What would you do if one day you inherited or won 10 MILLION DOLLARS?
I thought about that this morning as a thought experiment for fun.
What if I just one day woke up to 10 million dollars? What what I do? What would I buy? How would my life change?
After a few minutes this is what I decided I would do.
I would purchase a small to medium sized house something like a 3 bedroom 2 bathroom home in a good area in between the downtown city area and the beach.
This house would have a 2 car garage with space for 2 more cars in the front (I love cars lol)
This house would have a pool and a decent backyard with room to plant some veggies, fruit trees and have a fire pit.
If its 2 story It would be nice to have a view of the city, river or ocean.
It would also have a gate/wall around front of house for more security and privacy.
That’s it really, no huge mansion, I’m not into houses, the house I described above is my dream house.
Because of the good location this type of house would probably cost me 1-2 million AUD
Now what about the rest of the 8 million?
I would buy an exotic car, most probably a Lamborghini Gallardo Superleggera (pictured above) in green, blue or white (Like the wolf of wall street 😉 )
If I didn’t buy the gallardo I would probably by a lambo huracan, murcielago or ferrari 348 speciale, or Ferrari 355 or 360.
I’m a car guy I would probably own all the above but not all at the same time. buy and sell.
Besides the exotic I would have a Nissan Syline R34 GTR or/and a Toyota Supra RZ
Those would be my fun cars.
For every day practicality and for when I want to do something outdoors I would have something like a Tesla model X so I can look after the environment aswell.
So I would own 3 cars. Lets allocate 1 million to the cars.
What about the rest of the 7 million?
I would invest it all in different assets depending on what I wanted to invest it in at the time but for simplicity sake lets say that 7 million invested gives me a 5% return (8% minus inflation) which is pretty reasonable with rent or stock dividends.
This would earn me $350,000 a year ($200,000 after tax)
So I would have my dream home, my cars and 200k a year to play with.
So how would I spend my time?
Right now I work full time because my site makes zero dollars but If I had 10 million I wouldn’t even need to think about making more money so I would quit my job and work on this site full time.
Besides that I would spend the money on travelling multiple times per year and living in different countries for weeks/months at a time, giving money away to charity or helping people in need in other ways (for example pay off my families mortgages) spend the money of experiences and pretty much spend it on anything I wanted or however I wanted.
If i had 10 million I wouldn’t try to become any richer I would just enjoy my life for the rest of my life and If I ever ran into some problems I could just dip into my emergency cash fund or sell some assets.
For me I would spend it all on rich stuff, I invested most of it to maximize my happiness, time freedom and long term passive income! that’s what would make me more happier than spending all of it on a mansion or more cars and other stuff.
How awesome that would be! so that’s what I would do, what would you do? tell me in the comment section below!