Babies: 3 - 6 Months
With Mega Millions on the brain...
Assume after taxes you have like 125 million left. What would you do?
1. I wouldn't tell ANYONE! AT ALL.
2. Speak with a high end firm that deals with millionaires all the time.
3. Set 10 million aside for retirement/safety net.
4. Put 20% aside for family (trust for college funds for my lil bro, sis, and cousins)
5. Pay off debt/student loans.
6. Buy a home on a lot of land.
7. Put $ away for my kids college.
... then I have no idea...
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Re: With Mega Millions on the brain...
Not telling anyone is a good idea, but I would buy a house and a new vehicle with it and my parents would wonder where the hell I got that money from!
I would do basically what you all said, and then travel. That'd be fun!
Oh, and be a SAHM.
I would buy a home ... we live with my parents right now (small home 3 bedroom 2 bath something we can redo a BIG kitchen , my SO is a chef , but something that looks just like a normal house from the outside )
I would pay my moms morg off
I would pay my MIL morg off
Buy two SAFE cars
Go on ONE really BIG shopping spree
Then I would sit at home and watch Lifetime movie network everyday like I do , if my SO wanted to work he could if he didnt he wouldnt have to , and we would take one AWESOME family vacation every year .
Here is a link on how much $$ you would get https://www.usamega.com/mega-millions-jackpot.asp
I would spend it on tons of stuff. Trips, new car, new house, my parents, my siblings, ect.
This is pretty much what I would do. Except I would split my dontion between MD Anderson and Texas Children's.
Side note - where do y'all go to church?
You are awesome!
1.) Plan for the future!
2.) Set up trust funds for DD's and her potential siblings
3.) Pay off student loans and get my masters debt free.
4.) Be a SAHM and home school my children.
5.) Put my parents and parents-in-law into early retirement
6.) Travel!
7.) Champion a non-for-profit
I would also love to open up my own HR consulting firm that allowed me to work from home (I love to work...). I want to build my own house on my husband's family's land. I would LOVE to buy back land that has been in the family for a while and protect it so that my children will have it when they are old enough to appreciate it.
With that kind of loot, I would:
1. Pay off/buy homes for mine and DH's immediate family
2. Buy us a house
3. Put money aside for college funds for LO and my niece and nephews
4. Put more aside for retirement.
5. INVEST!
6. SAHM is a given
We've actually talked a lot about what we would do. Ha!
1. We would pay off all of our parent's debt and give them some money so they could retire. Both sets of parents either lost money in the stock market through their 401Ks or have just not been lucky in business and haven't been able to save up enough to retire yet. And they are getting close to 60. We haven't determined a final number, but I think it's around $5 million for each set.
2. We would also give about $1 million to each of our siblings (we each have one sister).
3. Pay off all our debt (obviously) and move to TN or somewhere we really want to that would be in between our families.
4. Buy a vacation home in Akumal, Mexico where we went on our first trip together after dating three months.
We actually called it our fake honeymoon not knowing that we would get married a little over two years later.
5. The normal stuff... travel, buy an awesome but not crazy house and car, go shopping, establish a trust fund for our son.
6. Just have FUN!
I would love for it to happen, but realistically, we just want to make enough money to be comfy and for me not to work. We want to get involved with Chik-Fil-A. They are an awesome company with so many perks. That's our dream actually!
Good idea about Texas Children's too! We normally give to MD Anderson and St. Jude's, but I really like to give locally, so we give our larger contribution to MD Anderson. I really need to start giving to Texas Children's as well.
St. Luke's United Methodist Church.
1. I wouldn't tell anyone either.
2. Seek advice from a financial advisor and plan everything out so that we are set for life.
3. Pay off mortgage, debts
4. Buy land and build an eco-friendly house
5. go on a trip and set aside money to either go away each year, or buy a vacation home.
6. Pay off siblings debt and parent's
7. Buy newer vehicles
8. Get a personal trainer so I can stay in super shape to live a long life and enjoy all of the money.
9. Donate money to various places including my church and alzhiemers foundation
10. Set aside money for the kids (DD and any others we have) college and future
11. I would probably volunteer a lot because though I love the idea of not having to work... I think I would go a little stir crazy being home all the time
1. Pay off DH's debt (I have none!)
2. Buy a big (but not too big) fancy house
3. Pay for my sister's college tuition
4. Put aside a large chunk for LO for college and miscellaneous neccessities
5. Pay for me to go back to college and get a Master's
6. Put money aside for my parent's retirement funds
7. Buy my parents a new house
8. Give a lot of it away to my other sister and her family
9. Donate to March of Dimes, St Judes, and the International Stillborn Alliance
1. Pay of DH's debt including student loans. (I have none either)
2. Pay off MIL & FIL debt. We owe them for letting us live with them till DH got a job.
3. Buy a house.
4. Buy a new car and truck.
5. Put away for DS & our future children's college.
6. Savings
7. Donate to the Esophogeal Cancer Research in honor of my grandpa, Breast Cancer Research in memory of my great grandmother, Ovarian in memory of my grandmother, Cervical cancer research from myself and the Diabetes research for my 15 year old brother.
home, car, college
i'm simple haha
1ht
even if you don't tell anyone... your banker, investment banker and financial planner's firms will sell your info to other high-end companies (assuming you're 125mil is liquid). Technically, this is illegal, but it's standard practice in the industry. Within 6 months, you will mysteriously start getting calls/letters/visits from bently/ferrari dealers, high-end architects/designers, private jet shares, alumni associates, etc. etc. etc.