If You Won The Lottery...

[slonezp]

1. Form a LLLP, with 4 limited partners (wife and my siblings/parents) and a general partner (living trust in my name) using a reputable estate lawyer

2. Leave a certain percentage based on winnings in a living trust for my immediate personal use

3. Hire a reputable CFP/CFA to have a diversified investment plan with the primary focus being on cashflow generation and secondary as principal growth to create a legacy for future generations

4. Create a charitable trust so my moral obligation to society is met, notice I said my moral obligation, not an obligation

5. Travel, play, and party the rest of my life off.

Some fishing/jhunting dreams:

1. Have my own custom built 50-100 acre lake custom built by Bob Lusk

2. Hunt free range big game all over the world with a bow and/or rifle

3. Fish Brazil for peacocks on an annual basis

4. Have a marlin slam within 1 fishing season

5. Have my own managed ranch or lease one with a emphasis on wing shooting (quail, duck, and doves)

6. Fish 3 to 4 days a week instead of 1 to 2

7. Hire Manabu Kurita to take me fishing on Lake Biwa for 1 month everyday possible during peak season

8. Have a lake front house on Falcon or as close to as possible

9. Have a lake front house on Okeechobee with canal and main lake access

10. Make it a point to have an inshore slam every year while in my Keys house

Additional Boats I would own:

1. Yellowfin 17 skiff (Technical Flats Boat, in the keys)

2. Cabo 45 Express w/Tuna Tower (Port in North Palm Beach and the Keys)

3. Seahunter Tournament 35

4. Modify my current Bullet 21 XRD

5. Have a Ranger Z22 at my Amistad or Falcon House

6. Have a Custom Big O boat at my Lake Okeechobee House

7. HIre Dwight as my full time captain

Been thinking about this awhile?

You now it's funny. I wonder how many people ever really live their dreams after winning the lottery. They did a special on 20/20 before the big drawing. The majority of winners have blown thru their winnings in 6 years. A guy I work with won a million dollars on a scratcher 4 years ago at the age of 24. Winnings payable in an annuity. Something like 35k a year paid out over 20 or 25 years.He has blown every check to date and has nothing to show for it. Still "weighing his options" is what he tells me. Kind of sad if you ask me.

[Traveler2586]

Been thinking about this awhile?

You now it's funny. I wonder how many people ever really live their dreams after winning the lottery. They did a special on 20/20 before the big drawing. The majority of winners have blown thru their winnings in 6 years. A guy I work with won a million dollars on a scratcher 4 years ago at the age of 24. Winnings payable in an annuity. Something like 35k a year paid out over 20 or 25 years.He has blown every check to date and has nothing to show for it. Still "weighing his options" is what he tells me. Kind of sad if you ask me.

The nice thing about the Lottery, you don't need brains to play or win

[South FLA]

Been thinking about this awhile?

You now it's funny. I wonder how many people ever really live their dreams after winning the lottery. They did a special on 20/20 before the big drawing. The majority of winners have blown thru their winnings in 6 years. A guy I work with won a million dollars on a scratcher 4 years ago at the age of 24. Winnings payable in an annuity. Something like 35k a year paid out over 20 or 25 years.He has blown every check to date and has nothing to show for it. Still "weighing his options" is what he tells me. Kind of sad if you ask me.

I manage money for a living and I have a windfall millionaire who won and hasn't blown his 37M, yet, so I understand what needs to be done to protect the money. Most lottery winners, professional athletes, and celebrities unfortunately have no clue.

[Traveler2586]

I manage money for a living and I have a windfall millionaire who won and hasn't blown his 37M, yet, so I understand what needs to be done to protect the money. Most lottery winners, professional athletes, and celebrities unfortunately have no clue.

Although I don't know anyone with money, from some of the articles I've read I believe your correct. They get the money too fast to learn any kind of respect for it, and it's true value.

That leads me to believe if I were to "win it big" I'd setup some kind of trust fund that would pay family/friends a specified sum each year based on their judgment and use of the previous years gift, i.e. if they pre-spend - they get less the following year. I'd let the professionals figure out how to design such a plan. I would want to improve someones life, not send them into a debit spiral.

[mrmacwvu1]

^{two chicks at the same time}

[Traveler2586]

^{two chicks at the same time}

You are dreaming

[Jake P]

^{two chicks at the same time}

Office space? Nice!

Seriously though. I would buy my parents and in laws new houses and vehicles. Help out family members and friends as much as i see fit. Donate to certain charities and research groups. Put a few million in a fund for each of my 2 kids and another account for reserve holding about 10 million. After i did that.......oh MAN!

Buy a new truck, boat, and multiple toy cars. New house, all new setups and order 3 of every lure from TW. build my own man garage on the land that i would buy where my new house would be that would house my boat and all of my tackle/ rods and reels. Construct my own 100 acre lake with all kinds of cover and structure and stock it with bass bluegill and crappie.

After that i would honestly go to school and get a degree and learn to open and run a business where i could employee friends and family and have something to give to my kids when im gone. An honest and respectable business that is not like the one im in where the top dog profits no matter who gets screwed in the process.

Lastly, i would have 10 thousand dollar rolls in a bag and i would randomly hand them out to people/ families that i think need and deserve them. I love giving and helping, i think it would be amazing to just give out money to random people.

Tomorrow morning i will get up at 730 in the morning and go to work and make my average american salary and when i finish my work for the day, whether it be at 5 pm or 1 am, i will come home to my wife and kids and be just as happy as if i had 400 million dollars.

[Bankbeater]

First thing I would do is pay off my house and cars. About half would go to a retirement fund for my wife and I. I don't think that I would go out and start spending a lot on the kids. They should learn the value $$$ themselves.

[Traveler2586]

......................... I don't think that I would go out and start spending a lot on the kids. They should learn the value $$$ themselves.

We told our children that if they wanted to drive, they had to earn the money to buy their own insurance. That started them on the road to earning their own way, and we never told them how to use the money they made, they both liked the feeling of that Independence and they put themselves through collage with little help from us.

[trevor]

Put the ticket behind a McDonald's Flurry machine.

[tnbassfisher]

Been thinking about this awhile?

I think if I was buying a $1 ticket, I would get $1 worth of enjoyment just thinking about what I would do with all of the money.

[Bankbeater]

On second thought, I think that I would try and buy Lake Fork from the state of Texas.

[WookieeJedi]

A few hundred acres of prime real estate in Costa Rica. Live there for 6 months before deciding how to spend the rest.

[Bassn Blvd]

^{two chicks at the same time}

You must be on team Pampers. Since when do you need money for that?