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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

Not sure how much money a windfall would be but I would donate most of it to my non profit, Children's World of Music. We need a facility be able to start offering services to the children who would most benefit as well as pay for instrments, materials and music instructors, coaches and tutors. If there is any left after that, I'd like to take my dream trip to Italy and look for some good investments. 

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Periodic Contributor

It would depend on how big the windfall was.  I would invest and save most but if it were large enough that I could afford a fun vacation, I would do it.  Or if I were able, I might think about changing residences.  

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Contributor

First, I have to Give to my Church and Pastor. Secondly, I would payoff all my debts and go back to school and finish my Masters and PhD degrees in Domestic Violence Counseling. Thirdly, I would give some to my 4 adult children and set up accounts for my eight grandchildren. Finally, I would give to organizations that help those words need it most - St. Jude Children's Research Hospital. Whatever is left would be for me.....if nothing is left, I will still be happy☺

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Contributor

First, I would buy my husband a motorized scooter.  That would allow us to go on trips and we would be able to enjoy it together.  Right now, we do not have insurance and this would help us a great deal.  He has post polio syndrome so many things are getting harder for him to do. This would allow him to retire.

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Super Contributor

I would buy a smaller newer home, invest, and then continue to live the same way I do now. I travel occasionally, help at our local History Center and knit hats for chemo patients. I would support those activities and also our local Library.

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Periodic Contributor

Pay off my grand daughters college loans.

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Conversationalist

If the windfall is large enough, I would retire all debt. Then I would try to live the rest of my life free of financial concern.

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Periodic Contributor

Spend it!

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Periodic Contributor

I am in the process of paying off the 3 mortages and an equity loan. This way my sons will not have to sell every hting when I pass on. I would take a windfall, pay the Huqúqu’lláh on it, then wipe out what I could with the remaining 81%.

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Periodic Contributor

If I had a windfall of money, I would give 1/3 to all the animal shelters, 1/3 to my church, 1/3 to the food banks and the rest of the money I would pay my bills save a little.
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Contributor

Pay off student loan. Give some of the money to charity. Help my childrens. Pay off mortgage. take a trip. Update my car.

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Periodic Contributor

Since this conversartion is about 2.5 years old, it is stale data, and so, no relevance.  

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Newbie

I would start a community farm!   I would allow the community to have access to fresh vegetables, fruits, eggs, milk, and herbs.  I would raise cattle, chickens, bees, goats, and pigs. I would have volunteer help from our community.  I know with the support from neighbors and schools we could make the community farm a place for kids to learn the importance of good foods and how to improve their future. I would have a pond and teach irrigation and soil quality.  Learn how to live off your land, one dream I wished I would have followed from my grandparents!

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Newbie

Pay off what's left on the house, the cars and bills.  Then divide the rest among our daughters and their families for the grandkids.

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Contributor

I would go directly to a financial advisor to make a plan. 

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Contributor

Buy real estate or something tangible like gold.

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Newbie

Of course I would pay off our debt first, then I would get both of our cars fixed.  We haven't had air conditioning in our car for almost two years.  We live solely on social security so trying to save enough to have it fixed is impossible.  I know we will never have enough to fix it so we have just learned to live with it.  Also, if we did get a windfall there are many things around our house that need fixing.  The front steps are falling apart and we need a couple of new windows.  It's always something.  

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Periodic Contributor

Pay off our home.  Hurricane Katrina did damage to our home so a new mortgage was needed.

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Info Seeker

Making my retirement funds stretch each month is proving to be difficult. I worked and raised 4 children on my own and have nothing to show for it, nothing to leave to my children. If I were to get a windfall it would go directly into a savings plan!
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Contributor

If I had a sudden windfall of money the first thing I would do is to seek out an attorney and a financial advisor of whom I would trust, then go from there. Never touching the principal so I can pass it down the line with strict conditions so it will continue to grow for my future generations.
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Conversationalist

Being debt-free, I certainly would not go out on a spending spree as so many would.

 

If I had debts, I would pay them off and put the rest away.

Alex
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Trusted Contributor

Help out others less fortunate than myself, give to charity, put some in stocks, get a new home and car, put some in savings, and start a business. 

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Contributor

Travel to places I've wanted to go, but also, I have several charities and needy situations which I would like to help with donations.

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Periodic Contributor

If I had a windfall of money, I would give half to the Wounded Warrior Project because my husband served overseas to protect our country.  Praise God he came back in one piece.   1/4 to my church, and 1/4 to other animal shelters, and if there is any left over, then I would pay off some bills.  Right now my grandson is in the marines somewhere overseas.  I pray that these men and women who are fighting for our freedom will come home soon.  Dear Jesus, I pray for all of these brave men and women, keep them safe and bring them home safe.  Amen. 

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Contributor

Provide funds for my grandhildren college fees
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My family members are in need of help, and I would, in a reasonable way; help them with their finances. I use the term reasonable because some family members, are unique in there spending habits which would constitute helping them in different ways. I am a member of a Bible Believing Church, and I could be a great help to them with their finances. I regularly give to charitable organizations, especially the Salvation Army; as well as other charitable org.s. In final, I give anyway to charitable and helping other people, but acknowledging "THE LORD" should be at the top of the list. Chances are, in my opinion; if I come in to a lot of money, it's because HE allowed it to happen!  

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Contributor

I would divide most of the money between my children so they could buy or upgrade their homes. Some live in Seattle, a very high market, oe of my children is still in school and will graduate in 2016 and another lives in under 800 sq. ft. (darling) house, that the kitchen needs renovating.

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Contributor

Depending on how much the "windfall" is, I would help family and friends pay off debts (I have none), start trusts for some family members, give more to charities, then invest the rest.

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Newbie

I would get a fincial adviser so I didn't just go through the money. I'd like to help out my family. But what I'd really like to do is take my whole family to England so they could meet my relatives.

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Newbie

As much as I'd love to remodel my home and take vacations, I did get a small windfall and paid off all debt. It feels good!
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