By Harriet, Editor At Large
We are preppers and pride ourselves in becoming more self sufficient over time. But how often do we think about what we might do if all went well for us personally? One of the reasons that most of those who win the lotteries have nothing to show for it after several years is that they don’t see themselves as being successful, with money. They have no way of cementing in good fortune so it continues to pay dividends for decades to come.
So what plans do you have to manage an unexpected bonus or windfall? So how would you set up to manage the following good fortune?
Receiving an unexpected $5?
Receiving an unexpected $50?
Receiving an unexpected $500?
Receiving an unexpected $5000?
Receiving an unexpected $50,000?
Receiving an unexpected $500,000?
Receiving an unexpected $5,000,000?
I won’t take it any higher than that? My imagination only stretches so far at the moment.
$5 – an extra couple of something for my preps, probably dish detergent this week
$50 – into the emergency compartment of my wallet. My last one got used up in a difficult week
$500 – into my emergency stash
$5000 – straight off the mortgage
$50,000 – would pay off the mortgage with a little to spare
$500,000 – pay off the mortgage then set up some investments we have in mind
$5,000,000 – this would be more difficult. We’d need legal advice in the setting up of trust to manage what we wanted to do. I’d want an ideal bug in property and a bug out one.
So do you know how you would use an unexpected bonus or a change in family fortunes where you are doing better each month than the last one?
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