What would you do with a sudden windfall of money?

[AARPLynne]

What would you do with a sudden windfall of money?

[downtowngbrown]

I am a kidney dialysis patient suffering get through End Stage Renal Disease. I can't work and my wife had to take a low paying job to help us meet our financial responsibilities. I'd pay off bills and take my wife on a cruise she has always dreamed of. The rest would replace the rainy day fund we drained.

[lm6237]

I would pay off debt. Rehab a long overdue kitchen. Restore a family home in Texas so all my siblings could be together when we visit.
Pay my tithe and help my hometown church. Most of all, be a blessing where I can.

[ds47428639]

Pay off bills!  To live a debt-free life would be heaven on earth.  Travel.  Give to charities, family and friends, at my discretion.  What a wonderful dream. Doesn't hurt to imagine it just in case! 

[dm5062]

50,000? I would save 1/2 and spend 1/2. Gets me just a little closer to retirement.

[doesla]

Definitely pay off college loans.

[lh135]

I would scream and dance. Thank God !

I would give  to my family and friends that are having a difficult time

with the their money.

Give to the cancer society

I would make sure my grandchildrens college money would

be in a secure place for when they graduate from high school

Finally I would invest and take a vacation on an island. YEs!!!

[janewilley]

Pay off my mortgage

[dt9715]

tithe by helping somebody and lifting them up. Payoff our house so we would be able to live in comfort the rest of our days. They call it the golden years but I have yet to see that. You can save, you can try to do your best,but at the end of the day it is the same old thing on Social Security---you are broke. And you are blessed when you find something where you can make extra money. Well enough of my crying. Thank you for this contest

[drawpoker]

"And you are blessed when you find something where you can make extra money. Well enough of my crying. Thank you for this contest"

_____________________________________________________________________________________________

Contest?    

This is a contest?    

What's the prize? 

How do I enter?      

[lisaw64]

I just filed bankruptcy I would pay that off completely. Then save for retirement!

[chrisarndt58]

Invest it for retirement

[pa2869]

Use it with the money from the sale of my current home to relocate to a retirement community.

[carlaallen2]

Pay off bills, take care of home/vehicle repairs that are way over due and stop putting off some dental work that has needed done for years. It would just be nice to stop going in the whole between EVERY paycheck.

[artstenn]

Well, wife and me are out of debt except for a used truck payment.  We ditched the credit cards several years ago and recently I closed the Amex card.  I would use the money to get some acreage and a barn for my wife who is a horse owner.  Currently we are boarding the horse and renting a place to live.  We were homeowners for almost 30 years but sold in 2010 and haven't done another house since we both changed jobs a couple of times and can't prequalify yet.  I would also give some of it to our church.  The church supports local and overseas charity.  It would be nice!

[drawpoker]

from artstenn: 

".... ditched the credit cards several years ago and recently I closed the Amex card. ...... Currently we are boarding the horse and renting a place to live.  We were homeowners for almost 30 years but sold in 2010 and haven't done another house since we both changed jobs a couple of times and can't prequalify yet......."  

______________________________________________________________________________________________

May I ask    -   Just  How do you expect to pre-qualify for a mortgage if you ditched/cancelled credit cards?  Rent,  utility accounts don't even go through  the credit bureaus usually. 

Even if you have some active installment loans you still need revolving (credit card) type debt and payment history to satisfy mortgage loan credit score requirements these days. 

The Length of the time you have held those credit cards counts about  30% - 40% of your score.  

[ll5861]

Get out of debt!

[EveRH]

THIS PERSON PROBABLY INTENTED TO RESPOND TO A DISCUSSION STARTED BY AARP ON THIS SUBJECT .. BUT IT WAS POSTED WITHOUT BEING CONNECTED TO THE ORIGINAL DISCUSSION. AS I EXPECTED, ALTHOUGH I POSTED THAT, ANOTHER PERSON RESPONDED HERE, INSTEAD OF THE ORIGINAL DISCUSSION. CAN YOU PLEASE MOVE THESE 2 POSTS TO THE ORIGINAL DISCUSSION, SO THERE AREN'T MULTIPLE PARALLEL DISCUSSIONS ON THE TOPIC!

Link to post: (What would I do with a sudden windfall?)
by bm2690

http://community.aarp.org/t5/Retirement-Planning/What-would-I-do-with-a-sudden-windfall/m-p/1370756#...

<P>First, I would make a sizeable contribution to my church, then clear any outstanding loans. Next would be to buy a dependable used car. &nbsp;There are several great charities in my area that always need assistance. &nbsp;It would be so rewarding to help in an anomous way some needy person to regain their independence.</P>

This message has 2 replies

[jo1021]

I would feel so secure and not have to depend on my family to keep me going. I am thankful that I have Social Security.

[ts59764314]

I would get my car fixed, put some money in my bank account and help my kids buy

their own condos or homes. Repair my home and help the homeless and hungry people.

USE IT AND SHARE IT .

[peanut0213]

I WOULD PAY OFF MY CREDIT CARD DEBT AND PUT THE REST IN MY IRA

[ss4579]

My husband has Parkinson's Disease and will need to be in a wheelchair soon.  We would build a bedroom and bathroom onto the first floor of our house so we can stay in the home we love so much.

[nb8477]

I save some for a rainy day. spend some on my wife and myself.

[JimmieKitchen]

It would be a miracle windfall for me.. i have two school age grandchildren that live with me. Like all kids their age they are constantly involved in school and in need of money not in the budget......

[edwardronaldhulbert]

Pay down our mortgage and other bills.

[jeaniefrank]

Invest. Give to those in need of help,







iNVEST,


BE A BLESSING TO THOSE TO THOSE WHO ARE IN NEED. TRAVEL










TRAVEL

[eg4643]

We are raising our three beautiful grandchildren so the money would surely be used for them.

[dar007]

I'd pay off credit card debt........

[EveRH]

Somehow you created a new Discussion, and your post isn't connected to the original one about "receiving a windfall". You can cut & paste your response into the main Discussion .. then delete this separate one, so it doesn't result in multiple parallel discussions on the subject!

[dar007]

Good for you! Sounds like a good plan & honest answer.