Music Mondays – If I Had $1,000,000

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If I Had $1,000,000

This song, by the Canadian band Barenaked Ladies, has been playing on a loop in my mind since early December when I decided that it was time to take my business to the next level. You see, for the past 16 months, NextGen Financial is the business that I have been running; however, NextGen is just the bootstrapped version of what I want to build.

When I initially came up with my idea for The Financial Gym (my ultimate business goal), I consulted my expert friends and family network and the conclusion of those discussions was to bootstrap my model until I proved that it worked and then I could approach venture capital investors with a proven model to take larger.

After a few months, I knew that my model worked; however, I wanted to have enough clients and financial results to make a compelling argument to my future investors, and by early December 2014 I decided I had enough results to share with others. I spent weeks working on and perfecting my formal business plan, and as soon as the new year kicked off, so did my fundraising efforts.

Humbling and Uncomfortable Conversations

I have been in sales for my entire career, so I’m used to having uncomfortable conversations with others where I essentially ask for their money, but I have to tell you, there is something uniquely uncomfortable about asking for money for yourself. I think the best analogy I can give is that it’s a mix of asking your parents for money and subway performing.

I think of this song all the time because if I had $1,000,000, then I wouldn’t have to subject myself to the humbling experience of asking for money, I would just fund the business myself. It’s an easy solution, but then at the same time, I know that I’m learning a great deal through this fundraising process that would be lost if I had the money myself. Still, it’s fun to sit back and dream about the what-if’s of having enough money to do whatever you want.

So, let’s all take this cold (because it’s probably cold no matter where you are) Monday morning and wonder what-if.

million dollars

If I Had $1,000,000

  1. I would fund The Financial Gym so that hundreds and thousands of people could access amazing financial planning services and classes at prices they can afford.
  2. I would fund the rest of my son’s college education. My husband and I were fortunate enough to have our college educations paid for by our dads and it’s a gift we want to give our son.
  3. I would set aside some “splurge” money to buy some new clothes at TJMaxx, and I would give hubby the same amount to buy whatever he would like.
  4. I would invest the rest, about $600,000, and I would use a portion of the earnings each year to help fund an international vacation for the family. I believe that travel is an important educational tool for kids, and I want my son to have that education that I didn’t when I was growing up.

What I Wouldn’t Do With $1,000,000

In the process of writing this post, I honestly sat for about an hour and thought about what I would do with $1,000,000, and it made me laugh to think that three years ago I would have had a completely different list than I had today. Three years ago, similar to this song, I would have had a laundry list of “stuff” that I would spend my money on, and it would have included a car, a new home, a new wardrobe (not from TJMaxx), expensive shoes and purses.

I talk about my money shift and how I have evolved over time, and it’s funny to me that now even my imagination is financially responsible. When I think of money, I don’t think of how I’m going to spend it on temporary indulgences, but how I can spend it in a meaningful way. I want money to give comfort and support to my family, but more importantly, I want it to make a positive difference in my life and the lives of others.

Gif Source: Giphy 

If you had $1,000,000 what would you do with it?

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Shannon is a financial planner who left a “traditional” financial services firm to start her own company, The Financial Gym, because she felt traditional financial services firms did not have the tools or resources to help people in their 20s and 30s who are starting out and trying to build assets while also managing debt. She realized that the key to long-term personal financial success is a commitment to financial fitness and making smart financial choices. Through her blog, Financially Blonde, her book, Train Your Way To Financial Fitness, her podcast, Martinis and Your Money and The Financial Gym, Shannon is committed to making financial fitness fun, easy and accessible for everyone.

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