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Question of the day - Monday, September 28, 2009

post #1 of 15
Thread Starter 
Good Morning Folks - Sorry it's a bit late!

The question today is about the Lotto!

Do you play? Set numbers or quick pick? If you won, what is the first thing you would do? Who is the first person you would call? Keep or share the $$$

I play sometimes, and sometimes I daydream and daydream about it I play a list of Birthdays of loved ones- I have the list with me, and just give it to the cashier from time to time.
Oh God - if I won, I would pack my bags immediately, and would be out of the country on the next day. Not on the next plane as the kitties would need to get docs for international travel, of course... After I did that, I would take care of all the. legalities, etc.
My dad would be the first call.
I think 75% of the $$ would be mine, 25% would be my brother's and sisters...

What about you?

ETA: Guys - just to explain -I am not running from the law just want to visit with my family in Brasil!!! My dream is to buy sail boat and just go around the world... In style though with my kitties, my laptop, a chef...... hummm..... good times!
post #2 of 15
Call my family and pay off bills I guess.
post #3 of 15
...Lol Susan!

Ocassionally Buy some tikects to play lotto here I mean are to scratch and see if you won something......Not always do it...
post #4 of 15
I pick up a ticket from time to time -- not with any regularity -- quick picks. If I won, I'd pay off my debts, retire and think about the rest after that. There would be some sharing, and some donations, but what else and what proportions, I haven't allowed myself to think much about.
post #5 of 15
I never play because it takes too much trouble to go buy it, I only do self check out at grocery stores and pay at the pump so in order to play the lottery i have to do an extra step in my daily routine since I have physically pay to a cashier.
I mean I don't believe I'll ever win anyway, given the chances- why even bother? It always puzzles me how some of my family members get excited and check the drawings, I'm like omg you are wasting your excitement and energy...
If I won, in a perfect world I'd start a small business while still staying in school, something like an online store but it's a hypothetical answer since I dont' play.
post #6 of 15
No I don't play.

The FIRST thing I would do with the money is pay off bills, of course; but the first thing I'd really do is buy hubby a pick-up truck then start looking for a house (I guess it would depend on how much we won).

I would first call hubby's parents, then probably mine. I don't think I would call & tell ALLOT of people, probably just let the word get out on it's own so I don't feel like I'm bragging to anyone.

I would both keep & share the money. I wouldn't specifically GIVE anyone in either of our family and money because they don't need it. I would however be more generous with our good friends and close family. Right now they understand money is tight and don't mind our creative Christmas presents .

I'd buy a huge farm, with lots of stalls for my horses, pristine paddocks with white-cedar fencing. A huge old farm house, with a big country kitchen, wood stove, it would be very environmentally friendly. I'd have a big out-door enclosure for our indoor cats, take in lots of neighbourhood strays... we'd have a giant pack of dogs too I'm sure... wait that's our life plan... guess winning the lottery would just speed all that up .
post #7 of 15
I occasionally buy them. If I won, the very first thing I would do is contact a financial adviser, probably the one my best friend uses as I would know I could trust him.

#2: I would get an unlisted phone number.
#3: Pick up my winnings.
#4: Give each family member on both sides (8 families) $10,000 each (maybe more, depending on amount won).
#5: Have a small bungalow built to my specs, have a heated/air conditioned workshop for hubby built and move to that undisclosed location.
#6: Do all the things I want to do but haven't been able to because of needing to work, like volunteer to work with animals, help the elderly get out to do their shopping/banking/doctor appointments, etc.
post #8 of 15
Honestly, I don't think I've ever bought a lottery ticket in my life. Like ut0pia, it's a matter of convenience for me. I usually only go by a convenient store to get gas once a week and I'd have to physically walk inside to buy one (rather than paying at the pump), so I don't ever do it. I could see doing it every once in a while just for fun though, if I wasn't so lazy.

If I did actually win, my first call would probably be to an accountant/tax lawyer. I'd want to discuss the best format to take the money in (lump sum or payments) and how to go about protecting the money (e.g., you can't just throw $10 M in a checking account).

I honestly can't think of any relatives who need money. I imagine I'd have some distant cousins crawling out of the woodwork with sob stories, but as far as people I'm close with, nobody is in dire straits. I might want to pay off the notes on a few of my dad's rental properties, but it's not something he needs, just something that would help out a bit.

As for me, the one thing I would definitely buy would be a house closer to my job. I'd probably also buy a newer car as well and give my old one to my friend who doesn't have one. I might take about 6 months off and go see the world. I'd like to see every continent, and I still have 4 to go. After that, I think I would go back to work. I'd want to set up a 'salary' for myself every year from the earnings. That would be enough money for me to live off of and pay all of my necessities every year, including house, car, gas, insurance, utilities, etc. Then my regular salary would go towards fun things like vacations to see the world. The rest of the money (above and beyond my salaries) would get donated to charity.

I did hear one good piece of advice about playing the lottery from my stats teacher. He said when you play you should always use the quick picks (i.e., random numbers). If you pick your own numbers every week and then the one week you forget to play those numbers come up, you'll never forgive yourself. If you choose randomly every time, you'll never know that you 'would have won'.
post #9 of 15
Once in a blue moon I'll get a scratcher or do a quick pick but that's it. In fact, I don't even remember the last time I bought one .

If I won, I would do what Grogs would do - seek the advice of a tax lawyer to see if I'm better off getting all one lump sum or the installments. My student loans, auto loan would be paid off. I'd take DBF and I on several vacations, buy a house w/some land, donate to some charities and keep the rest in a nest egg so I can retire early.
post #10 of 15
I have never played the lotto. In college I used to pay scratch offs every once in a blue moon and my mom will occassionally give my sister and I scratch-offs for Xmas, but the actual pick-a-number ones, never. I dislike gambling: I get angry when I lose money so I don't even go there

If I did play and won, i would first call my mom. I would have a house built, pay off my bills, buy a car, travel, all the usual stuff I would share of course. i would probably pay off my parents' and aunt and uncles house, and some of my parents' other stuff. I'm sure i would give my sister something, but I don't know if it would be cash cause she'd blow it. I'd probably pay off her bills too. of course this would depend on how much i won
post #11 of 15
I so want to win the lotto. I need to buy tickets don't I, that is just logical if I want to win
I would want to pick it up in another name if possible and would secure legal advice right away. There are some people (friends, family) I would like to help out, two rescues, and a club of volunteers. Travel is also high on the list. Being able to actually write a book instead of having to work and worry about money all the time would be just the best.
Oh to dream
post #12 of 15
I've bought maybe 2-3 lotto tickets before and had a few as gifts.

I buy scratches VERY often. Maybe once or twice a week.
post #13 of 15
I have a subscription ticket. You send a check and they play the same numbers for a year or half a year if that's what you picked.

Mine is a quick pick. I had no idea what I wanted so I let them decide.

If I won I would probably call my Mother first.

I would definitely share the money if it was a large enough amount. I wouldn't give it all away but I would help some of my relatives with bills and expenses.
post #14 of 15
Every once in awhile I get a quick-pick, sometimes a scratch-off.

If I won big, the first person I'd call would be my dear friend Kathy, who is a CPA, and very, very knowledgeable about money.

I'm pretty sure I'd give some to my church, give some to cancer research, Alzheimer's research, AIDS research.

And I'd buy a vehicle that's not gas-guzzling and take Larry and travel around this beautiful country of ours, seeing all the National Parks I haven't seen. (I'm watching Ken Burns' The National Parks on PBS, and would just love to travel around visiting them.)
post #15 of 15
I don't play the Lotto. Historically, I've always been unlucky at love and unlucky at cards....I really don't anticipate my luck being any better for Lotto!!
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