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jtwillie1

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What if you won the lottery...
« on: January 10, 2013, 08:36:18 pm »
If I won the lottery. First I would of course claim my money. Then, I would speak to a financial advisor. Next, I would determine which family and friends will get a cut, and how I should invest my money. I would buy a nicer house and car (not too fancy). Would I still work at my job? Yes... I will get bored if I am not working, but I will still try to open up some my own business.

samrhett2

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Re: What if you won the lottery...
« Reply #1 on: January 10, 2013, 08:48:36 pm »
Based on the guy that won 1 million on a scratch off and was poisoned the next day and died, I don't think I would tell anyone.  How sad to finally have a dream come true only to be murdered the next day.  I hope they find out who did it, but it sounds like it was probably his wife.

ricdsm

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Re: What if you won the lottery...
« Reply #2 on: January 10, 2013, 09:51:35 pm »
I don't really want to win large amounts of money.  1 mill would be quite enough for me.  I'd retire, do some things for my family, support a few charities I believe in, and try to live my life as honorably as possible.
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smithjcsdfw

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Re: What if you won the lottery...
« Reply #3 on: January 10, 2013, 10:07:07 pm »
Sounds like Jt has a good plan except for the continuing to work part of the plan.  I would have to be on permanent vacation and unavailable to all but my closest friends and family.

wildequusheart

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Re: What if you won the lottery...
« Reply #4 on: January 10, 2013, 10:17:56 pm »
If I won a big lottery, I'd disappear for at least a week and hire a financial advisor so I could get my head on straight. Then I'd pay off all my bills and set up trust funds for all my loved ones.

If any of you are lucky enough to win the lottery, just a head's up, if you want to give money to your loved ones, don't just give them money. Apparently there are huge gift taxes. There was an article that broke it down when there was that record-breaking Mega Millions lottery, and you can end up pretty broke pretty quick if you give monetary gifts to all of your loved ones. My realtor told me the way around that is to set up living trust funds for your loved ones. No gift taxes, and you get to help them out. Win, win.

Hey, we can always dream, right?  :)

DeliriousKris

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Re: What if you won the lottery...
« Reply #5 on: January 10, 2013, 11:00:31 pm »
I'd pay off any debt my husband and I have, get a new car, put away a large chunk in to savings and retirement, and probably help my mom and sister with any of their debt.

I'd still work though because I'd be too bored if I didn't work. I don't like sitting around all day.

webe4angels

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Re: What if you won the lottery...
« Reply #6 on: January 11, 2013, 01:06:08 am »
I totally would pay off the bills. 

Then we would buy a house.

Put money aside for our future.

Help  our kids...

Then finally take a vaction.

vp44

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Re: What if you won the lottery...
« Reply #7 on: January 11, 2013, 01:23:02 am »
The first thing I would do is collect my winnings, put my stuff in storage then leave town. I know I would set up a trust fund for my. Then take some time to just relax and enjoy life for about a week before I would get down to serious business like buying a home and brand new car, sharing some with my 2 brother's and my nieces and nephews.

laine39

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Re: What if you won the lottery...
« Reply #8 on: January 11, 2013, 02:25:51 am »
 I would travel and have a good time, save some of the money, and share the rest with my family.

tin8604

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Re: What if you won the lottery...
« Reply #9 on: January 11, 2013, 07:03:12 am »
My husband and I always talk about this.  First I would pay off all my bills then set our families up by paying off their debts as well.  I would invest some and then travel some.  Oh and I would buy my dream car BMW 745i

bhiett

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Re: What if you won the lottery...
« Reply #10 on: January 11, 2013, 07:08:12 am »
First, I would tithe the winnings then invest most of the rest in tax-free interest-bearing accounts (after the government gets their cut, of course--may not be too much left).  I would keep my job but take more time off and travel, travel, travel...

articx

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Re: What if you won the lottery...
« Reply #11 on: January 11, 2013, 07:11:01 am »
I would pay my student loans first, then look into investing all or most of what is left.

kay7

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Re: What if you won the lottery...
« Reply #12 on: January 11, 2013, 07:19:17 am »
I don't know exactly what I'd do but I would really, really like to find out  ::)  Of course, I'd take care of my family and be very relieved to not need to worry about money again but I suspect the things I think are important now would be less so with lots of money.


dbsaus1

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Re: What if you won the lottery...
« Reply #13 on: January 11, 2013, 07:32:05 am »
I would talk to a lawyer than a financial advisor before claiming the prize. Prepare for a very comfortable retirement I would have to give some to relatives.  I would  have to be creative about that. I would fix up the house to sell it and than.

I think I would like to travel and just enjoy live.
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bremer51

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Re: What if you won the lottery...
« Reply #14 on: January 11, 2013, 08:02:14 am »
I would help my family out, give something to my favorite charities, and buy an acreage where I could have chickens and a cow.  I would go on an African photo safari.  Whatever is left, I would invest in longterm conservative mutual funds.  I sound very boring.

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