What would you do...?
I was driving home yesterday from my husband's work, and I started thinking about what I would do with a million dollars. SO...
The first thing I would do is payoff my student loans. They have been on my mind lately since I only have three classes left and will then have to start repaying them! (OUCH!) We have no credit card debt, so I would not have to pay any of those off. The only debt that we have or rather will have is my student loans.
The second thing I would do is buy myself a new vehicle. We had to put in a new-used engine in my car just before we moved, so I would love to have a new car (but just don't want to be bogged down with a car payment right now). Both of our cars are paid off, so I would really like to keep it that way for now.
The third thing that I would do is set up an investment account which would not only help my kids with college expenses but would also be for my husband's and my retirement.
I would want to go hog wild and buy something frivilous, but I would have to be the sensible one in the family and keep the spending to a minimum. OK, well there may be one little shopping spree to... oh I don't, Coldwater Creek or somewhere like that, and I would have to let the kids and my husband pick out one or two things too.
I would not buy or build a house yet. Unless I am sure that where we are is going to be a place that we will be for a while, I will not be investing in any properties just yet. NOW, if the investment account does its job, we could either buy or build a house somewhere down the line after it builds up a bit, and we begin to realize a return.
I know what I would do...but the question is...What would YOU do?
posted by Jazzy @ 9:09 AM
6 comments
.JPG)
6 Comments:
It's in moments like this that you realize a million isn't much anymore. Is it? Now, Jazzy you could look at the house as an investment.
I would buy a house that was paid off in full, so I could dedicate my days to painting and drawing, of course, since obviously I wouldn't work anymore.
:)
Cele,
So true, so true! The house would be an investment, but I would hate to have to try and sell the house if we move again. I have already done that once and it wasn't pretty! I was alone trying to pack up and sell the house with my husband only coming home on his two days off. This went on for 4 months! I will never put myself in that situation again. My marriage could not withstand going through that again.
SML,
When the time would come to either build or buy a house (and it would), I would be sure that the house was paid off in full too.
Also, Jazzy, have you ever added up the rent you've paid? It amounts to a lot of money that isn't building you up equity. A house payment is an investment that can be good for you financially, and gives you more power later.
SML,
I know that it is not building equity. I am not saying that I would not ever buy or build a house. I am saying that I want to be sure that we will stay in whatever place that we are for more than two years before we would take that step (even if I had a million dollars). I would not want to lose money.
Post a Comment
<< Home