My dad, despite being frugal, will play the lottery once/twice a year for fun, and it's a question we like to joke about die kicks: "What would you do if you won a million dollars?"
From a frugal perspective, I'm curious - what would you do if you "got" a million dollars? To limit the scope of the question, let's say that you're acquiring 1 million moneys AFTER all taxes/tithing/etc. in order to cover any "mandatory" expenses already that would be required in the situation (inheritance/bonus at work/lottery winning/found on street/telling your cousin Jimmy if you ever won the lottery you'd give buy him a baker's dozen of Ford F-150s)
tl,dr; paying off debt/investments/change of career expenses would be about 985K
This is what I said the last time we talked about it:
- pay off my mortgage (Cost: 193K, Total: 193K)
- do a sweet backflip out of my office window flashing the peace sign saying "Later, nerds" to quit (Cost: 0$, Total: 193K)
- spend 2-4 days "relaxing" - pampering myself with massages, all you can eat sushi buffet, and some good nights sleep (Cost: .5K, Total: 193.5K)
- buy a fixer-upper for my brother and his wife when they move back to the states; it'll be a project for me to fix up (Cost: 150K, Total: 343.5K)
- throw a "cheap" getaway party (perhaps renting some houses on the beach, telling semi-small group of friends "if you can make it here, I'll rent the houses and buy the booze") (Cost: 5K, Total: 348.5K)
- I don't have a huge family/group of best friends, but I would probably find something nice and practical to buy most people in my life, including another all you can eat sushi buffet (Cost: 5K, Total: 353.5K)
- buy a Toyota Tacoma to fix up (Cost: 3K, Total: 356.5K)
- start a housing non-profit to do as my full-time job, treating myself to an all I can eat sushi buffet on the first day (Cost: 300K, Total: 656.5K)
- buy some nicer garden supplies for uniformity and buy a tree for one spot in my backyard (all of my buckets are different sizes... and this slightly bothers me) (Cost: .5K, Total: 657K)
- invest the rest in index funds or other low cost investments (Cost: 343K, Total: 1MIL)
May 09, 2019 at 12:42PM
