What would you do if you had $10 million at your disposal? The average American would spend all of it in seven years, according to a new study.
Research conducted by OnePoll asked 2,000 Americans what they would do with $10 million and surprisingly many would take their time spending it. Thirty-eight percent of participants claimed it would take them more than 10 years to spend the money, with just 11% saying they would splurge and spend it all under three years.
More than half said they would invest or give some of the $10 million to family members. 47% said they’d stash it away in savings while 43% would pay off debt with their money.
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Charity wasn’t amongst the highest ways of spreading the money, with just 37% saying they would donate to charity.
But for those who wanted to splurge and spend it on all-or-nothing, half of the respondents said it would be on a dream home. Nearly a third said they would buy a vacation dream home while almost a quarter (24%) would dish out the dough on a new sports car.
Others said they’d find ways to explore the world with their fortune. Forty-three percent would travel and another 27% said they would go on a luxury vacation with $10 million. Some, even, dreamed bigger: 15% would even buy their own private island.