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If you hit the lottery.

 

Silver Member
Username: Skdooley

Roanoke, VA Usa

Post Number: 981
Registered: Oct-09
What would you do if you hit the lottery?

The first thing I would do is take care of my parents. They've worked hard most of their life and I'd make sure they'd never have to work again. Second is I would give some money to friends and other people close to me. People who have helped me out or just always been a good friend to me. How much to each person depends on how much I won overall and what kind of a bond I had to each person. Next I would travel. Travel the US and then the world. I'd want to see as much as possible and experience all there is to do in life. After coming down from that experience I would decide on a place to settle down and buy a home. There I would finish my college, get a degree and get help on how to invest some of my money so that it will grow and be there for my family when I'm no longer around. I would probaly live my life doing hobbies and helping out the community and people however I could. I would try to live a positive life and live worry free.
 

Diamond Member
Username: Wingmanalive

Www.stainles... .ecrater.com

Post Number: 23227
Registered: Jun-06
Being rich and worry free don't pair well with one another. With it comes major responsibility and headaches. Most who aren't used to having money don't possess the discipline to keep it. You see it far too often in celebrities and athletes. Their saving grace is that their source of wealth is usually a constant one, except for the athlete who retires early or sucks balls. It all depends also how much we're talking about here. Do you hit for 2.7 million or the powerball for 200? In today's world being given one million dollars doesn't mean you're done working necessarily, especially if you're under 30.

That being said if you're frugal the money CAN last, it just depends on you're intentions and if you trust your accountant. Again if you hit for 100 mill then you can VERY comfortably live off the interest without touching the principle. However the extreme urge to splurge will overtake most everyone. A fool and his $$ are soon parted. Real estate always used to be a good investment but you have to extrapolate the incurring expenses/taxes that property will cost you even though you may own it outright for the years you plan on living there. The taxes alone on a million $$ mansion in a prime market region can set you back 10's of thousands a year easy.

As a one time generous gesture to my immediate kin I would personally pay off all their debts. It wouldn't be a revolving door mind you but a one time deal. They would understand that it ends there. I would also (depending on the amount) set aside a percentage for my kids in some secure form. Trust fund or something. Regardless of my stupid actions their share won't be touched. I wouldn't buy a mansion but definitely a more comfortable home with acreage enough for dirt bikes and crap. Not in LA either but in some quiet suburb away from earthquakes, volcanoes and hurricanes. Of course I would invest but not aggressively. I'm not a high roller and don't need the $$$ for that kinda life. Lastly I would like to build a fantastic sports park. Nothing Bill Gates lol but maybe two pristine baseball fields, football/soccer field, playground and concession stand. Build it in a central location where such a field is needed. I would dedicate my time maintaining the fields as a profession (again assuming the winnings are major enough to retire). I would still drive a pickup, drink beer, go bowling and everything else I do now. Oh, and my annual turkey drive would be one for the books lol.


And I'd buy a orangutan, cause orangutans are fucking cool. Yeah.
 

Gold Member
Username: Joebruce

TC Sounds/DLS

Post Number: 3076
Registered: May-04
I would do something like this.........


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Gold Member
Username: Pitbullguy

The Chicago area

Post Number: 4563
Registered: Oct-06
 

Gold Member
Username: Southernrebel

Monroe, Louisiana Team Audible...

Post Number: 8191
Registered: Mar-04
-Pay off all my bills and my families bills.

-Buy a reasonable (not $100,000) vehicle for any of my family that needs a car. (No Lambo or caddy, cars that they would NEED)

-Buy a nice house, not extravagant.

-Take 10% and live off it and play around a little...no trip to space for me, but a ride in the vomit commit or F14 Tomcat or Mig29 Fulcrum would be fun.

-Put the rest in CD's or high yield accounts.

-Live happy and have my family live happy, not rich.
 

Gold Member
Username: Pitbullguy

The Chicago area

Post Number: 4564
Registered: Oct-06

quote:

Second is I would give some money to friends and other people close to me. People who have helped me out or just always been a good friend to me. How much to each person depends on how much I won overall and what kind of a bond I had to each person.



That's a dangerous proposition. What do you say when Cousin Tommy comes to you and says "Hey, how come Uncle Bob got 20 thousand, and I only got 10?"

I'll have to think long and hard about that when I have that much money to throw around. I think the right way to handle the "spreading of the wealth" would be to focus more on helping the people you love with their NEEDS, rather than just writing checks for people to go nuts with. As much as the latter seems like fun, I think that's why so many lotto winners end up with torn apart families filled with jealousy and betrayal. There's actually a new TV show (the name escapes me) that details the stories of all the negative fallout surrounding lotto winners. It gets pretty ugly.

Of course I'd want to give the ones I love some amazing gifts as well, but I think it'd be better to give them GIFTS rather than just a bunch of money.

As far as what I'd do for myself, I would initially...

1. Save and invest the majority of it.

2. Use a portion, relatively small to the overall amount won, to stimulate my poker bankroll.

3. Travel like crazy. Like all over the world.

4. Buy my dad a new place, with a huge yard for him to take care of and let the dogs run.

5. Take my time deciding what else to do with the money. I'm only 25 (as of today; happy birthday me!), so why rush into anything.
 

Gold Member
Username: Livin_loud

MW2 Addict

Post Number: 3176
Registered: Jan-06
let's say i hit 20 mil.

- first of all house for myself. 1800sqft would be more than plenty, but i would have nice sh!t in and out of it. would have a hell of a home theater and stereo. gota have a killer drum kit with some guitars too. probably a small recording studio to match as well. safe guess of $400g.

- surprise my mom by using a "rental" car and taking a drive to "pick up my friend". then reveal it's her new car and house. then drop her $20g, cash, for fun.

- hook my bro up with a mid-size suv, pay for school, etc.

- my dad has enough so just drop him like $50g or so to enjoy.

- of course take care of family/friend debts.

- build my dream Supra and system in a Tahoe. probably pick up a BMW S1000RR. get a few liter bikes for my good friends.

- since i am intrigued by wild cats, have around an acre enclosed area for some. not like pumas or tigers, more around savannah cats and such.

- lastly give away free sh!t on E once in awhile, sub here, amp there, components, etc.


i would live off the rest by using a few mil to open stores of different types for steady income, invest a few mil to try and bank some, and keep the rest safe in case its needed.






did i mention my secret green house in my basement? or my strip club with the pile of c0caine in my private balcony?..
 

Gold Member
Username: Th3pwn3r

I compensate...

Post Number: 9654
Registered: Jul-06
I'd take the money over the however many years and put it in the bank. I'd finish building my project CRX, buy a house right outside of Chicago and I'd go back to school, work a part time job and start up a business that I have in mind.
 

Gold Member
Username: Redliner

Wilmington, Ma

Post Number: 5117
Registered: Jun-05
Id build my own house. buy my porsche the wife whatever car she wanted. Help out my dad with some bills and save the rest for vacations and kids when I have them still work everyday and live a normal life just relaxing more stress free.
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