How to effectively & productively spend my $590k*10

Published on: October 14, 2021

I've read a lot of entries about this prompt and now, I'm joining in the fun although I am certainly late. Ah, that's not important. I will still go on with this. Courtesy to the one who've initiated this cool prompt!

Who do not want to be rich? Probably most of us, right? Being rich slash having a massive amount of money will definitely spoil you, with expensive privileges, spoil your family as well and give you the freedom to be involve in the corporate world.

What if you have this $590k, yes in usd! I was so beguiled by how other users from here able to allocate such amount with effective-productive causes. Starts with their family, personal needs and wants, even stepping to the crowded corporate world where shark businessmen can easily destroy you. Because, it doesn't mean you have the money, you'll be able to grow your business instantly. You need to develop and formulate impressive, feasible and strong business strategies to sustain and reach for your dotted goals and objectives. Staying in the corporate environment is challenging. You might fall few times, face losses and liabilities and lose confident as well. Yet, a winner is a strong-willed person equipped by determination, patience, and business strategies and ideas to make his venture/s a success.

Now, walking on the shoes of someone who has a $590k in his account, what will I do with this amount? I changed my mind. $590k isn't enough. Let's multiply it by 10, shall we? In usd, 590k is approximately 29, 500, 000 pesos and as I want to adjust and multiply it to 10, then it'll be 295,000,000 pesos. Now, I am ready, to share my plans with this massive amount of money. I mean let me imagine for a while.

Franchise

Franchising existing affluent business names are challenging and quite, no scratch that, definitely risky too especially for someone without background to running a business-big business. Although the risk can be minimized by plotting plans ahead of time, choosing the most suitable location, unleashing target markets as well.

For franchising, I will have to allocate 40m for construction, operation including salaries of employees. Tho I still am looking for a good catch to franchise. The allocated budget will be adjusted once decided.

Real State Business Investment

Business is business and it grows profoundly. Real state has been booming over the years as we all know that and so I'll immerse myself with this kind of business.

Purchase a property

My province is a famous tourist destination. One of the reason why tourist visit here is because of our amicable whale sharks (butanding). You can have an interaction with such species and foreign and even local people are immensely fond of it.

Sorrounded by the clear blue ocean, it is undeniably a perfect place to relax and have a fun time. Weeks ago, my dad was looking for a prospected buyer of this house and lot located near the beach. The potential of attracting tourist to board there is quite good as it offers good view of the ocean. I decided that I should buy that house and convert it into a transient house. Full package of food, spa, and entertainment shall be rendered too.

Purchase Stocks

It's a wise move to look for stocks in the market. Big companies with reputation to promise profits with your investment without requiring you to get involved in the business.

Auto Repair Shop Business for my dad

Dad has known such work since he's attended school for that field. Tho without having the capital to provide for most of the equivalents needed, he wasn't able to pursue it. Now, with the money that I hold (LOL) I promised that I'll give him a shop. $37,000 would be enough to cover all the expenses including the equipments. But, I'll keep in mind to add more budget if it gets short.

Send my brother to college or give him 10m pesos as a start up

Tempting? My brother has stopped attending school and having this money, I thought of giving him two choices. Either go back to college or accept my 10m. I will write a contract stating that he should make the money grow unless otherwise, he'll have to pay for the violation fees. Ahahaha.

Purchase a house and lot for the family

Anyone who has read my previous posts will understand. Being able to provide for the family is quite fulfilling. I'll start with the house of course. Ah, where tho? I'm still picking or I'll let them choose where (still in the Philippines) because I do not want to stay in this very place.

Donate a friendly amount to my (Pub. High School)

It'd be good to see that I had contributed to the reconstruction of buildings in my school. They can decide what they'll do with the money as long as it's useful and usable. Uh uh, but hopefully no one's going to slide some bucks to their pockets. LoL. I guess not.

Invest in BCH

This is my favorite! Crypto investment. Of course, Bitcoincash. Hmm, I'll buy a thousand BCH to hodl because I believe that this coin will rocketeer in the near future. Time should be invested as well. Long term investment is it.

Spoil myself to travel with someone or no one

Uh, my money is draining already, don't you think so? Hahaha. Nevermind. I'll still treat myself. Where should I go tho? This would be my first travel outside my comfort zone if ever so it should be of absolute worth. *Cheeky grin*

Family out, out of the country

That'd be awesome right? I would want to spoil them all. In the future, we'll see.

That's beyond feasible so don't fret

There's so much more I have in mind but let's settle for these for now. Of course, it's all part of my imagination. I won't be able to fulfill all of those plans at once even if I have the money. One at a time is it? Hahaha. And I have to learn so many things about those before letting go of my money...Anyways, those are just wild imaginations you know. Maybe in the future fee of them will come true. Rooting for that. ❤️. And to you who's reading this, I hope your plans will happen. Your dreams as well. Fighting!

Wuhoo. I'm done! Thanks for reading!