If you won the biggest lottery in the country at $50 million, what would you do with the money ?

Question

What would you do with $50 Million ?

Answer 1

There have been much bigger lotteries in this country .. but I will play along. I would buy an island, and oil paint everyday. Then I would go on hiking trips to Machu Picchu, hike the Southern Alps in New Zealand, run a little cafe and live in a shack in New Foundland ... teach children to read in Nepal, and continue my work with equal rights organizations.

Answer 2

Firstly, I live in Canada. When we win $50 million, we actually get to keep it ALL! Lottery winnings are NOT taxed. Secondly, I would NOT claim the prize right away. I would contact some VERY trusted professionals about advice BEFORE I made myself public. Thirdly, I would divide my monies into three categories. Invest, Give, and Spend. Never again would I want to have to work 'for the money'. My investments would assure that. However, after all of your purchases are paid for, you don't need that much a year to live on. My residual income would be twice what my needs would be. I would establish a "spend" fund, and not stop 'till it was all gone! I'd have more fun than I've ever been able to have just 'buying' versus 'shopping'. I would then give away the remainder, but ONLY to people I knew BEFORE I won. If we met after my winnings, good luck! That's not a NO, but it won't come easy for you. Sick Kids Hospital gets $1 Million. I have always dreamed of cutting them a cheque for that amount! Then, every single friend I have will be completely debt free. From phone bills to mortgages, I would take the yoke of slavery off of all of my friends. If you've treated me well in the past, I'd get even. :-)

Answer 3

Use it to buy things?

No, but seriously if I did I will set up a trust fund. And give away 50% of the bank interest every year to the really poor (not the lazy ones). The remaining 50% will be used to maintain the face value of the fund and fend against inflation.

Nobody will be allowed to touch the principal sum. That way, the money will always be there and the poor will always be helped even after I pass on.




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Answer 4

I don't know which country you're in, but in America, the lottery can go as high as 300+ million dollars. Anyway, to answer your question: I would pay off my brother's student loans, my debt, my Mom's debt. I would buy her a house and I would move to NYC (my favorite place), I would help my Mom open the animal shelter she wants to open for abandoned cats, I'd focus on my fledgling writing career, I would donate money to helping the huge refugee problem in Iraq, Afghanistan and Darfur. I 've also always wanted to do something for the homeless; maybe create a foundation that helps them find apartments and work and helps them move back into society. I would also want to do more for the environment and helping the working poor pay their bills.

Answer 5

I'd use it doing things that made me and the people I came in contact with happy. Having never had much money, I wouldn't waste my precious time figuring out the best financial products and plans. Or deciding who I could trust or who was the more deserving of a loan. I would be blissfully stupid about the whole 50mil. Pretty much the way I am now, Which is why I'll probably never see it.

Answer 6

I would:

- Help all of the people I care about, even the ones I don't like anymore.

- Create a charitable foundation.

- Buy an island, and invite my friends to live there.

- Have a house built to suit my needs (I've always lived in apartments).

- Indulge in every hobby that interested me, such glass blowing, pottery, painting, sculpture, etc.

Answer 7

Spend it for self, friends, relatives, neighbours, society, country and poor citizens of the world. Prioritise for everything in a systematic way. Don't forget the truth that we were born penny less and will die penny less, sooner or later. It is the satisfaction and enjoyment, which goes with your soul when your body goes into the graveyard.

Answer 8

I would give $25,000,000. to Able India, a world charity whose aim is to eradicate Blindness and Leprosy. Able has a number of world charities.

With the other $25M, I would make sure that my family was well taken care of, and I would donate 2M to BC Children's Hospital. The balance, I would buy myself a nice little cabin just far enough away that I could get to the city if I needed to, but it couldn't get to me. lol I'd make sure my car was totally fixed up. I'd probably travel a little too. :o))

Answer 9

pay my debts, loans and then help my family, keep some and give some.. how much, i don't know, but i will definitely do what i wanted to all my life, if i had the money, see for myself the 7 wonders of the world, some of which are no longer in the list...

Answer 10

Fly to Africa and make some hospitals, schools, shelters and homes before anything else. The exchange rate will really be beneficial in that case. Moreover I would also like to make a school or two in South Asia... after that I can buy myself a nice cozy place and a swanky car.