I recall that a number of years ago, when I was teaching young adults subjects that would help them gain employment, that there was a class exercise about winning a million dollars. There were some restrictions – for example, you could not spend all “your” money on a house, and you had to spend it all, without just saying “invest the rest”. You had to spend it – preferably wisely. Of course, it was a lot of fun dreaming about this “new found wealth” – but few of us could really spend the money.
People often dream about winning a large sum of money – it is why so many people “invest” in lotteries, or gaming machines, or gamble on horses or other sports. Though of course wealthy people also gamble to gain further wealth.
As well, we ae probably all received an email announcing that we have won a huge some of money - clearly some stupid scam that sadly some people fall for.
As well, we ae probably all received an email announcing that we have won a huge some of money - clearly some stupid scam that sadly some people fall for.
Still it is a fun exercise to determine how you would spend this great sum of money. I don’t recall what triggered my memory of this today. Perhaps it is my deep down wish to fantasise to see what I would do if I did find this wealth that would change my constant concern about my finances.
I grabbed a notebook and a pen and wrote a list of things that I would spend such a sum on.
So what did I write? What did I put on my list?
1. A home for me. I want a house or unit that I have control over – as opposed to the restrictions and never ending rental payments. I have no specific plan of where this place might be. I am betwixt and between. I’d like to live at Beachmere, but know that at some time it will be impractical to live so far from my family – especially as I am solo these days.
How much did I allow for this? $350,000
2. I have a healthy workable car that I love – but I’d like a new one. One with a few fancy things that my current one doesn’t have, like a built-in GPS, and reverse camera.
How much? I did allow $50,000. Perhaps a mite too much for what I really need….
3. Travel. I would love to travel to Europe and the USA especially, and as I enjoy solo travel I have allowed extra for first class travel and single supplement. Maybe I need more – but for now I have allowed $50,000.
4. Computer. I do need a new computer – but do I need to allow $2,000? Maybe. $2000.
5. I have a great Canon SLR – but technology changes quickly. I would like to set off on my travels with a new camera. I would probably still consider a Canon, but will have a good look at the alternatives. I am aware that the cameras are heavy, so this will be a consideration when I do my research on a new toy. I have allowed $2500.
6. My new house (Item 1) will probably mean I have to buy some new furniture. I don’t need much, but it would depend on the size and layout of the new abode. Current thoughts? Maybe $5000.
7. Clothes. Now I am not a big spender on clothes and I find that clothes buying can be very frustrating. I am tall, big, and I with my long legs and long arms I am often a frustrated clothes buyer, but with additional funds I could venture to more classy stores that just might have what I need. I am no longer hooked on fashion – comfort is more important. Would $5000 be enough to get a good basic wardrobe? Maybe.
With all the above the total is $464,500!!
I would find it hard to spend a million dollars. To use up a whole million dollars would be challenging for me – though of course if it did happen, I could be more generous in the travel, and clothes department and I could make donations to family and charity without hesitation.
I guess we have all read/heard stories of people who have won huge amounts of money and through bad management and poor choices have ended up almost penniless soon after. I guess if I was much younger I might have a bigger shopping list, but at my age I expect I would have trouble spending a million dollars.
The chances of it happening are – well, as good as anyone’s, though I don’t gamble on poker machines, or horses or sports. I do sometimes take a ticket in the Golden Casket. As they say, you have to be “in it to win it” though my irregular ticket buying and low financial commitment make it all almost impossible.
Still, I can dream.
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