(a) if it was from a lottery (after taxes) ... or .... (b) if it was from the gov't ... to stimulate the economy, but with no restrictions and no accounting of use of the funds (just like all those billions given out to the 1% peoples ... ) ...
Retirement fund. Maybe use part of it to buy a reasonable house outright so I don't have to pay the interest, and save what I would otherwise be paying in mortgage payments to the retirement fund. Maybe use $100,000 in more risky investments with high payoff potential and see if I can make the money grow.
But just a million isn't nearly as much as it used to be. I wouldn't even quit my job. Id just have a little less stress over financial issues.
“The human understanding when it has once adopted an opinion (either as being the received opinion or as being agreeable to itself) draws all things else to support and agree with it.” - Francis Bacon
"There are two novels that can change a bookish fourteen-year old's life: The Lord of the Rings and Atlas Shrugged. One is a childish fantasy that often engenders a lifelong obsession with its unbelievable heroes, leading to an emotionally stunted, socially crippled adulthood, unable to deal with the real world. The other, of course, involves orcs." - John Rogers
“A world that can be explained even with bad reasons is a familiar world. But, on the other hand, in a universe suddenly divested of illusions and lights, man feels an alien, a stranger. His exile is without remedy since he is deprived of the memory of a lost home or the hope of a promised land. This divorce between man and his life, the actor and his setting, is properly the feeling of absurdity.” – Albert Camus
"...the pious hope that by combining numerous little turds of variously tainted data, one can obtain a valuable result; but in fact, the outcome is merely a larger than average pile of shit." Barash, David 1995.
Similarly, Asleep At The Wheel's Gone but not Forgotten, in the verse about having gone up to Prudoe Bay to make lots of money working the oil field there:
quote:Half I spent on women, The other half on whiskey, The other half, well, I just threw away.
Growing up, my father would tell me about one of his uncles who had made several fortunes in his time and whose advice it was that making the fortune is the easy part, but keeping it was what he could never figure out.
And to put a million dollars into perspective, if your current annual salary is between $50,000 and $100,000, then a million dollars only represents 20 to 10 years income, respectively. If you have fewer than that many years left before you retire, then that is different than if you are much earlier in your career.
Now certainly, being able to pay your house off is a good idea. If you stick to the scheduled mortgage payments, you end up paying 4 or 5 times the principle in interest alone.
If you're comfortable with your current lifestyle, why change it? If not, then just ramp it up a bit to where it becomes comfortable. Becoming extravagant will sap your fortune away. Sure, set aside a little mad money in your budget, but stick to that budget.
The same with investments. The old wisdom was to invest your fortune and live off the interest, but that's gotten a lot trickier now. Though again, budget a small portion for risky speculation, just as you would wisely plan a gambling trip to Vegas -- set aside a fixed amount that you will gamble with and stop when that's gone.
It takes a lot of good planning to survive a windfall.