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rosa41
08-02-2009, 11:05 PM
I have been thinking about this lately and thought I would post it. It has helped my clarify my goals in life and, I think, made me more successful.

Some one asked me a long time ago "Do you know what you would do with a million dollars if you had it?

She followed with the statment "you'll never have a million dollars if you don't know what you would do with it!"

I was young and didn't really know how to respond. I couldn't wrap my head around 50K much less a number with that many zeros. Over the years, I have always tried to keep that thought in my mind so that I would stay focused. I've read a lot since then and know that most of the people that have millions of dollars, have always done the same thing. Decide what you want...think about it everyday. In other words, focus your thoughts....daily!

I read about Jim Carey at some point. He wrote himself a million dollar check, went to the same lookout spot everyday after work (I think it was a hill over LA) and pictured himself cashing it.

Set a goal, constantly remind yourself of it and you will attain it.

This is what I'm going to do with my first million.

I've known single parents and have really come to understand the huge hardship they face when being a single parent so...
I'm going to start a non-profit business that builds complexes with single-family homes for single parents. The company would help them qualify for the home and would give the parents the opportunity to save money by helping with the building process (learning a trade) if they wanted to. The complex would include courses on managing money and personal credit, educational and job training, aid with transportation and on-site daycare, amoung other things. The goal is to help single parents with all of the hurdles that are in the way of one parent trying to raise a child by themselves, so that they can spend more time with their child and less time worrying about everything else. There is much more to it than that but those are the baiscs.

I've though about this for years and have been studying and learning ever since.

My question is....do you know what you would do if you had a million dollars?

Retire to the Bahamas? Buy lake front property? Build your own house? Start a business? Travel?

I would love to hear other people's answer to this question and anything else that has kept people motivated.

Moderator 1
08-03-2009, 02:32 AM
It actually sounds like a lot more money than it is. You can spend that very quickly. :)

Forum Admin 2
08-03-2009, 03:48 AM
These days you are right. But what is left of it? I would pay off debts, send kids to college, and make sure parents are cared for. I think that spends quite a bit of it :)

volybal3
08-03-2009, 03:52 AM
I am going to invest about half of it in something like real estate. The other half I am going to use to travel the world. There is so much out there I want to see and experience.

Notice how I used the word "am" and not "would" :) this will happen.

gowriter
08-03-2009, 08:07 PM
Pay off a lot of debt.

kent_77
08-04-2009, 12:42 AM
I would pay off all of my debt for sure. Then after that I would buy other things that I have been wanting but never able to afford.

rosa41
08-05-2009, 12:59 AM
OK Mod 1....if you had five million. What would you do with it?

JoyBringsWealth
08-05-2009, 05:09 AM
I know what I would do, set up some investment accounts to keep the money growing, pay off my mortgage, take all my closest family and friends on a cruise, set up 10% in an account specifically to use the dividends for charities and then sit back and continue to work on my work at home business and make more money online!

Ziggy-Zoo
08-05-2009, 02:16 PM
I am going to invest about half of it in something like real estate. The other half I am going to use to travel the world. There is so much out there I want to see and experience.

Notice how I used the word "am" and not "would" :) this will happen.

That goes back to the theory of "thoughts become things" so ....

A few months back laying in bed one night I got out my writing pad and at the top I put ... "Allocation of my million dollars" and underneath listed what the million dollars was going to be used for. One of them was to renovate my house and I even went to the extent of drawing up the plans of what would be done (right down to where the new dish washer would go in the new beach wood kitchen!)

Every now and then I go back to my list and "tweek it" adding a bit here and changing a bit there.

The question for me is not what will i do with a million dollars but more to the point when do i start using my million dollars :)

glindow
08-05-2009, 05:22 PM
I think about my hypothetical million when ever I am in a bad mood and need cheering up. I also think about often on long drives. The basic premise hasn't changed much for several years but here is the rough outline.

Step one: put half in the bank! Gotta be sure to have cash to pay the IRS unfortunately.

Step two: Pay off all of my personal debt. (could do that with about 7000 actually)

Step three: Pay off my families debt.

Step four: Buy a new car or invest a bunch into my existing vehicle.

Step five: Invest a bunch into making our family farm self sustaining.

Step six: Travel! with destination one being Hawaii where I might just buy a
little vacation home.

Step seven: Pay off the evil IRS and if there is anything left treat myself to
something nice.

Give my more then a million dollars and, well, suffice to say a good number of other people will benefit.

And in for the pure sport of it: Winning power ball numbers for Wednesday August 5th will be. 5,16,21,29,35 and well I will let you pick the power ball. If I match more then one of those numbers I will be surprised. And if someone else happens to win big time, would you mind sending me about 8000 dollars as thanks? It would be nice to at least get myself out of debt.

TeeLady
08-18-2009, 05:10 PM
I have a list on my refrigerator of where I'd go and what I'd do -- but first I would pay off mortgages for myself, my parents, and my sister's family. I think housing is the one thing that should be guaranteed (or at least mostly) for everyone. I like the housing complex for single parents -- you go,girl. Good luck with that. I would like to start a non-profit, but I'm not nearly as far in my thinking as you are.

I hope you get your multi-millions soon.

rosa41
08-19-2009, 11:36 PM
Thanks for the posts! I am always happier when I know people are dreaming and they have a plan to get there.

johnjimat
08-21-2009, 04:22 AM
If i have 1 million dollar, i want to make an album :D also i want to open my own shop :p

Moderator 1
08-21-2009, 12:50 PM
LOL Rosa! If I had 5 million dollars, I would pay off our house once and for all and any other debt of course, and then set up a trust fund for our child, buy a new house, and help family who are in need, and then give some to research for "cures" that are close to my heart. :)

How does that sound? :)

Moderator 1
08-21-2009, 12:52 PM
It is good for everyone to dream and have goals to aspire to. It is sometimes what gives us the drive to work hard everyday and do something. As long as you do something - anything, even if it is the smallest amount, you will get there. :)

KitKat
08-22-2009, 05:43 PM
If I had a Million Dollars.... love that song by the Bare Naked Ladies! :D

rosa41
08-24-2009, 02:24 PM
So do I KitKat! Runs through my head more than I would like.

port8894
08-29-2009, 04:27 AM
If I had a million dollars I believe I would invest some of it, pay my tithe, buy a really nice house (I live in Texas so $100,000 would buy a nice house), pay off debts, and give some to my family.

KitKat
09-08-2009, 03:06 AM
I know, Rosa... right?! When I make my first million... I will come back and report what I really do with it... LOL :D:D:D

Andy3568
09-17-2009, 05:15 PM
I think my wife would want some input on this question, but I think I would pay off all our debt first. Then I would put aside some for a couple of vacations: Turks and Caicos and Disneyworld come to mind. Maybe fix up the house, buy a few things, and invest what's left.

Moderator 1
09-17-2009, 07:48 PM
Sounds like a plan Andy! It is a goal that is attainable as long as you put in the work you will succeed! :)

KitKat
09-18-2009, 11:40 PM
Still singing, Rosa....!!!!!!

If I had a million dollars.... If I had a million dollars....

:D:D:D

Moderator 1
09-19-2009, 03:23 AM
Uh oh, you may never get that song out of your head! Not that you want to! :)