Update: Since I posted this, the jackpot has gone up to $550 Million! (1PM 11/28/12)
I’m not a gambler. The first scratch ticket I bought was two years ago and it was for a Christmas gift for someone else. I’ve never bought a lottery ticket, and if I go to the casino, I see how long $5 in coins gets me at the slot machines, and then call it a day. I’d rather take that $1 I would spend on a lottery ticket and keep it and put it towards something I NEED or go to savings.
HOWEVER… I do make exceptions… because it’s fun to play ‘What if?’ Like this week, the Powerball is $425 MILLION DOLLARS!!! (And I’m sure it’s climbing as I write this). The talk radio I listen to on my commute to work were talking about pooling together and buying tickets… and we did that last year at work (we didn’t win, obviousl). So, it came up at work and our department pooled together to buy a bunch of tickets.
Now, let’s get serious here…. we know we’re not gonna win. How much of a chance is there? One in a zillion? But WHAT IF?! Let’s play that game…
If one of our tickets one, the cash prize payout is $278.3 Million (that’s after taxes, right?). And there are 9 of us playing.. which means if we win and split it, we each get $30.1 Million. What would I do with that much money? What would you do…? Quit working, buy a Mc Mansion, pay off debt, travel the world, give to charity?… here’s how I’d allocate my winnings…
#1 Pay off Debt mortgage, student loans, credit cards, my sister’s student loans, my parent’s and MIL’s houses
#2 Buy FOUR houses. Seriously. Haha. I’d buy one in VT, one in Boston, one in NYC, and one in San Fransisco. I’m not kidding. And I’m not talking Mc Mansions… something reasonable.. big enough for us, and in a condition to renovate…that way I always have a project and we can rotate between the houses to see family.
#3 Saving Put away a big chunk for Avery’s college fund and his future, for us to live on, etc.
#4 Have as many babies as we want!!! This is the one I’d be the most excited about. Vinay said I could have as many kids as I wanted if we wont the lottery… I think this qualifies!
#5 Give HEFTY Christmas Presents We’re on a tight, no frills, budget this year and that would SO be out the window!
#6 Renovate homes & blog about it and life for a living… hmmm maybe I should ask Vinay what he’d want to do with the $$ too… haha. I know he’d want to travel, take a break from working, … hmm good dinner conversation for tonight!
I know we won’t win… but if we did, everything I would do with the money would be to enable us to spend more time as a family…and with our family and friends. There would be more trips to the park (maybe I’d buy one of those too), less time working and more time working on building block towers and playing hide and seek. We could get a dog…or ten. I could take Vinay to Hawaii on a dream honeymoon he’s always wanted. Hey, I could go to the gym every day! And I could pick my sister up in a jet to come home instead of drive her home and ask for couches to crash on!
If you won the lottery, what would you do !!?
Here are a few SERIOUS articles on what you should REALLY do if you win the lottery (they all say to be quiet and don’t stop working and don’t buy anything… so maybe I should rethink my list a bit?! haha):
- 10 Things to do When you Win the Lottery
- How to Deal with Winning the Lottery
- What to do if you Win the Lottery