Well, if *I* won the lottery... (1 Viewer)

[Mark Shannon]

That's what I love about Canada...no lottery tax... $5M won is $5M in the bank... what to do, what to do?

-I'd take Jared's lead and give 50% to a financial advisor

-Buy a reasonable high end car

-pay off all my bills in advance

-expand on my house, and possibly buy my neighbours house (more room for a better HT)

-give some spending money to close friends

 

[Mark Fitzsimmons]

I'd change my major to finance.

 

[Moe Maishlish]

That's what I love about Canada...no lottery tax... $5M won is $5M in the bank... what to do, what to do?

Yes, now if only I could exercise that priviledge and WIN something!

(Mind you, at this point I'd rather like to see our mortgages be tax-deductible like they are in the U.S., but at least when we win the lottery we don't need to pay taxes on the cash)

Moe.

 

[brentl]

5 million Canadian EH!!

Fix my teeth, eyes, and waistline. When your rich why not be vain??!!

2500SQ foot bungalow with 9 foot ceilings INCLUDING the basement, 12by20 office, 15by25 bedroom with couch an small theater(50",Paradigm20s,SVS2039ETC), 12by20 second bedroom (with loveseat, Energy take5.1, ETC), 24by40 kitchen with a sitting area and small dining area vaulted ceiling 12-15 feet high. A couple 4 or 5 piece bathrooms, walk-in closets ETC... on 2-3 acres

Total furnished $800 000

CARS;

2003 Civic coupe .... probably give it to my niece in a year!
2004 WRX .... for fun, who needs the Sti for another $15gs
2004 Infiniti 4 door ... G35?
2004 Acura MDX
2004 Mazda Miata ... need a droptoP!

Total $240 000 including stereo upgrades

GIFTS;

Mom and Dad ... 56 Tbird(they owned one), get my mom a new coupe(Accord v-6 probably) plus $150 000 for them.

Total gift $210 000

Sister 1: 2 kids get $5000 a year for 10 years when they hit 21 or divided up to pay for education when needed. Sister gets condo paid for($100 000)

Total gift $200 000

Sister 2: 1 kid gets $70 000 over 10 years or educational expense. house paid off(130 000(

total gift $200 000

Best friend would get a Corvette z-o6, his dream car!
other ASST friends and family would get between $2000 and $20 000 each

Total gift $200 000

$100 000 to the Canadian Cancer society
$100 000 to my town towards a theater!! Could get the asses moving!!!!

NOW THE BIGGIE !!!!!

A concert for me and my friends by Billy Joel !!!!! Maybe a FEW other guests(100-200) @ $50 a head, ALL to charity.

90 minutes, Around $400 000 I'd guess!!

THAT'S IT FOR NOW !!!

TOTAL ... around 2.5 Million

That leaves me a LOT to play with. Max out RRSPs every year ETC.

Brent
P.s. the basement would house the theater!!

 

[Scott L]

you just won $5,000,000, what would you do with it?

1) Rent 5,000,000 movies and turn em in a day late.

2) Solid gold house

3) Rocket car

4) Eat it

But more realistically:

- Nissan Skyline, a couple of old-school American muscle cars

- modest house with custom HT

- invest?



Invest!!!

 

[ThomasC]

- invest? Invest!!!

Returns are fixed at 10%. You must agree, that's excellent.

 

[Todd Hochard]

Can you live on $75k/yr (before taxes)?

I live comfortably on less than that now. If you can't in the US, you're living in the wrong city.

Todd

 

[JamieD]

Beyond buying a house with a HT..

Ignoring myself, I would give a fair bit to some parents/aunts/uncles I have who could use it to help out, i.e. ask them "What's one major project or thing you've needed, but couldn't afford?"

I'd also pay off the student debt of my 10 or so closest friends, more than likely, which would still probably be around 250K. It's a big chunk of change, but I think it'd be worth it. Hell, even if I only paid off half, it'd make a huge difference to them.

 

[Alex Spindler]

Pay off my debt, shave my head, and wander the old west solving crimes and righting injustice.

 

[David Susilo]

In Canada, you'll get 100% what you've won. No tax on it either.

Then I'll built an $800k custom home, spend about $1 million to buy treed lot and only cut the area needed for the house, spend another half million for furnitures, cars, and a month vacation to Australia.

Save the rest and only use the interest for daily expenses.

Oh and I'll keep my job too.

 

[KerryK]

I'd buy an on the mountain condo at Lake Tahoe (or maybe Whistler) and fly my friends and family down for a week of skiing/partying. I'd probably keep my apartment in Toronto but I'd quit my job and volunteer part time. (During the non-ski season!)

I'd also buy a new computer, new road bike and new skis.

And I'd set up college funds for my nephews and a house for my parents for when they retire.

 

[Win Joy Jr]

I would faithfully re-recreate the entire night from Bachelor Party, Waldorf Astoria, Ghandi pimp, (this being) Milt, donkey show, school bus, tricked out porsche, etc.

Heck, I'd probably still have enough to actually hire Adrien Zmed.

You probably have enough to hire him in your pocket right now...

 

[brentl]

 

[Scott Van Dyke]

I'd hire Cake to come play for me and some friends. Other than that, everyone else can kiss my ass.

Just kidding, I'm impressed with how much everyone would help out family and friends. I'd do much the same things as most, except for the Mazda Miatta. I'm 6'7".:frowning:

Perhaps a '61 Caddie rag-top. Perhaps I could be in a rap video?

 

[MarkHastings]

If you can't in the US, you're living in the wrong city

I work near an area of CT that has more money than Beverly Hills. Trust me, it's quite hard to survive around here on $75/year.

Not that $75k/year is totally crap, but without a job, I'd find myself spending that cash a lot quicker with all the free time I had to spend it. It's kind of an oxy moron...All that "free" time would be quite draining on you bank account

But add that $75k/year to my currently salary and now we're talking about something a little more secure.

 

[Ted Lee]

hmm...after taxes, etc, i guess just under 2million in hand?

the absolute first thing i would do is buy my porsche 911. (i've always promised myself that...)

home: nice one around here probably costs about 500k
cars: after my 911, maybe a reasonable suv. i'd still keep my 94 accord too.
investment: the majority of the rest would go towards investing and retirement. i'd make sure i couldn't touch it for several years.
work: i'd probably still get some sort of part-time job. i couldn't stand staying home all day with nothing to do.
clothing: i'd still shop at old navy. i hate getting dressed up.
ht: it would be one sick and stupid setup!
family: i'd help them out, but with only 1.5m i'm not sure how much i'd be able to do. but i'd do what i could.

more than anything else, i'd make sure i don't incur new debt. i'd pay cash for the home and car. the worst thing that could happen is you go broke after a few years.

 

[Mick Wright]

I just did an anti-lottery speech a couple of days ago, citing the work of Fred M. Hoppe Phd. It's worth a read if any of you really believe you can win.

There are a total of 13,983,816 different groups of six numbers which could be drawn from the set {1, 2, ... , 49}. To see this we observe that there are 49 possibilities for the first number drawn, following which there are 48 possibilities for the second number, 47 for the third, 46 for the fourth, 45 for the fifth, and 44 for the sixth. If we multiply the numbers 49 x 48 x 47 x 46 x 45 x 44 we get 10,068,347,520. However, each possible group of six numbers (combination) can be drawn in different ways depending on which number in the group was drawn first, which was drawn second, and so on. There are 6 choices for the first, 5 for the second, 4 for the third, 3 for the fourth, 2 for the fifth, and 1 for the sixth. Multiply these numbers out to arrive at 6 x 5 x 4 x 3 x 2 x 1 = 720. We then need to divide 10,068,347,520 by 720 to arrive at the figure 13,983,816 as the number of different groups of six numbers (different picks). Since all numbers are assumed to be equally likely and since the probability of some number being drawn must be one, it follows that each pick of six numbers has a probability of 1/13,983,816 = 0.00000007151. This is roughly the same probability as obtaining 24 heads in succession when flipping a fair coin!

Sorry to inject reality into into a fun thread.

 

[Ted Lee]

boy, i'm in a confrontational mood today....

It's worth a read if any of you really believe you can win.

people win everytime, so it is possible. that's the whole thing about the lottery - beating nearly insurmountable odds.

anyway, i forgot to add that i'd buy myself a nice rice-rocket, then never ride it for fear of crashing and not being able to enjoy my newfound wealth.

 

[Scott L]

Well the whole thing about the lottery to me is a $1 ticket could be worth millions of dollars. The odds thing never appealed to me, which is probably why I don't participate in it. :wink:

 

[Ryan_C]

I can play this game too! Although since I am single and 27, my views may differ slightly!

First, pay off all my bills and my parents bills.
Buy them a bigger house to retire in and make them retire.
Buy me a decent sized house for tax-write off purposes (5/4 bedroom/3 bath/3 car garage, lot of land ~ 500K)
Invest the remaining 90%.
With the 10% left, buy a kick ass HT projection system with a dedicated room and furnish my house.
Buy a Dinan BMW M5 for my daily driver.
Buy a 66 Shelby Mustang.
Buy a 69 Yenko Camaro.
I would probably buy more muscle cars as my income from the ivested 90% came in. There's a long list of them I would want.:wink: