Got a question for ya …

If you won the lottery tomorrow what would you do? Let’s assume it is the mega-buck-super-payout-lottery with a $230 Million prize. Assume that after taxes and the up front lump-sum pay-out you get $120 Million (I don’t know if that works out, just guessing). Quit work? Continue to work? No I didn’t win. But, I’ve given this a lot of thought. Kinda funny for someone who doesn’t play the lottery. But if I ever did play and I did win …

First things first. Lock up the ticket and not tell anyone. Call my lawyer. Ask him to establish a blind trust with specified payout dates and amounts. Have the executor of the trust claim the winnings and establish interest earning money market accounts and CDs (hey with $120 Mil 4 – 6% is a lot of interest) that are easily liquidated. First payment would be a tithe to my church on the lump sum payout and to pay off all my credit cards and other unsecured debts. 6 months later another payment to pay off wife’s car and to buy me a new car hopefully at 0% interest for 3 years (yes finance it … leave my money in the bank and use theirs to finance at 0%!). You’ve noticed I’ve not paid off the house .. or done anything special to the house yet. I’m trying to avoid the attention of the press, family and friends. Last thing I want is family, friends and unknowns knocking on my door asking for money. Besides, if I’m earning more than 5.25% in interest, why pay off the house? Use their money …

My next payment would be home improvement related. I will build a safe into my home as part of this payment (for storing the results of the next payment). So what are some home improvements? New windows, carpet and hardwood floors. New kitchen and an addition to the house – a “great room” with a loft and a workout area. The current family room would become a master bedroom. Update the exterior while I’m at it. The utility room would pretty much have to stay where it is, but laundry room will move. And fence in the yard so Shadow has freedom to run and play. You see, I love my house. I don’t want to sell it. I don’t want to move.

6 months later my next payment would go into buying a series of gold silver transactions. Anything more than $10K needs to be reported to the feds. I would buy about $200K in gold and $300K in silver in 51 different transactions with different brokers. And yes, I am a firm believer in taking possession of my gold and silver. So the gold and silver will be stored in the safe in my house.

Of course with my bills pretty much taken care of my salary becomes disposable income. I’d travel. Help out family. Of course I’d keep working. I have a house payment and utilities bills …

I’d probably buy new computers as well …

I don’t really think it would change me, it would just change the way I live. Of course I wouldn’t tell my wife or kids I won either … I’d just make it look like I’m a whiz at managing money. Last thing I want is family and friends standing there with their hands out expecting something … 🙂

So where is the lottery jackpot sitting at today?

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