Self-Knowledge Question #7: Pennies (lots of 'em) From Heaven

[ng_moonmoth]

Initial post on what I'm doing here.

7. If you inherited 1 million dollars from an uncle you’ve never heard of before, how would you spend that money? And how would you live your life?

I wouldn't spend it. I'd do the same thing I've done with what I already have, which is invest it prudently so the money those investments generate will last me the rest of my life. This will return the personal (not necessarily the monetary) value of the million dollars many times more than merely spending it on the spot would. As for my life, I might do a few more things I enjoy, due to having more money to spend on them -- but I might not, because my "things I enjoy doing" calendar is pretty full already.

Comments

[falena]

You are wise.

I'd probably do the same, except I'd have one lovely trip for my family once a year. Travelling as a family of 4 is pretty expensive.

[ng_moonmoth]

That's the nice thing about doing it that way. It's not too hard to set things up so the income the million earns pays for the trip, and you still have the million to do it again the next year. Not giving in to the temptation to spend it all at once is at the core of how wealthy people who want to remain wealthy think. But it's awfully hard to do that if you haven't had the experience of having enough money to do that.