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Dream a little dream- one million dollars... - Page 2

post #11 of 21

Invest

Pay off debt

Sell house and build dream house

Travel, travel, and more travel

Go on a shopping spree (ok, this will probably be done first, lol)

post #12 of 21

1. Pay off our mortgage

2  Invest so that it would continue to pay us over time

3. Re-do everything on our property that needs to be redone (house, outbuildings, etc)

4. Buy out land connected to ours

5. Start a business (orchard, pumpkin patch, tree farm, something agricultural)

 

post #13 of 21

1. Buy a house.

2. Pay off my school loans.

3. Pay off my car.

4. Buy a home gym.

5. Visit Japan. 

post #14 of 21

1. Pay off all debt

 

2. Build a 7 bedroom house

 

3. Put money away for college

 

4.Buy new van

 

5. Take family on a cruise

post #15 of 21

LOL! Isn't is weird when one million dollars might not be enough?

 

1) Invest it so we can live off the proceeds. If I can get approximately 2% interest right now, that would "only" be about $20,000 a year. I'd probably go back to work to bolster that income and get us health benefits.

 

2) Let hubby quit work so he can go back to college. I think he doesn't need to go back to college but it is a big dream for him.

 

3) Once hubby is done with college, move out of country where we could live cheaply on the interest.

 

Seriously, that's it. Like I said, $1M doesn't stretch far.

 

post #16 of 21

It is true - 1 M does not go far with the current super-low interest rates. If you put that 1M away & invested it, and all investments carry some risk, even if you diversify, you are not going to get whopping amounts of interest to be able to "live off the interest". Also, if you are dinging that 1M up front to pay off bills, pay off the house, buy a car, remodel, take a trip, you don't have that 1M starting amount for investing. DH and I have been having several meetings as of late with our financial investors as one of our goals this year is to finally try to organize/clean up our money situation. We've got CDs and IRAs and some account from DH's dad, and a bunch of things scattered all over and we want to get it so it makes sense, is working better for us, and maybe be able to earn more interest. We've learned a lot in our meetings so far, and it becomes obvious that, if you had 1 M, depending on your age, how long you need it to last to pay for your retirement years - it doesn't break down into all that much in the long run, unfortunately.

post #17 of 21

Pay off all debt.  Help out my grown daughters.  Younger one desperately needs a newer car (hers has over 300,000 miles on it).  Do some needed work/remodeling on house.  Help out mil some.  Invest/ save some for retirement.

post #18 of 21

1. Pay off Mortgage!

2. Renovate house

3. Pay off ALL  debt

4. Buy new car, pay cash and have no payment! LOL

5. Take entire family including mom and mil on vacation!

 

Of course being responsible like saving, paying college tuitions, and investing are in there, but  after living paycheck to paycheck and frugal for so long, it would be nice to live a little and enjoy the money!

post #19 of 21

Pay off Debt

 

Pay off Mortgage 

 

Sell house or rent out

 

Buy bigger house with at least 2 car garage, BIG kitchen, dining room & onsuite

 

Put money aside for DS education 

 

oh the list could go on & on LOL!

post #20 of 21


1.Sell our house and buy one in the neighborhood we want to move to and pay it off.

2. College fund for DS

3. New or new to us cars for DH and I both or ours are getting old and will need to be replaced in a few years.

4. money for travel

5. Hopefully invest wisely so DH can retire earlier especially with no mortgage. 

 

I would like to basically live like we do now just in a different neighborhood and do a bit of traveling and not worry about money. Unfortunately a million bucks doesn't buy much these days. But even doing the things I listed it would take years off our retirement plan smile.gif. Since DH would be able to retire sooner we would do more traveling - something we have not done at all in the past 9 years and we really miss. We have never done expensive trips but road trips but we haven't even done those since before DS was born. 

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