Take a trip. Paint the house. Buy a CD with the rest.

Re-do the kitchen and baths, new carpet, TRAVEL, help out DH's friend Mark in a big way, donate to charity, and save a bit.

A million dollars really isn't a lot these days. I'd sell this house and buy a bigger one on some acreage, buy DD a new car, DH a new truck and give some to animal charities.

IF I won several million I'd build and fund a animal shelter in my county since there isn't one now. It would probably cost about a million dollars though to keep it running... so I'd need to be a multi-millionaire to do that.

I had neighbors who had won a million dollars in the IL lottery. They retired and bought their kids all new cars.. but otherwise didn't change their lifestyle much.

After doing some remodeling, getting new vehicles, gifting my kids and taking a trip, I would take what was left and invest in some income property.

A million dollars doesn't go far where I live. Lots of good real estate deals right now though. Renters market is strong too since the housing crash.

Pay off the house, develop the basement, do some landscaping, take a trip. That would spend it all I think!

What would I do? Probably faint. Then I'd give 10% to my church, pay off bills, finish my basement, and help out my kids.
Leslie

In cash? I'd sell this house and move to Hawaii. That would about cover a place on the beach - maybe.
Clare

I would buy the house next to the biggest slumlord I could find and fill it with the largest disfunctional family I could find..........

Well, in our tax bracket we'd have about $500,000 left and you can't buy a house around here for that, so I'd finish our home remodel, buy a new car, help the kids get set up in a house to rent (DS and DD want to be roommates), continue to travel the world and tuck some away for retirement.

Whenever I hear "had a million dollars" I think of one of my favorite songs by the Canadian group Barenaked Ladies. Since apparently they never made a music video of the song, somebody pulled some visuals together with the song and posted it on YouTube. It's a cute song, enjoy.

Jodi-

Here is a link that might be useful: If I Had a Million Dollars - Barenaked Ladies

If it was a million dollars net, I'd get myself a smallish house, furnish it modestly, give some money to my kids and grandkids to help them out, then I'd splurge on making life easier for my sister Annie who's in a home. My tastes are simple, but the money could make life easier for me and mine.

Shirley

If I had a million dollars after taxes, I probably would maintain my present residence on Long Island, NY and buy a townhome with an ocean view on Oahu (I could lock it up with no worries/maintenance). I'd vacation there twice or three times a year. The flight from NY to HI is 11 hours!

Carol

I don't think a Million would buy much in Hawaii either.
Everythings expensive over there.
Leslie

I would hire a full time gardner, then with what is left, I'd have as many of this city's church windows refurbished and their outside walls cleaned as possible. There are some beautiful but modest churches (by European standards) here but the dirt of steel mills and other industry have taken a toll. I would love to see them restored to their original beauty.

Here in Canada, we don't have to pay taxes on "windfall" income, only on the interest it generates if you bank or invest it, so taxes wouldn't be an issue. I would pay off the mortgages of my family members and give some to my cousin so she can afford a nicer apartment. I would also underwrite our local school lunch program. Then I would sell this house and move closer to my sister. Buying a new home in southern Ontario would pretty well take care of the rest of the money. Oh well, easy come, easy go!!

Pay off the mortgage, invest for my retirement, take my husband to Europe. And buy a cd! That was so funny socks! LOL

Well, I don't really need anything. I am not very interested in buying things, and most of my house was renovated a few years ago. Maybe I would buy a car, and maybe not. I WOULD probably give some to my kids, and increase the donations that I make. I would invest the rest in my future. It's not really enough to retire on, and I like working anyway.

I would pay off my son's mortgage making his life easier. Then I would set up a trust to pay for his 3 children's college education. Tithe to my church. Go back to Hawaii and Spain, maybe to Italy. Those things would eat it up in a hurry, hope I would have enough.

Claire, if you find that place on the beach on hawaii for a million dollars, let me know!! :-) I'll be your neighbor! We've tried buying in Hawaii and the cost is insanely high!!!!

A million dollars in my family would be invested probably on rental property.

Funny, really? Certificate of deposit. Glad I made you laugh.

I think Debby thought you meant a 'compact disc', which would have been kind of funny.

It doesn't cost anything to dream......If I had a million dollars, I would buy a property advertised in our local paper. 80+ acres surrounding a private 25+ acre lake. Then each family member could build their own house around the lake, like a compound. Dottie

I would buy 5-10 acres in Montana and have my Uncle and Cousin build a really nice cabin on it for us and then move there (preferably without MIL). Of course I would have to buy some snowmobiles for recreation in the winter.

I would set my Big Sister up in a nice little home that she could call her own and furnish it for her.

I would do the same for my kids.

I would bank whatever is left.

Spend about $200,000 of it on my house, new car and a very nice trip. Give the same amount to each of my two daughters. Invest the rest.

sooey

Generally, these days, when you win a million, it's a 20 year payout (at least in the contests I enter). So that's $50,000/year. Not a lot at all.

What would I do with it?

My first 'splurge' would be an appt. with my accountant to get my finances in order so I'd pay the least amount of taxes on the windfall. then I'd:

Put half immediately into longterm investments.

I'd bank the remaining $25,000 until I'd paid the excess taxes on it. Of what was left (probably in the neighborhood of $10,000), I'd put half into savings, and that would give me $5,000 to spend. At this point in life? That would go right onto my mortgage. If this hypothetical good luck happened a year from now? I'd probably put it into improvements for the retirement house.

For sure plan on attending my little sis' 50th birthday in Australia next January.

Put some in savings, spend some on my kids, and fix up this house, without worrying about cost.

Moni

Renovate the yard, replace the cracked patio, sidewalk and the rotten patio cover, remodel the master bath and kitchen. This house is my "new" house in my head, but I have to realize that it is 30 years old.

Pay off all current debts. Give some to a good cause. Fix up the house and yard. Retire.

Take my kids on an unforgetable trip that we'd have to decide on as a family. Maybe a very long cruise to see many places. The kids' education. Maybe I'd sell and buy a bigger house, but just a little bigger in the same area, so we could spread out a little more (6 in house get crowded). We like our life here, our friends, the kids' schools. I don't want to move.

And I'd get the school some things on the principal's wish list.

Buy back the land that we had to sell a few years back. Build a house or get the old one I want and remodel it, and build a barn for my horses and a possum hospital for my possums. Actually new opossum o'partments.

I would like to move to a better part of town and I would take lots of trips to Tokyo so see my grandkids and their parents.

I'd pay off my bills, move all of us to India and open an orphanage for girls. We are planning to do that anyway, but without a million dollars.

I"d give lots of it to Marilyn (and some other "animal folks" I know)........the bulk to St. Judes......

"Generally, these days, when you win a million, it's a 20 year payout (at least in the contests I enter). So that's $50,000/year. Not a lot at all."

Its even less than that if you are talking about "winning" a million dollars. They take the taxes right of the top and then calculate the payout. It's more like $30,000/yr. and then with inflation, in twenty years, that $30,000 won't even buy you anything of importance. Twenty years ago $30,000 could buy a person a very nice home. Today $30,000 will buy a very nice auto. Twenty years from now, you could probably by a really cool, top of the line bicycle for $30,000.

The question was "If you had a million dollars what would you do?"

I would deposit it in a Health Savings Account (HSA). I would feel secure knowing that I had the money deposited there for my health needs when needed. As one grows older there is going to be more and more medical problems. Even a million dollars does not go very far with hospital bills.

Here is a link that might be useful: Health Savings Account

I would spent half and save the other half.

Being older we are lucky to be debt free. I would do a little to our home and set up college accounts for our grandkids. If they choose not to go to college I would set it up so they couldn't get their hands on it until about 25 or so. Maybe in several installments. This much money in a young kids hands is not good..

Having loads of money does not mean a whole lot to us. We are simple people. We have lived in our home for 40+ years and would stay put. Hubby would upgrade to a new truck but I would keep my little one.. I would donate money to the childrens division of our library. I would set it up so they would get so much money each year.

I'd buy a bigger house with a nice yard for the kids to run free and safely in! Our basement or some room would be a playroom and the kids could make a big mess without DH freaking out about it. I'd also have a nice craft room, where I could work on all my stuff (and make a big mess without DH freaking out about it).

I'd give some money to niece & nephew for college funds. Maybe some to our parents to help pay their mortgages?

Then I'd have fun researching and giving some to charities of my choice. Probably small ones that get overlooked quite often.

If anything was left, I'd save it or take a cruise! lol

Don't know before I have it so will you consider giving me the mooola before I tell you???? Please submit million in small bills.. Then I can tell you truthfully what I did with it!!!! Thanks!!!! Mucho, mucho, Gracious....friend...:) LOL

lydia,
I feel like you are my lost twin. I would do the same as you. If I had the money I would start an animal rescue in my own backyard.
Donna

I'd do some upgrades to our house, perhaps about $50,000, give some to good friends who really need it, pay off the house, buy a new car, invest some of it, and give what's left to animal shelters and animal rescue societies and environmental causes (at least $100,000). The last would be the most rewarding of all, other than helping our friends.

Give to charity, pay off the house, take a trip, buy a few things for the house, & put the rest away for retirement. If the house was paid off I'd probably quit my full-time job to do consulting or get a part-time job.

I forgot, I'd give some of it to my dad and brothers too.