This headline caught my eye. The short version - he blew $13 million within a year, and within 5 years, he'd spent the lot. (long version here but it's not that interesting). It is sad for the 11 year old daughter, left with nothing, and that he finished his life in squalor, and the whole drug addiction business. But is spending the money in your lifetime a bad thing? What's the judgment here?
It's not money you've earned. As long as you have enough to live out your days in a comfortable house or apartment, is it really so terrible to blow the lot?
To me $28 million is crazyland money - I can't imagine I could ever spend it all. I'm also not living that lifestyle - I don't drive a Ferrari, I don't wear furs and diamonds (nor would I), but I could see my travel bug might just consume a WHOLE lot of moolah. "Let's hire out this place and get a group together" and I imagine, once you've flown first class, there's no going back. Hell, my days of 5am Tiger flights might cease...so I guess once you get used to spending, you just keep doing it.
There seems to be some delight in seeing people waste money. I bothered to look up the article - there's obviously something that triggers it for me, I'm just not sure if it's a judgment, or to see what they spent it on.
If all you get at the end of your life is the sum of your days, is it that bad to have one crazy ripper of a year? A lot of excellent parties and fun? It may not be worthwhile for future generations, or leaving a legacy, but is it such a terrible thing on a personal level? (I am asking, I'm not sure what I think, myself.)
I am open to a barrage of the ant and the grasshopper, feel free to let me know my head isn't thinking straight.
If you won $28 million tomorrow, would you continue on as is, or go a little crazy?
Linking up with The Lounge on Money.
If like to think I would give most if it away but I'd probably buy a house or a car or something. It would be so tempting to just keep it all and go crazy but I have a feeling it wouldn't be as satisfying as you'd think.
ReplyDeleteI think that's part of the problem - spending it isn't fulfilling in anyway so you keep doing it, to try and buy happiness...
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ReplyDeleteRemoved the last comment because I picked up my ridiculous spelling mistake. What I meant to say was that being worried about getting through old age financially I would probably be boring as hell and invest the lot to live off the interest. Would love to give up work and know that didn't mean having to eat dog food in old age. I agree that if you started crazy spending it would be really hard to stop x
ReplyDeleteYes, I'd spend a ton of it, but hopefully not end up living in a dumpster eating dog food...eeeew!
DeleteI find it fascinating that people can get rid of that much money - even if you stuck it in the bank and lived on the interest @5% that is $1.4m per year - surely that is enough for a pretty good time? I would love to have the chance to find out what I would do... I guess you can't take it with you! Money Mummy
ReplyDeleteYes, I kind of think that - but then we are all a little more frugal - maybe once you start spending it just pours out of your pocket...
DeleteI am sure that if I won 28 million I'd splurge a little bit.. why enter the lottery if you are going to sit back and say "oh we didn't really want it" but I am with Shelley. The lump sum would be invested and we could live a veeeerrryyyy comfortable lifestyle on the interest. And I'd probably quit my job, make room in the workforce for someone who needs the income, and volunteer somewhere that makes me feel like it makes a difference.
ReplyDeleteI would pay off the mortgage and my sis and bro's mortgages, spend ALOT on travel and then invest the rest and watch it grow. I'm hopeless with money so I'd bring in some pro to help me do something smart with it.
ReplyDelete28 million is certainly a very amazing amount of $$. I think my first visit would be to the bank and sort out the mortgage, then I think I would take my little family on a two week holiday - to Mykonos - to think about what we would do with the rest ;)
ReplyDeleteWith 28m it would be easy to accumulate more stuff - like you say once you start you cant stop. Having that much money would surely be a burden, I guess all sorts of people would be asking for a piece of it that would be stressful.
ReplyDeleteColour me completely freaking insane, but the more I think about it, the more I think I'd rather not win Lotto in the first place. I think I'd rather be poor and simple than rich and complicated.
ReplyDeleteCrazy - I'd pay off bills, get a nice new house and land that gave us space, and then I'd work still, but doing what I wanted to do. Holiday is next on top of the list. But most of it would stay in bank - bet a few 'friends' would come out of the woodwork! Em
ReplyDeleteI'd do a mix of the crazy and sensible. I'd pay off my bills and our mortgage but I'd spend some to go and live in Bali and do some charity work. Put the rest away for the rest of my family.
ReplyDeleteIt is unfathomable how someone can be left for broke after winning so much but I guess, we'll never know what really was going in his head...
Ooh I think I would go a little crazy but then try and continue on as normal as possible! But a few nice, little purchases wouldn't go astray (and some charity donations too of course!!). xx Lucy from Bake Play Smile
ReplyDeleteOh I would go a little crazy and bring my friends and family along with me to enjoy the ride and keep me grounded. Great topic. !
ReplyDeleteI think I would continue on much the same, but would buy a bigger house and a nicer car and do some travelling :-)
ReplyDelete28 million. I don't get that either... If I did win, I wouldn't tell a soul. I'd sort out the mortgage stuff, buy a few decked out homes around the globe, pay off the mortgages of my family and spend my days travelling from place to place.. I like to think I'd make a hefty donation to a community in need, That would leave me with about 10 million. I'd invest half and leave half in the kitty. Ahhh.. Now off to wash the dishes. Cheers for linking with The Lounge. X
ReplyDeleteI don't know, I don't know .... I just don't know - yep, I think that clarifies my position ...
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