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9/18/07

What to do if You Win the Lottery

I usually write articles that are more serious in tone, however, sometimes it is fun to write an article on something that will happen to such a small fraction of the population. Let us imagine that you won the lottery. I am not talking about the free lotto card you get from the scratch cards you buy at the supermarket. I am talking about the record breaking hundreds of millions of dollars that makes headlines news and turns you into an instant celebrity. What would you do with all that money?

Traditional advice would be to buy a house, put money away for your kid’s education (if you have kids), start a family (if you do not have kids), buy a car, go on vacation, etc. This is all great and dandy, however, none of that stuff is imaginative enough to encompass the amount of money that you have won. Everything on that list can be done if you make $75,000 per year. Why would anything change if you suddenly won $200 million?

Let us think outside the box. Here are some suggestions on how to spend your winnings. For a mere $100 million you could make history as one of the first people on Earth to take a commercial trip to the moon. Forget Hawaii, the Bahamas, or any other “exotic” location. Take a trip to the moon and be remembered forever!

Why buy a home when you can buy an island?! Fifteen minutes off the coast of Dubai, The World islands exist. Starting at $6.85 million for an island, you could have a piece of property (no home or improvement on it) in some of the most beautiful waters on Earth. Buy the island, build a home, and relax.

There were rumors of FSN putting on a $10 million buy-in poker tournament. It was going to be a $60 million winner-take-all tournament. If you are into the poker phenomenon and think you have what it takes, grab a chair, and your checkbook, and post your blind! It is only $10 million, who cares if you lose!

Alright, alright, you can buy a car. But why waste your time on a $100,000 dollar BMW or Mercedes. Why even look at a $1 million Bugatti, Ferrari, or Lamborghini? If you won the lottery, go all out and get yourself the $8 million Maybach. Cruise in style in this beautiful piece of machinery.

Last, how about some wine? Now, $160,000 is not much money if you just won $200 million, however paying $160,000 for a 1787 Chateau Lafite, Bordeaux is pretty rich considering the bottle could be drunk (along with the $160,000) in a matter of hours. If wine is not your game, how about a 60 year old Macallan Scotch for $38,000? At least the scotch will last longer than the wine!

Now that you have some ideas about what to do with your lottery winnings, what are you waiting for? Go out and test the limits of your checkbook!


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