What will you do if I had a Million Dollars?
What will you do, firstly? Well – you can add it as a comment to this blog post. I will detail what exactly I will do with this money.
Million Dollars – is still a huge money though not exactly the same way as it is perceived a decade ago. I am converting this at the current exchange rate of Rs.65 for 1 US Dollar.
A million is equal to 10 lakhs or 10,00,000 which not many are aware about and hence I had mentioned it here. So at the exchange rate of Rs.65, 1 Million Dollar equals Rs.6.5 Crore or Rs.6,50,00,000
Now, let me show you what I would do…
A World Trip for my family. As we are 4 members, I would peg the approximate expense at Rs.40,00,000 in total (@Rs.10 Lakh per person) as I would book it in a group travel with a famous travel company claiming some awesome festival discounts for booking all at a stretch. As we have 1 life, I would visit all the places we could in this birth itself rather than postponing it to next birth, which may or may not happen.
This leaves me with Rs.6,10,00,000
I would buy Silver bullion – 100 kgs. Since the rate at the present moment is pegged at Rs.39,000 a kilo, approx – I would have shelled out Rs.39,00,000 which leaves me with Rs.5,71,00,000
The next investment would be in Solitaires for Rs.21,00,000 which leaves me with Rs.5,50,00,000
I would then invest Rs.50,00,000 in Gold Bullion. So, I am left with Rs.5,00,00,000
This is still a sizeable amount to invest. I would invest Rs.1,00,00,000 in Government Bonds.
My next investment will go into Land which would occupy the major component. I would buy Land worth Rs.3,00,00,000 in upcoming areas which will show good appreciation in few years.
I did all these investments in various proposition since I believe in diversifying the investment there by diversifying my risk as well.
I am still left with Rs.1,00,00,000. You might ask what I will do…
I will buy a entry level BMW and Mercedes shelling out Rs.50,00,000 and I would deposit Rs.45,00,000 in the bank account towards maintaining my life style and would keep the remaining Rs.5,00,000 to pay towards Term Insurance (Annual Premium is Less but Coverage is HUGE)
Anyone willing to shell out 1 Million Dollars to me?? 😉