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Old 05-23-2010, 09:36 PM
Status: "Hope is a walking dream." (set 11 days ago)
 
Location: Still in Portland, Oregon, for some reason
864 posts, read 2,981,383 times
Reputation: 691

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  • Donate at least $2,000,000 to charity (food banks, needy children, etc.)
  • Buy my aunt a brand new car.
  • Buy a few cars for myself
  • Build a modest house
  • Live off the interest
  • Travel for a bit
I'm not sure if I would tell anybody. Probably not.
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Old 05-23-2010, 10:05 PM
 
12,607 posts, read 14,609,308 times
Reputation: 14096
I would pay off all my debts, pay off my kids' student loans and fund the rest of college for the two who haven't finished yet. I'd buy a nice house with some land, but preferably still in the city. I'd buy my parents a house or I would build a separate wing on my house for them so they'd have privacy and so would we...and I'd hire some full time nurses to make sure they got their medication and their medical needs were taken care of.

I'd pay off my brother's house that he just built.

I'd buy each of my kids a car but nothing too extravagant, and I wouldn't hand them money all the time, either, because I want them to have a good work ethic. In fact, I think I wouldn't tell my kids I won the lottery for that reason. I'd help them, but not overly so, because I want them to learn to be self sufficient.

I'd set up a retirement fund so we could live off of the interest alone and not have to touch the money.

Then I'd plan and pay for a vacation to someplace spectacular for most of our family - parents, kids, siblings and their families. Don't know exactly where that would be.

And I would travel - Greece, Egypt, Australia, France, Italy, Israel - among other places.

And although I am not a huge animal person (although I love my kitty!), I have thought about the same thing others have mentioned - doing something to protect animals. It sounds bad to say it, but I'd rather help animals than people - because I feel like people usually have a choice about the kind of situation they end up in, and animals are at the mercy of people and really have no choice. I wouldn't make a very good social worker. That's not to say I would never help people but I'd be very selective about it.
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Old 05-23-2010, 10:35 PM
 
Location: Chicago
1,948 posts, read 4,294,746 times
Reputation: 916
what wouldnt I do?

Foremost I would take care of my family and friends
Id figure out the investing side of it, spread it around mutual funds, individual stocks, bonds, CDs, ect... I would then travel for a while and live it up. Go through Europe driving a super car, go somewhere tropical and rent a big boat, and 100 other things.

After I come back to reality I'd buy a few properties in the states, donate to charities and the needy, and finally start some sort of business.
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Old 05-23-2010, 10:54 PM
 
Location: Boise, ID
8,011 posts, read 22,505,069 times
Reputation: 9212
I would pay off my house, my sister's house, and my husband's parent's houses and buy my sister in law a decent house (she lives in a trailer with hubby and 4 kids, ouch!). Housing is cheap here, so that's about half a million or so total.

I would have to think hard how to handle my parents. My dad is bipolar and if I told him I won money, he would start spending it on an infinite number of "projects" that I'm not interested in (and then be shocked and hurt when I refused to participate). I would probably pay off their house and mom and I just wouldn't tell him we had done it. I'd have to figure out how to help mom retire, since my dad isn't the "retiring" type, but couldn't run the business without help...maybe hire a team to help him for a set time period.

After that, I would set up education funds for my nieces and nephews.

Then I would travel to all the places I've ever wanted to visit.

Oh, and I would volunteer part time somewhere fun, like a library.

I don't know that I would buy much. I'm not a "stuff" person, so I live pretty frugally by nature. I guess I'd buy a big screen TV and a new couch, but I'll buy those in the near future anyway, so they don't really count.

I would not buy a new house, as I love everything about the one I have, and I wouldn't buy a new car until the one I have starts giving me trouble (11 years so far with no issues).

I would donate to a couple of pet charities, and then invest the rest and live off the interest.
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Old 05-23-2010, 10:55 PM
 
Location: North Texas
23,599 posts, read 31,143,716 times
Reputation: 26656
Quote:
Originally Posted by mchelle View Post
Congratulations! You've just won 100 million dollars (after taxes) in your state lottery So, what are you going to do with it?
1.) Quit my job. I would not even give notice, I would just never show up again and they would have to wonder.

2.) Take care of my family financially; they would never worry about money again.

3.) Sell this place and move into a different house, hire a maid and a landscaper, and sit back and relax for about six months.

4.) Go back to school and figure out the rest.
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Old 05-24-2010, 05:15 AM
 
Location: Saudi Arabia
1,823 posts, read 1,596,948 times
Reputation: 779
Pay off my debts my parents debts .. start a business and the rest goes to community service
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Old 05-24-2010, 07:06 AM
 
Location: Sloooowcala Florida
1,381 posts, read 2,540,410 times
Reputation: 1174
***Pay off my mortgage.
***Pay off my car note.
***Pay off my credit cards.
***Buy my mom a house in FL.
***Put the rest in the bank for retirement.
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Old 05-24-2010, 08:52 AM
 
455 posts, read 1,328,225 times
Reputation: 402
First things first. I would invest it very conservatively (2% APR)... which breaks down to letting me withdraw about $166,000 every month and have the balance still increase. I would never touch the overall balance, only the interest.

I would split the monthly withdrawn money in thirds ($55,333/ea), between myself, my brother and my parents, letting them do whatever they wanted with it.

Over time (as the monthly withdrawals allowed):
* Pay off my school loans
* Buy a modest house (no mega mansion for me).
* Travel around the world.
* Go back to school for additional degree(s).
* Contribute the extra (remainder of my monthly withdrawal) to a couple of select pet shelters.
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Old 05-24-2010, 09:36 AM
 
9,807 posts, read 12,899,825 times
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A question?

--IF--a person won $100 million after taxes, where would you put that money before you spent it?

Since FDIC has limits, would you need to find 400 different banks to store the money just to be safe ?
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Old 05-24-2010, 09:37 AM
 
Location: Vermont
10,089 posts, read 10,606,893 times
Reputation: 13438
Probably the same as most people:

All my kids, siblings, neices, nephews, and in-laws would have their houses, education, and debt paid for.

Keep my present house and do all the changes to it my wife has been wanting to do.

Establish charitable trusts for some favored charities. (The two Legal Aid programs I've worked for, the family center my wife is on the board of, my high school, The Heifer Project, for starters.)

Travel and possibly buy a vacation home.
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