Money Matters
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Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
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Thank you.
Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
GTKY: Lottery
If you won the lottery what is the first thing you would do?
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Re: GTKY: Lottery
I am going with a 1M scenario
Throw my birth control out, finish saving e fund, buy new-to us 2014 Ford Focus, have a 10k baby fund, max out retirement, cruise to Alaska, 5k each in blow money, and invest the rest.
Love: March 2010 Marriage: July 2013 Debt Free: October 2014 TTC: May 2015
TTC since 1/13 DX:PCOS 5/13 (long, anovulatory cycles)
Clomid 50mg 9/13 = BFP! EDD 6/7/14 M/C 5w6d Found 11/4/13
1/14 PCOS / Gluten Free Diet to hopefully regulate my system.
Chemical Pregnancy 03/14
Surprise BFP 6/14, Beta #1: 126 Beta #2: 340 Stick baby, stick! EDD 2/17/15
Riley Elaine born 2/16/15
TTC 2.0 6/15
Chemical Pregnancy 9/15
Chemical Pregnancy 6/16
BFP 9/16 EDD 6/3/17
Beta #1: 145 Beta #2: 376 Beta #3: 2,225 Beta #4: 4,548
www.5yearstonever.blogspot.com
Well first I'm definitely taking the lump sum! Put money aside for the taxes (assuming they aren't already taken out) pay off all my debts, rent out my current house and build another house. With the rest I'd probably take a vacation and then invest, invest invest and save, save, save. If it was enough to survive on forever then I'd quit my job and go work at an animal shelter which I'd love to do!
ETA: I'd also give my parents money to get out of debt with the stipulation that they never got back into it and they must take a class or read a book on money management.
Powerball large jackpot: Most likely I would learn German and maybe French so I can do my own study of European history. I may even see if I can become a Swiss national (my great grandparents were both Swiss citizens who immigrated making my grandfather 100% Swiss). My wife would retire and I would have to find something to keep me busy.
Pay off the mortgage, my car, and any debt we might have.
Give a chunk to my parents to help them out.
Travel and save/invest the rest.
1M: pay off H's school debt, remodel the house, take our families on a nice trip to Disney World. With H's sizable debt paid off, use that $ to pay more towards the mortgage and get a weekly house cleaner. Save the rest for good annual vacations, retirement, college fund for DD.
100M: all of the above plus more house remodel. Cut back to 60% time (ish) at my job or maybe just volunteer there half-time with no salary so they can hire another full time person to do admin. Buy a second car. Pay off mortgage. H might quit entirely or just take contract work. Way more travel as a family. I don't know what else! I'd need to have some kind of job so I still feel productive.
Metric butt-tons of money - all of the above, and then hire someone to take care of the one rental here; share some with dear friends and family if I could do so appropriately; start our own non-profit(s) locally - a makerspace, a kids' corner, and maybe more; donate a substantial sum to my kids' school; buy some cheap houses downtown just to fix them up and make them awesome for other people to live in without worrying about getting a good return per se; buy some land/block of houses to turn into a mixed-use funky live/work space; buy a villa or condo or something somewhere in Europe - France, Italy, or Denmark perhaps; buy a boat or everything needed to build a boat; obviously lots of travel. That's all I can think of at the moment! We already run our own business but we would probably shift its focus.
Oh, fun! I have spent way more time than I should daydreaming about winning the lottery
1M: Pay off all debts including house (total approx. 100K); max out retirement accounts; probably give some small cash gifts to my family members; buy 1 or 2 houses that we can fix up and rent out (this will be our income in retirement) and then hire a property manager to manage them; make donations to some of our favorite local organizations; hire people to complete all of our major home improvement projects; save whatever is left for our annual vacations
100M: All of the above, plus probably buy my mom a house; give substantial gifts to my siblings but try to set conditions on taking financial management classes; make larger donations; purchase vacation property in central California and possibly a condo in Hawaii; probably both quit our jobs and possibly open up a cake shop (I always said I would only do this if I didn't need the money); invest whatever is left over and hopefully earn enough interest to live off of
We live in a small town so I think we would need to claim our prize anonymously, otherwise we'd probably have to move because I'd be scared people would try to come and rob us or something! (I told you I've put a lot of thought into this, LOL)
1 m: pay off the house (140k ish left), save a good chunk and travel a bit. Probably buy a vacation house somewhere nice.
Powerball type win? Sell the house, buy in a neighborhood down the street that has acreage. Buy a house in Texas hill country, one up north, a beach house somewhere around the country. Dh quits his job and we travel. Invest a lot of it so we can live off the interest.
Yeah: Lump sum.
1. Pay taxes on earnings.
2. Tithe 10% of total amount won, before taxes, to church.
3. Sell this house and move to more land (hobby farm) with waterfront here in MN.
4. Decorate/update/reno new home/property.
5. Bulk up e-fund/future savings.
6. Give rest to Gospel for Asia.