They have presented the scenario today: “You just inherited $1,000,000 from an aunt you didn’t even know existed. What’s the first thing you buy (or otherwise use the money for)?”
The thought of this amount of money in lump sum, after taxes, could change a life. I have known people who found themselves in a similar situation. In some cases, it actually ruined their lives. Money, no matter how much, cannot buy happiness. And if a person believes a large sum of money will solve all of their problems, they are wrong. While some problems may go away (debt for instance), they will be replaced with an entirely set of problems… problems that the non-wealthy people cannot even imagine.
If I inherited a sum like $1,000,000, the very first thing, without doubt or hesitation, is to get completely out of debt. And I would never again owe money to anyone for anything. While having money cannot bring you peace, indebtedness can certainly rob you of peace. Being free of the bondage of debt would bring a refreshing freedom to my life. I would never need to finance, take out a loan, pay rent, or develop credit again. Paying cash for everything may be unorthodox today, but that would be me.
Beyond this primary task, I would start my own Literary Agency, helping authors get published and become successful. I would also like to have a local pool hall/ recreation center.
I would never again work for someone else as my boss. Being in business for myself, I would be certain I can get along with the boss.