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Originally Posted by alexie  Just wanted to know how would you guys manage a large windfall , lets say $1 000000 and up. Would you quit your job temporarly? Obviously the first things we would do is to pay off all outstanding debt and such. But what would your monthly budget look like? If you were to set $300 000 for monthy budget, how many years would you cover before the amount disappear? Thanks |
With a $300000 monthly budget, you would last about 1 quarter (plus a day or two on the interest).
Seriously though, the question is too broad. A lot of the people here seem to like having big bank accounts (or other assets) and see this as an opportunity to get ahead, using luck to go where hard work would eventually take them.
There's other good options though; if you're always thinking about your contribution to society you could give it all to charity (yes, you could invest it and give the gains to charity, but you could also find a charity that does that themselves - bigger pools mean less management costs, unless you have a really special investment option).
If you truly enjoy having the most fun possible with the money available to you, you can get a lot of good memories from spending it wisely, as long as you don't buy something with maintenance costs higher than you can afford later.
I would say the perfect scenario is if you're already doing everything you can to live your ideal life, and you apply the money to those ends in the most effective way possible. This is a bit unrealistic though, and people who are confused about what they want might not get a lot out of it.