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- Re: What would you do with a sudden windfall of mo...
What would you do with a sudden windfall of money?
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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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@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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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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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.
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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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.
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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