2007-05-02 08:29:00 · 12 answers · asked by Preeti S 1 in Business & Finance ➔ Personal Finance
I would put it all in a high-yield savings account and live off the interest, allowing those I love to inherit the entire principal when I die.
2007-05-02 08:31:39 · answer #1 · answered by Scotty Doesnt Know 7 · 4⤊ 0⤋
I love this question. I'm going to assume it is a few million:
1. 20% goes to family because you love them.
2. 5% goes to friends because you'd want them to give you some if they won - and you want to make them happy.
3. 70% is invested, which means: clear your debts, buy a house to live in, invest in three uncorrelated managed funds, possibly an investment property (if you won a considerable amount), and the rest in cash. Investing may mean buying or starting a business of your own, although I'd always keep a considerable amount in a liquid asset (cash, stock) just in case things didn't work out in the business. The managed funds and the interest on cash would easily give you enough to live on without reducing the principle.
4. 5% spend on what you've always wanted to do - which may be taking a great holiday, buying your dream car, buy a boat, enjoy yourself and don't become a a snob.
2007-05-02 09:00:46 · answer #2 · answered by Mr G 2 · 0⤊ 0⤋
I would pay off the debt my parents have so that they would be less stressed and wouldn't have to work as hard as they are right now. They stay awake until three or four in the morning working hard for me and my siblings. I wish my mom would win the lottery. She buys tickets, too, but never wins.
2007-05-02 08:37:23 · answer #3 · answered by Marianne 4 · 0⤊ 0⤋
Give 10% to my church, put 10% in savings, 10% to fund childrens education, 10% to spend, pay off debt, give some to my family (parents and sister) and give the rest away through donations (cancer research or something of that nature) and help local families who are having hard times. .
The reason for giving so much away is that there are always others who are in need. I am not materialistic and do not need much to be happy.
2007-05-02 09:01:05 · answer #4 · answered by Matt 4 · 0⤊ 0⤋
I'd get out of debt.
Buy a house
put 50% of the rest into various investments
y, because that's what I planned to do if I took the time and made the $.
2007-05-02 08:40:53 · answer #5 · answered by Still*Perfect 4 · 0⤊ 0⤋
Give some money to my family member, their hurting for money
then I would buy a home for me and my son and last save the rest so if anything happened I have it..
2007-05-02 08:44:27 · answer #6 · answered by shorty21 5 · 0⤊ 0⤋
i would design a house for me and my hubby and my autistic son and have a sensory room and a play room and a gorgeous deep red bedroom ( im a very passionate person ) and a gorgeous big bathroom with a jaccuzzi and of course a steam room and sauna and a big kitchen off course lol !! with 2 lounges 1 for best and 1 just for everything id call it my den lol i wonder what you would do :)
2007-05-02 08:33:22 · answer #7 · answered by Anonymous · 0⤊ 0⤋
pay off my college loans and future tuition
pay for my bro to go to college and not have to worry bout out of state tuition
buy my parents a new house that they've always wanted
pay off all my families bills
and put the rest in savings accounts for my niece and nephew!!
2007-05-02 08:40:04 · answer #8 · answered by Samie 1 · 0⤊ 0⤋
first i would bye me a car and then i would give 3000 of it to charity and then give 300 to each of my family members and i would put the rest in my colidgfund
2007-05-02 08:38:10 · answer #9 · answered by b*a*b*b*y***g*i*r**** 1 · 0⤊ 1⤋
Wine, Women and Whiskey. There is nothing to defend. OK, forget wine and whiskey.
2007-05-02 08:47:03 · answer #10 · answered by cidyah 7 · 0⤊ 0⤋