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Zia McCorgi by Cooner

"Spill it, Short Legs!"

The Journal of Zia McCorgi

Lottery winning
Zia McCorgi by Cooner
So I saw this bopping around a bit on LJ and I saw the Castle episode last week and so I figured I'd do my usual what would I do with the winnings post.

Lets just post the caveat that the lottery rarely if ever pays off. I mean I doubt i'd ever win. the only reason to play in my opinion is to give some extra cash to schools and other programs I support. Even then don't do it because I frankly don't want to put my discretionary income into that. Lets also understand that most lottery winners are unhappy after a while according to a few psychological studies (we can argue about why) but I'd say its the "I did not really earn this so what does it mean" paradigm.

Also lets set a number here what sort of winnings in the lottery? $500? $5,000? $5Million? I was talking to my brother and he felt i was shooting too low with my estimate of 2million for this exercise so... lets say 50 Million dollars.

First step 'd take is hiring a financial planner and an accountant to help me out here. Paging kylet and confusedoo? and pay them to help me sort it all out and figure out what goes where tax wise and how to accomplish my goals. Make sure all taxes are paid and my contracts handled.

then begins the spending:Read more...Collapse )

So that would be my general plan. I've spent too much time on this heh :)