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Posts Tagged ‘lottery’

I’m toying with a new idea on my blog.  I think it sounds fun, but it requires reader participation and I’m not sure there would be enough participation to get it off the ground.  I thought it would be fun to have readers sumbit questions, and let my girls (12 and 10) answer them.  Maybe it’s just cool to me, yanno because I’m mom and stuff.  *Sigh* that will just have to sit on the back burner for a bit.

Something else has crossed my mind.  I’ve heard several people say “Winning a million dollars in the lottery would totally change my life.” You know, quit my job, pay off my house, buy a car, travel, blah blah blah.  I’m here to tell you winning the lottery isn’t all everyone dreams it will be.  I mean, I’m sure if the jackpot was big enough then yeah, life would be mucho better.  But like Dr. Phil said (Shut it, I only llistened once.) Money doesn’t solve money problems, lifestyle changes solve money problems.

B’s parents won the lottery 11 years ago.  Multiple millions (read more than 1 less than 10)  paid out over 20 years.  I always wondered about the behind the scenes lives of lottery winners.  Multiple millions sounds like the perfect quit-you-job-live-on-a-permanent-vacation kind of life.  I always thought it was, until I came face to face with litterally a millionaire.

They took the 20 year payout option.  That guaranteed them a set amount income for the next 20 years.  At their age, that’s a good thing, a comforting thought.  So, once a  year, they geta  check from the lottery commision for 1 year’s payment.  Minus taxes.  They have to take that lump sum and budget it for a full year of car payments, utilities, insurance, living expenses, state and federal income taxes (because they NEVER take enough) because once that money is gone there will not be another payment until the next year.  So if you go out and buy your heart’s desire and blow all that money, well, you had better have a job to get you through the other 11 months till the next check is sent.

Don’t even get me started on the tax nightmare it is.  In your budget you had better set aside a good portion to retain an attorney and an accountant. You will need both. Just to get through the months of December, January, February, March and April.

Now, it’s not to say that life as a millionaire sucks, even a single million dollar millionaire.  There are perks involved.  With the lottery money, B’s mom lives in a house big enough for her kids and grandkids to come stay for a weekend.  She has an in ground pool in her back yard for the grandkids.  She drives a BMW that we all can fit in.  She doesn’t have to work.  She is able to buy what she wants or needs within reason.  All of her jewelry is solid gold, read diamonds, and one of a kind. But she also buys some of her clothes at Target.  She has Italian shoes, bhe she also has Payless heels.

The really cool thing about Brian’s mom (and dad before he died) is that at one point in their life they had $200 to their name with a house payment and groceries to cover.  They’ve struggled.  But with the lottery money, it didn’t change who they were.  They didn’t snub their noses at friends who were still struggling.  Their house, while big, is warm and inviting and truly a home.  A home to 4 dogs, 4 grandkids and 3 adults.

Sure life with a million dollars (or more) sounds like easy street.  It definately is ‘easier’ street.  So what would I do with a million dollars?  Give to someone to invest, and go to work the next day.