Of course, I’d do all the obvious things, such as getting a bigger house, a newer car, and quitting work, but beyond that, I have no interest in an extravagant lifestyle—or at least that’s what I tell myself.
By a bigger house, I mean one typical of upper-middle-class living. I’ve watched plenty of videos of people touring million-dollar mansions, and they all look too big, open, and sterile to me. I’ve seen cozier tiny homes than those. And by a newer car, I mean a 2017 model or so instead of the 2007 one I drive now.
Really, give me a nice cottage by the lake with some land and a big garage for all my tools and toys, and I’m all set. I much prefer the idea of “hidden wealth” over showing it off. I’m just kind of worried that I wouldn’t be able to live up to my own expectations if push comes to shove, and there’s really no way of testing that. Am I just kidding myself here?
I feel the same way about fame. Many people aspire to become successful YouTubers or such, but the idea of people recognizing me on the street sounds awful.
I’d think you would end up living differently just because of the scale.
Let’s say you were suddenly handed 100 million dollars. Lottery, inheritance, whatever.
I don’t know what your annual salary is, but for me, that’s 694.4 years worth of annual income.
So “paying myself” my current annual salary, which NGL, is pretty comfortable, it would take 694.4 years to burn through $100M.
Of course interest changes that as well. Capping yourself at whatever your annual income is would likely see your wealth continuing to grow and never shrink.
All of a sudden, a world of possibilities opens to you. Vacation rentals? Screw that, vacation HOMES. AirBNB them 96% of the time (50/52 weeks a year) and that’s more money on the pile.