What Would You Do If…?

What Would You Do If…?

How many times have you been asked the question, “What would you do if you won the lottery?” or “What would you do if you got $1,000,000?” Just the thought of that much money may have your mind reeling right now. Your imagination is running wild with the possibilities. Well, what would you do?

Sometimes the first answer to come out of the mouths of religious people is that they would donate 10% to charity. Others say they would save half of it. While others say they would invest a part of it. These are all very noble things to say but how do we know they would actually do it?

Others say they would buy a big house and cars. They have dreams of exotic vacations. Some say they would just look at it because it would be more money than they have ever seen before in their lives. While others said they would get a large amount of it in $100 bills, put it on their bed, and roll around in it. Of course this would be after they paid off all of their bills. This sounds more realistic but less responsible.

We see two ends of the spectrums. Then there is somewhere in between. The fact of the matter is that you would do the same thing you do now with money, except you would do more of it. More money does not make you more responsible. It just intensifies who you already are. In fact, 70% of lottery winners go bankrupt within 3 – 5 years. How could that be, you may ask. The old saying can be very true for many people, “More money, more problems.”

While you are dreaming about what you would do if you got a financial windfall, I suggest you prepare for it by educating yourself. Learn how to manage your money now, so when you get more you will be able to handle it. Learn how live without unnecessary debt now, so it will become a habit for you. Learn how to save a percentage of your money now for short term and long term goals to prepare emergencies and future plans. Learn how to be generous now, so you will be generous when you get more.

You may or may not get a huge financial windfall, but you might get an annual bonus or a tax refund. If you do the things I suggested above, then your chances of being successful and achieving your goals increase dramatically. If you do not think you can do it by yourself, then by all means reach out for help. You may need a financial coach. Read more about it here. I would be glad to help you make your dreams become realities. All the best.

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