People And Lottery Money Plans
Financial Management General Thoughts and Fun Topics

People And Lottery Money Plans

Yesterday there was a lottery jackpot here for about $37 million. As usual, I got to see people who immediately began to buy tickets in hopes to win. Some people were then debating with each other on what they would do with the money if they won. For example, some say that they would splurge it within reason and save the rest while another group said that they will spend some and give the rest to a charity.

Then an interesting comment was made on how while everyone says that now, chances are you will become a completely different person if you actually won and will probably do something different. An example was that one person has a friend that said if she won the lottery she would give some away to her friends. She actually did win, but did not end up giving her friends anything. Of course, some people said no way as they will always be the same person.

I was then asked what I would do if I won that much money. I always like to help people and so I personally have the mindset of if there is some kind of good cause to help and I have ample resources to do so, I would want to try and build/establish something that will then provide a continuous stream of resources/income for it as oppose to say a one time happening.

Would I personally think that amount of money would change me to the point where I wouldn’t do that? I can confidently say no as regardless if I fortunately won or earned my way to that type of situation that is a goal in life that I have anyways. In my opinion, life must be pretty boring if one just sat there by themselves with their wealth.

1 Comment

  • Stewart Marshall 11/12/2007

    It’s interesting to note that if one was to win the lottery one could immediately do practically everything you wanted – buy houses, give money to people, race cars etc. The difficult bit is deciding what to do AFTER you’ve done everything you said you’d do if you won the lottery.

    In the UK I believe they provide counseling and advise for winners. Personally I think I’d look to hire a reputable accountant and lawyer, possibly a driver and then head off somewhere warm to think about it!

Leave a Reply

Your email address will not be published. Required fields are marked *