I don t reply to the question cause i ve got a million $ yetEmotion: smile
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If I won a million $ I would be very very happy Emotion: smile
If I won a million dollars, the first thing I would do (after screaming and shouting with happiness after finding out the news) is put it in the bank for a couple of months while I decide what to do with it. Many lottery winnings have blown all their money in a short period of time after making bad decisions/investments.

Many people think that when they have this sudden increase in money that the money is in a way 'endless'. The sometimes think that there is so much of it that they don't need to worry about what they buy. Then a couple of years down the track, they find that their new high style of living is about to come to end.

I'd use the couple of months to cool down and be able to think more clearly about what to do with it all. I'd probably leave a large amount of it in the bank and live off the interest. With interest you get from that amount, you could still have a great time.

I also know I'd be eating so much chocolate that I'd probably end up sick of it.
Emotion: smile
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Hi,
With interest you get from that amount, you could still have a great time.


Actually, the interest would not be that great. At the present time, you're lucky if you get 2.1% on US dollars. That assumes 90 day T Bills. So all you get is about $20K, assuming you put the entire $1 million dollars in deposit.

You could put the money in longer terms bonds, say 5-10 year term, then you are looking at about 5-7%, which depends upon the length of time and quality of issuer. That translates into $50-70K per year. The challenge here is that IF US rates should rise rapidly, as some/many speculate, then you're in trouble. As rates rise, bond prices fall.

So even with a million dollars, you haven't hit a home run. Financial analysts suggest that retirees can afford to spend about 3-7% of their retirement net worth per year. Different analysts suggest different percentages. I suspect that with the boom in the stock markets over, most analysts now predict in the 4-5% range. But you have to remember that retirees have less time to live than a younger working person. So if you are in your 30s, 40s, or 50s, then you might have to reduce that percentage, or do as the rock group Who hoped, "I hope I die before I get old."

The other thing to take into consideration is that you might live a very long time. Let's say that you (the reader) are a male and that the life expectancy for males in your country is 78 years. If you are 50 years old now, your life expectancy is greater than 78. You see, 78 is the average of all males. Those young bucks who wrap their cars around telephone polls in their teenage years really help to bring the average down. So if you've made it this far, you're likely to exceed the average. You need to exceed the average so that when you die, your age averaged in with those who died at a much younger age will still result in an overall average of 78.

This is probably more information than you were looking for. I just wanted to point out that if you do suddenly win a $1 million dollars, don't quit your job and find your location in the sun yet.

MountainHiker
Hi All,

For what it is worth, I just came across an [url="http://snipurl.com/WSJLifeExpect"]article in the Wall Street Journal on life expectancy[/url], which has further links to life expectancy calculators. The article is free and available for viewing for about one week. It is the 21st of November 2004 now. By the end of the month, the link should be dead.

I'm afraid to check out my life expectancy. Sometimes ignorance is bliss.

MountainHiker
I don't know how to spend if I won a million dollars.Maybe I will save up it in bank ,not for the interest.Because I don't want to chang my lifestyle so obviously .I am content with my life ,though I need a lot of money.But so big a money would change my life a lot if I spent it at once,and it will take some time for me to adjust myself to adapt another lifestyle.
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Do you mean you would be happy living from the money earned by someone else?

Or do you mean that you would be happy because you would not need to contribute to the running of the community for a long time?
I will study as I like, get a marriage

And take a travel with my family: dad, mom, my wife And my prothers around the word Emotion: big smile

Buy land, little house

dont worry I will remember you Emotion: big smile too LOL
first step: fire my boss;
second step: buy a big villa;
third step: see the world with my family;
fourth step: strengthen the health of my family members;
fifth step: build a fund to help all the poor people;
sixth step: do nothing
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