So you win the lottery.

[Cronozilla]

Pay off my family's debt.
Buy a house, set aside insurance and tax money for the house for the next ten years.
Buy a car, set aside insurance, tax (DEQ, DMV, etc), fuel, and maintenance costs for the next ten years (it'd be a guesstimate, of course).

All of that would probably get close to a $1M mark.

I would put about $1 million in an interest incruing savings account and then leave it alone.

I would take $1M split as seed money for a store and a software company.

$1M I would split across my entire family. A lot of my family lives in Libya, and I'm sure it would help an astronomical amount if they got $100,000 considering that's more than people will make there for a lifetime in most cases. It'd help pay for medical problems a lot of my family members have as well as level of living. It'd be nice if my maternal grandparents didn't have to live across the street from a coal mine anymore.

I'd take about $80K and put it aside for furthering my education to get a masters or phd ... as well as $150K for whatever kids I might have in the future. That would go into a college fund.

The rest would sit in my bank account split between personal savings and checking and I'd just budget things like normal. Maybe get some new stuff that is needed or really wanted.

But ... I'm not an idiot ... I wouldn't go out and buy a Ferrari or something. It's just really impractical, it would make more sense to make it so my current life is in great shape rather than trying to live a life that I would once again not be able to afford.

[Jmustang1968]

@JMustang -

I know this is probably a dumb question: But you have a 68 Mustang?

Is it a Fastback?! My dad rebuilt a 68 Fastback and I got to drive it to school for a couple of months. Candyapple red, originally had a 351 Windsor in it, but the pistons were cracked so my pops replaced it with a standard 302. It was a SWEET car for a 17 year old kid. I had THE slickest car in school for two months, I got so much attention from girls but that was it. Just attention, lol. He ended up selling it to pay off some property taxes.

Yes I do. Got it my senior year in HS and drove it during college. It is in my garage now, needs some love.

[Ivo]

I'll never understand why people who win the lottery don't just stay put for ONE year. And I low balled the interest figure. Pay your taxes, and let your money make you money. Don't be an idiot and you and your family's lives will be set.

Not to offend anyone in the thread (or in general), but that "mistery" is probably explained because people who understand mathematics decently tend not to play in the lottery (with the expectation value being negative almost by definition).

Besides I figure many posting rather sensible things to do with the winnings don't really play.

There are exceptions of course, I'm guessing some people "that know better" may like the thrill of seeing the numbers come out anyway and so for those cases that is worth paying the negative expectation value. But I guess when one of those persons that knows better does win, you probably don't even hear about it because they are also more likely to keep it anonymous if possible.

Ivo.

[BoneSnapDeez]

- Buy a house
- Put $$$ in my daughter's college fund (though my wife insists she will get a full-ride scholarship )
- Couple of new cars
- Travel to other countries besides Canada
- Panzer Dragoon Saga

[Forlorn Drifter]

How much does a mail order bride cost?

In all seriousness, I'd probably blow some on cars, some on videogames, and the rest would be wasted on stuff I don't really need, or sitting in the bank. Also, I'd buy some weed.

[Valkyrie-Favor]

I'll probably never play the lottery, let alone wine. If I did, I'd use a speck of the money to move to a bigger city and then let it sit in the bank like Luke would.

Also, I wouldn't tell my family, friends, or girlfriend.

[BoneSnapDeez]

I'll probably never play the lottery, let alone wine.

Good for you. I'd stay away from the gambling and the booze altogether if I were you.

[Luke]

I'd take about $80K and put it aside for furthering my education to get a masters or phd.

You'd be probably $100Kusd short unless you plan on working while going to school.

[Fragems]

1. Pay off my debts
2. Buy a couple hundred acres in the middle of nowhere
3. Build an in ground house + A moderately large storage building/warehouse for my collecting/hoarding.
4. Run some fiber optics to the house .
4. Install self sufficient water and energy systems for personal use
5. Put the rest in savings

If enough was left over I might consider opening up a cheap arcade/movie theater. I would like to open a cinema/arcade with $3 movies and 10 cent per play games. It would probably be a money pit, but I wouldn't mind. I would enjoy it as long as I could support it.

[BoneSnapDeez]

2. Buy a couple hundred acres in the middle of nowhere

Come visit me and see if you enjoy this lifestyle.