What Would You Do If You Won the Lottery???
Moms View Message Board: General Discussion: Archive January 2004:
What Would You Do If You Won the Lottery???
DH and I saw on TV tonight, where a lady won 23 million dollars in the lottery. That is an unimaginable amount of money. What would you do with it?
He and I discussed some of the things that we would do. First, I guess we would find an excellent financial planner to help us manage and invest it. We would want to establish trust funds for all three of our living children, and any future grandchildren we might have.
We would pay off DD and her Hubby's mortgage and car payments.Then, we would give a large amount to our church.
Since we are middle-aged, there is not a lot that we would need. I guess a long-term care account would be prudent, to take care of us if we need nursing care when we are older.
Except for maybe new carpeting, and a sunroom on our house, we have no real 'wants', or even 'needs'. God has been good to us, and provided a modest home, and all the material things we need. We have travelled, thanks to "Uncle Sam".
Without sounding self-righteous, or pious, we WOULD be thrilled at the amount of GOOD that we could do for others. We could even invest our money in a foundation that would make the gifts to charities PERPETUAL!
Our favorites would be: The Salvation Army
Adoption Rhode Island
Episcopal Charities
The ASPCA
The Humane Society
Oxfam
Traveller's Aid
St. Jude's Children's
Hospital
Amnesty International
We would also like to set up a fund, so that anyone needing serious medical care, such as a life saving operation or an organ transplant, would not have to go without because they have no health insurance.
It would just be so AWESOME to be able to leave a legacy of comfort and help, long after we are gone.
I guess the possibility of winning is pretty remote for me, since I seldom buy a ticket. DH does, tho, and checks the numbers every week.
I am old enough to remember when ALL forms of gambling were illegal, except for para-mutuel betting, and bingo games in Roman Catholic churches.When I was a child, I remember people playing the Irish Sweepstakes. My parents raised me that, the ONLY money that would do you any good, was money that you earned with own hands.
In the 1970's, state lotteries became legal, and has made multi-millionaires out of ordinary people. (I'm always thrilled when a person wins who had a menial job, or was homeless).I guess it's a "grey" area, whether it's morally okay, as long as you do GOOD with it.
Any thoughts?
Buy a house in a warmer climate 
Throw away the non-profit status for the girls group home we are starting and use our own money to start it
Purchase a new property for the private school my daughters attend, something with a lot of land on it.
Get 2 new vehicles because ours is 13 and 9 yo.
Start somthing in our area for low-income families, more food banks, clothing banks and toy banks and money for utilitie bills. Not much in our area and it is sad.
Give to our local homeless shelter that has just started up in December and I don't know if they will financially make it!
Pay for a ticket for everyone and their families at momsview and motel/food/transportation for a week so we all can meet and have fun together.
You should've got me started Hol! Although I read a report where over 1/2 of all lottery winners file for bankruptcy Apparently they forget about the taxation part!
I would also like to travel, dh wants to go to Ireland some day and redo some things in our house.
As for charities,
a huge gift to Hospice for what they have helped do for me and my families
Humane Society
I would start several scholarships at the children's private school.
A couple of our local churches
The list is to long and my memory too short. So many people you could help with such money!
I would buy houses for myself, my mom and my dad. Cars for me, my mom and my brother when he gets older and not so reckless. I would buy a vacation house in North Carolina.
I would put a big chunk away for college funds my son, any other potential children I may have, my brother and grandkids. I would pay off all student loans and open a restuarant.
I would give some to my old high school with the exception none of the money could be used to fund sports. It would be used to offer more classes and to support the band.
I would also donate to Riley's Children Hospital and the IU Med. Center both of Indianapolis. My son stayed at both hospital's when he was first born. I give back to them as much as possible, the do awesome things!
The very first thing I would do is tithe 10% of it to my church. We could pay off the new sancturary we just built!
Then I would set college funds up for both of my kids. Pay off debt that we have. Buy a house here in town that I am so totally in love with! Buy new furnishings for that house.
And then probably invest the rest.
I would love to not have to work anymore!
I may be mistaken, however, they pay you in payments when you when the lottery or you can take a MUCH smaller amount in full. Therefore, that lady will be probably long gone before the money is all paid out (maybe) and I believe in law when you die, it is NOT passed on. Again, I may be a bit off, but that's what I recall from my legal work in the past. But -- that's not to say it would not be great to get the payments. I would love to help people. That's my love in life and ask God to show me where it should be spent.
P.S. Taxes are also quite high. I feel for people on these gameshows who win cars? The taxes, luxury, etc. they pay -- if you don't have it, it isn't worth getting the car!
I would build a house in the country on at least 5 acres with a large wrap around porch on the top and bottom. One of those old houses that have a fireplace and bathrooom in every bedroom. Oh and it would have a huge attached garage. Also Iw ould give Rich the Polebard he has always wanted so he can work on cars. And he would get a new car to replace his over 10 yr old thing he has now. I would pay off my parents, brother and sisters debt and buy them each a nice new house and each a new car.
Put away for the kids college and any possible grandkids that might come up.
I would help the homeless in Detroit by helping to build more shelters and food places.
I would save and invest a bunch.
Pay the taxes off on my winnings of course.
There is probably allot more I could do but i cannot think of it right now.
Buy my retirement home at the beach.
Make sure my mom is taken care of.
Pay off all our debts.
Pay off all the kids' tuition loans.
Set up a college fund for Madison.
Help a few close friends who are struggling.
Hopefully invest wisely so I don't have to struggle after I stop working and can afford to pay for our medical care! LOL
Oh how cool would this be?!! LOL
I would pay off all of our bills. (which really aren't that many...just seems like a lot at the moment)
Build a beautiful home on 2 acres right here in the same town we are in now.
But 2 new vehicles. (one SUV, and one jeep or truck for DH)
Buy new ATV's.
Donate to our church
Donate to the local schools
Save and invest for college, retirement etc.
Marg...I really hope you win, so that all of us momsviewers can get together!! LOL that would be very cool!
I don't play the lottery, but sometimes I wish I did!
Got a quick story.
We were driving through a small town, saw the lottery sign (at a liquor store) and told him we should stop and buy one (about 7-8 years ago). He said no, guess what a man who lived less than a mile from my mom, we know him, bought a ticket at that very liquor store within the hour we passed it (not kidding), did not pick the numbers, he let the machine pick it and he won 11 million.
BTW Robin, I would pick an exotice place for our get together, Bora Bora, Hawaii, Key West, anything warm and sunny
Of course Marg ;)
I would worry!!!! I always worry about money ( not having eneough) then one day I was thinking about winning the lottery, and I started to worry, as my dh, would give the shirt off his back to his family, aunts uncles, etc.. He has even told my friends that if we win, he will look after them, that they would not have to worry about anything again. I ,not being so generous, told him to stop that or he will have a ton of people at our door, if we did win. My biggest worry is controling where the money went. But if we did win, I would get a house built out in the country, and have some cabin's on the property, and rent them out, something like that.
If I got a lump sum, I would pay off our house and my car and any debt. I would take a long vacation to get away from all the people calling the house for money. LOL! Then, after that, who knows! Karen's list sounds good though.
If I ever won it would be a miracle because I never play! lol Dh does buy the occasional lottery ticket though. I think the most he's won was $3. My brother won $200 on a scratch off once. Anyway, I'd build my dream house on enough land to not have neighbors on top of me and with enough room to have a barn, stables and horses. We'd also help out family with their financial needs. I'm sure there'd be more, but I can't really narrow it down right now.
Interesting discussion about donating/tithing to churches. About 5 years ago I was at a church function (don't remember what) at a person's house and the pastor was there. We were talking about the lottery because at the time it was HUGE!!! The question came up that IF a church member won and wanted to tithe 10% would the church accept it? The pastor kept his mouth shut for about 10 minutes to let us discuss it. He then voiced his opinion. He said, No--if it were up to him the church would NOT accept the tithe. It goes back to gambling being wrong, etc. We decided it would probably split the church and with that particular church there was no way the church would have survived a split (only about 25 members and 65-75 in attendance each week). I'm sure some would just accept the money and not have a problem. But others definatly would. Just a thought.
Well, I am sure I would do all of the above especially getting together with my "life savers"!!
I would feed the poor, here and abroad....
I would open my own school, with gym, music, and art everyday and fresh lunches. This would also include allergy kids would have a special menu.
It would be k-12, and if kids are not challenged they will be...if kids need help, they get it specified to their needs.
I would go to Ireland with my entire family. That is the only place I wish to go.
I would add on to my house and build a indoor pool with diving board and slide with a retractable roof.
I would also hire a maid for the house and have an on call babysitter.
I would set up a fund for older people that can not afford their prescriptions to be able to get them for free.
Build a new house with a first floor utility room, a master suite with bathroom, and a den so I could sit by my computer in a much warmer room than my basement! We do have the heat vented down here and have a little space heater, but sometimes in the winter it can get soooo cold down here.
Also, I would like to take a trip to Europe and Canada to meet the people on my of my email lists!
My and husbands life long drive would come true.....We would buy a yacht and sail away.
Everyone in our family would receive a portion
to use however they desired.
We would get in our yacht and travel.
Imagine how much the kids would learn by traveling?
Oh well, we are working towards this dream and intend to do this when we retire so SOME DAY lottery or not we will be on that yacht!
I just hope I am not too old to enjoy it. LOL
Buy a home for myself and move my parents somewhere else too. Begin a business that I have dreamed to start and hopefully will soon, although with more money it would be much better and I'll have the means to publish myself everywhere. I'd like to just take care of my family in all ways..cars, house, lots and lots of massages and just be relaxed.
One of the nice things about living in Canada is that lottery winnings are tax free so I'd get to keep the whole wad!!!!
I would build my dream house...two stories with a garage and a wrap around varenda. I would get it professional landscaped as well.
I would donate some to charity. I would like to invest a large chunk into research for scleroderma. My mom died of this disease and they don't really know anything about it.
I would get a new car...a VW disel and hubby a new truck.
I would build a nice cottage in Nova Scotia so we could go there in the summer and if relatives wanted to visit they could.
I would pay off my sister's debts and my brothers new house and I would buy my sister a new car. I would buy my grandmother's house so she could move to something smaller and not have to worry. Then I would buy her a fortune of taxi tickets so she didn't have to drive if she didn't want to.
I love the idea of all the Momsview gang getting together.
Oh...to dream!
Dawn..I'm with you here in the basement with my little space heater! lol...too funny
On the subject of pastors...our pastor said that a limo pulled up in front of the rectory late one Saturday night, and a man got out and rang the doorbell.
It seems that at one time, the man had come to the church, desperate, because he had foolishly gone to one of the casinos, and lost money that was needed for his family's esentials. The church helped him as much as they could, (he wasn't even a member).
Well, I guess this particular night, the man WON BIG, and came to pay back what the church had given HIM! The pastor said that he accepted it, so that someone else in need could be helped.
It kind of reminded me of the ten lepers that Jesus healed, and only ONE came back to say "thank you".
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