If you won $5,000 a week for life, would you invest the money or live high off the hog?

Question

I know my bills would be paid in full. But, I would have to invest some because my kids would always be asking for money everytime I turn around.

Answer 1

I would invest some but I'd also do the same thing that you'd do. I'd pay all my bills off. What I'd probably do it after I paid all my bills off I'd spend the $5,000 for a couple of weeks. I'd love to take a trip in a motor-home to see the sites here in the states. Then after I got home, I'd invest the money.

Answer 2

I suspect at first I would start spending the money like water, but at some point at 5,000 a wk that would be 20,000 a month 240,000 a year I would begin to have to save it and invest it. I mean how much stuff could I realistically own. If you didnt save some of it you'd eventually just be getting junk and why waste all that money.

Answer 3

Develop an investment/splurge schedule: invest $5000 conservatively, splurge $2500 on clothes for my household, and donate $2500 to charity every month. That's two weeks of spending. With one of the weeks of 'pay', I'd use the cash for day-to day purchases and expenses for my household. Money from the final week would be used to pay off all my debts and the debts of my immediate family- mother, two sisters, one neice. Once our debts are paid and the final week of pay becomes extra money, I'm living high.. celebraity parties, ridiculous shopping sprees,.. the possibilities are endless!

Long term, I'd start college scholarship programs in my father's and late husband's names for underprivaleged or orphaned children and middle income families (boy, gov't must think we have dough to sit on 'cause we take it on the chin in not qualifying for a lot of programs out there!).

Answer 4

Have to invest a bit each week because inflation might go through the roof later on in life and 5,000 might be almost worthless.

Answer 5

With the way this economy is I would invest my money for my children so when they grow up I can buy them a house atleast that would be one less thing they would have to work at getting.

Answer 6

I would put 1/3 of it in savings each time and then just spend as much as I could in one week. Which should take less than a week.

Answer 7

Well surely if i am getting it every week - and for life - then really i wouldnt really need to worry about 'investing' that much..

so hog away!!!!!!
(especially if i am goin to get it when i am down here and convert it to my local currency)..

Answer 8

Invest and live off the profit.

Answer 9

High off the hog. Like a pig in grease, baby!

Answer 10

Invest half. Use the other half to make improvements to my house and buy a car (hybrid to save on gas).