I’d buy you a green dress, but not a real green dress that’s cruel!
I wonder how many people haven’t thought about what they’d do if they suddenly came into a large amount of money? It seems like everyone I know has a favorite phrase that begins with “When I win a million dollars I’ll…”, and ends with some philanthropic deed or sometimes a perfectly selfish deed that they aspire to perform. I think it’s a natural human trait to dream of some future fortune, and I’m sure that everyone at some time in their lives has done it. Probably several times.
Me? Yep I’ve done it too. And if said event should really happen (I mean when said event happens) I am determined to not be like the majority of people in that situation who, because of poor financial sense, lose it all. The first thing I would do is pay off my home, and YES I KNOW that I’d be giving up an excellent tax deduction but I WON’T BE PAYING ANY INTEREST EITHER! If for some reason I really wanted to give my money away to the leeches and shit of society I would take out a HELOC. Simple as that.
Next thing I’d do is sock most of the rest away for education and retirement… for my kids. Without a house payment I could work pretty much anywhere and still improve my standard of living, in fact I’d probably start working for myself from home. Maybe dedicate myself more to private investigations and contract software development.
Oh, and the most important thing I would do when that magical day comes: I would tell no one. I can’t imagine anything decimating my financially secure future quicker than a hundred relatives asking for loans or new cars or homes, etc… But that doesn’t mean I’m a prick and wouldn’t help out my family, it just means that I’d do it on my terms – not theirs. If enough remained of my fortune after securing my own family’s future I would absolutely look into the best way of helping out my extended family.
And of course I’d have to build an ice arena, and a ball park, and buy some decent socks and maybe find a hat that fits my big head, and… some dijon ketchups, bwahahaha!