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Congrats, you just won 5 million in the lottery!

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Postby moonhead » Sun Jan 14, 2007 2:59 pm

i'm going to purchase my own island. build a comfortable home. have a bit of animal stock. grow my own pot. and live off the land. perhaps build a helicopter pad or a runway on my island. that is, if i want anyone coming to visit.
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Postby beanoX3 » Sun Jan 14, 2007 5:16 pm

Taxes usually take up to 60%-70% out of lottery winnings. :-P


But anyways, I probably wouldn't do anything fancy with a small jackpot. New place to live, new Beemer, and some nice electronics to play with. Invest the rest.
;-D
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Re: Congrats, you just won 5 million in the lottery!

Postby Munboy » Sun Jan 14, 2007 5:40 pm

josebach wrote:
Munboy wrote:In honor of the other lottery thread about the stupid dude who blew his money, I was wondering what you would do if you won a modest lottery.

The jackpot was 5 million and you decide to take a lump payment and the government took half. You know have 2.5 million. What would you do with it? Here's what I'd do.

1) Tithing (250,000..ouch!)
2) Pay off all debt (around $20,000 :*) )
3) Buy a nice house up the hill (around 300,000)
4) Pay off in-laws mortgage (under 100,000)
5) Build a new house on my parent's lot (around 200,000)
6) Buy a couple nice vehicles for my wife and I (around 60,000)
7) Children education funds (around 100,000)
8) Agressive investments (500,000)
9) Low risk investments..bonds, savings (500,000)

Unless my fingers punched the calculator wrong, that leaves me with around 470000 to play around with. :-b


Good plan! That's super close to what I would be doing except instead of tithing I would hand pick charities to get involved with. I would also probably drop a couple hundred extra grand on a house. $300,000 doesn't buy anywhere near as much as it used to (at least in Tallahassee).


Yeah, in bigger cities, 300,000 will get you a tiny 2 bedroom house, but where I live cost of living isn't high. That kind of cash will get you a NICE house in one of the nicer neighborhood with the rich folk...the lawyers and business owners and the type...up the hill.
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Postby Mercer Boy » Sun Jan 14, 2007 6:42 pm

All I want is a nice house with a 400m running track and a bowling alley...and a new house for my mom and dad also. After that I can put a good amount in safe investments and try to live off the interest. I don't ask for much except not having to work and being able to watch sports whenever I want. ;-D

Oh, I would also have to hire a chauffer because I hate driving. He could take me to Pirates and Penguins games. :-)
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Postby Kilroy » Sun Jan 14, 2007 6:47 pm

Powerball's at $180,000,000 for Wednesday. I'll let you know my plans after I win.

:-B
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Postby confused_jake » Sun Jan 14, 2007 7:28 pm

This is probably a really stupid question, but what is tithing?
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Postby beanoX3 » Sun Jan 14, 2007 7:36 pm

confused_jake wrote:This is probably a really stupid question, but what is tithing?

The amount may vary, but usually it's 10% of your income, donated to the Church.
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Postby Omaha Red Sox » Sun Jan 14, 2007 7:37 pm

confused_jake wrote:This is probably a really stupid question, but what is tithing?


10% of your gross earnings given to the Church. ;-D
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Postby confused_jake » Sun Jan 14, 2007 7:42 pm

Omaha Red Sox wrote:
confused_jake wrote:This is probably a really stupid question, but what is tithing?


10% of your gross earnings given to the Church. ;-D



ooo ouch, thats a lot. no wonder i hadn't heard of it, im not a religious person.
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Postby Omaha Red Sox » Sun Jan 14, 2007 8:04 pm

confused_jake wrote:
Omaha Red Sox wrote:
confused_jake wrote:This is probably a really stupid question, but what is tithing?


10% of your gross earnings given to the Church. ;-D



ooo ouch, thats a lot. no wonder i hadn't heard of it, im not a religious person.


Neither am I. ;-)
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