Invest write: how to spend 1 million dollars wisely

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Invest write: how to spend 1 million dollars wisely

By | April 2011
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Invest Write

By Drew Adams

I am a 13 year old boy living in the modern world. This world is filled with failing economies, and bailout plans. Lucky for me I entered a contest and won 1 million dollars. How would I invest in it?

I would first set up a plan on what I am going to do with the money. The plan would be to split up the money. Some would be for college. There would be an account for spending money, one for emergency money, and one for necessities. This would be my plan for investing.

The first account I would set up would be for college. 50 % of the 1 million dollars would go there. This is 500 Thousand dollars. The money would be used to help pay for college, and to be able to use it for extra stuff. This would be my account for college.

Then I would make an account for the necessities. This would be 10 % of the money. It is worth 10 thousand dollars. This would be to help pay for food, clothes, and shelter.

The third account would be for the emergency money. This would be 10 % also. It is worth 10 thousand dollars too. This money would be able to help pay for injuries. Or be used for natural disasters. This would be one of the most important accounts.

The last account would be for spending money. It would be 20 % of the 1 million dollars. It would be worth 20 thousand dollars. This money would pay for phone bills, my car, and other stuff. I would use this money wisely though. This is what I would do with my spending money.

Money should be used wisely. If I didn’t come up with a good plan, then what would be the point of getting the money? The most important thing about investing in money is that you only use it wisely. If I won 1 million dollars, this is how I would use it.