2006-12-13 05:11:29 · 17 answers · asked by Kelbelle 2 in Politics & Government ➔ Law & Ethics
I would first take care of my parent's medical needs and pay off their debts and buy them a new home and car. Then I would pay off my siblings debt, then my own. A local church in my town needs a new roof and heat/air. I would take care of that too. If there was anything left, I would invest the rest.
2006-12-13 05:24:40 · answer #1 · answered by Anonymous · 0⤊ 0⤋
If I won a million dollars in my country(no taxes). I would give some to my church and I would pay off my parents loans. Also I would build villas . And Finally, I'll go to a great college.
2006-12-13 06:34:22 · answer #2 · answered by Black Like A Tar 4 · 0⤊ 0⤋
$1 million won't get you as far as you may think in today's world. Most people forget about taxes when winning money. That's what makes me laugh at Deal or no Deal. When deciding on a deal for $100,000, no one really thinks that it's only for abor $60,000 after taxes.
On $1 million, you would only be left with about $500,000 after Uncle Sam gets his piece. Then to live off of that for the rest of your life, you can conservatively take a 6% annual withdrawl and allow the money to grow for inflation without running out of money. Thus, you would have to live off of $30,000 per year.
Even if you took taxes out of the equation, you'd only get about $60,000 per year.
Not many people will have the life they want for $30,000 or $60,000 per year. To really live the life, one must win about $10 million in today's world.
Good Luck!!
2006-12-13 05:22:45 · answer #3 · answered by Back in the game... 5 · 0⤊ 0⤋
switch to just p/t work or volunteer p/t while i still had my son in daycare p/t
pay off our debt and set aside enough for our son for college and a trust money-making account for him and any future children.
pay back my parents for helping me through school and i'm sure i'd help buy them a new house or something.
then, i'd buy us a new car and probably give my sister and brother each a couple grand to pay off any bills that may be hanging out there.
then, i would call up a financial consultant and set up a portfolio to make whatever is left grow, grow, grow!!!
i would also set a policy of "no hand outs".
take care:)
2006-12-13 05:22:07 · answer #4 · answered by joey322 6 · 0⤊ 0⤋
Well, after taxes that would only be $500K. Pay off bills first, and invest the rest so it will grow so we can afford to buy a house someday and have some leftovers to spend. $500K will get you a small shack in this city.
2006-12-13 05:21:39 · answer #5 · answered by chefgrille 7 · 0⤊ 0⤋
I would buy a house, save money for go to many INXS concert and keep the rest in an account for make profit.
2006-12-13 10:30:55 · answer #6 · answered by jdforever 1 · 0⤊ 0⤋
Pay off bills.
Down payment on another house (for renting.)
Keep working b/c 1 mil is not much nowadays (and I love what I do.)
Invest the rest.
2006-12-13 05:44:44 · answer #7 · answered by Mark T 2 · 0⤊ 0⤋
invest most of it, buy a new house, travel a bit, donate some to different charities but still work.
2006-12-13 05:17:14 · answer #8 · answered by muh 3 · 0⤊ 0⤋
quit my job, pay off my house, invest wisely, find other things to do for the rest of my life.
2006-12-13 05:13:46 · answer #9 · answered by dapixelator 6 · 0⤊ 0⤋
I would pay off my parent's house, give some to charity, and go shopping.
2006-12-13 05:14:02 · answer #10 · answered by Anonymous · 0⤊ 0⤋