i am in one of those strange places where I make a decent living, but ended up with a lot of debt (mostly due to divorce) and have to deal with a mortgage and my children going off to school.
1. Pay off debt - credit cards, mortgages, other loans.
2. Put aside money for college for the children.
3. Donate money to some very specific, local, causes. My wife has a community theater group she wants to support, and I'd want to support the local Boy Scout troops, and some other groups.
4. Travel: spent more time working when I was younger than traveling. I'd like to see more of the world. And not just in one-week chunks.
5. Figure out what I really like and then do it. I've been a software engineer for a long time, but it doesn't really satisfy me as much as it used to.