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Sabrina | If you won $1 million dollars, what would you do with it? |
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stingjam
 |
US$1,000,000??
$120k into Olint investment club. $80k into a tax free investment for retirement purposes.
$250k x 2 to buy two houses.
$100k to buy an apartment to live in.
$7k pay off loans.
$23k for a vacation.
$30k to fix up my parents 'extra house'.
$30k in a petty cash account.
$100,000 in an easily accessible investment account.
$10,000 in an account for my attorney and accountant fees for first year.
I would only tell my friends about winning '40k' and we could have a small ball till that money is over.
Do the math. I could celbrate winning nearly a $100k per year every year for the rest of my LIFE without ever being broke AGAIN. |
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originalfoxboy
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250,000 to start a Business
70000 - 80000 for School
250000 -Home and Car
30000 - for investments
the remaining 400,000
would go to savings
not to terribly exciting |
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MISTY B
 |
First I would contact a tax attorney.Have them find ways for you not to be taxed repeatedly--ie. If you just put it in a savings account you pay interest every year when tax season rolls around. Pay off all bills and credit cards--don't use cards again, you just are paying interest. Buy a house outright, then all you need to pay are utilities and taxes each yr. (unless you are getting the money in installments) Do not quit your job unless you don't plan on having any children. I have a son, so I would earmark $ for college and possibly enough for a house for him if I could invest it well enough. You probably wanted a list of cool stuff to buy (I think a house is cool, for me it is anyway) Sorry if isn't the help you were looking for but I grew up paycheck to paycheck and for the most part unfortunately still do. |
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rlc_60504
 |
Pay off the mortgage, put 100k into each of my kid's college funds, and then put the rest into savings. Having the mortgage paid off and a huge leap in the kids college funds would make life so much less stressful. |
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Jenny Kim
|
I don't have much debt (around $2,000 or so), but I would definitely take care of that first.
After that ... I'd probably give a lot to charity, maybe help some of my friends pay their debts (some of them have big student loans) ...
.... and then I'd probably save/invest the rest for retirement ...
I honestly don't think my life would change all that much if I won tons of money.
The only thing that would be noticeably different is that I would pay cash for my next car, instead of financing it. But I wouldn't buy a flashy expensive car; I would just buy a "normal" one.
.
. |
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LOSTINSPACE
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buy a new bum mine has a crack in it. |
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falcon
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Invest 90% of it wisely, and donate to a worthwhile charity the other 10%. |
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Prince A
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i would give quarter of it to God and quarter of it to a Charity or Children's Home and the rest i use it for important things., |
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Emily M
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get a unicorn and ride it to djbouti
then give the rest of the money to some kid
chillin on the ground
^____^ |
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wh000aaa
 |
Buy 200,000 more lottery tickets and REALLY make some $$$. |
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silly 123
 |
Pay off my student loans. Buy a house, travel the world for 6 months, and invest the rest! |
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debbireed
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Pay off my house, then rent it so I can buy another one. Buy a duplex and rent it as well. |
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Barb Outhere
 |
Firstly I'd go an do a year's course on small business/small farm management, with side lines in animal husbandry, horticulture, etc. $40,000 (Course and 1 year's living expenses for me and my family.)
Then buy a house with lots of land - 40-50 acres prime farming and a 3-4 Bedroom house, hopefully with an orchard/grapes/vegetable patch and associated shedding, dams and /or water source, about $400,000 to $450,000.
Put in place a permaculture system, utilizing as much of the present structure as practical $100,000.
Modifying the house, installing solar and wind power, and solar hot water, combustion heating, cooking so I'm "off the grid" (power self sufficient) $20,000 - $40,000.
Investing in good quality small stock - chickens, goats, rabbits, geese etc. $20,000 - $40,000.
Register as a primary producer, for the tax benefits, and the discounts.
Then run the place to hopefully be self-sufficient and with enough of an annual return to get professional help when required, and not to have to touch the left over money (about $300,000) which I would put towards supporting other Eco-friendly alternatives.
Hey that's MY dream.
***Here there's no direct tax on the winnings, just on interest earned on them. |
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Wild Child
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I'd spread some around to friends and family and put the rest in smart long term investments. I'd make my money work for me. |
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malamoutha
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In this day and age 1 mill aint what it used to be!
I guess pay of the house get new cars go holiday then there isnt much left, help family, donate a little as a thank you and then thats it! |
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leazngurl
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I would go shopping, buy a new car, fix my teeth, get back into college.
I would definitely donate some to charity. |
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Type O'
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put it in bank for a year
live off interest
and invest |
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al
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Believe it or not put it in the stock market, although I'd keep out 100K for spreading around money |
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kevin h
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I would pay off my house, take $100,000 and buy all kinds of crazy things and do home improvements, and put the remaining into several different investments. I would keep my job, but retire early. |
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hunter/jumper and dog trainer
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easy...
i would buy a nice farm and some geldings... maybe a few mares (appaloosas, irish hunters, arabians, and maybe some other breeds), hire REALLY good trainers, have nice house and a beautiful barn, a bunch of german shepherds, and an amazing kennel to keep them in... life would sure be good |
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Jonathan
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quit my job, pay off my bills, and go to school. Oh yeah, I'd probably buy a bunch of stuff I really don't need. |
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Rocsi
 |
I would buy a lot of clothes and travel around the world. |
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Quicksilver82778
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Buy a million dollar car lol jk
Upgrade to a nicer home, buy a used 07 Z06 and invest the rest. |
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Fatdude427
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What an interesting, excellent question!
My Fiance and I were just discussing this very subject today!
This is what I would do, if I won one million dollars:
-I am assuming that it is tax free.
1. I would give ten percent to the Church. I probably wouldn't give it all at one time, nor would I give it all to one charity or Church or benevolent organization. I would try to spread it around some, and help many different humanitarian and Christian causes.
2. I would hire a financial expert. I would want a professional to give me sound advice as to what course of action I should take- that is, should I save all of it, or invest it, or ? Etc.
3. I would give some money to my loved ones, and to friends or people who desperately and genuinely need monetary help. I may give 10% of the whole lot in this fashion.
4. I would save 50% (at least half of it) and put it in a high interest, secure, insured bank account.
5. I would pay off all my debts- and, I would pay off all my Fiance's debts, my parent's debts, and my Fiance's parents debts. This would cost me...
hmm- perhaps $200K.
6. The remainder would be approximately $50K or so. I would probably buy a brand new manufactured home on a nice piece of property in North Georgia (I live in the Atlanta, GA area). I would probably want a tract of land with around 5 acres of property or so.
I think that is about it!!!!!!!!!
Thanks for asking!!!!!!!!!!!!!!!!!!!!!!!!!! : ) |
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RJ
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invest it for the future |
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InspirAsian © Mitchell Myers
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buy anything you wanted.:-). |
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jamaican babe
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Buy a house in Jamaica for when I am visiting there. |
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white
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I would go NYC to study and make frequent trips back home. |
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Amy
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house in the country, sailboat, and a kayak |
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2pac died for your sins
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I would purchase a decent house for myself, since I am single. I would save the rest for retirement. |
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Xochitl
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I'd invest in a company! In CA a Mill. would get you a decent house, so I would do either one of those, and DONATE some of it to a charity. |
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Careing Hearts
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I'll put for my son collage education from me and he's father. He's is no longer with use he died before he was born. And I told his father you will always be apart of what we do. I would give to elderly and home less. And give them a gift card to buy food. And also so help love one that are in need. And help two church's and schools to have healthy life's. And give in home care to cancer patient. |
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