Financial Monday Nuggets: How would you spend a windfall of $1.5 million

Credits: Eric Prouzet / Unsplash

How would you spend a windfall of $1.5 million if it fell in your hands today?

Let’s talk.

The time to think about $1.5 million is when you don’t have it because you’ll have the time to allocate and fine-tune its use before it shows up in your hands.

If you had $1.5 million today, how will you utilize it?

We’ve all heard of various people such as athletes and lottery winners who have had windfalls of money literarily. Some by a dint of big and multi-year contracts and or hard work, while others by sheer “luck” falling in their laps only to be “begging” and/or homeless and back to square one within a short period of time; sometimes in as short as a year. I hope that no one reading this post will have such an experience.

So, let’s talk family. If you won $1.5 million, were gifted or “luckily” sign a multi-year contract to its tune or more, how would you spend it?

This post is to steer our hearts, minds, and heads to think and effect a sustainable outcome. How many years will you stretch the $1.5 million to work for you, and your family if you have children?

. . .

Technically, most of us would have made over $1 million in the course of our working lifetime. For example, a college grad starting work right out of college, earning $25,000 per year, and working straight till retirement – p.s. college grads earn much more in the USA, except it’s a sales job base salary which of course has bonuses attached. Others making much more would make the $1 million in lesser number of years. But few, or none, of us have $1 million in total assets. 😓

A paradigm is required to be able to effectively manage money. Your attitude towards (or with) money will often determine whether money flows to and stays with you.

Let’s think on the post’s question today, through the week, and hope that the question stays with us and propels us to fruitful financial action. 😊

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