Would You Give Money Away If You Had $1Million?

Earlier in the week, I was one of several people who answered Jim’s question: What Would You Do With $1 Million Dollars?

Once I’d done a mental currency conversion ($1million = £500,000 which is actually not too far out, given the current exchange rate), I figured that I would:

1. Pay off my mortgage (£150k)
2. Save £150k
3. Invest £150k
4. Spend the rest (£50k) on holidays, new car etc.

Unlike many of the other responses to the question, I didn’t say I’d give any money to friends or family, let alone donate any to charity. Which makes me feel a little guilty. But I’ve thought about it again, and my overwhelming feeling is that I would look after my kids, partner and myself first, and although £500k is a lot of money, I probably wouldn’t feel inclined to automatically give any away.

Does that make me a bad person?