IncrediBILL is right on the mark
"SAVE YOUR MONEY WHEN YOU MAKE IT!'
When times were flush we first considered building a new house on our property and tear down the 150 year old farm house we live in.
Instead we decided to pay off all our outstanding debt including my wife's, and our oldest daughter's college tuition and banked for our youngest tuition.
Then we poured the rest into paying down the mortgage, into CD's and IRA's and into other liquid assets.
Times are not so flush right now, and if we would have taken the first choice, it would be disaster.