What Would You Do If You Won 10m In The Lottery?

[salamangkero 0]

Hmmmn... 10M sure is a lot of money... Perhaps the first thing I would do would be to disappear from public eye. I mean, c'mon, over here, if you win anywhere near that amount, your neighbors would know. Immediately. Well, it's not that I mind sharing some in celebration but... let's just say I don't have really neighborly neighbors.

 

So I suppose you'd know by now that charity is very much out of the question... well, not really. I'll be sure to spare some part of it for those who really could use some help. The problem with some poor people here is that once you give them any help, they will come to depend on it. It would have been the same if it were them who have won, they'd have squandered it within five years too. So, anyway, the point is, I will be rather choosy in whom I'll give it to. So much for charity.

 

I'll probably invest half of it, just to be sure. I've been eyeing the stock market for some time now and, though the stock market trends aren't too... encouraging these days, I have made it my goal to enter the stock market at the age of 25. It certainly wouldn't hurt if I entered it a few years too early... not with 10M in my purse

 

Personally, I'd move out of the house and try my hand at living on my own. I'd get a manageable-sized house, if possible, although I find it more likely I'll get a condominium unit. No, I won't buy anything too extravagant... like paintings or a piano or porcelain jars, I'd go for a minimalist setup: whatever I won't need, I won't buy... although food might be a problem, though, since I have a rather... uncontrollable appetite.

 

So, yeah, I guess I'd be like those people who will continue working. Only, this time, I'll quit my current job, invest in the stock market and, well, still program and write and blog and do stuff; things I am scarcely able to do with my current job eating up most of my time. Heck, who knows, I just might churn out a couple more lemon fanfics

[anwiii 17]

people wont continue working because they have too much time on their hands. they will continue to work because they love what they do, are confident, and don't want money or anything else to change their life.as for me, i would probably continue to do what i do now with a few changes. one of the changes would be to travel more. i would definately take care of my family and select few friends, and rather than donate money to a charity or church, i would try to start my own non profit orginization...or a couple of them. i would buy a new vehicle, pay off my mortgage and debts, and spend a few thousand on some little toys i could never really afford before.i personally don't need that much money to live on for the rest of my life so even if took only 1 mil for myself, that would set me up for life.people who say winning a 10 mil lottery wont affect their life is lying. first off, you have friends, neighbors and people you don't know calling you asking for money. you will need to know how to manage 10 mil so if you aren't a millionaire already, you will have to hire a couple accountants and a lawyer and a financial advisor. i mean, you can't just hide the money under your matress and withdraw it anytime you need it. you also can't put it all in one bank account safely since all your money wont be insured. people who win this amount of money all at once will soon learn that it costs alot of money to manage a lot of money. also, ones time is more limited at first learning to have that much money if they've never ever come close to having that much.the average person earns about 1 mil over their lifetime so whoever says their life wont change much or they wont allow it, they are lying. they have NO CHOICE but to have their life change unless they decide to give all the money away or burn it....but even so, didn't their life change with that choice they have to live with the rest of their life?the thing to realize if anyone wins a large sum of money is this.....money is nice to have as long as you know how to manage it. money isn't everything though and should never revolve around a person's lifestyle. there are too many other important areas of life that one needs to be dedicated in....especially those things that we sometimes take for granted and the littler things in life that could be a blur in the wind if one doesn't pay attention because one is too busy to appreciate the littler things in life..."littler" actually being the BIGGER so that was a little sarcasm.i will end this with a smart financial fact for those who do ever win over a mil in the lottery or inheratence. it's not so smart to pay off a large mortage like i would do since i just hate debts and bills. reason being. interest rates for homes are so low....average 7% that you can make that interest up by investing it smartly. average 15% if you know how to invest wisely. not only do you wipe your mortage interest rate away, but you're still making 8%. credit cards are different though. should always pay off your cards if you can. so i only mention not paying off a mortgage because alot of people who don't know how to handle their financial interests would opt to pay off their mortage where financially, it isn't wise. far from it. i only choose to pay off my mortage because i HATE debt like a vengance so although i would opt to pay off my mortage, financially it isn't wise. it's my own personal preference to illiminate something i don't want....since i'm not on this earth to make as much money as i can....

[HappyHippie 0]

Hmmm 10 mil Huh! Well I think I would also donate some but not to the church I would have to say that I would donate to the american redcross or whoever those people are that go out and help people put there lives back together after natural disasters such as tornados or hurricanes etc. Probably just a couple hundred thousand. I would then buy my oldest daughter who is getting married in june a nice little house. I would then have to buy myself and remaining kids a nice little house nothing to big or fancy just big enough for us. Then probably a reliable car nothing fancy but something new I have never had a new car. And being I am not a money person either I mean I know you need money to survive but Im saying money doesnt make you happy I am happy when myself and kids have everything we need and bills are paid. So with the rest which should be a fed million at least I would set up some kind of trust funds for my children and maybe keep a hundred grand for myself for a vacation or something maybe a family trip to disneyworld with all the works in the disney motel and all. Man thats a nice dream now I just need to win the lottery. Nice topic though thanks put me in a good mood using my imagination like that to make my family happy.EDIT Oh and bye the way I would keep working I love my job. might have to take a week or two off though for that family vacation.

Edited November 11, 2008 by HappyHippie (see edit history)

[Ruben 0]

I'm so happy to see that everyone is looking at donating to charity first. Well, almost everyone. lol Thank you guys for posting! I love reading all of them.

[joeblogg 0]

if i was working i would quit e

[joeblogg 0]

if i won 10 million in the lottery i would quit my job and have fun with friends, family and by myself. i would buy a cool car and a house and the rest i would spend on electronics and stuff over time. obviously i would need some of that to support my self but getting food and stuff like that. the blissful life!

[iGuest 3]

If i won 10 millions dollarsWhat Would You Do If You Won 10m In The Lottery?

well assuming I win this in the US and assuming I get this in a lump sum, I would pay off my taxes which would be around 50% for tax on lump sums so it would be around 5 million left, pay a combined percent of 10% to Church or Christian organization. After taxes and charity or w/e I would have around 4.5million. I would live in a 2 bedroom apartment( 1 office/gym, 1 sleeping room) by myself, lease a full option m3 and then split the money between JP Morgan Chase bank and Bank of America... Both around 4% interest but I know it'll take a hell of a lot to bankrupt or rob those bans... So ill live off the interest... Which should be more or less $180,000 annually... Now tell me how many people you know personally that makes over 200k a year, so I spend about 1.5k on the apartment monthly, 500 for groceries, max of 1k for clothing and accessories, 1k for for the lease on the m3, 400 for the insurance, 50 for the electricity bill, water gets paid for by the apartment. Its around 4.5k x 12 = not even 60k. Then the interest will stack on those... I don't plan on getting a child on about 28 which then I will buy a house for about 1-2 million... Then when my children all graduate high school and move on out, hopefully around my early 40s, I would travel for a bout 2 years 4 years tops then become a missionary to serve my lord in heaven untill my days are over.

ps: I know I put a lot into this but winning the lottery is kind of my dream... and I do buy tickets consistently

-reply by LiNk

[networker 0]

If I won 10 million in the lottery,the first thing I'd try and do,which would be about impossible,would be to try to keep it a secret.The "Good ' side of me,tries to convince myself that I'd give great amounts of it away.I'm sure I'd give some of it away.The problem with having a lot of moneyis that it also costs a lot for 'security',both fiinancial as in accountants, and otherwise.We all know.Money won't buy happiness.

[rpgsearcherz 5]

I would use the money to help myself, as well as family and friends get through college. I know many very close friends and relatives that are hurting very bad for money, and I would love to help them out.Sadly, at the moment I'm in the same boat as them.As for what I would do with leftover money after they were all stable, I would gladly give away the rest to others who are trying, but are no succeeding. What I mean by this is those who care about their life and try to make it better, but are not in a financial situation to where they can improve themselves.There are many people who are poor because they were born that way, and for various reasons will never be able to earn more than a minimal paycheck.As for myself, don't get me wrong, there are many different things I want in life, but I find that earning it myself would greatly improve my feelings of having obtained the items. I hate when people give me things, because it makes me feel like a leech.

[africa 0]

I would surely not retire coz i do my what i do coz i love it.i would build institutions all over Africa and improve the continent. I would groom all the talent that we have around here and give people a platform to build great products and eradicate poverty in the world.I sure hate seeing people struggling so some money will go into projects that are making good changes in people's lives..to the orphanages, charity homes, etc.And would buy classy gadgets for myself ...a good Apple laptop and a few other personal things!!

[rpgsearcherz 5]

I would surely not retire coz i do my what i do coz i love it.
i would build institutions all over Africa and improve the continent. I would groom all the talent that we have around here and give people a platform to build great products and eradicate poverty in the world.

I sure hate seeing people struggling so some money will go into projects that are making good changes in people's lives..to the orphanages, charity homes, etc.

And would buy classy gadgets for myself ...a good Apple laptop and a few other personal things!!

Lol, skip the Apple laptop and go for something much more high-end. You can build custom laptops for $15k that have dual 3.4 ghz quad core CPU's, two 1 gb video cards, etc.

If you're going for the laptop, take it all the way!

[africa 0]

Lol, skip the Apple laptop and go for something much more high-end. You can build custom laptops for $15k that have dual 3.4 ghz quad core CPU's, two 1 gb video cards, etc.

 

If you're going for the laptop, take it all the way!

I just got a thing for Apple bro. Eversince my first Apple laptop was stolen..i never got over it!

 

No thanks to the high-end stuff, maybe just as a second option. I enjoy an average and not too lavish lifestyle! lol!

 

Thanks for the suggestion though

..rpgsearcherz

[Tks 0]

It's true that money can change a person and his priorities. If I ever get 10 Million dollars then at first I will be thinking of investing the money somewhere so atleast I have a continuous amount generated and I don't really run out of money becuase no matter how much the amount it, it will eventually run out.Then I would be taking a long leave and start planning vacations with my family and other things that are in plan but are usually put on hold due to monetary matters. Helping others would be a top priority and starting a business of my own would be something that I would also be thinking along the lines of.

[iGuest 3]

WILL BE RICH!!!!!!!!!!!!!!What Would You Do If You Won 10m In The Lottery?

The first that I will do if I won $ 10 Million is to donate 1% to the church, street children, poor, abused women, the homeless, unschooled and the paupers and that will be $ 1,000,000.00 since I believe that God is the source of my abundance in life. He owns everything and without Him I could not have won $ 10 Million in the first place. Secondly, I will invest 60% to safe and secure investments that will be around $ 6,000,000.00 (Stocks, Mutual Funds, Cooperatives, Bonds, Treasury Bills, Time Deposits both in Pesos and Dollars, Savings Deposits, Real Estates - Land, House, Wealth Multiplier and a modest Hotel). 20% will be set aside for a share to my love ones (daughter, wife, relatives and friends) that will be $ 2,000,000.00 and the last 10% will be set aside for traveling - tours in Asia, U.S.A.(Hawaii, Los Angeles etc.), Europe and Iceland. After accomplishing these goals then I can just go back working in my company so that I still have something to do what I really love to do every day of my life.