What to do with a Million Dollars in 2020 Latest Update.
What to do with a Million Dollars: There are several ways that you might acquire a million dollars. You could receive an inheritance from a deceased wealthy relative, you could sell your house in the inflated housing market or you could win the lottery.
Ever wondered what you would do with a million dollars? That is a lot of money.
Pick the Right Major
A college education isn’t the only path to wealth, but getting one can certainly make the way smoother. Those with a four-year degree earn at least 66% more than those with only a high school diploma. Your chances of being unemployed are significantly reduced by having a four-year degree as well.
A college degree is a good investment and picking the right major can make a big difference in how fast you accumulate that first one million dollars.
Give money to children living in poverty
Statistics from the Children’s Commission show that around 260,000 children are living in poverty in New Zealand. Divided equally, you could give each child $115.38.
Your million dollars will get you that essential part of the American dream, a house. A million dollars will buy you a very nice house anywhere in the US.
If you want somewhere a little more central, then you could go for a plush apartment in a big city. A New York apartment in a fashionable area could easily set you back a million dollars.
Buy a car to show off with
There are plenty of cars in the $100,000 to $1,000,000 range that you could buy with your new-found riches that are guaranteed to impress. This site has a whole array of cars in the high price range that you could spend some of or all your money on.
Just imagine yourself behind the wheel of an Aston Martin Vanquish or a Bentley Flying Spur, both of which cost over $200,000.
Invest it on the stock market
Instead of splurging your money, you could make a smart investment in the stock market and make more money from your capital. There are several different markets and businesses that you could choose to invest in. You could put some money into commodities like oil, wheat, and gold, or you could invest it in Forex trading.
There is a huge variety of businesses you can buy stocks in. Make sure that wherever you choose to invest you do plenty of research first and get some advice from a trading expert.
You could spend your money on something physical to own or you could spend it on expanding your horizons, literally. Traveling is an expensive thing to do but a million dollars could take you all over the world in luxury. Think about all of the places you’ve always wanted to go to.
Perhaps you want to see the bustle of Tokyo up close? Maybe you want to stand on the edge of the Sahara Desert, or perhaps you want to stay in a high-rise in New York. With a million dollars you could stay in the best accommodation and eat the nicest food, all while experiencing exciting new things.
Go traveling in style
If you want to skip out all of the queues at the airport, then you could spend a cool $500,000 on a private jet. Think of the snaps you could take for your Instagram followers.
A nice watch
Have you ever wanted to tell the time with something worth a million dollars? Well, why not buy a very fancy watch? For example, the Hublot Big Bang Tourbillon High Jewelry is encrusted with 380 tapered baguette diamonds, totaling 13.5 carats. Truly something to show off to your pals in the office – though, they might not let you be in charge of the budgets on projects anymore.
A fishing lure
You might be an avid angler, but are you really an avid fisher if you use a lure that costs less than a million dollars? You can spend all of your million on a jewel-encrusted a fishing lure that contains three pounds of gold and platinum, as well as being encrusted with 4,753 diamonds and rubies. If the fish don’t like that then they clearly have no sense of style.
Buy a Lush Private Island
If you’re really looking to get off the grid, you can use your riches to buy yourself an island and get away from it all. From a move-in ready island on the coast of Nicaragua to an undeveloped enclave in French Polynesia, there are plenty of places where you can find some sea, sunshine, and silence.
Just make sure you have enough money leftover to get there—you’ll need to charter a boat just to get groceries!
Revamp Your Look
If you have a million bucks, why not look it, too? From $10,000 suits to $50,000 dresses, you could easily blow through million dollars just revamping your wardrobe.
If you prefer simple clothes and want just one an extravagant statement piece, put your best foot forward and buy yourself a pair of $1 million dollar shoes, like these diamond-studded Stuart Weitzman stilettos.