By no means am I an advocate of playing the lottery… but I am curious to hear others point of view on the topic.
I personally do not think it is a wise financial decision but it can be interesting to think about what you might personally do if you were to win a boatload of cash.
There have been quite a few examples of people who won multi-million dollar lotteries who ended up losing it all in a matter of years.
With that in mind, I think it is safe to say that just because you have a lot of money, does not mean necessarily that you are financially stable.
That being said, what would you personally do if you were to win a lottery or suddenly receive a bunch of money?
Would you quit your job? What would you buy?
Also, I am curious to know your thoughts about playing the lottery.
MOORE INCOME I think i played the lottery 1 or 2 times
never one. When I was younger I would play the scratch
off tickets they had and all ways won. The most I ever
won was $10. My husband never won those things.
I did win a $1,000 from a local store. They gave you a
scratch off card that the cashier would scratch off
You buy so much in things and they scratch what you spent off
on the card. Well i had 3 cards left and i let the cashier choice
the card and it wand my as the winning card. I’ve never for gotten that
day. The cashier has past away.
But If I did win the lottery I wouldn’t quite my job rite away.
I would pay all my debt and my house off. Put some up
in a bank,give to charity. I would hire some one to help
me invest in things.
I all so wouldn’t give my money to every one who comes around.
As a person I would change or let the money go to my head either.
I play the lottery every week and have since Florida made it legal. I only play 1 type of game so it costs me $2/week. When Florida first introduced the Lottery, I was in a work pool that won $10,000 and after taxes we each received $500. Since then it’s a few $4-5 wins here and there. There is no profit (so far!! LOL!). I enjoy the buzz of the risk. Some people skydive and climb Everest for a thrill, I bet a little now and then!
In all fairness, I truly enjoy the buzz of saving money too. It’s become fun for me to figure out all the ways to put money back into my pocket and that includes a few high risk gambles…like the Lottery!
I have always enjoyed playing cards for money and I used to bet on horses when living near a thoroughbred track, and the minute the casinos open on a cruise ship, I’m there!
But I am very restrained by allotting X number of dollars to the whim. I’m not lured beyond a certain point, win or lose. It is entertainment for me, nothing more.
If I ever won a large amount, I’d invest it and make sure my immediate family would benefit for their futures. We have passed through that stage of life where we desire materialistic things so buying nice things would be way down the list. I would travel.
I play once a week- 2$. We have a pool at work. I also have a spreadsheet that I work on when I’m having a bad day, HaHa. Really. I have allocated money up to $20 million. I AM READY!
Truly though, I would pay off my student loans which is my only debt. I would spread the money out with family, church and charities, and investments. Other than taking a fantastic vacation with my man, I don’t have any crazy plans for it. I have kids so there wouldn’t be much travel till they get older. The money would offer some security, and time- which is what I really want.
I have a friend who played once just because he wanted to try it out, he didn’t win anything but did it just to say he had I guess.
I recently watched a video by popular YouTuber “MrBeast” where he bought 30K worth of scratch off tickets and he did win money but in the end it was somewhere around 22K I believe.
It was just a reminder to me that the lottery is a “business” and if the lottery companies weren’t making money, they wouldn’t be in business.
MOORE INCOME I’ve seen shows or read where people have won
and first thing they did was quite there job. Than with in 5 years
be broke again. There a guy that won 3 times and all 3 times ended
up broke. That is sad to me.
I’ve been rich where I didn’t want or need any thing. When my husband
and I was young and we had our own business before. We could walk into
a store and get what ever we wanted. But than his mom sister and niece
came along and we started given them money, paying for there trips and
things. My husband and his sister would use is niece on us. They go places
than break down run out of money and would call us. So we end up giving
them the money. My hubby got mail from western union and it was 35%
off the next money he sent. oh he was so mad he ripped it up. lol
After that my hubby health started going.
By the time he was 40 he finally told his mom she could live with us
or we wasn’t giving her any more money. She cried here eyes out.
I wish I had done this to other family members would have never been
in debt now.
After that we been poor and i don’t mind it. i mean we have food
on the table and a roof over bills paid. But I would like to have more
money where i don’t have to worry so much.
I worked in this little town in Texas about 25 years ago. There was a small business- maybe 20 employees. 19 of played the lottery at work. Would you believe that the group hit the jackpot?! Yes, millions of dollars for the 19. I cant imagine being that 1 guy. That’s why I play at work.
Pay of all debts, Purchase a home big enough to be comfortable. Invest to a point, help family. set up college funds or my grandchildren & My special needs son.
I know a guy who won just under 10 million and took the payment plan. I met him before the final payment in the plan was due to be paid. He had a nice home and nothing else to show for it. I asked where all the money went he said he had a good life, nice cars, clothes, high living and had spent 80-100K a year on lottery tickets to try and win again. Go figure! Upon realizing that there was one payment left he wanted advice on what to do. I said get rid of the home buy something very modest f0r cash and don’t borrow or gamble any more! Alas it was far too late to be worrying about what is next but at least he may have been able to stretch it out for a while. The moral to this story is that until you do win , there is no telling what will happen without a very good plan in place right from the start.! Money is the root of all evil and it is nice to have it but the devil lies within its grasp.
If I was to hit the Lotto, I would make sure my mom and kids is taken care of first then I would start investing. That’s where people go wrong! They get all this money and blow on unnecessary things instead of for investing
We have discussed this extensively in my house because we play weekly. It’s a pretty modest amount of tickets we buy maybe $20 worth, but we always dream of what it would be like. First if it was a $1 Million, neither of us would quit our jobs, we would pay off the house and all of our bills and then go get two gently used cars (both of our cars are 12 years old) next we would treat ourselves to a weeks vacation. The remainder of the money would go in the bank, except a little investing and a bit to do those house projects that we could never get accomplished i.e new roof, tree removal etc. If it was the case of exorbitant jackpot, we would help our families and then maybe purchase a home on the coast.
