Monday, April 14, 2014

Lottery Winnings

Recently, someone in my office asked me what I would do if I won the lottery. So I guess, since everyone and everyone's office is entering into a lottery pool, why not make a few questions out of this.

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You just won $1,000,000.

Here's what I would do if I won, say, $1,000,000. This is from the perspective of a Dink (dual income no kids) couple. After taxes, we'd get approx $650,000 in our bank accounts.

How would we spend it?
1. Tithe. We tithe 10% of all money we gross (money before taxes), so we'd give 65,000 to our church. We would then set aside a portion for Tom's ministry and any other organizations doing God's work.

2. Pay off debt.

4. Invest/emergency fund.

5. Buy a house. Probably upstate in the Lower Hudson Valley area, or maybe NJ. Tom and I both have a crush on Rutherford NJ, where we get our car rentals.

5.5 If we decide to stay in the city, we'd most likely go in with Tom's parents and buy a multi-unit apartment building. Move Tom's grandma and aunt in, and then my parents to the city when they retire. Rent any remaining units.

6. If we don't have kids at this point, start having them. If that's not happening, either foster or adopt.

Would you tell people? We'd kind of have to, right? Sort of hard to hide it. Definitely wouldn't put it on Facebook. Or here, for that matter. Actually, we would probably only tell those we're very close with.

Would I give to friends and family? If you were in our lives within the 6 months prior, maybe. But they shouldn't expect us to pay off any outstanding debt, or buy them a car. If they needed groceries, we'd be happy to help, or get them through hard times. God is in control and all situations should be used for his glory. Bad times and good times. all for us to learn his will comes before our own. We'd sponsor God's will, not man's.

How would you spend your lottery winnings? 
Would you tell the world, or keep it quiet?

This post was brought to you by the A-Z Challenge, and the letter:


  1. This is easy~travel around the world ( need for luxury) and invest the rest to be able to travel at will and live comfortably. :-) Fun question! Happy Monday!

  2. I would definitely keep my mouth shut about my winnings as much as possible. I imagine we would move or have a house built on lots of open land. Maybe even get a few animals! We'd invest wisely and help our family out. It's nice to dream, isn't it? ;)

    1. Sure is! My country roots call to me daily, I can imagine the relief of escaping to the countryside and starting a small homestead.

  3. Remain anonymous. I love your list Farin, so sharing and caring and generous!

    1. I actually would expect to be called stingy with my last paragraph- but what we would get would've been a gift from God to begin with. We'd just be returning the first part back to him.

  4. I would buy a new house and save the rest, pay off debt. It's nice yo think about but I should get out of dream land.

  5. That's a great list. I definitely would keep quiet about the winnings. From a security standpoint, it's the smartest thing to do, otherwise you're more likely to end up the target of scams and robberies. Honestly, I could probably sink all that money into my house pretty quick. Deck out back, swing set for the kids, renovation of a living space, extra bedroom over the garage, turn the garage back into a garage, replacing carpets, replace that ugly green paneling on the downstairs walls, restore the fireplace... yeah. Maybe I'd just build a new house to my specifications...

    1. I remember watching a documentary about a homeless man who was given 1million and then blew it all. One year later he was living under the same bridge they found him in when they handed him the check.

      Guess he should've found a house first thing. He was buying Lamborghinis for his friends at the local deli, if I recall.


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