Sunday, January 4, 2009

If I Won The Lottery

What would you do if you won the lottery? Let’s say…10 million; I’m talking about clearing 10 mil, not winning 10 mil. Many lottery winners go bankrupt within a few years. I think it’s because they let the money go to their heads and just spend, spend, spend.

Here’s what I would do with 10 million:

1. Get an good lawyer, one that understands investments, etc. Do this and get advice BEFORE telling anyone about the money or contacting the lotto people. I heard this is what you should do, so…

2. Quit my job – now I wouldn’t do this if I won anything less than 2 million, but with 10 million in the bank…I think I could afford to do so.

3. Plan to live off the interest and investments. 4% interest of 10 mil is $400,000 a year… That’s a lot more than I’m making now. This would include, of course, a good money manager.

4. Build a house. Nothing too big, just with what I need/want. Amenities would include:
a. 3 bedrooms (mine in the basement without windows so there would be NO
b. entertainment style with theater seating (this is my big
house splurge), includes a kitchenette
c. gourmet style kitchen
d. Reading room/library for all my books (that I no longer read because of
the Kindle).
e. Sun room/breakfast nook
f. great-room off the kitchen for entertaining
g. indoor swimming pool (this is the other splurge)
h. 2-3 car garage
i. possibly a craft room or outbuilding for all crafts, maybe even a kiln
* nothing huge, no gold fixtures or faucets, nothing too expensive, this isn’t a
mansion, just a really nice house.

5. Buy the truck I’ve always wanted: Brand new Chevy, short-bed, single cab, black, standard transmission, tinted windows

6. Start college funds for the kids (Niece and Nephews)

7. Spend my days doing whatever I want…hanging out with the kids and rest of the family, playing on the internet, take more college classes, maybe even get a second degree in graphic design, read, blog, watch movies, and TRAVEL THE WORD!

8. Give money to the church to help with missions and growth. Also, help support a friend who works in the mission field.

Now of course there are some things I would want, but probably wouldn’t buy because that’s how lotto winners become bankrupt… ‘64 ½ Mustang convertible and/or ’68 Blue Chevette convertible, actually that’s all I can really think of, maybe I will eventually buy the Chevette (it’s the cheaper of the two). It would be hard not to buy stuff for my family and friends. Hopefully with a good money manager, I could set up an annual amount that I could spend on people.

I love contemplating this kind of thing, but winning the lottery is probably not going to happen, especially since I don’t play. Maybe I should start… somebody has to win!

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