Day 26: If you had $1 million to spend, how would you spend it?

First of all, I will never possess that much money at one time, but if I were to come into a great fortune, I would break down my spending as follows:

  • I would tithe to my local church, but since I would definitely be feeling generous, I would give $200,000, which brings us down to $800,000 left.
  • The government would take its taxes (~$350,000), and then I’d be down to¬†only $450,000 left.
  • Pay off my student debt! That would allot for ~$18,000 for my undergrad loans and ~$25,000 for my graduate studies, which brings us to $407,000. There’s a whole lot of money left!
  • I’ve always been told to invest in real estate, and the housing market is slowly moving up again, so let’s say I’d buy some property. There’s a decent sized townhouse in our neighborhood that’s going for $285,800. I’d buy that because why not, and then I would have $121,200 still ready to spend.
  • Then I would buy myself a Happy Meal at McDonald’s (~$2.79) and put the rest ($121,197.21) into a savings account with really high interest.

And that is what I would do with $1 million.

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