win $1 million dollars!!!!

Well I would buy a land and build a house.... with a studio.

And I would rent out a building and start a business, hire disability people, hopefully the government will give me tax relief.

And plus I would use some of the money for my surgery on my face,
to look better, hire the best reconstructive surgeon.

Pay off my debts and buy my mom a new car and
give my nephew some money to go to college or whatever
he wants to do, I'll support him.

And give my sister and some family members a job, to work for me.
 
I would just put $1 million dollars in the bank and draw interest from it for the rest of me, my husband and five children's lives. That way, we will always get money. Also, we wud make sure to set some aside for tax and church, as well as to some people that deserves it.
 
all of my 2 houses, 2 property lands, a few veiclles already paid off in a long time ago ....I dont need a lottery or dream come true....

I would like to give 50/50 and invest for my two girls and whatever my girls need some money in their future!

so, i would like to say "wish of luck each of everyone in your future"
 
I'd donate $100,000, because that's 10% for my tithe. :)

I'd buy my boyfriend a bright red dogge viper. fully loaded. :)
I'd pay off my school loans, and his too probably.
buy my parents a new car (or 2!)
buy a house :)
 
Everybody seems to overlook one BIG bite when it comes to winning 1 mil. Its TAXES! Taxes for winning jackpot is somewhere 50 to 60%. depending on state and locality. So, 1 mil is NOT enough! Reason I figured 60 mil to be adequate is because when it comes to winning lottery at 60 mil, and if you want to take one lump sum, it would be around 19 millions then here comes stupid taxes thus will leave me about 8 mil to deal with as my personal desire.

FYI 95% of all lottery winners had their money spent in just 6 months and gone broke! That is one of biggest reason why I am not into lottery. It is just BS.

Peachy Lady said:
I would just put $1 million dollars in the bank and draw interest from it for the rest of me, my husband and five children's lives. That way, we will always get money. Also, we wud make sure to set some aside for tax and church, as well as to some people that deserves it.
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Wow. If I had a million dollars what would I do with it? Hmm... Well, I'd buy a house that was wheelchair accessible, or I'd shell out the money to make it wheelchair accessible. I'd probably set up a college fund for my nephew and neice. Other than that, I have no idea!
 
diehardbiker65 said:
Everybody seems to overlook one BIG bite when it comes to winning 1 mil. Its TAXES! Taxes for winning jackpot is somewhere 50 to 60%. depending on state and locality. So, 1 mil is NOT enough! Reason I figured 60 mil to be adequate is because when it comes to winning lottery at 60 mil, and if you want to take one lump sum, it would be around 19 millions then here comes stupid taxes thus will leave me about 8 mil to deal with as my personal desire.

FYI 95% of all lottery winners had their money spent in just 6 months and gone broke! That is one of biggest reason why I am not into lottery. It is just BS.
Click to expand...

yes true...I really meant put money aside to pay for taxes, then put in bank and draw interest from it. I wouldn't blow it all in six months because the taxes will already be paid for as I set it aside for that purpose. Do you think that's best way to do this, diehardbiker65? In case it's "only" one million dollars that I "won", take away $500,000 for taxes, then draw interest off the rest?
 
Do the math. Most of savings and investment yield about 2.5% APR Notice the APR, that means annual percent rate, divide that into 12 then you wil have the number for each month which is about .002083 then multiply it by 500,000 (half mil), what is the interest income for each month? 1,045. But hey, that is captial gain income, so you have to pay 50% tax on capital gain income, that would end up only 500 dollars a month for yourself. That is not much left!

That is reason why I estimate 60 mil to be comfortable level because you can rollover and over and over to get your winning money grow yet you can get comfortable level of income. The money would grow ahead of inflation.

Peachy Lady said:
yes true...I really meant put money aside to pay for taxes, then put in bank and draw interest from it. I wouldn't blow it all in six months because the taxes will already be paid for as I set it aside for that purpose. Do you think that's best way to do this, diehardbiker65? In case it's "only" one million dollars that I "won", take away $500,000 for taxes, then draw interest off the rest?
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If I won one million dollars, I would.....


1.) Buy a new house

2.) Donate some to children in need.

3.) give some to my family and my children. ;)
 
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