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Challenge: If you won a million dollars

After reading a post by njchicaa it got me thinking what I would buy if I had won a large sum of money.

So with this, I ask you all the question of what you would do if you won a large sum of money, say $1 million, and invite you to create a blog post about your answer.

I, personally, think I would use that money to take my immediate family on a vacation on a cruise or to another country. I would then spend some on an east coast road trip with a friend. I would also buy a new car, probably a minivan or SUV (something with lots of room so I never have to worry about packing lightly), but nothing too fancy. Then I'd find a nice house somewhere along the east coast and move in, paying it all upfront so I don't have to worry about mortgage when and if the money starts to run low. I'd also use the money to decorate in a way that seems fitting, perhaps install solar panels so my electricity bill will be cheaper, and get inspirations off of Pinterest. I would then save any leftover money and try to work towards a career in the field of video production, though I might need to use some of the money to live off of for a few months since I may have to start off as low paid or unpaid and work my way up from that.

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frankie2015 wrote on January 5, 2016, 9:50 PM

Me too I have always wondered what I would do if I won a million dollars (Canadian of course). After reading the challenge, I will write what I will do with it, even though it will not be so much of a challenge as my first buy has already been mentioned in your post. I would definitely and positively buy myself a house, pay it all in one shot. Then I would decorate it rather cheaply but still with taste. Then I would invite a dog to come and live with me and probably a cat also. But I would be living alone in that house. I have to admit that people are rather annoying while animals only ask and require food, water and a bit if attention and loving care. But they are not going overboard on their demands like their human counterparts are. After all that, I would concentrate more on writing here and on other sites of which I am a member.

Last Edited: January 5, 2016, 9:51 PM

cheri wrote on January 6, 2016, 12:11 AM

I would make sure that my kids'education will be secured in the future.

morilla wrote on January 6, 2016, 12:28 AM

$1 million isn't what it used to be. Assuming it was $1 million AFTER taxes, you might find it's better to invest the money and use the earnings, over time, to buy vacations, vehicles, paying on a new house, etc. Remember, with things like houses and vehicles, it's not just the purchase, but the other costs (e.g., insurance, repairs, taxes, etc.) which come into play. Even though it may not be as 'fun,' in the long run, it might end up being a better choice.

Now, if the sum was more like $100 million after taxes, investing some and spending some becomes more viable.

cmoneyspinner wrote on January 7, 2016, 11:15 AM

I don't have enough words to say to create a blog post. I would give it to my husband. He manages money way better than me.

lookatdesktop wrote on January 8, 2016, 7:19 PM

I would take my wife on a cruise and think more about what to do with the money while living it up for a week or two in the Bahamas.

Paulie wrote on January 8, 2016, 11:01 PM

If i won a million dollars, I would spend it by traveling around the world.

ViperGirl85 wrote on January 10, 2016, 8:12 PM

If I won a million dollars, I would help my family (this includes my siblings' familes) pay off their bills, and of course I'd donate some, especially to lung cancer research (as we lost our Dad to lung cancer). We would also be moving, and I would be going to Wrestlemania. And we'd go to Disney. And everyone gets gifts lol! The rest would be put away.

AliCanary wrote on January 14, 2016, 12:56 PM

I like your idea about the solar panels!. I would immediately pay off all debts (really, I only have the mortgage on my home, a rental property, and a home equity line of credit) in order to cut expenses, and then I would take steps to forestall further expenses, like installing solar panels. I would invest the rest, trying to live off the proceeds so that we could afford whatever we needed, like home repairs or a new car (although I might indulge myself there, with a Tesla!), and occasional nice dinners out or a bit of travel as a treat.