2006-10-27 16:24:16 · 13 answers · asked by wiseornotyoudecide 6 in Business & Finance ➔ Personal Finance
I would NOT do any of the following: 1) tell a lot of people that I had it, 2) blow it, 3) invest it in something I didn't understand, 4) use it to buy a business in which I had little or no experience, 5) keep it in some form that could not at least keep up with inflation (cash, taxable money markets, CD's, etc), 6) invest it all in a single class of asset (stocks, real estate, bonds, etc), 7) use it as an excuse to stop working and to withdraw from life. I've seen wealth, especially of the 'sudden' variety ruin lives when people have broken these rules.
2006-10-27 16:34:54 · answer #1 · answered by polyglot_1234 3 · 0⤊ 0⤋
I would not spend it on consumables...ie cars, vacations, clothes, services. Most of us don't have access to that amount of cash on a regular basis, so, if you do, you need to make it PRODUCE. I would purchase appreciating assets like real estate or the stocks or bonds of extremely stable companies. By doing this you can turn this money into more money. That's what rich people do to stay rich. Poor people spend it all and it's gone.
2006-10-28 00:19:13 · answer #2 · answered by Anonymous · 0⤊ 0⤋
I would not tell alot of people and I would not change my lifestyle much by buying a fancy car or house.
I would not advertise the fact I acquired money as everyone I have known would be knocking on my door wanting a piece of the action.
2006-10-27 23:35:14 · answer #3 · answered by elanabutcher 4 · 0⤊ 0⤋
I would definitely make sure I put half of it in a savings account. This way, if something happens (robbery, etc.) I'd have a backup plan. Also, I'd donate to charity or support similar causes. It's never too late to help people in need, am I right?
2006-10-27 23:34:19 · answer #4 · answered by ~Ashley~ 1 · 0⤊ 0⤋
NOT go to Reno or Las Vegas
NOT buy a yacht
NOT get a fleet of Hummers
2006-10-28 00:24:06 · answer #5 · answered by Anonymous · 0⤊ 0⤋
Spend it on lavish, materialist items. Try to show off my new wealth.
2006-10-27 23:34:01 · answer #6 · answered by Mariposa 7 · 1⤊ 0⤋
I wouldn't spend it before I had sound financial advice.
2006-10-27 23:32:12 · answer #7 · answered by Zoey 5 · 0⤊ 0⤋
I would not tell anyone. That way no one will try to borrow or scam money from me.
2006-10-27 23:33:30 · answer #8 · answered by notyou311 7 · 0⤊ 0⤋
Nothing.
2006-10-28 00:12:14 · answer #9 · answered by blackedge02 2 · 0⤊ 0⤋
I wouldn't keep it all to myself.
2006-10-28 02:41:11 · answer #10 · answered by Pivoine 7 · 0⤊ 0⤋