7 Quick Takes Friday - Lottery edition - March 30, 2012

Well, I did it. I bought a lottery ticket today. Yes, just one. With odds of one in 176 million, I won't win, but I thought it'd be fun to dream about what I would do with 347 million dollars.

--- 1 ---

The first thing I'd do would be to hire a tax attorney and a financial advisor to get the best advice on investing and tax liability when I start spending my money. Actually, we'd probably hire Collin's brother as our financial advisor. Not sure who we'd use as our tax attorney.

--- 2 ---

Once all the tax/financial mumbo jumbo was taken care of, I'd calculate how much we could invest to enable us to comfortably live off the interest for the rest of our lives, and invest accordingly. We'd also invest enough to pay for the kids' college educations.

--- 3 ---

At that point, I'd pay off all of our debt -- mortgage, car payments, student loans, everything. Then, I'd pay off all the debts of immediate family members (with the exception of credit card debt -- they're on their own for that). I'd also buy my father and my brother houses, since both are renting right now.

--- 4 ---

Then the charitable giving would begin! I'd give enough money to my parish so that they could finish furnishing the interior -- pews with kneelers (we don't have them yet), statues, stained glass, the works. I'd also give my church money enough to enlarge the parking lot and build a new social hall/office, as well as a Catholic school (once that school was built and staffed, I'd send my kids to it).

--- 5 ---

Several of my favorite non-profits would get an extremely large donation -- Reece's Rainbow, Maggie's Place, 1st Way CPC, Immaculate Heart Radio, Catholic Answers, St. Vincent de Paul, and others.

--- 6 ---

Travel would also be on the list! First and foremost would be a cruise to Italy. My dream is to someday see the Vatican. We'd also go to Disney World, and all around the country visiting friends and family.

--- 7 ---

Finally, if we had any money left over (hah!), I'd pay to have the entire interior of my house painted a color other than peach (almost every room in our house is peach, and I loathe it). And I'd install a jacuzzi tub; maybe two (one outdoors and and one indoors).

Oh, I'd probably go back to school, just for fun, and get a master's in Catholic theology (or a similar degree program).

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  1. Isn't it fun to dream?

    Can you also buy my church some new chairs for their chapel? They haven't changed their chairs since the early 1980's and they're dated and old with tears in them...

  2. it was up to $640 million when i got home tonight. there was a banker in front of me in the grocery store and she was telling the checker that people had collectively withdrawn more than $50K over the course of the day to buy lottery tickets. that's insane!

  3. We bought a one dollar ticket, and we lost. :)

    But, we did dream for a while. Mostly about the orphans. And a new house.

    Someone in Maryland won.

    I like your list, by the way! It would be so fun to pay off loved ones' debts.

  4. You realize it is $367 million....Not $37,000 LOL

    You sound very thrifty!!!! hahahahaha

  5. Sew, I thought the same thing! I suppose that's why so many lottery winners go bankrupt!

    I cringed a little when you said you wouldn't help others with credit card debt. It's a sensitive spot for me because we have it, and not a small amount, due to my husbands years of underemployment and our decision for me not to work despite his low income so I could stay home with the kids. Our credit card debt is literally groceries, gas, and even mortgage payments when his checks were so low we couldn't pay. So it's not always trips, expensive clothes, and frivolous purchases that make credit card debt. Unless you know your family's is and that's why you wouldn't help them! Just hit a sensitive spot for me so I thought I'd chime in.

    We played and lost too. Boo!

    1. The frivolous aspect of the debt is part of it, although I figure with no more house/car payments, they can afford to pay it off themselves. :)

      Sew, my charitable donations would be VERY large!! Like, ten million each.

    2. To clarify - most cc debt would probably be frivolous in nature, not groceries/gas/etc

  6. I called my parents who live in maryland and asked for a new house and a few orphans for me and my friends.

    But he didn't win. :(


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