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Could You Spend a Million Bucks in a Week?

If you have ever seen the film Brewster’s Millions then the idea of spending a huge amount of money in a short period of time has probably crossed your mind at some point.

I saw this movie when I was a kid and if my memory serves me well it involves Richard Pryor having to spend millions of dollars in order to inherit a far greater sum. It is all silly comedic nonsense but I started thinking about it the other day and wondered what I could spend so much on if I had to get rid of a million bucks in a week.

Buy Gifts for Everyone

They say that it is better to give than to receive but does that only apply to small gifts of a few dollars? To be fair, I guess Brewster wasn’t allowed to just give the money away. However, that doesn’t need to stop us from thinking about what we would do in that situation. Personally, I have quite a few family members I’d like to help out financially. If you think about, for example,  the cost of buying a house and furnishing it then this could easily eat up your million if you bought one each for a few family members.  Buying gifts for your loved ones would be great fun and possibly the most enjoyable way of spending all that money.million dollar yachts 300x177 Could You Spend a Million Bucks in a Week?

Buy a Yacht

It’s quite easy to spend a million dollars on a yacht. In fact when I had a look online just then, it seems fairly difficult to pick up a decent yacht for less than a million! Perhaps the luxury yachts website wasn’t the best place to start. It would be pretty cool to set off around the world in your own yacht though wouldn’t it? Maybe dock in at Monaco for a few days during Grand Prix season?

Take a Trip into Space

Is there anywhere else we could go to that would cost more than Monaco? I like the ideas of going to outer space but Dennis Tito had to pay $20 million for the privilege of doing this and spending 8 days away from Earth. My $1 million doesn’t sound all that much now. In fact, the last person to pay for space tourism was Guy Laliberté and he paid $40 million for 11 days in space. There is some talk of suborbital flights costing $200,000 each being available before too long, so I would need to go on 5 of them or else take 4 lucky friends with me.

Expensive Food and Drinks

I already mentioned caviar but is there any way I could eat my way through a million dollars in a week? Super sizing my fast food meal ain’t going to do the trick, so let’s take a look at some of the most expensive meals around. Of course, we need to start off with a classy cocktail, so what about a Diamonds are Forever drink from the Ritz Carlton in Tokyo? This costs $22,000 for each one and shockingly isn’t even the most expensive cocktail in the world. If it tastes good I could drink maybe 3 a day, Not a bad start, as that would cost me well over $400,000 in a week just for a few cocktails. I also get to keep the 21 diamonds which would come with the drinks. For the main meal what about a pizza? They only cost a few bucks, don’t they? Well, at Nino’s Bellisima you can get a $1,000 pizza which is topped off with caviar and lobster. A few of these a day between me and my entourage should manage to wipe another few thousand off my bank account. I also found details of a few expensive desserts, such as the $1,000 Golden Opulence Sundae from Serendipity 3 in New York. With a bit of thought I reckon spending a million on food and drinks in a week isn’t really as impossible as it sounded at first.

What would you spend a million bucks on?

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12 Responses to Could You Spend a Million Bucks in a Week?

  1. catherine says:

    Totally could. Would do the obvious of wiping out all debts. Then would buy a car for myself in cash- nothing fancy but we’re a 1 car family until debts paid off…book a wicked no expenses spared vacation for entire family (inlaws included), go on a shopping spree buying everything we need/want that we’ve been putting off and pay for some renovations. I’d probably “spend” the rest on maxing out our retirement savings for the year and give the rest away to friends/family/charity.
    catherine recently posted…A New Level of Stupidity, PF Style.My Profile

    • Robert Bell says:

      Some great ideas there Catherine. It sounds like you could work your way through more than a million if you really tried

  2. Yep I think I could totally do it! Wiping out debts would take a huge chunk since we have two student loans and three mortgages (two rentals). After that I would buy new cars for the hubby and myself I’m not sure what I’d do with the rest- maybe buy gifts, buy another rental property, or give a nice chunk to a good charity (or maybe all three!)
    Dee @ Color Me Frugal recently posted…Passive Income/Side Hustle Update: November 2013My Profile

  3. Loved Brewster’s Millions! Under the agreement, I don’t think he was allowed to buy a yacht. He had to spend only on things that would not give him tangible assets. My favorite was when he purchased the rare stamp and then used it on a letter. Think I would look into upgrading into a new home. There are a few million dollar homes around I wouldn’t mind living in.
    Brian @ Luke1428 recently posted…Be Intentional: How to Develop a Giving PlanMy Profile

    • Robert Bell says:

      You are right Brian. I thought about sticking to the rules in the post but I couldn’t resist bending them a little

  4. Oh I sure could! Pay off my debt, and my mortgage. That would still leave $800,000 to spend. Get a new car. But a three or four unit rental property. I’d still have $400,000. Fancy trip. If I can’t save/invest it, this might be harder than it looks…
    Alicia @ Financial Diffraction recently posted…Emergency Fund vs Debt Repayment.My Profile

  5. I would buy myself a Porsche 911 and then pay for a weeks vacation at some nice Caribbean resort for myself and all of my friends and family. I buy a few rental houses too. I think that would cover the million!
    Jon @ MoneySmartGuides recently posted…5 Tips To Save On Christmas Gifts This Holiday SeasonMy Profile

  6. Kathy says:

    I’d buy real estate in Alaska, Wyoming and Texas. All no state income tax states so I’d love to invest there. Plus all three have the political and cultural climates that I feel comfortable with. Probably wouldn’t take too long to spend a million in real estate.

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