Would ’spend’ it all on freedom called Vangaurd equity index funds, allocated according to global market caps.

I would spend the dividend each year. With a current dividend yield of around 2% and a history of going up over time (also in real terms), this would give me more options in life. I would continue working, adding maybe 10K of my take home salary to the dividend stream in the first year, 8K the second year, 6K… and be financially indendent after 5 years at age 27. All salary over 10K goes into my nice big freedom nest egg.

I can imagine myself using the dividends for special travel (North Pole, French Chateau vacation, Ferrari drivers weekend, …) in the first couple of years, for a nice wedding and house once travel starts to lose its novelty, and my future children once they arrive in – at least, I may hope – 7 years.

It’s amazing how quickly you learn about yourself when you receive a giant wad of cash.

When you’re young your subconscious screams “don’t worry be happy!” and out the window it goes. If you’re old in age or in spirit, you become very scared very quickly about this cash. All these charitable comments (I’d give 10% to…) are quasi-laughable; if $1 mil appeared out of thin air you’d worry about only one thing: how to protect it and yourself. It’s a scary responsibility.

Don’t fool yourself…

But what would you REALLY do with the “fun” portion? Like I said, i’d vacation. I’d spend a 7-10 days in Europe, another 10 days in South East Asia, hop to China for 3 days, then spend the last week in Africa at one of those safari joints.

I’d set up a scholarship at my alma mater. Nothing big, but something like a $1k yearly deal for 10 years. I wouldn’t target the super poor, I’d focus on the kids whose parents make too much for free money, but not enough to pay for college (which was my deal).

I’d do a lot more if that million was 20 or 50, but you could still do some good with that new bag of nickels.

Realistically though I would use it to pay off outstanding bills and ramp my investments. I would though take 10% for fun and spend on whatever I want, 10% to family and friends in financial need and 10% to charity.

Andy.

Anyways – I’d pay off debt, give 10% to family and invest the rest in dividend stocks. I wouldn’t quit work but man, if I really felt like quitting – I could…

Mike

If I win a million dollars from the lottery or some large windfall, I’d love
to be able to say some grand things such as I’ll properly invest it and make
it grow so that I can help notable foundations or charities. But when I
really think about it, I think realistically I’d take care of my immediate
loved ones first. It’s often said these days that a million dollar isn’t
what it used to be, and there’s no denying that. But regardless, it’s still
a life-changing amount for many of us today. If I can help my family and
loved ones with this money, I’d feel pretty content and rich. This may sound
like a cheesy canned response, but it’s the cheesy truth!

haha, I’m sure no one cares but there’s a big difference between a “million dollars” and “filthy rich from the powerball.”

If I had a million dollars, I’d buy a motorcycle and a small apartment in Italy, buy a house for me and remodel it to my dream house, finance my two sisters’ college educations, and invest the rest (probably around $400k). I’m 22… $400k now will be a lot in 10 years, in 20 years! After it grew a little, I’d probably quit my regular home businesses and go into something I fantasize about, such as designing clothing. It’s fun to think about