I think I'd spend some on a nice new car, live on the rest for as long as it lasts, including paying for wonderful holidays. I'd probably also donate some to one of the kind souls above who will have opened a refuge for sick or homeless animals
There are plenty of lovely rural homes under $1m within 20 minute's drive from where I currently live. I'm sure I could find one to suit.
I would probably be burning through $1 mill quickly with that plan. Btw. You get paid to officiate at big volleyball tournaments... (actually, you can get paid at most comps, depends on the association running the event though. Social comps you may or may not get paid.) but it's not something you do just for the money though. I've actually used my precious annual leave days to officiate at Invictus Games (one hell of an awesome experience!) and for the International Beach Volleyball tournament at Manly Beach. The pay rate is chump change compared to my normal day job. Next year the International Beach Event will be on the Gold Coast (Thanks Qld State Government!). I've applied to work for it. We'll see if I get accepted. I've been refereeing in the NSW State Volleyball League over the past few years and the guy who organises the referee's roster said, "If you need the money you earn from refereeing (The State Volleyball League) for your mortgage repayments, then you and I need to have a chat". Lol. I do have other assets at the moment I could live off, though. Might be a bit pauperish if I stopped working! Weirdly too, I'd have $2mill cash if I sold my home. But I wouldn't do any of what I'd said if I did that (well, maybe apart from giving money to nieces and nephews and some other small things). Why? Cause it feels like throwing money away! Gotta think, long term. But if it's money simply given via something you didn't have to work for (e.g. lottery and to a lesser extent, an inheritance), I'd treat it (or at least, part of it) as free money, "a free kick" and could use it more freely/recklessly. Whereas, having to buy a home with your own money, working many years to be able to buy, you end up thinking about how you would use the money - wisely. Back in 2008 I was made redundant from Amex after working there for 6 years. (Side note: Redundancy is about the closest most people will get to as to "Winning a jackpot"). I got a good payout, equivalent to 7 months salary. Made plans on what I could do with that money. Fun ideas. What happened? I ended up using the money for a deposit on an IP... guess that's why I'm a forum member. I still own it and that IP is worth about 200k more than the purchase price. Better than blowing it on buying nothing!! It will continue to grow too. Of course, with hindsight, a house on land somewhere/nearly anywhere in Sydney would have been a better purchase (this is a strata property). But still...
Ohhh... Good idea by @Dan Donoghue. Perfect. Thanks for pointing it out @Angel It's all about having income producing assets/making money grow for the future
In that case, @Sackie, would you like to buy a block of land in Qld?There is a development happening just up the road from where i live. The developers have convinced the Council that in order to smooth out the contours, they must remove all the koala habitat on the land. Last year the State Govt Environment Minister wrote to the community assuring us that the land (and the koalas) was safe. Last week the State Minister wrote to advise that the matter is none of his business. The koala death toll crossing two busy main roads to find fodder trees has been an average one per night for several months now. The lovely state government last week announced they are buying up koala habitat across the state, but not at Warner.
So sad Btw, in my part of the world, we don't have Koala populations so close to home like you have. Canberra has Kangaroos everywhere, Brisbane has Koala populations. Sydney just has people, cats, dogs, birds. Scrub turkeys and bin chickens (Ibises) are some of the sights to see in Sydney. The Evil Mastermind Behind Sydney's "Bin Chicken" Epidemic Has Finally Been Caught
Or build those koala rope bridges. I have seen them in NSW and in QLD but I don’t know how practical they are. Never ever seen a koala on them but, maybe they are well used late at night?
... and then put up signage for the koalas so that they know where to cross. I've seen a squirrel crossing sign overseas, with signage on the footpath. Though it was a sillhouette of a squirrel on the sign, so they didn't need to know how to read.
There are signs everywhere and wildlife bridges in place. The koalas are all tagged and travel large distances to breed and to find food/water. There are two developments right across the road from each other. One is koala - friendly, the other one isn't. They are on the same intersection as Bunnings, so you can imagine the traffic. The roads are still 80kph and there are spaces in the wildlife fences.
You need to get out more . We are at Port Macquarie with family for Christmas. We drove past one where the fires have burnt the rope bridge and now there is only rope hanging down each pole. The poor koalas have copped hell from the fires here.
I tried and I tried but I can’t give an answer because it would have to be invest in shares for passive income. Whether for us, a charity or whatever cause the benefits are forever.
