What would you do if you hit one of the multi-million dollar lotteries?

[Newbee]

Firstly I would quit work then buy a house and a new car for me and my husband and then go see a financial planner

[feralfreak]

Pay off debts, fix my home or have it completely rebuilt, maybe look into seeing what it would take to start a charitable home repair group (hmmm, faith builders, hmmmm) since there aint one here, i know,  i checked, get as much of the land my late papaw had back on one deed, and id like to set up a big barn and build tiny homes to donate to homeless vets (they served their country and have to live in the streets? Disgraceful! ), oh well, its nice to dream,,,, and buy a nice sized island to move my family to, start a resort on it, and look into what it would take to start a conservative boarding school,  with the resort at least supplimenting the school  (depending on how much I would win) and hope God might see these things as being of service to him (even though id be lucky to be equal to a flea is his book), never hurts to dream.

[fillemup]

Buy a big plot of land and have a really nice house built on it and retire.

[Alex Bridges]

I like what I do, but I’d open my own non-profit to continue doing it, and I’d hire a GM so I could spend half the year traveling.

[AbabeBill]

Well after getting all the legal, and financial stuff in place to protect myself, and my new found winnings. I would look to get, my wife and I a place, or places, to settle in and be comfortable with. Not huge mansions mind you, not into that. But I do want that AB nursery room! 

Next would be, take care of family and some friends. I wouldn’t give out huge sums, but enough to share the good fortune, and help out. Have to face that, some need it more, and some don’t really deserve to be handed a huge sum of money. But everyone would get something. 

Once I know I’m secure for life, and will always have income from investments, and family are taken care of. Next would be, to setup accounts for charities. I would like to do so, in a way that these too, would be funded by interest from investments. That way, they will always have contributions coming in to them, and not just a one time payment. (I think that helps guard, from some greedy so and so, running off with your contributions), lol. 

Thats pretty much my “short story” on what I would do with the winnings. There are of course, many more personal things I would like to do and experience. And just some quick examples are, traveling, buy some favorite cars/toys, being able to fully indulge in my model train hobby, oh yeah, and a really big one, guit working for a living !!!!!!! I can most certainly keep myself busy enough, and not work (for someone else) another day in my life, thank you! 

[WetDad]

Retire and spend my time in the garden with my wife. Travel as we see fit, and collect artworks from local artists around the world.

[Little_Mouse]

If I won one of the really big prizes i would create a non-profit organisation to help some of the poor and weakest people in our society who really need help but does not get it because they are to weak to know and fight for their own rights and needs in my countrys social wellfair system.

A system were some of the weakest ones who need help, does not get the help they need, while some stronger individuals who know their rights and have the energy and ability to fight for it gets help even if they may not need it.

That non-profit organisation should provide human and legal support to those of the weakest that get lost in our society today, because of that system.

[ShadeOfAce]

First, I would give a lump-sum of it to my parents, as a thank you for raising and putting up with me. Maybe buy them a nice house by the lake ot send them on an all expense paid vacation.

After that, I would divide it up into multiple sums and deposit them across more than one bank. That way, if the bank gets robbed or goes under I don't lose everything. After that, I'd buy myself a nice apartment or bungalow and splurge a bit on electronics, diapers, and anything I want that makes me happy. 

[Brutal]

Well money would change me... I'd be absolutely obnoxious. I still buy a ticket even though the lottery is essentially a voluntary tax on those who are bad at math.

[kasarberang]

I would buy a small 2 or 3 bedroom house, help out my siblings financially. Save up enough to last me comfortably for life and give the rest to charity/family

[BabyJune]

After the IRS takes their share, I'd go out for a smoothie...a SMALL smoothie.

[AbabeBill]

20 hours ago, BabyJune said:

After the IRS takes their share, I'd go out for a smoothie...a SMALL smoothie.

And why not really live, use a plastic straw! ?

[square_duck]

I think the first thing I would have to do is change my pants? I don't want to be smelling funny while in the bank!!! 

[lilstevie]

Sell the house in the suburbs . Buy a small tract of land with a creek or stream running thru it. Build a large treehouse . Retire happily to said treehouse.

[Bumble_Bee_J]

Id love to buy a small cottage with enough land for a couple of dogs, a cat, some chickens, ducks and a goat.

Then id get my sister and her family, my brother and his mrs and my mum all houses.

And lastly id love to open a tea room/bookshop.

[WetDad]

Retire

[Idzy]

On 10/12/2018 at 8:51 PM, DiaperboyEddie12 said:

I would then see a financial person to invest the rest so I can collect a nice check each month from the interest.

Yeah, probably don't do that. I'm one of those people involved in investment banking and financial advice. Let me assure you, the industry does not have your best interests at heart. I'd recommend buying property with a high rental yield, or buying a broad index of stocks. Bank deposits are around 2%, so totally  useless, and you've got to be a sophisticated investor to do better in the immediate short term. There are lots of funds offering 6 to 8 percent, but if you read the fine print, they're risky as hell.

On 5/17/2019 at 5:13 PM, Brutal said:

I still buy a ticket even though the lottery is essentially a voluntary tax on those who are bad at math.

That's not entirely true. If you're actually good at math and willing to take a huge risk. There are times where buying every combination of numbers (guaranteeing a win) will yield a profit, just so long as nobody else wins too... It'll cost you a lot (millions) for the ticket, but you are guaranteed to win, only problem is if someone else chances it too.

Gambling winnings are not taxed in Australia, I'm not sure about the US. Make sure to take any taxes into account if attempting an arbitrage win.

[Idzy]

On 11/2/2019 at 7:44 AM, WetDad said:

Retire

Tried that, the boredom kills you.

I sold my previous company for a LOT of money, several times that of winning the lottery. At the end of the day, I just started a small business doing easy stuff, that I enjoy and isn't stressful. Gives me a purpose, and in an industry I love. It doesn't make much in the way of  profits, but I don't need  it.

[Idzy]

On 1/22/2019 at 3:38 AM, Newbee said:

and then go see a financial planner

PLEASE don't. They'll rip you off sooner than you can say cat in the hat. Understand investing for yourself, don't trust some dickhead off the street with your money. I mean this with the utmost of sincerity, as I work in that industry. Personally, I give the best advice I can, and work hard for the prosperity of my clients. Most do not. They'll put you into risky funds, just so they can get the commission. If you ever win the lottery, just remember one thing "a fool and his / her money are  quickly parted"

[WetDad]

On 11/6/2019 at 11:40 PM, Idzy said:

Tried that, the boredom kills you.

I sold my previous company for a LOT of money, several times that of winning the lottery. At the end of the day, I just started a small business doing easy stuff, that I enjoy and isn't stressful. Gives me a purpose, and in an industry I love. It doesn't make much in the way of  profits, but I don't need  it.

To me, being retired means I get to do the things I want, instead of the things my budget demands. I have many hobbies, a wife who I love spending time with, and a community we have both been involved with for 30+ years. Boredom will not be my problem.

[Sparkle Dust]

Pay off my debts and parent’s debts (mortgage).  Upgrade to bigger apartment.  Travel more.  

Write full time.  (I’m an auditor).  Maybe wear diapers 24/7. Hire artists to make my  OCs into an actual comic.  Yay!

Maybe make Phoenix Pharmacy an actual store.