What would be the first thing you buy?

[eLdavis]

In a situation where you won the lottery of let's say a thousand dollars, what would be the first thing you buy? Some persons might talk about investing or saving and the likes, but before you do that, do you have anything in mind you would like to buy? Personally it will have to be a new laptop and smartphone, I am way over due for new ones. After that I can start planning how to save or invest.

 

[Kingpin]

I don't have anything planned to buy so I will deposit all that money in my bank

 

[eLdavis]

You are lucky then. I have so many things I need to buy but the phone and laptop is top priority because it is what I use to make money on a regular or daily basis.

 

[Kingpin]

My phone is fairly new and don't need a laptop so I don't have any such thing to buy

 

[Sanjeev]

If I win a good amount, I would like to buy a new house because my present home is a small one and I find it difficult to adjust to. It's my parents house, and I want to have something of my own.

 

[Kingpin]

That will also be an investment so that's a good planning bro @Sanjeev I'll also do that if I win a big amount

 

[arunima25]

I have nothing as such planned. But if I get that surplus money, I will go for a rocking chair in my workplace at home. It's been a few months since my last one broke after serving us for so long. I have been thinking to get a new one since then. I might get one garden swing for my terrace garden from the leftover money.

 

[Sanjeev]

That will also be an investment so that's a good planning bro @Sanjeev I'll also do that if I win a big amount

I have always thought of buying a property because I know the rate of property increases with the time and we may get some rental income of the property. Recently, I am planning to buy mutual funds. I would appreciate if someone tells me which mutual funds should I buy.

 

[Ginger]

I would like to start my business and if I have enough money then I will start that but I don't know when I can start working on it

 

[arunima25]

I would like to start my business and if I have enough money then I will start that but I don't know when I can start working on it

If you have some business that can be started in a small budget like 1000 dollars, it would be the best choice to do so. Even if the budget is more, this money can be a bit of help. What's the business that you plan?

 

[Sanjeev]

I would like to start my business and if I have enough money then I will start that but I don't know when I can start working on it

Do you have plans to start a business? If yes you don't need to wait for the lottery to win, you can start by taking a business loan from the bank. Its not difficult to get loan on the business , you have to fulfill few things asked by the government to get it.

 

[Ginger]

Do you have plans to start a business? If yes you don't need to wait for the lottery to win, you can start by taking a business loan from the bank. Its not difficult to get loan on the business , you have to fulfill few things asked by the government to get it.

I am not even sure of what business I should start, I can manage the funds through loan but still unsure of what business and then I need to leave my job for that

 

[eLdavis]

Am sure there are lots of businesses that would suit you, you just need to take your time and make sure research. There might be one that would attract your interest. Getting a new house is a great investment @Sanjeev

 

[Sanjeev]

Am sure there are lots of businesses that would suit you, you just need to take your time and make sure research. There might be one that would attract your interest. Getting a new house is a great investment @Sanjeev

Yes, that would be a good investment. The rate of property is so high here. A middle-class person cannot afford it. I would be pleased to win a lottery to buy it. I have a dream of having a good rental income so that I may live happily after retirement.

 

[eLdavis]

Yes, that would be a good investment. The rate of property is so high here. A middle-class person cannot afford it. I would be pleased to win a lottery to buy it. I have a dream of having a good rental income so that I may live happily after retirement.

Seems it's everywhere? Over here, even to rent a good two to three bedroom flat with modern equipments, you should be willing to spend close to a million or more in our local currency. Buying a house right now is on another level.

 

[Sanjeev]

Absolutely, one can make good rental income through it. My elder brother has lots of property here and gets rental income to the extent that he says that even if he doesn't continue his business after retirement, he may be able to live happily.

 

[Teegold]

The first thing I will buy is a very good meal, I don't care how expensive it will be. I really deserve it

 

[eLdavis]

The first thing I will buy is a very good meal, I don't care how expensive it will be. I really deserve it

Hehe I can imagine, what meal would you choose though? A good African meal or chicken and the likes?

 

[Ginger]

I am also thinking about investment all the time and would like to invest in real estate or in Physical Gold

 

[eLdavis]

Absolutely, one can make good rental income through it. My elder brother has lots of property here and gets rental income to the extent that he says that even if he doesn't continue his business after retirement, he may be able to live happily.

This is one of the best forms of investment out there till date. And the best part about this is that these properties can even be passed on to later generations and still generate income for them if proper care is being taken.