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Tuesday, March 6, 2012

Question of the Day: Winning the Lottery

What would you do if you won $10 million?  How about $50 million, or $100 million?

My first inclination would be to set up a comfortable life (house, cars, insurance) and then live a relatively normal life (except maybe some travel plurges)...The big choices would be about continuing to work and possible donations.  Also choosing a good lawyer, accountant, and financial advisor would be a priority...

Who would you tell?  Family?  Friends?  Colleagues?  Clients?  Who would you never tell?

2 comments:

chibi said...

Keeping the job or not......I can't decide yet, but I will definitely NOT tell colleagues, clients, and most of my friends.

Marie said...

I'd keep it very quiet too. Unfortunately, a Lottery win does attract all kinds of attention, from the mildly annoying to the downright sinister. I'd tell as few people as I could get away with.

First, I'd see about ensuring myself financial security. Whatever the sum was that would guarantee me that, even if I lived to be 110, I'd bank it and leave it alone. That way, I'd always have something to fall back on. Then I'd pay off my mortgage because I'd really prefer not to have it hanging over me. I'm grateful that I'm able to afford it, but a debt's a debt, however you dress it up.

I'd travel more and I definitely wouldn't be hanging around waiting for PS3 games to come down in price. But to be honest, I can't really think of anything huge that I'd do or buy. I'd love to buy up all the empty shops in our high street and make it so that small businesses could actually afford the rent, but I think there'd be a few legalities preventing me from doing that.

I'd imagine that the bulk of the Lottery win would just sit there, waiting 'til something occurred to me, much as my disposable income does now. And I can't really imagine "something" being the kind of thing that costs thousands.