Dreaming - Lottery Win - What would you do ?

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A lot of what I would do would be like I do now, but the bike would get shinier, the trips would be longer and the boat wouldn't need three days of work for one day sailing.

I would establish a trust for my kids so they would work for a living, but enjoy a much better standard of living and work at whatever they want.

I'm sure some of my relatives would squeak about not getting cashed out, they'll get over it.
 
I like all your dreams.
Here is mine:
Buy a piece of land in a warm climate region, hire the locals and run a farm.
 
kickstartt said:
I like all your dreams.
Here is mine:
Buy a piece of land in a warm climate region, hire the locals and run a farm.
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How'd you go broke uncle kickstart?, well I won a lottery ,moved south and bought a farm, then hired locals to run it.........
 
crankcall said:
How'd you go broke uncle kickstart?, well I won a lottery ,moved south and bought a farm, then hired locals to run it.........
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That's how you make a small fortune though right? Start with a large fortune and...
 
Well first off, if you win $50 million you are not getting $50 million, the government takes a chunk and if you decide to take a lump sum it is a lot less.

If I won I would probably sleep in.
 
wonderings said:
Well first off, if you win $50 million you are not getting $50 million, the government takes a chunk and if you decide to take a lump sum it is a lot less.

If I won I would probably sleep in.
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Not in Canada . Tax free , one lump sum



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wonderings said:
Well first off, if you win $50 million you are not getting $50 million, the government takes a chunk and if you decide to take a lump sum it is a lot less.

If I won I would probably sleep in.
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are you sure about that? i thought that only applied to 'cash for life' type of lotteries.
 
No tax on windfall/lottery winnings and Canadian lotteries like 6/49 are paid in one lump sum.

Dare to dream.
 
kickstartt said:
I like all your dreams.
Here is mine:
Buy a piece of land in a warm climate region, hire the locals and run a farm.
Click to expand...
A coworker of mine has that as an 8 year plan. Already has 2 properties in the Philippines.

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wonderings said:
Well first off, if you win $50 million you are not getting $50 million, the government takes a chunk and if you decide to take a lump sum it is a lot less.

If I won I would probably sleep in.
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Incorrect

Len8827 said:
Not in Canada . Tax free , one lump sum
.


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Yes. And not always
Chaos said:
are you sure about that? i thought that only applied to 'cash for life' type of lotteries.
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Not the tax part.
Matt Rain said:
No tax on windfall/lottery winnings and Canadian lotteries like 6/49 are paid in one lump sum.

Dare to dream.
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Exactly.

But the "Cash For Life" is paid out over 25 years @ $50k / year. If you take the lump sum it's ~$672k.
Pretty sure I'm not making it another 25 years. I'd go lump sum.
Fyi- casino winnings are also not taxable.
I thought this stuff was common knowledge? Am I really the only lotto playing casino going gambling degenerate on this forum?

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Matt Rain said:
I was a semi-professional sports bettor for 3 years.

i.e. I mostly sucked at it.
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Damn.
Sports bettors are the degenerate's degenerate. ? Most successful pro gamblers give their winnings back that way. That being said, one big score....
I know less than nothing about sports, nor do I care. However I did hit MLS pools 2 weeks in a row. $838 & $178. I've since given most of it back to the olg. ?

$55 mil this week. Gonna collect $20/person from 8 other ppl at work, each pick 1 number and play a Max combo ticket for $180
Maybe Sat I will be posting what I AM doing with my share! (Really? No *fingers crossed* emoji??)

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Pay off all of my families debts and mortgages. Trust fund for college for all of
My families kids. With the rest buy a couple commercial rental properties... But of course I'd also buy a garage full of moto-toys.
 
Only one person here (inerb) said anything about donating some of the hypothetical money! Pretty sad if you ask me.

I always thought id donate a big portion of it. Who knows if id actually do it but i hope i would.

You win that much money, even if you donate half of it, youre still instantly $25mln richer than you were the day before. Not enough?

Greed has no limits indeed.

Again, dont mean to sound preachy since i didnt win it and i didnt donate it. But i would like to think some people would actually care about others as well as their own.

now what to do with my other $25mil :D I'd start with taking wingsuit jumping classes!
 
Okay, I'd donate $40 million to ashkan
 
I'd open up a one stop wingsuit jumping/power of attorney boutique.
 
ashkan said:
Only one person here (inerb) said anything about donating some of the hypothetical money! Pretty sad if you ask me.

I always thought id donate a big portion of it. Who knows if id actually do it but i hope i would.

You win that much money, even if you donate half of it, youre still instantly $25mln richer than you were the day before. Not enough?

Greed has no limits indeed.

Again, dont mean to sound preachy since i didnt win it and i didnt donate it. But i would like to think some people would actually care about others as well as their own.

now what to do with my other $25mil :D I'd start with taking wingsuit jumping classes!
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I'm from the school of thought that helping out the less fortunate was a given...but not in a lump sum...don't trust the charities enough.
Also, being a modest humble philanthropist is best imo.
But yes, I would also donate.
Did I mention hair plugs, lipo and ice cream?

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