What would you do if you won the Lotto?

[talman]

Hi Everyone, I am new here. I am from Melbourne, Australia and stumbled upon this forum while researching lotto strategies.

I have heard stories of people becoming hermits and/or people blowing all the lotto winning within a few years. I think too many people are blinded by the riches that they don't use it as an opportunity to do what they alway wanted.

If I won the Lotto, of course depending how much, I would indulge a little with a party, maybe a new car. I would help pay off some debts in the family. Buy some investments so that even if everything else is gone I will have an income to live off. I would love to make a tech research startup company, something Google like and make working fun. I would also start a fund or foundation to support some local community charity work. Just some thoughts.

What would you do if you won the Lotto?

 

[wazzappenning]

put it away

invest it all(and gain 8%average interest),thats what my stepfather makes on his investments.then live off the interest and try to spend less than it makes. after a while of not doing anything,mabey go back to work for a while and make 2 paycheques for those years(since im not touching the interest anymore) when im able to live comfortably off the interest mabey set up some charity stuff. but the biggest thing is to never touch the initial capital that way you can pass the fortune down the familly tree,of course with the condition that no one can ever blow the initial capital, and the amount should grow so that no matter how big the familly tree gets everyone will always live comfortably. also on a side note i wouldnt give anybody money before they were 25 or something and had to work to get through life and see what the world (and money)is all about. dont wanna be responsible for any spoiled brats that dont give a second thought to the value of money or where it comes from.

 

[blitzed]

hey talman, if I won, I'd buy an island in Southeast Asia for approximately $200k...then I'd straight-up, flat-out defect from the USA.

I'd have absolutely no problem leaving plastic wrapped society behind...living in a region where people are down to earth, and genuinely happy even though they have very little.

Yup, somewhere there has to be a place away from stupid politics, and the wars of silly christians & knuckle-headed muslims

I don't want to be hated simply because I'm an American...hey, I want to get the hell out of here, just can't afford to heh!


blitzed

 

[talman]

... i wouldnt give anybody money before they were 25 or something and had to work to get through life and see what the world (and money)is all about. dont wanna be responsible for any spoiled brats ...

Hehe, I agree you don't want to spoil brats, but I think that are not limited to people under 25. I think it might be more worthwhile giving them interest free loans and make them think about how they spend it and it will encourage them to invest it.

 

[talman]

hey talman, if I won, I'd buy an island in Southeast Asia for approximately $200k...then I'd straight-up, flat-out defect from the USA.

There seems to be a lot idiots in positions of power encouraging violence on all sides, but I will try to avoid politics.

There are however a few luxuries like running water, electricity, internet, that I have grow accustom to, I'm not sure if I would enjoy living on an island. Although, spending all day lying on the beach does sound a nice way to spend my days.

 

[lottomaniac649]

Hello talman;
It's a great idea to plan a huge sum of your Jackpot money you dream before you hit. I've got a predetermined plan to spend the money like this:
0. 40% to my local Government! (yes. it's a mandatory TAX)
1. in the rest 60%,
10% to the Almighty/Temple Charities
2.10% to the charities of Aged/orphanage
3.10% to my Mom
4.10% to my Wife
5.10% to my Daughter
6.10% to my dream HOUSE
7.10% to my Brothers & Sisters
8.10% to my friends & relatives
9.10% to my personal savings
10.10% to my lottery research project & reinvest in Lotto Games.

Thank you talman! for making out my plan open!

Is not a good plan!?
LM649

 

[blitzed]

wazzappenning, yup some people have not had to work a single day in their lives...plenty of trustfund babies doin nothin but partying 24/7, gettin drunk & snortin or shootin that inheritance.

Much of the time I see Paris Hilton-like trash...girls or rich housewives in fancy cars, grindin the gears, yappin chihuahua on their lap, blastin through intersection on red light while applyin makeup tsk!

If I win the lottery, I escape to somewhere without all these idiots.

later,
blitzed

 

[blitzed]

talman, I could give up internet...only reason I use it now is because I'm stuck here in the human zoo, needing somethin to do. I could get by without electricity, or just go solar/hydro if I got tired of candles, and dynamo crank light/radio.

I'd need electricity & internet is if I decided to open a youth hostel, or had vacation cottages. That'd be a good way to retire, and keep from gettin bored. Besides, it'd be jobs for local community.

later,
blitzed

 

[wazzappenning]

hey blitzed

parris hilton is a very good example. could you imagine someone down the line in your familly becoming like that and you being partly to blame because you never made them see what real life is all about? thats exactly what i would want to avoid. as for the deserted island.. i might settle for mexico or something. you re still in society and its dirt cheap. i dont remember too much about politics when i was there a couple of years ago, but i was only there for 2 weeks and in puerto vallarta (doubt a tourist town wants to scare off tourists with squabbles over politics)

 

[blitzed]

wazzappenning, yup Mexico can be good, in the small seaside towns anyway. I know a guy who has a sailboat, he is an importer of goods from asia & south america...he lives down at the tip of baja now...so somethin like that is always an option

anyway, I wouldn't necessarily get a deserted island...read about some with just a 20min sail to the mainland, to hospital, wet market, bar, internet cafe, etc. that'd work

later,
blitzed

 

[wazzappenning]

blitzed+deserted island

when i read your idea of buying an island it made me think of what i heard a couple years back. canada was thinking of buying some tropical island.it would make a lot of sense since you wouldn t need a passport or even cross a border to go on vacation. the only problem i can see is that at least half of the coutry would try to go live there. (dont know our population by heart but its about 10 times less than us) . why not everybody?...some canadians are on crack or something because they like the winter cold????

 

[wazzappenning]

tax on prizes???

lottomaniac 40% seems like a lot i think blitzed only has to pay 30%. anyway the point is that in canada you dont pay tax on winnings from lotto or casino, you dont even pay tax when buying it(as in most places) a 1$ ticket costs 1$. not plus tax. my understanding was that the reason for this was that you CAN NOT claim losses on your taxes for having paid money into trying. so why are you guys paying tax on winnings but not able to claim expenses on your income tax? seems like the way it should work.

 

[blitzed]

Yup, sounds cool, annex tropical territories...aha! claim one of those lava islands that pop up over night

Years ago I read about artifical islands...not exactly what I had in mind, but looks pretty cool...one in Dubai, UAE...just looked it up and noticed they've built a hell of a lot more...even a group of islands shaped like the continents. I guess ifya a rich Arab, you can build whatever the hellya want hah!.

http://www.nakheel.com/Developments/Map_View/

 

[blitzed]

no tax on lottery play here, just on wins $600+

sweeeet that Canada doesn't steal lottery or casino winnings. Here in the US, Unkle Skam tries to get his paws in on any action.

Funny how crooks are sometimes busted...their initial crime & punishment isn't so bad...but when Unkle Skam sees tax evasion, they're doomed! Yup, pimpin, hookin, dealin drugs...I laugh seein tax evasion charges thrown at them, does that mean that Unkle Skam wants his cut as senior pimp?!?

later,
blitzed

 

[wazzappenning]

blitzed

cool those islands.
and yup unckle skam want in on those illegal activities.
they talk about the war on drugs but i saw a program once that said that if there was no drug trade in the us, the economy would go bust ...not sure of the specifics or why. but you gotta think, that crack dealer couldn t afford a hummer if he didn t sell crack??

 

[blitzed]

yup! also heard that a very high percentage of money has traces of drugs.

later,
blitzed

 

[Maggie]

yup! also heard that a very high percentage of money has traces of drugs.

later,
blitzed

Among other things....

 

[blitzed]

hiya Maggie, yup...money is nasty.

Ironic, I only have to touch money if I want to play lottery. Otherwise, anything I buy, just put it on plastic. Might as well, dirty paper money doesn't mean much anyway, not like it is backed up by gold & silver, and the presidents on the bills are long dead and dishonored by modern politics & federal reserve nonsense.

catchya later,
blitzed

 

[Teufellj]

Howdy,
you asked about ...winning a lottery...I never believed in the "pie in the sky" type thing. However, if a win did occur, a portion would go for all of my family; another part would go to St. Jude's Research Centre and if there is a couple bucks left over...a six pack for me. I live simple and don't ask for much but I do like my beer and an occasional brandy.

Teufellj...

 

[blitzed]

yup, I'll most definately spread the karma around too.

besides, I could happily live on a deserted island...I'd be perfectly fine just growin food, buildin shelter, catchin fish.

to me money would just be a means to escape money, then I owuldn't have a need for it hah!

yup teufellj, beer is good, but I'm sure I could improvise by fermenting somethin nice from coconut milk! or perhaps barter with natives somewhere heh!

later,
blitzed