During all the commotion of the record amount of the Power ball lottery everyone everywhere was discussing what they would do with the 1.6 billion dollars. That includes me, and all I could was think about was what all that money could buy me! I am sure I wasn't the only one buying lottery tickets in this class. One evening while watching the news a segment caught my eye. The news anchors were discussing how many of the past lottery winners went bankrupt. I just could not figure out how someone could just lose all that money. It seems like 1 billion dollars or even a million dollars could not disappear but several winners found out it can be gone before you know it fortune-lotterywinnersgobroke This link discusses just how many people have done it. I would like to think I could be smart enough to avoid losing the huge amounts of money you could win playing the lottery. So many key factors play into having that much money, and it would be much tougher to manage it than you would think. We all have those certain people we would give money to if we won like our parents, close family, and close friends. You would have more friends than you would have ever thought you would if you had that much money, and more people than you know would be asking for money. I would definitely try to be gracious and share with people that have been good people to me. I would also give to multiple charities. Even after all the money you would give away you should still have plenty left right? Don't forget about taxes which would take about half of your winnings away. We would all go buy nice cars, a house, and everything we ever wanted. I thought it would have to be hard to spend all that money, but it seems it would be pretty easy. I know if I won the lottery I would invest a good amount of it. My goal would be to keep as much as I could. Of course I would have a financial advisor because there is no way I could control all of that money at 19 years old. My life dream is to have a big farm and a lot of land. That would be the first thing I would buy if I was to win! I honestly would probably quit school and work on my farm everyday. That doesn't sound like the smartest thing to do, but oh well. The reality is the odds are stacked against us of winning the lottery but we can dream right? We better stick to college and try to make something out of ourselves cause winning the lottery just isn't gonna happen. You never know what could happen though.
My question for you are:
What would you do with all the money if you won the lottery?
Do you think you would go bankrupt or do you think you could handle all that money?
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ReplyDeleteIf I had won the lottery I would give some to my family . Only because they helped me in so many ways so it would be only right to give the, some money as well. I would also give to Charities, because it's nothing wrong with giving money to help a cause or you never know how much money can help better someone's life. I honestly believe I wouldn't go bankrupt. I would use the money to start my career or finish my school. I told myself if I was to win the lottery I would never lose sight of what I wanted to do, because money does go away after a while, and when its all gone you have nothing to fall back on if you just depended on the lottery money
ReplyDeleteIf I had won the lottery I would definitely help my family out and finish paying off my school tuition. I would give some to charities but I wouldn't tell anyone that I actually won the lottery. I feel that if I don't budget my money correctly and spend it on everything I want then yes the money will go by fast. I would have the mentality that I always have enough money to go back too. But if I remember that money can go faster than it comes then and use on the things that are important then I believe that I can handle it.
ReplyDeleteIf I was to win the lottery, I would give money to my family that I believe who was always there for me. I definitely would pay off my student loans but will continue to stay in school and earn my career. One of the first things I would do would be to get some type of accountant or someone to assist me with budgeting and handling all of this money. I honestly don't believe I would go bankrupt after winning a large sum of money because I would definitely invest my money into something that will also make money so there would be a consistent income.
ReplyDeleteIf I was to win the lottery, I would give money to my family that I believe who was always there for me. I definitely would pay off my student loans but will continue to stay in school and earn my career. One of the first things I would do would be to get some type of accountant or someone to assist me with budgeting and handling all of this money. I honestly don't believe I would go bankrupt after winning a large sum of money because I would definitely invest my money into something that will also make money so there would be a consistent income.
ReplyDeleteI feel as though if I won the lottery, I wouldn't go bankrupt. I do know that the majority of it would go into clothes and shoes then distribute the rest between my mother, my sister and my grandmother. Reason being, I know they've always had my back with whatever decisions I have chosen. If I had money left I would put it in a college fund or a trust for my nephew. I would also continue to attend school just so I can say I earned my money. I've always been independent that way, and I hope someday that it will all pay off.
ReplyDeleteIf I won the lottery I would first spend the first week feeding myself to the best foods across the nation. I would then split the money into different savings accounts and lay low as I live very modestly and slowly use the money over the course of the rest of my life. If I were to give anyone money I would do it via birthdays or holidays. I believe that it is useless to give someone more than 500 dollars because they will probably waste it. I would much rather take care of paying for their rent or paying for utilities. I think I would need an adviser to tell me how much I could use the money before I am detected by others. I would most likely not be bankrupt as I would discover how others had and would not buy things in advance, I would wait till I had the money.
ReplyDeleteIf I won the lotterey for 1.6 billion the first thing I would do is give money to my church and pay what I need to. Second I would make sure my family is set for life but saving and investing into them. I would start my own business with my lounge. I would pay to attend college and for someone others to attend college. I would create my own liquor and do investing for myself. I would save money for my kids and their kids. I would take my whole family on vacation to wherever they want to go. I would also donate and do community service. I would build homes for the homeless and get them set up by getting a job or expressing talents to create income for themselves. I do not think I would go bankrupt but I will need to hire an accountant to keep up with my expenses.
ReplyDeleteIf I were to win the lottery, I would want to do so much! I've told myself since I was in elementary school, that if WHEN I become rich, I will give back to my mom, my dad and the people of Africa. Its been a dream of mine to help them out. When you think about it, back when we were all young, $1 seemed like so much. But now, here we are as adults and you cant even do anything with $1000. As far as going bankrupt, no. I feel that I'd be able to handle the money, but it is easy to spend money fast.
ReplyDeleteIf I won tons of money from winning the lottery, I would not go bankrupt. I will save a lot of what I received and also keep a job to keep the money flow. I will keep my originals goals to finish school and pursue my career, like I have never won anything. I will use the money that I'm not saving on more of the important things, like helping my mom because she has always been there for me and things I need to pay, like bills and utilities. The money I would have won would be more of an emergency money than splurging money.
ReplyDeleteIf I won the lottery, I would make sure my parents were set. Then I would most definitely pay A&T their money so I can stop receiving those bill statements. I wouldn't go bankrupt. I'm very good with managing money.
ReplyDeleteIf I won the lottery, I would at least complete my undergrad years of college first. I just feel like it's too rare now to live basically off of luck. I love to splurge but I am very smart with my money. I still get allowance from my parents so I can buy things for my own personal needs and when I get to that last $20, I can make it stretch for 2 weeks if I needed to lol so I don't think I would go bankrupt especially not with that huge amount of money.
ReplyDeleteI would certainly not go bankrupt if I won the lottery! First of all, I wouldn't tell ANYONE I won except my mother (and other close family). The next thing I would do is hire myself a financial advisor to help make smart money decisions. Next, I would pay off all my schooling. After that, the possibilities are endless!
ReplyDeleteI would really try my best not to go bankrupt if I won the lottery! First off I wouldnt go and spend all of that money fast and on really dumb things. Of course I would spend some of it on unnecessary stuff, but I would also try to invest some of that money to try to make more money !
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