Photo Credit: Kari Melissa via Compfight cc

Photo Credit: Kari Melissa via Compfight cc

The quickest way to get rich is to go out and buy a lotto ticket and hope that you win. Who wouldn’t like winning so much money and then being all set for the rest of your life? I doubt anyone would say no to that! The odds of actually winning though are pretty darn slim. It doesn’t stop millions of people from going out to buy a lotto ticket every week. It’s a dream that everyone has but not very realistic at all. I don’t even have a chance at this point since I don’t buy lotto tickets! It’s fun to think about but not very realistic at all.

Hmm…but talking about dreams…what would I do if I won the lottery? The mega millions perhaps? Would mysterious family members come crawling out of the woodwork? What would I buy with all that money? Would I be able to correctly invest it instead of spending it all? It’s not really a dream I’m itching to achieve but it’s certainly fun to think of the possibilities.

Take the lump sum and invest a majority of it
Technically you would get more money in the long run if you took payments over time. If you took the lump sum though you could invest it instead and get a good return on it. Taxes would definitely suck but then you would have passive income coming in! It would be a great opportunity to set myself up for the rest of my life. No more worrying about money! What a great load of weight that would be off my shoulders. If I ever won the lottery I might as well go for it!

Pay off all my debts
Ooh debt free sounds pretty good to me. I’m lucky that I don’t have a lot of debts in the first place so this wouldn’t be too bad. Pay off the car and the future house! The mortgage payments are going to be the biggest bill I’ve ever had and it’s going to be around for quite a while. It would be great to just pay it all off and save tons of money on interest.

Have some fun
So far I’ve been pretty boring with my lottery dreams. Of course I would spend some for fun! Get that dream car I’ve always wanted. Take a nice trip around the world and invite my family along. Or they can go on their own dream vacations too! In the end money is for our use and pleasure. It would be amazing to be able to do something for my family. I could even take off a year and just live in another country. There’s a lot that I would love to do but of course can’t because of money and time.

 

What would you do if you won the lottery?


2 Comments

  1. Posted November 18, 2013 at 3:00 am | Permalink

    If I won, I’d take it as a lumpsump, taxes be damned. I don’t think I’d trust the lotto company to hold on to that money for years on end.
    Am pretty sure very distant relatives would come out of the woodwork, not sure I’d recognize them, but I’d certainly help close family members, relatives and some friends with donations especially to take care of their debt problems if they are struggling.
    The rest, invest, buy some real estate, travel lots and don’t forget donate a sizable amount to charity. I was given “freely” I should also give freely :)
    Simon @ Modest Money recently posted…Barclaycard Arrival World MasterCard ReviewMy Profile

    • TeenyGreen
      Posted November 18, 2013 at 8:39 am | Permalink

      Sounds like a good plan, question is, do you actually buy lotto tickets? Haha.

Leave a Reply

Your email address will not be published. Required fields are marked *

CommentLuv badge