With the lottery at an insane $700 million, it really got me thinking. I'm not big into lotto, but if you were to play and win, what would you do with it?
It's actually a pretty scary thought. Even after taxes, you're looking at around a 400 million dollar lump sum. I know I would tell almost no one right off the bat. I would contact lawyers and professionals before I went public. I own my own home and its in a neighborhood I trust but with that kind of money I am taking no chances. I would stay in an undisclosed location with only close close friends or family.
First thing I would do is map out a game plan. Give myself x amount of dollars to play with, but not rush into lavish spending. I would definitely pay off my house, car, and any debt. I would pay off the houses of my father and give my grandparents enough to make them never stress running out of social security or savings ever again.
I would likely rent my home and buy my brothers and nephews a home after some budgeting etc. I 100% would relocate to an upscale gated area that I felt safe in. My security system would be extensive and expensive. I would def purchase a nice new car, but nothing insane. One does want to treat themselves. New wardrobe is a must. Love suits. I wouldnt go insane with the new home purchase. Something with a couple stories pool,hottub and some land.
I would treat immediate family and friends to a vacation and take a close friend to a dream vacation destination. Australia cage diving with great whites comes to mind. I'm a huge baseball fan and would likely have a baseball field put in my yard and have a wrestling ring and elaborate gym put indoors with a sauna.
I would 100% invest 10 million right off the bat would be untouchable for years amd a large chunk would be put somewhere that the interest alone will allow me to live the rest of my life. Im not someone who enjoys living alone so i would def have a trusted friend live for free and allow them a budget for spending so they dont have to work ever again. What good is money if you have no one to share it with.
Charity would be an absolute certainty. I would choose wisely and pick ones where the money acrually goes to the charity. I know some people would want to continue working, I am not one of those people. I have a close friend who i would pay to be my fitness and nutrition trainer full time. As much as this sounds like massive spending, all the homes wouldbe investments. They would pay the utilities and taxes etc, and 5-10 years down the road I would collect the profits.
I could see myself with the homes everything spending a couple million quickly. However, I would figure in interest amounts, investments, etc. And budget it to where not only myself, but my kids and nephews, and close is set for life. Im not a big party animal and am very good with money.
Traveling the world is a guratee. A large house boat is a must! Not a yach, but maybe something in the 50 foot range. Being bored with that kind of money and a huge world out there is not happening.
I know this is unlikely to ever happen but hey, its fun to think about. What would you do with the winnings?
I've heard that research shows that people who suddenly make a ton of money say from winning the lottery, has an increase in wellness for about a couple of months, before declining to the level they had before.
The same happens with people suddenly being disabled after say a serious accident, the feel a lot worse for some time before rising to the same level as before the accident.
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Yeah you def have to keep busy so as not to srop morale. I think traveling and keeping busy is important. Not working to some sounds awful, but I would love to never work again. Money doesn't buy happiness, but it buys me things that make me happy haha
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