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Okay, this should be fun! I would likely invest all but $65K, so we can add that $35K to our yearly income, as we need additional income during our retirement, although that need will lesson a bit when we start to collect Social Security. Hubby would like to move back to the Chicago area, where we were born and raised, but to a different location. We are looking to buy an older cooperative apartment in an elevator building in downtown Evanston, where we can walk to stores, library, church, beach, parks, and NWU, or take public transportation to see the relatives.
Now, for the $65K I would be blowing right away: First, we may have a wedding coming up so I will allow up to $1500 to book both a Bagpiper and a live swing band for the reception. I am trying to encourage the reception right at the church with the reception being a potluck dinner in the Fellowship hall. That way, more people can be invited to the reception. Also, a couple of airplane tickets for out-of-state bridal party folks. So we will leave that at $8.5K total for the wedding. Then some repairs on the two homes before we sell them - $20K, $10K for dental work, $10K for move, and $10K for fix-up at new place, and $6K for miscellaneous.
So $935K gets invested to provide for a yearly interest income draw of an extra $35K. I hope the math works out right! Or sort of close!!
One million dollars!! I'd need a day to get off the ceiling. haha
I have debt so would pay that off first.
I have family in OK that could use some help. In particular my son. My daughter is being helped by her father, but I would give her some, too.
SPCA and other animal shelter places would get some.
I have glaucoma so would want to donate to that...... find a cure!!!
I'd like to have two homes, one for winter and one for summer. I'm not especially crazy about the south, too hot/humid for me, so some investigating would be needed to find the ideal spot. For summer time, I have always wanted to visit Montana. I don't know if I would want to live there, but I'm dying to see it. I like Maine, New Hampshire, Vermont.
Currently drive a 2009 Corolla which is a wonderful car and probably would want to stick with the brand..... just buy a new one.
St. Jude is a pretty worthwhile place to give money to.
I wish there was a cure for so many illnesses. But in my opinion, it seems a lot of them have been getting tons of money for a really long time and no great strides have been made. Lou Gehrig's disease, cerebral palsy, M.S., M.D., so many.
I need to bookmark this. I think about this all the time.
I'm 35. My thought has always been that $1 million isn't enough for retirement, it wouldn't change anything right now. I'd just invest it and then deal with it when I'm older. Maybe I'll get a newer car (like $25K, nothing crazy), but that's it.
I'm 35 as well.. I'd use it to fund my idea of finding a nice up and coming beach town in the Caribbean or Central America, and buying/opening a beach front sports bar that caters mostly to Tourists. I find any time I go to these places, the places that are owned/operated by Americans and cater to those tastes tend to do gangbusters.
Best answer yet. It MIGHT be enough to pay off your bills and get off the grid. Although, you need to ask yourself it $600k is enough to fully get off the grid (400k goes to taxes).
If I were reasonably well-off at the time of the windfall, I might start a small nonprofit foundation for a cause I feel close to. Why not; I can't take it with me.
I would either do this, or just donate to a small home for the elderly poor that is now trying to develop along the Eden alternative model. I have given to them for many years and respect what they do.
I would either do this, or just donate to a small home for the elderly poor that is now trying to develop along the Eden alternative model. I have given to them for many years and respect what they do.
yeah right, I doubt it but I do think you would like people here to think you are all benevolent and totally selfless.
First, thank God! Second, probably try to jump up and down without falling and breaking a hip.
I would be able to get much needed dental work and get a new pair of eye glasses (with my poor vision, they are very expensive).
Make sure the money is properly invested and ensure I have beneficiaries listed!
Help out several very close friends who are in dire straits.
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