How would you retire with 5 million euros?
I was chatting with Diego and we ended up talking about “what would you do with a huge amount of money”, more concretely “How would you organize your life to stop working and live from that money”. At the end of our conversation we agreed to talk about it in our blogs. If you want to make the same mental exercise in your blogs, the conditions are: you have 5 million euros and you can’t continue working or create your own company.
The first thing I would do is to look for professional advice, so I can guarantee that I can live from my money for the rest of my life without problems. Probably what I would do is to invest two millions in stocks/bonds/etc, next two millions I would use them to buy houses and the last million to enjoy it. Once I have my first two millions invested I would start looking for ideal places where I would like to live.
Diego suggests Panamá as an ideal place: low criminality, good weather, taxes are very low, 1 square meter next to the sea costs 40 dollars at most, and you can get a VISA if you demonstrate you have a 500$ income per month. I would say Hawai, Okinawa, north of Australia or New Zealand; all of them paradisaic places, low criminality and stable economies. Once I buy my ideal home I would travel during two years, practice my hobbies and visit my friends and family around the world. At the end of those two sabbatical years I would create a family and enjoy it, I would use my free time for hobbies, sport and probably I would concentrate in writing; lately I’m discovering that I really like writing. I would also continue studying new stuff, I’m an addict to studying and learning. I would use some money to create or help some kind of foundation/service on the Internet, but I would not only help with money I would also participate actively; I think it is important to have something to do. Of course I would continue traveling and I would buy an extra home in Tokyo, Sidney or Barcelona.
I think I covered what I consider the most important things in this life: health, family, friends and self-realization. I lied at the beginning, the very first thing I would really do is to buy a new computer and a new camera 🙂 What would you do?