What To Do If You Win The Lottery?

Discussion in 'Off Topic Discussion & General Questions' started by NinetyEighty1, Aug 11, 2017.

  1. NinetyEighty1

    NinetyEighty1Active Member

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    What are some methods some of you have if you would win the lottery? What plans do you have in mind to keep your from wasting away your winnings and probably use whatever money you won? Would you invest it into anything and find ways to make more money from your winning?
     
  2. nangk08

    nangk08Member

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    I have never won a lottery and I think I never will because I never buy any! But I often think of what I would do if ever I get into a lot of money. The first thing I would do is put the exact half of it away in savings which I will never touch for spending, I will just keep it as my stash for a rainy day. I would use the remaining amount to do what I always wanted to, travel the places I dream of visiting, buy a decent sized land to indulge into my love of gardening, buy gifts for the people I love etc.
     
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  3. NicholasMukuha

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    I have always asked God for a chance to prove that winning the lottery will not make me a bad person. If I happen to wake up to the reality of this dream, I would first separate the money into two. The first portion, and not necessarily a half of the total amount, I would give a tenth to the church as a thanksgiving, and the other throw a party for family and friends.

    The other portion, I would buy a piece of land, fence it with walls stronger than those of ancient Jericho, build a house and invest the other in agricultural activities for commercial purposes. I would dig a borehole for irrigation during dry season, and save the rest, if any, for future use. You know, to pay dowry, or something.
     
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  4. Shine_Spirit

    Shine_SpiritActive Member

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    The first thing I would do was travel the whole world to know every piece of land on that globe... Then I think I would open my own company and I would help various charities.
     
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  5. Zero

    ZeroActive Member

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    Well that's an easy question, i'll create my own business in order to have a steady income.
     
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  6. Krissttina Isobe

    Krissttina IsobeWell-Known Member

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    Well, for me I'd save some for taxes...I'd get an accountant, to tell me exactly what to expect in paying taxes for winning the lottery. Here in Hawaii, it's illegal to have a lottery, so I can only watch the news and wonder if lotteries will ever come to Hawaii, lol. After taxes are figured out and saved, I'd first put it in a savings account, all of it. The interest alone will be enormous! Then I'd get my credit cards and pay it all off. While I'm putting my lottery winnings in my savings account I'd ask customer service how much interest I'd make in a month, then go from there of what else I'd do next. :D
     
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  7. Barida

    BaridaMember

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    I always buy lottery and hoping that soon, I have to win once more. When I started playing lottery new, I won some money and because it was my beginning time in the game of bets, I wasted the winnings on drinking with friends that were around to celebrate my victory.

    Now that I have learnt some lessons about money management, if I am lucky to win a lottery soon, I will make sure 75% of the winnings go into investment or use most of the winnings to purchase products that can last for a long period of time. Products such as electronics, mobile phone and clothes, so that each time I make use of such products, I will recall that it was the lottery money that made me buy them.
     
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  8. TheOtherSide

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    It has always been a dream of mine to one day win the lottery and I guess all are. And I make it a point to at least buy a lottery ticket whenever I can, it's the only way I know to achieve this fantasy. If given a chance, even half the prize, I would certainly invest part of it to some good business partnership. Others I would deposit to my bank account, and the rest I will spend on a good vacation house.
     
  9. NinetyEighty1

    NinetyEighty1Active Member

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    Sounds like something similar to what I would do. I would save a good amount in the bank and use the rest for a little fun. Then, I would try to either make my own business or invest in another.
     
  10. Shana Peckover

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    I guess I have to play the lottery to win it....but if I did, I would take care of my family first and give them what they need. Then, I'd pay off all of my debt, and then.....who really knows?
     
  11. Shine_Spirit

    Shine_SpiritActive Member

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    I think these options are the best (at least for an immediate decision) when you make a lot of money. I'm in love with travel and getting to know new places.