What Would You Do If You Won The Lottery?

I'd fly my dog to Colorado on a private jet for gamma knife radiation!

Next I'd buy a house, and then pay off my siblings' student loans and my parents' mortgages -- all fairly modest debts. I'd probably donate to a scholarship fund or two that I benefited from long ago. I've often thought that would be the right thing to do, if I had some substantial money to donate.

And then I'd hire someone to advise me on what to do with the rest.

Buy Carty's job and sell it...wait someone in Illinois tried that

id pay off my debt, paint my house, fence in my yard, take my wife on a vacation and get back to work.

"I'd fly my dog to Colorado on a private jet for gamma knife radiation!" Thats really sweet jmleong! If i won, i'd fly both you and your dog there. 8-) Then i'd retire.

• Buy a dedicated server to power this Web site.
• Open a new theatre in downtown Toledo for original plays that are performed by paid professionals.
• Buy land in the Oak Openings Region to save it from development.
• Buy land in the Great Black Swamp and manage it for shorebirds.

I would pay off my parents mortgage. Send them on the honeymoon they never had after being married 43 years.

Help my sisters out.

Save money for my child and college.

Help organizations that have helped me thru the years...United Way, adopt a few families for Christmas, Help a few families that need utility help.

And take 3 consecutive family vacations..Disney, Hawaii and Las Vegas.

I asked myself that question years ago and decided I'd anonymouisly create college accounts for all my friend's kids. But, now that they're grown, screw em, I'm talkin Ferrari!
Not really, nothing much would change. My wife and I would rather have experiences than things, so, more travel.
I'd find some young struggling tax and finance kids to bring along for the ride to get them started.
Plus, my favorite charities would get a boost as well as my favorite bar tenders!

I'm never stupid enough to play the lottery.

It's called a "Voluntary Stupidity Tax" for a reason.

Donate to jmleong's dog fund.

Afford to get married, and have a kid, setup a trust fund for them.

Pay off my family debts and give my mom enough to retire and buy her a house near Port Clinton.

Get my inlaws a modest farm and a John Deer tractor.

Donate to various local organizations.

Open my own used book/coffee store.

With the rest dump 5% into checking, 45% into CD's or a decent interest savings account, 25% in a conservative mutual fund, and 25% in a I don't care super risky mutual fund with good growth potential.

Oh and host a huge party for all of TT, catered and free shuttle service.

Buy a Jet, a Ferrari or 2 , a yacht, an island, a mansion, a couple of tickets on Starship 1, a football team, pay off a politician, the royalties to the Beatles music, a bridge in AZ., and a 1000 cups of Biggby's coffee. Then I would sell it all because I would be broke!

I wouldn't have to worry about selling this house to pay of the mortgage on teh new one. cash deal, done.

the hub and I decided long ago that we would gift $10k to everyone in teh family, both sides, for starters, no strings, then maybe set up some kind of trust fund. we both have siblings that have been treading water their whole lives and just barely have their noses exposed...we'd get them up on dry land first. new cars for those with old ones, paid off mortgages or new places to live without absentee slumlords controlling their futures. paid off college debt, investments for those with their own businesses, tuitions for those just beginning theirs (or re-beginning). so many ways to make our families lives easier, we would never run out of ideas. I have 20 chances in each Mega drawing as part of an office pool....one of these days.....

Molson for everyone!!!!

Seriously though, I would make sure all my siblings can retire, Pay my nieces and ex step-children's way through college, make sure my mother was comfortable in her late years, buy a nice house (nothing extravagant), get rid of the mini-van, move out of Toledo, take a trip to Australia (because I always wanted to), make a large contribution to the Old Newsboys because I never forget how they help us when I was a kid, hire a Financial Advisor and invest my money in something relatively secure like Mutual funds or something, the create a trust for all my nieces and nephews. I probably could play a really good Santa this year! :)

And KrazyKat how about a scholarship for Bowsher Grads? I will chip in.

Done Deal!

I'd work on something to develop jobs within the region. Start my own business and/or invest in other local companies. (Would carefully investigate first, of course. Diversify my money in different types of business/industries.)

I'd still donate to charitable organizations, especially the ones where I currently donate time and/or money. But, I think creating new jobs would help charities as well. (More people working and becoming economically stable = more people to donate time and money to worthy causes.)

I'd leave my current job, after I had enough time to adequately train a replacement. It would be hard to do, because I like my job. But, by leaving the 9-5 office grind, I'd have more time to participate in activities at my kids' school.

I'd still "work" (see above re: volunteering and carefully investing in businesses, etc.). However, it would be nice to set my own work schedule, so that I can build it around my kids' needs.

Wouldn't change my lifestyle too much, because I'm pretty fortunate now. There isn't really anything else that I "need" - it would be nice to occasionally take advantage of a few "wants" though, and help others along the way. :)

First I would set aside enough for all 5 of my kids to go to any college they got into. I would then buy a vacation home out in Colorado,
I would start a non-profit organization for needy children in the U.S.. Plus, I would finish fixing up our home.

Then I would also give each of my close friend's kids 10,000 each to start a college fund. I would then clear any of my brother's debts. My parents already retired early well off so they are set.

The rest would be invested into something that would make me more money.

I'd..., rather my lawyer would collect the winnings on behalf of a blind (educational, or some other kind of tax exempt) trust, go back to school to learn about investing and you can guess the rest, because I ain't telling no one, not even my kids or my best friend.

However there would be financial distributions..., anonymously, of course ;-)

Sort of a modern day John Beresford Tipton (look it up).

I would endow scholarships at all the schools I attended for students who come from a family where the father had died.

M O V E

Buy a Harley, a gold handled cattle prod and 500 Seconals. Ride out to LA.

Pay off the mortgage, buy a bunch of plants for the yard, and probably give most of it away in scholarships and charitable contributions. A person could bring much good to the world with tens of millions of dollars to donate to worthy groups and individuals.

You know, thouh, in some ways I hope I never hit the lottery - life for me is fine the way it is, and the sudden acquisition of filthy lucre might change me into a greedy, selfish monster.

madjack, LOLZ!!!!

If you live in Ohio, the net payout, after taxes taken out, is, tada.....$141,450,000

I'm actually curious to know how much of that each person here would keep and how much would they give away.

I'll start---$15 mil for wife and I, $15 mil trust fund/college fund for each of two kids. So, I keep $45 mil total for 'me'.

That leaves almost $100 mil to give way to family, friends, charities, whatever.

Of course, I'm guessing I'd be paying someone a pretty penny (mil or two?) to manage and distribute all that money, handle taxes, etc., through the years.

Next?

I did as good as I have the last 3 or 4 drawings.....not one stinking number! Isn't that almost hard to do lol ?

Hey, i got 3 numbers! I guess i will use that $7 to get more tickets now that its up to $325M.

Go for it, tm2! Mojo and I are ready to pack our bags! :)

Wow, $325 million is a LOT of money. I almost can't fathom it.

Put away money for me and kids, give some to family and friends, then I would buy lots of houses and give them to families in the YWCA's Battered Women's Shelter under one condition- that they have no contact with their abuser.

"I would endow scholarships at all the schools I attended for students who come from a family where the father had died."----JohnnyMac

Outstanding. If I don't win, lol, I hope you do.

So, if McCaskey is right and I'm the sole winner I'll get $141,450,000. I'd invest it conservatively and quietly collect the 3% interest - $4,243,500. Of that, ten percent would go to my church and the balance would be split evenly between me and my three brothers. With my very own $954,787 I'd find a way to live on $300,000 (it's tough but I'd just have to cowboy up and do it) leaving me with $654,767 to play with. So, you see, after family and friends are taken care of, I would support:
No kill animal shelters complete with free spay and neuter programs
Battered women shelters
Mental Health programs and halfway houses
College Scholarships for broke English majors
Gun Owners of America

And then, just for my own amusement, I'd drive by GZ every day in my new Bentley convertible (battleship gray with a Amherst Villiers supercharger controlled by a magnetic switch) and wave a fistful of hundreds under his nose, informing him that this could have been his if he'd bought a lottery ticket.

Oh yeah, and I'd fly Jimelong's dog to Colorado for whatever the poor dog needs.

Maddie, the mathematics are clear: You'd have a better return on your investment if you ATE the dollar for that lottery ticket. I have better uses for a dollar than that, surely.

If you're driving a Bentley, then there are many things in life that are apt to amuse you. So wave away. I'll keep my own dollars where they are doing the best good ... in my pocket, or buying tools.

I'll tell you what I'd do.... Two chicks at the same time.

http://movies.infinitecoolness.com/27/officespace18.jpg

I'll get you that Bentley, MJ, after I win, and you can drive us around Sylvania. And two chicks for Mikey. Hell, make it three.

Mr. No Fun GZ, always so practical and responsible. I'm blowing $5 on tickets by Friday, no matter what you say.

Eh, GZ, I get what you're saying about people who can't afford it spending too much on lottery tickets, thinking its an "investment."

But I'm financially stable...reasonably well-off, for the most part. If I want to spend a dollar or two each week on the office pool, its not really a big deal to me. Its fun to think about what you'd do if you won a big prize, and there's some camaraderie that goes along with participating in the office pool as well.

But yes, I do agree with you that people who can't even put food on the table are foolish to dump a bunch of money into lottery tickets, hoping to catch a break.

first of all I wouldn't take the lump sum payment, I'd rather have $12.5 million (before taxes) each year for the next 26 years, than the $144 million lump sum. Everyone thinks I'll invest it and make more money but its unlikely that you would, most people who have won the lottery have failed to manage their money, especially when given all of it in one lump sum.

If you take the lump sum what you actually receive is the amount that they would have had to put into annuity to pay off the total amount over 26 years, if you start spending, the amount that you can invest decreases meaning you have to perform that much better than the interest in the annuity. And depending on where that $141 million came from it may not be including your total taxes (they used to keep 20% off the top in the ohio lottery for taxes which usually did not coveer your full taxe liability.)

Given that I would take my yearly amounts, and invest part of it, donate part of it, and enjoy life with part of it (traveling), and doing what I want maybe start a business or two.

I'd buy up abandoned and nuisance properties all over Northwest Ohio, knock down any remaining structures and deed the property to the neighbors if they are willing to assume the tax liability and care for the property in a responsible manner. Otherwise I'd just cover the newly-barren ground with grass and some simple landscaping, returning to mow it every other week with an old-school push-mower to help keep my nouveau riche ass in shape, not to mention in touch with the community and mother nature. Certain parcels could anchor community gardens and I'd employ local kids to help, if the ten bucks an hour I'd pay is worth their time. The parcels would be deeded to a trust, all to be given to charitable organizations long after I'm gone, hedging a bet that Toledo real estate will retain some value forty years down the road, the recipients free to sell or improve the property as they wish.
Then we'd do the same routine w/ select strip malls.

I'd buy up some of the hilariously tacky--and as time is beginning reveal--shoddily constructed Sylvania/Perrysburg McMansions, hire Christopher Guest and Michael McKean to write and star in a faux-documentary (a la Spinal Tap), illustrating the short-sighted, misguided pretentious arrogance of the late 20th century, allowing them to use the residences both for the film set(s) and artistic inspiration.

I'd drop a cash bomb on both the Toledo-Lucas County and Way Public Library, and there would probably be a few parties of epic proportions. I'm not all business.

I'd bankroll a study of a limited-access railway linking Toledo and it's suburbs, including a spur right into downtown with a station near the stadium and new arena. A high speed rail line right into the Detroit Metro Airport terminal would be included, which would allow Toledo Express Airport to concentrate specifically on commercial freight and military air traffic, giving the facility a clearly defined identity and purpose so it can grow and improve, putting an end to the wasted time, money and effort that goes into maintaining the revolving door of passenger carriers that routinely flirt with Toledo Express but never commit. ***Just a side thought-is Grassy Island in Maumee Bay big enough for an airstrip that business-class jets could land on? Could it be made big enough? It is located like 3 minutes from downtown.***

As expected, I'd put some away for family education and medical needs, the remainder all going to seed forward thinking technology, medical and energy companies, provided they kept manufacturing and development here in NW Ohio.

The last check I'd write would be for my funeral, and if I've put everything properly in place, it'll bounce.

Fred, I LOVE the way you think!!!!!

Mom2, I agree. I've run the office pool (15-20 people, $2 each per week) for 7 years and we're are all scattered to the 4 winds now due to life changes but we've maintained contact because of this thing. We snail mail checks and connect thru email at least once a week because of the lottery, it's awesome. :)

It's up again. Don't forget to buy your tickets for the drawing tonight.

Except for you, GZ.

:-)

"15-20 people, $2 each per week) for 7 years "

you know if you'd have pocketed the money you'd have over $14 grand right now and nobody'd been the wizer...

fun fact - statistically, with the odds as far as the drawing today - you have the same odds winning no matter if you buy the ticket or not!

All wonderful thoughts and ideas and intentions, and all things a typical person that cared would do.

From someone that knows about large sums of money, the absolute >first< thing you should do is seek out and hire a good lawyer.

THEN go blow it on your family.

:)

Lolz, Billy, no, we wouldn't. Only 1 of us would have that money, we wouldn't EACH have 14K, and do you think they would have all given it to me without at least some promise of a return?? Do I LOOK like Bernie Madoff??? lolz.

Amazed no one mentioned a hooker and an eight ball and a road trip Fear and Loathing style, but I think madjack was leaning toward it :)

I would become an activist winner. I'd make the democrats' lives as miserable as much as I could, for as long as I could!

I'll never win the lottery because I don't play the lottery.

Toledolen, that in and of itself makes you a winner....

And Nana - read what I wrote again. I didnt say you'd EACH have $14K, I said YOU would have it, and nobody would've known anything about it. They'd be no better or worse off than they are now would they? I mean, every week for 7 years? - you havent ever won the thing, have you?

billy - In every office pool I've ever participated in, the tickets are bought a day or two prior to the drawing. Everyone who participates gets photocopies of the tickets.