What would you do if you won $1,000,000 today?

[tabbycat31]

I'd buy a house outright (~400K in the area I like)
I'd buy a new car (~20K)
I'd pay some towards my parents mortgage to the legal extent of the tax laws (gift is 12K each, so I'd pay 24K on principal)
I'd set up 529 plans for each of my cousins (again to the extent of the legal amount)


I'd donate about 10% to a local animal shelter that really needs the $$, and then I'd invest the rest. I would not stop working

[usnavy_233]

Ok, more seriously. If I had the whole 1MIL here's what I'd do.

10% to Church (100K)
Pay off my debt (250K) (This includes mortgage)
Give money to parents to help with there debt/retirement (50K)
Set up college/retirement funds for both toddlers (100K [50K a piece] )
Fund investment account (50K)
Fund high yield saving account (50K)
Fund retirement account/annuity/etc (400K)

What I would NOT do:
Spend a bunch on BS junk
Quit my job
Tell everyone that I now have 1MIL

[Harrison]

Good question! Your question make me understand that I never plan to receive such a big amount of money... nevermind let me plan it now.....

I will put it in a saving account with 5% interest rate and earn $50000 per year or $4000+ per month which is more than enough for me to be financial free!

[Coleroo]

Im 24

I would

1. Pay off my parents house (they're in their early 60s) = 20k
2. Buy my dad a decent truck and my mom a decent car = 5k each
3. Pay off our house = 80k
4. Pay off our cars = 12k
5. Put away for future kids education expenses = 100k
6. Buy my husband a mustang and me a lexus SUV with GPS (:-D) = 50k
7. Pay off CC's = 3500
8. Donate 100k to my church & charity
9. Give my husband and myself 50k each to spend
10. Put the rest in long term savings

[dcox20]

two words...

CANDY

VIDEOGAMES



really though - with the $600k after taxes I'd invest it all - 75% in long-term and 25% in something more liquid and usable