Richie Rich?

The question of the moment is: What would I do with a million tax-free dollars?

Yeah. I know. Cheesy question, right?  The classic daydreaming question.  Well, it's what popped into my mind, so there.

My husband and I have discussed this scenario many times, so I have some ideas.

First, I would take care of my family's basic needs: buy a better home with more land and pay off all the old bills.  So, let's say I budget in $250,000 for the home, and $50,000 to pay off old bills.

That leaves me with $700,000. 

Next, I would add a tornado shelter and very secure fencing all around my new property, thus ensuring my family's safety.  I'd also add solar panels to the roof so we could have a clean energy source and save on the electric bill.  Let's cap the amount for this at an even $150,000, just to be cautious, because I'm not sure about the cost of solar panels.

Of course, I would help my parents out in some way . . . I'm not sure what they would agree to take from me, but I'd be willing to spend up to $50,000.

I have two young sons, so I would set up trust funds for them, $25,000 each.

Okay . . . $450,000 left . . .

I'd donate some money toward researching various diseases, especially the ones affecting children: probably my local children's hospital and also St. Jude's children's hospital.  I'd also make sure some money went toward researching so-called "incurable" diseases.  Oh yeah, and I'd give money to some foundation like Make a Wish.  Anything to lift the spirits of sick children.  $150,000 here.

The rest I would try to save as long as possible.  Oh, I'm sure I'd buy some things for myself, but I wouldn't go crazy with it.  I know that money can buy lots of things, but it can't buy love or happiness.  As my very wise friend told me recently: "You have to be happy with yourself, accept yourself the way you are."  No amount of money can change a person's innate sense of self.  That has to come from within.