What Would You Do If You Were Suddenly Rich?

Having lived in ghetto apartments all my life, I would buy myself a ranch and live in a house, plant my own fruits and veggies, and have satellite radio/tv. After a year or two of such comfortable living, I would set aside some $ and do charitable work so that I could help others who've been poor all their lives.
 

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If "rich" meant gazillions, I would buy a lakefront home on Lake Tahoe. I lived in Tahoe for 35 years and it was a great life and I was blessed to live in such a spiritually beautiful place. I now live in the high desert of northern NV, near beautiful and wide open Smith Valley. So I would also buy a home with acreage there. Best of both worlds.
 
Actually; I wouldn't do much , if anything, different; I live pretty much the way I want now, have enough money. Other than utilities and taxes, I have no payments. I look, yearly, for a vehicle that I would like more than what I drive and am less inclined to change each year.
I may start hiring yard work and snow disposal this year, or not.

Blessings are where you find them, IMO; you make your own life, luck and happiness out of the hand that you are dealt.

Enjoy!
 
OneEyedDiva said:
And you could find such charities using Charity Navigator. The site rates charities based on certain criteria, one of which is what percentages actually go toward the causes. @Aunt Marg
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I use Charity Navigator all the time and find it to be very useful. One thing I have learned to do is to blot out my address and phone number on any checks where I am making a one time donation. In the past, we have often donated to specific animal shelters and food banks located in areas hit by disasters. That put us on mailing lists that are hard to get off of and wastes a lot of paper. We never donate to anyone over the phone, and the only ones we donate to on line are those that we intend to repeat.
If we won a big lottery, we would show up with a list of charities and try to make donations right on the spot without revealing our identity.
 
Agreed about one time donations for a specific event and then you’re flooded with requests. If I want a tax receipt, I have to provide my address. I’ve enclosed a note that states clearly that if there’s any solicitations, they will never get another cent from me and they don’t.

If I add my middle name or initials in my donation, I can spot who has sold my information.
 
Happy Joe said:
Blessings are where you find them, IMO; you make your own life, luck and happiness out of the hand that you are dealt.

Enjoy!
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I pretty much agree with you. However I would be happier with more free cash because it would mean I could indulge my whims a bit more. I do know I enjoy that relaxed feeling when what I'd like is provided at my budget level. For example when I'm travelling for work I feel very relaxed overall because I'm frugal so the per diem I'm given covers what are normally luxuries for me.

On the other hand I do feel very fortunate to have the life I have and I do love my life very much. I know that if I wanted to I could probably work harder and get a higher paying job but that would first take the effort of finding such a job and I could only imagine the new job taking more effort than my current job requires. I'm currently very happy with my work/life balance and am not interested in rocking the boat.
 
I struggle to come up with an answer as to what my wife and I would do is we were suddenly rich. The core of my problem is the definition of rich. In my view:

1 Million is well-off
5 Million is rich
50 Million is filthy rich
..... and then there is the really, really rich or anything over 250 Million

We would not do anything different at the well-off stage except give more away.

At the rich (5 Million) stage we would be pretty busy giving it away, but we might get a nicer car and house, and do more travelling. Most of the people that I know who are at this level are still reasonably grounded.

At the filthy rich stage, we would have to hire help to manage it and we would have to hide out to have any privacy. I think that things would start to get very unpleasant at this point. Most people that I have met who were filthy rich were weird and unhappy jerks.

..... and the really, really rich. Forget it. The only one that I, personally, have ever met in this category was seriously messed up.

Too much money seems to distort people, and not in a good way.
 
I'd pay all our bills and become debt free.
I'd divide a bunch of it between my kids to be used in whatever manner they chose, and grandkids (in trusts until they were of age)
I'd purchase a second home in a warm climate, right on the water (lakeside rather than the beach) so we had a place to go anytime we wanted to get away.
I'd invest the rest and live off the proceeds.
 
If i were to come into a large amount of money i suppose i would spend or give some to my kids but after that i think i would like to be a secret benefactor sort.....
Not to charities that are often bloated with administration but direct help...... to people who are not trying for a hand out.....
i worked several type jobs and the people who worked hard and yet seemed to just be treading water.

I would like to NOT hand out cash....... but maybe pay some basic bills like utilities or a phone bill etc .........so they have a moment to catch their breath. this is what so many say they need lets see what they do with it......
maybe cleanup an overgrown yard that maybe the owners just can not keep up..... pay for someones groceries out of the blue...... pick up a check at random for someone at a diner who looks like they have a very tight budget.....

This sorts out those who if given a lump sum would just splurge and be back in the paycheck to paycheck cycle...
There are many who go through life just doing what they can without too much complaining ........these folks need to open a bill to find no payment due this month or a credit..... it would take some time and investigative work but would be so rewarding.
 
I'd find a good financial consultant immediately. Next I'd need to deal with the various agencies who helped support my medical assistance, etc, and settle accounts.

My next goal would be to form a financial plan that would place me in a good, secure apartment or condo. I'd arrange for all the bills to be handled. Yes, I'd be sure to have money for groceries, etc. I'd get knee replacement surgery and have my unbiblical hernia repaired. After all that, I'll think about getting myself some expensive techie toys.

Somewhere in there I would find a way to help people who are less fortunate. I might not have a lot of money available, but I'd make sure my contribution counted.
 
I would make repairs on my home and have it beautifully landscaped. New furniture in some rooms. I would still do my own food shopping but not worry about the prices and I still would cook but would love a top of the line gas stove.
I would still clean my home . I don't like the idea of a service coming in and handling all my things.
My kids and grandkids would be well taken care of and I particularly would love to give my son his own cabinetry workshop with enough space to hold all his tools and equipment. Where he is now work space is at a premium.
Animal shelters and welfare would get all my contributions but only after I have checked out the organizations thoroughly.
Sadly there is way to much pocket lining going on.
I would be more inclined to give generously to smaller shelters.
I know someone who has a plane and rescues dogs and cats from flooded areas, etc. He would never have to worry about gas money again, I would provide that.
 

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