My husband won the lottery?

Question

5.4 million and he did not take it all at once cause it would of only been 1.3 or something like that so he chose to have a check of 144 thousand sent every 14 of march so we get are first check today and then another 144 thousand next march and it will be like that for a long time so i thik we will be set for awhile how w;ould you spend the money any ideas on what would be a good idea for us

Answer 1

pay off any loans,credit cards, and cars the first year or two.  the next year put in a savings acount or spend it as you please after that your pretty much set.

Answer 2

Well congratulations! But do not blow it all in one place I suggest investing into something that will make you money like real estate as an example you know buy a used house rent it out something like that and congrats to you and your husband

Answer 3

FREAK

Answer 4

Spend it wisely, buy all the necessities first, then plan out on what you're going to need to keep you till the next 14, March. after that you should buy what you want, or save the rest.

Answer 5

First...pay-off the mortgage...if you can.

Second...pay-off the car loan(s).

Third...pay any other outstanding bill.

Fourth...plan a lovely romantic (or family) vacation for now, or next fall - your choice.

Fifth...don't quit your jobs.

Now, this is where things become fun...

The BEST way to do it is simple. Divide the money up into blocks. Take 25% of it and mark it as "Retirement," and invest it so that the two of you will have a nice nest egg. Take another 25% and mark it as "Needfuls"...this is the money you pay bills with. Next, take another 25% and mark it as "Fun Money"...this you spend/splurge on whatever.

You have now accounted for 75% of your $144k. To finish off, take 10% and (if you feel like it) give it to a registered Charity - choose it carefully, many are scams or fronts for other things. Of the remaining 15%, take 7.5% and ear mark it for your kid's education. The remaining 7.5% can be used to help relatives *in genuine need*!

Answer 6

be careful. i agree with the first guy. buy what you need first. then budget out for the rest of the year and put that money away for expenses. i would put some away for good, maybe invest a little bit. any left over, you can decide what fun things you want to do with it.

Answer 7

enjoy life, its really short

Answer 8

the 1st thing you should both do is continue to work.  If ur husband is the only 1 working make sure he works.  So that away yall can still pay ur basic neccesties.  2nd only pay  off any loans that dont equal over 75,000. 3rd-splurge on someting that youve always wanted