If you suddenly became a millionaire....

[melissalt]

Re: If you suddenly became a millionaire....

Why not single fathers too?

Two main reasons: First because there are far more single mothers. Second, single mothers are the population I know. With a hint of sarcasm I would have to add that since this would include shared babysitting, and most people don't want men to babysit their children, it just wouldn't work.

[tabbycat31]

Re: If you suddenly became a millionaire....

I would buy a house free and clear.

The rest of it would be invested or given to nonprofits that I believe in. And I'd put some $$ into 529 plans for my cousins.

[Ima saver]

Re: If you suddenly became a millionaire....

I would love to set up a free spay clinic and (of course) hire a vet full time . There are so many unwanted and homeless animals.

[Roupey03]

Re: If you suddenly became a millionaire....

Ok so if I suddenly had a million dollars dropped into my lap.

350k to taxes = roughly 650k

Get Married 25k for the ring, wedding, and honeymoon = 625k

Pay off My wife and I school debt = 575k

Buy two new Cars for me and the wifey = 530k

Buy a House to live in free and clear = 330k

Furnish the house with lots of goodies =305k

Invest the rest. . . .

[tabbycat31]

Re: If you suddenly became a millionaire....

Ima Saver, ITA about the homeless and unwanted animals. My lifelong dream is to run a rescue for cats. If I won the lottery tomorrow, that's where my $$$ would go.

[Ima saver]

Re: If you suddenly became a millionaire....

I would love to run a rescue for dogs. Let's hope we both get our millions!!

[JBinKC]

Re: If you suddenly became a millionaire....

I would quit my job liquidate 2/3rds of my personal assets (excluding retirement accounts), sell house one, sell my current land holding in 2008-2011 when the capital gain tax rates are lower and move to house 2 which is a lake house on Lake of the Ozarks, I would purchase a cruising sailboat and fully retire always wanting to cruise the entire Lake of the Ozarks by sail. As a side since I am still fairly young probably spend my free time acquiring raw land at delinquent property tax sales. I am sure I could make that source of money last til I am 59 1/2 when the next mother lode comes in again.

[vsjhoc]

Re: If you suddenly became a millionaire....

I would purchase a cruising sailboat and fully retire always wanting to cruise the entire Lake of the Ozarks by sail.

Sounds great ... I'm not sure how much boat you would buy, or how much distance sailing you have done, but cruising can be pretty expensive plus a lot of work. Unless you're talking about buying big enough that you'd hire crew ... but then a million bucks won't go too far ...

[Broken Arrow]

Re: If you suddenly became a millionaire....

Hmm. I've said it before, and I'll say it again. Besides paying debts off and kicking investing to high gears, I would absolutely not change my lifestyle in any way.

Honestly, $1 million really isn't that much, especially if you decide to let loose on even a few indulgences.

[Ima saver]

Re: If you suddenly became a millionaire....

I agree, I would not change a thing about the way I live except let dh stay home from work once in a while!

[vsjhoc]

Re: If you suddenly became a millionaire....

Honestly, $1 million really isn't that much, especially if you decide to let loose on even a few indulgences.

Agree ... but just for fun, what would be your few indulgences?

[disneysteve]

Re: If you suddenly became a millionaire....

Agree ... but just for fun, what would be your few indulgences?

That's an entirely different question. Maybe we should start a thread about what you would do with a million dollars that you had to spend. No saving or investing allowed.

I would do a world cruise. Holland America offers a 105-day grand world voyage that I've got my eye on for retirement. I certainly wouldn't mind doing it now, though.

Next on the travel list would be a Disney tour. Perhaps a week or so each in Florida, California, Tokyo, Paris and Hong Kong. Actually, probably 2-3 weeks in Florida. A week isn't nearly enough there.

[creditcardfree]

Re: If you suddenly became a millionaire....

I would pay off my house, getting newer used cars for DH and myself, pump up my emergency fund, invest a lot of 2 DD's college and then invest the rest.

Really, it would just be a jump start to what we are already trying to accomplish.

I would need to go to Disney World again, too. I love that place. We went last October as a family...so much fun.

[JBinKC]

Re: If you suddenly became a millionaire....

Sounds great ... I'm not sure how much boat you would buy, or how much distance sailing you have done, but cruising can be pretty expensive plus a lot of work. Unless you're talking about buying big enough that you'd hire crew ... but then a million bucks won't go too far ...

Vsj it's not sailing the ocean. I figure a 25 ft boat which I would probably purchase used would be very sufficient and the trip would take 2 months at most. Cruising is cheap try racing boats where you have to replace sails every 40 races and boats every few years to stay competitive

[naturalwoman]

Re: If you suddenly became a millionaire....

i would pay off my debt of course, 7,000. i would have a little fun, purchase a paid for home (not too big) and invest the rest and watch it grow. if i do it right, i will quit my d*&^ job and write books.