I was almost in that position once...  (not quite a million)  and I paid off my debts than handed out money to my siblings and parents. My close friends received some money to clear her debts also and her children received some so they could go buy something for themselves.  I also donated to some charities.

If I had a million now I would pay off my siblings and my morgtage and set up trust funds for my nieces and nephews and my daughter. Then go buy a house somewhere on water!

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Apr. 13, 2011 at 11:20 AM

First if you win 1 million dollars after taxes buy your house first and get yourself out or in lesser debt. If you can put a year salary or 3/4 away in short term savings with ok interest do that, because you may want to start a business or invest. After taking care of yourself and your family, reach out to relatives, but remember you can't save everyone. I try to remember the times I came into money (not  a lot) but it was more than I had originally. It was a blessing. My point is anything you offer out of love and concern for your love ones is a blessing to them. A million dollars sounds like alot, however it really doesn"t go very far unless you make a concious effort not to live beyond your means.

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