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What would you do with a sudden windfall of money?

What would you do with a sudden windfall of money?
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I live on a fixed income would love to fix up my house and help my daughter  and her sick husband I have been  divorced for 27 years I could use some help.Thank you Geraldine Barth

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Contributor

Invest it for younger family members who may not have socialsecurity when they retire.
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I would give some to my church and invest in my grandbabies future and give to some of those in need.

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Regular Social Butterfly

It would mean making my dream of living in Mexico come true!  With the sudden money I could buy a franchise with one of the major drug cartels.  Set myself up in a steady business.  Live in a wonderful climate year round  Go shopping at the Walmart's in Guadalajara.  And do my part to keep the supply of limes coming into U.S. stable and hold down price fluctuations.   Have always dreamed of owning the very best assault rifles & other automatic weapons.  Getting into this line of work with the cartels would seem a good training ground.  Opportunity for advancement. 

 

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Travel.
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My wife is in charge of spending.  I don't count my money till I get it. Should we be fortunate enough to win it, we will find a way to use it & enjoy it.

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@AARPLynne wrote:
What would you do with a sudden windfall of money?

I would move to a beautiful little village on the lake and spend the rest of my life there.

Joan


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I would finally be able to put a little something away for my retirement. At this point I will have to work far into my retirement years.
That would surely set my mind at ease.
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Regular Social Butterfly

Would take ten million dollars,  put in escrow account,   to offer a reward for anyone who can prove D.B. Cooper is still alive.  If any money is leftover,  give it to D.B.   

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Buy a brand new, energy saving, sub compact car, pay off the plastic & reinvest the rest into savings

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A sudden windfall of money would ensure that I would help take the fear out of retiring away.   Even though I will still retire, it is a scary decision and scary to think of what could happen if I do not plan this very carefully.   Of course paying off debt and/or my house is very critical, a windfall of money will help ease the transition to retirement. 

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I would start a small emergency fund of $1000.00 and then start paying off bills until the money runs out and then work to finish off paying off out debts. Once that is completed, then I would save for retirement.
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After tax there would be enough to pay off all of my bills as well as those of my son.  I wouldn't mind as he's shown himself to be a responsible as well as a resourceful young adult. 

 

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repair my 88 year old bed ridden mother's house so she can live the rest of her life comfortable without getting rained on.

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1)  Consult an elder law attorney

2) Ask for protection of my lifetimes savings/IRA of $43,00 + my husband's remaining $20,000 IRA.

3) Explore options on how best to invest, title or retitle so anything we have may be applied to the

    widow or widower instead of a nursing home.  

4) Decide how much to apply to the outstanding mortgage debt which is approximately $45,000.  

5) Deposit about $3,000.00 into the local bank account to cover big expenses related to our condo, 

    car, medical/dental expenses.  

6) Purchase $500.00 in gift cards at local restaurants. 

 

 

   

 

 

 

     

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I would use it as a down payment for an investment vacation rental property for an additional income stream for retirement.

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I would first hand pay my tithes and thank the Lord for sending me the much needed blessing.  I would pay off a boat load of bills my husband of twenty left me with and get somemuch needed repair work done on my home.

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A question I have given thought. I help care for my 5 yr old grand twins who will be attending school this year. First would be a car for grandma. A financial advisor to explore options for a life of security for my family. Love to buy a large piece of land and build homes for my mother. Brothers my daughter and of course myself. and as always help where ever I can in the community.
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I Would Fix my house & Outbuildngs ...then if money left would get a decent used vichle...bonnie.koscinski@yahoo.com....

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Wouldn't be in debt
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I would pay off my debts give to my church and my old childhood church and give some to charity and envest the rest.


@AARPLynne wrote:
What would you do with a sudden windfall of money?

 

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I would pay off my debt and in future buy only what I can pay cash for.
Would give my wonderful son a good gift and a donation to furkids
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First of all...i would really take time out to write down all my thoughts...come up with a plan...most of all say a long prayer to jehovah to help me to keep balance on how to spend so i wont get back in the same situation of over spending on things that is not mecessary...

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I would pay off my house and get the plumbing fixed.
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First I'd pay my bills off. Take some time off from work and get to know my grandkids and great grandkids again. I've had to work so much I don't know them and they don't remember me.
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Periodic Contributor

If I had a sudden windfall of money the first thing I would do is cry from utter relief that help has arrived. When our daughter was born 20 years ago with a large facial tumor & Juvenile Arthritis our world was turned upside down. I gave up my career to care for her and we have struggled ever since. She has had 12 operations to date. At 53 years old with 2 mortgages, medical bills, debt & no retirement, we cannot even think about what the future has in store. I couldn't afford proper dental care & need 3 implants or I will lose my teeth. We don't qualify for any assistance because my husband makes too much as an electrician. Just 3 weeks ago our 13 year old, 5 lb poodle dislocated his shoulder & last week I had to have emergency surgery to remove my gall bladder. In 20 years I have never used a babysitter or spent 1 night away from family. We have never been on a real vacation and I have not seen my Mom in 8 years since we moved out of state due to our financial situation. I pray every day that things will work out. A windfall would be a miracle for our family. We could get out of debt, I could save my smile & just breathe a sigh of relief. It's nice to dream.

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I would buy a house since I am living in a 1bedroom apt where I have my family of 10 staying with us I'm running out of room
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First and foremost!!! Airline tickets to Chicago. My Mom will be 85 on June 23rd and it just costs too muche to get there from Las Vegas. Mother in law needs a visit as well because she will be 87 on her next birthday.  Also have a daugter in Atlanta who could really use a car and a push to at least get a college degree on line..  I would love to pay for her first year if possible and one more thing

Know of an elderly couple right here in Vegas that could use some financial assistance. We would love to just be able to help....

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I would pay off my children's student loans, pay off the mortgage on my home, and give money to charity - specifically Smile Train that provides cleft palatte surgeries to kids in third world countries.

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