This is the question I am pondering today. Truth is, I have no idea what I would do if I won the lottery. I know things in my life would change drastically and hopefully for the better. I do admit I would love to know what life is like when one does not have to worry about money!
With the Powerball being at an estimated $550,000,000 with a cash payout of $360,000,000, I am baffled at that amount of money. When we figured the cash payout today at work with sticking the money somewhere that make you interest, at 2% interest, you would make $7,000,000 at year. Wrap your mind around that.
With that amount of money that could potentially land in your lap, some questions beg answers. Or at least pondering:
1. Would you continue to work?
2. Who and what would you pay off first?
3. Would you pay off your family's (parents, siblings, grandparents) debts?
4. Would you help out your friends with their debts?
5. Would you give your money away and to whom?
6. Would you continue your frugal ways?
7. Would you tell anyone that you had the money?
8. Would you tell your kids?
9. Would you move? To where?
10. What would you buy?
I don't know if I can even answer these questions. Most of these are out of my realm of thinking, but I will attempt it.
1. I don't know. I have been working steadily for the last 20 years. It is a constant in my life. To not work would make me feel lazy. So if I didn't work, I would have to create more work at home. However I do agree with a friend on this one: to have that kind of money and still work in my current position would not be the best. Another person could use this job, the money, and the benefits from it. To continue working like this would be selfish when another could use this job.
2. My student loans and any other small debts I had lying around. Hands down though, my student loans would be first.
3. Yes I would. My parents, my grandparents, and my brother (and his family) would be debt-free. Rob would also be debt-free. Several other family members would be helped out in one way or another.
4. Depends. I do believe one can not help everyone and that everyone should be able to take care of themselves. This would really depend on the situation.
5. I would definitely become a philanthropist. I would be giving it away to causes I believe in.
6. Yes, because I hate to waste money and I don't think that would change with the amount of money I have. Something I have learned from well-off people is that they do not spend more than they have to on anything. They reuse things and they plan ahead. Great advice.
7. Not if I didn't have to. I really don't want to become a target of those that are always looking for money or a handout. I would want to live anonymously.
8. I don't know. I don't want spoiled kids. I don't want them to think that because we have that kind of money that we can go out and spend like crazy or frivolously. I don't know if I would tell them the extent of what we have if we did.
9. No, I don't want to move. I would want to buy the place I live on now and the farmland if possible. If I did have to move, I would buy another acreage. I don't want to live in town.
10. A new vehicle (nothing fancy though). Pay for the kids' college educations. My house and acreage. Reinvest by buying farmland. Repairs to the current house. Fix up old farmhouses and resell. Homestead to my heart's content. I am a pretty simple person!
Now that you have had a trip into my fantasy world, what would you do? Sometimes dreaming is nice...
Thanks for reading! Have a great day!