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ProdglArchitect
Guest
Pay off my student loans, pay off my house, and start college funds for my son, nephew, and Godson. Then I’d pay off any debt my family has, set up a fund for charitable giving, and then invest some and travel a bit. I’d also start putting the maximum allowed amount into my retirement fund each year.
I’d definitely make sure my wife doesn’t have to work anymore.
Honestly, I’m not sure beyond that. My wife and I agreed that if we ever were to strike it rich we wouldn’t let our son know. She grew up in an affluent area and saw the sort of lives those types of kids tend to lead. We’d probably pay off our house and maybe purchase a new house with a bit more room. Possibly, we’d keep the first house around as a rental property for some passive income… Other than that, we’d probably save a significant portion of it as a rainy-day / emergency fund…
I’d definitely make sure my wife doesn’t have to work anymore.
Honestly, I’m not sure beyond that. My wife and I agreed that if we ever were to strike it rich we wouldn’t let our son know. She grew up in an affluent area and saw the sort of lives those types of kids tend to lead. We’d probably pay off our house and maybe purchase a new house with a bit more room. Possibly, we’d keep the first house around as a rental property for some passive income… Other than that, we’d probably save a significant portion of it as a rainy-day / emergency fund…