If someone gave you a million dollars or say maybe you won it on powerball, would you use it for good and to help someone else or would you blow it?
2006-08-23 03:28:05 · 25 answers · asked by couchP56 6 in Business & Finance ➔ Personal Finance
I would just put it all in a high yeild savings account and treat the interest like my salary.
2006-08-23 03:31:05 · answer #1 · answered by Michael 1 · 0⤊ 0⤋
I would:
1) Invest 50% of it since I am currently debt free
2) Purchase a small property for rental purposes
3) Buy a short holiday to Paris
hmm... 1 million doesn't seem like much these days...
2006-08-23 03:37:56 · answer #2 · answered by Amy 2 · 0⤊ 0⤋
I would divide it up and give a portion to: my parents, my in-laws, my two sister-in-laws, and my three best friends - say about $25K to each. I would pay off student loan debt - $56K. I would set aside $25K for an "emergency" savings account. Max out my retirement accounts for the year and thereafter. Pay off a significant portion of my mortgage. Max out my kid's 529 college fund. Buy some land in Greece to build my future retirement house. Start a business.
2006-08-23 10:24:23 · answer #3 · answered by SAL 3 · 0⤊ 0⤋
After taxes it comes to around $640,000. Still a lot of money by anyone's standards. I would invest it. Properly invested, in seven years it would double. This now would give you the opportunity to reinvest the original amount and spend wisely the accrued interest. Design a house, donate to my church's food pantry, buy a nice truck, and purchase the tools to finish off my tool wish list.
2006-08-23 03:38:15 · answer #4 · answered by Anonymous · 0⤊ 0⤋
1. Pay off the Il & FL properties
2. Pay off the kids' student loans
3. Gift the kids with annuities
4. Plant trees in Haiti
5. Invest the rest, and use the interest to travel
2006-08-23 03:37:40 · answer #5 · answered by mightymite1957 7 · 0⤊ 0⤋
I would give a sizeable chunk to the Women and Children's Refuge society. Then, I would pay off my student loans, and buy a house. I would also buy a house for each of my kids.
The rest I would invest in a retirement fund.
2006-08-26 09:31:54 · answer #6 · answered by jmiller 5 · 0⤊ 0⤋
Pay off all debt
buy a nice house and car
go on a big trip to Europe
give my family some of it
invest the rest
2006-08-23 03:53:29 · answer #7 · answered by pavick39 2 · 0⤊ 0⤋
Pay off my debt
Pay off my parents debt
Pay off fiances debt
Buy everyone new cars
Donate half of what's left over to St Jude's Childrens Research Hospital
Invest the rest
I've promised myself that if i ever 'come into money' i will donate a good chunk to SJCRH
2006-08-23 03:34:45 · answer #8 · answered by Weasel 4 · 0⤊ 0⤋
I would like to build a Zen monastery up where I live. If I want to practice my religion with a master, I have to travel two hours for any direction before I find a place that offers Zen Buddhism.
2006-08-23 03:37:17 · answer #9 · answered by Anonymous · 0⤊ 0⤋
first thing: i would pay off my house, invest it in property managements (which includes buying my aunt her own condo so she does not ahve to pay rent anymore, paying off my sister house)
second: take a trip back to my country(spain) and spend a good month or two over there. meanwhile, three: have my dogs live in dog spas while i am away so they get to enjoy themselves too.
four: pay back of the debts i have borrowed from my framily and friends back with interest.
five: put money away for when i retired.
2006-08-23 03:35:46 · answer #10 · answered by lasalle_1986 4 · 0⤊ 0⤋
1. 50% I would invest in a diversified portfolio and business ventures
2. 20% I would use to pay my bills
3. 20% I would use for fun, personal needs, home improvement...
4. 10% I would donate to charities and help family
2006-08-23 03:38:17 · answer #11 · answered by Anonymous · 0⤊ 0⤋