If you won the lottery whats the first thing you would do?

[Maisie]

I would buy a fabulous car and a huge diamond! I would go house hunting too and get a lovely big family house.

 

[KimberlyH]

Depends on how much I''ve won. If it''s a ton of money I''d dump a bunch into retirement, buy myself and my husband new cars, and buy the house we''re in love with.

 

[BeachRunner]

Pay off my student loans and vehicle (or just trade it in for something fabulous!) I''d go shopping, give some to family, then travel!! When I came back, I''m sure FI and I would buy a modest house, and I''d probably further my education. Is that boring?

 

[Lauren8211]

1. PAY OFF MY STUDENT LOANS!

- Buy my parents a new house in a location that they'd be happier
- Buy my brother a really cool condo
- Buy FBIL and FSIL a cool place in downtown Chicago
- Buy FMIL and FFIL ... maybe a really cool RV? They'd love that.
- Buy FF and I a house in our dream neighborhood
- Pay for a wedding

Invest the rest!

 

[elrohwen]

Hmm, I would probably put it in the highest interest savings I could find and then sit on it for a few months until I decided what to do. At this stage in my life, I would most likely use it to buy a house. And maybe a little sparkly on the side

 

[NewEnglandLady]

Invest it. Travel.

 

[Bia]

If it was quite a bit, 20 million or more, I''d set up a fund and give immediate family each an equal share to the pot, while still allowing most of it to collect interest.

Then I would:

-Buy our dream home in our dream neighborhood and buy a boat to tuck away somewhere
-Plan an amazing vacation for FI and I, and our families...the people we want ONLY
-Plan our wedding
-Pay off any debt
-Help extended family (to a point...because with my extended relatives, this here will get very tricky)

and just be exhilaratingly happy

 

[lulu]

We have a friend who rescues dogs no one wants. He essentially lives in a barn with 40 dogs and lives on donations. Sometimes he can find them homes. We always talk about buying him a huge piece of property with kennels and barns. Until the big one happens we''ll just keep sending him a donation every month.

 

[Maisie]

I would also give some money to charity. I would choose one that deals with neonatal deaths and stillborn babies.

I got carried away with the material things for a minute!

 

[gemgirl]

First I would thank God. Then I''d pay off every last bill we have including my mortgage. Then I''d just sit on the rest and think about the best way to save it. I wouldn''t touch the remaining principle amount, but I would probably spend some of the interest on things like a yearly vacation and really anything that we can''t have now with such a tight budget.

 

[Madam Bijoux]

I would get a 10++ carat D color marquise. If I had anything left after that, I would go to the Oak Room at the Plaza Hotel and have a drink.

 

[princesss]

Hire a financial planner to advise me of the best first steps, then learn how to manage my money.

Pay off all my college loans.

Plan a really fantastic trip. Not sure if I''d take it right away, but I''d definitely plan one!

 

[lucyandroger]

I love to daydream about this..even though I don't play lotto. lol

1. Pay off student loans

2. Buy a home (multiple homes if it were A LOT)

3. Set up trusts for immediate family members and charity

4. Allocate a chunk for SO and I to go on a crazy shopping spree

5. Save and invest the rest.

 

[LadyBlue]

I will buy my dream apartment

 

[tlh]

DISAPPEAR. It is amazing what people come out of the woodworks for money... even family.

 

[D&T]

pay off my house and student loan, then buy my parents a house as well, then travel travel travel with the family,, and oooohhh....finally getting that dream honeymoon!

 

[Bia]

Which reminds me...MEGA Millions jackpot in NY is 220 Million. I am playing this week for sure.

 

[mrssalvo]

pay cash for a house then go a long family beach vacation...

ETA: while vacationing I'd be having the new diamond I buy set and the new eternity band made so they'd be ready when I got back

 

[Hudson_Hawk]

It depends on how much it was. If it were just tens of thousands I''m pay off my small minor debt (ccs, cars, and such) and put it in savings. If it were a large amount (like $500k or more) I''d pay off our house and my student loans and then pay off the other stuff. Yes, I would use ''most'' of it for bills and debit and I''d do it as soon as the money hit my bank account. why pay another day of interest when I could afford to pay it off all together? I might set aside $10-50k (depending on how much we won)or so for a treat for FI and I.

If I had Boku bucks I would pay off my parents houses and put money aside for my little brother''s college fund after paying my debt and putting alot in savings.

 

[LaraOnline]

Date: 4/29/2009 10:14:04 AM
Author: Madam Bijoux
I would get a 10++ carat D color marquise. If I had anything left after that, I would go to the Oak Room at the Plaza Hotel and have a drink.

That''s cool.
Working down the list till the money ran out...

I would pay off our house, our business loans and basically every debt I can find.

Then I would buy some investment property with a view to getting a ''nest egg'' for my kids.
(My mother was of the ''spend the kids'' inheritance'' viewpoint...I''m not doing that...

Then I would put some money aside for each of my kids, although come to think of it, not sure how I would invest that, so perhaps scrap that...

Then I would buy my man the fishing boat of his dreams.

Then there would be money left over for me to spend on sparklies... hopefully enough to match the boat expenditure!

but ''realistically - seeing as this conversation is just soooo realistic - I would probably spend about one third of the boat money...

Then I would give my MIL and my mum money,(to match the sparklies expenditure... no doubt my mum will immediately go overseas lol ) and possibly buy two self-contained units that would be suitable for them to live in near me, should they choose to use them.

No doubt my siblings and b-i-l and family would expect a little somethin'', enough for a fancy smancy car I guess, but I would give them a lump sum rather than a gift...

Then I would renovate.

The rest of the money would be used to invest...

 

[Elmorton]

How much winnings are we talking here? I''d need quite a bit for my plans, haha.

1) Pay off my student loans/debt
2) Pay back my parents for all the money they loaned me for school/wedding/etc.
3) Pay off my car
4) Pay off my house
5) Finish the basement in my house and other home improvements
6) Go to Italy
7) Start a college fund for future kiddos
Get a bad a$$ 3-stone EC
9) Get DH a new car
10) Go back to school take my sweet time getting a PhD without any financial woes/career pressure

 

[monarch64]

1. Pay back my parents for education, cars, etc.
2. Pay off all other outstanding debt
3. Travel the world!

 

[E B]

The first thing I'd do? Hire a financial planner to discuss saving/investing most of it.

First big purchase? I'd pay off my mom's mortgage.

 

[alli_esq]

of course, depending on how much...

quit my job and find a better one.

 

[MichelleCarmen]

After doing the financial planning and legal stuff. . .I would:

Buy a home
Furnish that home
Travel
Buy presents and hire an in-home nurse for my friend who is sick with MS
Give money to my in-laws because they''ve been very helpful to DH and me during times we''ve had money problems.

If I only won a million or two, I''d be careful with how much I spent because that amount of money wouldn''t go very far and I wouldn''t want to be one of those lottery winners who ends up broke! I might not even buy a new car because I''d want to lay low under the radar so to avoid long-lost friends/family coming out of the woodwork.

 

[tigian]

hmmm...so fun to think about!
I would:
-pay off student loans
-pay off car loan
-pay off my parents mortgage
-buy my husband a motorcycle
-buy some diamond studs
-get my doggies some new toys
-put money into saving until we are ready to buy a house
-give family members an equal amount
-fund a dog rescue that my husband would like to run
I''m sure there are so many more things I would do, but that is it for now.

 

[Dancing Fire]

all i want is to net 7 million after tax then i''ll buy ...

a 2 million dollar house and built a big koi pond in the backyard.
buy a few diamonds.
buy a few watches.
buy a new car.

 

[doodle]

Pay off my stupid student loans! Oh, and open my own wedding planning business. I''m mildly obsessed!

 

[MichelleCarmen]

Date: 4/29/2009 12:28:14 PM
Author: doodle
Pay off my stupid student loans! Oh, and open my own wedding planning business. I''m mildly obsessed!

That''s great that you''d still have plans/a hobbie to keep yourself busy.

What else would one do after winning the lotto? Play on PS all day?

 

[Gypsy]

Depends how much I won. But anything over 2 million (after taxes) and the first thing I would do is quit my job and register at the GIA for jewelry manufacturing courses.