I Wanna Be A Millionaire

SO FREAKING BAD….. You’re supposed to be singing that in your head…. you know that song?

What would you do with a million dollars, tax free?

I used to think that having a million dollars was astronomical.  The older I get, the less money that seems to be.  Don’t get me wrong… I know it’s a LOT of money but it just doesn’t go as far as it used to.

We live on a street that only has 2 houses on it, us and our neighbors at the end of the street.  There are about 3 empty lots across the street and one on each side of us.  Hubby has often said that if we “won the lottery” he would buy all the empty lots on our street so that when our kids got “settled” and ready to be close again he would love to build them all houses on our street (they are probably running for the hills as they read this!) and build a huge swimming pool for all of us to share. 

I would like to pay off all our debts.  We have worked hard this last year to pay off most of our debts so we are pretty much debt free other than our house and the car we just bought and one small credit card that we have almost finished paying off.  Then I’d like to help out our kids.  Make sure our younger two had enough money put aside to finish college and get their degrees and help our oldest finish paying off her student loans.

I’d also love to take a nice long extended vacation with the whole family.  Ideally I’d love for us all to be able to go to Japan to see my mother in law before it’s too late.  My youngest daughter has never had the opportunity to meet her paternal grandmother.  I would love for her to realize that dream.  I would love to see her again.  I know my husband would love the opportunity to see his mom again.  We have not seen her since his brother got married 25 years ago and we brought her back to visit with us for about a month.  If she wasn’t at the age she is, it would most definitely be easier for her to come here rather than all of us to go there but since she is almost 93 years old I don’t think that is feasible.

After all those things were taken care of, I’d like to help out my parents.  Make sure all their debts were taken care of and that their house was in good shape and all their problems with their land and house was taken care of.  I’d like to make sure they had enough in store for their future.  Then if anything were left, it would of course take on the trickle down effect of helping out our siblings.

If anything were left after that I guess I’d make sure our retirement was sufficient and that our kids had a good start on saving for their futures as well.  I know that might sound like a boring way to spend a million dollars tax free but I tend to be very frugal.  I guess in some people’s books that translates to boring.  Boring isn’t always a bad thing.


About pegbur7

South of the Mason/Dixon Line
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10 Responses to I Wanna Be A Millionaire

  1. great blog! you are right that now a days it does not seem that a million bucks would take us far. Actually you are completely right. Cars have sky rocketed in price, and food has as well as we all know. You know one thing that i do hear a lot of is if i won the lottery i could buy a house, and have children, and we would be financially stable. Now, lets look at reality for a second if everyone waited to be financially stable to buy a house, have children, etc… well, there would be no kids, no cars, and all in all no more world. As, far as what you would do with your million i would do the same.

  2. Ron says:

    You’re right Peg, a million dollars is not what it use to be years ago. God, I can remember watching an old black and white movie, and one of the characters saying they were rich because they had $3,000.00 in their savings account – HA!

    I think if I had a million dollars, I would first pay off my one credit card, give my mother a bunch, and then take a trip to all the places in world I’ve wanted to visit.

    Happy Sunday, dear friend!


    • pegbur7 says:

      I always think of that movie with Mike What’s his face with the Dr. Evil? and the mini me and him saying “One MILLLLLIIIION Dollars!”. Cracks me up!

  3. If we got a million tax free, we couldn’t quit our day jobs. The cost of housing in this area would assure that. Alex and I looked at a home that was lovely and $1.1 million a couple of years ago. It was not a mansion but it was a lovely home. We even ran the numbers after we got home and realized that we could afford it IF I went back to work. That’s not on the table. Most of the houses we’d like to live in are at least $800,000, including our own. A solid million would be great, but would not be something we could “live on” for the rest of our lives. Of course, if we had a Mill and relocated somewhere that had a much lower cost of living, it could be done. But, I can’t see moving either. So like I said, we couldn’t quit our day jobs. In the old days, there was a show on tv called “The Millionaire” and I was so entranced with the guy walking up to someone’s door and saying “Here’s a million dollars”. That was like $50,000,000 today. Ugh!

    • pegbur7 says:

      You are so right! Sometimes I feel like I must be really greedy when people get excited about winning like $1,000 in a contest and I’m thinking… “Big deal!” That doesn’t go far at ALL. I feel like such a snob as soon as I think it but it’s so true.

  4. terrepruitt says:

    “Boring” isn’t always a bad thing and some people’s “boring” isn’t boring to others. So to each their own. I think it sounds like the perfect way to spend a million dollars. Thanks for sharing!

  5. jenny says:

    I,like you, would take care of my family..then I would love to be on that show “Secret Millionaire” to help someone who truly needs it. I watched a show where people had won millions from the lottery but now they are broke and their families were destroyed. I guess it would be wise to get some financial advice.

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