Friday, January 18, 2008

Windfall

Have you ever dreamed of winning the big lottery, of all the things you could do with the money? C'mon, I know you have. I most certainly have. Some may consider it a waste of time to dream of what you would do with the windfall if it were to ever come to fruition. But what you do with all that cash could determine how much you enjoy it. Here is my list, after meeting with an attorney and financial advisors, of course:
1. I would pay off every penny of my debt and my children's debts.
2. I would create a college fund for my grandchildren.
3. I would sell my house and build a small, energy efficient home of my own design in the country.
4. I would buy my husband that elusive recliner he has wished for for so long.
5. I would create a trust for my children to ensure their financial futures.
6. I would share some of my winnings with my friends and relatives.
7. I would visit my daughters in London and Chicago as often as I wished.
8. I would go back to college.
9. I would set up a charitable trust and manage it for the benefit of others so as not to let the money steal my soul.

Here is what I would not do:
1. I would not build a huge house. That is just not me and I hate to clean anyway.
2. I would not buy jewelry. I am not a bling, bling kind of person.
3. I would not quit working. I would work for the charitable trust and do volunteer work but I would not want to be idle for too long.
4. I would not gamble away my money like some winners have.
5. I would not spend rashly without thinking it through.

What would you do with the winnings if it happened to you?

3 comments:

Anonymous said...

Much the same as yours, even down to the recliner for my hubby! I think I would also build a barn and get a couple horses. I would volunteer at a few charities that mean a lot to me and maybe even start one of my own. I'd also do a lot of traveling -- South America, East Asia, Africa, New Zealand...and all 50 states!

andrea said...

i agree with both you and amity. i would definitely set up a foundation and give myself a job. i'd travel the world, pay off debts (those of mine, friends and family), i would buy a nice condo in the city and a small flat in london, so that i can travel back and forth whenever i want. no recliner in my future, though!

adam said...

i love playing the "lottery game"! i would definitely pay off family and close friends' debt. i would set up a college fund for my niece and nephew. i don't think that i would stop working, but it would be nice to know that i'm working because i chose to, other than having no choice. i would definitely buy a nice single-family home in the city. and, of course, i would be traveling to places all over the world.

and i like andrea's idea to buy a flat in london - perhaps we could go in halvsies on a nice flat of our choice! (would that entitle me to citizenship?!