Can I Get Rich on a Salary was idly wondering what he’d do if he won the lottery. He discussed Shaq’s unique business ventures and how he’s created seveal streams of income to keep him going when he retires.
That sparked my interest. Now, I don’t play the lottery. I don’t like the odds. I would love the money though.
So, if I won a small lottery, say, a net of 10 Million US after taxes what would I do with it?
First, I’d throw it into a bank account that earned interest. Even a simple APR of 1.5% would be enough to live on. I’d pay off the house and my debts which would take a big snap out of the money, but there wouldn’t be any “we have to move” BS going on.
I’d put as much as I could into a tax-protected accounts every year for retirement. I’d increase my monthly stock investments. I’d put about 1 million of it into a “blow me” account. I want a Maserati Spyder and that would be the first thing to come out of that account.
Beyond that? I’d probably quit my job and write full time. Yes, I’m serious. I would not close down the bakery. I’d quit my day job. I’d also write my heart out. Not a blog mind you, but my actual novels. The series of 7 I’ve got started. I need to finish the first book, but I’ve got it all plotted out. I just need time.
Huh. Who knew? I thought I had more pie in the sky dreams for the money. Guess I’ve gotten conservative in my old age.
Well, and 10 million is worth a whole lot less these days.