Have you bought your lottery ticket? I actually went to the California Lottery website because I wanted to see which retailers sell winning tickets. I have this theory that people who win the lottery never come from the city of San Francisco or NYC. In fact, no retailer in the whole county of San Francisco has ever sold a winning ticket. Winners come from podunk towns like San Lorenzo. I told my parents to buy me some lottery tickets over there in the East Bay because I know that buying a ticket from a lottery retailer in say, the Financial District is wasted cash!
$540 million. You know what I would do with $250 million (after taxes)?
1. Pay off all my debt.
2. Pay off my immediate family’s debt.
3. Quit my job.
4. Set aside a trust fund to pay for any family member to get educated (private school, college, acting classes, culinary school, voice lessons). I would only pay for the education. I would not pay for dorm rooms, student housing, apartments, living expenses while in grad school. I see this as an incentive so people wouldn’t constantly be in school. At some point, they’d have to become employable!
5. Make charitable donations.
6. Travel around the world, spend as much as possible, and anything left over would go to charity.
7. I do not believe in passing wealth down generations. It makes latter generations complacent and lazy!