Hi Everyone,

I'm just curious, if you won, let's say, 2 million dollars in the lottery, what would you do with the money?

I would buy 40 acres of land, build a house and start a No Kill animal shelter. This is my dream and I'm working on doing this even if I don't win the lottery, although it would happen a lot faster if I did.

Put a down payment on a house, buy a reliable vehicle, and go back to school for social work.

Sounds good to me. Buy that ticket now, you never know.

Pay off bills, go back to school for a PhD in Historical Preservation or Military History, take that Egypt vacation I've always wanted, invest, and set my Mom and brother up for life.

Even without the lottery ticket, its what I'm shooting for! :)

Well if it's a 2 million prize, and you do lump payment, you'd get about 1 million, give or take about 100K. Then, by the time fed and state taxes are pulled, you are left with about 500K.

So the first thing id do is buy condoms, champagne, hire a sitter for overnight, and take my wife out for a great dinner and hit the blues bar. Keep the bar in drinks. Keep the band in drinks. Keep the sultry songs coming until she pulls me out the door to go to the hotel.

Second thing id do is talk to my tax guy and my lawyer about estate planning and especially wealth protection in my later years, as health care is going to get so fricking ugly expensive by the time I retire, its going to be crushing.

Then, with whatever fun money is left after retirement planning and college funds (college costs increase at twice the rate of inflation), and I really don't think itd be a lot, the fun things id do... probably put down some $$ and buy real estate near warm, big water.

If its straight up 2 mil (a little less than what you get with a 10 mil prize, lump sum) things loosen up a lot. All the above, and half of what's left into more business investments, the other half might go into a charitable foundation. I don't think you get that kind of money without a moral obligation to pass it on, at least in good deeds if not in dollars.

That is, of course, after the condoms and champagne. ;)

That's one of the nice things about living in Canada, no taxes paid on lottery winnings, you keep the whole lot, hope I'm not rubbing it in.:p

One other thing I would do with the money, probably before I start the shelter, is go to visit my relatives in Germany. I haven't seen them in almost 7 years and I miss them terribly.

I don't know how much 2 mil would be after taxes, but if I won something like 200 million or something this is what I'd do.

1. tell no one.
2. Get a lawyer
3. Change telephone #
4. Claim my prize.
5. Purchase land and build home in Alaska
4. Give 1 mill to my mom, dad, sister, and grandparents.
5. Make another press release that no one else is getting a penny.
6. Change name and hope everyone leaves me alone.

I think I'd be worried most about people, trying to get the money from me. Look at all those people that were sued after winning and then lost everything over stupid law suites.
I almost think that even if it would be nice to win that money, I wouldn't want to. There's too much money, too much worry. I wouldn't want that type of stress.

Gernald- Good point. It's amazing how many long lost relatives come out of the wood work when you get your hands on some money.

I don't know how much a private little island in the middle of know where would cost, but it's worth looking into.:p

Lottery values are expressed as total payout of an annuity. So a 2 mil payout would translate into a lumpsum payout of about half, from that you take our taxes if applicable.

So even without taxes, you would get 1 mill which might just barely be enough to live on. Figure it would generate about $50K in annual income.

if I were to win an amount like that I would pay down my debt and put the rest away for retirement.

However, if I won a good sized prize, lets say a net of $20 mil. I would take a third of it and set up a philanthropic trust. With that amount I could generate about $250K annually which I would use to fund some scholarships and just look for where I could do some good.

Maybe we should up the ante? Why not say 5million after taxes etc. That's 5 million in your pocket to do with what you wish.

Well, if we up the ante, I'm going to add some Jimmy Choo's...

(High heels, stillettos, sexy sandals, flip flops, tennies... ) :D

Unfortunately, I guess they are allowed to give out the info on who won it. So people are bound to find out. :(

I would buy back the family farm, hell, the whole hollow. And I would do a lot of traveling.

You know what people would say, "She bought the farm!":p

Quote:

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Originally Posted by Gernald

1. tell no one.
2. Get a lawyer
3. Change telephone #
4. Claim my prize.
5. Purchase land and build home in Alaska
4. Give 1 mill to my mom, dad, sister, and grandparents.
5. Make another press release that no one else is getting a penny.
6. Change name and hope everyone leaves me alone.

I think I'd be worried most about people, trying to get the money from me. Look at all those people that were sued after winning and then lost everything over stupid law suites.
I almost think that even if it would be nice to win that money, I wouldn't want to. There's too much money, too much worry. I wouldn't want that type of stress.

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FUNNY. FUNNY. FUNNY.

What I would do? Hmmm... the possibilities. Straight-up 2 million without taxes taken:

*Give my family and loved one a heap
*Pay off ALL debt (credit cards, school loan, car)
*Stash some away in savings/retirement
*Donate to all those who have lost their homes due to Katrina, tornados or any other disaster
*Donate to AIDS awarness and a damn cure as well as luekemia and other cancer illnesses
*Buy ALL the Disney movies possible
*The rest goes to college and my future

If I won the lottery, I'd give the money to whoever it was that bought the ticket.

Quote:

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Originally Posted by Altenweg

You know what people would say, "She bought the farm!":p

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Lol! ;)

Mkay 5 mil straight up, meaning lots of fun money.

Condoms, champagne, flight to warm water. Id "buy" my wife a julio and antonio to keep her in drinks on the beach and keep her feet massaged. After the investments and philanthropy the indulgences would be...

A smaller sailboat with a cabin... something like a 22 foot merit. Holds four easy. Not so big you can't pull it around. Also will need an even smaller one.. 16-18 foot scow or maybe a 'cat... something that screams like the wind and gets you wet, riding just off the water.

Need a couple of cycles. Got a goldwing, but id hafta think about this a bit.

Season tickets in chicago and kc, american football.

Probably a different home. Real estate in Colorado and the big, warm water I mentioned.

And id build a woodworking shop out in the back 40. Spend my days puttering in the shop making furniture. Id also buy a nikon d2 dslr and a bunch of photography equipment.

And most definitely, there would be a cleaning service contracted. I love to cook... maybe even a bed and breakfast like casa de siesta in padre would be fun... but I wouldn't miss cleaning the house one darn bit.

And more champagne and... well, you know.

I'd pay off my parents' house with the extra money, set aside (in trust funds) $20k each for my nieces and nephews, payable ONLY towards a college degree. The money is null and void and reverts to me if they do not elect to finish school by age 25.

I'd then buy all siblings a good computer, and a digital camera, and let them know that no visits should even be attempted without prior email confirmation.

And I agree with the above poster (sorry, I'm too lazy to scroll up) about not telling anyone about winning, ESPECIALLY my friends. I'd also get a lawyer on retainer for spurious lawsuits (about WHAT, I'm not sure, but I'm suresomeone could find something). And the press release (even just intrafamily) about no one getting a penny otherwise would be good, too. I'm not squandering MY money on relatives, dang it!

Dear Sir Boss person,

It is with a heavy heart (and pocketbook), that I write this here note. I will not be reporting for duty, today, tomorrow, the next day, day after that (noticing a trend here ).

You may have whatever items remain on my desk to do with, as you wish. Including, the hot project that you gave me yesterday at 5 pm, and expecting a completion date of today at 9 pm. I probably should let you go so you can get working on it.

Sincerely,
Allheart

p.s. If I read my lotto ticket wrong... can I have my job back :eek:

Quote:

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Originally Posted by Allheart

Dear Sir Boss person,

It is with a heavy heart (and pocketbook), that I write this here note. I will not be reporting for duty, today, tomorrow, the next day, day after that (noticing a trend here ).

You may have whatever items remain on my desk to do with, as you wish. Including, the hot project that you gave me yesterday at 5 pm, and expecting a completion date of today at 9 pm. I probably should let you go so you can get working on it.

Sincerely,
Allheart

p.s. If I read my lotto ticket wrong...can I have my job back :eek:

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I like It!