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Post by Bob on Feb 2, 2018 17:35:49 GMT -5
I don't play the lottery. I could probably count on two hands the number of times I've played in my lifetime.
But, just for fun on a day when some of our retirement portolios took a HUGE hit (thanks Donnie!), let's say you were the lucky winner of the jackpot. You have more money than you know what to do with. Name five things you'd do with your jackpot. Let's assume you took it in a lump sum and after taxes, you've netted a cool $200 million. Dream big.
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Post by Bob on Feb 2, 2018 17:53:12 GMT -5
- Set up a guaranteed, tax-free stream of income that would comfortably support me and my wife for the rest of our lives.
- Purchase a 2nd home in England so that we could see our grandkids more often.
- Buy our son a home so that he could move out and end his current marriage and get on with his life with someone who brings him happiness.
- Set up a charitable foundation to focus on causes important to me and my wife.
- Make sure my parents and siblings were financially secure for the rest of their lives
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Post by nkat on Feb 2, 2018 20:24:10 GMT -5
Turn my 37 acres of land into an animal sanctuary. That would probably take up all my money to maintain.
NKat
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Post by Bob on Feb 2, 2018 21:42:10 GMT -5
Turn my 37 acres of land into an animal sanctuary. That would probably take up all my money to maintain. NKat What kind of animals? |
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Post by highlandannie on Feb 3, 2018 3:31:22 GMT -5
In the UK and Europe it is always the entire amount and you don't pay tax. I always play but never feel I'm wasting money because lots of it goes to Lottery grants for the arts, sports, historic stuff.
After giving away money to family and a few friends we would set up university scholarships for poor rural Ugandans.
Then spend on us. See any countries on bucket list. If it was Euro millions would have some second homes.
And a new roof, conservary, and pave our gravel driveway.
Finally, surgery for perky boobs.
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Post by Bob on Feb 3, 2018 17:16:21 GMT -5
I never even think about playing the lottery with the odds being so stacked against winning. But if I ever do win, I'll make sure my ducks are lined up before going public. I read about folks who can't handle sudden wealth and blow it all. My needs are few and beyond wanting to see my grandkids frequently, I probably wouldn't spend much of it on anything foolish.
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Post by birdgal on Feb 3, 2018 17:27:53 GMT -5
Turn my 37 acres of land into an animal sanctuary. If I won the lottery I'd give half to NKat! Pay off house and buy another one in a warmer climate. Buy 2 new cars and one hauling vehicle. Turn all animal shelters into no kill shelters and try to put all of them out of business by educating people about spaying and neutering. Build homes for the homeless. Donate money to every Veteran cause out there. I went over my limit, didn't I? Hey, you did say dream BIG, right? |
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Post by Bob on Feb 3, 2018 17:48:15 GMT -5
Turn my 37 acres of land into an animal sanctuary. If I won the lottery I'd give half to NKat! Pay off house and buy another one in a warmer climate. Buy 2 new cars and one hauling vehicle. Turn all animal shelters into no kill shelters and try to put all of them out of business by educating people about spaying and neutering. Build homes for the homeless. Donate money to every Veteran cause out there. I went over my limit, didn't I? Hey, you did say dream BIG, right? I am not a veteran, but I tend towards helping vets when I can. The Fisher House organization is a great cause and they do wonderful work. |
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Post by 2old on Feb 3, 2018 18:02:15 GMT -5
I spend on the average of $5 each week playing the lottery... well knowing I'll never win. But, if I do, I've got it all planned out.
I would immediately contact each of the 3 kids. We would fill out the paperwork to share the winnings 5 ways. My wife, myself, and the three kids. Each kid would get 20%. My wife and I 40%. Our State allows for split winnings due to office workers, family members, etc. all contributing to that specific week's lottery. Having the kids share in the winnings up front would eliminate them paying taxes if we handed them money from the winnings.
With what my wife and I had left, I would purchase another truck. Her car is almost new. My truck has a little over 70,000 on it and a newer one would probably be the last one I'd own.
We would find a ranch style condo or home in a maintenance free development. Getting too old for taking care of lawn, painting, etc.
Have a two to three week "road trip" we would like to take, visiting some friends and relatives we haven't seen in years. These folks are located from Louisiana to South Carolina to Kentucky to Tennessee to Wisconsin.
Then, make arrangements for the rail trip across Canada. They say that is a beautiful trip and well worth the time and money.
With all that done... go back to doing exactly what we are doing now.
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Post by Kady on Feb 3, 2018 18:11:45 GMT -5
I'd buy a nice shiny new house similar to yours, Bob, a new car every two years.
Maybe a second home in a warm tropical setting, with a beautiful lush garden.
Hire all the maintenance and cleaning help I needed.
Make sure my family had what they needed.
Set up education funds for grandchildren, I like the tax free income you mentioned with whatever is left.
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Post by smitty45 on Feb 3, 2018 19:14:19 GMT -5
Pay off my eldest sister and her hubby's house,,, buy a house for me and mom, and my other two sisters houses. Buy a house for my youngest niece, her hubby and my great nephews plus houses for my two other nieces,,, but one hire a maid company as she isn;t what you would call,,, tidy.... If I had enough left over,,, a few million for Salvation Army, and a few million for St Jude's Children's hospital.
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Post by nkat on Feb 3, 2018 19:40:04 GMT -5
Bob, any animal that needs a home would be in my sanctuary.
NKat
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Post by Bob on Feb 3, 2018 19:44:20 GMT -5
What strikes me as very interesting about all the replies is that none really strike me as extravagant. Maybe it's a testament to our stage in life. A common thread here seems to be helping others and that's nice to see. Helping family and strangers and animals, all worthy uses for a fortune large enough that you'd never outlive it.
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Post by highlandannie on Feb 3, 2018 20:04:10 GMT -5
What strikes me as very interesting about all the replies is that none really strike me as extravagant. Maybe it's a testament to our stage in life. A common thread here seems to be helping others and that's nice to see. Helping family and strangers and animals, all worthy uses for a fortune large enough that you'd never outlive it.
I would get the most pleasure out of helping those who need it - my family - especially sons and granddaughters, a few friends. Help friends in Uganda and give many others the chance to go university like we did for our 'daughter'.
Yes I would see many countries I haven't yet seen and we would never fly in cattle class again. But we've flown business class a few times and we would do that, not first class. That is a waste of money. We also wouldn't stay in 5 star hotels. I have no interest is status cars or status clothes, etc.
It's fun to think about. When my brother has made fun of us for buying tickets we tell him where the money goes that isn't given to winners - we see evidence of it everywhere - arts, music, my gym, the historic church down the road - all get lottery grants. We have direct debit so I don't think about it - a ticket with the same numbers is automatically purchased every Wed and Sat and we get email when we win.
A couple across the loch from us won Euromillions years ago - huge amount. They were surprised that they had to move because they went public and people knocked on their door asking for money. They used some of the money to save the last paddle steamer on the River Clyde which does tours all summer to different islands. They also gave a lot of money to the SNP (Scottish National party) and other causes. |
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Post by TheSource on Feb 7, 2018 18:36:50 GMT -5
In all honesty, I(we) really wouldn't change much about my(our) life(lives). Paying off the rest of the mortgage would be priority next to changing all the phone numbers so the "long lost relatives" wouldn't come a knocking for a handout. Maybe invest in a steel roof for the house, update the windows, re-side the exterior and build a garage for the vehicles with plenty of room for a proper wood working shop for all my machines and tools. Definitely donate some to Animal Friends here in Pittsburgh though.
There isn't much we need or want and extravagance isn't in our nature.
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