Remember, though, that what seems like a comfortable amount today, might seem like a piddly amount in 40 or 50 years.
Free drinks for all Dopers!
Can we order anything we want? Like a bottle of Chateau Lafitte or Dom Perignon? Or is it just pitchers of Coors lite?
There’s an amount that you can give people, and they don’t have to pay taxes on it. It used to be $10,000/year. I’d be passing that to relatives, yearly, for a start.
After that I’d have to hire a financial advisor and think about it.
Keeping it simple.
Pay off outstanding debts and mortgages of immediate family.
Build the house I want for 250k or so.
Keep another 250k liquid in savings and checking.
The balance goes into 500k 6 month T-bills set up to mature on a monthly rotation.
Well, first off it would be as much my wife’s as it is mine.
There are a few food banks around here who would get bigger donations than we can afford now. Ditto the library and the community theater we go to.
We’d pay off our son-in-law’s law school loans, and give them enough so they won’t have to scrimp until they both get jobs - not too long, now. I’d probably give some to my brother. He has never, never asked, but he works for a charity and doesn’t make nearly as much as he could working for a business. My father-in-law has more than he needs already for the rest of his life.
“I’d only ask three beers apiece for my co-workers, if that seems fair. I think a man working outdoors feels more like a man if he can have a bottle of suds. That’s only my opinion.”
My wife and I have talked about this. We would move my mom to a nice house in Northern Virginia (we live in DC) so that she could be closer to us and her eventual grandchild, for whom she would be a very, very enthusiastic babysitter. We’d also move my wife’s mom into a nice house, pay off her debt, and pay off her brothers’ college education. And her dad and his wife would also get some cash - whatever they need to pay the mortgage off, basically. I would also probably send some money to the woman my dad was with at the end of his life. I hardly ever interact with her, but she took care of him and has had a rough life herself, so she deserves some luxury. My wife has one cousin with a baby that we would probably help as well. Oh, and I have a second cousin who is working her way through school so she can earn money to raise her two kids after her husband’s suicide - she gets help, too.
The rest of our family are people we either aren’t very close to, actively dislike, face no pressing needs, or DO face needs, but just aren’t responsible people who would actually put our assistance to good use. So then it’s on to charity - we’d probably go with Planned Parenthood, the American Lung Association, the Humane Society, the rescue we got our dog from, and a whole passel of anti-trafficking organizations.
I’d buy a new shiny server for The Dope and some vBulletin power-user instruction manuals.
I’d buy “Charter Member for Life” and get my join date set to 1999.
I’d buy a real green dress and wear it.
I’d track down Roland The Headless Thompson Gunner and set him loose in Congo to chill them crackers out.
I’d keep my current job as a claim representative, but would conduct all my phone business in the voice and idom of Dr. Evil until I get fired.
And then I’d set up a kick-ass, overtly-secular charity that does really good things because they are right to do, not because Gosh said we oughtta.
I always wanted to have a scavenger hunt. I would hide all manner of cool vehicles all over my property and give contestants a ring of keys.
There would be multiple prizes for everyone, of course.
I’d give my folks 1 million each, my grandfolks would get $300,000. I’d hand out a couple of $100,000 to good friends.
Hoarding 10 million would be no fun at all.
The Skyy’s the limit! 
1 mil to brother, for him and his family.
1 mil to his ex-wife, and
1 mil to his daughter.
1 mil to security company to keep rest of my friends and family away from me.
The rest…me!
Best wishes,
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This sounds like my plan. Well done.
I would set up some sort of trust for my sister so she had a nice livable monthly income for the rest of her life. Definitely not a lump sum as she would probably blow it.
My father? He’s 90 and has everything he needs and he has a nice annuity. he buys a new car every other year so there really isn’t much I can give him.
Charities yes, probably mostly children’s hospitals like St Jude plus a few local charities.
Well, I don’t have any family to speak of, just a couple of cousins that wouldn’t give me the time of day. I have a few friends I would gift generously. Gordon Setter & Papillon rescue would each get about a half mil each. Other various animal charities would get generous gifts.
I would buy or build myself a nice house on a little acreage with a nice stable, hire a full time maid and barn help, get a few horses, and me and my critters would live happily ever after.
First thing I do is pay off everyone’s debt. My sister’s student loans, brother’s car loan and mortgage, and of course my car loan and mortgage. I think my mom has a car loan, so I’d pay that off, too.
Then I would rent out a Disney cruiseship and fly all the member of my July 98 message board out and celebrate all of our kids turning 13 this coming summer.
If there was anything left after that, who knows.
As things are now, I’d leave it as given that it’d be my SO’s money too (not married, but he’s done as much for me without the windfall, plus I trust him with good reason). I’d probably pay off my mother’s debt, too. Anything else would be on a case-by-case basis. I’d likely help out close friends, family (even those I’m not in contact with right now), possibly some charities, and my old job because I believe in the program’s mission. But they’d all have to specifically ask for whatever it was they needed. I wouldn’t hand out un-accounted for cash to anyone, or finance business ventures without obligation of return, or do anything illegal. I’d be very wary of being taken advantage of, and try hard to keep the income sustainable.
First I’d pay off all my and my extended family’s bills, including mortgages and any upcoming tuitions. Then I buy some land and out buildings etc. which enables me to set up a horse/livestock/dog sanctuary and that has small cottages for the temporary shelter of battered women/children who have pets and can’t find anyplace to stay with them. Then I set up an account of some sort that will pay for operating expenses and a salary of, oh, say $50K a year for me.
Anything left would be squandered on hookers (of the hot, straight, male variety) and blow.