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.
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
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.
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.
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.
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
I would stop answering infantile come-ons in advertising from otherwise reputable organizations promising me the possibility of money that i will likely never see and that wastes my valuable time and insults to my intellegence.