Want to win a Million? Do you really?

@owlwings (43915)
Cambridge, England
February 18, 2010 4:37pm CST
Would you really be as sensible as you like to think you would be if you won the lottery Jackpot? Perhaps you would not go as mad as Mikey Carrol (who has now put his mansion up for sale - here is the promotional video: http://uk.video.yahoo.com/watch/7002451/18206404 ) but do you think you could really cope with more money than you could reasonably spend? Recently a British guy won £56 million pounds in the Euro Lottery. Just investing it will give him an income of nearly £200,000 a MONTH (that is round about $300,000 a month ... you can do the calculations in your own currency, if it makes any sense). We most of us like to dream about having huge amounts of money at our disposal but, in reality, we would be embarrassed and would not know what to do with it. There are a number of large wins that have gone unclaimed. They can't all be lost tickets: some must be (and almost certainly are) owned by people who are frightened of having that amount of money. So why play the lottery in the first place? Many of us are struggling to make dollars per day, let alone tens or hundreds. If it were all suddenly given to you 'on a plate' ... let us say just a couple of million dollars ... would you really know what to do with it?
9 people like this
29 responses
@ronaldinu (12422)
• Malta
20 Feb 10
If I dbe able to pay my mortgage and other personal loans and live a comfortable life without worrying to pay the bills I d be happy. If I d won the lottery I will make sure that the rest of my family live a better comfortable life but I dlike to travel to places I have never had the chance to visit in my whole life. I would like to Visit England from north to south each corner of it and other places in europe such as Austria Sweden, .... to far away places such as India etc
1 person likes this
@nannacroc (4049)
19 Feb 10
I really don't know, Mr Owlwings and, to be honest, I've never really wanted lots of money, just enough not to have to worry about bills and emergencies. I never play the main lottery, I only play the thunderball version. The highest prize there is £250,000 and that would sort me and my girls out nicely.
1 person likes this
@jesssp (2712)
• Canada
19 Feb 10
I think I could handle a few million quite readily. I don't think I would let it go to my head and I don't think I'd go on a huge spending spree. I actually really like money, I find all the different things you can do with it to be really interesting. I think I would be able to make really good use of a few million dollars and still invest and plan for the future. I would buy (or build) a nice house, I think I would also acquire some lake property but I wouldn't need to have anything too extravagant. After all my big purchases I really do think I would still have a million + left over. Then I would maybe go to school, learn all about investing and all that good stuff and try to maximize the remainder of my windfall.
1 person likes this
@artistry (4152)
• United States
19 Feb 10
...Hi owlwings, Oh yeahhh, I think I could work it out. Reality bites sometimes and if you are not used to money, you can wind up in a trick. Many of those people who have won millions are now broke or worse. People steal from them and other terrible things sonetimes happen. I think if you can force yourself to behave mentally like you did prior to getting all the money, perhaps you can survive what could be an ordeal, that of being instantly rich. But I would first give a good sum to my church, and to a few charities. I would give my sisters some of it, along with my nephew and nieces. Then with what's left, I would invest in some utility stocks and blue chip companies, which I would research looking for ones that pay dividends. I would also buy a few apartment buildings and hire superintendents to take care of them, living on site. I would help some food banks as well. I would buy a few treasury bills and check out a few overseas companies for possibilities. I would search for a nice piece of land near water and have my dream log cabin home with a skylight roof and spiral staircase constructed. Then I would try to write some of the various things I have in the back of my mind. Travel a bit and relax a lot. I believe I could weather the storm of instant riches, if I didn't go hog wild with buying everything in sight that I thought I wanted, not needed, wanted. Take care.
@satya4186 (279)
• India
19 Feb 10
yes i want to earn money a lot and realy i want win a million ?yes i want
1 person likes this
• India
19 Feb 10
I want to win a million dollars so I can open a no kill shelter for animals. They are helpless creatures who depend on us for everything. I would also help my friends that are having a hard time making ends meet, and my 95 year old mother who can’t afford to pay her heating bills every month. I try to win the lottery but it just doesn’t happen.
@urbandekay (18278)
19 Feb 10
Yes, I would know exactly what to do with it. all the best urban
1 person likes this
@MsTickle (25180)
• Australia
23 Feb 10
I wouldn't worry about it too much, that's for sure. I know I would like a new home, closer to my family but still away from the rat race and to be fitter so a personal trainer is on my list and so is a financial advisor. I'd like to travel and perhaps live overseas part of the time so I would need some healthy investments. The sad thing is, a couple of million doesn't go too far these days.
@BarBaraPrz (45594)
• St. Catharines, Ontario
18 Feb 10
Lottery tickets - A couple of losing lottery tickets.
Would I really know what to do with it? I'd like to think so. And if I didn't, I have at least one friend who would LOVE to help me out. Now, today being my birthday, one of my sisters sent me a couple of scratch-off lottery tickets. On one I could have won up to $50,000 and the other I could have won $1000 a week for life (it doesn't say on the ticket but I think "life" is up to 25 years). Of course, I didn't win anything, not even a free ticket. But it's the thought that counts.
@BarBaraPrz (45594)
• St. Catharines, Ontario
19 Feb 10
Thanks for the bd wishes, and yeah, darn that I didn't win.
@xfahctor (14118)
• Lancaster, New Hampshire
18 Feb 10
Well cripe, I wish some of those frightened people would let me claim their winnings, I would be glad to help them aleviate their fears. Would I know what to do with it? Heck yeh. I already have a number of ideas. Some of course would be invested so I could have continual income. Some would go in to college funds for my grand kids in addition to my now adult kids for the same purpose (not just gonna hand em money). A lot would be invested in my community, a youth center comes to mind. I would invest some in a private space project, it's an interest of mine. Anyway, i have plenty to do with that kind of money and would have no fear of it. I don't even need a million....winning a few tens of thousands would even be great and would be enough to make me a bit more secure and comfortable, I don't need much to live on.
1 person likes this
@sid556 (30960)
• United States
22 Apr 10
Actually, I have given this question much thought and NO I would not want that much money. While I would like to have enough to say, not worry about paying my rent and utilities etc., I think that would be far more than I care to deal with. I don't even buy the lottery tickets other than an occasional scratch ticket. I work in a store and sell them and I know the odds of winning are next to nothing anyway. For a person like me, winning that much would just be overwhelming and to be honest, I wouldn't know what to do with it all. I am a single mom and all 3 of my grown girls are very hard workers and very responsible. I think that comes from not having everything handed to them. I have a 16 yr old at home still that is doing well. She holds a job and goes to school. Still she is 16 and I can only imagine the nightmare she would become if I were to win that sort of money right now. As for those that play and are frightened by that sort of money...I get it. Even when I buy a scratch ticket, I never ever think that I would win huge. I am very excited if spend 3.00 and win ten. I think they are not really think they could win "the big prize".
@celticeagle (159538)
• Boise, Idaho
19 Feb 10
If I won a couple of million I would go directly to my tax adviser and pay the taxes on it. Then I would seek out a money manager adviser type person. I would put some in CD form, some in savings, some in my debit acount to spend. I would figure how much I would need to live on per month and keep that amount available for say a year. It would depend on what my money advisor says as to whether I can afford a house, condo, etc. for I would want the money to last me a life time. I would want a new car and clothes. My big dream is to travel so I would want a great deal left out and in my debit account so I could travel. The savings would be gaining interest and I would use it for emergencies if needed before the year is up. I would just have to live on a monthly allowance until I have figured how much is going where.
@celticeagle (159538)
• Boise, Idaho
19 Feb 10
Ya, it would take a little planning and talking to the advisor about different situations and things I want to do. Lots of thinking.
@cbjones (1147)
• United States
19 Feb 10
One should never underestimate my ability to spend large sums of money in a short period of time. I tend to take such a claim as a challenge. If I did get a million bucks, and had to spend it within 5 hours, I'd figure out a way to make it happen. I'd probably end up inventing jobs for people to do, and paying them a hefty sum for taking part in the experiment.
• China
23 Apr 10
in my opinion money is a tool , helping people to achieve their's dream so no matter whether we get amount of money or not. we must know what we want in our's life this is a really important thing!
@owlwings (43915)
• Cambridge, England
23 Apr 10
I think that you are very right. Money is just a means of having what we need and want. Most people who win large amounts haven't any real idea of WHY they need the money or how they would really use it to further their goals. People who start with their goals may or may not need money to achieve them. If they have their senses about them, they will likely see ways of achieving that minimise or eliminate the need for money. Certainly, those people who think that they will achieve their goals 'if only they had the money' are seriously misguided! If something is sufficiently desirable, a way will be found of achieving it.
4 people like this
@pumpkinjam (8539)
• United Kingdom
20 Feb 10
I would like to, really. If I won just a few thousand, or even, perhaps 1 million, I may be fairly sensible. Firstly by buying a house and then clearing debts. Whatever was left, I would like to think I would be sensible with although perhaps having a small "spree" just because I could. Saying that, if I won several million, I would still buy a house and pay debts but would have little intention of being sensible! Of course, I wouldn't go and splash out on expensive houses, cars, parties and the like and I wouldn't do what I have heard some people have had to do like winning millions, wasting it and then ending up on benefits. That's just stupid. I would probably live a pretty "ordinary" life still but it would mean I could go on holiday, pay bills and do all the normal things I would like to do without worrying.
@Qaeyious (2357)
• United States
19 Feb 10
Fortunately with me a citizen of the United States I won't have such a problem. Our beloved federal and state tax boards will make sure I am not burdened with such a problem. I might be left with a down payment on a house. Or pay in full for a nice car and have enough for insurance for few years. Gasoline prices will eat it up faster though. Now if the prize was for $100 million, and I hire lawyers and tax advisers and extend my court dates to a decade or two, maybe I can keep $1 million. I will then die of exhaustion and the burden will fall on my beneficiaries who would have an estate tax to pay on the net amount. What a great country I live in. Seriously though, if I get that amount after taxes, I would hope that I am old enough to know I better get some professional help with the investment and estate planning. Unless the fees for that would be over $300 thousand or so, in which case I would just put it in a money fund and invest a moderate amount in mutual funds.
@fluffysue (1482)
• United States
20 Feb 10
Wow, that is horrible what that guy did to his house (I don't know the whole story, just what I saw in the video). I like to think I would not go crazy like he apparently did. If it was a couple of million dollars, I would buy a house (this would take up a large portion of it here in NJ, probably $300-500,000), give some to my nieces for their future education, and the rest to my parents to go towards their retirement. If I won as much as the British guy who won the 56 million pounds (which is about $86 million USD), I would certainly make sure all my family's mortgages are paid off, my parents could retire, and give enough to my sister and her family at least to pay for their college and let one of them stay home with the kids if they wanted to. And I'd probably buy a lot of stuff, I really do like to shop. But I can't see trashing a place like what I saw in that video. And I would make sure to invest a large portion of it, to make sure that I don't spend it all, because I know I could. Actually I already told my friends that if I win the lottery, the first thing I'm doing is booking us all on a cruise, most of us are either not working now, or have been unemployed at some point over the last couple of years, so it's been awhile since some of us have had a real vacation. So that would be the first thing.
19 Feb 10
Simply yes, there are a lot of things I would like to be able to achieve such as to be able to purchases some houses so that I could offer non-profit affordable accomodation to those who need a chance in life, I would like to help those who have suffered financial loss due to addiction but have shown that they are trying their best to work their way out of the mess they go themselves into as well as several other areas which are close to my heart. This is the thing, I know what it's like to have less than £1.00 in my pocket to last me a few days, I know how hard it is to get anywhere after you have made a mess of your life and more importantly I know how to survive on less than basic salary. So for me the winning of a sizable amount of money would provide me with the financial stability so that I could then help others more than just in a mentoring manner. But that is me and I came to learn the value of money the hardway and as such know that if I got that amount of money it would be not wasted but used wisely. It seems that those who are yet to learn the real value of money and what it means to scrape by are the ones who when given it on plate end up wasting it.
@jayrene (2708)
• Philippines
19 Feb 10
i can honestly say YES, i know what to do with it... i've been sort of wishing id win the lottery and I have it all planned out if I DO win... first there's my house that i need to pay in full... my siblings that i need to buy a house of their own too... a car/van for my family not a fancy one but a really good one, enough savings for my 3 kids education till they graduate from college... some donations... a capital for the restaurant iv'e been wanting to have for a long time... and enough savings just in case that restaurant wont do well... these are what i consider important. for my wants, that is if there's still money left, id like to travel...
@vandana7 (98963)
• India
19 Feb 10
Hello owlwings, How are you doing? :) I dont think I would know what to do with that much! And I would be terrified for my life and the life of my loved ones once that much of amount comes into my bank! :) You know people kidnap, and all that! :) I always wanted only a limited amount - food, clothing, shelter, and medicine. :) Apart from this some pleasures like television, computer, a car, a mail, and some outing once in a while. :) What do people really do with that kind of money?