’t be putting a nickel into that. The next wise decision would be investing that would give me enough returns for the rest of my life, it would be a lucrative venture or buying some bonds.Somehow made over a million, drive a nine year old car and have a house that is falling apart. Besides, that leaves me with a convenient $300k left to spend.Hmm… What to spend $300,000 on? But if had a million bucks, I’d make it go away. Because what fun is it fantasizing about a million dollars if you immediately lose a quarter or a third of it to But hey, if you have a million bucks just burning a hole in your pocket, call me.I have a mortgage. Then I’d invest about 70% of the total principal in high-quality DIVIDEND stocks (international, domestic and US). And that if you continue with it, you will be, like billions on the planet, comfortable, secure, probably bored, and never destitute.If you didn’t have the job, you’d need something similar — unless your rich wife or dad loves you very much.
Do post your comments below.it\'s a never fulfilling wish till one gets satisfied and on can never be satisfied. At this point, I’m making fairly aggressive mortgage payments for it to go away, but I’m not really in a hurry to pay it off, especially considering low interest rates look like they’re here to stay for a little while. It would still make you penniless in a month.American documentary filmmakers some years ago made a movie called Luck, in which they followed ten lottery winners of $1 million to see where they were ten years later. I’d call it my opportunity fund, reserved for buying some sort of other asset, like perhaps American read estate.So, in conclusion, I’d only spend $700,000 of my $1 million, and barely spend any of it frivolously. I have everything I need, and material stuff doesn’t really motivate me. With that money, one can go mad. I definitely do. I will try not to quit my job until my own business can support itself.I think your plan is pretty good. Your spouse likes nice salons and Calvin Klein perfumes. !I would be sorely tempted to splurge on a huge trip, but I would take that money and invest it in a combination of dividend bearing stocks, index mutual funds and real estate. I’m going to assume the million bucks is an inheritance, or lottery winnings, or something that isn’t taxed (at least in Canada). Since none of you are actually going to give me a million bucks, I guess I’m outta luck.Readers, what would you do with a million bucks? You live in a big Indian city, have a certain standard of living. In movies, in ads, in social status. Making close to $22,000 per year without lifting a finger would take a lot of pressure off having to ramp up earnings right away, not to mention no longer having a mortgage. The singer lists out all the things he’d buy – a house for his lover, furniture, a reliable automobile, a fake fur coat, a tiny fridge with pre-wrapped food, an exotic pet like a llama — ending the song with, “If I had a million dollars, I’d be rich.”
Clearly not long-term retirement planning.In India, that’s Rs 6 crore and after taxes, a lot less. Now, if you tinkered with the premise, that it had to be spent and not on gold bars or items that could be sold easily, my answer might change.I’m too far from retirement. Second potion to plant some passive income. Dance with dolphins in Australia. For reprint rights: The comment section is all yours.Nelson Smith writes about personal finance, investing and all sorts of other stuff at Love the plan! Quick takes, analyses and macro-level views on all contemporary economic, financial and political events.Columns, in-depth analyses and the big-picture view on all contemporary issues having economic, financial and political ramification. Columns, in-depth analyses and the big-picture view on all contemporary issues having economic, financial and political ramification. another c...You seem to have an Ad Blocker ON. Your daughter’s private school fees is what some people live on for a year. And then I would go back to my usual life.I would pay off my mom’s mortgage, make sure I have enough cash to pay my tuition for the next 5 years, and maybe enough left over for my sister’s education.