Your wife just won a million dollars playing pokies – what would you do with the cash? Let’s pretend you have a say in the matter.
Would you blow the $1,000,000 building the ultimate Lego castle or would you invest the money wisely? Everyone who has played progressive pokies has dreamed about what they would do if they hit a big jackpot. The Mega Moolah was recently hit for more than $13 million, breaking another record and getting every pokies player fantasizing.
Don’t lie – I’m sure you have as well. It’s human nature to dream big when gambling.
No one plays pokies to grind a $20 profit, we play because of the chance of winning big. Anyways, I’m getting a little off-topic. Here are some of my ideas of what I’d do if my wife won a million dollars playing pokies.
Buy real estate (House/Condo)
I’m not talking about a mansion by the beach, but the first thing I’d do is buy a condo or house.
The thought of not having to worry about a mortgage would be amazing. Without the pressure of a mortgage, it’s be much easier to do what we enjoy. The $1,000,000 wouldn’t go far in Sydney, but it would elsewhere.
Invest in the stock market
I’d be in no rush to jump into the stock market, but when I did, I’d focus on dividend stocks that are stable and have paid out dividends for decades. I sure wouldn’t be taking any chances on penny stocks.
Building a small dividend stock portfolio would go a long way towards building for retirement at my age and it would be a great use of the $1 million. Of course, you could just go out and buy five Berkshire Hathaway stocks.
Can you believe the stock price for Berkshire Hathaway is at $195,386.00?
The stock was under $6000 in 1990, what an invest that would have been. If my family had shares of Berkshire Hathaway from the 90’s, I wouldn’t be getting excited over my wife winning a million dollars.
Who wouldn’t spend some of the cash on a new luxury car?
If cars aren’t your thing, I’m sure you can think of a hundred other toys to buy.
What about a SuperBike or boat? You can get an insane boat without putting too much of a dent into the million. Maybe you’d buy a RV and travel around the outback enjoying nature.
Stay at the Crown Towers for a month
In no way am I advocating this suggestion, but I’ll admit, it would be one heck of a time.
A Tower Suite at the Crown Plaza would run about $1500/night on average for the month. Put aside $1000/day for entertainment and food, which would be a massive stretch, and use the rest to gamble.
You’d likely either bust out in depressing fashion or double up the initial million. It’d be a fun ride, but I don’t think me or my wife would ever live down losing a million dollars at the Crown Casino in Melbourne.
Playing the pokies at Crown Casino for high-stakes would be fun, but I don’t have the stones for that.
Take an exotic vacation
You have to live a little right?
Sure, it’d be smart to invest the entire $1M, but what fun is that?
One of the first things me and my wife would do is take a vacation. Unfortunately, a million dollars isn’t nearly enough to retire on these days, but a 1-2 week vacation traveling Asia or Europe would be a great time.
Start or improve a collection
Many of us collect something, whether it’s coins, bullion, art, branded merchandise or any other collectible.
If you don’t have a collection, you could start a valuable collection with some of the money. The collectors reading this article are probably thinking of many pieces they would add to their collection.
I’m a coin collector and enjoy stacking bullion, so I’d definitely buy some gold and silver. Not only can smart investments in coins increase in value over time, but collecting coins is one of the oldest hobbies.
Buy an island
Maybe the million is enough for you and your wife to decide to pack up and buy an island.
Based on my quick research, an island in the South Pacific starts at just $150,000 roughly. For $250,000 – you can purchase a beachfront lot on Nawi Island in Fiji and use some of the other money to build a dream house.
I could never live on a developing island, as I’m too used to the city life, but it’s definitely an option.
Start a business
Why not put the money to work?
Many people dream of running a business, whether it’s owning a restaurant, operating a bed and breakfast or any number of business ideas. I’d definitely quit my job and run a business if I had a million dollars.
That’s plenty of money to live off of while launching the business. Plus, once the business is running smoothly and making money, a lot of the work can be outsourced to employees, freeing up time to enjoy life.
There are a million things you could do with a million dollars.
Sound off below and let us know how you would spend the million if your wife won the money playing pokies.