Million Dollar Question

[2BNTV]

Someone where I work hit the lottery for a million bucks. This person was young,(possibly in her thirties).

Almost all of us have our work careers behind us. I was wondering what retirement type people would do with a million bucks.

What would you do?

[Bill-n-Brillo]

Invest it in somewhat secure things in the market - low risk. That's just us, though.

Check back with that person in about 5 years to see how they're doing. Good chance that they won't be too happy.............that's just how it seems to work with a lot of people who suddenly come into money.

Bill

[redwitch]

Invest some of it; get my daughter on her feet; give a good portion to causes I believe in.

[BowleesCreekYachtClub]

If you want a million I think most lotteries - like the Florida Lotto - pay it out over 20 years. Basically $50k per year if you win a million. If you take it as a lump sum you get considerably less than a million and then have to pay tax on it at the maximum rate. I'd take the $50k/year for 20 years but it seems that many take the lump sum and I think these are the people who have problems - just my opinion.

[njbchbum]

i'd invest some, do what i felt necessary for my family, and then fund an endowment for a charitable organization with a mission to 1]teach the art of writing winning grant proposals, and 2]to write proposals that would insure an arts curriculum [all modes] in schools of all levels.

am starting to develop a fund raiser now for a catholic school in cinnaminson, nj...it is to be a takeoff on some sort of cooking show and will be titled 'who put the cinnamon in cinnaminson?'...cute, huh? funds raised will support the purchase of art supplies and art demonstrations/performances in the school.

[chuckinca]

Put it on Red!


.

[Talk Host]

Put it on Red!


.

:coolsmiley:

[superuke]

I once asked a farmer the same question. Sam , what would you do if you won a million dollars? Farmer replied: I would keep farming until it is all gone!

[rblammon]

I would get me a brand new used car.

[Debbie0625]

Would be so great to be able to make sure everyone in the family was secure financially. That would be SO much fun!

[chuckinca]

Would be so great to be able to make sure everyone in the family was secure financially. That would be SO much fun!


Maybe that was John D's thinking?


.

[jblum8156]

and Gary M's thinking

[Tom Hannon]

A million dollars these days won't go too far. There are too many horror stories of the bad luck future winners come into. Sometimes coming into a great deal of cash can distort a persons mind. Everyone say "It wouldn't happen to me" but it happens to most of them. Although I know "It wouldn't happen to me."

[getdul981]

My reply has always been to apply it on my debts as far as it would go.

[graciegirl]

Invest it in somewhat secure things in the market - low risk. That's just us, though.

Check back with that person in about 5 years to see how they're doing. Good chance that they won't be too happy.............that's just how it seems to work with a lot of people who suddenly come into money.

Bill

What he said.

[taylor111947]

I'd still move to TV - it has everything I could want (well, OK, not a beach, but I figure if we have enough hurricanes it might be possible) - the important things in life can't be bought.

[BUC]

I'd buy a pre-owned home on the Historic section of the Villages, about 1000sf, less than a $100,000.00. I'd try to play golf a few times a year, join a club or two, maybe visit a time square every once in a while and saw free entertainment, or fish alittle. I want to be able to drive a golf cart for the majority my movement around town.

Oh never mind that's what I'll be doing in two years God willing!

[brostholder]

I'd go gambling in Monte Carlo, go out on dates with super models, buy a yacht, and the rest I'd spend foolishly!

[billethkid]

like they are today!!

btk

PS....after I bought my new 2011 Corvette ZR1, that is!!!

[duffysmom]

I would have to join the witness protection program. :girlneener:

[jebartle]

I'd give it all away(After taxes), and I mean it!

[Minnesotalyn]

We'd be on our way down to start building our home, and give our one son our home in Mn.,and the other one a town home.:024:

[diskman]

Someone where I work hit the lottery for a million bucks. This person was young,(possibly in her thirties).

Almost all of us have our work careers behind us. I was wondering what retirement type people would do with a million bucks.

What would you do?

Change my name, then move away during the night before my relatives read the paper:pepper2::beer3::spoken:

[LI SNOWBIRD]

Change my name, then move away during the night before my relatives read the paper:pepper2::beer3::spoken:

Thanks for saying what I was thinking...
:beer3: