If you won the lottery, what would you buy?

christiangirl · #1 07-13-2009, 02:37 AM

I was thinking about this yesterday...I'd probably be the one to keep living life the way I am.

I'd give some to my church, pay off my parents' house and my and my sister's student loans and then....I want a little townhouse and a dog (a Great Dane). That's it, really. Maybe a cool vacation, traveling to lots of places, but I don't want too many "things." I'd do all the little things I want but haven't had money for--highlight my hair, pay my library fine, stuff like that. But most of it would go to traveling, Europe and Australia in particular. How about you guys?

jennyj87 · #2 07-13-2009, 09:46 AM

1. Give half to my parents
2. Set up a trust fund for my brother and sister
3. Pay off my student loans
4. Start a scholarship fund for my chapter.
5. Scholarships for my school
6. Travel around Europe
7. Give some to St. Jude and other various charities.

SydneyK · #3 07-13-2009, 09:52 AM

Quote:

Originally Posted by christiangirl

I want a little townhouse and a dog (a Great Dane).

Aaaacccckkkkk! Something seems wrong about wanting to have a Great Dane while living in a little townhouse!

But, to answer the question, I would bulk up my kids' college funds, pay off the house, increase our charitable contributions and invest the rest. We're pretty simple people, and I honestly can't imagine that we would change much about how we live. We would just be able to retire sooner (depending on the size of the lottery winning) than we have planned.

tld221 · #4 07-13-2009, 10:19 AM

i would:

--keep my apartment and pay the rent forward until my lease was up.
--put credits on all my accounts (utilities and such)
--pay off my debts (credit cards and student loans)
--set up a college fund for my newly born niece
--buy mom a house
--set aside some $ for my own house (in the future)
--new wardrobe
--invest in a great personal trainer
--update everything in my apartment - everything is hand-me-down or just flat out old.
--id help my siblings out too - brother with new baby, sister through culinary school, youngest bro about to start college
--donate money to various orgs (ones ive worked for in the past)
--buy my chapter space (i feel like a house would cost a lot of maintenance, but a legit space to call our own, for meetings, events and such would be sweet)

ah, that was nice to dream. is anyone well versed here on how the lottery actually works when it pays out? like how much gets taxed and how much you really end up with?

carnation · #5 07-13-2009, 10:56 AM

Right now we have 5 kids in college so you can imagine what we would do.

ThetaPrincess24 · #6 07-13-2009, 11:37 AM

I guess the answer to that question would be dependent on how much I actually won and would receive after taking the cash option.

But here are a few things:

--Sell this house and purchase a slightly larger one with a bigger lot for more flowers, more veggies, more fruit growing, and more kids.
--College trust funds for all three kids and all three nephews
--I would go back to school
--Take some cruises
--Visit my friend in Norway
--Become a Kappa Alpha Theta Life Loyal member
--Become an Alpha Kappi Psi Life Loyal Member
--Probably purchase the Toyota Sequoia my husband wants, and replace my car with a hybrid Escalade.
--I would stop looking for a job, and husband would quit his

Fleur de Lis · #7 07-13-2009, 11:39 AM

-pay off my parents' home and send them on a nice vacation
-pay off my brother's student loans and invest some money for him
-buy my husband a motorcycle
-travel, travel, travel
-give a lot of money away to charities we support
-stash most of it away because I hate the idea of buying everything you want just because you can. I much prefer waiting for a great opportunity to make a difference and having the cash there when that time comes!

Psi U MC Vito · #8 07-13-2009, 12:05 PM

-pay off my loans
-finish school
-buy mom a house
-buy self a house
-Set up scholarships for my school
-Set up scholarships for Psi U
-Buy chapter a house.
-Donate to charity
-Invest

depending on how much I actually get of course.

PeppyGPhiB · #9 07-13-2009, 12:15 PM

I used to do PR for the state lottery, so for the person who asked, I can tell you that my state took out 30% for taxes, and if you take the cash option on a large (annuity) jackpot like MegaMillions/Powerball, you can expect to lose another 20% or so. In the end, you walk out with about half of the jackpot.

A lot of people think that lottery winners blow the money, but in fact I can tell you from having interviewed hundreds of them that in fact almost all of them are very responsible with the money. The most common uses for the money are paying off mortgages, paying off all debt, buying a new car, saving money for kids/grandkids college funds, and...wait for it...giving it away! Most lottery winners give some money to family and friends who need it, and charities. In fact, it's the generosity that often gets them in trouble (if they do get in trouble) - it's amazing how many people come out of the woodwork when someone hits the jackpot. Lottery winners get phone calls and letters from complete strangers asking for money, and any family member with a financial issue seems to feel entitled to some of the funds. Also, many nonprofits add them to their mailing list and hit them up every time a fundraiser comes around.

As for what I'd do with the money...

- I'd pay off all my student loans
- Fully stock up my emergency fund
- Have an awesome wedding
- Buy a house on the lake front with its own dock
- Save up for kids
- Buy a beach house on the Oregon coast
- Pay off my mom's house

lovespink88 · #10 07-13-2009, 12:37 PM

- Pay for the rest of school
- Pay off my parent's home
- Pay my parents back for the sorority dues
- Buy my own car
- Set aside money for a home
- Set aside money for my wedding
- Donate to various organizations...probably American Cancer Society, St. Judes, JDRF...just to name a few...there's a lot of causes I want to help lol
- Save whatever's left

aephi alum · #11 07-13-2009, 01:32 PM

Depends on how much I win. If I only win $5, that won't go very far.

Assuming I win a multi-million-dollar jackpot:

1. Pay off my mortgage, car loans, and DH's student loans.
2. Make some charitable donations, particularly to my synagogue.
3. Take off with DH for six weeks or so, and travel the world.
4. Build an addition onto our house - maybe a solarium.
5. Invest the rest.

amanda6035 · #12 07-13-2009, 01:50 PM

1. Pay off remaining credit card and student loan debt.
2. Buy land. build a house.
3. Share with my family.
4. Travel. travel. travel.
5. Give to my church.
6. Give to AXiD - start a scholarship.
7. Give to my school.
8. Give to the USO.
9. Buy my husband a truck, so I can buy a camper.
10. College funds for future kids.
11. Buy a house on the beach.
12. Invest the rest.

KSigkid · #13 07-13-2009, 02:11 PM

Peter Gibbons: What would you do if you had a million dollars?
Lawrence: I'll tell you what I'd do, man: two chicks at the same time, man.
Peter Gibbons: That's it? If you had a million dollars, you'd do two chicks at the same time?
Lawrence: Damn straight. I always wanted to do that, man. And I think if I were a millionaire I could hook that up, too; 'cause chicks dig dudes with money.
Peter Gibbons: Well, not all chicks.
Lawrence: Well, the type of chicks that'd double up on a dude like me do.

/Office Space'd

RU OX Alum · #14 07-13-2009, 02:19 PM

I'd buy 37 million more lottery tickets and try to go double or nothing

Nah, I'd probably just invest it. I'd buy a house maybe though.

PhoenixAzul · #15 07-13-2009, 02:29 PM

Simple.
- Pay off student loans.
- Dump all of it into my bank account, apply for and get my UK visa, and leave the USA forever. Spend rest of life researching, reading, doing good things for other people, cycling, and restoring historic properties.