I just won the lottery, how should i spend my money?

Question

I just won the lottery, how should i spend my money?

Answer 1

save some, invest some and take a couple weeks off where clothes are optional, the drinks are tropical and sand gets in your shoes :)

Answer 2

don't believe you.

Answer 3

That depends on how much yu won. If its a big amount yu can  spent lavishly which again depends on yur family status(poor or rich or middleclass), if its small then talk yur parent.

Answer 4

send it to bill gates

Answer 5

Go back to school (or if you're already attending, stay in school) and live modestly until you learn enough about yourself and the world to know how you should spend your fortune wisely.

Going back to school is also what Steve Wozniak did when he got rich (at least as rich as a big lottery winner), and now he is quite happy spending his money on causes that he cares about deeply. He was so famous when he went back to school that he had to use a pseudonym to avoid non-stop publicity.

Answer 6

by not spending it; but investing it instead. unless ur old and dont have much longer to live; then spend it and write any surplus in you will to give to poor people

Answer 7

A 100 foot yacht, Gulfstream jet, homes in New York, London, Palm Beach, Aspen and Maui

Answer 8

Well, how much?? And how old are you?

Usually it makes sense to consider which are your goals in life, considering a really large amount of money.

Answer 9

1) Don't lend it to anyone unless it's for some life-threatening situation.

2) Especially don't invest in an acquaintance's "great new idea".

3) Pay off some of your debt, especially credit cards and other high-interest accounts. Some loans, like mortages aren't such a bad thing to have, and paying those over time isn't so bad.

4) Save some money. CD (Certificate of Deposit) account rates are amazing right now. You can't withdraw the money for the life of the CD, but you'll keep earning the high interest rate even if rates lower before it ends. Some savings accounts are amazing too, like INGDirect.com, which offers 4.35% APY on simple savings accounts. (and if you want that, I can send you a referal and they give you $25 to start out with, and me $10, if you deposit at least $250). Also check out Citibank, TDBanknorth, and Bank of America.

5) Have some fun. Don't be afraid to use some of the money to buy that new thing you always wanted, or take a vacation, so long as you don't spend too much on that.

6) Remember that you still have to pay tax on your winnings, and don't start acting like a millionaire, or you'll lose your money and maybe even become poorer than you were before. Depending on how much you won, it may be wise to talk to a real financial planner to help you manage all this new money.

Good luck!

Answer 10

invest a good bit of it

Answer 11

Can I borrow ten bucks?

I'll pay ya back on Friday.

You know I'm good for it.

Answer 12

if you have poor and/or homeless relatives and have been  poor yourself make sure you have a good running car, preferably a hybrid so that you can always conserve on gas .fix your relatives up with good autos if they need them and put you all in a mansion or condominium type houses together so you don't have to live far apart anymore/or the future, maybe build something for poor people to help improve their lives in like a nonprofit place that sells donations. that's what i would do

Answer 13

save it, you'll become rich in the future

Answer 14

save some then treat your self to things you want.

Answer 15

Well maybe u should save it for something u want or if u have enough buy it

Answer 16

Spend it? Save it for use on the necessary bill that fustrated you before. If you wish to spend, buy some Treasury Bills and buy tons of Gold Bullions, EU, Yuan.

If you don't know, you should seriously do nothing.

Answer 17

Well first id know u would get a finacial adviser..Then pay off ALL the bills...Buy a nice car..House...Then leave the rest in to Live off the interest in the bank

Answer 18

Send some over this way!!

Answer 19

spend it on me dude

Answer 20

Pay off all your debts, go on vacation, then come back and help a struggling kid make it through college. That's what I'd do.

Answer 21

Send it to me immediately, that's the quickest solution. Look at all the headaches it will prevent.

Answer 22

by yourself something nice

then spend the rest on me!!

Answer 23

go buy yourself something nice. You deserve it! :)

Answer 24

Put it in a Roth IRA in growth stock mutual funds.

Thank me in 40 years.