If you suddenly became a millionaire....

[The Budget Man]

Re: If you suddenly became a millionaire....

If I suddenly became a millionaire. I guess that means that this is cash over and above what I currently have. Wow that would be great.

Firstly I'd keep it quiet. I want to keep the friends I have and not attract the friends for the wrong reasons.

Then I'd be able to invest half, take on the projects I've had on hold and give money to the causes I've always felt needed more.

Since I've been around too many people who have blown the

Enjoy Your Money
The Budget Man

https://www.PersonalityBudgeting.com

A budget for all situations

[tgavin71]

Re: If you suddenly became a millionaire....

If I suddenly had a million I would pay off the house, rent out the house, invest the rest in income producing assest and then hit the road. Travelling around Australia first then head overseas. Any fair weather friends would have to find us first!

[Ima saver]

Re: If you suddenly became a millionaire....

I would like to share it with some of you!

[Broken Arrow]

Re: If you suddenly became a millionaire....

Ima, if you're trying to be the most popular person on this board...

it's working!

[Thrifty Ray]

Re: If you suddenly became a millionaire....

Id repeat these words over and over....

no dont pinch me, let me sleep, I dont wanna wake up.....

[Broken Arrow]

Re: If you suddenly became a millionaire....

Haha. Funny, Ray.

[Ima saver]

Re: If you suddenly became a millionaire....

I would throw away my holey moccasins and buy new ones!!

[melissalt]

Re: If you suddenly became a millionaire....

I would first pay off my bills and then look for a great financial advisor (who would probably tell me NOT to do what I would do next :-)) After that I would do something I've always dreamed of doing -- buying a small apartment building and creating a transitional housing program for single mothers. The program would include counseling in everything from budgeting to parenting to interpersonal skills so that the women could begin to build their lives with support from others in the same position, eventually moving on as contributing members of society, and hopefully mentoring the women who follow them in the transitional housing.

[Broken Arrow]

Re: If you suddenly became a millionaire....

After that I would do something I've always dreamed of doing -- buying a small apartment building and creating a transitional housing program for single mothers.

That's a very noble cause. Is that inspired from a personal experience of some kind?

[melissalt]

Re: If you suddenly became a millionaire....

Is that inspired from a personal experience of some kind?

Not mine personally, but I did work for a non-profit that had a program like that, although I did fundraising and event planning. There was something like a 95% success rate among the women because they had safe childcare, support, and learned the skills they needed in a safe, but controlled (meaning part of the deal was no stay-over boyfriends, and they had to agree to a random drug search if suspicion arose), environment. It was just a two year program too.

[BCHGRL]

Re: If you suddenly became a millionaire....

Wow! Melissalt has very noble plans and IMA is going to throw us all a money party! Count me in!

Hmm. . . hubby and I would pay off mortgage, rent out current house, buy dream home then invest the rest. I'd love to spend a month in Europe. We have some friends in various European countries so we could still do it frugally.

I don't worry about fair weather friends. Working in an office environment, I have mastered a skill that I am very proud of - detecting suck ups from 3 miles away.

[getforfree]

Re: If you suddenly became a millionaire....

We would upgrade to a bigger newer house, paid off.

I don't want anyone around to know about it, even my siblings and parents, because I don't want to share with anybody.

I would still save every penny and clip the coupons.

I would invest the rest. I would let my dh quit his job, and I would get a ft job instead of pt that I have now, so he would stay with kids. My paycheck would be enough if we won't have mortgage anymore.

[disneysteve]

Re: If you suddenly became a millionaire....

As we've discussed in other threads, a million isn't as much as people think. It isn't enough for me to retire, though it would certainly help the cause. If I got a million free and clear, I'd probably invest almost all of it. I'd probably take about 20K to replace my car and set aside another 20K for when it is time to replace our van. I don't think I'd pay off the mortgage as I can earn more by investing the money. I think we would continue everything pretty much the same but with the knowledge that we'd shave 5-10 years off our working lives and be able to retire sooner.

[greedy4chips]

Re: If you suddenly became a millionaire....

I would first pay off my bills and then look for a great financial advisor (who would probably tell me NOT to do what I would do next :-)) After that I would do something I've always dreamed of doing -- buying a small apartment building and creating a transitional housing program for single mothers. The program would include counseling in everything from budgeting to parenting to interpersonal skills so that the women could begin to build their lives with support from others in the same position, eventually moving on as contributing members of society, and hopefully mentoring the women who follow them in the transitional housing.

Why not single fathers too?

As for me I would simply invest in a few gas stations and hire melissa's single mothers to work!

[meaghanchan]

Re: If you suddenly became a millionaire....

I would buy a building (or part of a building!) in New York City. Not necessarily Manhattan; I'm sure I could get a nice two-family house in Brooklyn or Queens for that much. Live on one floor, rent one floor out. I'd keep working where I am and not change too much about my life, generally. It would be nice not to have to worry about rent increases and landlords, though I guess those worries would just be replaced by worries about leaky roofs and plumbing crises!