Believe it or not I really know. I would pay my tithes and offering. I would set up trust for each of my 4 daughters. Set up several community outreach programs to assist the community. And live and live and live for Jesus!
If I ever won a hundred-million dollars, I would give away almost all of it.
I would definately give money to my church. I would also pay off my house and make sure my husband and I had new cars/vans (ours are very old and paid off). Then I would ensure that there was enough money put aside for all three children to complete their private school education and complete a college education (with grad school if they choose). After that, I'm not certain. Money for charity and for our church missionaries. I would want to be able to eat out where we want to instead of where we have coupons for, and do some special things like take the kids on vacation on an airplane. They've never been on an airplane and want to.
Basically, I would hope that certain things in life could be a little easier, but I wouldn't want to change much. I like the school my children attend, our home, where we live, and family, we just need some upgrades and not having to worry about where money is coming from.
I would donate a portion to the humane soicety put my sis through collage pay for my mothers sugery and use a little for me
I'll surely buy a Lamborghini reventon and i don't even think of the rest. Some money will be saved for its future maintenance also. I think i'll give major part of my money to my relatives and again the rest for charity purposes.
The same thing I would do with $100, $200, etc. the principles of financial stewardship/management are the same regardless of the amount money one has accumulated. Minimize tax, increase growth, preserve capital, planned giving, estate planning...having a plan in place helps with emotions associated with a substantial windfall.
I would also have a plan to protect my family from the riff raft who will try to take advantage of our new found wealth. Feenix may have the best solution...give most of it away.
Feenix is correct. Everyone would give 1/2 away. Right to the IRS as taxes. After I did that, I would go to work tomorrow, just like the day before I won. I would take my time, get advice, and make a solid financial plan for my me, my family, and charities I would like to support.
I would buy a small island, build a giant house of armored glass, in the jungle of the island, and the biggest water-slide in the world, which would start from my bedroom window and end in the ocean. Then I'd buy a panther for a pet.Then I'd buy another panther because it won't be fun with just one. Then I suppose I'll get bored with the Hawain life and I'll buy a hotel in the Alpes (for some extra profit). I'd give the rest to my family and the church - the rest of the rest.
Pay out debts & a bit extra, help out family, set myself up with some of it & give the rest away to a cause I believed in. Would like to start my own non profit day service for people with disabilities so would invest part of the money in getting that started also.
Being honest and I hope I am not sounding too selfish here. I would first pay off our tiny condo. We are very miserable here for many reasons (things we didn't know about until after the papers were signed.) and we really want to leave before my daughter has to go to school. We would then get a home. We would give a lot to our family and friends. Put money away for our daughter and possible future children. I'd be able to get decent help for my fibromyalgia too. We'd also pay off all our debt. I'd save some shelter animals since I'd definitely be able to afford the vet bills and than I'd donate to different causes.
Very fun question, Brett, and I like that you made the amount enough for this time in history. I would take $240,000 and pay off the condo we bought that's under-water; $40,000 for the rest of our debts; I would buy a little house near Balboa Island, CA for $2,000,000; I would pay off our son's $100,000 student loan. (So we're up to 2,380,000). I'd give each of our 3 children $2,000,000. (Now we're at 8,380,000) Then I would give every family member (brother, sisters, etc. a million dollars) That would be about $18,000,000. I would give each of our friends $500,000 each (hmmm... maybe that would be bring the total up to $28,000,000. I'd then be like "The Millionaire" on that 50's program on TV and randomly give money to homeless people in various towns throughout the country for about another couple million. I'd do that until it got unwieldy; then I'd give the rest to the Federal Government to help rebuild the infrastructure, promote oil independence, solar and wind energy projects, start an interim WPA CCC program until the economy got better; and support other projects like TRIO Student Support Services, McNair Foundation, etc. - all of this latter part just so the Republicans would stop complaining about taxes!
I would secure my family from worrying about house payments and necessities for their lifetime with a stipulation my children finish at least an Associates in college.
Then I'd pay a lot of money to Uncle Sam.
Then an island with a reasonable house (not a mansion) sounds pretty awesome with a boat to get me out of there when big storms come. I'd like to open an orphanage with the best park in the world for the little kids to play and hire amazing people to love them.
I'd donate quite a bit to helping children with cleft lip and palate get free surgeries. Then hire an investor for the rest so that I can continue to help others like the wounded soldier program.
And somewhere in there hopefully find a doctor to help me.
After I got the money I would put it in two or three high interest savings accounts. One account would be for my spending the other for other people. I would hired a lot of people to clean up the environment and give some to charities. I would also buy a nice house near a beach, do a lot of traveling and try new things.
Another thing I would probably do would be to start some websites and pay people for good content.
Some of the money would go to animal, civil rights, and environmental groups, and I would definitely fund a feline spay and neuter program. It would be amazing to open a cat sanctuary as well.
Everyone in my family would either get a modest house or their mortgages paid off. My youngest niece and nephew would get to go to the universities of their choice, and the older ones would have their loans paid off.
My husband could have anything he wants, and I imagine we'd end up with a house on the beach and a mountain home--nothing too extravagant but with great security. And, although it may sound cliche' and old school, he'd finally get the Caddie he's always wanted. At least they're not big, whopping tanks anymore.
With that amount of money, I'd have plenty to invest, create my own foundation, and give to other charities. I would build my dream home complete with a private figure skating rink and stables. I would definitely share the rink with other skaters and the stables with others.
I'd buy a country house with a few hundred acres of land. I'd pay servants to look after it for me and I'd dress up and pretend I was an Edwardian aristocrat all day.
Like so many, this is a dream I have each time I buy a ticket! I have thought of this so many times and know exactly what I would do. I would first make sure my bills were paid. I would set up college funds for my children to make sure that they went to school before they could receive a trust fund of 1,000,000 each. I have two children. They would have to work at least 5 years as well to learn the benefits of working, buying, responsibility and so forth. I would give each person in my family 100,000 each. I have 9 siblings. I would give each of my nieces and nephews 10,000. My siblings aren't dirt poor but they are all laborers and few of them have any kind of retirement plan or pension on which to retire on. I am a teacher and I would buy things for my district as well that would directly benefit the students. I would build my 1 story dream cabin on property that had winding trails and a stream or pond on it. Then, I would have fun! I would become a secret philanthropist and help those in need in my home town or in my area. I know of so many families that have no money and cannot afford housing, transportation, bills, etc. and have children that live without basic necessitites. Nothing would bring me greater joy than to secretly act as "Santa" throughout the year and watch from the side as these people receive much needed items for sustaining their lives.
Sadly, have to come to grips with the fact that come next years tax filing deadline I would have to right a check for $35 million to the IRS.
In the interim I would blow the remaining $65 million on sugarless gum with teeth whitening additives, cheeseburgers and lip gloss.
I would like to suggest you to purchase the condo from the New Condo company in the Singapore. Because it is the best property investment in Singapore.
by StayPos 3 years ago
If you received an unexpected inheritance of one million dollars what would you with the money?Oh and by the way the taxes have already been paid :-)
by manofmystery24 20 months ago
How would you use the money?
by cupid51 10 years ago
What would be your reaction when you get hundred million Dollars?
by Scott Mandrake 12 years ago
A recent thread mentioned giving every US citizen $1,000,000 as a possible solution to the current economic crisis. I wonder, if by some chance you were given that amount of money, would it really make your life betterTell me what you would do with 1 million dollars.Scott
by Wayne Brown 3 months ago
You just won ten million dollars in the lottery, what do you do now?
by James Robertson 3 months ago
You aren't much of a gambler but you decide to buy one lotto ticket. You check up on the numbers a few days later, well after the lotto has taken place, and what do you know? You won!!! You are the newest lotto winner!! To keep things very simple lets say, after taxes, you come out with $1 million....
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