If you were to become a billionaire suddenly overnight…

posted 3 years ago in Money
Post # 3
Member
3222 posts
Sugar bee
  • Wedding: April 2015

@freshflowers:  I’d buy a flat and a boat in Monte Carlo, and invest the rest for passive income.

But I’d finish law school first.

Post # 4
Member
5228 posts
Bee Keeper

@freshflowers:  Honestly? I don’t need billions. I would probably make sure that certain people were set for life, and then I would set up a charity trust fund for most of it. I would then devote my time to charity work, mainly the humane society and medical missions trips. 

I’d also want a cabin in the redwoods for my down time. 

 

Post # 5
Member
1136 posts
Bumble bee
  • Wedding: March 2015

@freshflowers:  Big house, LOTS of travel, nice cars and set up trust funds for my younger siblings and future children. I’d also pay off all debt for my family (mortgages etc.) and donate a whole bunch to charity and start my own charity/grant/scholarship fund for single parents and their children. I’d also want to quit my job so I could do more volunteer work and things i’m passionate about! Oh to dream haha

Post # 6
Member
901 posts
Busy bee
  • Wedding: May 2014

@freshflowers:  I would pay off all of my families debts for them. Including FI’s 100k in student loan debt. I would also pay for college for all the kids in my family, so they have the opportunity to do whatever they wanted when they graduated.  I’d then buy myself and my fiance a new car, and a couple of homes (maybe condos). One in Houston, where my family lives, one in Cape Cod, where his family lives, one in Colorado, we love skiing/outdoors, and one somewhere near a beautiful beach. Heck, maybe in Paris too. I would also use them as investments, and rent them out when I wasnt using them, so it made some sense to buy them! 🙂 I also wouldnt spend a ridiculous amount on each of them. After that I would go back to a relatively normal life, finish school, get married, and look for a job. Maybe open up my own bakery on the Cape somewhere.  

 

Post # 7
Member
1275 posts
Bumble bee
  • Wedding: September 2014

Interesting question!  I thought you were going to ask what about our wedding would be different, and I was thinking really hard but I couldn’t think of much I’d be changing!  Splurging more here and there on cutesy, unnecessary stuff, but I’m really happy with what we have planned.  That was a nice realization haha 🙂

 

About the rest of our lives, though …. Our most immediate change would be to sell our vehicles and purchase new ones.  We’ve both been driving our cars since we were sixteen and they’ve just about had it.  I’d want to blow a couple grand on my wardrobe.  He probably would spend some on toys – a boat, or nice golf clubs, or whatever.

 

My favorite part about being a billionaire would be that I would buy ALL my food from the organic/local store.  I would be sooooo content.  This would honestly be my favorite part lol.

 

I think we’d buy our starter home very quickly rather than waiting a few more years.  Put some good elbow grease into it and do some of the pricier, unnecessary upgrades, etc. before selling it and getting a forever family home.

 

We’d bail his dad out of debt even though I wouldn’t approve.  Lol.

 

Our (currently non-existent) kids would have college funds (with restrictions, like GPA requirements and living arrangements – I ain’t footing the bill for you to skate by with a 2.0 in general studies while you live off campus with all your friends and party every day, yo) and a small trust fund for them to begin their lives with a little nest egg.  They could use it for a wedding or a downpayment on a home or whatever.

ETA: we’d buy ourselves a BOMB ASS honeymoon, and keep a healthy amount in our savings, but then invest the rest, go back to work, and use the interest as a bonus.

Post # 8
Member
2529 posts
Sugar bee
  • Wedding: April 2014 - Italian Villa

@freshflowers:  I would buy a ton of rental property, to ensure the future generations are taken care of,  would buy a Tesla car, and would travel a TON. Obviously some would be donated. 

Post # 9
Member
1016 posts
Bumble bee
  • Wedding: August 2014

A billion dollars is just….way too much haha. 

I’d buy or build a small home on a really nice piece of property just outside of the city, a small acreage or something.

Then I’d set aside a lump sum, say 50-100k that I’d promise to give to my brother provided he graduate uni or trade school with a certain GPA, or invest in his business if he decides to be an entrepreneur. 

Then the rest would be invested and/or used to fund my new animal rescue group, which is what I would spend the rest of my days running. 

OOOO ETA: I would laser off every last goddamn dark hair on my body save for my eyebrows and head! 

Post # 10
Member
721 posts
Busy bee
  • Wedding: October 2014

i would get a nice house in the country with a big fenced in yard. i would start a dog sanctuary for “unadoptable” dogs. i would then pay for FI to go back to school. set up accounts for my future kids to go to college. probably go on some vacations 🙂

Post # 11
Member
552 posts
Busy bee
  • Wedding: June 2014

I would buy a farm and set it up for horses and cattle. That’s our plan anyway, but we would have a much nicer setup if we were billionaires, lol. And we would be able to pay for it outright instead of getting a loan. We would probably give some to my brother, enough to pay off his current student loans and to pay his expenses for the rest of his time at university (he’s working on a masters), and give some to the rest of our family members to use however they want. And I would pay off my bosses mortgage and give him some money to put towards his childrens educations. He’s like a second father to me and I would love to help him out. We would buy FI a new truck for sure, but I would probably keep mine to use as a farm truck. We would also get a VW Tiguan with a diesel engine for road trips and trips to the city.And we would travel somewhere warm every winter, and to Europe in the summer. The rest we would invest. We would live very well off the income from the farm and interest from the investments.

Post # 12
Member
13021 posts
Honey Beekeeper
  • Wedding: June 2011

Billions?  Quit my job, update my current house the way I want to.  Update my parents house.  Pay off my husbands parents house.  Buy my dream car.  Then travel the world and invest and leave a legacy for generations to come, which is what we want to do anyways.  I don’t need billions though, 5 mil would do for me.  Even just 2mil cash would be enough to maintain our current lifestyle and we’d retire.

Post # 13
Member
6525 posts
Bee Keeper
  • Wedding: September 2013

@freshflowers:  if I became a billionaire tomorrow…wow…

I would pay off all my familys debts and give them some money

Then id invest some of it, particularly in real estate and a restaurant

But before all that, i would travel and buy a house and some vacation homes 

Post # 14
Member
357 posts
Helper bee
  • Wedding: October 2013

I’d buy a house, a vacation condo/home in Sandbridge/OBX, put a couple hundred thou in a college find for future kids, invest the rest, live off the interest and be a SAHM. I’d go back to volunteering at the animal shelter and take care of his mom and my parents. Travel. Let my cat eat only wet food every day!

Current estimates say a person needs about 1.2 million to retire at 65 (I think it’s 65) comfortably. So if it any point I dipped below the 2-3 million in assets point, I’d readjust.

Post # 15
Member
4382 posts
Honey bee
  • Wedding: September 2012

First I would Get a lawyer…. 

 

Then those that have supported me through my toughest times I would hold a large party with cheques to be dispensed so those that I love are truly taken care of. I would buy homes for my in laws and my brother. Donate to animal rescue places and charities close to my heart. I would find the study that cures Cancer to make it available to the public 

 

Post # 16
Member
1905 posts
Buzzing bee
  • Wedding: December 2014

FI and I talk about this! 

We would move our wedding date up, move closer to our fam, and pay off school. We would travel everywhere. But honestly, we would have the most fun giving most of it away! There are so many wonderful, truly wonderful people we know who are in need. I look up to this one lady I work with so much. She is like a mom figure to me. Anyways, she is a single mother of 4 who works 50+ hours a week to support them. In the summer she would drive to her home on her lunch break to take her son to football practice. Always maintaining the best attitude ever. I would buy her a house and set up college funds for all her kids! Love her. 

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