Admittedly, a million ain’t what it used to be, and at this point in my life, I’m looking at it quite differently than I might have a while back. For one thing, I’m more cognizant of the security of my wife and family, now that they’re part of my life. That said, here goes.
- Invest the initial sum and live off the income. Just a 5% return would be an additional $50,000 a year income. That would be a huge change in our lives. (A prudent strategy would also require ways of protecting the capital, should I be afflicted with a long-term illness.)
- Can some of this be applied as angel investing for startups without involving great risk? Or low-interest loans to worthy individuals? This could be fun and satisfying.
- Increase our charitable donations. We do have many causes we passionately endorse.
- Contribute to political candidates. Relatively small amounts still add up, especially at a local level.
- Travel. Even getting away for a few days can be great fun and refreshment.
- Home renovations and repairs. A three-season porch with hot tub would be at the top of our list, but there’s plenty of upkeep needed in an old house like ours – energy-efficient windows on the second and third floors, painting inside and out, tree-trimming … oh, it’s a very long list, believe me.
- New wheels. Nothing fancy, mind you. But I’m really pushing the limits on my Camry.
- Attend more concerts and theater. We really enjoy going when we can.
- Quality of life gifts for others. These don’t have to be big or splashy – just little things that can make a difference. A class for a child, for instance, or a pound of good coffee.
- Support for my own writing. It would be wonderful to hire an editor for the revisions, artists for new covers, or move into paper editions for my lifetime of creative output. (Oh, dream on!)
Things would get really interesting if we raised the amount to $10 million. So what would you do with that first million? Or the next nine?
Of course, this is totally unrelated to the theme. Just another thing on my mind.