Long time no blog! Sorry readers, I have been so busy!!! I have several topics I wanted to write about, but I don't have enough energy or focus to write it out (hopefully I'll be less busy soon).
Anyhow, something just came across my mind and I wanted to share/ask you guys.
If you were offered a million bucks, would you quit your job and retire?
If a million is not enough, what would be the amount that you would need to “make” or “have” before you would stop working? Or would you continue working regardless of any amount?
I was wondering what I would do myself.
Personally, I would still keep working because I would be worried about my staff. I am managing a lot of people, so I would probably still work a few years before slowly transitioning to part time or something.
But then I thought about how I would allocate the money, and it’s actually pretty interesting. Most of us probably never think about it because it seems so unrealistic. Some of you may even think a million is not enough because a million can’t even buy a home in Toronto these days (or barely, depending on the area). But assuming you’re not buying a home, and that your lifestyle does not cost too much to maintain, it is still a lot of money.
Personally, I would immediately split $100k into the following:
$10k for me to spend on whatever I want
$10k for my bro to spend on whatever he wants
$30k for my mom to spend on whatever she wants
$30k for my dad to spend on whatever he wants
$10k for travelling around the world
$10k for my close friends + bf (getting them something they want)
Then, I would probably spend:
$70k renovating the house since everything is falling apart. (My family home was built in 1923).
$10k to replace some furniture/bed/appliances
$10k on a family cruise so my parents can experience it at least once in their lifetime
$10k for charity/those in unfortunate circumstances (perhaps split between 20 ppl at $500 each)
Then, I would invest the rest and perhaps purchase a property in the next 3 years. Haha
How about you? What would you do with a million dollars? Would you quit your job? Let me know in the comments below! I would love to hear your thoughts.
Note: I'm thinking in Canadian currency since I'm Canadian.Previous Chapter Next Chapter