The Big Lottery “What if…”

I love this question so much – If you won the lottery, what would you do?

Who hasn’t run through this scenario every time they’ve purchased a ticket? Dreaming up what your reaction would be, what would be the first move, how to use the money. I’ve done it plenty… so let’s dive right in!

First, I would sign the back of the ticket. I am nothing but practical.

Second, I would tell absolutely no one. Sorry, family and friends, but you wouldn’t know until you started to do math on how we were living our lives.

Then we would sit on it for at least 14 days.

In that time, we’d talk to our financial advisor and estate lawyer to ensure we take the appropriate next steps to make the most of our winnings. Chances are we’d take the lump sum. I’ve read a lot of articles about this and because of rising interest rates and inflation, your best bet is to take the lump sum and then invest it. But you know, I’m not a lawyer or financial analyst.

Once we had the money, we’d take swift action to pay off all our debt, including the house. Then we’d buy new cars, but stagger them so no one would know. (Our cars are also 12 and 22 years old so this wouldn’t set off any alarms to anyone. Ha!) We’d likely spend money on a few small irresponsible purchases – let’s be real – who wouldn’t? I have a handbag addiction that is just itching for a stupidly expensive addition.

Then we’d plan a trip for the family. We’d probably take the boys somewhere to relax and wrap our heads around the windfall. It’s during this time that we’d discuss what the next steps are. Would my husband continue to work? Would I continue to run my business? If so, what would both of those look like?

The reality is I don’t think either of us could completely not work. We’d drive ourselves and each other nuts. But the amount and type of work we do would likely change. I’d take on less clients. I’m sure Hank would work part-time. And then we’d probably volunteer a lot. Maybe I’d finally do more designs for my Etsy shop. Who knows.

Honestly, I think we’d be overwhelmed by the situation we found ourselves in. Investments to take care of ourselves, our boys, and others as we see fit would be top priority and then we’d continue to live a fairly quiet life.

I don’t really relate to the idea of immediately quitting our jobs and buying crazy expensive things. All of that seems like instant gratification that can only lead to a free-fall of depression. I don’t know… would you do that? Let me know below. I’m curious to know more about other people’s perspectives.

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