I overheard from somewhere or someone that the lottery has a ridiculously high amount up for grabs right now. We do not play the lottery nor do we have any intention on starting, but its still nice to dream right?
I found myself baffled at what I would actually do with a large sum of money. I settled on 30 million since 400 million seemed overwhelming. What would I do if (after taxes of course) I had $30 million sitting in my account? Justin and I disagree on the order of these things, but I’m going to share wit you what I think I would do with that money – in the order I would intend to do it with.
I could only think of $5 million worth of things to do easily – after that I would probably consider buying 3 more houses (for my kids, but letting friends live in it for now rent free or something) and then donate the rest to whoever we can find to donate to.
I would not stop working – I love my job, but I would try to make it a part time thing so I could be home more with my kids.
So here it is, here is what I would do with $30 million (well $5 million really)
Pay off debt $20,000
Buy a house $600,000
Buy new furniture for house / paint / remodel $50,000
Buy new hybrid cars $75,000
Finish Emergency Fund $20,000
Pay for Justin's School $75,000
Create "School" account for kids $180,000 This will be about 13 (K-12) years worth of "Private" school for the kids
Create Child Savings Accounts $750,000 Max "insured" is $250,000 per person so they'd only get that much each and transfer the interest back to our account
Create "Retirement" Account for both of us $500,000 Max "insured" is $250,000 per person so I'd only put that much in account for both of us and transfer the interest back to our account
Help family pay off debt $500,000
Buy a house for family that does not own one $500,000
Help friends pay off debt $500,000
Fun Money $200,000 For vacations, new "toys", programs for kids, passes, etc
Adopt another kid $30,000
DONATE $1,000,000 To church first for some needed "upgrades" and then other things
And that only makes up $5 million. What in the world do people do that make $5 million a year?! Sam just told me to "dream big" - apparantly I'm not a dreamer haha.