I'll have it back in an hour

[Terza]

Yeah, my plan should we win the lottery is:

An equal amount to each parent/sibling (that way they don't get to complain someone else got more, because they would!)
Set up account for child for uni (because it's going to be horrendously expensive by that time!)
Buy a house
Pay off what debts there are

DH would probably quit work completely, I'd want to keep working but cut down.

[protege]

Let's see now...if I won the lotto....

1. Pay off the house.
2. Rebuild my savings.
3. Invest a portion of it into my IRA.
4. Do some traveling.
5. Get a new car?

[bankworking]

If I won insane amounts of money? Split it evenly among 50 or so family and friends. That way, I don't have to worry about being suddenly rich alone, I have a ton of shared experiences to talk about with my dearest and nearest, and the amount of money I have left is a low enough number to actually wrap my head around and use responsibly towards my future.

Of course it can't happen... I keep on not playing, so even that 1 in whatever millionth chance can't come up for me. Oh darn. Missed out on that one, I guess.

[notalwaysright]

Haha, bankworking you are so much sweeter than me. If I suddenly came into a lot of money one of my first goals would be to keep it a secret. If I could, I would collect the winnings via proxy so nobody would know I was wealthy. I would wait at least six months before I spent any money, and during that time I'd figure out what kind of taxes I'd be dealing with. Eventually I would probably buy property to build a house on, buy a different car (probably not new), and figure out what type of investments would be safest.

I also don't have such a harsh view of people who play the lottery, as long as they aren't being sucky about it, like the buy in the OP was. It's really not my business what people spend their money on. I can't imagine paying to go to the Super Bowl, for example, but obviously many people do.

[Kogarashi]

Hubby's and my list:

• Pay off outstanding debts (currently house and vehicle, plus we'd need to replace the other vehicle because it's getting on in years and needs to be retired).
• Set aside a smallish sum for fun expenses, like movie dates or video games or the like.
• Pay back our parents for their help while we were in college.
• Set aside a sum for each child in a college fund.
• Use the rest for charitable expenditures.

Nowhere in there would we plan to get something that requires regular upkeep. That seems to trip up way too many people who win the lottery or other large sums of money. They end up spending it all on things with upkeep costs (boats, big houses, etc.), but don't budget the money or plan for what'll happen when it runs out, and then suddenly they have a huge house payment they can't afford anymore. My in-laws had neighbors like that before said neighbors sold their McMansion to someone who could actually afford the house payments and property taxes.

[Ironclad Alibi]

If I won the lottery... like many others said I would share with family and friends. I would also get a bigger house so I would have plenty of room to spread out my hobbies. And it would be a very good year for those on CS to be on the Christmas Card List.

Alas, as of now, I have not won the lottery.

[dalesys]

... And it would be a very good year for those on CS to be on the Christmas Card List...

As in Aluminum Overcast dropping glitter?

[Trixie]

If I won the lottery besides the paying of debts and all that I would make sure I had some money just to waste. Just to have some stupid shit. I mean what good is having that much without something stupid to show for it. I'd always have new stuff. Fuck it, I've been poor all my life and I'd make up for that.

I think the most important thing though is finding a really good financial advisor who would make sure you hold on to those winnings before they're all gone and you're even worse than before you won.

None of this matters anyway, even when the jackpots are big I never get around to buying a ticket but it's still fun to dream.

[LoTech]

Much love to this mathematical analysis that PROVES that a lottery ticket is NEVER worth the price paid for it (At least for Megamillions and Powerball), no matter HOW high the jackpot grows. Although the graphs DO identify the "sweet spot" where the value of a ticket is closest to the purchase price.

http://www.circlemud.org/jelson/megamillions/

[mjr]

Speaking of Powerball...it's over $800 million now.

There's a 30 year annuity ($26.67 million/yr, basically), or the "cash up front" option.

I think if I were to win (I won't, because I'm not playing), I think I'd take the "up front" option. It's still well over $215 million after taxes.

[mjr]

Speaking of Powerball...it's over $800 million now.

There's a 30 year annuity ($26.67 million/yr, basically), or the "cash up front" option.

I think if I were to win (I won't, because I'm not playing), I think I'd take the "up front" option. It's still well over $215 million after taxes.

I think, by the way, I figured out some of what I might do if I had this kind of scratch...

1. Pay off my current mortgage.

2. Buy a good tract of land, and build a house similar to this: http://www.archivaldesigns.com/home-...lla-house-plan

3. Buy a couple of tricked-out Teslas (https://my.teslamotors.com/models/de...ource=homepage), one for me, one for the Mrs.

4. Increase/upgrade my guitar selections.

5. Upgrade my personal technologies (computers, electronics, etc.)

6. Anonymous charitable donations.

7. Volunteer my time to mentor kids.

[Mr Hero]

Now, when you say you want huge tracts of land...

[protege]

Speaking of tracts of land...I wouldn't mind getting my grandmother's farm back. That was sold in 2007, when she could no longer take care of herself. It was either sell the farm and move her into a nursing home, or watch her mind slowly destroy itself as she wouldn't be able to get the care she needed. Still, if I could afford to repurchase her 1860s farmhouse, the carriage house, and the surrounding 80 acres of farmland, I'd do it. Granted, I'd have to pay a pretty penny and possibly do some serious rehab, but oh well. I'd then remodel the carriage house into a proper garage, a loft overhead...and then start up a small winery where the garden once was.

[Chromatix]

The main thing I'd want to do with a lump sum of money is to eliminate, at a stroke, my single biggest ongoing expense - that of keeping a roof over my head. I'd buy some land, build a house on it large enough and with enough mod-cons that I'd never feel the need to move anywhere else, and say farewell to renting forever. That wouldn't need to be a McMansion; it probably wouldn't stand out as extravagant.

I'd invest most of the rest to give me a steady income. This is what the phrase "independently wealthy" means.

Naturally, I'd also build myself the best computer money can buy. The other luxury I could see myself wanting is a recumbent tadpole tricycle.

[wolfie]

Naturally, I'd also build myself the best computer money can buy. The other luxury I could see myself wanting is a recumbent tadpole tricycle.

For those not familiar with the terms, "tadpole" refers to a trike with 2 front and 1 rear wheel (layout like a kid's trike is called a "delta").