What would you do if you won big on the lottery?

[Bugatti Fan]

First off I would have most of the money deposited in a number of off shore and Swiss bank accounts. Can't have the tax man arriving with a swag bag can I?   

Having retained some fun money from it a nice luxury place with panoramic sea or lake views, a couple of classic cars (one of which would have to be a Rolls) and a newish Lexus runabout would be my main purchases.

When the grim reaper comes to call, all the assets would have been consolidated into trusts to lawfully avoid tas that would be water tight for named recipients.

[LDO]

Oh yeah- commission a model company to make a 1/8 scale Duesenberg Model J in styrene. Make several bodies for it; Mudd Coupe, Judkins Coupe, Murphy Town Car. Maybe more. 

[OldTrucker]

Go check my wife into the Mayo clinic and say fix what you can and if there is anything left then I'll let them have a look at myself!

[bobss396]

3 hours ago, 1930fordpickup said:

One thing I have noticed about Lottery winners that go broke. They don't look past today with spending. Just like professional athletes, they forget the money runs out. Even 750 million after taxes. 

Now a nice injection mold shop to cut new tools ran in my home country ( yours may be different) is a good thought. 

I knew of a couple that hit something like a $3 million state lottery. They sold the rights for something like $300k when it all settled.

After 18 months, they lived in the same apartment, had the same cars and were .. BACK TO WORK! They blew it all partying.

[bobss396]

3 hours ago, vamach1 said:

Interesting no one has mentioned health.  Starting to see a lot of people my age (66) pass away.  Not much sense in having millions if you an are not around to enjoy it for a decade or two.  Along those lines get a trust/will.  Relatives can ge nasty over money.  As for cars, I would like to have maybe ten as maintaining them would start to feel like a chore.  I’d knock out my bucket list by age 70 if possible of places to visit.  Have a nice room for displaying model and diecast cars and of course a nice house with a separate garage and man cave.  Get a second place because my wife would not want to take care of all the cars but my two children would take over that responsibility with enthusiasm.  I meet a lot or people that like older cars and performance cars and their children could care less about them.

I just turned 70, my girlfriend will be 71 soon, she is finally retiring. Our health is good, we are active. I need to do some trust work sooner than later.

I'd like to see my kids retain the house. If they want to sell it, fine.

You can dream TOO big with a ton of money. I'd be happy with a 2nd house, do some traveling and get a good cat sitter.

[Chuckyg1]

I'd throw away my alarm clock first, then give a  needy, deserving person $10,000 to tell my boss where I'd like him to go. After that.......    what ever I want. Travel is on the top of the list.

[meechum68]

Pay current house off, get 4 plots of land ... small trusts for each kid and plot.  Charge each kid rent, cuz nothing is free, use rent paid to go into a property tax and insurance fund. 

Move to the boonies, build subterranean home (Or built into mountain side) with full off grid, build green house.  

Have big shop for cars and my truck. Have a big hobby room for myself and my wife.  

Fish, read, hunt, and putter in the garden. Build models, just relax and take care of my health. 

Collect winnings via lawyer and shove 80% of it into a trust. Donate 5% to 2 charities I support. 

 

 

[Volzfan59]

I honestly don’t know? Everything we have is paid for, houses, car, truck, my boat. We don’t believe in credit cards or debt. Probably just stick it in the bank/invest it.

Edited Tuesday at 03:35 AM by Volzfan59

[bobss396]

I still carry a big mortgage and have 3 car payments. The Mustang will likely be paid off sooner, the next earliest one will be paid in 2 years. My credit card debt is less than $1000, for some dental work. Once that goes i can pay down the cars at $500 a month.

I'll be playing my usual games tonight, it would be nice to be filthy rich instead of being just filthy.

 

[Brutalform]

1 pay off everything.

2 donate to actual worthy causes. 
3 move away from the US. 
4 buy a castle. 
5 furnish said castle. 
6 disappear forever. 

[ChrisBcritter]

Retire and let my boss twist in the wind (and he would never get another cent from me after he took everything I had). Buy my partner and me a nice home somewhere with trees and space for his dogs and cats, a big model room for me, and make sure his mom is comfortable for the rest of her life and his goddaughter gets a good education. Help out my brothers' six kids as well. 

If I don't win, forego the above and try to get by on my Social Security benefits.

Either way, I have enough models to keep building for a long time so I won't be buying more (OK, the '60 Impala wagon, but that's it... honest!).