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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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Contributor

Most for savings, some for charity and some for family---maybe a nice dinner out.

Honored Social Butterfly

Since we're doing well already, I would start shipping monies over to family members.


"...Why is everyone a victim? Take personal responsibility for your life..."
Contributor

would definitely travel. would take friends with and kids with. would make the life a little more easy going more my kids. would definitely make a list of the people to be included and those excluded who may come out of the wood work. As in every family there are people who I have not seen in a long time. My thoughts are, if they didn't love me when I was poor they don't really love me when I am rich!
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Newbie

lol
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Newbie

can you adopt me! LOL 🙂
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Newbie

Take my family on a month's vacation to France.

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Regular Contributor

 

First of all a ‘windfall’ of money would be as likely as getting struck by lightning.  There will be no inheritance as I have no money in my family…we are all workers though…worker bees I guess you could say….but a very happy group.  Our children have all gone to collage though.

I never got the opportunity to go to college and by the time I got older I tried to go back…during the crash actually…but it was far too expensive and I was just too darn old to go that deep in debt.   I have sort of come to terms with my poorness…so I won’t ‘dream’ too hard.  However, if I were to come into some cash I would buy myself a house and pay cash for it.  Get a Roth IRA and a few more investments, set myself up for a comfortable retirement….then take the vacation of a lifetime with all my adult children.  

Conversationalist

Returning to the books is very difficult, even after being out of school for one year; and the longer that goes on, the harder it gets. Hitting the books has been out of our routine for a while.

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don't want to own anything now at my age. too easy pick up the phone and let the leasing agency know if there is a problem. I have adult children and would provide an extension of my windfall to them after setting myself up with a comfortable monthly income. I would definitely subscribe to monthly donations for several charities involving children and animals
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that sounds just like us, we will be working the rest of our lives, but if I received a windfall I would make my retirement safe and sound and have my children share what we got
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Newbie

If I received a sudden windfall of money I would first of all pay off all of my debts, medical, student and delinquent credit card. I would give a significant amount to christian ministries abroad, I would give some to family members and I would give to the poor. I would save a small portion for myself.

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I was forced out of my job because of Parkinson's and two back surgeries.  I am now on social security disability, which is not quite enough to pay the bills.  I just turned 65, so I'm now on Medicare.  So, sometimes I have to decide that a doctor's visit or picking up prescriptions will have to wait till I get my next payment of soc sec dis. or my next payment of my savings.  My family, the few of us who are left, are all in our late 60's or 70's now.  We went to college, even grad school, but when I was looking for another job in 1996, at 46, I was too old my doctorate was too expensive in the eyes of employers.  My family doesn't have any money either.  So, what I would do with a windfall:  split it among my brother and 3 cousins.  Find a really nice assisted living facility and move in, not having to worry about losing my savings in order to get some help from Medicaid.  I won't have to worry about running out of money before I run out of life.  I would leave the rest to charities, including HSUS and ASPCA.

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Honored Social Butterfly

I've had that experience. The first time, it allowed me to retire way early, when I became a caregiver & was burned out at work already. The second time, it insured a secure & comfortable retirement, and the ability to be more philanthropic. Since I have no siblings, spouse or children, I consider myself just a steward of the windfalls I received, and expect to leave it all to charity in the end.


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Contributor

I would pay my mortgage down seeing we are losing our house of 20 year , laid off 3 yrs ago and cant catch up , this was our home for my family to come to when ever they wanted to , so its a real loss for all of us
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Regular Contributor

I am happy that you have had this windfall not once but twice. 

Charties are a noble thing to do in the end but until then have you consider "paying it forward" ?

It is a good feeling, just a simple thing like paying for the coffee for the person behind you.

 

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That is very nice of you poster.. That is the only thing I think about when I enter contests, or buy a lottery ticket. Hoping to win to get me out of the hole then help everyone I can!! Animals too! 🙂
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pick me!!!!!!!!!!!!!!!!!!!!!
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You are a very special individual. I admire your selflessness and altruism. Always walk with the great spirit.

Contributor

Find a better facility to take care of my husband.  Medicaid is helpful, but it left us with half of what we started with.

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find the absolute right facility for ME
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Newbie

I would tithe to my church, pay off my house, set up a trust for my relatives, and travel.

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