Bloganuary writing prompt

What would you do if you won the lottery?

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We have all played this game, right? I mean all of us who live somewhere that holds money in high esteem, of course. 

You hit a big lottery, what do you do with the winnings? Before my wife found her calling as a software engineering genius she was an accountant. My father was an accountant too. My brother is a CPA. Why are these things important? Because all of us would work together to come up with a plan for dealing with the money that would not involve blowing it all in the first few years the way a lot of big lottery winners do. 

Here are a few things we would do……

• Pay off any outstanding loans including student loans, cars, and the mortgage
• Upgrades to the house and the cars and the general living situation
• Figure out a way to use the money to generate an income, either through an endowment or a trust or something that will let us live as well as we can off of just interest. 
• Make sure my step kids are set financially including a home and some sort of endowment or trust fund so that they are in a position where they won’t have to worry about money ever again
• Make contributions to our extended family. Our parents and my brother and sister would get a chunk of the winnings to do with as they pleased, but the reasoning on our end would be for mortgages and college funds and healthcare and such. It’s doubtful we could set any of them up for life, but we can help as much as we can
• Make similar contributions to a few close friends. Again, mortgage and college funds being the hope, but it will be their money to do with as they please. The trick would be figuring out how many friends we can help. It probably won’t be many, but we will do what we can
• Research the hell out of charitable foundations and establish relationships with organizations working toward some of the things that are important to us. Diabetes research, cancer research, dementia research. Things like that. Find organizations that are doing good work and not screwing over their donors or their targets and donate as much as we can to them
• Buy a 1959 Gibson Les Paul Standard

That’s the gist of it. I’m sure if we did hit a honkin’ big lottery we would make significant changes to the plan based on the amounts in question and the general situation as it stands in the moment, but this feels like a good plan to start with at least.