Friday, May 24, 2013

If I Won The Lottery…

This is actually a question I have debated about a lot, In fact Kensei and I were talking about it just last week when the powerball was at 600 million…. We didn’t win just so you know, but I still buy at least one ticket a week because if you don’t play you can’t win.

First it depends on how much I win what I would do. Let’s see current Jackpot is 50 million.

so I would take that and I divide it in half for taxes because well they will kill you in the taxes, so now I have 25 million and then I split that in half which leaves me with 12.5 million.

I put the first half into a savings account of some kind, several CDs, IRA and/or a 401K.

Then I take 1 million and pay off EVERY person I owe money too, student loans, old debt, everything. If It’s on my credit or I owe them money they will be paid off completely.

Then with whatever is left over from that million I will put it away in a bank account to spend on school.

Then I want to take 2 million and buy some land and completely build a new house from scratch…Kensei and I have discussed this plan in detail, because of his schooling in architecture he will draw up the plans, but my main requirements, a Library, ( a sliding panel in the library) a state of the art kitchen, and an indoor or outdoor swimming pool.

so now I’m down to 9 million, 1 million will go to Kensei’s education so he can finish school, 1 million to be split between friends and family

1 million for new cars, for both Kensei and myself. 

and 1 million for each of us to spend on whatever we want!

and 1 million on our wedding, and honeymoon!

the rest goes into savings accounts to be used for bills, etc. later on!


becca said...

if i won i would pay of my home and all my bills like doctor and such then put some away for little man's future

Nicole said...

Great plan! The husband and I would do the debt thing, build the house thing, & take care of our families :)

I like what you said If you don't play you can't win! We played some scratchers today and LOST haha Oh well there is always next time.

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