Picture this: You wake up one day to find $5 million in your account. But there’s a catch – you have to spend it all in just 24 hours. Quite the mind-bender, right? This hypothetical situation was recently posed on a popular subreddit and garnered a variety of intriguing responses. Let’s dive into some of these interesting ideas and see what $5 million could buy in a single day.
Living the Dream: Luxury House
For many people, owning a dream house is a top priority. When asked what they’d spend their money on, the top answer was, “Nothing ridiculous! Just a nice lakefront property with a log cabin, a boat, and a camper.” However, some pondered over the logistics of buying a house in 24 hours. “Do you think you could pick a house and get all the paperwork through in 24 hours? And go for a viewing?” a doubtful user questioned.
To this, an optimistic respondent retorted, “Forget the viewing; buy it! You’ve only got 24 hours. You waive everything and hand over the money in cash. You can print and sign and file title paperwork easily. It’s the loans that make closing on a home take so long.”
Investing in Stable Stocks
The practical folks among the crowd suggested that purchasing a property within a day might be too ambitious. Instead, they’d put the money in blue-chip stocks, investing $1.25 million each in Microsoft, Tesla, Amazon, and Apple. One individual elaborated, “Almost anything worth that much money would take longer than one day to buy… Then you can sell them back once those 24 hours are gone, and you’ll still have almost all the money to spend more leisurely.”
But another user offered a different perspective, arguing that the stocks could increase in value over time.
A Golden Idea: Precious Metals
The next popular idea was to invest in precious metals like gold, platinum, and silver. While some were concerned about how fast one could acquire such a vast amount of precious metals, an experienced user reassured, “Yes, I worked for someone who bought and sold precious metals. He also has machines to melt jewelry into bars. Transactions took no more than 20 minutes.”
Philanthropic Endeavors: Community Building
Several users felt compelled to use the $5 million windfall to enhance their communities. One of them envisioned, “I’d start a bicycle and pedestrian-friendly neighborhood! There would be a massive public pool open 24 hours a day most of the year, a huge community garden, and a park.”
Another dreamt of securing the future for their neighbors, saying, “I would buy my mobile home park so all my 80-ish neighbors on fixed incomes could live their golden years feeling secure. AND buy them all golf carts!”
A Healthcare Safety Net
Healthcare figured prominently among many responses. “My mom’s medical bills,” one user declared, while another added, “My grandma has all her medical stuff covered, but I’d still spend it all on the hyper-expensive experimental treatments that aren’t covered by insurance.”
A Clean Slate: Debt Repayment
Many folks would use the $5 million to clear their debts. One joked, “I’d have about $2.50 after paying off my student loans. (Not really, but it feels like that.)”
Travel the World: Globe-Trotting
Some adventurous souls would embark on a world tour. “First-class tickets to every bucket list country and tourist trap,” one user described. Another even listed out all the volcanoes they’d want to visit, including spots in Mexico, Colombia, Hawai’i, Philippines, New Zealand, Japan, Indonesia, Ethiopia, Congo, Crete, Italy, Iceland, and Antarctica.
Rescuing the Furry Friends
For animal lovers, this was a chance to make a significant difference. A user shared, “I would buy a farm where I could rescue massive breed dogs who don’t stand a chance in a shelter.”
Real Estate: Investment for Passive Income
Some commenters wanted to secure long-term income through property investment. A respondent noted, “I would buy every single livable house I could get my hands on. I would then keep the rent low and rent out all of them.”
High-End Watch Collection
An intriguing idea was buying luxury watches, either for the love of the craft or as a potential investment. The respondent listed a few choices, including Lange & Söhne 1815 Tourbillon Handwerkskunst and FP Journe Chronometre a Resonance.
So there you have it, a buffet of possibilities! What would be your choice if you had 24 hours to spend $5 million?
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Karee Blunt is a nationally syndicated travel journalist, focused on discovering destinations and experiences that captivate and inspire others through her writing. She is also the founder of Our Woven Journey, a travel site focused on inspiring others to create memory-making adventures with their loved ones. Karee is passionate about encouraging others to step out of their comfort zone and live the life they dream of. She is the mother of six kids, including four through adoption, and lives with her family in the Pacific Northwest. You can learn more about Karee on her about me page.