Having a Million Dollars will not help if you do not have an investment plan.

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Having a Million Dollars will not help if you do not have an investment plan.

I was reading about the wishes of many people what they would do if they had a million Dollars or if they got a million Dollars and most interestingly almost everyone "assumed" that some million Dollars were going to be airdropped to them and with this airdropped million Dollars they have a plan to buy some things for themselves and few other things for their family and investment featured in this later on. But I am wondering if this strategy has a serious flaw ( that of an airdrop of millions of Dollars), Instead of a plan for how they will invest to generate wealth and share it thereafter.

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Actually getting millions of Dollars or even earning millions of Dollars does not guarantee a good future if someone is too spendthrift, waste money, and do not have any plan of investments. Our history is full of examples that include many celebrities at in their helm earned a very good amount of money but ended very badly in the later part of their life as bankrupt and broke. So the more important key here is sustaining and being able to multiply your wealth or some kind of investment plan that can help with it. Secondly earning millions should not make you so addicted to a changed lifestyle that you need to earn millions to maintain it and if you are not able to earn it, you are getting depressed or going in the debt spiral.

Maybe "million" might be a little big word here but the problem described here is relevant because we see many people in clutches of credit card debts or personal loans though they earn good money. The lifestyle choices they make, always make them miserable.

So in my words, It is not a million dollars that will make you happy but it is always having more money at your disposal than your expenditures will make you happy

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I think you quite rightly said, its not about having more money until we have a good strategy to retain and channel it into a system called as -investment.
I had a pretty similar type of concept in the past and now my views are expanding in positive way as I am learning more.

But, this is a fact that we all should have.👍

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Thanks for your stop by. Rightly said ,earning more without saving will not help.

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A million dollars isn't worth as much as it was in the past and I agree it depends on what you do with the money. It reminds me of how lottery winners tend to lose most of their winnings.

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(Edited)

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