What would you do if you won the BIG lottery

[JavaJo]

My sister-in-law and her husband bought a scratch off about a year ago and won $20,000. They used it to put a down payment on a house and new living room furniture for the move. They had been saving for a couple of years (since they wed) but weren't quite there yet. That win really helped them out.

I'd be ok with winning just $20,000. I'd pay off all of our debt and buy the things we need for our living room remodel...carpet, paint, trim and my leather furniture I want.


Funny thing is....I say I'd go on a shopping spree, and for the house, I'd probably follow through. But when I don't have a lot of money, I find tons of things I really want. Sweaters, purses, artwork...etc. But when I have the money to spend, I'm a lot pickier and often can't find anything I really want to spend my money on. And I'm one of those annoying shoppers that has to look at everything then end up buying the thing I wanted in the very first store I went in to.

[queenb]

Queenb, would that summer cabin in Alaska have guest rooms?

Depends on who wants to know! For you, and most folks here, yes.

[combatcutie]

I would pay off my parents house and all their debt. They deserve it. If anything was left over, I would do IVF since I have been trying to conceive for 6 yrs without success. If that didn't work, I would adopt (since it is the same amount)

[SugarMama]

I would pay off my parents house and all their debt. They deserve it. If anything was left over, I would do IVF since I have been trying to conceive for 6 yrs without success. If that didn't work, I would adopt (since it is the same amount)

That's so sweet of you, putting your parents' need ahead of your own. Doesn't happen very much, unfortunately. Hope your dreams come true!

[tango7]

My sister-in-law and her husband bought a scratch off about a year ago and won $20,000. They used it to put a down payment on a house and new living room furniture for the move. They had been saving for a couple of years (since they wed) but weren't quite there yet. That win really helped them out.

I'd be ok with winning just $20,000.

Yes, $20k is nice. Not meaning to go off on a tangent, but when I buy lottery tickets I never expect to win the “big” one. I’ve won $1,000 several times (in the online games) over the past few years and I don’t spend even close to that much. It’s a nice surprise. A couple years ago my aunt won $5k and she spent a couple dollars. Don't buy scratch-offs often - most I've ever won from them is $50.00. But that's not too shabby a return on a $1 or $2 ticket.

While odds of winning millions are slim, I’d be thrilled with $250k, $10K, etc.

If I ever won a large amount (in excess of $1M) there is one thing I am sure of: I would keep my mouth shut, not go on TV, request anonymity when claiming, see an attorney, hire an accountant.

I’d buy a new house that is very high tech but comfortable. Top-notch security. I’d hire someone to help with cleaning, errands, and lawncare. Maybe a personal chef for days when I don’t feel like cooking. If questioned, I’d say “smart investments”. A personal driver/chauffeur. Travel whenever/wherever I want.

For a really big win, I’d probably set up a foundation and take my time hiring a few really competent people to help with administrative duties.

About 10 yrs ago a former co-worker won $3M. I didn't know him well. He continued to work but eventually quit - supposedly because people resented him . . .jealousy. He should have kept his mouth shut.

[MRD]

I would never tell.

I know someone that won $13 million 20 years ago. The people came out of the woodwork with hands outstretched. Several well know charities contacted him and everyone he had known since grade school wanted a "loan".
I would set up a family trust and let the trustee claim the ticket so I didn't have to show my face.
I don't mind giving, but to blatantly follow the lottery wins and start asking them for money, just seems crass.

[tango7]

I don't mind giving, but to blatantly follow the lottery wins and start asking them for money, just seems crass.

I agree. People’s true colors can show when it comes to money.

Years ago I got a nice settlement after being injured in an accident. I never told the amount, but a few people know my case had been settled. Once a few people know . . . Shortly thereafter a relative who I don’t really get along with started sucking up. I blew him off.

I know someone who struggled and had a really tough time while waiting for her disability for be approved. It took a couple years, but it was finally approved and she got several years of backpay which enabled her to get on her feet and take care of herself. Her backbiting sister (who had recently bought a new house, new furniture, new car - had a good job but spent money like crazy) had the nerve to try to hit her up for money - telling her they didn't have any food in the house and the electric bill was past due. Personally, I felt that was disgusting. I was glad she turned her sister and her sister’s lazy husband down.

You can imagine how these greedy people would have been re: lottery winnings!

[queenb]

If I won, sorry, but I would not want to hear any sob stories. I'd tell them to take it to Bill Gates or Donald Trump, who have billions, not millions. And who they know about as well as they do me.

[Ellen]

I just thought of something I would add as a priority for lottery winnings (and I'm embarrassed that this wasn't among the first things I thought of):
To give something meaningful -- whether outright cash, a vacation, or whatever -- to people who helped me out, just out of the kindness of their hearts without expecting anything in return, during my own financial difficulties.

[Lil Bit]

If I won, sorry, but I would not want to hear any sob stories. I'd tell them to take it to Bill Gates or Donald Trump, who have billions, not millions. And who they know about as well as they do me.

I'm with you queenb. I can imagine the long-lost relatives and "friends" that crawl out of the woodwork when someone comes into that kind of money. I'd definitely have to disappear for a while and lay low. 4 of my brothers would be happy for me and not expect a hand-out. The other brother would definitely expect money that he would not get because of his substance abuse issues. (I might help him out with rehab, though) My sister already owes me money that I will never get back, so I'm not sure I'd go there either. As for my husbands family.... not a chance in... well, you know where!