A million dollars is not what it used to be, but still it's a lot of money.
I've read stories about people who've won a lottery and many of them couldn't handle it. I remember the first people that won the Georgia lottery many years ago. There was a story in the paper and they guy said, "we're going to buy us a double-wide." Some dream small and others dream large.
Many people are right back where they started a year or so after they won the money.
Several years ago a guy from West Virginia, won $314 million dollars. He took the cash option and walked away with $114 million after taxes. The money, instead of being a gift, turned into a nightmare.
I'd like to think that wouldn't happen to me. I'd like to think I'd be smart enough to invest the money and live off the interest. But who knows?
But back to my original question -- have you ever wondered what you'd do if you suddenly had a million dollars in your pocket?
I was having a casual chat to one of my work colleagues about this exact thing (cept it was what to do if we won the lottery) and she put me to shame cos she said the first thing she'd do after she looks after her family is to pay all of our mortgages. Everyone of her work colleagues' mortgages cos she knows how stressfull such things are in daily life! I was like - that is the nicest thing ever and there I was thinking I'd resign, buy and island, turn it into an animal/nature sanctuary and live as a rich recluse with Charlie! LOL! take care
ReplyDeletex
hard to believe that winning the lottery ruins people's lives but it does. I hope that I would be smart enough to just bank it and continue my life as usual only without the stress of wondering if the next job would come in in time.
ReplyDeleteI'd continue to live a simple life, buy a small but new home, new SUV and travel to see our families whenever we want. That's all that matters to me at this stage in my life. I've had the diamonds, the designer clothes, the hair salons every 5 weeks, nails every other week, etc. etc. That's not what makes me happy right now.
ReplyDeleteHi Rick:
ReplyDeleteSo very true what you wrote here about winning the lottery, years ago I was asked to interview people who won the state lottery in the state I live in and send the info to 20/20 news report. There were some stories that amazed me -- for the expectations and the jealousies of others hounding the winning person/family forced the winners to moved & change their names for privacy & protection.
However your question is what would I do.... if it is the one million dollar jackpot -- I would take the lump sum -(which is only 500,000) donate to a couple of org's & take a trip or two and invest the rest.
joanny
thanks for becoming a follower- now following you back.
A million dollars? Humm, I don't think I can count that high.
ReplyDeleteLike someone said, "Money can't buy happiness, but it can sure make being miserable more comfortable." ...have a good weekend - Marsha
Years ago when we were in Amway, they asked this question, and our answer back then was, "pay it on the bills as far as it would go." Our kids were young and it seemed like there was never enough money to go around.
ReplyDeleteThese days, I would just like to have the house and cars paid off and know that if something was to happen to one of us the other would be fiscally sound. So, most of it would go into savings.
A million dollars used to seem like a lot of money to me. I am just always amazed at how quickly it can evaporate!
tm