Ask the Readers: What Would You Do With a Million Dollars?
Editor's Note: Congratulations to Donna, Suz_Glo, and Trezlen for winning this week's contest!
Many of us aim to be millionaires, and even more of us dream about a million bucks landing on our laps. A windfall like that, with no string attached, can be the boost you need to get out of debt — or a really great vacation.
What would you do with a million dollars? Are you aiming to be a millionaire right now? If so, what steps are you taking to reach this goal?
Tell us what you would do with a million dollars and we'll enter you in a drawing to win a $20 Amazon Gift Card!
Win 1 of 3 $20 Amazon Gift Cards
We're doing three giveaways — here's how you can win!
Mandatory Entry:
- Post your answer in the comments below. One commenter will be randomly selected to win a $20 Amazon Gift Card!
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Giveaway Rules:
- Contest ends Monday, June 1st at 11:59 p.m. Pacific. Winners will be announced after June 1st on the original post. Winners will also be contacted via email.
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I would pay off my home 1st. I would instantly invest 50 % of this and keep the rest in liquid cash, savings, emergency fund, travelling money. I would buy a few small businesses and give back to the community and underprivileged. Sounds cliche but true. It wouldn't change me too muCh
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i would help my family pay off their homes and buy a place of my own
I would invest in real estate with half the money, then take the remaining 50% to split between a college savings fund for my (future) children and a Roth IRA for me.
I would tithe, pay off debt, save, and then splurge.
What I'd do with a million...
1) Create accounts to budget the money and distribute it as supplemental income beyond weekly salary
2) Pay off all my interest bearing debt
3) Set up all zero interest debt to be paid when due, keep invested for interest until due
4) Set up life insurance to provide for my family
5) Set aside the maximum allowable per year towards retirement accounts
6) Set aside a buffer account for my start-up business to cover unexpected expenses
7) Wait until the impending market and housing crash and invest at the lows in a home and stocks
8) Make sure that our family is covered for medical expenses to the end of our lives
I would pay off all of our debts, redo the much needed issues inside and outside my house, then put it up for rent and build a tiny house and garage with a covered outdoor area in our back lot, with a graveled driveway and solar panels, for us. I would put back money for both my nieces' college later. I would build a shelter for animals where their owners who needed to leave a house due to domestic violence, house fire, or other thing that is not their fault could stay and then be reunited with their owner when they get back on their feet. I would give 15 percent to Gospel for Asia. The rest I would invest.
Remodel my house and save the rest!
I'd do a "reverse tithe." In other words, I'd donate 90% to charity and invest the remaining 10%.
I'd pay off my condo and student loans, set aside enough to pay my kids' college expenses and then I'd invest the rest so I can ensure an earlier retirement.
Exiting - Trip to Vegas, all on Black one spin...
Actually - Invest and try to live as well as possible on the interest.
I'd use the million dollars to pay off my daughter's medical school loans and then give 10% of the remaining money to a charity of my choice. I'd invest the rest for my retirement.
I would buy a house.
I would pay off my debt, pay my kids student loans, save and invest, purchase a home
I would buy a house and spread some love around
Thanks! Name is Donna Sako, dlsako@verizon.net is correct address.