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I have a friend of mine that I know will probably receive over $10,000,000 personally before the end of July.  I was speaking to him tonight and got to thinking a few things.  This guy has worked hard.  VERY HARD for years.  He's now just hitting it big on a project that he'd been working on in a business that I know so very little about.  So I got to thinking....

1)  I wonder what he's going to do when he receives this money.  I'm just curious.  First, he has grandkids, so he should probably retire is my guess.  He won't need to work again, but he's not going to retire....he'll slow down, but he won't retire.

WHAT WOULD I DO IF I HAD THAT MONEY????  I definitely wouldn't retire.  I'm not the retiring type. First, I'd definitely tithe.  I'd give God his portion and think about the lives of those people whom I could change with some of that money.  Secondly, I'd make sure that money was there so that my children can work hard and learn a hard worth ethic, but have money to fall back on so that they're not a slave to it either.  They need to be humble and remember that God really gave them the money. 

I've been in my business for over 14 years and love my business, but I would consider leaving my industry, but to do what?  Nothing else really excites me.  I would just need to change lives of those to the best of my ability.

Selfishly, I would probably get a couple of new cars....I never buy new, but I would this time, but nothing fancy at all.  I would definitely want to fly under the radar.  Let's say it was $1 Billion dollars....I wouldn't be buying the Cubs or the Mavericks because I would just fly under the radar.  I love being a meathead sometimes and living the high life wouldn't allow me to be the meathead that I was made to be.

I may take some time off just to figure out just what I want to do as well as allowing me to recharge the batteries, but most importantly spending time with my wife and 5 children. 

My dad is a very successful doctor.  He just went down to part time at the age of 71.  His comments are,
"I'm not retiring until I figure out what God wants me to do with the rest of my life."  He continues..."I'm not going to be one of those old guys who sits around and waits to die."  What an awesome mentor I have. 

I know I wouldn't retire.  My friend sure does have a lot of thinking to do, but what would you do?  I know a lot of what I wouldn't do...how bout you?

 
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17 Comments on What would you do with $10,000,000?... I know someone who has that problem.

I have a father-in-law that at in his mid-80's has not slowed down a bit.  I think sometimes we never think of ourselves when we need time to rest.  So rest we and then work is my motto

07/03/2008 10:26 AM by Carol Perez (Tarbell Realtors)


You pose an intriguing question.

My father was a roofing contractor and was still climbing latters into his early 80's.  Not sure I will make it that far!

I of course I agree with giving back, that and making life easier for the family without coddling them.

There is a small eco-development I would finally pursue on the Gulf coast that would be "interesting" and a challenge.

Travel to the far-east while still physically able to take the roads less traveled.

Invest carefully, as these days even 10mil does not go far.

07/03/2008 10:40 AM by Marion Laney (Alabama Realty, LLC)


Beach house in San Diego to start.  Set aside for my son's future.  Donation to Ronald McDonald hosue.  Help the friends who have helped me in so many ways.  Investment properties.  Boat.  Pretty much in that order.

07/03/2008 10:51 AM by Marko Vucurevic (VanDyk Mortgage)


For the most part, I feel like I live in a pressure cooker of my own making. So your post was a welcomed opportunity to think about another way of living. It's pure fiction, of course, but stopping to day dream was like a bit of mental Yoga for me.

So what would I do with that much money? You bet I'd retire....in a heart beat! But that doesn't mean I'd sit around and watch Judge Judy ever day. Nope, I'd take all the effort I have put into our business and channel it into volunteer work and hobbies I've always wanted to have the time for. I'd set my son up so he could pursue his passions and earn his way, but with a safety net. I'd set up some foundations, and certainly some fail safe investments (if there is such a thing). I'd buy a huge tract of land and build the house of our dreams. Nothing big and elaborate...but totally customized to us. The house would have to have a large garage to house the little sports car for me, the motocyle for my husband, the truck to haul stuff, and some sort of comfy luxury sedan.

Traveling has become such a pain these days that I think I'd look into sharing the cost of a private jet so we could go places without the hassle. I'd ramp up my tennis game for sure! Weekly lessons...I'm in! Wimbleton, US Open, Davis Cup....front row box seats please.

But mostly...I believe I would wake up every morning feeling incredibly blessed.

Thanks for the brief diversion....now it's back to reality and trying to find some buyers!

07/03/2008 11:04 AM by Carol Clay, Broker/REALTOR Brevard NC Real Estate Specialist (Keller Williams Realty, Brevard, NC)


Larry,

I'd buy Active Rain and straighten out the server problem...!!! LOL Thanks,   Fran

07/03/2008 02:42 PM by Fran 'The Title Man' Gaspari Title Insurance-PA & NJ (Patriot Land Transfer, Inc.)


I would quit the real estate business. are you kidding me. wouldnt even look back.

07/03/2008 03:33 PM by Sun Goddess


Hi Larry,
I really appreciate that you would tithe, that is important no matter how much or how little we have.  As for me, I would set up a trust for my child to make sure she'll always be ok and then, I'd probably take some time off and do some traveling.

07/04/2008 04:57 AM by Cynthia Tilghman, RealtorĀ® Onslow County NC Home Specialist (Kingsbridge Realty, Inc)


Carole...great motto.

Marion....love it....also good words that 10M doesn't go that far these days....how sad.

Marko...very cool.

Carol...I love it.  I think a proper balance is appropriate.  I, for one, would not retire, but I'd work b/c I wanted to not b/c I had to.

Fran...right on!

Sun Goddess....I love it, but what would you do AFTER THE QUIT?  That's my burning ?

Cynthia...you make me digress, but you are so right...you need to TITHE no matter how much you make.  Great reinforcement.

 

07/05/2008 10:51 PM by Larry Bettag - Cherry Creek Mortgage


To whom much is given, much is required. We are blessed so that we can be a blessing to others.  Giving is an important part of the equation.  I would operate the same with or without a windfall of money. First, always give to God as a display of gratefulness and worship for his provision. Then give to myself & family (savings and investments).  We have developed the discipline to live below are means.  So a windfall will create more opportunities to give to others. I have a deep burden for South Africa and the people. I had the opportunity to go there last year and can't wait to go back.  We love to travel so we would definitely continue to include but might be able to squeeze it in more often.   

07/06/2008 12:46 PM by Michele Reneau (Carolina One Real Estate)


Hi Larry,

I tell people all the time there is a difference between having to work and getting to work. I will probably never fully retire, it is not my nature. I love to be involved in things. I would still do real estate in one capacity or another.

Yes God must get his and then some. I am very conservative and live a conservative lifestyle. I like you would not want to be in the limelight. Would rather do things for other people without them knowing where it came from. I think that would be the most fun part of having that kind of windfall. For some people a few hundred bucks would make their day,week, month.

It would offer options. If the person receiving the money doesn't have the right attitude about money and responsibilty, it will be gone in a few years with not much to show for it. Hopefully they have their head an heart right.

They should seek out a great tax attorney before they do anything.

Sincerely,

Bill

07/06/2008 01:12 PM by Bill Farragher (Exit First Choice Realty)


Michele...I love this.  Love the quote......mostly...you're absolutely right...to whom much is given much IS required.  Thanks.

Bill....that is good advice.....even with tithing....should consult to find out exactly how.

07/06/2008 09:45 PM by Larry Bettag - Cherry Creek Mortgage


With $10,000,000

Pay my tithes

Give a offering

Give some money to about ten of my family members

Give some to some close friends

Open up a non profit organization

I would open my own Real Estate Firm

Start my Movie Production Company

Buy a very nice house

Buy a Lamborgini

And INVEST THE REST. If there is anything left.

Great post.

 

07/07/2008 01:43 AM by Lanre Folayan "Buy Washington DC Real Estate" (Exit Premier Realty")


If I had $10M I would go into full time Ministry

08/05/2008 12:34 PM by Wil


If I had $10M I would go onto full time ministry

08/05/2008 07:12 PM by wilfredabrown@gmail.com


wilfredabrown....that'd be awesome.....start today my friend and ask God to take care of your needs....especially if it's in your heart.

08/06/2008 12:01 AM by Larry Bettag - Cherry Creek Mortgage


Medical bills!!!  No retiring for me. I may focus more on commmercial real estate. Maybe. And put a smile on many people's faces.

08/06/2008 01:31 AM by Trunda Rogers, Richardson Realtor (Summit Realty & Mortgage)


Trunda...you have the vision.....thanks for sharing.

08/06/2008 08:34 AM by Larry Bettag - Cherry Creek Mortgage


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Mortgage Company: Larry Bettag - Cherry Creek Mortgage
Larry Bettag Illinois FHA Specialist
Saint Charles, IL
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