Author Topic: Do you have a lottery fantasy? Post it here...  (Read 31002 times)

BlueHouse

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Re: Do you have a lottery fantasy? Post it here...
« Reply #50 on: November 01, 2016, 02:10:23 PM »
Lottery Fantasy:

I would also look for a way to keep the winning secret from everyone but my sister, but these are the things I would want to do (even if I have to pretend someone died and left money)

1.  Buy my mom a 2 BR condo in her same building -- so she has a place to sew, do paperwork, and other projects without having stuff lying around her tiny condo all the time.

2.  Pay off my mortgage.

3.  Help my brother with a personal issue (in case of divorce, help him get set up financially)

4.  Buy small travel trailer and travel to National Parks.  Would love to try boondocking, but with all my riches, I could stay wherever I want. 

5.  Maybe help my other brother get prepared for retirement.  It's hard to want to help someone who won't help himself and I'm so sick and tired of every facebook post of them eating at expensive places, drinking expensive wine, buying expensive crap, subsidizing their kids, just 2 years after bankruptcy filing! 

6.  I would like to start an investment company that makes money for investors and helps out low-income and homeless families at the same time.  It wouldn't work on a large scale, but it might work on a small scale. 
Sometimes nothing can be a real cool hand

Rubyvroom

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Re: Do you have a lottery fantasy? Post it here...
« Reply #51 on: November 01, 2016, 02:18:28 PM »
My SO gets lottery tickets fairly often. Every time he stops for gas actually. I will often fill up the tank for him on the weekend while doing errands to try to limit his lottery ticket purchases LOL.

He was an MMM non believer up until a few months ago but is coming around, and speaks quite often about what we'll do "when we retire." He still buys the occasional ticket though!

Our plan (ha...like this needs to be a plan) is to take lump sum and bust the money up into thirds. 1/3 goes into investments to support us, while the remaining 2/3 is split evenly between the two of us. We can do whatever we want with our 1/3 and agree not to argue about it. I have no clue what he'd do with his - probably shiny cars of the racing variety. I would have a lot of ideas but the main one that probably would not be possible during a normal FIRE trajectory (because in my mind only exorbitant amounts of money will be able to buy this) is...

Buy a fancy house on Summit Avenue (a fancy-pants, historically prestigious street with a ton of Victorian nonsense), raze it, and build an Earthship. When SO says, they will NEVER let you raze a house on Summit Avenue, I say, if our lottery winning is big enough they'll let me do whatever I damn well please! Also, a plot of land on Summit would work fine, I don't technically need to raze a house. I just want to put an Earthship front-and-center in the middle of a metro area in a location that would be extremely difficult to gain approval for. Maybe across the street from the Governor's Mansion. Oh wouldn't that be sweet.

Also, I'd give my autistic cousin a job. He feels damn worthless being unemployed, and hasn't been able to find a job in over 10 years. I might still do that when we FIRE, lottery or not.

gimp

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Re: Do you have a lottery fantasy? Post it here...
« Reply #52 on: November 01, 2016, 05:48:57 PM »
Pretending that it's post-tax money...

$100k: pay off the small remaining debt I have, upgrade my corvette, buy that plot of land I want, save (invest) the rest
$500k: see above, but consider whether I can buy a house
$1m: see above, probably buy a small house
$5m: see above

As long as I can keep my name out of the papers, that's all I'd need.

If not, I'd probably disappear for a good long while.

matchewed

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Re: Do you have a lottery fantasy? Post it here...
« Reply #53 on: November 01, 2016, 05:53:21 PM »
I fantasize that the lottery isn't a state sponsored thing which bilks poor people from their money. Obviously haven't read through the thread to see if someone already covered this. :)

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shelivesthedream

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Re: Do you have a lottery fantasy? Post it here...
« Reply #54 on: November 01, 2016, 05:55:13 PM »
Buy a fancy house on Summit Avenue (a fancy-pants, historically prestigious street with a ton of Victorian nonsense), raze it, and build an Earthship. When SO says, they will NEVER let you raze a house on Summit Avenue, I say, if our lottery winning is big enough they'll let me do whatever I damn well please! Also, a plot of land on Summit would work fine, I don't technically need to raze a house. I just want to put an Earthship front-and-center in the middle of a metro area in a location that would be extremely difficult to gain approval for. Maybe across the street from the Governor's Mansion. Oh wouldn't that be sweet.

YES. This is exactly the kind of eccentric millionaire stuff I would love to do.

kudy

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Re: Do you have a lottery fantasy? Post it here...
« Reply #55 on: November 01, 2016, 06:31:26 PM »
There's a business I've always wanted to build, but I likely won't ever be able to afford unless I win the lottery or get a large unexpected inheritance - I want to run a bowling center/arcade/restaurant/coffee shop/internet cafe.

talltexan

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Re: Do you have a lottery fantasy? Post it here...
« Reply #56 on: November 02, 2016, 11:38:21 AM »
I think the state lotteries in the US total $80 billion in annual gaming revenue.

An average of 16 million new cars are sold each year, if we assume $30,000 average price, that's $480 billion. Suppose the value of the existing car stock were constant each year, that would mean depreciation on cars was actually six times the total lottery spending. So, as shocking as it sounds, I think I can see that car depreciation is a greater financial threat than lottery spending.

WootWoot

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Re: Do you have a lottery fantasy? Post it here...
« Reply #57 on: November 02, 2016, 12:24:45 PM »
Hmmm...let's see. Replace my vehicle with an "new used" one.

Buy property, possibly in a more rural area, with a large lot so I don't have neighbors too close by. Build a replica of a Craftsman bungalow or an American Foursquare, complete with custom made stained glass windows with Charles Rennie McIntosh roses designs. Completely furnish the house.

Quit my job and look into volunteer situations, both to give back and to have structure to my days.

Contribute to 529s for my nephews and nieces.

Make sure my mom has enough money should she ever need to be an assisted living facility.

Plan vacations to Europe and anywhere else I want to go for the rest of my life.

That's all I can think of right now!

SweetTPie

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Re: Do you have a lottery fantasy? Post it here...
« Reply #58 on: November 02, 2016, 02:03:12 PM »
If I won a big jackpot, after doing the allowable legal wrangling that winning a large amount would require, I don't know what I would want to do!  I've wanted to do several things that are diametrically opposed.  The only constant is that I'd be selling my house and moving.  I would likely set up some small trusts for extended family members- nothing extravagant but enough for them to be taken care of wrt basics.

I've long wanted a hobby farm, and if I have that much money I'd get alpacas instead of sheep.  However, despite working a summer helping out on a llama farm, I have no idea if this would be a good fit for me as an adult owner, so I'd likely rent an apartment somewhere where I could 'apprentice' on a farm and get the experience I would need to make that decision.  It's not something I would want to just jump into without having some sort of knowledge base, not even with bunches of money to spare.

The other thing I've wanted to do is slow travel, both the US and, since cost would be no issue, internationally.   But this doesn't work well with having a hobby farm at all!

Half-Borg

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Re: Do you have a lottery fantasy? Post it here...
« Reply #59 on: November 02, 2016, 02:17:40 PM »

Obviously!

Then spend the rest of my life in total paralysis wondering what would be the best thing to do with all the money

JLee

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Re: Do you have a lottery fantasy? Post it here...
« Reply #60 on: November 02, 2016, 02:32:41 PM »
First, sell/give away nearly everything I own.  Second, expedite my SO's FIRE plan.  Third, I have a buddy with a nice fabrication shop, so I would talk to him about renting a room in his house and designing/building my truck and offroad trailer. I'd finish that over a few months and then go live semi-off-grid while exploring North America, figuring out what I want to do next.

Ensure nobody knows I won.  Take whatever measures necessary.  Lawyer up.

Immediately and anonymously give away 99% (to real charities, not any BS that walks up), accounting for taxes.  Live off the remaining 1% using the 4% rule, which is probably still six figures annually.

From what I've read about past lottery winners having their life go to hell, those two things ought to cover the bulk of what can go wrong.

Truly though, I feel like such wealth would not be nearly as enjoyable and satisfying as if I had earned it myself.

The average megamillions jackpot is $57.24 million. For the sake of expediency, I found an article using $400 million as an example - the lump payout was $223.6 million before tax.  If you give 99% of that away, you're left with $2,236,000. $115,505.75 comes out of the first $400k, and the remaining $1,836,000 is taxed at 39.6% federally. This leaves you with $1,393,438.25, or $55,737.53/year at 4%.

That is, of course, factoring in a dramatically higher than usual jackpot. Factoring in a 56% lump sum payout, the average jackpot of $57.24 million becomes $32,054,400. If you give 99% away ($31,733,856), you have a cool $320,544 before any taxes.

Pardon my napkin math, but I think that's roughly accurate while ignoring state taxes.

Half-Borg

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Re: Do you have a lottery fantasy? Post it here...
« Reply #61 on: November 02, 2016, 04:20:24 PM »
Wouldn't giving to charity reduce your taxes?

JLee

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Re: Do you have a lottery fantasy? Post it here...
« Reply #62 on: November 02, 2016, 04:25:12 PM »
Wouldn't giving to charity reduce your taxes?

Yep.

If we start with a lump sum payout of $223.6 million (before tax):

99% of goes to charity, pre-tax, so $2,236,000 remains.

$115,505.75 in federal tax comes out of the first $400k (tiered tax levels).  The remaining un-taxed $1,836,000 is taxed at 39.6% federally. This leaves you with $1,393,438.25, or $55,737.53/year at 4%.
« Last Edit: November 02, 2016, 04:27:03 PM by JLee »

gimp

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Re: Do you have a lottery fantasy? Post it here...
« Reply #63 on: November 02, 2016, 07:17:25 PM »
IIRC, you can only make so much charitable contribution before you no longer get tax benefits.

Taran Wanderer

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Re: Do you have a lottery fantasy? Post it here...
« Reply #64 on: November 03, 2016, 12:42:24 AM »
Shoot, if we won the lottery, everyone in town would know anyway, so we'd just go ahead and claim it.  As for what we'd do, I guess it depends on the amount.

$250k or less:  Pay off debt/invest, take parents and siblings and their families on a fun group vacation.  Probably just the normal summer vacation, but it would all be on us this year.

$1 million or so:  See above and gift some to our siblings (or 529 accounts for their kids), FIRE earlier.

$5 million or so:  See above and FIRE now.  Focus on volunteering and travel and have a sweet shop (or shops!).

$100 million or so:  See above and give some pretty good junks to our closest friends so they could play with us and have a lot of fun giving away a lot of money in our local community.  And occasionally fly in a private jet.

$500 million or something really obscene:  See above and own my own private jet.

I know a private jet is not mustachian and not environmentally sound and since I will never win a truly obscene amount of money, I will not have to worry about it, but I got to ride in a private jet last year, and it was truly spectacular.  The ability to go from our small local airport to locations hundreds of miles away in mere minutes is magical.  Yeah, the plane was nice, but what was really cool was the amazing ease of it all - drive up, load the bags, get in, take off, cruise for a couple of minutes, land, and you're there.  No parking structures, no crowds, no TSA, no arriving an hour or two before your flight, no baggage claim.  Yes, that's it, if I was obscenely rich, I'd live in a similar house with similar cars and own a private jet.
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Half-Borg

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Re: Do you have a lottery fantasy? Post it here...
« Reply #65 on: November 03, 2016, 01:34:37 AM »
Wouldn't giving to charity reduce your taxes?

Yep.

If we start with a lump sum payout of $223.6 million (before tax):

99% of goes to charity, pre-tax, so $2,236,000 remains.

$115,505.75 in federal tax comes out of the first $400k (tiered tax levels).  The remaining un-taxed $1,836,000 is taxed at 39.6% federally. This leaves you with $1,393,438.25, or $55,737.53/year at 4%.
Taxes are funny.
In that case, I would treat the government as a charity and pay the taxes out of the 99% and not out of the 1%.

mwulff

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Re: Do you have a lottery fantasy? Post it here...
« Reply #66 on: November 03, 2016, 01:52:26 AM »
My wife and I had the very same discussion. Assuming we won a completely insane amount like $10+ million we would work very hard to keep our anonymity intact.

Then we would wait until somebody won say $1-5 million and tell our friends and family that we won that amount. This would explain some of our follow-up actions.
0. Divide the money in 2 big piles. In for my wife and one for me. I suspect nothing will change in our marriage, but then the money won't be an issue.

1. Buy each of our brothers/sisters a house so they can live mortgage and debt free for the rest of their lives.

2. Set up trust funds for the 2 children in our family (niece and nephew) so that they can go to college without worry.

3. Set up trust funds for our 8 "borrowed-children" so that they get a nice college fund as well.

4. Make sure our parents never work another day if they don't want to.

5. Pay of mortgage, maybe upgrade to a slightly bigger house with a workshop. (So I can restore old cars and the wife can do her projects)

6. Never spend another winter in Scandinavia.

7. Retire to work on my hobby projects (this would be an instant reaction)

8. Buy my wife the Tesla Roadster she adores. Preferable in orange.

9. Tell everybody that we blew through all the money and now we are just ordinary people again.

I think that just about does it.

patrickza

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Re: Do you have a lottery fantasy? Post it here...
« Reply #67 on: November 03, 2016, 06:42:32 AM »
I don't pay the lottery, but I do like to dream.
$250k - Fire, take wife and our bicycles and go explore Europe for a while.
$500k - Fire, buy a small boat and go explore the world.
$1m - As above but give employ a struggling family member with an easy work from home job that doesn't feel like charity.
$2m As above with a nicer boat :)

Any more than that is just stupid money to me. I don't think I'd be able to give up my frugal ways and I hate wastage. Maybe I would force myself to fly business class, but I don't think I'd like it!

Uturn

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Re: Do you have a lottery fantasy? Post it here...
« Reply #68 on: November 03, 2016, 07:48:28 AM »
One for travel and one for local play. 
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Chris22

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Re: Do you have a lottery fantasy? Post it here...
« Reply #69 on: November 03, 2016, 08:38:55 AM »
^I'm not really an airplane guy, but there's a guy on the lake near us with a floatplane, and THAT is pretty cool.  I'd definitely look into one if I had an 8-figure net worth.
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Guses

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Re: Do you have a lottery fantasy? Post it here...
« Reply #70 on: November 03, 2016, 11:10:53 AM »
I'd set up a trust to fund research towards space exploration.

I would keep only a small portion to myself for spending on self sufficiency (tools, arable land) .

--------

Forgot to say, I would probably go and travel for a little bit with my family, get tanned, relax and swim with dolphins and other mammals.
« Last Edit: November 03, 2016, 11:14:18 AM by Guses »

Archivist

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Re: Do you have a lottery fantasy? Post it here...
« Reply #71 on: November 03, 2016, 12:09:52 PM »
I'll admit I fantasize about winning the lottery every once in a while because there's some things I would love to do that I know I won't be able to afford otherwise. I'd like to own a few different homes around the country to escape to when I desire a different climate and scene (mountain lodge, city condo, beach house, lake cabin...). I also want to be able to give my close family members a one-time big gift of money and take them on amazing vacations that we can all enjoy together. I want to be able to fly first class everywhere. I love travel, but excess money would make it so much more comfortable and easy.

JLee

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Re: Do you have a lottery fantasy? Post it here...
« Reply #72 on: November 03, 2016, 12:15:31 PM »
I'll admit I fantasize about winning the lottery every once in a while because there's some things I would love to do that I know I won't be able to afford otherwise. I'd like to own a few different homes around the country to escape to when I desire a different climate and scene (mountain lodge, city condo, beach house, lake cabin...). I also want to be able to give my close family members a one-time big gift of money and take them on amazing vacations that we can all enjoy together. I want to be able to fly first class everywhere. I love travel, but excess money would make it so much more comfortable and easy.

You don't need houses to accomplish that! : )

That'd be trickier for city living, though.

Archivist

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Re: Do you have a lottery fantasy? Post it here...
« Reply #73 on: November 03, 2016, 12:20:55 PM »
I'll admit I fantasize about winning the lottery every once in a while because there's some things I would love to do that I know I won't be able to afford otherwise. I'd like to own a few different homes around the country to escape to when I desire a different climate and scene (mountain lodge, city condo, beach house, lake cabin...). I also want to be able to give my close family members a one-time big gift of money and take them on amazing vacations that we can all enjoy together. I want to be able to fly first class everywhere. I love travel, but excess money would make it so much more comfortable and easy.

You don't need houses to accomplish that! : )

That'd be trickier for city living, though.

I should clarify that part of the appeal is the nice accommodations with comfortable furniture and full bathrooms and kitchens :) I want to have fun decorating them, too!

joleran

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Re: Do you have a lottery fantasy? Post it here...
« Reply #74 on: November 04, 2016, 11:53:42 AM »
I'd go to the ISS for a week or two.  There's probably $100m right there.

MichaelB

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Re: Do you have a lottery fantasy? Post it here...
« Reply #75 on: November 04, 2016, 01:40:13 PM »
I'd go to the ISS for a week or two.  There's probably $100m right there.

For a second there I read ISIS. And I was rather alarmed.

Half-Borg

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Re: Do you have a lottery fantasy? Post it here...
« Reply #76 on: November 05, 2016, 04:45:45 AM »
ISIS is pretty short on cash right now. I'm sure they would appreciate a 100m donation.

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Re: Do you have a lottery fantasy? Post it here...
« Reply #77 on: November 05, 2016, 09:44:54 AM »

I know a private jet is not mustachian and not environmentally sound and since I will never win a truly obscene amount of money, I will not have to worry about it, but I got to ride in a private jet last year, and it was truly spectacular.  The ability to go from our small local airport to locations hundreds of miles away in mere minutes is magical.  Yeah, the plane was nice, but what was really cool was the amazing ease of it all - drive up, load the bags, get in, take off, cruise for a couple of minutes, land, and you're there.  No parking structures, no crowds, no TSA, no arriving an hour or two before your flight, no baggage claim.  Yes, that's it, if I was obscenely rich, I'd live in a similar house with similar cars and own a private jet.

Have you been reading Stuart Wood's Stone Barrington novels?  Barrington went from retired cop with a law degree to this lifestyle.
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wordnerd

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Re: Do you have a lottery fantasy? Post it here...
« Reply #78 on: November 05, 2016, 10:14:46 AM »

I know a private jet is not mustachian and not environmentally sound and since I will never win a truly obscene amount of money, I will not have to worry about it, but I got to ride in a private jet last year, and it was truly spectacular.  The ability to go from our small local airport to locations hundreds of miles away in mere minutes is magical.  Yeah, the plane was nice, but what was really cool was the amazing ease of it all - drive up, load the bags, get in, take off, cruise for a couple of minutes, land, and you're there.  No parking structures, no crowds, no TSA, no arriving an hour or two before your flight, no baggage claim.  Yes, that's it, if I was obscenely rich, I'd live in a similar house with similar cars and own a private jet.
                                                                                                                                                                                                           Warren Buffett seems to agree with you on the same house and private jet bit. I believe he named his The Indefensible. :)

GuitarStv

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Re: Do you have a lottery fantasy? Post it here...
« Reply #79 on: November 05, 2016, 10:53:46 AM »
ISIS is pretty short on cash right now. I'm sure they would appreciate a 100m donation.

There's been an awful lot of very expensive ordnance donated to them on a regular basis for some time now . . .

sparkytheop

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Re: Do you have a lottery fantasy? Post it here...
« Reply #80 on: November 05, 2016, 04:39:03 PM »
I think I've bought lottery tickets twice, so it really is all fantasy...

I don't care who knows I've won, I'm good at saying "no". 

I'd take the lump-sum, I'd rather invest what I want and let that money compound.

I'd gift a set amount to family and the few friends who stood by me during a hard time (so, three non-family people, the rest can suck it).  May have to spread it out to avoid gift-taxes, but I'd figure it out.

I have four "charities" I currently donate to.  One children's hospital (saved my son's life), one related to the children's hospital (saved my sanity when fearing I'd lose my son), the theater department at the local high school (changed my son's life!), and another theater related organization we both enjoy.  Charities would remain the same, though donated amounts would go up.  I also donate to an animal shelter on occasion, so I'd do that more frequently.

I would buy a chateau in southern France.  It's beautiful and an easy train/plane ride to other countries for vacations.

I'd finally get a house built on my property.  Not a large one, but about 1k sq feet, with a basement.  The wood shop would get built as well (there is a slab, but the old building collapsed years ago).  Sell current house, so this would pretty much balance out expense-wise.

I'd quit work, giving my two week notice, but using vacation time for those two weeks (coworkers like the overtime when we have to cover a shift, so that would make them happy!)  Or, if they wanted, I'd give them even more OT by giving longer notice but still using all my vacation time (so two months + instead of two weeks). 

I'd put a tiny home or nice RV on my parent's property, so they could use it as a guest house when any of us come to visit, or just want to stay in town overnight instead of driving home (bad weather, tired, whatever).  I'd also get them a maid.  And me a maid when needed.

I'd get a camper or camper van and drive all over the states/Canada when I wasn't overseas or living in the woods.

I'd pay the costs of my parent's garden (water, seeds), so that they could enjoy the gardening without any financial expense. 

I'd buy the best quality quilting fabric and sock yarn I could, as well as get an awesome zoom lens.

Travis

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Re: Do you have a lottery fantasy? Post it here...
« Reply #81 on: November 06, 2016, 09:44:35 AM »
I'll bite....

A five bedroom house in Sacramento near the rest of my family large enough to host small gatherings, a yard big enough to play in and grow a number of fruits/vegetables, and solar/energy efficient it to the max without concern for the ROI.  Bedroom for us, our son, a guest room, an office, and a gym.  I'll be retired so I'll have the time to clean it.  A Tesla to go with the energy theme, but maybe an Aston Martin to play in. 

-Ensure my closest friends' kids can afford to go to the college of their choice.
-Buy houses for them (they're both struggling single parents living in crappy apartments).
-Fully furnish/equip my other friend's therapy business (it's a non-profit that works on hand-me-down equipment).
-Taking overseas vacations whenever it suits us.
-Generously fund a couple charities we're close to.
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WootWoot

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Re: Do you have a lottery fantasy? Post it here...
« Reply #82 on: November 06, 2016, 12:22:42 PM »
I forgot to add: While handing in my notice at my job, I would be sure to tell my boss exactly what I think of him. :)

Kitsunegari

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Re: Do you have a lottery fantasy? Post it here...
« Reply #83 on: November 06, 2016, 12:25:27 PM »
Never bought a ticket, so it's just fantasies, but let's see:

Up to 2m:
- Pay off our house
- sponsor SIL to Canada
- send kiddo(s) to Montessori schools
- send kiddo(s) to extracurricular activities (martial art, scouts, piano, choir and whatever they like)
- buy a parchel of land where to build a self-sustaining cottage to DH exact liking
- do the big-ticket renos we want to do to the house (bigger balcony, extra floor, solar panel system)

If I won more I'd go further:
- buy a beautiful, big house here in the city
- hire 2 live-in nanny, 1 English motherlanguage and 1 Greek motherlanguage, to have children fluent in both languages
- buy a house for my parents
- buy a duplex or triplex and make it a bed&breakfast to manage myself
- hire more house staff: a personal assistant, a regular cleaner, someone that comes to iron my laundry (I  love ironed stuff but I hate ironing)

« Last Edit: November 06, 2016, 03:40:00 PM by Kitsunegari »
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10dollarsatatime

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Re: Do you have a lottery fantasy? Post it here...
« Reply #84 on: November 06, 2016, 02:07:50 PM »
I was thinking this morning as I dyed my hair in the shower that I'd like to splurge on a once a month hairdresser when I hit independent wealth.  For myself and for my dogs.

I would pay off my current mortgage, and then either buy a turn of the century house on a couple of acres and completely fix it up, or hire an architect to design a turn of the century looking house for me, where I wouldn't have to worry about lead paint, old wiring, and not being up to earthquake standards.  Probably sell the current house once that was done.

I might buy a tesla.  But I'd keep my 2002 CRV for camping, fishing, and general shenanigans.

I'd give a lump sum to my parents and set up a trust for each of my brothers.  (Two of them are financial idiots.  One is learning disabled, and will need to be taken care of to an extent his whole life.  The other three are pretty ok.)

I'd either build a couple of tiny houses or buy a duplex as a place to stick brothers/relations when they need it.

I'd pay for college for all of my nieces and nephews.  Or a percentage...  I'm of the opinion that kids appreciate things more if they have to help pay for them.  Which would sound hypocritical coming from a lotto winner...

And then I would give money to whomever and whatever I chose.  I would donate to my current place of employment, which is an under funded arts center.  I would send the kid who stole my dog to culinary school.  (It's a long story...)  I would pay for random people's groceries at the store, because that would amuse me.  I would fund random gofundmes that I don't find offensive. 

And finally, I would buy my own lighting console (the one I want is around $20,000) and continue to freelance design for people that I like.  Discounted rates for mom and pop groups would be a given.

However... I've never directly purchased a lottery ticket (though I did once participate in a lottery pool), and I'm unlikely to.  But I still keep up some hope for the publishers clearing house sweeps...
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M2 pilot

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Re: Do you have a lottery fantasy? Post it here...
« Reply #85 on: November 06, 2016, 05:44:55 PM »
I'd continue working until I was fired.  Shouldn't take long.

Taran Wanderer

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Re: Do you have a lottery fantasy? Post it here...
« Reply #86 on: November 06, 2016, 10:56:01 PM »
I would pay for random people's groceries at the store, because that would amuse me.

That would be fun. I saw a story recently about an anonymous person who had hidden $100 bills in random consumer goods all over the city. So, someone buys a box of cereal and finds $100 tucked under the lid. Or a paintbrush at the hardware store. Or whatever. Several winners had come forward for the story, and they were all pretty tickled to find the money.
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zolotiyeruki

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Re: Do you have a lottery fantasy? Post it here...
« Reply #87 on: November 07, 2016, 10:03:57 AM »
It's fun to dream, isn't it? :D

--Disappear for a few months, and keep my name out of the papers, to fend off the gold diggers
--Pay off debt
--Quit paying for life insurance :)
--Take the family to Disney World
--Get my pilot's license, and fly a whole bunch of different kinds of airplanes until I find the one(s) I want to keep
--Move to a low-tax state
--Build a dream house (and do a bunch of the work myself)

I heard an interesting observation a while back about people coming into money--it doesn't change who they are, it just enables it.  So if they're already a generous person, a windfall will let them donate more to their favorite causes.  If they're a spendthrift, they'll blow it on worthless stuff.

When I look at the things DW and I want to have, it's all relatively small potatoes, compared to a lotto jackpot.  I want a new computer.  We'd like to finish our basement.  I'd like to plant some more fruit trees.  A few windows need replacing. DW would like an memory foam floor mat next to the kitchen island.  I'm not sure what we'd do with the remaining $199 million.  Donate to our alma mater, perhaps?

Mr.BondsBeard

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Re: Do you have a lottery fantasy? Post it here...
« Reply #88 on: November 08, 2016, 10:37:30 AM »
1. Pay off the student loans of my partner and I.
2. Pay off mortgage of parents and in-laws and pay for any work they need done on the house.
3. Buy a house that can comfortably accommodate long term visitors (being too large for what we really need).
4. Invest until $1 million can be withdrawn each year.
5. Lots and lots of charities.
6. Spend the majority of the yearly withdrawal on family, friends and charity.


faithless

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Re: Do you have a lottery fantasy? Post it here...
« Reply #89 on: November 08, 2016, 11:07:41 AM »
I would send the kid who stole my dog to culinary school.  (It's a long story...)

This sounds an interesting tale...?

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Re: Do you have a lottery fantasy? Post it here...
« Reply #90 on: November 08, 2016, 11:13:27 AM »
I would send the kid who stole my dog to culinary school.  (It's a long story...)

This sounds an interesting tale...?

Share, please. Was the child's preparation of the dog less than professional?
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eljefe-speaks

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Re: Do you have a lottery fantasy? Post it here...
« Reply #91 on: November 08, 2016, 11:57:47 AM »
I had a psych prof who brought enough $1 lottery tickets to class so everyone got one. We each were holding a ticket in our hands and he told us the odds of winning, in very clear terms. Then he told us to tear them up. Knowing full well that the real value of these tickets was nothing, and statistically speaking they were garbage, it was still pretty  much impossible to physically tear them up. That's the psychology of hope, of having something you have invested your dreams in. That's why poor people buy lottery tickets, and I will never judge them for it.

Fantastic, and very thought-provoking. Thank your for sharing that.

mamagoose

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Re: Do you have a lottery fantasy? Post it here...
« Reply #92 on: November 08, 2016, 12:31:15 PM »
Build our dream net-zero home, with guest quarters for family visits.

Buy a home for my mom, and set up an annuity to pay the maintenance costs for her. Pay for her to take a vacation to Hawaii with all her kids and grandkids.

Pay off my sisters' student loans.

Buy an RV and trick it out.
The person who says it cannot be done should not interrupt the person doing it.

Nederstash

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Re: Do you have a lottery fantasy? Post it here...
« Reply #93 on: November 08, 2016, 02:44:11 PM »
I would send the kid who stole my dog to culinary school.  (It's a long story...)

This sounds an interesting tale...?

Share, please. Was the child's preparation of the dog less than professional?

*Gordon Ramsay screaming at a teary-eyed boy* This dog is so raw it's still chasing postmen!

TheGrimSqueaker

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Re: Do you have a lottery fantasy? Post it here...
« Reply #94 on: November 08, 2016, 03:21:10 PM »
I would send the kid who stole my dog to culinary school.  (It's a long story...)

This sounds an interesting tale...?

Share, please. Was the child's preparation of the dog less than professional?

*Gordon Ramsay screaming at a teary-eyed boy* This dog is so raw it's still chasing postmen!

As the new puppy said a few weeks ago: YO NO QUIERO TACO BELL!!!!!!!
I squeak softly, but carry a big schtick.

MgoSam

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Re: Do you have a lottery fantasy? Post it here...
« Reply #95 on: November 08, 2016, 03:33:33 PM »
I would send the kid who stole my dog to culinary school.  (It's a long story...)

This sounds an interesting tale...?

Share, please. Was the child's preparation of the dog less than professional?

*Gordon Ramsay screaming at a teary-eyed boy* This dog is so raw it's still chasing postmen!

As the new puppy said a few weeks ago: YO NO QUIERO TACO BELL!!!!!!!

My high school Spanish teacher absolutely loved that slogan. In the past querer was the hardest verb to teach conjugation for, but due to the ad it became one of the easiest for her student to grasp.

gimp

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Re: Do you have a lottery fantasy? Post it here...
« Reply #96 on: November 08, 2016, 06:16:25 PM »
I had a psych prof who brought enough $1 lottery tickets to class so everyone got one. We each were holding a ticket in our hands and he told us the odds of winning, in very clear terms. Then he told us to tear them up. Knowing full well that the real value of these tickets was nothing, and statistically speaking they were garbage, it was still pretty  much impossible to physically tear them up. That's the psychology of hope, of having something you have invested your dreams in. That's why poor people buy lottery tickets, and I will never judge them for it.

Fantastic, and very thought-provoking. Thank your for sharing that.

Can we do a double-blind experiment, where half of the people get $1 bills, and half get $1 lottery tickets with jackpots of a million?

justchristine

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Re: Do you have a lottery fantasy? Post it here...
« Reply #97 on: November 09, 2016, 11:28:24 AM »
Between a management turnover at work and the election, I'm feeling unsettled about my current reality so I'll live a little in my fantasy land.  I need a big pick me up today so we'll assume for this fantasy that I won an absurdly large lottery...lets say $100 million just for giggles.

1.  Buy my parents a home that's more elderly friendly.  No steps, wider doorways for walkers/wheelchairs, big accessible bathroom, etc
2.  Give the relatives on my dad's side a nice sum, maybe 500k-1mil per family unit
3.  Buy my boyfriend a Tesla
4.  Build the net zero home that I've dreamed of on a nice wooded or lake lot up north
5.  Build a cozy workshop and outfit it with all the pretty woodworking tools I can think of
6.  Fill one of the rooms in the above mentioned house with shelves/bins full of yarn and a full range of knitting machines
7.  Setup a charitable foundation to give away most of the winnings and give me something to do when I'm not knitting or making furniture

Metric Mouse

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Re: Do you have a lottery fantasy? Post it here...
« Reply #98 on: November 10, 2016, 01:36:36 AM »
Just posting to follow.
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sleepyguy

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Re: Do you have a lottery fantasy? Post it here...
« Reply #99 on: November 12, 2016, 07:15:49 AM »
These days I play probably about maybe 1-2x per yr... maybe $5-10 each outing.

Probably anything under $500k my life would probably pretty exactly the same.

Let's talk big winnings now :)  I think the minimum for our major lotteries in Canada is about $4Mil not exactly sure so we'll start at that.

$4Mil winning,
- $50k to each of our siblings, making note they will not get a cent more = $400k
- $250k to each our parents, making note they will not get a cent more = $1Mil
- $2.5Mil into index couch potatoe style funds, balanced allocation
- $100k to "upgrade" our lifestyle a bit.  Maybe a new "used" car... a vacation here or there (not big on travel), unsure we would even be able to spend it all, lol.

We are pretty fine with our current lifestyle, lol.

I actually had a conversation with my GF about this and we both agreed nothing would change except  our FIRE would move up 5-7yrs (we both don't despise work, so not a huge deal imho).
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