WAHM Forums

Maybe you won the lottery. Maybe business took off. Maybe you received an inheritance.

What would you do if you suddenly had $1 million?

I would pay off my bills, give to church, buy a bigger house, buy a new car, save a lot, take a trip. That would cover the first week!

Oh, what a wonderful thought! Pay off my house, buy new furniture, a new car- pay off my mom's house, and SO's moms house... So many things!! I know that a lot would go to giving back and helping others, too!! I would stay in the same house, and still WAH, but SO would prob quit his job to come WAH with me. I'd have 100 more babies and never have to worry about bills again lol (ok, I'm going overboard now lol)

Thank God! Tithe,and invest, invest, invest. Now days 1 million dollars will go fast!

Pay off my debt, and my SO's debt - as well as his mother's and my mother's.

Buy a house with a nice big yard. Furnish said house with almost all new furniture then get a playset for the yard.

Buy two new cars.

Donate to a few charities.

Then put money away for my son's education and invest.

Good question! I will pay my tithes and offerings. Then, I will invest it in both real estate and virtual real estate so I can make some pretty nice profit and use the profit to help an educational fund for less priviledged children who cannot afford to go to school, help other parents who want to work from home so they can be with their kids, travel the world to see my family and friends.

Oh my I would buy a house, pay off debt, buy a new car, give to charity and I would split the rest with family.

Fun Post! Build my log home in the country, buy a new car, share with family and invest the rest!

Diane

My husband and I have recently said that if won a million dollars we would put a lot of it in our children's savings savings account, get a new car and the rest we would give to a family we know who is going through breast cancer and has nothing left.

First I'll go mad, then I'll start spending the money,....or I'll bring them to a bank....or I'll keep them at home, well, I'm really puzzled

Pay off all bills. Hire two financial counselors and an accountant.

Buy a new home, share with my family, friends and favorite charities and then keep working my business as usual.

I would take care of the people in my family first, then pay off my stuff . I know this little girl were I last worked and she was very poor, I would make sure she was taken care and I would give her a college education when the time came.

I would buy a car for me and my husband, buy a home, give to charity and invest the rest. I don't want to use it all up and never have more! lol

I would pay off all my debts, help my family out, and finally take my husband and kids back to daddy's homeland of New Zealand.

I thought about this long and hard. Have you ever seen the Eddie Murphy movie coming to America? If you have you'll know what I am talking about.

I'd hire girls to carry buckets of rose petals and have them throw them at my feet wherever I walked...Everywhere...

Hire a tax attorney and an investment counseler. Grow the captial and live off the interest!

Get out of debt. Give to the church. Help the needy. Buy a new house, car, and wardrobe. Save and invest the rest.

I guess i have to think of something simpler than what i am dreaming of at the moment since $1M would not be enough for all my wish lists but definitely I will consider investing half of it in a small business and 1/4 for my family (or they can put it as share to an investment as well so there would be no need to depends on me for life :) ) and the other 1/4 would be for taxes and other remaining (if any) would go to charities (i'm just being realistic, I don't think that anyone would give half a million only to charity especially in this time of crisis unless you have too much of it already... motto is Help yourself first then help others)

Network Marketing (http://www.donnygamble.com)

I would actually stay where I am at and just pay off my mortgage loan as its not that much and I'd get my landscaping, basement finished and my wood floors!

I'd keep my current Van as its in good condition for an "02" but I'd pay off hubby's Honda Ridgeline.

I'd put some in my kids college funds and I'd REALLY educate myself on investing. I'd put 250k in separate banks for the FDIC insurance security until I could properly invest it all.

I wouldn't go out and by tons of things as I currently have the things in life I need. I would think more of our families future and how we'd be able to spend it together living good!

I would invest most of it! I'm a big believer in growing whatever you have so I'd grow it into something even bigger! Then I would set up trust funds for all the kids and grandkids!!!

After watching over 200,000 vanish with the insane crash over the past couple of years.........I lean towards long term goals!

Hum, $1 Million, I don't think this would go very far since a decent home in Taos, runs about $600K. Starting there and then moving on to taking our entire family on a vacation of a lifetime. Building memories that will last a lifetime! Next, purchase an MKS (that's a car for those of you that didn't know). Set money aside for our two youngest for college, one is a Senior the other a Freshman. Put some away in an IRA and then at least $10K to local charities. I know that isn't exactly tithing (sp) but that's were I'm at.

Love this question... my husband and I dream about this all the time... even though we RARELY play the lottery... I don't know how we expect to "win" this money!

I was just thinking about this in the bath before work this AM.

I watched the Oprah show on million dollar winners this past week and I honestly had tears in my eyes for the people who won... they were so shocked, grateful and HAPPY... I was feeling for them... just to know they they never have to worry, be stressed or need/want for anything MADE ME HAPPY :) It seems as if most of the winners, truly needed this money and it really changed their lives forever. I was so happy for them and I'm not a real emotional person!!!

Anyway, I would offer to pay for the remodeling of our small church... we currently have roof leaks and NO hot water (water heater broke) I would also incorporate a soup kitchen to feed a couple hot meals to the needy each week and would also try to add on some sort of a shelter for nights. It get super cold in Michigan... I hate the thought of those who are suffering outside. It's so sad.

Next, I'd build a new humane society for our community. Ours is pretty bad :( I'd give the animals more outdoor "natural" room to roam. They're couped up in cement floor/fences inside.. better than being starving, homeless, sick and abused though. I am grateful for what we have in our town.

Third, I would assist our adult siblings and parents. With my parents struggling (dads in college), our brothers and sisters struggling... we would offer to help in the form of a vehicle for each family or possibly a small modest home. We would also set up some college money for our 3 neices/nephews.

Fourth, we'd help some very close friends. Not that they need it, but it would be nice to make other people's life easier :)

Lastly, we would take care of ourselves... payoff our home, do some simple remodeling (a fireplace, flat screen, small addition) we'd put a fence around our 3 acres (I've always wanted one) and we'd by the two empty lots behind us for some small fair animals for our kids.

Personally, I'd get braces!!!
My husband... would LOVE a nice barn.

I bet we'd take a nice family vacation too...

Thanks for asking this question and allowing me to "daydream" again.


Can't wait to read others' replies...

Alot if you may think I am weird, but I hate it when my husband plays the lottery! I have a fear of winning it and it will change us! I understand we have control of how it will effect us. Don't get me wrong, I would definately payoff debt, give to our church & charities, and help my family, but the remainder would be a worry to me. If it was up to me, I would give it all away, but that's where my husband and I would have arguments. I'd rather have our happy home the way it is now!

pay off my boyfriends house, buy me a car, buy my parents a house, put some in savings just in case thee boyfriend changes his mind on marrying me. ;) Maybe buy a house for myself or at the lake/beach. Take a trip to Ireland. Go shopping! I dunno, that about sums up all the money.

Quit my job, buy a new car, buy a new house, pay off debts and bills, and go on a vacation with my family! :)

If I ever won $1 million. I would either set up a fund to help low income people get emergency veterinary care for their pets or I would open my own animal shelter. I know what it feels like to have a sick/dying animal and either be turned away by the vet for being unable to pay or have to go into debt to get them the help that they need, only to be bled dry with promises that your pet will get better only to have to watch them die anyway. It has happened to me three times! I hate that people and their animals have to go through this. It makes me so angry, that someone who knows how to and is supposed to help is willing to just let them die over a lack of money. It's disgusting! The same thing with health insurance, people are dying because they don't have the right health insurance or any at all and no money to pay for their health care. I think it's outrageous that these things occur and if I had the money, I would do everything I could to help people in this situation save their beloved pets.

I would pay off all my debt.

Build or buy a nice little house for my son and I.

Buy a nice car..but nothing over the top.

Invest and Save the rest.

You're right, $1mil doesn't go as far as it used to. But I'm new here so I thought I'd jump in the deep end with ya'll...

This is actually a great thing to think about, rather than worrying about bills and such!

So my list...

1. Fund a huge investment account

2. Refinish our yucky old wood floors and make them beautiful

3. Do some landscaping

It's fun to think about!

--Dianne

Travel was number one for me. I haven't made a million yet, but I have made enough that we travel almost constantly. I swear the little adventures and great escapes are what make life worthwhile.

Although, I must admit that helping three daughters pack for a trip takes a ton of patience, and maybe a referee.

Maybe you won the lottery. Maybe business took off. Maybe you received an inheritance.

What would you do if you suddenly had $1 million?

I would pay off my bills, give to church, buy a bigger house, buy a new car, save a lot, take a trip. That would cover the first week!

if i had a $1 million, the first thing i would do is to pay all my debts (if i have one), buy all the things i want, donate some in charity, travel, save, and share it with your family..

Wallowing in daydreams now!

I think the only major change would be we'd do the things we're working for, immediately.

Buy a house with a garden in France. That's it. SO would leave his job, but we'd keep our WAH business. I've WAH since my children were born and I've revelled in the chance to use my brain a few times a day for something other than kid stuff.

I'd invest half of the money, pay all family debts off and donate the rest to charities (LOL, get me assuming it'll be gazillions!)

Wouldn't it be grand to not have to worry again about what you're spending?

Paying off debt would be first on the list. One million dollars isn't what it used to be!

I would definitely build my dream home after buying a building lot on a lake! Of course I would also invest in a car and put some in my retirement account.

give about half of it away.. and play with the rest..

A million dollars...whew!

I'd take the tithe off the top and then pay off my house. Buy two new cars, wood floors, new furniture and invest the rest.

Woo Hoo!

Jane

Pay off major bills.....woooooo!!!!

Buy a new home and pay off some debt. Also put some in savings and invest some.

Help my mother since she has helped EVERYONE...she is so generous and such a kindred spirit.

I'd pay our remaining debts off.

Put money in the bank for my kids,

Have my money work for me by investing (I still think real estate has a chance)

Put a nest egg aside

Buy a home.

I would pay off all my debts, purchase a new home, new vehicles for both my husband and me, and quit my job to work from home full time!

...but not a real green dress that's cruel. Oops, sorry!
With a million dollars, I'd pay off our mortgage and bank the rest. Then I'd use the interest to help family members and take a vacation.

It will be a much shocking and instant surprise for me.My Heart will be beating so faster and feel so much sweating.I will first make my quick decision how to invest this money to make it grow double and more day by day.

First thing I'll do is thank God for His blessings. I'll give my tithe, and put the rest to my investments and live on passive income. ;)

Pay off debt, give to charity, downsize. Travel.

If I won a million dollars I would tithe, pay off bills, save some money and travel.

If I won a million, I'd first of all pay off my sister's hospital bill for her masectomy from breast cancer, I'd set up a savings acct for my daughters for school, pay off all our bills and house as well, travel and then start a home business for my husband and I. Also take my daughters, husband and mom to Brasil to see our family. And for them to meet my husband and daughters.

I would definately buy a house and new car. A new wardrobe for sure. There are tons of people in need right now so I will help alot there.
and invest the rest.

Danielle

Invest in real estate !

Such a simple question but quite hard to answer cos there are a lot of things that I'd like to do with $1,000,000 ;)

Pay off debts definitely ranks the first; give some to charity; place majority of it to our twins' savings account.

I'd love to start a small library for children who can't afford to buy books or reading materials. Being an author for children's books myself, I know how important reading is to children. I've always encouraged my twins to read a lot of books because it will sharpen their imagination and lead them to be open-minded people. It would be great if I could extend that to less-priveledged children.

Pay off my house, put a new roof on house, new siding, new windows, new carpet, add 1 more bedroom, hire someone of coarse to do everything, remodeling both bathrooms,a nd kitchen, and buy all new furniture. Buy two new vehicles. Get my yard landscaped, and that is actually it, put the rest in savings and bonds and CDs. I am very simple. I would just improve with I already have. I do not need the mansion, I have a 2,100 sq ft home just needs updated.

http://i85.photobucket.com/albums/k54/msuggitt/th_7up_characters_and_baloon_dancing.gifBefore or after my happy dance?????

I would not hoard it but spend it doing things that made me feel good. And I probably would not stop singing "I won, I won, I won"

I will invest in financial bank.with the 3-4% of yearly interest for me to spend.So this 1 million will stay will me forever.:)

I need to think about this before I answer you guys. :confused:
I would put some of that cash up for my kids college tuition. Then I would probably go on a vacation with my family. I am sure there are some other stuff that I would want to get for my kids and myself. Whatever is left, it would surely go into a savings account for a Rainy Day.:D

I have thought about this way too many times.

Trust fund for my son (and future children)
Pay off my debt (which isnt too much but enough to be a problem - including my student loans).
Buy a new/newer car (doesnt have to be bran new, but newer then my 96 Jetta)
Pay off my moms car (shes only got like 14 payments left)
Move back south (I'm still trying to figure out WHY I left the warm weather)
Buy a piece of land and build my dream house (nothing huge or extravigant or fancy McMansion - but enough to suit my & my family's needs - and include a home office/workshop) *and of course furnish the house*
Set up a business account (And work on getting my ducks in a row to get my business started)
Go back to school (this is actually free - the school I went to has retraining for free for life to keep you up to date with industry standard) so I can brush back up on things and make some contacts/network
Join a gym/hire a personal trainer
Start working with my Ob on discussing IUI (I'm 30 and want more kids... I have a Million dollars... I'm not going to hold my breathe and wait to see if Mr Right decides to show up before my biological clock runs out or not)

Everything that's left over - I'll make a couple of charity donations and the rest will go into various savings accounts with high interest rates. It probably looks like I'm doing a LOT with very little money (lets face it... $1m does NOT go far these days. But I've actually sat down and played with the numbers, more then once)

Half would go to taxes.

Pay off my house.

Pay off all my other bills (and my husband's bills).

Buy my hubby season tickets to baseball at least the first year (he is an Angel's fan)

Buy a tombstone for my best friend (my bf died a few years ago and her husband did not have the money to get a tombstone, even now there is nothing other than a paper marker where she was laid to rest. I would like to get a nice tombstone in her memory. I realize they don't cost much, but I don't want to spend money on something that her husband might want removed later-when he can afford something he wants. I don't have any more contact with the husband. He has kinda stopped talking to all his wife's friends so I think I would have to purchase it without his input and then just let him remove it later if he wanted.)

The rest in the bank or spend on a vacation etc.

I live in California where the housing prices are high so most of it would go to pay off the house. But not having a house payment anymore would help out a lot.

I'd like to think I'd spend it wisely.

Thats what I would do, reinvest it all in to real estate... Buy and flip houses,,, the best and quickest way to make another million

What would I do if I won $1 million? I would pay off out debts, put money away for my twins' college fund, buy a comfortable, modest home, buy 2 new cars and definitely give to my sister who has helped us so much in the past year. We all can dream a little dream!

I would give some of it to my nephew and niece for their college education. Buy a new, used car which I badly need. Buy a house with my own art studio attached and travel. Donate some of it to my favorite charities and invest the rest so it will grow through dividends and interest.

I would help out my two grown sons. One is married and things are tight for them.

I'd put the remainder in an investment that isn't tied to the stock markets, and is reasonably safe and stable. Then draw it out as I need it for living expenses, maybe a new car, maybe some travel. Who knows?

I usually find threads like this depressing because I know the chances of it happening are extremely remote, but sometimes it IS fun to daydream about it.

I would pay off all my debt, then I would by a brand new car, and the travel with my husband and child

PAY OFF OUR HOUSE! Pay off our credit cards. Buy a bigger car to fit the family. Take us all on a trip to disneyland! Donate some, save some. oh, and pay off my mom's debt because she's helped us out so much!

Now I really wish I had it! Those plans sound great!

I would give, give, give, and then save, save, save! :)

Pay for my kids college, get a new roof, get new windows...maybe a new car and take a vacation.....

for me, I would buy my dream home and car, set up nice savings accounts for the kids, get my business equipment updated and then give the rest away :)

I would hire an interior decorator for my house, buy my husband a truck and his dream car, buy an RV, pay off my debts, put half in a trust fund for my daughter, invest some of it and keep the rest.

me too.. i'll pay all my bills.. buy a house and lot.. a car.. and a business.. and share it to the orphanage..

wow!!!that would be a great help for me...i would buy a house &lot for my parent, a rest house for my mother in law, a brand new car for my husband, and the rest of course, i will share it to the rest of our family members. I've been wishing for that lately...

I would pay off my mortgage and cars. Buy some rental properties and a bigger house. Take a vacation. I wouldn't tell anybody that I won. I would just continue my life as is, but debt free.

i will buy a house and lot for my family first...but an expensive car for my husband and share with charities here in my country...and save the remaining for the future of my daughter...

Will buy a new house and lot, car and will open up a business. Of course I'll donate some to less fortunate individuals in the community.

I would pay off all of my debts, as well as those of my family to give them a fresh start. Start college funds for my kids. Give the remaining money needed for our town's new playground that I'm raising money for.

Actually I am thinking of putting up my own charity institution as well. It is one of my childhood dreams to have one myself.

If i knew that the money was not something I earned I wouldnt feel bad about giving most of it away and making my garden nicer.

I would of course pay off all our debt, also our sons families, then something nice for my hubby. He has sacrificed, and worked hard for us his whole life. I love him today as much as I did 32 years ago, and now even more.

Then of course help our extended family, and charities. My one personal wish would be for a small cabin on a lake where we could retire together. :p

i'll save money for my sons education and for the future of my wife if we are already old person, i'll buy new house, car....

WIll invest those money at right place,
so can do double it within right time..

Hmmm, what WOULDN'T I do...

Sure paying off stuff would be great! But if you pay off your house, then you have no mortgage interst deductions or any other homeowner deductions. Better to buy a bunch of rental properties, and make your house payments off of the proceeds, once you funneled your profits thru your S-corp!

Next, put that money to work!

If you have that kind of a guaranteed income, lenders will bend over backwards to put their money to work! So don't spend yours, use theirs!

Get an educated accountant, and put them to work while you go look for other ways to make more money. Look, no one is going to be happy long while sitting on their butt. So go do something!

Anyway, that's my two cents worth, cause that's what I'm doing!!

Is that $1 million gross or net? Either way it doesn't really matter I suppose. I would have my daughter and son-in-law choose where they wanted to live and purchase the home they want there, since my son (he's 18) still hasn't figured out where he wants to be, I would put an equal amount away for him until he is ready for it, I would purchase my first home - and it would not be too far away from my grandchildren. I would pay off my truck and purchase vehicles for myself and my children (my son-in-law is included in that group). I would purchase life and death insurance policies for all of us, pay off our debts, and donate to various charities. And of course, I would enlist the aid of a reliable tax consultant as well.

__________________________________
www.thehealthandwellnessproducts.com

Pay off my mortgage.
Go on extended vacation with my hubby.
Get a hot car!
Of course help my extended family.

I would strat a restaurent business. I tried it couple of times but O do not have much asset and therefore banks didn't give me enough loan.

I would invest it wisely and retire.

Pay off debt, buy new car then invest the rest. No wasteful spending for me. That what gets you in trouble.

Since I am a Diabetic, I would give it all to this charity. Remember, the love of money is the root of all evil. Having money, is not evil. I came into this world with no money and that is the way I intend to leave. No footprint..

If I won $1 million dollars, I would first give to my church and school. I then would pay off all my bills to become totally debt free, then I would research some good investment strategies in order to flip what I have left of my $1 million. I would also take my family on vacations to places that we all never imagined!

What wouldn't I do if I won 1 Million Dollars!? I would definitely give tithe to church first. Then clear all debts, by a house, new vehicles, set my kids up for college, help family, SHOP. I'm sure there's more...;)

buy a house, car, pay of everything. invest in more ways to make money.

I would give it to the church and give it to those I love. Unfortunately, a million dollars would go fast...that's not as much as it used to be..why do you think Publisher's Clearing House is offering 10 Million dollars now and not a just 1 Million anymore?

If I won (or had) a million dollars I would live in Mexico... wait, I already do...

But I would live without worrying about money :) I'd do something boring and invest it in low-risk, low-interest insured bonds and life frugally off of the interest and pursue non-expensive interests.

I'd like it, but I don't need it. I can live without it, but maybe it'd be a little easier with it ;)

That's a big bucks of money! First I pay all my bills and then go shopping and off for country trips. :)

I'd visit an attorney within the day, then go to a cabin with no communication service for a few weeks to think it over.

My first goal would be to plan for my children's educations.

I would divide out amounts to give family and friends.. Then I'd give to my favorite charities.

I would set aside an account so whenever I wanted to bless someone, I'd just take the money from that account.

I'd probably pack up my home, and set out for adventures of travel with my sweet hubby. :p

Buy a house, buy two cars, travel for 3 months, set up a community centre in my church with daycare, mentoring and tutoring.

Ah...dreams!

I would pay off all my debts. Buy a new car for myself and one for my son, donate lots of money to food banks and my church and buy a condo in Rhode Island.

I would pay off my bills, buy some new clothes for myself and family, finish off the basement, get solar panels to get off the grid, help my siblings and a few close friends that have struggles after that I would have to think about donations to charities, cancer #1, american heart assoc and ms society. I also would love to go on a nice vacation, to relax and enjoy my family - I hate how working out of the home keeps you away from your family.

I work retail and noticed on the winner website of our state lottery that one of my customers won 6.5 million after taxes and since I spotted it have not seen him and his son in our store, but what do you say to someone like that..lol...congrats I spotted you on the lottery website or beg..ha, ha just kidding!

I think that half i would invest in real estate (cheap now) another quarter invest in stocks (very cheap now) and another quarter spend!

I love this question. I'd give 1/3 to charities to give back, 1/3 save/invest to grow more, 1/3 spend.

I would tithe/gift 10%; set up a college/education fund for each of my 5 kids; pay off my debts, then buy the house I've had my eye on --in that order. :)

First off, I wouldn't tell many people about it! 1 million wouldn't go very far.....
Pay off any debts we and my parents have.
Take the whole family on a wonderful family trip.
Put money aside for the college fund.

Nothing to extravagant.....hopefully put it in a good place to keep earning more money.

Keep some extra available to give to charities as a situation arises.

Otherwise I would keep on working, maybe just only 1 job though :)

Probably go on a tropical vacation and buy a new vehicle for starters. Then I would join a good network marketing company and go to work. Same thing most rich people say they would do if they went broke! Oh and do alot of fishing :D

Easy come and gone ...
Half the money I would divide those who needed more money ...
I would quit a job, he moved to Serbia, bought there house, car, apartment, cottage by the sea and the mountains and enjoyed ...

That's easy...
I have a rare cancer for which there are no treatment options and a community of people with financial problems. After I paid off my mortgage and medical bills, I would fund research and help other families who are struggling with the cost of long term treatment.

i would donate to church and charities, pay off all the bills, pay off the house and vehicles, buy a new house, travel around the world, and then retire to the Philippines,

Well after watching the documentary on lotto winners, I think the first thing I'd do is move! I'd change my phone number and get the hell out of town before somebody tried to kill me. LOL

i'll buy a new house..open a business.. share it to foundation.. pay all my debts..

If I had an extra million lying around, I would pay off my parent’s house so that my mother could quit the job that is slowly killing her. And then I would put the rest as a down payment on my dream ranch.

Jessica