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Where Would You Spend Your Money?

$$$$$$$$$$$$$$YOU JUST WON THE LOTTERY!$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$

When I was in psychology class in college, my professor asked us to write an essay on how we would spend our money if we won the lottery. I didn't know the reason behind it, but she wanted to see what kind of people we were. I am always curious to see what people are really like. Now I understand that this intro really skews things, but I had to justify its placement in the psychology board. So the 'test' question is:

If you won 100 Million dollars in the US lottery, how would you spend it? Don't take taxes into consideration, you have a flat 100 Million to spend how ever you like. Try to be as honest as possible, but give it some thought. And don't just say your going to give it to charity if you wouldn't. I have to give it some thought myself so I will post my money distribution later.

Money Spend You Where

The first thing I would do is pay off my debt. Honestly, this has been the biggest monetary deterrent in my life to date. That would include paying off cars and home mortgages. Once all debt is cleared, I would open two trust funds for each of my kids, and put a significant amount of money in each; probably 10 million each. Those are the two main things I would need to get out of the way. Once those were accomplished, I would give my mom, and my wife's mom and dad enough for them to each retire. Probably 1-2 million each. Of course I would have an accountant or money planner helping me achieve all of this so I don't make a mistake. That should leave me with 60 million or so left. I honestly don't know what I would do at that point. Probably take a long vacation, see the world. Definitely purchase some nice automobiles, and invest quite a bit. Of course, I would donate to charities, etc. I don't have a lot of extended family so I would help them out however I could. I would definitely want to have at least 25 million saved away to live off of. The funny part is that I would still want to work, because I like my job. I know my wife would probably stay with her job too, since she enjoys it as well.

Where Would You Spend Your Money? Health & Special Psychology

I couldn't even contemplate spending that amount of money!
A huge chunk of it maybe, but if you invested it well, you could probably live very wealthily off the interest that you could make on it!

For part of the money, I would buy a big house with a big garden for the kids,2 nice new cars would come in handy, helping my family and my husbands family with some money, and investing some money for each of my kids.

After this I would really love to adopt a Chinese baby girl, this costs thousands from the Uk, but obviously money wouldn't be a problem so that is what I'd like to do.

Apart from those ideas, I can't think of anything else apart from a trip to the US or Hong Kong that I'd like to do.

I would like to think that winning all that money wouldn't change me, probably most winners think the same, but ultimately it has to have some effect on you, in my opinion.

Money Spend You Where

The first thing I would do is nothing. I would sit on it until riches beyond my imagination had time to sink in.

Down the road I would see that my offspring never had to worry about money again, but I would set it up so they received a given amount each month the rest of their lives.

When all that was taken care of I would travel the world building schools and hiring the staff to run them. Education is the best defense against poverty. Give a man a fish and feed him for a day. Teach him to fish and feed him for life.

At the same time I was building schools I would carry a team with me to educate local farmers and supply them with modern tools and equipment to grow the crops to feed themselves.

Then I would go to Las Vegas and blow the rest on wine, women and song. (JOKE)

Money Spend You Where

This one is really hard. I mean it's an amount of money difficult to imagine....
Like many of you already have said I would of course get rid of all debt. I really liked the idea of making sure my kids would get a certain amount every month, but I also think I would have given them more the first time, just to make sure they would have enough to pay for their education...

As for my self, I would only spend money on a house and a newer car. I would really like to help other families in need. I have seen many families struggle with money problems, so it would definitely make me happy giving them a hand.

Where Would You Spend Your Money?

I've been thinking about this as I responded to other posts. And, a friend of mine and I have kicked it about a few times. From the beginning I'd be working with a business planner that I would trust after having interviewed every single blessed one! First I would buy about fifty acres of pasture and woodland and build a home. Completely custom to my speficications. I'd have my animals that I want for farming and those for spinning and weaving. I'd set aside enough money that if anything went wrong with this home, the property, etc. in my lifetime - I wouldn't have to worry about the upkeep. Taxes, insurance, etc. No problem. As my parents do not know where they want to settle, I would wait until they decided and make sure they did not have to worry about debt to settle their decisions. I would have savings for university for my siblings' children and clear them of their debt, but I would not do more for them, because I believe they should not be given too much. This may sound harsh, but in my family, it is applicable. I'd make sure my friends' children would not have to work three jobs to be able to go to university. And that my friends wouldn't have to work three jobs because they had bad marriages that ended poorly.

I would not donate money to nameless, faceless charities. My church would benefit. I would travel to different parts of the world that are in conflict and working with them to have hospitals and proper medical care. Education as Mousetrails said (fabulous idea!) I want to help fund libraries and empower women and children. I don't know how much money I'd require for any of this -- this is why I'd have this great financial planner. I think that about covers it.

Where You Spend Money

Miss Molly, I don't think you would need a manager. Do you realize if you banked that much money at only 1% per year interest you would have one million a year in interest. You could make some real stupid mistakes and still have more money than you could give away in your lifetime if you gave everyone you met a $20 bill?

Offtopic but, William Randolph Hearst had an income of $15,000 a day in the 1930s. Have you ever seen his castle in San Simeon California. He couldn't spend it as fast as it was coming in.

Where You Spend Money Psychology Special & Health

First off I couldn't spend that all by my self so I would find the people I would trust with my life like my family and very close friends. I'd say 10 mil each, for about 60 mil gone. The other 40 mil I would pay off my debt and buy my own two story house and decent car. after that I would give half of it to the needy people in 3rd world countries who need food, water and shelter. The rest I would put in a bank to live off of. I would still work because I can't stand just sitting aroung doing nothing all day.