Law Students

Uncle Merv Griffin's Money

By Andrea

A few people have asked the big question: How are we spending the money? I'd definitely want to know if you won that kind of money, so I thought it was only fair to share, since we've been happily discussing it for months. This is an opportunity I am pretty sure we will never have again; even if we someday have a lot of income, it's hard to imagine having the kind of lump sum that lets you achieve multiple dreams all at once. So we wanted to do it right, and be both responsible and fun. We're pretty set on this, but if you have comments or tips on the details, I'm happy to hear them!

I even drew a pretty picture:

- Taxes: Between federal and state, yeah, they're a lot. We aren't bothering to complain about landing in a high bracket in the middle of a recession because of a TV show, so try not to start a political firestorm in the comments :)
- Student Loans: It's not sexy, it doesn't sound interesting in an interview, but there's nothing like it: at 27, Dan is a debt-free man! SO amazing. I paid off the last of my undergrad debt, too, so while we still have my own law school loans, our finances just underwent a sea change. YAY!
- House Fund: My absolute favorite part of all. With these winnings and last year's, we will be house-shopping next year! I used to think we wouldn't be able to until our kids were in middle school. We will have room for a bigger family, a backyard for a dog, and maybe if Dan is very good, a finished basement with a Ping-Pong table. (The man has simple dreams.)
- Emergency Fund: We'll put this somewhere safe where it gains interest, and it may be very useful if there's a lag for one of us getting our next job.
- Charity: We're really excited about this, too. So far a big chunk has already gone to the survivors and refugees of Congo's long wars. The rest is probably going to immigrant rights, the wrongfully convicted,the local food bank, and...we're still deciding!
- Travel and Fun: Well, I think the house is the ultimate purchase, but we're also taking a 12-day fall trip to France and Spain (woo!), going on a long weekend trip to Chicago around our anniversary, and buying Dan a new computer - the new, large TV has already been here for a couple weeks :)
- Misc: A little investment, a little for Becca's college fund, some money I have to pay back to Harvard for this year's loan repayment help, and whatever else we think of!

Full post as published by Peanut Butter Burrito on March 29, 2009 (boomark / email).