Invest for solidifying my retirement. If anything else remains, help children with some basics (ex: down payment on a first home, etc.). Then see what I can do to assist charities
First and foremost, pay off my mother's mortgage and set her up in a senior living community townhouse. Second, pay off my brother-in-law's student debt. Third, set up a fund for my in-law's. Fourth, pay off the remainder of the debt for my husband and I. Fifth, invest in my husband's business for new equipment, upgrades, building repairs, etc. The remainder would be invested to give us some additional income down the road. Both my husband and I enjoy working and are young enough to continue to do so.
First, I would re-landscape my front and back yards for drought-tolerance and put in drip irrigation. Second I would at least investigate putting in a grey-water system diverting water from laundry, showers, bathtubs and sinks to the landscape. As you can probably tell, I live in a dry area of California where droughts are long and common. Then, I would bump up our emergency savings and put aside enough for a good, low-mileage, economical car (ours is in good shape but aging). Then, because our house is already paid for and we have no revolving debt, I would invest the rest conservatively because I'm 65 and my husband is 72.
Since I have stage 4 bilateral lung cancer, I would first pay the tithes to my church, then pay off my mortgage, medical and other bills, so I could retire and not have to work while fighting this.
I have actually thought a lot about this. First, I would not spend any of it until the IRS and state income taxes are paid on it. Once I KNOW my true balance, I would pay off my sons debts, school loans and house loan. I then my help out a few people I know really need some help. I would try to keep the rest in mixed investments which I would hand pick one at a time after much research. I don't need much to survive but I would like the security of having money for the future for helping others and my own emergencies.
All good info and much appreciated...
We use the big A quite often and signed up for prime to save on S&H plus an occasional movie (cancelled cable-netflix is much better). I price compare extensively before buying most things (including local tax and the $7 gas cost to go to town shopping) and have found Amazon to often be the cheapest route - but not always.
Recently I have noticed Prime prices getting higher and that some of the 'other' sellers listed will have a better price (but offset with S&H)- if you go to THEIR WEBSITE they sometimes offer the same or better price plus free shipping, which then undercuts the inflated Prime price.
Also recently, even with tax and gas, I have found Lowes to be cheaper on a couple Bosch tools when bought with their 5% off Lowes credit card, so it looks like greed is setting in or the cost of drone R&D is going up up and away!
Tithe. Hire a reputable tax adviser. Pay the taxes. Then we would do what we already do, but on a larger scale. Give to organizations we believe in. Help family. Put savings towards retirement and a visit to friends in Italy.
I would save most of it for now, as I am single and currently renting an apartment (not stationary enough to buy yet). I would use a small portion of it though to replace some things I have been avoiding.
Assuming we had all 1 million to work with, and taxes were already handled, first $100,000 would go to our local church. Next we would pay off the rest of our house and finish the kids college funds. Replace both of our 10+ year old cars with late model pre-owned cars. Take a vacation in Italy and Spain. With the remaining $450K, $350 would be added to retirement accounts, and the remaining would be used for Investing in mutual funds.
I would help my children pay their student loans after tithing the original million. I would travel to visit relatives, invest the remainder and use only the dividends for charity or expenses.
If I won a million dollars, I would:
$250,000 for state and federal taxes
$100,000 to the church for tithe
$150,000 for my mortgage payoff
$50,000 for my sons student loan payoff
$10,000 to pay off all short term debt
$50,000 to purchase the lot next door and start my small farm
$50,000 to daughters college fund
$50,000 to other son for whatever he needs
$100,000 renovations on the house
$30,000 for my husbands new truck
$160,000 to have as combination savings, rainy day fund, and spending.
If I won a million dollars, I would:
$250,000 for state and federal taxes
$100,000 to the church for tithe
$150,000 for my mortgage payoff
$50,000 for my sons student loan payoff
$10,000 to pay off all short term debt
$50,000 to purchase the lot next door and start my small farm
$50,000 to daughters college fund
$50,000 to other son for whatever he needs
$100,000 renovations on the house
$30,000 for my husbands new truck
$160,000 to have as combination savings, rainy day fund, and spending.
I love this daydream LOL. A million dollars - let's play it's after taxes since we're daydreaming . . . hmmmm . . . pay off my mortgage, three trusts for my kids andthe rest in a nonprofit corporation as seed money to go out and fund good works
Hook up the camper and hit the road! Travel around the United States and learn about the history of the places we visit. Stop and see some of the natural wonders.
I would buy my disabled mom a little farmhouse somewhere she can have horses. I'd pay off my sisters student loans and pay for the rest of her college. I'd talk my brother in to having the chest surgery he needs and pay for it. I'd start my own business and employ my jobless dad. I would hire contractors that wont steal to finish my grandmothers home. I guess i would like a bigger apartment. And i would pay of my credit card. I would spend some time trying to figure out what i want to do with the rest of my life. I'd look into different thinks i like to do. The remainder would go into a savings account.
I am older, already collecting full soc sec benefits so I would be in a spend mode.
First thing I would do is set up education/home buying trusts of $100k for each of my 5 grands. $500k spent.
Next I would look into a MAJOR around the world kind of trip(s). I have not had any vacations since 2008 and the ones from 2005-2008 were done on the cheap: driving, bringing/prepping my own food.......
I'm 25 and fiancé is 23. I'm in the 750s/740s fico confirmed with mortgage inquiry and fiancé is 730s. We both drive affordable toyota sedans with 400 and 320 payments respectively. I have no student loans, fiancé pays almost 180/mo but is still in school. Our new home is currently being built and scheduled to finish August or September. No parent help no gifts, we're on our own. Did I mention we have a 15mo old in child care? We have a strict 800/mo savings plan. We pay bills, buy food, little to no entertainment. We act like that 800 isn't ours. The key to home purchasing is credit score, and save save save which includes sacrifices of luxury items.
Invest for solidifying my retirement. If anything else remains, help children with some basics (ex: down payment on a first home, etc.). Then see what I can do to assist charities
I would invest and pay off some family debt
First and foremost, pay off my mother's mortgage and set her up in a senior living community townhouse. Second, pay off my brother-in-law's student debt. Third, set up a fund for my in-law's. Fourth, pay off the remainder of the debt for my husband and I. Fifth, invest in my husband's business for new equipment, upgrades, building repairs, etc. The remainder would be invested to give us some additional income down the road. Both my husband and I enjoy working and are young enough to continue to do so.
I would pay off debt, donate some, and invest some.
First, I would re-landscape my front and back yards for drought-tolerance and put in drip irrigation. Second I would at least investigate putting in a grey-water system diverting water from laundry, showers, bathtubs and sinks to the landscape. As you can probably tell, I live in a dry area of California where droughts are long and common. Then, I would bump up our emergency savings and put aside enough for a good, low-mileage, economical car (ours is in good shape but aging). Then, because our house is already paid for and we have no revolving debt, I would invest the rest conservatively because I'm 65 and my husband is 72.
Since I have stage 4 bilateral lung cancer, I would first pay the tithes to my church, then pay off my mortgage, medical and other bills, so I could retire and not have to work while fighting this.
I'd have my mom retire, fund college for my grandson, renovate my kitchen and donate to charity.
I have actually thought a lot about this. First, I would not spend any of it until the IRS and state income taxes are paid on it. Once I KNOW my true balance, I would pay off my sons debts, school loans and house loan. I then my help out a few people I know really need some help. I would try to keep the rest in mixed investments which I would hand pick one at a time after much research. I don't need much to survive but I would like the security of having money for the future for helping others and my own emergencies.
All good info and much appreciated...
We use the big A quite often and signed up for prime to save on S&H plus an occasional movie (cancelled cable-netflix is much better). I price compare extensively before buying most things (including local tax and the $7 gas cost to go to town shopping) and have found Amazon to often be the cheapest route - but not always.
Recently I have noticed Prime prices getting higher and that some of the 'other' sellers listed will have a better price (but offset with S&H)- if you go to THEIR WEBSITE they sometimes offer the same or better price plus free shipping, which then undercuts the inflated Prime price.
Also recently, even with tax and gas, I have found Lowes to be cheaper on a couple Bosch tools when bought with their 5% off Lowes credit card, so it looks like greed is setting in or the cost of drone R&D is going up up and away!
I would pay off all my debt, invest a chunk, and give myself a decent allowance to live on.
Tithe. Hire a reputable tax adviser. Pay the taxes. Then we would do what we already do, but on a larger scale. Give to organizations we believe in. Help family. Put savings towards retirement and a visit to friends in Italy.
I would save most of it for now, as I am single and currently renting an apartment (not stationary enough to buy yet). I would use a small portion of it though to replace some things I have been avoiding.
Assuming we had all 1 million to work with, and taxes were already handled, first $100,000 would go to our local church. Next we would pay off the rest of our house and finish the kids college funds. Replace both of our 10+ year old cars with late model pre-owned cars. Take a vacation in Italy and Spain. With the remaining $450K, $350 would be added to retirement accounts, and the remaining would be used for Investing in mutual funds.
I would help my children pay their student loans after tithing the original million. I would travel to visit relatives, invest the remainder and use only the dividends for charity or expenses.
Eye surgery isn't forever. Not sure if you can have adjustments made. Several people who've had surgery are wearing glasses/contacts again.
Never share with an attorney.
If I won a million dollars, I would:
$250,000 for state and federal taxes
$100,000 to the church for tithe
$150,000 for my mortgage payoff
$50,000 for my sons student loan payoff
$10,000 to pay off all short term debt
$50,000 to purchase the lot next door and start my small farm
$50,000 to daughters college fund
$50,000 to other son for whatever he needs
$100,000 renovations on the house
$30,000 for my husbands new truck
$160,000 to have as combination savings, rainy day fund, and spending.
If I won a million dollars, I would:
$250,000 for state and federal taxes
$100,000 to the church for tithe
$150,000 for my mortgage payoff
$50,000 for my sons student loan payoff
$10,000 to pay off all short term debt
$50,000 to purchase the lot next door and start my small farm
$50,000 to daughters college fund
$50,000 to other son for whatever he needs
$100,000 renovations on the house
$30,000 for my husbands new truck
$160,000 to have as combination savings, rainy day fund, and spending.
I love this daydream LOL. A million dollars - let's play it's after taxes since we're daydreaming . . . hmmmm . . . pay off my mortgage, three trusts for my kids andthe rest in a nonprofit corporation as seed money to go out and fund good works
Hook up the camper and hit the road! Travel around the United States and learn about the history of the places we visit. Stop and see some of the natural wonders.
I would pay off the house and any other debt, travel a bit, save some, and use the rest to help start a business.
Pay off debt, pay cash for a modest house and two newer used cars, set some aside in savings, give the rest away!!!
I would buy my disabled mom a little farmhouse somewhere she can have horses. I'd pay off my sisters student loans and pay for the rest of her college. I'd talk my brother in to having the chest surgery he needs and pay for it. I'd start my own business and employ my jobless dad. I would hire contractors that wont steal to finish my grandmothers home. I guess i would like a bigger apartment. And i would pay of my credit card. I would spend some time trying to figure out what i want to do with the rest of my life. I'd look into different thinks i like to do. The remainder would go into a savings account.
I am older, already collecting full soc sec benefits so I would be in a spend mode.
First thing I would do is set up education/home buying trusts of $100k for each of my 5 grands. $500k spent.
Next I would look into a MAJOR around the world kind of trip(s). I have not had any vacations since 2008 and the ones from 2005-2008 were done on the cheap: driving, bringing/prepping my own food.......
I'm 25 and fiancé is 23. I'm in the 750s/740s fico confirmed with mortgage inquiry and fiancé is 730s. We both drive affordable toyota sedans with 400 and 320 payments respectively. I have no student loans, fiancé pays almost 180/mo but is still in school. Our new home is currently being built and scheduled to finish August or September. No parent help no gifts, we're on our own. Did I mention we have a 15mo old in child care? We have a strict 800/mo savings plan. We pay bills, buy food, little to no entertainment. We act like that 800 isn't ours. The key to home purchasing is credit score, and save save save which includes sacrifices of luxury items.