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Re: What would you do with a sudden windfall of money?

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Message 611 of 737

Give it to charities, pay morgages, buy my husband a new wheelchair

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Re: What would you do with a sudden windfall of money?

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Message 612 of 737

When my windfall of money comes to me. I would be so generous with my family, friends and people and dogs. I would also be very generous to the people not as lucky as me. Homelessness, poverty would not be in our vocabulary.

 

SIncerely,

Michelle

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Re: What would you do with a sudden windfall of money?

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Message 613 of 737
It depends on what you consider a windfall. A couple of weeks ago I had a young lady hand me $5 and said "You left this at the counter." I was dumbstruck and pocketed the money. I realized as I was driving off that it couldn't be mine since I always pay with the Starbuucks app. The next day when I came back, I left it in the tip jar. Here are what I consider the levels of windfall and whaI I would do with it:

$100 - Dinner at Ruth Chris Steak House. Been there once for a fantastic dinner.
$1,000 - Put in the bank and spend it on Christmas gifts for the family.
$10,000 - Buy my recently divorced daughter a new car.
$100,000 - Pay off my mortgage.
$1,000,000 - now we're talking windfall. Pay off all bills, buy a new house in a better neighborhood, gifts to kids ($100,000 apiece)
$10,000,000 - I'd do the above but increase the gifts to a $1MM each. The remainder would be set aside in a trust to provide future legacies for the kids and grandkids with $3MM to create a family foundation to give anonymous gifts to people in need.
$10,000,000+ - This is a point where the more money available doesn't impact my actions other than to proportionally increase the legacies and gifts.

The idea of a windfall causes each of us to focus inward on our own needs until we reach a point where we feel "satisfied" and begin to focus outward. I think is what most people would. There are certainly exceptions to the rule (e.g., the celebrity who doesn't tip), but I want to believe we are all basically philanthropists waiting for a "windfall".
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Re: What would you do with a sudden windfall of money?

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Message 614 of 737

I would first pay off all my husband's school loans.  Next would be our home and vehicle - pay them off.  Then I would do any remodeling that needs done on our property.  If there is still funds left, I would see that each of my kids has a new vehicle to drive.  After that, the rest would go in the bank.

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Re: What would you do with a sudden windfall of money?

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Message 615 of 737

I would pay off any debt oweake ad and finally after 30 yrs together and 15 yrs married

go on a long beautiful peaceful honeymoon to Italy.

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Re: What would you do with a sudden windfall of money?

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Message 616 of 737

divide the money up between retirement accounts, debt payoffs, home remodel, oh, and some enjoyment-trip to Hawaii or the east coast.

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Re: What would you do with a sudden windfall of money?

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Message 617 of 737
sunday46, I am sorry you are in the spot you are in, I'm right there with you. I have no one or no money to help me either. Maybe we will be lucky some day, too!
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Re: What would you do with a sudden windfall of money?

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Message 618 of 737

Finish the addition we are putting on our house. Pay off our mortgage.

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Re: What would you do with a sudden windfall of money?

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Message 619 of 737

Donate some money to help out charities within the community...then take my family on a well deserved all expense paid trip (Hawaii?)

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Re: What would you do with a sudden windfall of money?

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Message 620 of 737

Buy myself a decent car, fix up my house a bit.  Put the rest in a 401K and use some of it to help out other people.  

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