In honor of the other lottery thread about the stupid dude who blew his money, I was wondering what you would do if you won a modest lottery.
The jackpot was 5 million and you decide to take a lump payment and the government took half. You know have 2.5 million. What would you do with it? Here's what I'd do.
1) Tithing (250,000..ouch!)
2) Pay off all debt (around $20,000
3) Buy a nice house up the hill (around 300,000)
4) Pay off in-laws mortgage (under 100,000)
5) Build a new house on my parent's lot (around 200,000)
6) Buy a couple nice vehicles for my wife and I (around 60,000)
7) Children education funds (around 100,000)
8) Agressive investments (500,000)
9) Low risk investments..bonds, savings (500,000)
Unless my fingers punched the calculator wrong, that leaves me with around 470000 to play around with.