So if I am given unlimited funds to plan one day of luxuries, what would I do? Without question, the first thing I would do is to book first class return air tickets for my trip to New York in November next year for the New York City Marathon (if it is possible to book air tickets so much in advance). Since I am going to travel half the world to have a lazy, relaxing holiday…not! I can’t imagine flying economy, arriving in a state of jet lag, and then run a crowded full marathon in the cold just two days later. A flight in the first class cabin would be a dream come true. And next, since hotel rooms are so expensive in the peak tourism season, I would also use the funds to book 14 nights in a luxury hotel in New York City so that I have ample time for sightseeing after the marathon is over.
I would also make some investments — maybe get a property that would hopefully be a diligent cash cow for me in the long term. And then buy a nice little island that I can maybe someday retire to, and get a nifty hybrid car that would save fuel and be kinder to the environment in the long run.
So my first purchases are made with the long-term future in mind. Now that I have taken care of the practical things, I can move on to splurge on whatever I fancy. I would buy gifts for my friends and loved ones, get some Louis Vuitton, Prada, Celine, Birkin and Chanel bags for myself, lots of chocolates, clothes, running gear, winter clothing, and ah maybe some insurance policies for my loved ones (there goes the practical side again), and some blue chip stocks.
Looks like my long-term thinking does come into play quite a lot. This is an interesting prompt that gets me thinking about money–and it’s good to remember that money can be a friend or foe depending on how we manage it. Mindless splurging might just lead to slavery to materialism and temporary satisfaction. On the other hand, money can be the key to lifelong freedom if invested wisely.