Comments on: If You Won the Lottery… http://allfinancialmatters.com/2008/04/04/if-you-won-the-lottery/ A personal finance blog dedicated to discussing such topics as budgeting, asset allocation, 401K, IRA, cash flow, insurance, financial planning, portfolio management, and other areas in personal finance. Sat, 11 Feb 2012 20:32:19 +0000 hourly 1 http://wordpress.org/?v= By: eric http://allfinancialmatters.com/2008/04/04/if-you-won-the-lottery/comment-page-1/#comment-446819 eric Thu, 04 Nov 2010 02:18:15 +0000 http://allfinancialmatters.com/2008/04/04/if-you-won-the-lottery/#comment-446819 give everyone i know one dollar and tell them to buy a ticket like i did give everyone i know one dollar and tell them to buy a ticket like i did

]]> By: eric http://allfinancialmatters.com/2008/04/04/if-you-won-the-lottery/comment-page-1/#comment-446818 eric Thu, 04 Nov 2010 02:16:27 +0000 http://allfinancialmatters.com/2008/04/04/if-you-won-the-lottery/#comment-446818 give everyone i know and tell them to buy a ticket like i did give everyone i know and tell them to buy a ticket like i did

]]> By: Mike http://allfinancialmatters.com/2008/04/04/if-you-won-the-lottery/comment-page-1/#comment-446415 Mike Mon, 18 Oct 2010 16:55:05 +0000 http://allfinancialmatters.com/2008/04/04/if-you-won-the-lottery/#comment-446415 This is interesting, post more often! :) This is interesting, post more often! :)

]]> By: Joshua Taylor http://allfinancialmatters.com/2008/04/04/if-you-won-the-lottery/comment-page-1/#comment-445930 Joshua Taylor Fri, 01 Oct 2010 07:52:58 +0000 http://allfinancialmatters.com/2008/04/04/if-you-won-the-lottery/#comment-445930 my dream car is none other than the Porsche 911-*, my dream car is none other than the Porsche 911-*,

]]> By: Cass http://allfinancialmatters.com/2008/04/04/if-you-won-the-lottery/comment-page-1/#comment-443994 Cass Sun, 06 Jun 2010 18:33:40 +0000 http://allfinancialmatters.com/2008/04/04/if-you-won-the-lottery/#comment-443994 I have often fantasized about what I would do if I won, let me tell you purchases for myself would be made last... I would buy my disabled mom a house that wasnt rotting, I would buy my brother a condo and pay for his tuition to become whatever he wanted. I would set up a scholarship fund at our local university for low income students (like I was) to be able to go to school and come out debt free, so they have a chance. I would make huge donations of my time and money to our local food bank, and mens and womens shelters, if It was a huge significant amount I would built and fund emergency shelters. I would make large donations to the Hepatitis C foundation, as so many of my friends and family were infected with tainted blood years ago... I would donate to my local hospital where I work, so all floors would have access to new safety equipment thus making patient safety better... I would help my friends and family with their debt, as well as strangers with challenges they face, ie; a girl in the community needing a wheelchair. I would hope to be able to invest a ton, so the money I accrued could be used to continue my charitable endeavors.. Lastly, I would build my own home, buy a more eco friendly vehicle and travel with doctors without borders (as an RN), so as Im seeing the world I am also lending a helping hand. Im sure it sounds sappy and many probably think im full of crap, however this is exactly what I would do with it and it disappoints me that others do not do the same...I would 1st priority help as many people for as long as I could with that much money. I have often fantasized about what I would do if I won, let me tell you purchases for myself would be made last…

I would buy my disabled mom a house that wasnt rotting, I would buy my brother a condo and pay for his tuition to become whatever he wanted.

I would set up a scholarship fund at our local university for low income students (like I was) to be able to go to school and come out debt free, so they have a chance.

I would make huge donations of my time and money to our local food bank, and mens and womens shelters, if It was a huge significant amount I would built and fund emergency shelters.

I would make large donations to the Hepatitis C foundation, as so many of my friends and family were infected with tainted blood years ago…

I would donate to my local hospital where I work, so all floors would have access to new safety equipment thus making patient safety better…

I would help my friends and family with their debt, as well as strangers with challenges they face, ie; a girl in the community needing a wheelchair.

I would hope to be able to invest a ton, so the money I accrued could be used to continue my charitable endeavors..

Lastly, I would build my own home, buy a more eco friendly vehicle and travel with doctors without borders (as an RN), so as Im seeing the world I am also lending a helping hand.

Im sure it sounds sappy and many probably think im full of crap, however this is exactly what I would do with it and it disappoints me that others do not do the same…I would 1st priority help as many people for as long as I could with that much money.

]]> By: Tiffany http://allfinancialmatters.com/2008/04/04/if-you-won-the-lottery/comment-page-1/#comment-441280 Tiffany Sun, 27 Dec 2009 08:37:06 +0000 http://allfinancialmatters.com/2008/04/04/if-you-won-the-lottery/#comment-441280 If I won the $136 million I'd hire a financial planner and a lawyer right away. I've heard enough horror stories about people's lives being ruined by lotto winnings because they didn't know WTH they were doing! I'd establish a blind trust, like was mentioned before. I'd set up accounts for my immediate family and give everyone a million each (and make it so that the youngest ones can only take out so much per month..you know, kids. lol). I'd pay off mine and my family's debts, then buy a new house in a nice part of L.A. Nothing too lavish. I'd buy my mom a house and a nice, dependable car, and also get her the best fibromyalgia treatment in the world. I'd gladly do some indulgent shopping because hey, I'm a multi-milionaire and you only live once. :) I would NOT pay in full for my daughter to go to college because I don't want her to have a sense of entitlement to anything. I'd meet her halfway. I'd anonymously help my friends who were having financial trouble, and also give a huge chunk of it to charities in Los Angeles and abroad. Then I'd do lots of traveling and do everything on my "things to do before I die" list. I'd probably have like 70 million left after all that. Wow. I'd have my financial planner and lawyer help me with investing and taxes and such. But I'd probably end up giving a lot of it away because I'd be happy just living a nice upper-middle class life without my life being defined by riches. Maybe spending no more than $200,000 a year. It would be a huge step up from where I am now. If I won the $136 million I’d hire a financial planner and a lawyer right away. I’ve heard enough horror stories about people’s lives being ruined by lotto winnings because they didn’t know WTH they were doing!
I’d establish a blind trust, like was mentioned before. I’d set up accounts for my immediate family and give everyone a million each (and make it so that the youngest ones can only take out so much per month..you know, kids. lol).
I’d pay off mine and my family’s debts, then buy a new house in a nice part of L.A. Nothing too lavish.
I’d buy my mom a house and a nice, dependable car, and also get her the best fibromyalgia treatment in the world.
I’d gladly do some indulgent shopping because hey, I’m a multi-milionaire and you only live once. :)
I would NOT pay in full for my daughter to go to college because I don’t want her to have a sense of entitlement to anything. I’d meet her halfway.
I’d anonymously help my friends who were having financial trouble, and also give a huge chunk of it to charities in Los Angeles and abroad. Then I’d do lots of traveling and do everything on my “things to do before I die” list. I’d probably have like 70 million left after all that. Wow. I’d have my financial planner and lawyer help me with investing and taxes and such. But I’d probably end up giving a lot of it away because I’d be happy just living a nice upper-middle class life without my life being defined by riches. Maybe spending no more than $200,000 a year. It would be a huge step up from where I am now.

]]> By: Kyle R Toth http://allfinancialmatters.com/2008/04/04/if-you-won-the-lottery/comment-page-1/#comment-439609 Kyle R Toth Sat, 03 Oct 2009 00:31:40 +0000 http://allfinancialmatters.com/2008/04/04/if-you-won-the-lottery/#comment-439609 If I were to win the lottery... I o not play the lottery, I've bought one ticket since I've turned 18. I cannot, however, say I have not continually dreamed of winning. Every time I see someone whom has won and wasted away themselves or their money it makes me sick. What I would do depends entirely on how much I win. The average, to me, would be nearly $100 Million. If I won that amount I would split $10 million among my closest friends (maybe 5 people), relatives (around 7 people), and myself eliminating our debt (I have $0 debt) and earning a little spending money. I would than lock $90 Million away in a high interest C.D. account (as if you could find one anymore). If I could find one with an astounding %6 interest every month I would gain $5.4 Million. With a C.D. account I could take out what I would need from that money monthly. I would donate up to %25 percent of the monthly interest to several different charities differing from month to month. I would continue cooking at night but leave my day job and finally start school as I have been desperately trying to do for 3 years now. I would immediately consider buying an extremely gas efficient automobile (never a Prius) and after a long time consider buying me dream car (which would be either a Nissan GT-R, Audi R8, Modified 1998 Mitsubishi Eclipse GT, or a highly modified Jeep Wrangler). I would consider buying a house far in the future but not until I complete my Green Building, Green Design and Green Architecture courses in college. I would indefinitely use Geothermal Heating, Solar Panels, A windmill or watermill perhaps, Rainwater and Groundwater recycling, and other Green Concepts. Basically I have thought long and hard about what I would do with my money and I believe I would have enough will power not to spend it all. I do not drink, smoke, or partake in any illegal activities. I just wish someday I could win the lottery, but dreams are only dreams. Maybe I should go buy a ticket :) If I were to win the lottery… I o not play the lottery, I’ve bought one ticket since I’ve turned 18. I cannot, however, say I have not continually dreamed of winning. Every time I see someone whom has won and wasted away themselves or their money it makes me sick. What I would do depends entirely on how much I win. The average, to me, would be nearly $100 Million. If I won that amount I would split $10 million among my closest friends (maybe 5 people), relatives (around 7 people), and myself eliminating our debt (I have $0 debt) and earning a little spending money. I would than lock $90 Million away in a high interest C.D. account (as if you could find one anymore). If I could find one with an astounding %6 interest every month I would gain $5.4 Million. With a C.D. account I could take out what I would need from that money monthly. I would donate up to %25 percent of the monthly interest to several different charities differing from month to month. I would continue cooking at night but leave my day job and finally start school as I have been desperately trying to do for 3 years now. I would immediately consider buying an extremely gas efficient automobile (never a Prius) and after a long time consider buying me dream car (which would be either a Nissan GT-R, Audi R8, Modified 1998 Mitsubishi Eclipse GT, or a highly modified Jeep Wrangler). I would consider buying a house far in the future but not until I complete my Green Building, Green Design and Green Architecture courses in college. I would indefinitely use Geothermal Heating, Solar Panels, A windmill or watermill perhaps, Rainwater and Groundwater recycling, and other Green Concepts. Basically I have thought long and hard about what I would do with my money and I believe I would have enough will power not to spend it all. I do not drink, smoke, or partake in any illegal activities. I just wish someday I could win the lottery, but dreams are only dreams. Maybe I should go buy a ticket :)

]]> By: JBA http://allfinancialmatters.com/2008/04/04/if-you-won-the-lottery/comment-page-1/#comment-439511 JBA Tue, 29 Sep 2009 06:16:27 +0000 http://allfinancialmatters.com/2008/04/04/if-you-won-the-lottery/#comment-439511 -hire an attorny to structure a separate private entity to collect the jackpot anonymously. -retain cpa to advise on tax and some financial matters. -set up trust(pending legal and tax advice)and trust account with (Schwab. -deposit winnings into trust immediately invest in high yield tax free money market fund. -Design asset allocation probably: 10% my own stock trading and real estate investing (only after extensive training i.e., mba, online trading academy, and trump u) 10% Alternative Investments (i.e. hedge funds and private equity probably with Goldman Sachs) 25% Small/Mid Cap Stocks(actively managed mutual funds, index funds, etfs, individual stocks) 30% Large Cap or Blue Chip Stocks (invested the same as the small/mid cap portfolio) 25% Bonds (corporate, muni, gov't, invested the same as the stock portfolio i.e.mutuals, indexes, and etfs, 10% would remain in a tax free money market fund maybe JPMorgan Tax Free Money Market Fund (RTJXX) -From this portfolio I would create an income stream of between 1%-4% of the total portfolio value to live of of. This be no more than $10-$20k per month direct deposited to a Chase Platinum Premier Checking Account. -I would improve my credit by paying off all debt, buying a house $150-200k with 20% down 30 yr fixed. Buy a brand new vehicle ($50k max). -Take my girl to Tiffany's for a wedding ring. She would quit work, get hair, feet, nails, facial, massage, weekly! -I would shop for fun, play video games, smoke a ton of weed and work out after, ha ha ha!!!!!!!!!!!! -hire an attorny to structure a separate private entity to collect the jackpot anonymously.
-retain cpa to advise on tax and some financial matters.
-set up trust(pending legal and tax advice)and trust account with (Schwab.
-deposit winnings into trust immediately invest in high yield tax free money market fund.
-Design asset allocation probably:
10% my own stock trading and real estate investing (only after extensive training i.e., mba, online trading academy, and trump u)
10% Alternative Investments (i.e. hedge funds and private equity probably with Goldman Sachs)
25% Small/Mid Cap Stocks(actively managed mutual funds, index funds, etfs, individual stocks)
30% Large Cap or Blue Chip Stocks (invested the same as the small/mid cap portfolio)
25% Bonds (corporate, muni, gov’t, invested the same as the stock portfolio i.e.mutuals, indexes, and etfs,
10% would remain in a tax free money market fund maybe JPMorgan Tax Free Money Market Fund (RTJXX)

-From this portfolio I would create an income stream of between 1%-4% of the total portfolio value to live of of. This be no more than $10-$20k per month direct deposited to a Chase Platinum Premier Checking Account.
-I would improve my credit by paying off all debt, buying a house $150-200k with 20% down 30 yr fixed. Buy a brand new vehicle ($50k max).
-Take my girl to Tiffany’s for a wedding ring. She would quit work, get hair, feet, nails, facial, massage, weekly!
-I would shop for fun, play video games, smoke a ton of weed and work out after, ha ha ha!!!!!!!!!!!!

]]> By: Carm http://allfinancialmatters.com/2008/04/04/if-you-won-the-lottery/comment-page-1/#comment-403297 Carm Tue, 17 Feb 2009 21:05:35 +0000 http://allfinancialmatters.com/2008/04/04/if-you-won-the-lottery/#comment-403297 If I won I would quit my job then buy a home in Maui, invest a substantial amount in a low risk fund then live off the interest. I wouldn't tell my family. I'd also buy my wife a nicer and fancier engagement ring. Also, i'd get the new STI since I love my subaru and don't need anything super fancy. If I won I would quit my job then buy a home in Maui, invest a substantial amount in a low risk fund then live off the interest. I wouldn’t tell my family. I’d also buy my wife a nicer and fancier engagement ring. Also, i’d get the new STI since I love my subaru and don’t need anything super fancy.

]]> By: Jamie http://allfinancialmatters.com/2008/04/04/if-you-won-the-lottery/comment-page-1/#comment-402462 Jamie Fri, 13 Feb 2009 08:40:18 +0000 http://allfinancialmatters.com/2008/04/04/if-you-won-the-lottery/#comment-402462 It's interesting to see how everyone would spend their loot. It's also easy to see who will be broke in 5 years. Well… so what would I do? I’d disappear, and I mean vanish without a trace except for my cell phone and when anyone called I’d probably tell a little white lie about where I am. I wouldn’t want anyone to know. From what I’ve read the lotto has destroyed many relationships, and I wouldn’t let it touch any of mine, I love them too much. Meanwhile I’m in Europe and I’ve upgraded my cell to the global plan. Living life to the fullest! Not staying in high class places, actually just booking in hostels and partying my ass off because…I have to decide what the “f” I’m going to do with the rest of my life. So I send a postcard to one of my closest friends who is newly single and good with money…I need advise. On the post card is instructions to find a key, the key takes him to a safety lock box in a local post office where he finds a small lump some of money and a first class ticket to Portugal. There I’ll meet him and let him in on the secret and how I wish him to keep it that way. After a few month of traveling Europe we return home to get to business. 1. I meet with the right CPA / attorney / and financial planner. 2. There it will be discussed how to make this money last the rest of my and close families lives and mine. 3. Funds will be set up to closest friends and family in the form of trusts. Matters will be discussed on how to keep this all a secret. Mums the word! 4. Several homes will be purchased for vacation but only to be managed by management firms so they will be making money on the side, or paying for themselves. I just want the ability to escape to Whistler or Hawaii whenever I feel. 5. No money will go to any church. As much as I respect ones faith in a higher power I don’t think any church is starving. Instead some will go to the local pet shelters and something along the lines of children in distress, be it homeless orphaned or make a wish foundation. 6. As for the rest I would set an amount to invest to where I make 150 – 200k a year to actually live off. If that’s not enough for anyone then you’re blowing too much cash, even 200 is probably too much if you own your home and everything is paid off. 7. Ahh and council, which is a big one for anyone. Having a councilor to talk to about everything would be definitely worth every penny. Always someone to talk to about anything. Maybe sometimes I’ll just be paying him/her to take a nap in his/her office on that long comfy couch. LIFE IS GOOD. As for the reasoning behind my new found smile for those who will never know the difference…well my company that I own has taken a new found change in events. I’m in construction and we came upon a very wealthy family that has hired us to do a major renovation to several of his homes. It could take years to complete! I’ve hired everyone to take care of everything. I just take a cut off the top. Cheers - Drawings tomorrow! It’s interesting to see how everyone would spend their loot. It’s also easy to see who will be broke in 5 years. Well… so what would I do? I’d disappear, and I mean vanish without a trace except for my cell phone and when anyone called I’d probably tell a little white lie about where I am. I wouldn’t want anyone to know. From what I’ve read the lotto has destroyed many relationships, and I wouldn’t let it touch any of mine, I love them too much. Meanwhile I’m in Europe and I’ve upgraded my cell to the global plan. Living life to the fullest! Not staying in high class places, actually just booking in hostels and partying my ass off because…I have to decide what the “f” I’m going to do with the rest of my life. So I send a postcard to one of my closest friends who is newly single and good with money…I need advise. On the post card is instructions to find a key, the key takes him to a safety lock box in a local post office where he finds a small lump some of money and a first class ticket to Portugal. There I’ll meet him and let him in on the secret and how I wish him to keep it that way. After a few month of traveling Europe we return home to get to business.

1. I meet with the right CPA / attorney / and financial planner.
2. There it will be discussed how to make this money last the rest of my and close families lives and mine.
3. Funds will be set up to closest friends and family in the form of trusts. Matters will be discussed on how to keep this all a secret. Mums the word!
4. Several homes will be purchased for vacation but only to be managed by management firms so they will be making money on the side, or paying for themselves. I just want the ability to escape to Whistler or Hawaii whenever I feel.
5. No money will go to any church. As much as I respect ones faith in a higher power I don’t think any church is starving. Instead some will go to the local pet shelters and something along the lines of children in distress, be it homeless orphaned or make a wish foundation.
6. As for the rest I would set an amount to invest to where I make 150 – 200k a year to actually live off. If that’s not enough for anyone then you’re blowing too much cash, even 200 is probably too much if you own your home and everything is paid off.
7. Ahh and council, which is a big one for anyone. Having a councilor to talk to about everything would be definitely worth every penny. Always someone to talk to about anything. Maybe sometimes I’ll just be paying him/her to take a nap in his/her office on that long comfy couch.

LIFE IS GOOD.

As for the reasoning behind my new found smile for those who will never know the difference…well my company that I own has taken a new found change in events. I’m in construction and we came upon a very wealthy family that has hired us to do a major renovation to several of his homes. It could take years to complete! I’ve hired everyone to take care of everything. I just take a cut off the top. Cheers – Drawings tomorrow!

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