Sunday, March 14, 2010

What Would You Do With A Million Dollars?

Grandma Beth wrote today:

What would you do with a million dollars?

It's more like, what could I do!

First I could pay off our mortgage which would use less then a quarter of it.

Then I could pay off our son's home (he owes about $80K) and buy house's for our other two who rent their homes. With the cost of house's here, one can get a nice home in the $80K range with no problem. That would take about another a quarter of it.

I could buy the house next door to our son (it is bank owned right now and could be bought for around $50,000. It would then take another $30,000 to repair all the damage from vandals). I could then snowbird/vacation rental the house out during the times we won't be there bringing some income at the same time.

The remainder could be divided up somewhat like this:

10% would (my only would) to the church - $50,000 could do a lot of God's work.

5% could go to charities - $25,000 would sponsor many children in poverty nations.

5% could go to a Homeless Shelter for Families - $25,000 would help a number of families have a roof over their heads.

I could open 6 Trust Funds for the 'Grands' - $60,000 (by the time they would need it for college the $10K would grow to what would be needed or at least provide a good amount to start with in 13-18 years)

We could have our entire property landscaped and upgraded - $30,000 (no need to go overboard)

Could use $15,000 to but accessories or items we have needed for our home and/or our childrens.

The remaining $250,000 could be invested, to provide additional income in the years ahead.

So now, who is going to give me a million dollars?

What would/could you do with a million dollars?

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