If you won the lottery... Say $10 million...

Give to charity - 0%
Give to family - 0% (Family? What family?)
Give to church - 0%
For me to spend on myself as I please - 100%

One of the things that will please me is a 1966 Ferrari 275 GTB with the all aluminum body and 6 carb engine. And a Lancia Stratos.
 
I would become a local philanthropist, finding those in need and giving something to make their life a little better. Donate to local charities that I know are good. I would want to improve my community. I can't say a percentage, it would just depend. I would save a couple of million just for my retirement. I would throw a big Texas barbecue, gun show and fish fry for the S&W Forum. I would buy Bill Cross' snubby 29-2, and .45 Colt HD, and probably a few more.
 
I would select two or three very good investment advisors, make sure they know that if I don't make money they don't make money, then watch them scramble to keep the bucks flowing as earnings on investment. Over the past 10 years my guys have averaged a bit over 7% annually.

The tax hit on $10 million would probably be about 30% or so, leaving about $7 million to invest. At 7% per annum that would result in about $490,000 annual income. At about 30% for taxes there would be about $343,000 left per year.

I would budget $100,000 per year for a personal assistant to handle all of my correspondence, take all of my phone calls, and keep every single person looking for a handout far away from me. The remaining $243,000 per year would make a very comfortable life; maybe not the way really wealthy people like to live, but way more than enough for me to do everything I want to do, including a little something for the kids and grandkids along the way.

The keys would be good money managers and a pit bull of a personal assistant.
 
Well...I would finally buy that place out in the country, fenced in, of course, with the killer Malinois dogs running around inside. A huge sign on the gates stating "If you haven't called, you are not expected. If you are not expected, you are trespassing". And I would DEFINITELY pick up some rare 3rd Gens.
 
LoboGunLeather said:
I would budget $100,000 per year for a personal assistant to handle all of my correspondence, take all of my phone calls, and keep every single person looking for a handout far away from me.

The keys would be good money managers and a pit bull of a personal assistant.
Click to expand...

I will do it for 90,000 and already have my own brass knuckles.
 
Arik said:
Is it 10 million after everything is said and done or 10 million initially? Because if it's 10 million initially then you get to keep about 40%

Pay my parents house off, mine, help my sister if she needs/wants. Buy a vacation house/land in the mountains. One vacation property in Holland. The rest in booze and women! :)

But seriously the rest will go into the bank. Probably look into some kind of investing whether it be stock or brick and mortar business. If I do donate it would be to some sort of a military charity but one I'd have to research thoroughly, not just cause they are on TV and have famous spokesmen. And an animal shelter.

As to guns. ...I'll buy out ALL the 22lr so the posts and conspiracy theories never stop! :). Not sure what I would buy. I'm not much of a collector and have most things I need/want. I would like one FA but don't know what I would get since I don't want to spend $10k on a firearm
Click to expand...

10 mil after taxes...
 
I dont want to win that much

Federal taxes would take a big chunk, and the rest would be spent defending the lawsuits from all your "friends" that claimed you told them you would share.

$10,000.00 on a scratcher would do me just fine. :)
 
I'd buy a little condo on Kauai and live out my days watching the sun set into the Pacific while sipping on a Mai Tai with a little umbrella.
 
New houses for myself & the wife, and my two sons.

Rest would go into income producing balanced funds. The yearly profit would be the play money, and then the boys could inherit the principle when we pass.

As far as charity goes, since the gov't already took millions in taxes off the top before I was left with the 10 Million, and gave it a bunch of people I don't know, I'd call that even.

Family? Probably not; once you started down that road they'd bleed you dry, resenting you the whole time.
 
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chaparrito said:
True story. I knew a guy who won a million dollars in the early days of the Arizona Lottery. Here's what the genius did:

Quit his long time well paid federal job
Made down payments on three new vehicles including a snazzy Jeep for his 16 year old daughter.
Made down payments on a houseful of new furniture and appliances, TVs and stereo stuff.
Got hit up by his no account relatives for pretty much all of the rest of it.
In less than a year he was broke, his credit trashed and jobless.
Click to expand...

Similar experience happened here to friends of my wife's family. They won $12 million in the TX lottery. Went nuts and bought everything in sight on credit. Fancy trucks, boats, every toy you can imagine. Less than two years later they filed bankruptcy and lost it all.

Giving people who've never had it big money without an education in how to use it is worse than flushing it down the toilet. It causes more problems than it solves.

Fortunately, I don't have that problem. It is fortunate, right? :confused:
 
Would buy a condo in Florida for the winter and get out of this stinkin Northeast for a while.
 
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