I don't usually play the Lottery, mainly because I am cheap, but also because I end up fantasizing of what I would do if I won which ends ups being a set-up for utter disappointment when I inevitably lose (spoiler alert: I didn't win).
You know those people that win lotteries and within two years piss it all away? Yeah, those people suck. How does someone actually manage to piss away millions in a two to three year period?
Not I. I like to think I have it pretty well thought out. I have a list of things I'd do upon winning the lottery (estimated on a $32 million win). Not necessarily in this order:
- Pay off this dump. Put aside a chunk of money to flip it and sell it.
- Pay off my student loans and any other debts
- Start a search for a moderately priced, but well-built 3+ bedroom home with a second bathroom and a good chunk of property, preferably with water nearby.
- Put away 50k each for the girls education
- GTFO of town for a few weeks with the kids and the Well-Travelled one to get my head together and do some financial planning. Road trip.
- Take a percentage of winnings and put into investments and high-interest savings accounts
- Put aside a chunk for my parents, my sister, and handful of close friends to help them out
- Go from there
One extravagance I think I would definitely allow myself would be to replace all the shitty MDF furniture my house with actual real wood.
I think if I was smart about it, I could live out the rest of my life comfortably and somewhat modestly, and secure a future for my kids where they may still have to work, but would never have to worry about food or shelter.