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Old 12-21-2021, 11:38 AM   #1
Abu_dude
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Default So you won the lottery...now what?

I was sitting around a fire a few days back and the conversation started. I'm not talking about hitting the $350+ Million Powerball here. I'm talking more like $10 Million state lottery.

What would you legitimately do from the start? Everyone says a new truck or house...think deeper.

Pay off your bills?
What about your closest families bills? Parents? Kids? Closest friends?
Land? Recreational and/or Commercial?
would you invest?
Donate to a cause?

I always said id love to own around 300-400 acres. A place just for me, my dad, and my brothers to hunt. Id like to buy somewhere in the Harper/Fredericksburg/Cherry Springs area (where I'm from). Would also fence off 5 acres and build a house for my best friends little family (my god children). They live in that area and have struggled though the years so id like to provide them with some stability.

Would be awesome to see this dream realized for someone from this community one day!

oh, don't forget to buy your tickets for tomorrow!

Last edited by Abu_dude; 12-21-2021 at 11:41 AM.
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Old 12-21-2021, 11:49 AM   #2
piercebronkite
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1. Consult my lawyer
2. Consult with my financial advisor

After those two things are done then I would look at land in Texas and out.
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Old 12-21-2021, 11:50 AM   #3
BrandonA
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After Taxes you will receive somewhere around 6 million. I would pay off all my bills and invest the rest.
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Old 12-21-2021, 11:54 AM   #4
deerslayer64d
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10 mil - taxes
500 acres Fredericksburg
House
Dang near back to where you were before you won


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Old 12-21-2021, 12:00 PM   #5
flywise
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Keep my mouth shut around family and most friends.
I’d have a fully restored 1972 Blazer, and probably 150acres
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Old 12-21-2021, 12:08 PM   #6
SabineHunter
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I'd take half and spend it on booze and partying and just blow the rest
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Old 12-21-2021, 12:11 PM   #7
MadHatter
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Set myself up with a off grid place in the middle of the Bitteroots and leave society for good.
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Old 12-21-2021, 12:16 PM   #8
Rick
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i would likely look for a couple hundred acres, other than that i would not change much. Pretty happy with where I am, but i would like to have some land
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Old 12-21-2021, 12:16 PM   #9
AntlerCollector
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Buy land and lots of it
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Old 12-21-2021, 12:16 PM   #10
LWC
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Quote:
Originally Posted by SabineHunter View Post
I'd take half and spend it on booze and partying and just blow the rest
Don't lie.....you'd get a new yellow corvette
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Old 12-21-2021, 12:20 PM   #11
Pineywoods
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Quote:
Originally Posted by AntlerCollector View Post
Buy land and lots of it
Yep
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Old 12-21-2021, 12:27 PM   #12
jshouse
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Quote:
Originally Posted by AntlerCollector View Post
Buy land and lots of it
yes. probably a handful of places in different states.


home base would be in N texas somewhere, shackleford county sounds good
a nice whitetail farm in the midwest
a mule deer property out west
a duck place in arkansas
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Old 12-21-2021, 12:49 PM   #13
kevin nicholls
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That's easy. I'd buy an airboat and 5 gallons of premium gasoline and a brand new Zippo lighter. And I'd burn that noisy, mist blowing contraption to the ground. Oh and someplace to hunt.
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Old 12-21-2021, 01:01 PM   #14
RiverRat1
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Originally Posted by SabineHunter View Post
I'd take half and spend it on booze and partying and just blow the rest
Campaign money?
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Old 12-21-2021, 01:08 PM   #15
Txtourist
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I think it would be hard, but I’d like to raise my boys as best I could as we are now and keep it to myself until the right time. Money can really mess up a young person.
Finding that balance of sharing some great experiences and raising good people who can parlay opportunity into more opportunity would be my new job. My first roommate in college came from a cattle family that had previously owned and developed a lot of land in what became a very popular ski town in Colorado. His dad was a well known surgeon and he was basically taking finger-painting classes at a mediocre state college. My greatest fear would be seeing one of my boys not be able to make their own way as a result of my doings.
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Old 12-21-2021, 01:11 PM   #16
Quackerbox
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Quote:
Originally Posted by RiverRat1 View Post
Campaign money?



Me:

Step 1- get a new phone number
Step 2- park my work truck on the front steps
Step 3- buy land
Step 4- disappear
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Old 12-21-2021, 01:11 PM   #17
Jon Stewart
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Have a meeting with my church leaders and pay of the churches bills and make any repairs that need to be made.

I try to put our Lord 1st in my life.
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Old 12-21-2021, 01:22 PM   #18
bowhuntertex
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buy some land in West Texas, 10% to the church, and retire.
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Old 12-21-2021, 01:22 PM   #19
60 Deluxe
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We don't have any debt so I suppose that we would buy another ranch somewhere cool for a summer retreat and another place to hunt in the fall.
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Old 12-21-2021, 01:25 PM   #20
Saltyag15
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I'd invest $1M in the market
Buy a summer place at the coast or on a river
Buy a ranch in South Texas
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Old 12-21-2021, 01:34 PM   #21
BayouCat
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Land, cool toys, and enough left over to maintain all of it.
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Old 12-21-2021, 01:41 PM   #22
bloodstick
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It would be really easy in todays economy and the world we live in to just please ourselves and burn it on material things.

For me, i would have to donate some first. I.E. donate to missionary work, tithes, church repairs, etc. I don't want to look my creator in the eye and tell Him I had the means to help so many people and insisted on being selfish with a blessing that I didn't really earn in the first place.

After that, I would more than likely invest the rest and make money with that investment. Probably in real-estate after consulting a financial expert of some sort. Probably use the earnings to purchase a modest piece of land and home in an area we will some day retire. Maybe out west and just large enough I can hunt and maintain within means.
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Old 12-21-2021, 01:49 PM   #23
KDinTX
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Quote:
Originally Posted by piercebronkite View Post
1. Consult my lawyer
2. Consult with my financial advisor

After those two things are done then I would look at land in Texas and out.
This right here, and setup trust fund for my daughter and future grand kids.
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Old 12-21-2021, 02:01 PM   #24
Colton
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Quote:
Originally Posted by piercebronkite View Post
1. Consult my lawyer
2. Consult with my financial advisor
3. Delete all social media
4. New phone #
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Old 12-21-2021, 02:04 PM   #25
Take Dead Aim
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Cocaine and strippers.
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Old 12-21-2021, 02:08 PM   #26
Farmdog
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Buy some new equipment, spend remainder on fertilizer, farm till its gone, won’t take too long
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Old 12-21-2021, 02:10 PM   #27
Drycreek3189
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Quote:
Originally Posted by flywise View Post
keep my mouth shut around family and most friends.
Id have a fully restored 1979 bronco and 5,000 acres of land

fixed it !:d
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Old 12-21-2021, 02:10 PM   #28
D u s t y
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1 Get a good lawyer
2 set up a trust
3 invest 25 percent across a few things
4. Start buying investment properties with about 40-50% of what’s left
5. Buy a chunk of land and let the properties foot the bill.
6. Stay hungry and keep working
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Old 12-21-2021, 02:12 PM   #29
flywise
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Originally Posted by Drycreek3189 View Post
fixed it !:d
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Old 12-21-2021, 02:14 PM   #30
bowguy75
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dang someone beat me to hookers and blow
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Old 12-21-2021, 02:14 PM   #31
Jefecinco
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Quote:
Originally Posted by flywise View Post
Keep my mouth shut around family and most friends.
Id have a fully restored 1972 Blazer, and probably 150acres

I will remember this!
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Old 12-21-2021, 02:21 PM   #32
Jason Fry
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Yep, lawyer and financial guy. Debt free, then endowment/retirement funding, then land.
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Old 12-21-2021, 02:25 PM   #33
Hardware
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Get disconnected from the digital world and Disappear!!!
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Old 12-21-2021, 02:31 PM   #34
JHT
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I watched a show about lotto winners flameouts & successful stories post winning.

They all concur telling anyone you won is the biggest mistake you can make.
Lay low while the store who sold the ticket gets all the press.

Make a game plan later on down the road and if you just can't wait to buy something big always goto Vegas the week before & say you won the money there.
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Old 12-21-2021, 02:58 PM   #35
Bucknaked
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Lawyer- trust
Tithe
St. Judes
Family
No land or homes in this country because it won’t be long until the government steals it from us!

I would probably add a bunker real quick!
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Old 12-21-2021, 03:00 PM   #36
Bullseye07
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Quote:
Originally Posted by Jon Stewart View Post
Have a meeting with my church leaders and pay of the churches bills and make any repairs that need to be made.

I try to put our Lord 1st in my life.

A lot of churches would not accept winnings from your gambling(which the lotto is). Mine would turn it away.


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Old 12-21-2021, 03:07 PM   #37
Bucknaked
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Quote:
Originally Posted by bullseye07 View Post
a lot of churches would not accept winnings from your gambling(which the lotto is). Mine would turn it away.


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🤣
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Old 12-21-2021, 03:19 PM   #38
flywise
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Quote:
Originally Posted by Jefecinco View Post
I will remember this!
I said MOST of my friends
I'd still take you and Goon on a Moose hunt
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Old 12-21-2021, 03:22 PM   #39
Jefecinco
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Quote:
Originally Posted by flywise View Post
I said MOST of my friends
I'd still take you and Goon on a Moose hunt
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Old 12-21-2021, 03:24 PM   #40
BigL
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Lots. Lots of whiskey and women.


Serious answer is hire attorney and tax consultant. Since after taxes probably would get about 6MM, I'd talk to a financial advisor about something like putting 4MM into a bond ladder with bonds that pay 3-4% if any exists, especially muni bonds where I get the tax advantage and can get around 120-150k per year.

The other 2MM I would probably buy a 50-100 acre track of land in the hill country, build a barndaminion on it, buy cattle for the tax breaks, etc. and live debt free with fixed income coming in and and not have to touch the rest. I may work 4-5 (max 8 to when I turn 59 1/2) more years and reinvest the money from the bond coupons and increase the amount I have in the bond ladder which will increase my monthly income stream in retirement.
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Old 12-21-2021, 03:26 PM   #41
Diamond07
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-Pay off high interest debt
-healthy down payment on new homestead in a good school district
-invest the rest in real estate
*treat myself to a boat and a couple APRs once I’ve invested a big chunk
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Old 12-21-2021, 03:29 PM   #42
MadHatter
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Quote:
Originally Posted by Bullseye07 View Post
A lot of churches would not accept winnings from your gambling(which the lotto is). Mine would turn it away.


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The church I grew up in would as well.
One of my friends won a brand new dodge truck off a coke bottle top in the late 90s and that bottle top went straight in the trash .
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Old 12-21-2021, 04:49 PM   #43
dustoffer
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Tithe, tax, family, friends, and buy me a place to hunt.
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Old 12-21-2021, 04:55 PM   #44
M16
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Throw it in the pile with the rest of my money.
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Old 12-21-2021, 05:07 PM   #45
sailor
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I'm already debt free.
But, I'd be really hard to find.
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Old 12-21-2021, 05:35 PM   #46
MLank
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1. Done working.
2. Look for a place to live that the kids can have a good school, and be involved in plenty over the next 18 years, yet easy to get away and do fun things.
3. I wouldn’t straight up buy my own land yet, but I’d be going on lots of hunts per year. All the while pondering where I wanted a ranch.
4. As for relatives? My brother would benefit and want for nothing Bc he and his kids would be along for the hunting on my dime.

Last edited by MLank; 12-21-2021 at 05:37 PM.
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Old 12-21-2021, 06:54 PM   #47
whitetailfanatic
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Lawyer
Pay off all our debts
Buy a small place in the country
Give each of our 2 children 2 million
Donate to St Jude, Shriners
And I Always say I’m buying the person who sold me the ticket a new car!

Last edited by whitetailfanatic; 12-21-2021 at 06:59 PM.
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Old 12-21-2021, 07:01 PM   #48
rwurz
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Quote:
Originally Posted by Quackerbox View Post



Me:

Step 1- get a new phone number
Step 2- park my work truck on the front steps
Step 3- buy land
Step 4- disappear
This is spot on!!
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Old 12-21-2021, 07:18 PM   #49
Katch66
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Quote:
Originally Posted by deerslayer64d View Post
10 mil - taxes
500 acres Fredericksburg
House
Dang near back to where you were before you won


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All except the means to pay the taxes.
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Old 12-21-2021, 07:23 PM   #50
hopedale
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So after I won and got the check minus the Federal Mofia's cut, I cut a check to my Church. Next check would go to my kiddo's private Christian high school.

Current home immediately get's paid off, as well as, any other bills we have.

A few non-taxable cash gifts to close friends.

For a long term investment, I'll be looking at cattle ranches and anything else that has my interest that could be revenue generating.

Given I don't people to hound me for money, I'll take all my closest friends to Vegas. First class flight, hotel, but on the way back everyone is coming in on coach. Will give everyone a personal note I lost it all, but was a good time.

At that point I'd live my life as the millionaire next door.
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