If you won huge amount of money in lottery, what are you going to do with it?

Philippines
June 8, 2009 6:27am CST
have you heard of individuals who won lottery? Those people who are poor but then became an instant millionaires because of winning in lottery or sweepstakes? Well, I heard a lot of them on tv. I also noticed that most of them went back where they came. From being poor to rich to poor again. And why? Due to mishandling of their money. Well, we cannot blame them as maybe they do not have financial literacy to start with. It's just that it hurts me to think that they have the opportunity to enjoy life to the fullest but lost it. As for me, if ever I won, I will make money work for me. I will invest and invest and invest and use the income to support me:) How about you?
8 people like this
61 responses
• Philippines
8 Jun 09
Buy the World™
1 person likes this
@angemac23 (2007)
• Canada
8 Jun 09
I would give some to my family and close friends and than I would travel around the world!
• Philippines
8 Jun 09
Well if that is your response my friend, i think you will lose the money as easy as you receive it. :) For me, you should think of investments first and use the income from those investments for your personal needs. In that case, even if you are using the money, the principal is still there and intact. :)
8 Jun 09
To each his own. This person may not care about long term, they may just care about right now. Personally, I agree with you to an extent, but what good is money that you can not spend. It is worthless. I believe some of the money should be made in investments for personal growth, but life is too short not to help people or travel just to hoard money or keep it all to yourself later down the line. What kind of happiness is that?
@angemac23 (2007)
• Canada
9 Jun 09
You are right and that is one of the things I would do on top of the other things I mentioned.....Investing some of it would be smart so it would last and I would have some left to leave behind for children and grandchildren!
@vicky30 (4774)
• India
4 Jul 09
If i won a huge amount in lottery.I am going to give half the amount to the poor.Then i am going to buy the things i like.I am also going to buy the things i like.I am going to travel around the world.The remaining money i will invest somewhere to make more money.If i still have enough money i will put it in the bank or start a big five star hotel as business.
• Philippines
4 Jul 09
You seemed to have a lot of things that you want to accomplish friend. :) But that is okay. Everyone wants to pamper ourselves every now and then specially if there is huge amount of money. I am with you in giving some for the poor. :)
@dismalgrin (2472)
• United States
11 Jun 09
I don't trust investing so I wouldn't really take that route. I would use the money to spend on something that would in some way help me be more self sufficient in the future. Right now if I won the lottery I would buy myself an acre or two of land and have my mobile home moved out too it. I would also try to buy some sort of solar powered generator and a gazzilion seeds to plant a garden with. These are just a few of the ideas that I have. I like pretty things and modern things, I'm not that crazy... but I do think that society in general is far to dependent on 'the system' and it is a system that not many of us actually trust which leaves the system doomed for failure. I don't want to be radical, just prepared.
• Philippines
11 Jun 09
We all have our opinion as to what and how we do things. Real state is also a good investment. I would love to invest on it as well in case I win in a lottery. :)
@tjburcham (690)
• United States
10 Jun 09
I don't think that it's so much mishandling the money as it could be long lost relatives and friends and the needy just come out of the wood work. People that haven't had money and then get alot may feel guilty and want to help everyone that asks. Since they come at you one at a time you don't feel that big of a loss in the money at once, the next thing you know your back to being with out but everyone else has.
• Philippines
11 Jun 09
I learned this on tv. One local show here discussed about the lottery millionaries and where they are right now. For the first millionaire, what he did was he invested ALL his money on bank and just live with the interest. Would you imagine millions deposited in a high-interest bearing bank? Of course, the interest is big enough to sustain their needs. According to him, they can even travel abroad with the interest and stayed in a hotel all day night. But his mistake was, he did not scattered his investment. He just relied in the bank and it's interest. So when the bank was bankrupt, all his money was gone. He did received a certain amount from insurance though but it was actually nothing. During his interview, he said that should he be given another chance, he would be wiser now. But then again...no one knows if there will be another chance. He let the chance of his family to live in comfort for the rest of their lives slipped in his hand. That's how sad his story is.
@paula27661 (15900)
• Australia
10 Jun 09
How many times have my husband and I sat down and day dreamed about a big win! Investing for the future and helping others would be paramount ahead of holidays and 'stuff'. I would hope to win a lot because World Vision would be on the list of recipients as well as the RSPCA. It would depend on the amount but I think I would be unlikely to move house or anything like that. The first thing would be to set it up so that we would not have to work for an income again. I would help out my sister; buy some new pieces of furniture and a new car. If there was enough left a housekeeper would definitely be on the cards and I would just relish in not worrying about finances ever again!
• Philippines
10 Jun 09
Yeah, we all want to be debt free. That's the main reason why we are all working so hard...with our job, with our online sidelines...To gain money to support our needs. I am with you on that girl. I liek your plans with your money if ever... :)
1 person likes this
• India
9 Jun 09
I agree with you. When they get so much money suddenly, they don't know how to handle all those money and unfortunately they loose it. If I win any such lottery, first I am gonna buy is a good phone for me and then some money for donation or for the poor. But the rest money I will am gonna invest for my education or directly in my savings account. Well I am no saint to donate half of the money to charity!loll!
• Philippines
9 Jun 09
lol! No need to donate all your money to charity. It is what your heart really desires to give to them that matters. We should have no reluctance when helping others.
@gemini_rose (16208)
9 Jun 09
I would like to think that should I be lucky enough to win big on the lottery then I would look after the money and make it last my lifetime. My hubby is a pest when it comes to money, he would want to just spend spend spend so I would have to come up with a plan so that I could keep some away from him!!
• Philippines
9 Jun 09
Hahaha. Yeah, better make a plan to ensure that everything will not be lost due to irresposible spending.
@hairypits (294)
8 Jun 09
I wouldn't tell anyone I had won it. I would buy my own hair salon (I'm a hairdresser) and buy my hubby a few trucks to set up his own haulage firm. Both of us would work but with minimum effort. We would finish renovating our home but with full price versions of what we like instead of cheap versions and would holiday twice per year. I would also take the time to show my dogs. It would make life less stressful and more financially comfortable x
@DrRac0 (126)
• United States
9 Jun 09
I wouldn't tell anyone either :D nd would definately open a bussiness or just invest the money
@AlyssaCB (68)
• Canada
8 Jun 09
I would Pay my parents Morgage, Pay for my Brothers Education and probably Purchase a Home and rent out my condo, then invest the rest... Im not sure i would quit my job, i enjoy what i do.
@DrRac0 (126)
• United States
9 Jun 09
i would pay my parents morgage 2, nd py for my little sisters education
@max1950 (2314)
• United States
8 Jun 09
i'd finally go to tahiti and bora bora and live over the water in a grass shack and dive to my hearts content. then id put the rest in a no risk cd that has a higher percentage rate than the others. you can take the money out whenever you want " without " penalties. bank of america offers them and their great. then sit back and live on the interest.
• Philippines
8 Jun 09
It is good to hear that you do have a plan to invest some of it in case winning the lottery happens to you. :)
@jdyrj777 (6564)
• United States
10 Jun 09
I would investagate businesss. Then purchase a business that i know would earn money for me for lifetime.
@jacosci (55)
• United States
10 Jun 09
If i won the lottery first of i would go blow some of it the give some to my friends and family. After that i would invest in some presious metal companys and oil companys becouse those are most definitly going to fly up in price. Travel
@faithtao (13)
• China
10 Jun 09
Good luck for you win a great of money if i won the meney i will research the truth of the world, of course i also make money work for me invest and financial management. but ultimate goal is understand truth of the world. and find out what is peoples living target and why
• Philippines
10 Jun 09
If I will win a huge amount of money, foremost, I will pay in full the lot that me and my soon to be husband is paying for more than two years now. Also, I would ask him to prepare the plan for our house, 'coz we would want our house to be designed by us. Then, I will be having my own business, a computer shop, a franchise of Jollibee, and a grocery store. I will also donate some in charity. The rest, I will still have to think of that. But definitely, I will invest them in business. Then, the earnings that I will have in my business, that I will use to travel the Philippines and the world together with my family.
@rusty2rusty (5619)
• Defiance, Ohio
9 Jun 09
If I won the lottery I would use it to help my family out. Also my extended family ndsome frieds. I would also donated money tothe local food and animal shelters. I would also donated money to the church I attend. I had thought of possible having the money goes towards a pay ground or bigger play area for the youger kids..pre-teens.
• United States
9 Jun 09
First I would cry fainth and maybe go crazy lol. I give some to people that are really important to me that I know they need it. I would also invest part of it so I coud make more from it for my kids. And the last part use it for what my family and I migt need and also to take some trips to lurn more about different cultures. I don't think I would by anything fancy just things that we really need to be stable, like a house so we wont have to pay rent a car that wont keep breaking down on us that is not expensive.
@Sorru123 (31)
• Malta
9 Jun 09
If i ever win the lottery and be sufficient for my needs, I will invest them in Computers and Music apparatus. This is my dream, and i think it will still be a dream.
@ds6413 (2073)
• United States
9 Jun 09
Hello chikadee21ph , well I have not met anyone who has won the lottery but my mom has a friend who won a lottery but not a really big one like millions of dollars.It was a large amount but not large enough to retire on. I know she still worked but I don't know what she ended up doing with her winnings, probnably her husband and kids used it. Well if I won a huge sum of cash I would put it away. I might buy a small car for my personal use. My b/f and I share a car but he has to use it for getting to work.Other than a reliable car I would take time to decide how I should use the money.
@Citychic (4083)
• United States
9 Jun 09
If you won hug amount in the lottery, what will you do with it? Hello friend, was passing by the big street sign not long ago and see that the lotter is up to 45 million dollars, I did not buy a ticket, I told hubby I will wait until it goes up to about 100 million or 85 million then I will go buy a ticket and take home everybody's money they have lost, hee hee hee........... Well now let me think if I won a hundred million. The first thing that I would do would be to buy some property back in my hometown. There are houses out on the water that I just love to look at and to dream about and I love to think that one day I will live in one of those houses. Also after giving away alot of the money to family, friends and strangers and charities I would invest it. I love to make people smile and to see them laugh so I would probably use about at least a quarter of the money to just give it away. Fifty percent I would invest and 25 percent I would spend however I chose to spend it... There are a lot of things that I could do with a hundred million and one of them would be to get myself completely out of debt. As for the people that blow it all, I can only say that they had their chance but now it's somebody else's turn, if they don't know what to do with that much money I do wish they would turn it over to me, then I would gladly show them what to do with it. Happy Mylotting!