What would you do if you got a windfall today?
March 19, 2009 7:54am CST
Imagine that you've just received a windfall that after taxes, comes to $1 million. What would you and in what order? How much would it change your life? Would it help you to become the person you're meant to be and why? If I got a $1 million dollar windfall today, I would: 1) take half and put it in a safe, lock it up and "hold it down." 2) pay off my $14,000 student loan 3) pay off my $600 credit card debt 4) pay off that old mobile phone bill 5) get those scratches on my car fixed, and get the arm rest fixed 6) buy a sleep number bed 7) take my family on a vacation to (where else?) Miami; fly the three of us first class and stay at the Lowes hotel 8) upon returning home, treat myself to a $1000 shopping spree 9) give about $1,000 to my alma mater, and purchase a lifetime alumni membership 10) have dinner, the full spa treatment and a one or two night's stay at the Mandarin Oriental hotel and spa That leaves about $375,000 of the $500,000 that wasn't initially tucked away, so I guess I would tuck away some more of what's left, and then go on living, or maybe, just maybe I would consider buying a condo, if I could manage the property taxes, repairs, (no mortgage b/c I would pay cash for it) utilities, etc. on my regular job w/o using my windfall. The important thing for me would be to leave enough of the windfall so that I'd always have money just in case, and so I could still feel wealthy. Whew! I'm a little winded from all that thinking about windfalls. I'll go grab a cup a coffee while you all post your responses. :)