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What would you do If you were to suddenly win the lotto?.


kvnchrist

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What would you do If you were to suddenly win the lotto?.

 

Would you burn through it and leave nothing behind. Would you share it with your friends and family, or place it in a vault and live off the interest.

 

I think I would more than likely, get a financial planner, so I could do what I wished with it and grant the government as little as possible. I'd split the money up into thirds.

 

The first third would be mine,

 

The second third would be distributed to my close friends and immediate family and

 

the last third would be invested.

 

The invested portion would be for the future, so If those family members of mine ever blow their money, at least their children and their children's, children would have a chance to go to college and have a chance, that their parents didn't give them. The continuation of this would be determined by the grade levels each would have to keep and there would be a limit of 10 years paid schooling, followed upon graduation with a small sum of money to help them get started.

 

I don't believe in having an extened family that thinks they are entitled to stuff.

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Depends on the amount.... but, given sufficient volume of dollars.....

 

Pay off all of my families bills. Also provide 'gifts' at the maximum non-taxable value possible. (currently, about 64K dollars) (family includes my immediate family, parents, brothers, and also my ex-wives, and their new families.)

 

A selection of my friends would also get the max non-taxable gift.

 

Take a chunk of it, travel the states, and figger out where I wanted to retire to. Buy some land, build a house... (or buy one, if I found what I wanted....)

 

Slam the rest into various investments, and live off the interest. Donate to charities as I see fit.

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Put it in a saving account, take half of it out and use it to what he said above, and then retire on my new found riches.

 

The longer you have more then a million$ you have in the bank, the more money you make off of the interest.

 

in 6 years you can make twice the amount you won.

Edited by Thor.
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