If someone handed you a check for $1,000,000, what would you do with the money?
I was just watching on the CBS Sunday Morning Show, a segment about a 1955 TV show that highlighted, weekly, a rich man who gave one million dollars to various people. Once a week, the show would discuss the person (or couple) who got the check and what they did with the money.
In 2014, $1,000,000 is not what it was in 1955. A few years ago, one of my co-workers won $1,000,000 with a scratch-off lottery ticket. He took a 20 year payout, which, I calculated, after taxes gave him about $33,000 per year. Not enough to quit work over, but a little “bone” annually to help out, take a trip, buy a car, or invest.
I would probably buy a house and invest the rest. I could not quit work. Right now, for me, for the most part, if I need something I can afford it on my salary, so the million dollars would be “icing on the cake.”
What would you do if someone handed you a check for one million dollars?