Essay about If I Had A Million Dollars

777 Words Aug 1st, 2015 4 Pages
If I had a million dollars
If I had a million dollars, I would first split it into three parts: 30% in savings, 50% in investing, and 20% in chequing. That means I would be putting $300,000 in savings, $500,000 in investing, and $200,000 in chequing. By saving, I mean actual savings, I will put my money in a secure bank and won’t ever touch it unless it is an emergency. With the 500,000 dollars I will invest it in just real estate. With 500,000 dollars you can buy a small, but convenient house in Burnaby. I will rent it out as passive income, for about 1000 dollars a month, and sell it after the price of land goes up. I know 1000 dollars a month is quite a lot of rent, but in British Colombia, I think it’s reasonable. At this rate, I will be able to passively earn $12,000 per year, and after my 3 more years in high school, that will bring me to a total of 36,000 dollars. Now add that total to the price of the actual house/land, and you get a grand total of around 550,000 dollars. Now that’s 50,000 dollars of passive income in 3 years. Of course during that time I wouldn’t have been working because I would’ve been going to school. With the 200,000 dollars I have in chequing, I would but myself a small apartment, a car, and other necessities I need in life, and leaving the rest of the money for food, gas, (etc.) I would put the 50,000 dollars I passively invested into savings and then use the remaining 500,000 to start my own company. Now I would have 350,000 dollars in…

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