How To Spend A Million Pesos
Last week, I wrote about my Real Christmas Wishlist, and in that post, I mentioned that I hope Santa would grant my wish of having Php240,000,000 in cold cash. Many of you may wonder, what's with the 240 million? Why not a billion? Or a hundred billion?
Well, the wishful thinker in me would have said, "the more, the merrier." But realistically speaking, nobody in their right mind would give away a billion pesos for nothing. Heck, not even a million. So why did I wish for Php240 million? It's because at an assumed 5% net return per annum, the Php240M principal would earn Php12 million per year, or Php1 million per month.
With a million pesos coming in every month, I could probably stop working and just retire. But every time I tell a friend about this wish of mine, I almost always get suggestions on how to spend it. One friend even suggested to change cars every year. But ideally, this is how I would spend a million pesos monthly:
- 100,000 - Charity
- 100,000 - Tithe
- 250,000 - Investments (Real Estate, Stocks, Mutual Funds, UITFs, Bonds, Insurance, etc)
- 50,000 - Future children's educational fund
- 100,000 - Medical expenses for longevity
- 200,000 - Living expenses (Food, Clothing, Shelter, Utilities)
- 100,000 - Fun money (doodads)
- 100,000 - Parents' retirement
That's it. Now I gotta find ways to earn Php1,000,000 monthly. How about you? How would you spend a million pesos? Let me know by leaving a comment below. Thanks!
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