Imagine that you purchased a lotto ticket and actually won about 10 million dollars. We've all dreamed of it. But have you really, and I mean really sat down and thought about what you would/could do?
First, you wouldn't get all 10mil. You'd have to give a large chunk of it to Uncle Sam for taxes. But that's not it. From what I understand, you get a choice of either a lump sum (which is substantially smaller than your actual winnings), or you can choose to get it all in the form of monthly checks.
So, let's pretend you decide on the checks. That's somewhere around 10k a month coming to you.
What do you do? Keep in mind, you just won the lottery! Everyone you know, or that knows you, probably knows you won it. They all think you're rich as hell, etc.
Here's where people stop thinking clearly usually. They think, "first thing I'd do is go buy a lamborghini!". Nope, can't do that, cause you'd have to save for like 2 years to do that. "I'd buy a mansion!" Nope, same situation. Now, granted you could probably get loans for all of that stuff, but then you're just in debt...again.
Personally, the first thing I'd do is quit my job, shop a "tiny" bit just for fun, but the majority of money would go towards current debt. Completely pay off everything you have (which at the rate the checks are coming in, would probably take a year or 2), and plan an entirely debt free life.
I suppose my point is, if/when you ever do finally get that lucky ticket, sure it's going to be wonderful, but it's not going to be what you probably think it is, at least for the first couple of years.
See, honestly, I'm kindof in this predicament right now. My wife's business started taking off last year, and we decided it was time for me to leave my job and help her run it. So I did. And with my help the business has exploded into a literal money making machine. We are so grateful and thankful. Compared to the income we were used to, it's very much like winning the lottery. It is wonderful, however, it's a bit boring at the moment lol. You see, sure the money is coming in, but we really can't touch much of it, because of savings to pay off current debts. Bitter and sweet at the same time. Anyway, it was an interesting realization I was thinking about. Once you win the lottery, buy everything you want, help everyone you know, etc. Then what? The challenge of that week-to-week paycheck is gone. Believe it or not, you kindof miss it a little.
What's the business called?
And with due respect... there's a difference between working for what you get and it paying off, or winning the lottery... unless you consider your wife a "ticket".
"There is only one thing of which I am certain, and that's nothing is certain."
And with due respect... there's a difference between working for what you get and it paying off, or winning the lottery... unless you consider your wife a "ticket".
Haha, actually yeah I do consider her a ticket. She's the most awesome woman I've ever met.
Aside from that, I'd rather keep the business name private for obvious reasons. But it has to do with crafting, sewing, etc. Definately not my cup of tea, but it doesn't matter. I can't help but love it due to the success and growth we've had over the past year.
I would take my mother shopping - hit up all the craft and antique stores back home, head up to Savannah for the day and just splurge. We'd probably only spend a couple thousand, but we're bargain hunters, so it's okay :P lol
I'd pay off the husband's debt, and my mother/step-father's debt, and my grandmother's debt. I'd buy a mini-cooper (they're so cute!) and a big 'ol truck for the hubby (he says they're uncommon here in the UK *shrugs* guess I got used to seeing them all over back home).
I'd get an old Victorian home in Savannah, and enroll to go to SCAD (I've dreamt of going there for ages) for photography. I'd build a dark room in our home, have an awesome play area in the back for the kids (which we would start having since we could afford them), and a big manly garage for the hubby, and a huge media/gaming room somewhere in the house, with both of us getting bad ass alienware gaming computers.
I would travel, and travel, and travel, and travel. see the world, because we've always wanted to.
I'd give money to the local humane society, and other animal shelters and shelters for abused women, children, etc.
I'd have an awesome camera collection.
I'd set up a couple savings accounts for the kids' future college funds, and another for our own retirement.
And I'd still work - because, well, why not? If you have enough money to be set for life, why not go after some part-time (hell, even full-time) job you've kinda always wanted or been curious about. If you don't like it, fuck it, quit, try somewhere else.
If i have 10 million, I would probably went to vegas to waste it there! Hotelsm Casino, Girls, Liquors and Lights! after that, I would probably do it again and again...*Seriously...
spread the wealth within the family and make sure everyone is well takin care off, donate some to a good cause and me personally I would go to college and get a linguistics degree....and keep some money on the side to upgrade my computer whenever its needed.
Comments
Actually I'm not sure I'd do anything differently than what I'm doing today.
Maybe I'd try to make my own mmorpg game... but I doubt I'd want to "waste" it like that.
What's the business called?
And with due respect... there's a difference between working for what you get and it paying off, or winning the lottery... unless you consider your wife a "ticket".
"There is only one thing of which I am certain, and that's nothing is certain."
Haha, actually yeah I do consider her a ticket. She's the most awesome woman I've ever met.
Aside from that, I'd rather keep the business name private for obvious reasons. But it has to do with crafting, sewing, etc. Definately not my cup of tea, but it doesn't matter. I can't help but love it due to the success and growth we've had over the past year.
There are lots of things I would do.
I would take my mother shopping - hit up all the craft and antique stores back home, head up to Savannah for the day and just splurge. We'd probably only spend a couple thousand, but we're bargain hunters, so it's okay :P lol
I'd pay off the husband's debt, and my mother/step-father's debt, and my grandmother's debt. I'd buy a mini-cooper (they're so cute!) and a big 'ol truck for the hubby (he says they're uncommon here in the UK *shrugs* guess I got used to seeing them all over back home).
I'd get an old Victorian home in Savannah, and enroll to go to SCAD (I've dreamt of going there for ages) for photography. I'd build a dark room in our home, have an awesome play area in the back for the kids (which we would start having since we could afford them), and a big manly garage for the hubby, and a huge media/gaming room somewhere in the house, with both of us getting bad ass alienware gaming computers.
I would travel, and travel, and travel, and travel. see the world, because we've always wanted to.
I'd give money to the local humane society, and other animal shelters and shelters for abused women, children, etc.
I'd have an awesome camera collection.
I'd set up a couple savings accounts for the kids' future college funds, and another for our own retirement.
And I'd still work - because, well, why not? If you have enough money to be set for life, why not go after some part-time (hell, even full-time) job you've kinda always wanted or been curious about. If you don't like it, fuck it, quit, try somewhere else.
Hmm
~A lot of money going to my mom, who could really use it
~New wardrobe *ching ching, bling bling*
~Dinner with the whole family
~Donation to a scientific research I like
~Opting to get the electrolysis (hair) and hormone reassignment therapy I want
I'm sure Ill be able to spend or save the rest if there's anything left ^^
I think I will start my own gaming company ^.^ and also I would like to travel around the world... (now it's in my head...) ^^
If i have 10 million, I would probably went to vegas to waste it there! Hotelsm Casino, Girls, Liquors and Lights! after that, I would probably do it again and again...*Seriously...
spread the wealth within the family and make sure everyone is well takin care off, donate some to a good cause and me personally I would go to college and get a linguistics degree....and keep some money on the side to upgrade my computer whenever its needed.
HEAVEN OR HELL
Duel 1
Lets ROCK!
If iI am getting around 10k a month till i reach the 10m limit, I will just sit around and play hard core! It's like being pensioned..