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January 2013 Moms
CocoR04
member
NBR: What would you do with $550 million?
CocoR04
member
A lot of people are buying lottery tickets today in states that participate in the lottery... we bought a couple tickets for fun! What would you do if you won $550 million?
I'll start: First, I would call an attorney. Then, I would pay off all of our debts and our immediate family's debts, quit my job (nicely), and concentrate on spending a ton of quality time with LO. Future money would go to long vacations, buying other homes, college tuition for all the kids in my family, and giving to charity. I would also look forward to sharing the good fortune with our friends and family... pretty typical response, but that's what I'd do!
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Re: NBR: What would you do with $550 million?
Didn't even think about the plastic surgery. I'd totally pull a Kate Gosselin!
We bought a couple tickets as well.
We would pay off our house. Finish our basement, put granite and tile in our kitchen, extend the hardwood from our entry to our formal living and dining room, and do a little redecorating. We would buy a new car to replace my 2 door car. Probably have more children since we could afford IVF if we need it for the next one. Start a fund for our children. Travel to Europe. I would quit my job. I would pay off my two uncle's debts, pay to have my aunt's house remodeled, start a college fund for my two youngest cousins and our nephew, when my 2 other cousins and my brother got married buy them a house, pay off SIL and BIL's house, remodel my grandma's house, send my parents to Bora Bora and buy them a few things for their farm, send my IL's on a trip, go to grad school, DH go to grad school, pay for IVF for a close friend, help out a friend with her legal bills from a custody battle, and give some to charity. Invest/ save the rest.
I would start by paying off my current house and buying a new one. Like, tomorrow.
After we got settled I'd figure out what to do with the rest
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I like Warren Buffet's theory on raising kids. He was a millionaire but raised his kids as though they were middle/lower class. He made them get jobs in high school and buy their own vehicles. His kids didn't know that they were rich until they graduated college and got their trust funds.
My parents also did this with me. I started babysitting when I was 12 and at that point I bought most of my own school clothes. My parents would buy us one outfit and that was it. My mom frequently said we couldn't afford the things we didn't need and we didn't go on a lot of vacations (I always thought it was because we couldn't afford it) maybe 3 the whole time I was growing up. Come to find out they were simply busy paying off their house (they paid it off in like 10 years), saving for our college and putting back for early retirement. My parents are 45 and 47 and can retire whenever they want. My mom's goal is 50 but I doubt my dad will be willing.
Henry Cavill...You're welcome!
BFP #3: EDD 1/10/13 **DS born 12/30/12!!!**
BFP #2: MC 7/2/11 @ 12 weeks
**Missing our February '12 LoveBug**
BFP #1: MMC discovered on 12/6/10
I bought my first tickets tonight. I figured it couldn't hurt.
First, I would pay off my debts, and my family's. I'd buy a nicer house and a new car, buy my family new homes and cars. I'd quit work and give my coworker money so she could quit as well. I'd make sure my family and friends are taken care of. Then I'd donate to my community and charities. I think I would buy a bowling alley (always loved bowling) and run it. I'd definitely hire a maid because the new house would be much larger than my current home.
I would call an attorney first. Then quit my job. Pay off the house we live in now and buy a bigger one further down towards the south of our state. I wouldn't do anything super crazy though. I'd really just want to be able to stay home with my kids and not have to worry about working.
I love this!! It's how I was raised too. I wish more people were like this.
LOL I love the "call an attorney" first. True!
We would of course hire a CPA immediately. Then, in order:
-Pay off all of our debt, completely
-fund a 6 month emergency fund
-Invest a few million (10-15 maybe?) and plan to live off the interest
-Family vacation!!!!!!!!!!!!!!!!!!!!!!!!
-Comfortably fund retirement and college funds
-Plastic surgery for me, including boob job, tummy tuck, and laser eye surgery
-New cars for DH and I
-Help immediate family with any financial concerns (although I don't think anyone really has any right now-it's just us lol)
-Buy a reasonable house
-Give SEVERAL million to charities
-Keep a few million around just to charitably give whenever I wanted. Things like "oh, girl scout cookies-I love those. Give me a box of thin mints, here's a `$100 bill...keep it"
"that mom of 3 behind me in grocery line looks like money is tight....let me just put her grocery bill on mine" that sort of thing. That would give me more happiness than I can even explain!
I am one of the few that would actually probably keep working. While my job is stressful at times, I love what I do and wouldn't stop doing it just because we had money. I would keep working to fund my maid service lol!
Plus then my income could be just for playing and vacationing. Besides being debt free and having a maid though I wouldn't really want my kids growing up thinking we were rich so we would maintain a pretty normal lifestyle.
Oh man - so many things! DH and I would buy a nice house, pay off all our parent's homes and debts as well as our own, buy new cars (goodbye 2001 Saturn! lol), hire an interior decorator for the house so it's crazy nice inside and out, pay off DH's sibling's college debts, quit my job and travel everywhere, invest so we never run out of money, I would get Lasik and a nose job and also buy myself a completely new wardrobe at stores I could never even dream of shopping in now, give lots of money to children's hospitals and community charities.
It's such a crazy amount of money, I'm sure I could think of plenty of other things to do with all of it! It would be very overwhelming to have that much suddenly. But it would also be so nice to be able to take care of all our families and help out our friends.
I'd buy a house and a car.
I'd buy my mom a nicer house.
I'd put at least $100,000 aside for college for the kids.
I'd definitely go back to school myself since I wouldn't have to worry about childcare!
And probably open some sort of business.
Honestly, I think my count is still under a million lol.
The bold things
We would have to move, we live in too small a community so we would buy a big fancy RV with a driver and a private tutor for ds then we would drive all over the country and when we were done, decide where we liked best and thats where we'd move. We'd also buy houses there for our families so we didnt have to leave them.
I'd have a trainer and a cook to get me back into shape after baby so that I could go buy a new wardrobe once Im back to my regular size.
I'd be a really good tipper.
Id donate a bunch.
I definitely wouldnt go back to work but I would do volunteering.