Recession Mama











{July 19, 2009}   Winning the Lottery

By Katy

If I won the lottery...

If I won the lottery...

Do you fantasize about winning the lottery?  Of course you do.  You and everybody else.  I do it a lot when I’m not working.  It’s actually a bit like Prozac to me, and I like to take my anti-depressant with a little game.  Sometimes I give myself an imaginary amount, and I think up all the things I’d like to do with that money.  Sometimes, I just write down everything I would do, if I had money, and the grand total is what I pretend I have won.  I’m sure everyone’s done this, right?  Well, here’s a little insight into what I like to do if I won the lottery (and after the Tax Man has gotten his share):

  • pay off mortgage & any debts I may have

  • pay off my parents’ mortgage and give them a set amount every month

  • buy my dream house

  • give half to my church and charities, maybe start up a scholarship fund at my alma mater – NYU

  • up my insurance (this may be imaginary, but I will still be well protected)

  • pay for my dream wedding (pay to fly people in and set them up at a nice hotel)

  • travel around the world for the honeymoon

  • buy my grandma her own place (or build a great guest house behind my house for her to live in)

  • give my brother a chunk of money to invest (because he’s good at these things)

  • start my own company (so I can employ others and give them job security and satisfaction)

My brother tells me that in business school, a professor told him that buying a lottery ticket is the equivalent of an idiot’s tax.  And we’ve all heard the pitfalls of those people who win the lottery and then end up broke the next year.  I’ve also kept in mind that on the ABC hit drama, “Lost,” Hugo blamed winning the lottery on his bad luck and the plane crash.  Despite the warning, name calling, and TV show reference…I still do want to win the lottery, and I know you do too.  So, what would you do with the money if you won the lottery?



I’d put $5 million of it into US Treasury Bonds, so I can have enough income each year to match how much I would make if I was working.
Then I’d probably donate to some small local charities and schools. The problem with charities is that most of them don’t manage money well. Check out http://givewell.net/ on what the better managed charities are. Then I’d probably spend the rest of the money until it was gone.



Katy says:

Oh yeah I need to put at least $1 million into bonds or somewhere really safe too. Good idea! And yes, a lot of charities don’t manage money well. That’s why I was thinking of starting my own scholarship fund.



Heather B. says:

Not sure! I’ll have to think about it. But I would definitely give to my church, family and set up trust funds for the kids. I would also disconnect my numbers, so the pesky media couldn’t call me. Ha!



Katy says:

I would change my phone number too! LOL



carla says:

I do that too, Katy! I do the list thing…ha…that’s crazy. At least I’m not the only one doing that.🙂 Mine are just about like yours. Take care of my parents, my brother, my mortgage…I’d set my kids up for life as best as I could with college money and stuff like that. But it’s funny how we do this. I don’t think everyone ends up on the losing side of winning the lotto. You’d handle it just fine! Oh, and me, too. DARN IT, I just realized that tonight’s the Texas Lotto drawing and I don’t have my ticket. Oh well…next week. Wish me luck. I’ll throw you one killer bachelorette party if I win : ) Fo Realz



Katy says:

Doesn’t it just instantly make you feel better about whatever you’re feeling bad about? And thanks for offering to throw a killer bachelorette party if you win! If I win, I’d take care of the Bachelorette and your plane ticket and hotel for both that and the wedding!



[…] why don’t I just find something more stable or why can’t I just win the lottery (hence last week’s post).  I know a lot of my fellow freelancers go through this self-defeating, self-absorbed […]



Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

et cetera
%d bloggers like this: