Money Reasons had a pretty cool post last week detailing what he would do if suddenly became rich.

I thought it was a pretty cool post and it got me thinking of the things that I would consider doing if I got rich.  And by ‘getting rich’, I define that as being financially independent where going to work and collecting a paycheck is not a requirement.

Here are a few things I would do:

• Pay off the mortgage and all other debt (currently two student loans) – Why not make the first thing to become totally debt free?
• Travel – We love to travel, so we’d probably go back to Hawaii and go to some other places
• Invest in some real estate – I wouldn’t necessarily invest with the purpose of seeing the home values go up, but I would probably buy homes or condos in areas which we would want to frequent, and then use them as an income stream to defer at least a portion of the costs
• Invest conservatively to guarantee an income stream – I want assurance that me and my descendants are going to have money.  This would be invested in a way to guarantee an income stream without depleting principle.
• Guarantee college education – For my children, and children in the family and those of close friends, I would ensure that college expenses are handled.  Education is key and I would want to do my part knowing that my money would help further that.
• Do good – I would spend a lot of time working to ensure that some of the money (at first and in an ongoing basis) would be used to fund worthwhile organizations.  
• Pay to enjoy life – If I had the means, I would definitely pay to have things done that we don’t necessarily enjoy doing.  Things like cleaning the house, yardwork, etc.  
• Buy a Corvette – I’ve always loved these cars, I owned one for a brief period a few years ago, and would probably buy at least one of these beloved cars.

 What else am I missing?  Is there anything that’s taking it too far?  What would you do?

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