I don't play the lotto, and it seems people who do, never count on actually winning a substantial jackpot. CBC recently covered a fellow from Cagary who won nine million bucks and posited "What would you do with $9 million" in their Facebook link to the article. Always fun to dream!
Of course the first thing any rational person might do is eliminate any outstanding debts. Many people claim an intent to give to the less fortunate. I would not give a single cent of capital to a charitable organization - I'd sooner found my own charity. Fortunately for me, I have no monetary debts.
First I'd buy a used Mercedes Benz in good condition. Nothing too expensive. The 1988 560SEC pictured below can be had for just $45,000. I prefer vehicles produced prior to the era of computerizing automobiles, and this unit has only 48,000 km on the odometer. I'd prefer it in black, but it seems like one heck of a deal.
Of course I'd need somewhere to park my car, so I'd probably look around for a something with a garage. Here's a lavish pad listed for $2.25 million. Something that would easily accommodate a multimedia studio of my own design. With five bedrooms and five baths, having friends stay a weekend would never be an inconvenience, but the property taxes would likely be outrageous. It wouldn't surprise me if such a property included a safe. I'd fill the safe with precious metals and emergency cash. 600 ounces of gold, and around $20,000 in Canadian and US tender. Reasonable?
There's no doubt I'd need a serious income to maintain my new lifestyle, which is why I'd purchase a small liquor store. I'm thinking that even in the worst of years, a busy little booze mart could easily generate a net profit of around $70K - more than enough to cover my new home's utilities, maintenance concerns, etc... I think. Plus, I'd get a discount on spirits and wine which would be a substantial fringe benefit if you drink as much as I like to. I imagine the cash flow would be steady, but it's not exactly a license to print money, so finding a top notch manager would be a priority.
Next I'd speculate for a small parcel of undeveloped land somewhere in the northernmost part of the province. Why? I don't really know. It just seems like something that might come in handy some day. Something that I could fit a private runway on, because I would likely take-up flying. I wouldn't buy an aircraft until such a time that I felt exceedingly confident about my long-term financial resolve however.
Here's a rough outline of how I'd allocate a portion of the winnings:
Of course the first thing any rational person might do is eliminate any outstanding debts. Many people claim an intent to give to the less fortunate. I would not give a single cent of capital to a charitable organization - I'd sooner found my own charity. Fortunately for me, I have no monetary debts.
First I'd buy a used Mercedes Benz in good condition. Nothing too expensive. The 1988 560SEC pictured below can be had for just $45,000. I prefer vehicles produced prior to the era of computerizing automobiles, and this unit has only 48,000 km on the odometer. I'd prefer it in black, but it seems like one heck of a deal.
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| Auto Trader |
There's no doubt I'd need a serious income to maintain my new lifestyle, which is why I'd purchase a small liquor store. I'm thinking that even in the worst of years, a busy little booze mart could easily generate a net profit of around $70K - more than enough to cover my new home's utilities, maintenance concerns, etc... I think. Plus, I'd get a discount on spirits and wine which would be a substantial fringe benefit if you drink as much as I like to. I imagine the cash flow would be steady, but it's not exactly a license to print money, so finding a top notch manager would be a priority.
Next I'd speculate for a small parcel of undeveloped land somewhere in the northernmost part of the province. Why? I don't really know. It just seems like something that might come in handy some day. Something that I could fit a private runway on, because I would likely take-up flying. I wouldn't buy an aircraft until such a time that I felt exceedingly confident about my long-term financial resolve however.
Here's a rough outline of how I'd allocate a portion of the winnings:
All that, and I'd still have around $4.64 million in cash. This would be a splendid amount for a trusted financial guru to work with. I'd want it set-up in such a way that the principal is as secure as possible. I wouldn't know where to begin, but I'm guessing it's not unreasonable to expect such an amount could generate at least $50K per year through investment dividends, and even swell to double the original amount within ten years if provided shrewd and careful management. Only after an upward trajectory is clearly apparent would I begin to consider things like philanthropic pursuits or travel.
So there you have it. This is what I would do with $9 million. What would you do?
So there you have it. This is what I would do with $9 million. What would you do?
