What would you do if you won the lottery?
Last night I became quickly enchanted with a special series on TLC, Lottery Changed My Life. I'm already a junkie for Flip That House and various other home improvement shows (buying and selling a home creates this obsession. Too bad my brain hasn't caught up on the fact that we are no longer selling OR buying a home. But I digress). And last night, it just so happens as I was fixing dinner, Flip That House was on and was followed by this Lottery show. The show centered on what happens AFTER you win the lottery.
It interviewed all these people that (obviously) won the lottery and what they did with the cash. Interviewed were about 4 or 5 winners... age range from 21 to 65 or so. And what did I learn? Some people spend like mad and some don't. Which leads to our dinner conversation last night-- if you won the lottery, what would you spend the money on?
My husband was all about getting a fun 1970s vintage Ford Mustang for driving in the summer and maybe a BMX or Audi for everyday driving. I was all for just getting a bigger vehicle to card the kids and dog around (Mazda CX-9). But after that, we had the same vision. Likely live in the same house and do all the 100s of improvements we've envisioned here. And then we'd invest in additional real estate--but not new.
We'd look into finding a home on Lake Michigan here. Likely an older home that needs a lot of work--of which we'd have the cash to fix it up the way we'd like. And then we'd turn to a downtown brick commercial building. Or an old theater (there are a couple in town here). The plan would be the same, restore, rebuild, and likely make a loft up top of that building for our residence (we are fascinated with lofts). Would we sell some of this property? Maybe. And we'd likely rent. We'd mainly just enjoy creating spaces we love (which we do in every home we've lived in).
Which then brought on another little dilemma... with all this money, well, how would we keep our family at bay. Because as we know, once the world finds out you have money, they suddenly have a need for something. Or likely will try to become your new best friend. Not that we wouldn't share--it was decided we would give each CLOSE family member (as in immediate family members) a gift. That gift would be what they need most. That might be paying off a mortgage, buying a car, or a modest home, etc. This discussion then led to another one--what if you won the lottery and decided to stay anonymous. Meaning, live life pretty much as you do now.
This solution to winning the lottery was not only appealing--it was a fascinating subject. No one would know you had money. Lots of money. Would you keep your job? Both the husband and I agreed. No, we'd quit. But how would we explain a car purchase? Or say the purchase of a home near the lake to fix up. How could we afford that? We'd need a cover story. Mine was easy--freelance writer. I do some of that now. And technical manuals are an easy one to claim as my own, since, well, no one reads them. The husband's cover? Freelance web and graphic design. His own business (something he as always wanted to do anyway--and would with lottery money, so this was no stretch. And not such a cover story after he created the company would it?). Now it would appear that we were earning income (aside from a hidden lottery).
Sure people might talk that we are over-spending. Or wonder how successful we really are. But, it would at least curb our spending. We could keep a normal life, but still do some of the things we dreamed of (travel, fix up our home, live a comfortable life). And not spend too much of a good thing (and our kids would have college money and likely enough moolah to keep them comfortable for a while in life). In fact, this sounds so damn appealing--because honestly the publicity and headaches of family asking for money and comparing notes--we decided hell, it would be the way to go.
So, I have to go. It is time to go buy a lottery ticket.
It interviewed all these people that (obviously) won the lottery and what they did with the cash. Interviewed were about 4 or 5 winners... age range from 21 to 65 or so. And what did I learn? Some people spend like mad and some don't. Which leads to our dinner conversation last night-- if you won the lottery, what would you spend the money on?
My husband was all about getting a fun 1970s vintage Ford Mustang for driving in the summer and maybe a BMX or Audi for everyday driving. I was all for just getting a bigger vehicle to card the kids and dog around (Mazda CX-9). But after that, we had the same vision. Likely live in the same house and do all the 100s of improvements we've envisioned here. And then we'd invest in additional real estate--but not new.
We'd look into finding a home on Lake Michigan here. Likely an older home that needs a lot of work--of which we'd have the cash to fix it up the way we'd like. And then we'd turn to a downtown brick commercial building. Or an old theater (there are a couple in town here). The plan would be the same, restore, rebuild, and likely make a loft up top of that building for our residence (we are fascinated with lofts). Would we sell some of this property? Maybe. And we'd likely rent. We'd mainly just enjoy creating spaces we love (which we do in every home we've lived in).
Which then brought on another little dilemma... with all this money, well, how would we keep our family at bay. Because as we know, once the world finds out you have money, they suddenly have a need for something. Or likely will try to become your new best friend. Not that we wouldn't share--it was decided we would give each CLOSE family member (as in immediate family members) a gift. That gift would be what they need most. That might be paying off a mortgage, buying a car, or a modest home, etc. This discussion then led to another one--what if you won the lottery and decided to stay anonymous. Meaning, live life pretty much as you do now.
This solution to winning the lottery was not only appealing--it was a fascinating subject. No one would know you had money. Lots of money. Would you keep your job? Both the husband and I agreed. No, we'd quit. But how would we explain a car purchase? Or say the purchase of a home near the lake to fix up. How could we afford that? We'd need a cover story. Mine was easy--freelance writer. I do some of that now. And technical manuals are an easy one to claim as my own, since, well, no one reads them. The husband's cover? Freelance web and graphic design. His own business (something he as always wanted to do anyway--and would with lottery money, so this was no stretch. And not such a cover story after he created the company would it?). Now it would appear that we were earning income (aside from a hidden lottery).
Sure people might talk that we are over-spending. Or wonder how successful we really are. But, it would at least curb our spending. We could keep a normal life, but still do some of the things we dreamed of (travel, fix up our home, live a comfortable life). And not spend too much of a good thing (and our kids would have college money and likely enough moolah to keep them comfortable for a while in life). In fact, this sounds so damn appealing--because honestly the publicity and headaches of family asking for money and comparing notes--we decided hell, it would be the way to go.
So, I have to go. It is time to go buy a lottery ticket.
