What would you do with $1,000,000

As I was standing in line today waiting to pay for my gas, I noticed an older man turning in two scratch off tickets. The total winning came to $25.00. That's a decent amount of cash. That would have been over half a tank of gas on this specific occasion. Instead of taking the winnings and leaving, he used the entire amount on more scratch off tickets. I could have used that cash I thought, and here he is leaving it to chance.

I left the gas station and began pumping the $40.00 that I just purchased in gas, I was still thinking about this situation. Thinking, people can never really be happy can they? He just won cash. Not a dollar or two, but twenty-five. I wonder if he won $100 if he would still choose to buy more tickets to see if he could multiply his earnings. At what point would it stop. At what point would he have said, I'll take the money and run? And why is lottery chance? Why isn't it merit or good will based?

As I closed the car door and drove away, I started thinking...what would I do with a million dollars? You hear all kinds of horror stories about individuals who win some fat cash and their lives go to crap afterwards. I've heard the stories about how they blow it all and then are in worse shape than they started financially because they have created this lifestyle that they cannot maintain when they expend the initial money. 

So on my drive through Cumberland County, I created a plan of what exactly I would do with the money. For giggles, I'll share it...with the world! 

For my created plan and for the purpose of this blog, I am indicating that one million is what I have in hand and the taxes have already been paid. 

First off, I would put $100,000 in savings / roth ira accounts so I can actually retire one day. I would pay off my home and my vehicle and student loans. My current home, while I love it because it is home is not my "dream home", So I would use that home as a homeless rehabilitation home free of rent for homeless families to get on their feet and build my modest dream home. I project that this would be roughly $450,000. I would give $10,000 to my siblings and $20,000 to my parents, and $5,000 to nieces and nephews. I would use 10,000 to lavishly blow at my leisure. I would put  $80,000 into a college fund for Noah and $30,000 into a savings account for him as well. I would take $100,000 and use it for tithing. I would then split the remainder. I would take $30,000 and be a random giving fairy and give money to those who I chose (whether I know them or not). $35,000 would go to cancer research. The reminding $65,000 would go into checking to use for living expenses, vacations, etc while still maintaining my normal job.

So while I still think it's crazy for someone to give up the cash in hand for a chance at more, and though I know there will never be a day the lotto gods shine down on me, it's fun to play around with what if's and it sure made my drive seem a whole lot quicker.

Now that you know how I would breakdown a million dollar winning, what would you do with that kind of cash??   Make it count!