I have thought extensively about this, because of some hardships my family has gone through. Here's a short list of what I would do with the money:
- Pay off our mortgage and student loans
- Buy a new car
- Buy my parents a small dairy farm and the necessary machinery to run it
- Buy my husband's parents a new house where ever they would like
- Pay off my brother and brother-in-law's houses
- Set money aside for my on-going battle with infertility (whether that be funding adoptions or any medical treatment I might need)
- Give a chunk of money to each of my other brothers to use as they would like (preferably to pay off any loans or to finance higher education)
- Get a master's degree in reading instruction
- Set up college funds for future children.
I would probably end up giving some money to various charities as well, but I'd want to make sure my family was taken care of first.