There’s a saying that goes “You can never get enough of what you don’t really need”. According to Maslow (boy, how much did we study him in Psychology class, along with the dog and the bell and the Id, the Ego and the Superego, and ended up with a bag of chips on the couch after over-analyzing our own behavior―good times!), our basic necessities have to do with everything health-related (physiology). Security, love, self-esteem and self-fulfillment are built onto that health base, and altogether represent our pyramid of necessities. In a nutshell.
When I have $ 10 mio. (since “if” introduces a possible or unreal situation or condition, I chose “when” which indicates a reference to the time of a future situation or condition that we are certain of (source), although I should be implementing it in the present tense to create the feeling of already having it… this whole envisioning thing is so complicated!), I’ll give you a break here. Alright, let’s start again: $10 mio. I’ll try to break it down (assuming I have financial planners and bankers hired and in place, ready to rumble) :
― Definitely invest to secure stability for my family (and I’d finally get to pay my parents back for everything they’ve ever invested in me… I hope 10 mio. covers that… the bill is pretty lengthy) ―let’s say for the sake of calculation, 2 mio.
― That house in the Hills (online real estate sources show some nice ones somewhere between 3-4 mio.)
―I’ll cool my SLR dream for a while, and settle for the SL (500 though! – $120,000 plus insurance, maintenance, gas)
―Flying my family and a handful of friends over (one after the other, I don’t like crowds and they don’t need to meet… they know too much) to splurge: Let’s say 10 people total, family can fly business: $20k (for flights)
―Finally treat mom & sis to that shopping spree and breakfast at the Beverly Wilshire: $10k to start out with (“Big mistake. Big. Huge. I have to go shopping now.”) Pretty Woman all the way
Where does that leave us? ………. (calculating)….. roughly $6,150,000 spent, $3,850,000 to go.
― Travel, travel, travel. I’d invest in some new lenses and gadgets and fun stuff and capture everything along the way: the Amazon Rain Forest, Tierra del Fuego, Northern Lights and Santa’s village (yes, it exists!), Cape Town, Mount Kilimanjaro, Bali, Tokyo, Mount Fuji, Fiji. Roughly. Not super luxury hotels, but I’m not going to lie (I totally wish I was the camping type, but I’m so not), I do like clean sheets. Via AirTreks, I just calculated roughly $7600-$10k for flights alone. Depending on how long I’d stay at each destination, hotel rates, food, and things I forgot, let’s say $50k.
― Good causes (because when you have money, you have to give back, no excuses): I care a lot about animal rescues and would invest accordingly. The Water Project is also a cause I would like to support. Total for good causes: Wow, that’s tough. How can you invest so much in yourself and your own experiences and not more in making sure other people are ok? We have to save the planet, g˟ddamnit (panics)! I don’t feel comfortable putting a price tag on this at all. Let’s start out with $200,000 and go from there.
― Because I don’t want to come back to an empty house and twiddle my thumbs, I’d finally launch my own company (or several), and thus create jobs along the way, generate more income, but mostly follow my passion. $500k? Is that realistic? Let’s hope so.
― That leaves $3,100,000, of which I haven’t invested anything yet (except my company), and the house also needs maintenance, I need food, and to sustain my daily life. I’m sure the bank has options to make money grow… magically… Like a wizard.
― I’d probably invest in realty to rent out as well (for steady income next to my company)
It scares me how easy it is to spend money. Basic necessities are met effortlessly when you put everything in this $10 mio. perspective, but the higher the $ amount, the higher our sense of entitlement. This is my belief. The more money you have to spend, the more you think you want and need things that you could do without. The thing is, it’s not about what you need anymore at a certain point. If you have all the money in the world, but there is no cure for a disease you may have, your necessities shift and it’s a whole different ballgame.
So here we are: going to work, on game shows, playing the lottery, taking risks, asking neighbors, investing, waiting and hoping that everything changes while nothing changes at all. In a nutshell.
What would you do with $10 mio.?
Day 10: “What would you do with $10 million?”