What Would You Do if You Suddenly Got a Financial Windfall?

You have just won the lottery (Tragic Lottery Win-- More Tragedy Ahead?), a rich uncle passed and left you a small fortune, you discovered a piece of artwork at a yard sale . . . You are now Mr. or Mrs. Gotrocks-- what will you do with the money (What's a Million Dollars?)?

Will you start living like this is your recurring income?  Or will you treat it like the one time financial boost that it really is?  Blowing the dough would be the American Way . . . (Are You Un-American?)

Residents, and would be residents. of Spendthrift Manor (Spendthrift Manor and Frugal Homestead) would buy new clothes, cars, boats, and vacations (Have You Noticed the Giant Toy Sale Going on Lately? ).  Basically, living "large" until the money was gone (Looking For Frugal Role Models . . . ).

On the other hand, here is what residents of Frugal Homestead would do:

What would you do?  Blow it or grow it?

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Related posts:
Wealth Creation and "Assets"
Affluenza: What is It and Have You Been Inoculated?
Views on Consumerism Revisited
My Recent Visit to a Cathedral of Consumerism
Keepin' Up With the Jones' . . . Hell No!
Ever Heard the Expression, "It's Not What you Make . . .
Wealth: It’s Not What You Make, It’s What You Keep!
Your Retirement Nest Egg and Withdrawal Rates . . .

 

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  • 3/31/2009 10:46 AM Atkins wrote:
    I think it depends on the amount. If you got a hundred million, you could spend a million a year even without investing and not run out of money in your lifetime. Taxes being counted as part of the expenditures, of course. (Unless you figured out how to buy a longer lifetime!) If you got one million you could spend 50K a year: so that without other income you’d be middle class.

    If you invested the single million someplace that produced a reliable 50K per year, you could retire from working, and move to a country with lower costs. Like the Philippines. (There are many other countries where this could be done.) I know a Filipino lady who was divorced a couple of years ago and is now getting about 20K in alimony. She’s back in the old country living in pretty decent style.
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