Social Question

sandystrachan's avatar

How much would you win , and what would you do with it ?

Asked by sandystrachan (4417points) November 9th, 2009

Say you won money either by Lottery , game show or whatever is available in your area, how much would you win and what would you do with the money .
Don’t be too greedy .

Observing members: 0 Composing members: 0

20 Answers

bagelface's avatar

Why shouldn’t we be too greedy? Put limits on imagination? That’s just silly,...

I’d win a few million (sticking to your rules) and live modestly, basically continue to live how I am living now, only without worrying about doing any of the stuff I only do for money.

Gosh, see how boring that was? You should change the rules, or this thread will be nothing but a yawn fest imo.

sandystrachan's avatar

If you said something like 100 million then thats a silly/ greedy amount but at the same time it is a prize that you could win Everyone’s definition of greedy is different you chose a few million , i didnt say how much is greedy thats down to you and your brain .

bagelface's avatar

Brain, huh? I see,...

bagelface's avatar

My point is that if people are being modest about their winning amount, the rest of their answer is most likely going to be pretty boring. Is the point of this question more for you to see what “not greedy” means to other people?

sandystrachan's avatar

No if i wanted to see what people thought was greedy i would just ask it
The point of asking was to see what people would say and how they would answer .

Mat74UK's avatar

£10million would leave me and the wife comfy for the rest of our lives. Work would be packed in straight away.
I never believe those people that say they would continue to work!

Ame_Evil's avatar

I don’t understand the question at all. But what I think I understand is at what stage would you stop gambling (on lottery or game show or whatever).

Personally, I don’t gamble where the odds are based 100% on luck. I do play online poker however. so I’ll answer this question based on that.

At the moment I am only playing to make as much as I can because I am at the micro limits just to improve my skill (money as a bonus is good too especially as I have no job at the moment). I think it is rather hard to stop, but especially so for poker where if you are playing properly you are supposed to gain a certain amount of money every 100 hands. Although you have confidence in your skill, the luck changes and downswings may be longer than you anticipate.

So based on poker, I would “stop” if I ever sufficiently got into debt. At the moment I paid £10 to start learning and withdrew that ages ago and have just been playing on my profits so I am perfectly fine. I however practice proper bank roll management (in order to minimalise losses) so chances are I would need to tilt incredibly badly or be a right idiot in order to lose all my money. I do not think there is a limit to how high I would go though, so in a sense I would be really greedy. However I would never try to push myself into making loads of profit. When I eventually do move up, I would be happy making mimimum wage per hour playing this and enough to pay rent/debts, gifts for friends and luxuries for me. However more money is always good :p. If I was decent enough to read into the millions I would probably stop at £1million, withdraw all of that and just play with £100,000 as that should support me for life.

filmfann's avatar

I wouldn’t give any money to general charities, like Salvation Army or United Way. I would personally give money to places like the Food Bank, where I know they don’t waste any of the money on management, advertising, and such.
The United Way is one of the worst at doing this.

sandystrachan's avatar

@Ame_Evil Well you said you play poker ( that also is just chance ) so poker is in your area that would be your way of getting the win

Ame_Evil's avatar

@sandystrachan It’s not entirely chance though like the lottery else you would expect a novice at poker to have as much of an advantage as an expert player which is obviously not the case. But yeah chance is a large factor, one that you have to factor in in order to make the proper moves/pushes in order to win as much as you can. So for example if you have AA and the other guy has 72o you will win 88.2% of the time if you both go all in preflop for some bizarre reason. At other times when you are drawing (haven’t got much but are looking for a straight/flush) you need to calculate these odds in order to make the profitable move. Over time, chance is filtered out but over short periods of time variance is an annoying issue.

sandystrachan's avatar

@Ame_Evil But a complete novice could win the game of poker , when playing with pros it’s not unheard of .How else do they become pro

Ame_Evil's avatar

@sandystrachan When talking about winning, I mean winning overall. So a novice could win a single table at poker, but over 100 tables he wouldn’t be able to compete against a pro.

And in order to become pro you have to play thousands and thousands of hands, be able to read opponents, play in position, bluff and a lot more. Most novices don’t understand position, and that is one of their major flaws when playing poker.

aprilsimnel's avatar

In my state one could win up to $400mm in the main lottery at times. Half of that goes to taxes, and I’d take it upfront, so that could be as much as $200mm for me! So long, USA, and hello, London!

Capt_Bloth's avatar

I would move to Wisconsin and buy a farm and a boat. I’d grow veggies for myself, and spend all my free time floating down the Mississippi.

ShanEnri's avatar

Well lets see…I’d win about 5 million. I would buy those things that are needed the most like a new car. Maybe a piece of land to put the home we have now on. I would put about 500,000 in 2 savings accounts to go to my kids college or life whatever they choose to do. And last but should have been first, books!

dalepetrie's avatar

I don’t think it’s silly to restrict it at all because you can still give a good answer even with restricting the fantasy. Honestly, I look at it this way. I have about $275k in debt I’d like to get rid of. I’d like to have $125k put away for my son’s college. I’d like to put 100k into repairs into this house. That’s ½ a million. If I did that, eventually I’d probably like a different house that would cost about $500k more than mine would, so that’s a million. I’d like to ensure that if the impossible happened and my wife and I both lived to be 100 years old, we could live in comfort until then. My definition of “as much money as I would be able to spend without being greedy” would be about 250k a year for 60 years. So, I’m up to $16 million. I’d like to have some cushion if for no other reason than I’m going to have to maintain my own health insurance, which can be expensive for a diabetic., and be able to give some money to friends, family and parents, bump that up 9 million to make an even $25 million. Double that because half would go to taxes. Bam, $50 million is my answer, it would give me way more than I would ever need, but wouldn’t make me so ridiculously wealthy that I’d be having 7 vacation homes, a fleet of private jets and a mansion of toadying manservants. I’d be able to live well and debt free, and I’d be able to spend money on things like a personal trainer and a nutritionist to improve my health so maybe I would live to be 100. I’d have the toys and fun things I’d want, I’d be able to travel, I’d have freedom from working for a living, but could volunteer my time however I wanted, I could be generous, I could support charities I believe in, I could leave my son well equipped to meet the world head on, I could finally write that book and when there was something I didn’t know how to do, I could pay someone who needs the money to do it…that would be perfect, that would be more than enough to meet any eventuality and to give me the tools to seek happiness and fulfillment. Now, tell me how to do it.

JLeslie's avatar

$10million sounds good to me. I would sell my house (want to anyway, but I would be willing to lose a little on it if I just won the lottery). I would buy land and build a karting track business for my husband. He would most likely continue to work for a while to transition the company responsibly and he is eligible to be vested for his pension about 8 months from now, so we would not walk away from that. I would buy a condo in FL (which I might do anyway). My husband would buy another car, actually probably two if I won today. I want to travel, maybe take a cruise or two? Or, just live for a month or so in Europe. Once the karting track was built and running, if it were successful, I would build my fantasy home on the land. so we could live and work on the same property. I would also want a large vegetable garden. Our hope would be his parents would come and live with us, to provide an easier life for them.

3 years out we would be running the track, developing it into a club with a resort size pool, tennis courts, gym, and large party room for events. Plus, cottages for people to spend the weekends/vacation. We would close Jan and Feb to travel.

Supacase's avatar

Ideally, several million. A lot. I would pay off everything for my parents, grandparents and inlaws. I would give them enough to live comfortably for the rest of their lives. Get out of this house and into a roomy yet reasonable home (about 3500 sq ft), hire a full time housekeeper and buy new cars. I would save enough for a comfortable retirement, my daughter’s college and enough to make her comfortable during her lifetime. I am thinking 5–10 million for that. Anything above that, I would donate to charities I feel strongly about – and I’m ok with that being several million.

Realistically, I would be delighted with $100k. Beyond delighted with $200k and darn happy with $50k. Priority items would be paying off bills, helping my parents, paying daughter’s tuition, getting out of this house (even if taking a slight loss), saving for retirement. How far I get on the list depends on how much I win.

mattbrowne's avatar

I win money every week. For the past 35 years since I first got some small amount of money from my parents. And later when I first earned my own money I kept the very same sure-fire system. I’m serious. My system is very simple and I use the mathematical theory of probabilities. And every week from the money I win I set aside some of it. Banks do offer reasonable almost risk-free investment vehicles. This is how my system works: I don’t play the lottery and save the money I would have spent on buying lottery tickets. What to do with it? I want my kids to have a good education. They go to college. I like to buy books and the occasional travel. Donations are also a good idea. I support a school in rural India for example. Do I need one million dollars on top of what I already have? I don’t think so.

Zyx's avatar

Pics or it didn’t happen.

I’d win half a billion dollars and I would build a city. I would get musicians to do the construction and when they’re done they can finally make up for the sins of Bernie Taupin, Martin Page, Dennis Lambert and Peter Wolf. Built a city my ass.

I might win way more and go to Mars on a nuclear candle though.

Answer this question

Login

or

Join

to answer.
Your answer will be saved while you login or join.

Have a question? Ask Fluther!

What do you know more about?
or
Knowledge Networking @ Fluther