Last Updated on February 14, 2022
If you won the lottery, what would you do first? That is a question often pondered by people who stand no chance of winning the lottery. That doesn’t mean there won’t come a time in your life when you do have enough of a windfall to buy a once in a lifetime item. It is your one indulgence.
It might be wise to give that indulgence some thought. While you really don’t stand much of a chance of winning the lottery, you do stand a very good chance to be able to splurge one time. When that moment is upon you, the last thing you want to do is blow it on something meaningless. That is why it helps to take inventory of your fantasy life and get a strong sense of what it is you really want.
It helps to be specific. If you have a few pieces of quality jewelry, your big splurge might be that one unique piece that rounds out your collection. There is a difference between having nice jewelry and a high-end work of art. An oval cut ring could be just the piece you have been waiting for. It will be a one of a kind, and worth every penny. If you happen to be holding on to a few thousand dollars for a special occasion and your life circumstances strongly suggests that this is the moment, Consider the following things people often regret never owning or doing:
A Home Spa
You don’t have to dream about it forever. Why not go ahead and have an infrared sauna for your home installed? This is the sort of once in a lifetime luxury that will also have a practical use for years to come. It doesn’t matter if it adds no equity to your home. In fact, such frills can make your home a tougher sell. But this is the sort of indulgence that has nothing to do with financial investment. This indulgence is more about investing in yourself.
Adding a swimming pool can also make your home more difficult to sell. That hardly matters if you want your family to have a safe and enjoyable time in the water. It is true that a swimming pool is a hole in the ground where you pour lots of money. The same goes for a hot tub. But that is arguably one of the most important elements of a home spa. You are going to retire in this home. This will be the home of family reunions and Thanksgiving dinners for decades to come. It doesn’t matter if your realtor doesn’t like the idea.
An Exotic Trip
One of the best indulgences of all is a trip that takes you to other parts of the world. Culture is both a gift and an education. Give yourself the gift of getting to know other cultures first-hand. And while you are there, you will enhance your knowledge of how people in other parts of the world think and live.If you have only experienced the world through a TV or movie screen, you haven’t really experienced it. You are getting an image from a narrow field of view and getting the story that the director wants to tell. Travel does more than anything else can to humanize the “other” and create a sense of solidarity that will stay with you forever.
You don’t have to be a suit person or a dress person to appreciate a high-quality piece of formalwear. You will feel like a million bucks every time you put it on. What limits a lot of people from splurging on such an item is that they feel they have no place to wear it. But everyone should have at least one good suit of clothes if only as a promise. It is more than an indulgence. It is a promise to yourself that you will go to a starred restaurant at least once a year, or the opera, or just a night on the town. Formal attire is as aspirational as it is practical.You don’t have to win the lottery to have enough money for one, big splurge. When your opportunity comes, consider a piece of fine jewelry, a home spa, a meaningful trip, or a formal outfit.