What would you do?

NaturalBeauty

NaturalBeauty

Cathlete
With One Million Dollars??? Just sitting at home wishing I could win the lottery lol and I started thinking...what would my fellow catheites do with the money?
 
1st pay off our car notes and the one credit card which is quite low ;)

2nd save some for retirement

3rd put aside an equal share away for our three children.

4th upgrade into a better energy efficient home that fits our family comfortably :)
 
Pay off my bills and my parents' bills
Send some to DH's parents
Make some improvements to our house
Put most of it away for retirement and college funds and live normally, but debt free :)

You'd be surprised how far 1 million dollars does not go now a days!
 
No kidding, Liann!! $ 1 Mio is not what it used to be, I'd take it anyway. One of DH coworkers and one of my friend's won several million in the lottery, I was hoping it would rub off on me but no such luck.

I would give part of it to charity, pay off my bills, buy a new house with a large yard, buy a new car and hire a personal organizer to tackle my never-ending filing and paperwork - which reminds me, this is what I am supposed to do today - BUT I DON"T WANT TOO x( !! Not today, not any other day

....... and then I'd be broke again because I spent the whole million and didn't save anything :p
 
With an extra million, I could finally invest in nice safe investments for wealth preservation rather than wealth growth. My heavily-weighted-in-equities portfolio makes me so darn nervous. After taxes, I would invest the whole thing in treasuries, and go into a blissful state of calm.

The calm would last for a few days, and then I would start to worry that cancer was coming. Happy, calm states make me nervous....:eek: Oy, I'm hopeless. I can't even enjoy winning the lottery. :(
 
>....... and then I'd be broke again because I spent the whole
>million and didn't save anything :p


Lol, see, told you it wouldn't go far! ;) I figure that after paying off our debts and my parent's debts (houses, current cars, etc...), we'd probably have easily spent around 350K. Say I wanted to buy a new house. Around here even with the market the way it is, it would probably still cost around another $350K for a decent home with 2 car garage etc... That's $700K already down the toilet. Probably give the in-laws $100K leaving us with $200K to put aside for college funds if that would even cover it! ;) All that said, I'd love the opportunity to see how fast it would go!!! Too bad I don't play the lottery. ;)
 
Since taxes would eat up about 25% or more, I would contribute or donate those funds to the most neediest in the US and around the world with world hunger,HIV/AIDS, etc...Put some funds to some type of retirement account then pay off debt. Donation out my heart and is wise to offset the capital gains issue.

Very good question.
 
Jennifer, wouldn't a lottery win cause ordinary income as opposed to capital gains? Unfortunately, I've never had to deal with the issue, so I may be clueless on this one. ;)
 
You mean, after I wet myself?

Pay off loans, bills, etc. Buy house. Money for the kiddo's education. Vacations.

New pants, apparently ;)


Debbie


Everyone is entitled to an opinion. It's just that yours is stupid.
 
Pay off the house and cars and invest the rest. Boooooring, I know, but it sure would make for a more comfortable day-to-day life. :)
 
Quit my horrible job :) Do volunteer work as a job, buy the house my husband is dying for and take a very needed vacation!
 
1) pay off my house and have some work done on it
2) pay off my car
3) pay off my cc debt
4) buy a new house (or have one built) with solar panels, enclosed screen porches (for the cats), a workout room (huge! with one-way glass windows along one side), all wood/stone/brick on a large lot.
5) endow a scholarship for French students at my university
6) increase my donations to the charities I already give to
7) travel when and where I wanted

(That should pretty much eat it up, LOL!)
 
>1) pay off my house and have some work done on it
>2) pay off my car
>3) pay off my cc debt
>4) buy a new house (or have one built) with solar panels,
>enclosed screen porches (for the cats), a workout room (huge!
>with one-way glass windows along one side), all
>wood/stone/brick on a large lot.
>5) endow a scholarship for French students at my university
>6) increase my donations to the charities I already give to
>7) travel when and where I wanted
>
>(That should pretty much eat it up, LOL!)

Kathryn, were you seeing TEN million where NaturalBeauty wrote ONE million??? Or do you live in a part of the country I need to move to IMMEDIATELY? ;)
 
"If I had One Million Dollars" I've done this so may times that I've spent $100,000,000.00, Wish I had only 1/100th of this money.

Janie

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The idea is to die young as late as possible.
 
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