$1,000,000, what would you do with it?
- Thread starter Joshua Farrell
- Start date
Pay off my medical bills and student loans, buy a house for my family. A truck for my husband and a car for myself would also be bought. Roughly 10-15k would go into an investment fund for each kids’ college tuition, a good portion would be donated to Shriners and or Cure Childhood Cancer foundations.
I would buy a house and furnish it. Nothing too expensive. I would buy a new car as well. I would then spend some money on fixing up my parent's home. I will put some into savings to collect interest and I would also donate some to my favorite ministry.
Well, on one hand, making 1 million into more sounds fun. However, it could be possible to just develop hobby sites and draw traffic to them, not exceeding the million dollars.
Of course, travel would be in the works also - as I love travel, more so than having some fancy home.
Of course, travel would be in the works also - as I love travel, more so than having some fancy home.
First and foremost, hire a financial adviser and a CPA lol
I'd probably resolve my dad's debts and pad his savings. Then my grandparents' medical debts, if they have any remaining from their accident several years ago (don't think they do). The rest of my family is doing fine on their own.
After that would be a college fund for my younger sister, with a few thousand more set aside for a beater car when she turns 16. That is, if she maintains her 4.0 GPA for that year. 😉
My husband and I don't have any personal debts, aside from our mortgage. Don't want to pay that down right now, though, since the market is about to take a turn (early 2020, watch out [I work in finance, the industry has known about this for a few years]). Depending on the adviser's opinion, I'd probably pad our savings some more, followed by yearly max on a Roth IRA, and then look into mutual funds. Anything remaining would go to stocks.
I'd probably resolve my dad's debts and pad his savings. Then my grandparents' medical debts, if they have any remaining from their accident several years ago (don't think they do). The rest of my family is doing fine on their own.
After that would be a college fund for my younger sister, with a few thousand more set aside for a beater car when she turns 16. That is, if she maintains her 4.0 GPA for that year. 😉
My husband and I don't have any personal debts, aside from our mortgage. Don't want to pay that down right now, though, since the market is about to take a turn (early 2020, watch out [I work in finance, the industry has known about this for a few years]). Depending on the adviser's opinion, I'd probably pad our savings some more, followed by yearly max on a Roth IRA, and then look into mutual funds. Anything remaining would go to stocks.
I have a nice, paid off Jeep Grand Cherokee that I'm very attached to, so wouldn't want a new car unless that one was totaled. In general, I prioritize financial security and experiences. Might take a few nice vacations, I suppose!
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