The college thing I've done, paid for...BS in Business Management. Read this post and you'll understand hahahaha. Home is taken care of, as well as a car. Combined, my g/f and I have enough to live very, very comfortably, so I wouldn't actually blow more than $1m. But here we go...
I'd take around $5,000,000 and invest it in different mutual funds, stocks, securities and such. My current stock broker would like that lemmie tell you now.....
$2m goes to my church and to my CAP unit. 1.5 for church, 500,000 for CAP.
$1m goes to buying/ starting a few businesses with high returns (car washes, storage bldgs, oil change places, and real estate), and buying property in different locations.
Around $1m to sit in a 10 year CD or Swiss savings account for emergencies.
$1m goes to a checking account ensuring that we're never in debt for the rest of our lives.
$1m goes to :2 houses (one home and a vacation place on my g/f's 40 acres 65 miles away from our current home)
A little goes into making the Mustang at least 500hp
A truck for me- Ford or Dodge, new or used...Doesn't matter to me
His and hers Mercedes for my g/f and I (S class for her, E class for me)
Possibly a Porsche 911 Turbo
A few guns
With $10m, if you play it right, you'd never have to "work" a day in your life, and the interest compounded off that savings account would allow anyone to live very nicely. Plus, the $5m in the right places in the market would skyrocket.