Let me start off by say, "Good Question". I would first speak to a financial advisor to determine how I should invest a portion of the money so that it could hopefully grow continuously, so that I could always continue to invest in the following: Helping homeless families(shelters), feeding the hungry, Animal shelter, Donate to Groups who are helping orphans. I would also donate to the Diabetes, and Cancer research. And I can go on and on. The goal is to secure a way to make that initial Million continuously grow so that I can always give to others who need it......including myself and my family. :)
To be 100% honest with you, and I hope this doesn't sound selfish but I would definitely take care of our personal financials first. Then I would buy some extra special things for my children, husband, myself and my close family members & friends. I would also be able to put a good chunk of it away for our children's future. 1 million is enough to live contently while still working but not enough to live comfortably with for the rest of our lives.
I would buy a house, top up my pension fund so I could retire in 3 years (so I can spend more time with my family rather than working my butt off), Then I would invest the remainder in a high interest bank account (seems the best bet at the moment) and once a year divide the interest between charities of my choice - that way they get a continual line of support rather than a one off payment. I may also give some to family members, but we all seem to be doing ok at the moment so they do not really need it.
I would pay off all my mothers debt, and I would by a house, pay it off and start a company. After all of that I would take half of what's remaining and put it away as a nest egg.
I would pay off my bills and that of my family. I would donate some to the sites that provide services for free but accept donations. I would adopt a bunch of homeless pets. I would buy a new car and a larger home with lots of land and a barn to use for shelter for animals. I would buy that hat for MamaCass, and a ticket to the Nascar circuit for Nascarnut. I could go on and on, but I won't. Thank You all for your kindness, I am outa here.
I'd pay off my student loans, build two retirement houses (one in the Philippines and one in the good ol' USA), and invest the rest in a diversified portfolio targeting aggressive growth. Then I'd make my mom, my sister, and my wife equal beneficiaries.
Basically, I would start a company to invest in the business plans of
my friends and family. It would give everyone an opportunity to get out
from under the corporate thumb and help the whole community at once.
Well I would first take care all I owe and purchase a home for my mother. I would then find out what familys are in need or have gone thru a big lost. And then buy me some things and save the rest. I wouldn't quit my job like some people do which is dumb.
I look at it this way only the rich win and get richer, because the poor would look out for others.