What would you do if you won/ received $2million?

[ringbling17]

Edited my post bc I don't want to put out too much personal info.

 

[kalomeli]

Finish school and find a job.

Next big purchases for us are buying an apartment and paying for our wedding. In Finland the wedding ring is the flashy one so some bling would be on the way too. Don't know what to do with the money after that but I'm pretty sure we could think of something!

 

[packrat]

Quite jealous about all of ya'll who say you can do so much with 2M., like buy a house AND go do a bunch of other stuff and shop.
I did a quick search because of this to confirm how real or unreal my previous comment was, and:
http://www.redfin.com/city/17481/CA...t=&region_id=17481&region_type=6&market=socal

Yes, the cheapest house on the market in that city right now is 1.4M. CHEAPEST. And there's only that one under 2M. /facepalm.

Ooof. I can't imagine. The most *expensive* place for sale around here right now is $365k. For 3.37 acres and 4000 sq ft home. Heck, I might amend my list to buying that place instead of remodeling ours, or building a home similar in the country.

 

[dk168]

I have thought about this before, as I play the lottery all the time.

My list will be something like this, depending on the size of the winning:

* Pay off the mortgage
* Either renovate the house or buy a plot and build a house to my own specifications
* Give some money to my nearests and dearests, so that they share my good fortune
* Get another car, one more suitable to tow a trailer/trailer tent etc.
* Revamp my existing car to give her a new zest of life
* Get a better tent to replace the one I have
* Consider a change of career if there is sufficient money to do so, something to do with jewellery
* Give some money to a few charities
* Put whatever that is left away for rainy days

That will do nicely.

DK

 

[gregchang35]

Greg, I thought there was an OctaCZ available? Does it not ship to you?

As for me, here's my list:
1. pay off student loans
2. build our dream house
3. set aside money for college for future kids
4. help my mom set up a restaurant for her delicious Chinese food
5. visit al 50 states, plus all the other places on my travel bucket list
6. get my dream antique (true or antique style cut) cushion...maybe in a Singlestone setting. and a chunky OMC 5-stone. and some nice blinging OEC studs. and of course a nice engraved Frenchie band.

They are currently between cutters. And it may take awhile for it to be avail. So, happy to wait. Reading about everything else about the project.

 

[madelise]

Quite jealous about all of ya'll who say you can do so much with 2M., like buy a house AND go do a bunch of other stuff and shop.
I did a quick search because of this to confirm how real or unreal my previous comment was, and:
http://www.redfin.com/city/17481/CA...t=&region_id=17481&region_type=6&market=socal

Yes, the cheapest house on the market in that city right now is 1.4M. CHEAPEST. And there's only that one under 2M. /facepalm.

Ooof. I can't imagine. The most *expensive* place for sale around here right now is $365k. For 3.37 acres and 4000 sq ft home. Heck, I might amend my list to buying that place instead of remodeling ours, or building a home similar in the country.

Jesus, I'm jealous. It's not like I'm 100% tied or forced to this area, but I am rather fond of it, and my family and friends are here. My justification is that I figure, with the $ saved on having my future kiddos attend public school instead of private ($20K a year currently at a local one-- but don't worry! You get a 2% discount off your second kid if they're both enrolled at the same time! ) is worth it since the house can sell after the kiddos have grown.

I love how I'm making a bunch of educational plans for my unfertilized eggs, btw, hahaha

 

[baby monster]

Hmm... I like where I live and don't want to amp up my housing costs. We have 2 cars that I'm completely happy with. I like my job but can't quit either on 2M. College is too far away. I guess I'd spend 100K on a solitaire and the rest on a rental property. Very prosaic.

 

[Amber St. Clare]

Pay off the mortgage.
Set up a "health trust" for my nieces baby who will have high medical bills for life.
I have 3 friends who are really suffering in the economy and I would help them..
Take my SIL to a GOOD doctor and get her health issues straightened out.
Look for a 1 1/2 to 2 ct. OEC cut diamond as an upgrade.
If there is anything left we'd invest it.

 

[GliderPoss]

Ohhh love this. Hubby & I like to imagine this all the time! Sadly $AU2mil wouldn't get you very far in some cities here (looking at YOU Sydney...) but this is what we would do:

1. Pay off car loan
2. Start searching & probably buy block of land to build dream house in future.
3. Go on awesome round the world holiday next Xmas.
4. Save & invest rest for future/superannuation.

We are both young and would not stop working, I would be too darn bored. It would just set us up nicely for the rest of our life!

 

[pregcurious]

Pay taxes.
Donate part of it. Then...

1) Pay off school loan
2) Put aside money for kids' college
3) Decide about my going part time and/or getting help around house if I keep on working full time. Husband will still work because he likes it.
4) Put the rest into savings (retirement, house upgrades/repairs)
5) Trade in 1 car for minivan
6) Visit extended family (have been meaning to do this but cannot afford it)
7) Keep the rest of the budget the same (including bling budget)

 

[diamondseeker2006]

Oh, 2 million would be very helpful!!! Since I am dreaming, I will dream that it is tax free!

1) donate $200k

2) New house on the lake. Our current house is only three years old, and I definitely wouldn't want one any larger, but I would like it to be on the lake! So basically we'd be buying just the lake lot and paying off a small mortgage on the current house. So let's say $500,000 additional needed after sale of current house. We are very, very fortunate to live where real estate is affordable.

3) $100k for boat and relatively new Porsche for my husband

4) $100k for extra private nurse or sitter for my mother a few hours a day, etc.

5) $300k for gifts to family members for housing or payment toward mortgages

6) $100k college for daughter starting this fall (and new car)

7) $100k in college funds for grandchildren

8 $100k travel fund

9) $100k bling fund for me

10) $400k savings for future needs

In reality, we do have savings for some of these things, but on a much smaller scale!

 

[zoebartlett]

I'd pay off all debt of ours, as well as my immediate family's debts. I'd buy new cars for my husband and me, plan a few trips to dream destinations, maybe buy a house or two, and then put the rest away for retirement.

 

[chrono]

I am utterly boring; I would give some to my parents and parents-IL, then sock the rest away for retirement and college funds. I might take a wee bit just to splash as I please for a day but that's pretty much it. I don't have a mortgage to pay off and have no other debt.

 

[qtiekiki]

1. Put off mortgage.
2. Down payment for 2nd house.
3. Invest.

 

[Cozystitches]

I'm finally replying because well yesterday was a HORRIBLE Monday and today isn't starting off that well either....so I want to dream a bit:

1. Pay off all debt $200k (I think it's less but padded it to be safe)
2. Buy the RV/Truck cobo that we want. 200k (Hubby wants a NIIIIICE truck and I want the NIIIICE RV)
3. Start small college fund for the kids 150K
3. Set aside a bling fund for me at least 100k, I'd go find that beautiful diamond necklace that I tried on at the Gem show, and would make a bracelet to match
4. The way I feel today: I'd probably quit my job or just work part-time Or maybe go back get my masters and teach the college level part time.
5. Stash 1mil for unexpected stuff
6. Give away a bunch to family/friends to help them.

 

[Rhea]

I'd buy a 3 bedroom house in London with a garden in the area that we'd like to live. I don't mind if it's terraced, semi-detached, or detached. I'm not sure $2 million USD would be enough to afford a detached house.

1 - house (about £850,000 or $1.5 mil USD) for 3 bedroom semi-detached with garden in London
2 - new car, practical one, about £6,000 or 10,000USD
3 - long holiday to Australia, unsure of price!
4 - some new furniture and any updates needed to house

The rest would probably go to savings and investments. Maybe a fancier car or new guitar for DH, larger OEC earrings or bracelet for me if we weren't already feeling that the above cost too much! It's a nice lot of money and I'd love to be able to own a house flat out, but it's far too little to go wild and crazy with!

 

[partgypsy]

That is a good question. I've usually only asked myself that question with huge amounts of money 5mill+, or 10-100K or so amounts.
If it was a smaller amount (100K) it would be easy. I would simply use it to renovate our house, and move on.
If I got 2 mill, practically speaking I could retire. I'd pay off house (77K), buy one or 2 rental properties, and other than a cushion for replacing car, roof, etc put the rest into IRAS converted to Roths and live rather minimally. My plan was continue to write while working full time with kids, but I just can't do it. This way I could live the dream of writing without the stress of supporting my family completely on writing. I'd also take my Dad to a trip to Greece (non negotiable!) and help him finish the writing he is doing (which is great). Basically I'm a bohemian at heart, and if I could stick to those principles I could live well on that amount!

However the things that run into that plan, is if I had that much, I'd probably want to upgrade my house. And then I would basically have to figure out a way to take care of my Mom and sister. And help my brother, and on it goes. When you figure in things like that, it becomes more complicated, and 2 mill doesn't go so far!
I'd like to say I could keep it separate, but not sure can handle the guilt. for example hubby and I are both getting a little mad money from tax return. Instead of spending it I'm sending it to my Mom. I guess if we hid the money from them, still help but not have to go overboard.

When I get the money, I'll get back to you what I actually did!

 

[TooPatient]

1. Pay the mortgage about 75% of the way off and then refi the remainder (tax benefit to this...)
2. Pay off all credit cards & student loans
3. Finish restoring our airplane & finish my pilot's license
4. Finish my degrees without any additional loans
5. Set up a company with DH doing what we'd both love
6. remodel house like we've been dreaming of
7. Remainder in a trust carefully invested -- of which we'd ensure an education for "A", bling for me, travel, good start on retirement fund, lots of great charities, etc


Until then, I'll have to settle on the new set of sheets I'm ordering this weekend...

 

[yennyfire]

I had to think about this one for a while....2 mil just doesn't go very far. J/K!

1. Pay off our mortgage and that of my parents and sister/BIL
2. Finish funding college so that both kids could go to any college they choose (right now we have enough for 4 years per kid at a public university)
3. Fund my nieces college educations
4. Donate to several charities
5. New car for DH (his is 10 years old and he kind of wants a new one, but it's not a priority so we haven't bothered)
6. Travel the world
7. Bling