What would you do first if you won at the lottery?
By girish3110
@girish3110 (138)
Mauritius
32 responses
@BklynPeach42 (5)
• United States
17 Jan 07
The first thing I would do is ask the 3 richest people I know for their accountants' and tax attorneys' phone numbers so I could have guidence on the best way to keep most of it from the IRS.
@gittabest (1946)
• Iceland
17 Jan 07
I would move to London and then I would invest some of the money :D
Have a nice day
1 person likes this
@francisferns (671)
• India
17 Jan 07
I would buy a house, a sports car and the rest i would invest...
1 person likes this
@fujin1985 (684)
• Philippines
17 Jan 07
i will definitely put up my dream garments business with my friend.
1 person likes this
@chemicalh2 (627)
• Philippines
17 Jan 07
I would invest the money and help it grow. Its best not to spend it right away.
1 person likes this
@Netsbridge (3253)
• United States
18 Jan 07
Give a tenth to the work of the Lord; take care of all immediate family needs; assist foreign students who came to the USA on or before September 1, 1988, are not US citizens, and would like to return to their homeland but cannot because they cannot afford the tickets and/or do not want to returm empty-handed; open an assist fund for innovative great minds; donate to some organizations whose work I support and, oh yes, my dear Lord!, go! home! to! be! with! my! family! and till! my! land! and mind (finally) my own problems!
@preetshweety (1046)
• India
15 Feb 07
I will first clear all my Credits n then invest d rest in my Business.
@cuterose (1698)
• India
18 Jan 07
it depends upon how much money i win. however small the money may be, i'l first give 2% of it to some charity or trust or for the poor. then i'l take half the money and invest in business. remaining half, i'l buy all the things which i mom asks for. then i'l spend for my dad, family, friends.
@BlaKy2 (1475)
• Romania
15 Feb 07
Winning the lottery is not something that a lot of us will be able to do anytime in the neat future, and that's probably a good thing. A decade after the average person win's the lottery, they're bankrupt. People start spending uncontrollably and think they have all the money in the world, when often times the amount of money they won is not much at all. When the average person wins the lottery, they buy a whole bunch of stuff they don't need, fancy cards, nice houses, and the like. If you were suddenly blessed with a million dollars, would you just blow it away like most lottery winners do, or would you be wise with it?
Most of us would like to be wise with our money in the event that we were blessed greatly with a large sum of money, but if we were to get a bunch of money, what would you even do with it? Let's pretend that you are blessed with one million dollars, what should you do with it?
First and foremost, if you are a Christian, you should give 10 percent of the million to the local church. God commands we Christians to give a tithe to the church, and we should do that. If this is to happen, you should call up the church's business manager and have a meeting with him or her. Be sure to let them know that you want this to be absolutely confidential, because people will treat you different if they know you have that much money. This will probably be a great blessing for a lot of churches as well, but keep it anonymous!
Secondly, you'll want to pay off any debts that you have. You might have a home mortgage, a credit card, a car payment, just go ahead and get rid of those as soon as you can. They're not worth your time any more now that you actually have some money! Let's say that all of your debt combined including your house adds up to $200,000, so we've spent $300,000 so far.
After you tithe and pay off your debt, let's save some money. If you have children fund their college education, and otherwise save money for retirement. You should probably save at least half of your million for this. If you save $500,000 in good mutual funds for 25 years, you'll have 8.5 million dollars to retire on. That's more than enough!
We've got $200,000 left to work with. You can give $100,000 of this away to your favorite charity, because if you are blessed, you should be able to bless others. Be sure to pick out a good charity too, one that has very low overhead. Finally, it's okay to have fun with some of your money, but keep it reasonable. Feel free to spend $100,000 of it on anything you'd like, have fun with it!
@jojopuff (520)
• United States
17 Jan 07
That is an interesting question! First of all, my husband and I would probably buy or build a house first and then get a new car. He would probably go back to his job he had before this one, and we'd move back to our hometown. We'd probably put some of the money into savings and give some away, and then we'd have some fun and go shopping! :D
It's interesting this question was brought up because just yesterday my husband and I were talking about this. Maybe it's a sign! lol...
@girish3110 (138)
• Mauritius
18 Jan 07
Lolz... Yes,may be it's a sign!! Let me knw if ever you win... Have a nice day.. :)
@Ashgun (472)
•
25 Apr 07
Thats a very interesting question and i am sure evrybody has already thought about that!!!!!! and each time changing their ideas about what to do with the money.... well i would first of all build a house for my husband n I it will be near the beach at flic en flac; go abroad for a 2nd honeymoon and after that keep the rest as fixed deposit and live n enjoy on the interest(In mauritius interest rates are quite high)...
@Terri_R (302)
• United States
18 Jan 07
The first thing I would do if I won the lottery is pay off any outstanding debts that I owe. Since this wouldn't take much I would buy each one of my children a new vehicle and invest money for each one of them in a savings of some sort that they could not touch until they were 40 years old. Any that was left I would find productive ways to invest.
@shannon2007 (169)
• India
18 Jan 07
ummm........ i will definitely go out on a long vacation 2 enjoy life 2 d fullest....
@QueenBee89 (91)
• Romania
18 Jan 07
The first thing? I would go shopping :). What next? Oh if there's any money left then I would buy myself one of those mansions I keep seeing on TV. I just adore them. After being in my great mansion, wearing only Prada, D&G and Versace, I would go out clubbing or why not? Start my own club... It would be the "it" club of course cause I would spend a lot of money on it. The rest? I don't know! I should buy some food :)) And of course help my mom and dad ... BORING!
@marief2rnurse (2704)
• United States
18 Jan 07
I have a house so I will put it in the bank, quit my job and relax at home, have fun with the kids...