What Would You Do With $10 Million?
If you won the lottery and got $10 million, what would you do with it? Well, I guess technically, the first question would be, do you take the lump sum or do you take the annualized payments for 20 years?
At any rate, I ran across a story today that’s been out for a little while, but it got me thinking about this topic. A man in Massachusetts bought lottery tickets, then died the same day from a heart attack. It turns out, one of the tickets he bought was a $10 million winner. While his family is obviously devastated that he’s gone, it’s probably a great relief to them that they are now financially taken care of for the rest of their lives. All that’s left for the widow to decide is whether she wants the lump sum or the 20 year payout.
I know this will probably surprise you, but if I won $10 million, I’d give the majority of it away. I’d keep some, set myself up quite a bit, but for just me, $10 million is a lot money. I’d want to spread that around. So, here’s how I’d spend my $10 million:
1. Pay off student loan debt.
I have quite a bit in student loans. Currently, the balance is all deferred because I’m still in school. But, it’s not something I’m looking forward to having when I get out. I’d simply pay it off. I think I’m at roughly $46,000 or so. For easy numbers, let’s just round that up to $50k.
Total: $50,000
2. Money for school.
I’d set aside a nice sum to pay for the rest of school. I’m almost finished with the Bachelor’s degree, so I’d set aside enough for the Master’s and Ph.D. I’m not entirely sure how much that’s going to cost, but I’ll give it an average guess.
Total: $50,000
3. Pad my emergency fund, savings, travel fund, and checking accounts.
As of right now, I have six months worth of expenses saved up, plus a little extra for things like car repairs. I’d probably put two years worth of expenses in the emergency fund, take my savings up to about $50,000, give the travel fund about $25,000, and level off the checking account with $10,000.
Total: $121,000
4. BMW M3
Ok, I couldn’t win $10 million and NOT get the car I’ve been lusting after for years!
Total: $70,000
5. Friends and Family
I’d totally have to give to some to my friends and my family. First of all, I’d pay off my parents house ($165,000) and give them $10,000 a piece. I’d give my brother and sister $10,000 a piece. I’d also set up my niece and nephew with accounts with $10,000 a piece.
For my best friend, I’d pay off her house ($137,000) and give her and her fiancé, also my friend, $10,000 a piece. I’ve got about five other friends that I’d actually give any money to, but it would only be about $5,000 a piece.
Total: $407,000
6. Investments
I’d divide these up into CDs, mutual funds, and some tax sheltering investments.
Total: $302,000
7. Donate to the Nicholl Fellowship
This is one of the most prestigious screenwriting competitions out there. As a screenwriter, I naturally want to give back to the craft I love.
Total: $1 million
Ok, so that’s a grand total of $2 million that I’ve spent thus far. Want to know what I’d do with the remaining $8 million?
Don’t scoff….
I’d get with an attorney and set up a fund to help those who’ve been laid off.
I don’t need all of that money. As you can see, I’ve got my own materialistic wants, but I don’t need $10 million to achieve them. I would continue working, though I may consider working in a part-time capacity to focus on school and my personal writing a little more. Even still, I’d have enough money to do that. Besides, there are those out there who need that money much more than I do and I would want to help. What’s the point of having that much money if you don’t use it for good?
The way I see it, the money can’t follow me to my grave. I want enough to enjoy life and have the few material things that I enjoy, but I refuse to let it be the controlling force in my life.
Alright, now it’s your turn! What would you do with $10 million dollars?
Related posts:
- When To Use Your Emergency Fund
- The Cost of Being a Good Friend
- Kristy’s Weekly Roundup
- Why Do We Settle For Less Than We Want?
- What’s Happening with Credit Unions…
I have to be honest, I’d be nowhere near THAT generous if I suddenly had 10 million dollars :)
I reckon I might give a couple million to my family, and a couple million to charity, but there is NO way I would part with more than 50% of it!
I’d probably just put it all in a high interest account and travel the world for a year or two. 3% p.a. interest on 5 million bucks = $150,000!
Wow, it makes you realize what a ridiculous amount of money it is when you break it down like that.
You are generous! I’d like to be your friend!
Love these questions!
After taxes that’s like 3 million, no?
1. Pay off my mom’s house.
2. Pay for college for both sisters.
3. Buy a condo in the city.
4. Smart Car!
5. Vacation somewhere tropical.
6. Invest and retire.
7. Make large donations with the money I earn in interest each year, investing.
I plan to do 3-6 anyway, but over time. :D
It must be a coincidence! I’m writing a blog post about “what you would do with a billion dollars”, and here I see your post. :) I’m going to link it up though, because you’ve essentially answered my question nicely. Plus you’re so generous, and I think that’s such a great example for people!
Now to write my list… ;)
@ Jonathan – I thought about doing that, too. Taking some time off and traveling the world, but part of the fun is sharing the experience with others, so I wouldn’t enjoy it as much by myself. I mean, I could take someone with me, of course, but I’m not THAT generous! LOL. But, traveling the world is a worthy goal and definitely on my to-do list.
@ Nicole – LOL, thanks! I like to give to the people that matter to me. One of the things I hate about Christmas is that it often feels obligatory to give gifts and I’m just not into that. Part of the joy for me is the suprise, so I sort of played a dirty trick on everyone and made them believe we wouldn’t be exchanging gifts, then I show up two days before Christmas with a big bushel of gifts. Hehehe. At any rate, I think the surprise of dropping some cash in their laps would make them super happy and then by extension would make me super happy. Just a quirk of mine.
@ Shanti – That’s an excellent list! Thank you for sharing!
@ Nathalie – How funny! I think these kinds of posts are popular because it let’s people imagine the possibilities. Thank you for linking! I’m glad to help get your ball rolling! And thank you for your kind words, I certainly try to be a good example, though sometimes I fail miserably, lol.
What would I do with $10 Million, simple. I will invest it in a 10% interest account and then use the residual income produced from that investment ($1 million a year) to take care of anything else. The most important thing is that I will finally accomplish my goal of freedom, which will allow me to move on to bigger and better things in life then working at a JOB.
I don’t know what it would come out to, but I’d basically make sure my fiance and I are set for the rest of our lives, then take care of my mother, and then start spreading out to the rest of my family. I wouldn’t give anyone money directly though, I’d just do nice things or pay stuff off for them. In thinking about it, I don’t think I’d make it through my list though!
I’d first take care of fiance and I – debt, wedding, car, house, retirement. Then I’d take care of my mother for the same, except the wedding. I have a feeling I wouldn’t even make it this far after taxes! If I did, or the amount was bigger, I’d then make sure my grandparents are set for retirement. I’d top off my fiance’s parent’s retirement funds. Then I’d pay off my sister’s and aunts student loans. I’d buy my brother his ‘68 Barracuda back. I’d fix up our up north property. I’d put aside some money for my nephew’s college, but wouldn’t fund the whole amount for him.
Then I might be done and set aside the rest in a scholarship fund. It would fully fund the EFC’s of people who are putting themselves through college. :)
I’ve thought about this one before, though, since I don’t play the lotto, my chances of winning are fairly slim. Mostly I would work to create a safety net, you hear too often about how lotto winners end up destitute and miserable. I would want to first set it up so I had a comfortable lifestyle that would last, then do the same for my family. After that it would be special gifts to friends, traveling and back to school.
Paying off school and helping out family and friends is a great idea! But what about your house? Where are you going to live in a few years? They’re gonna kick you out of the dorms eventually :-)
And what about property tax, utilities, homeowners and auto insurance, gas and maintenance for that beautiful car and health insurance to make certain you stick around long enough to get that PhD???
What about food? How will you eat once you graduate?
I will set up a trust fund to take care of your life, and donate 10-20% annually. That gives you the security of having a life worth living, and enables you to make a difference in the lives of those around you.
Yes, I will also help my family/friends, but as your numbers indicate, that’s only about 1 mill of the total. And it sets a dangerous precedent where they may expect you to bail them out whenever they need it.
Set up a good quality trust. You don’t have to live like Paris Hilton, but it’s okay to not worry about where you’re going to live, if the lights will be turned off, and if there is enough food in the pantry.
@ Retiring – I don’t live in the dorms, lol. I have an apartment and I make my own way. As I mentioned, even with this money, I wouldn’t quit my job and that sustains my everyday expenses. What I’ve laid out will also give me quite a bit of money so I know I’ll have plenty of money for the things I want in life. Eventually, I’ll buy a house, but not right now. I’m also getting into psychology and the Hollywood game, so money won’t be an issue for me…at least, not in the sense where I make it everything I want out of life.
All of your suggestions are great, don’t get me wrong. And actually faced with having $10 million, I may keep a little extra for myself for whatever reason. But, the fact is, I don’t NEED all that money and there are others that do. I don’t believe I’d be setting a precedent with friends and family because they’d all know that it was a one-time gift and the rest is going elsewhere. They still have to make their own way, this is just my gift to help them along the way.
What makes this question so interesting is the fact that we all approach it from different angles. I would never win this much money because I never play the big lotteries. I only play the little scratch-offs and even that I don’t do often. The reason I don’t is because I just don’t want this much money. I want enough to live a good, comfortable life and I’m happy. I’d rather give the bulk of it to people who have real need of it.
I’d most likely invest part of it in my own company to kickstart things and focus on what I really want to do. Say about 2-3Mil to be sure. Add some to a few accounts.
I paid off my last “debt” a few months ago, but I’d definitely help my family members out and give them a little something.
The rest could be donated to a few worthy causes
[...] What Kristy would do with $10 million dollars: To get some inspiration and start with $10 million, find out what Kristy’s plan is. [...]
First off, you do not actually win 10 million dollars.
The cash option is about 65% of the actual “win”, so you would be getting 6.5 million if you took it at once, but wait! Don’t forget the long arm of the IRS, which takes 25% instantly for Federal Taxes, and then comes your state, which in my case is GA, and they take another 6% (differs by state). So now you have lost 31% of the 6.5 million. So the amount of cash you actually have left from a 10 million dollar win, assuming you take it in one lump sum (probably the smarter choice), is $4,485,000.
Now lets assume that you take the advice of a previous poster, and do not invest it, you just put it in C.D.s to generate interest. I just checked, and most major banks are offering just under 3%, so lets go with the most optimistic number and assume you can get 3% interest. You are now earning $134,550 a year, so lets assume you take that as personal income, so it gets taxed as such, which would be about $28,776 in federal taxes (plus local state, if your state has an income tax). Leaving, optimistically, about $105,774 of income to use each year. You also have to remember that interest generated from CDs does not include inflation, so as you continue with life, what the 105k will buy, will slowly decrease over time, so probably about the time you retire (assuming 20-30 years away) that could very well be the median income for average US worker. So Kristy if your goal is to live a “normal” and “comfortable” life, you wouldn’t really be able to give a whole lot away.
Now, as for me, I would invest in some solid revenue generating assets, in multiple markets/sectors. I would try to increase my net worth initially with some short term investments, maybe of a few years length each, running concurrently, and use my capital gains tax exemptions to avoid getting hit for about 25% of my profit each time. Once I was able to increase my net worth back to around the 10 million, I would try and diversify my investments with some splits between a few revenue generating assets, maybe an IRA, a nice stock portfolio, and a significant amount devoted to real estate.
Once I built a stable company consisting of the above assets, I would then try to retire and use my profits each year to expand the company, plan for any inheritance taxes for any children (50% of net worth after 1 million dollars in 2011), and setup a nice trust devoted solely to charitable causes.
My charitable trust would fund:
higher education – funding student scholarships and research grants in the sciences and arts (including study abroad grants, because I think American students need more worldly exposure, to see how good we have it)
medicine – to provide medical supplies to organizations in third world areas plus medical research in areas that i deemed important (HIV, cancer, etc)
foreign development aid – we need to help developing nations build infrastructure so they can join us as economic partners. Did you know that Africa has the most natural resources of any continent, but is still the poorest?
So after this long winded response, I would wish anyone luck who won that much money, because you really need it in todays world! I would also tell them that if they truly wanted to help the world with their winnings, they need to develop a plan to atleast maintain the base value in what they have earned and use the profits to help! After all, being able to give away 20+ million dollars in earnings over the course of your lifetime is much better than just giving away 10 million this year don’t you think? What if you were able to increase your net worth to 100 million over say 25 years? Then you could truly do some good, giving away possibly 5-10 million or more a year!
What do you think?
Side note: I find it ironic that most people think when you “win” money, or earn huge sums of it for that matter, that taxes are not a big deal. They are a very big deal, and the exhorbidant taxes that currently get assessed now on large transactions are ridiculous. Imagine how much more money would be available to benefit the employees of a major company, if only the government didn’t take a percentage of the income that was larger than the actual profit margin! More jobs could be created via expansion, companies wouldn’t move abroad to “greener pastures” where taxes are lower (ex: Ireland- business taxes here are only 10%), salaries could be higher, better company healthcare plans could be afforded, etc. You should always remember, the more a company gets taxed the more money they must generate to make up for it. Companies do not print money, they only increase profits by doing two things, either charging customers more, or cutting costs (salaries for example), and don’t say “well they can just make less money” because if they are a stock traded company, then when their profit margin slips, their stock value will begin to fall, hurting investment from investors, 401k plans for employees, IRAs, etc.
OK. if I won 10 million dollars I would build our dream house, buy a nice car and a truck to hall our boat, of course pay ALL our bills off, landscape our 10 acres, donate to our church,help family and just live wonderful life, it would be a DREAM COME TRUE..
$10 mil? It wouldn’t be that much after taxes…but let’s say it comes out to be the $4.4 mil mentioned earlier. (I have prayed long and hard on this for many years, but I don’t play the Lottery, LOL)
First and foremost I would pay my TITHES!!!! = $448,500
I just want to be debt free. So I would pay off all the household debts (including our home in Texas where we were stationed) = $300k
Then the same for my parents & in-laws = $500k
Put away two sets of IRAs for my kids and siblings (all whom are under age 10):
Education IRA @ $10k/each = $60k
Roth IRA @ $10k/each = $60k
(The trick is to start it for them and then teach them to keep putting their own money into it. I had jobs through high school and college, so will they.)
Buy a decent home where we are stationed now in Virginia = $800k
(I live in the Washington DC area, so an $800k house is just that — DECENT)
Roth IRA for me and my hubby = $500k (max out the IRAs and put the rest into emergency savings)
Investments (I am not good at the stock market game) = $200k
Okay, so that should leave about $1.6 mil which unfortunately would have to be set aside for future property taxes (Virgina & DC have KILLER property taxes!!!!)
But the great part would be that whatever I received from my tax returns from here on out would go to charity (after tithes, of course). So I won’t miss out on giving financially to the charity in which I currently volunteer.
My husband and I would never be so bold as to quit our jobs or anything, but once we are debt free, our income would go so much farther and we would be able to do more for our family. We already function on a strict budget, so why change that? I don’t think anyone who hits it big should stop working; I just don’t think that’s wise.
So that’s my take. Even after all that money it all boils down to have a normal life. Nothing lavish…I’m just not that kind of person. If I HAD millions of dollars, you would never know it. A house is a house, a car is a car…as long as it has space to fit our family needs I am very happy! Besides, it won’t matter when we pass on anyways…
What’s important to me is not wanting my kids to struggle when they are my age; hence why being debt free is a biggy on my list! It’s not just about putting money away for them, but to teach them not to make the mistakes we made and to make the most of what they are blessed to have!
Well, that’s my take… Be blessed!
Oops…my math was wrong…my TITHES should be $1 mil…so my remaining balance would be about $1 mil…which would still be set aside for future property taxes…
And I would still go to work every day!
first i would take care of my back tithes’then i would fix up my mom house her yard give her althings a good person like her deserve .next pay off my sister house get her a nice truck to get around in to take mom places as well as my other sister n law. then my other sister get her a house my sister in laws get them a house i would get my brother in law fishing stuff what ever he need my nephews a start apartent paid up for six months other people things my boss a house truck and a vacation my coworkrs we all go on a cruise or florida keys together we r teachers.next i do what i do best give to people all over the us i knoe the places to go.
I dream about the possibilities all the time.
85,000 School Debt
20,000 to parents in law (to repay for the wedding)
80,000 Parent’s Mortgage
20,000 to sister (to pay for her wedding)
300,000 total split between siblings ($100,000 each)
100,000 to nephew (for his college fund)
400,000 to mom (no pension)
200,000 to dad
40,000 emergency fund
20,000 family emergency fund
–1.26 million
I’d like to start a scholarship fund for both my undergrad and grad institutions.
1. I would pay off all of my debt. I will guess to say that its somewhere near 25,000.00. Thats car loan, credit cards, student loans, etc…
2. I would build my dream home. I would not start from scratch, I would locate an older home, on land I want, strip it to the studs and add to it. That way I would use less lumber and materials, I think its a bit more “green” than starting from scratch. estimate approx. 350,000.00 for the house
3. I would buy a couple of cars, an SUV and a car. est. approx. 60,000.00
4. I would pay for college approx. 20,000.00 give or take a few thousand.
5. I would bank a million dollars for future monthly bills and some travel.
6. I would set up trust funds for each of my children totally 1 million a piece. 4,000,000.00
7. I would give each of my parents 1,000,000.00 = 2,000,000.00
8. I would give each of my sisters 1,000,000.00 = 2,000,000.00
grand total of 9,460,000.00
thats cutting it close.. lol, but thats only if it was 10,000,000.00 after taxes and such.
With 10 million dollars-
1)Pay off all my debt 80,000
2)buy my sister a house & pay all her bills
3)pay off my brothers house & all his debts
4)pay off my parents debts
5)help the people that have suffered from job loss and the housing
market.
6)start a charity to help create jobs for americans
7)put money in my daughters college fund
8)start a college fund for inner city kids
9)go shopping
10)go on vacation for a year w/ my daughter
11)give all my friends and family about 25,000 each
alright, having read through several peoples responses i would like to point out something to everyone making gifts to friends/family. you are taxed on anything over 12,000 a year to any family member at 50%. that means that if you give your sister 20,000, you can give her 12,000 tax free, and the remaining 8,000 would actually be 4,000. this is true for all family members, and such gifts include paying off other people’s houses or debts.
yes you can make one time large gifts to spouses (not married not sure what it is) but all large exchanges of money are taxed by the US government (i am assuming US residency).
May i suggest that you make the first wise investment with your money and hire a financial adviser. The can help with things like making investments, setting up trusts, giving gifts, and other such ideas.
as for what i would do with 10 million.
after hiring an adviser, i would pay off all outstanding debt. I would go on one clothes shopping trip (i hate to shop so my current wardrobe includes clothing that need to be replaced) I would invest in further eduction for myself. i would then invest the rest for such times as when i would like to purchase a house, or take a trip. I would donate some of the income form my investments t a variety of charities such as heifer. I would give a gift that a friend of mine would love, donate money to start a school in her name in another county. I would set up a 12,000 gift to my brother,one to his wife, and ones to my two nieces.
then i would quietly go back to my job the following week and not say a word about it.
I would buy as many homes as i could with about 8.5 million and rent them out. That would be my source of income for the rest of my life. With the monthly rent, i would do things for myself and my fam. I would also like to take about 1000 every other week and find someone who needs it. I know a lot of people in my neighborhood and church that would love an anonymous 500 dollar albertsons gift card or whatever else it could be. With monthly rent i would continue to save up for traveling and other stuff, but always be able to give a little bit and not be concerned that i am going to drain my bank by being too charitable or greedy. The remaining 1.5 million will be for a home, cars, insurance, etc.
I would buy every house in this town starting with the bad and condemned houses tear down the ones that need it and rebuild the others, pimp them out, resell those and continue to do it to every house that i possibly could until i had the whole town pimped out and it wouldn’t be an eyesore anymore and I wouldn’t be embarrassed to live here anymore. And of course I would be generous to those freinds and family that were in need.
My Mother and my sister cannot afford to keep me here at home with them..whom I caregive for.
I want to be able to be with them for the rest of thier lives, to take care of them.
I would like to take my Mother to travel a little..she says it’s too much trouble to get her out.
I want a better car.
I would like to build my Mom a NICE house.
There is a friend who needs a $500,000.00 operation, I would like to help her with that.
Take care of a lot of my fanily’s needs..I have brothers who have been out of work, etc..
I would also help my church..We have been meeting in a production building..I would like to build a moderate church for us!!!
With 10mil.. i would:
1. tithes(1mil).
2. pay off my sister’s morgage (150k.)
3. build an apartment complex with sports facilities and landscaping(1.5mil)
4. buy a nice ride for outdoor adventure.. haha (50k)
5. Trust fund for siblings n thier children with set monthly payments. (2.5mil)
6. give to close friends (10k each x 10)
7. regular living and travelling expenses(500k)
8. charity donations (250k over a period of time)
9. build a rehabilitation complex for the elderly and mental ill (500k)
10. remaining funds for my future family, i.e wife and kids, retirement, college etc.
Yes I would help out my favorite charity after paying off student loans and the rest of my bills. Then I would buy a car and a house. Help My family. Then I would go discuss options with my doctor for my heart operation. Then after recovering (I hope) I would live Happily ever after. :)
Ada Kull
Flrst – I would pay Uncle Sam what is due to the Government
Second – I would give 1/2 os what is left to Haiti to help
rebuild there country.
Third – We are in our senior years and my husaband is recovering
from a very serious illness. We would like to do some traveling
Replace our 2001 Hyundai Electra with a new Car, and help our 6 children and many grandchildren.
Well I would take the whole thing at once. I imagone that I would clear about 6 million out of that 10. I have 4 living children so they would each get 1 million. They can take care of their kids school, etc. out of that. All 4 of them are doing very well financially so I know they would help my grandchildren. I have 2 sisters left. One is 71, the other is 55. They would get 1/2 million each. That would leave me with 2 million. I would give St Judes Hospital $100,000.00. Pay off my car and mortgage and all my damned credit cards. Put the rest in the bank and collect interest on it (about 50K a year) and live on that along with my social security.
I am 72 years old and a widow. I have to work to keep a roof over my head and food in my belly.
I had to charge a lot of stuff on credit cards because my house burned down and I lost most of my belongings including a wonderful son. I had a small insurance policy on him but it wasn’t enough to replace the things I needed. I didn’t own the house so got no insurance from that.
It would be great not to have to work anymore and just volunteer my time at a hospital.
what i would do with $10 million as a diviorced single mom of six great kids is buy a house and a car , pay off bills and finish my college education. i would donate to the lucile packard children icu at stanford hospital in palo alto,ca. for helping my 5 year old son anthony when he was there,just 5 months ago.
The first thing I would do would pay 15% toward a christian organization. The next thing I would do would be to get my teeth fixed.
3. buy a house-300K Car100K
4.give all of my family members reliable transporation(200K)I have HUGE FAMILY..
5. Provide homes for all of my immediate family(500k)
give each and everyone of my family members 5K(500K)
Start an organization helping people who are exiting the prison system by providing traning to enter into society successfully.
Travel the country privately helping people who I feel compelled to help.
Great Question!
Help people who need help, start up a food shelter, or donate alot to the one we have. Support family pay there bills, my bills. Give belated xmas gifts to the ones i couldnt afford last year, (and the year b4). Fix my car!
I live in a retirment community and they are adding Office and rehab center to the hospital here they would get $2 million for that.
I would give $1 million each of my two children and two nephews. WE have two Policemen that have been killed on duty and one policeman that badly hurt when hit while on his police motorcycle each would get $1 million. The rest I would invest in tax free bonds and live off the interest.
I would continue to help fund ‘REVIVA’L for the Kingdom of God! I have already vowed to God 1/2 of whatever He gives me. So far He is only increasing me.
I already do that with what He has given me, therefore, that MIND SET would not change.
I would increase the size of my home from 1500 sq ft to at least 3000 sq ft.
I would replace my mini van with a new mini van.
I would purchase the 40 acres next to my church, and I would help fund the dream of my pastor’s wife to build a children’s home.
I would put my children in private school.
We would take long over due vacation.
I would set my mother up in a place she could manage and free her from the business that had tied her down for so many year that is robbing her of real life.
I would help my older son finish his masters degree.
I would open three stores, one in KC MO, one in Columbia, and one in St. Louis MO. to start.
What would I do if I won 10 million?
I would say that I would be that generous, because I like keeping my needs simple, though I would indulge a few dreams that I have.
1. First I would give the majority of the money to the church that I attend. I like to think that I am moving closer to my lord, and being as that is way more money than I would need in my life time why not? Besides we are building a new church, a place I will be spending a lot of time now, and it would give me great pleasure to finish it.
2. Second with the million or two that I keep, I would hire the best advisor I could find to help me invest it as wisely as I could to minimize my tax burden, and provide a comfortable source of income that would take care of me and my wife for the rest of our lives.
3. Of course I would pay off all my debt, school loans, credit card debt, which I would then destroy. (the credit cards that is)
4. Take my wife on a vacation back to her birth country, and on a cruise, and take the family to Disney Land and Disney World and a Disney cruise, in other words there would be a lot more traveling for this family.
5. Provide a trust fund for my kid’s education so they would never need to go in debt to go to school.
6. Help my siblings any way I could without divulging how much money I had. I remember reading Donald trumps book, and the part where he was talking to a friend of his and asked if he still see’s his family, to which the man answered, why yes, I see them in court. That’s sad
7. I would find a way of getting a week to my own self and breath, relax, and probably spend a lot of knee time giving thanks for finally having the burden of poverty removed from me.
People always say that money can’t buy happiness? I keep thinking these are people who have never had to put up with being without enough money. Never had to tell their kids we don’t have any food tonight, we can’t eat. Have to tell their kids they can’t buy this or that, not because they don’t deserve it, you just can’t afford that and pay the rent, gas, lights, food, etc. that’s about it. Thanks for providing the space to get this off my chest. And dream. Of course I would also be retired I’m not as young as some of you sound, I got a late start in my own family life having helped my brothers and sisters, and cousins raise their kids. (they use to call me mister Belivdeir.)
I want to have enough money to be a stay at home mom. My husband doesn’t think we make enough money to support more children, but after having my first, I want to have many more. I guess if we could get the bills paid off and the house we just bought, we could have more children and I could stay at home. Just writing it makes me feel ridiculous. My mom says no one stays home anymore…women work too. I feel if women weren’t so forced into the workplace, our country might have better values and kids might get a better deal. I think it is so amazing when moms stay home and really get to raise their children.
What I would do with ten million dollars!i was told by my doctors that i have the beginnings of aushimers, and before I for get my kids and grand kids name I would like to pay off there debts. get me house
pay my debts off live in peace. because where i live now , I’ve had people break in steal things from me put sleeping pills in my drink. i know some people my think that it’s someone close to me it’s not i live in a drug infested apartment complex i live on social security. so i say yes I would like to win 10 million Dollars, I could feel the touch of the green dollars, smell the fragrance of the new bills, hear the sound of them passing in my hands, and see them in vesting for my family, in the bank.
Hi, I would love to win a large amount of money to be shared and help so many others. First I would give the Government their share and than divide what was left and give one half to Haiti to
help build buildings and give food and necessaties to the needy.
The other half would be for my husband and I to travel and share with our children, church, and to enhance our life as we are elderly.
If i have 5000 million dollar i will
_ help people
_study
_ for my parent to buy village ; mordern car ;etc
_go to america with my family
_open donut company
_Give 1/4 money to kids for them to study
First, I would set up scholarships for the grand kids, but would only be able to draw small amounts for whatever, until they finish college.
2 nd. Set up more liberal retirement funds for my Wife & Self, then for our daughter, but she can only withdraw 80% of the interest each year, or unless more is needed to buy a house.
3 rd. Give a good sum to Shriners Hospital in Springfield, MA, then a like amount to my Methodist church, the local Shriners in Syracuse, My Masonic Lodge, the Masonic Medical Research Lab in Utica, NY,
4 th. A goodly amount to the “East Wood Skate Park” in Syracuse, NY for their new skate board park behind Hunnington School in Eastwood,and some to local charities. Any left over would be spent wisely.
You’re all insane. Why would you tithe the money? The government already takes close to 40% for social programs! You can’t give away much without huge gift taxes being imposed on you. And why would you want to give it away, since it won’t be worth nearly as much as it is in the next 10-20 years anyways? Check out the inflation rate on 10 million dollars between 1990 and 2010. You’d need $16.5 million dollars today just to have the same purchasing power as you did with only $10 million dollars in 1990. Sure pay off some debts, but don’t go and give it all away. Be greedy and keep it, and keep working. How do you think the “rich” get rich? They work and save and it’s all a big game.
When I received my $10 Million Dollars, the 1st thing I’m going to do is draw up a WILL, then get life insurance for myself and three children, pay all my creditors/collection agencies, buy a house, a car and invest $100,000 on my fashion ideas.
If I had $10,000,000, I would invest it all in a savings account with a 3% intrest. Thats $300,000 every year. It would be a bank account I could pass down for generations. It is pointless to spend all that money right away, over time you end up making tons more if you save it. And if I donate most of that to charities, say $200,000 every year, not in one big sum, but spread out over the year. then that is a constant gaurenteed sum of money for them. and $100,000 is a very nice salary, so to say. it would be enough to send my future kids to college, and enough to keep my family out of any financial situations, potentially indefinately. and if $10,000,000 can do that, why the hell would I spend any of it right away?
If I had millions,
I would help my school district. They are in such need.
Then I would fix my teeth,Set aside money for collage, and help out my family members.
Of course I would then pay ff my debt, buy a house and quit the miserable job I am stuck in (although I am grateful to be employed :-) Then take a vacation.
Invest the rest.
Ah, to dream of winning a large sum of money. I like most of the responses I’ve seen here. A lot of people that could use/deserve the money, using it in creative and helpful ways. Myself, I know most of my money would go to helping the people that have helped me throughout my life. I consider my friends to be family, and as such, they would come first on my list. I would help them pay debts, fix cars, and get food in the pantries that are bare. Taxes or no, ultimately, as long as I could help them, I would.
I would buy a piece of land out in Montana somewhere, out in the woods maybe. Put myself a little trailer on it while I’m building my house. Nothing extravagant, just a nice little place away from it all. I’d get myself a decent car, again nothing fancy, just something to get me to where I need to go. I’d go shopping for some clothes, the older I get the more I realize I still wear clothes I wore in high school…12 years later! I’m extremely lucky I haven’t gotten bigger haha. I’d invest in some ideas I have rolling around in my head, along with some ideas my friends have had over the years. Nothing like old times, sitting around with nothing to eat, coming up with great ideas but no way to follow through with them. A large amount of money like that would definitely be a plus on acting on those ideas.
The dream of winning something like that is always fun to think about. I may never win a huge sum of money, but I can always dream about what I’d do with it if I did. In my opinion, its the people that have lived most of their lives without that would do the most and best with that sort of money. Sure, some can get carried away with it, but, the people that really care could have all the potential in the world.
Just my two cents…or two million ;)