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What Would You Do with a Million Dollars?

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Guest blogger Michelle Kemper Brownlow: If I told you that you'd just won a million dollars, what do you picture yourself doing with the money? We have all seen the lottery winners on television jumping up and down and squealing, but sometimes those same people end up in the news a year later because they had to file Chapter 11.

stack of money
A few weeks ago, a 70-something couple from Nova Scotia won over $11 million and gave it all away. (Well, all of it except $200,000 they said they were saving for a rainy day ....) This got me thinking what I would do if I won just one million dollars. Here's the off-the-top-of-my-head list:
 
  • College-tuition savings account for all three kids. 
  • Pay off our house.
  • Buy an investment property just off Penn State's main campus. 
  • Pay off my parents' cars. 
  • Donate the rest to CURESEARCH.org, an organization that supports research for childhood cancer. 
When I made this list, I was imagining it being a lot longer. A million dollars? Shouldn't my list go on for pages and pages? Sadly enough, I would probably only be able to fund most of my wishes. Now, if I won $11.2 million like Allen and Violet Large did, I would add the following things: 

  • College tuition for my three nieces and nephews. 
  • A vacation home for my parents.
  • Pay off my sister's house.
  • A timeshare for my in-laws.
  • Purchase 100 acres of wooded property.
  • Build an awesome writing/art studio.
  • Um ... uh ... that's a lot of money ... I think I need to call my financial planner to finish this list. 
The fact that my palms are sweating at the notion of the responsibility that comes with that much money reminds me why I don't play the lottery. And makes me appreciate the Larges even more!


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11 comments so far | Post a comment now
KS December 13, 2010, 9:09 AM

We would spend less than half paying off debt, setting up savings for the kids and a down payment for a 5 bedroom house. The rest would go into accounts for retirement.

sharron Story December 13, 2010, 10:19 AM

I would pay off the rest of my daughters medical bill she has breast cancer twice, help my other daughters husband pay off his medical bills he has lukemia, my other daughter a nice home she lives in a bad rental. then there wouldn”t be much left

Donna C. December 13, 2010, 10:39 AM

I would retire and work full time at raising my angus. I would pay for my son’s wedding and help him get started with a down payment on a house. It would be so nice just to not work and worry about paying bills.

tiffany December 13, 2010, 11:01 AM

i would help myself and my family and help other people

Elaine Stefanick December 13, 2010, 12:28 PM

If you told me that I just won one million dollars, I would first of all get up off the floor, then I would smother you with hugs and kisses, then I would try to get myself together!
Then I would call my hubby, my mother,and my daughter. Then I would tell them that I will be dividing the money up into 4 equal parts and each one would have $250,000.00 to do what they want, with one stipulation….they must take $25,000.00 and donate it to a deserving chariy.
This would be my way of sharing the wealth…..

Deborah December 13, 2010, 1:49 PM

Id buy a house,a car,fly my son and his daughter home for Christmas and for a little longer,pay alot of bills and help my family.

Sayidra  December 13, 2010, 6:04 PM

If a won a million dollars. first i would donate 250 thousand to have clothe and feed children all over the world. then i would pay the way for college for ten strangers plus my five children. I would buy my mother a house with land and sisters. I would pay off all my debts. and start my 3’S project that me and my daughter’s well travel around the world helping the children and their family that is and need. Then i will know my job is done contriving to the world.

Ashley Gramma December 13, 2010, 10:45 PM

I would buy a home and a dependable vehicle for my family. I would help the people who helped us when we were down. Then I would get a house to help young adults who are coming from the foster system at 18 to get on other feet. I feel no one cares about what happens to them when they come out the system, and this will give them a chance at a future.

Yonile Derivois December 14, 2010, 5:43 AM

If won a million dollars I would pay off my mortgage, car, student loan, credit cards bill, etc. I would put some money away for my kids college tuition and donate some of that money to a charity, and take a cruise with my family.

Yonile Derivois December 14, 2010, 5:50 AM

If I won a million dollars I would pay off my mortgage, car, student loans, credit cards bill, etc. I would put some nomey away for my kids college tuition and donate some of it to charity, I would take a cruise with family.

Lindee December 15, 2010, 1:08 PM

I’d hire my favorite rock band to play a concert in my backyard!


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