We've this same discussion & decided that we would pay off all debt, give some to our family & then we would live off the interest, while socking the rest away.
The set up would be that each year, we each would be given a set amount of money, what we did with the money would be up to us, if he wanted to buy a sports car, he would, as I would too, if I wanted to fund animal rescues, I would, just as he could do whatever he wanted to do with his share of his yearly funds.
Neither of us wants to buy a big fancy house, just a nice place, with land, where we could get away from all the people looking for handouts.
