I would love to win the mega millions lottery. My life would change completely. But the funny thing is, is that when I think about it, I don’t dream about traveling around the world, buying 50 different cars, and going to the Super Bowl every year, I think about how to position the money for myself, my friends and my family.
I think of all the different trust funds that I would set up for my family so that they could lead a better life. What specific fund for which specific relative and how they would be structured so that the inheritance flows correctly to who it should. And for my friends, how they could benefit from funds paying x percentage to them a year so that they could take awesome vacations, buy bigger houses, not have to worry about their kids college funds, retire early, shit like that.
I think they say that most people who win the lottery are broke 5 years later. Well I would set it up so that neither I nor anyone I gave money to would be. It’s funny, so many people win and they just give a million dollars to there best friend, but they don’t realize that that friend will most likely blow through that money in a few years, and be back asking for more later. That’s why you need to have a plan for if you ever win. Of course, now that I have a plan, I never will win, but it’s fun to think about.
Everyone I know who plays the lottery, dreams about winning it. Like the ads used to say, All it takes is a dollar and a dream.
It’s so different from betting sports. Say I bet $1,000 on the Super Bowl and I won, I win a $1,000. It’s a lot of money and sure, I would pick a some bar tabs, but it really can’t change my life or the lives of the people around me. Even if I hit a 8 games parlay for a few hundred grand, it might change my life, but not my friends.
But now, if I won $95 Million in the mega millions lottery, all the people that I’m closest with would benefit. People would get out of debt, pay off their mortgages or maybe even stop paying rent and buy a place. I would structure friends payouts so that they would get about $100k a year. This way they could live their lives with more freedom. They would be able to work for less money if they wanted, or take years off from working. They would be able to take great vacations and go the Super Bowl every year (Trust me, we would be there). They would be able to save for an retire early. And even if they always blew their checks as soon as they got them, there would be another one coming then next month so that they would never be broke and have to come to me for money.
I’m telling you, if you ever win the lottery, trust funds are the way to go. I’d even create one for myself so that I would know that I would never be broke. Even if I lost my mind and decided to give everything I own to some cult. I would still get a check the next month, and be able to live a good lifestyle.
Well, that’s the basics of my plans for if I win the lottery. Hopefully 1 day it’ll happen. If not, I always have sports betting to fall back on ;O)
