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Friday, March 30, 2012

The 5 Million Dollar Plan

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.


  1. Can I be one of the friends who you will pay the debt of?

  2. lol i have a list like that of my own and it looks very close to this one minus the kids and church i know my family and friends would be set :)

    o and the reason the church isnt on there is because i dont have a church i dont make enough money to be accepted at any local churches here (sad but its the way it works around here)