Suggestions for Multimillionaires

Who hasn’t dreamed of having millions of dollars at their disposal?  If you had it what would you do with it?  How would you manage it?  The list of ways to us it and things to do is nearly endless; the suggestions and advise offered here will only be a fraction of the possibilities.  I’m not a millionaire be any means but I like to imagine being one; I won’t suggest anything to anyone I wouldn’t be willing to try or do myself. 

Let’s first examine how a millionaire can benefit personally.  However the money comes: inheritance, winning a contest, earning it with a business, some kind of fluke, or any other way you can imagine, the last thing anyone should do is go blow it on wasteful, impulsive spending.  I would first suggest getting it banked and then look at expences and debts.  Getting them up to date and/or paid off if there are any stops interest bleeding.  It can be a good idea to have regular savings and checking accounts with the maximum deposit allowed and regular deposits that are higher than withdrawals.  Retirement accounts are good.  Investing is a popular activity; the stock market has its risks but also benefits.  That’s all I’ll say about that as this can be researched separately.

What can you personally do with this fortune?  You may want to buy a new house or make improvements to the house you’re in.  You could also repair or replace your vehicle(s).  How you do it is your choice but don’t you think it would be wise to if possible find houses and vehicles that could be bought cash on the barrelhead, thus avoiding making monthly payments?  Traveling the world is a fun option; a wise move would be to travel coach class and use 4 star hotels.  How about a cruise?  These are just some of many possibilities.

Now for the best part: using the money to benefit others.  Multimillionaires shouldn’t be miserly; they should look for chances to use their money to give people with lower incomes a helping hand.  It should all be voluntary; here are a few suggestions.  Help someone make improvements on their home.  Bring in, repair or replace playground equipment at city parks.  Buy food for a food bank.  Organize service projects regularly; these can be anonymous or personally overseen.  They can be done on a small or big scale.  Now here is the biggest, most ambitious suggestion I can think of!  Invest a large amount of money in an investment account that pays high interest that can be harvested regularly.  With this become a miniphilanthropist.  By this I mean have money for people to use for any important purpose; people who wouldn’t qualify for or don’t want loans.  The money would be theirs to keep and nothing to pay back but would not be quite the same as a grant.  Don’t just give the money away; make the recipient do something to earn it.  Have them organize a service project or other thing that is beneficial to the community; the more money they want the bigger the project.  Have them show you the results before they get the money.  If you do things like this frequently yourself you have every right to expect this.  Once word gets around people might come with a project in mind; you can then suggest how much money the project is worthy of.

These are just a fraction of what’s possible for a multimillionaire to do.  Again they’re only suggestions.  People are more generous when they act entirely alone with no outside pushing.  If any millionaires read this, I’m open to anything else they might suggest.