if you win the lottery...
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Thread: if you win the lottery...

  1. #1

    if you win the lottery...

    what will you do?

    let's say, for the sake of argument, that you won $10 million
    here's a worthless bit of info: if you banked $10mil @ 1.5% intrest, you would make approx. $12,500/month
    another worthless bit of info: a 1-year RBC GIC, with intrest paid at maturity is 2.5% on anything over $1mil. (that's $20,833/month, but you don't see it for a year...)

    personally, i'm hoping you buy me a sportbike...

    as for myself
    1) $1 million divided up between my aunts, uncles, and grandparents
    2) $1.5 million to my parents/siblings
    3) $1 or 2 million over time to charities
    4) $4 million banked
    5) $16,000 (approx.) into a new bike & gear
    6) $10,000 (approx.) into a kick-ass computer
    7) $15-$20,000 (approx.) into my car ('86 Camaro Z28)
    8) place to live
    9) school
    10) etc...

    [edit]11) buy one or two people on here bikes, just to be nice...[/edit]
    Last edited by nuvan; 12-30-2002 at 02:39 AM.

  2. #2
    Je ne suis pas Francais Array nutcracker's Avatar
    Join Date
    Apr 2002
    none at the moment
    you won't find me generous but :

    1) nothing to my aunts and uncles
    2) 2 million between my parents and brother and sister
    3) I don't beleive in charities so nothing to them
    4) take 500 000 for a year to buy some stuff
    5) the rest in the bank and live off the interest
    6) buy many bikes and many cars
    7) etc...
    2010 can't affort a bike anymore
    2006 Husqvarna 610SM
    2004 VFR
    2003 R1
    2002 KTM LC4
    1998 ZX6-R
    I'd rather be scared to death than bored to death.

  3. #3
    Vicious Little Tree Rat Array squirly's Avatar
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    Jul 2002

    nice to be dreamin'...

    1) I'd take care of all my bills to start off.

    2) Throw a huge party at my new Yaletown pad, where at the end of the night, friends would be encouraged to take a bundle of cash home from the pile at the door as you leave. But if you take too much, you won't be invited back for subsequent parties, when I give away other things (e.g. bikes, cars, trips, etc.).

    3) Take care of my family; make sure they never have to worry about money ever.

    4) Treat my gf.

    5) Benelli Tornado, Aprillia Mille, Ducati 998, Ferrari 360, Porsche Turbo and Volvo Cross Country for ski trips. And, a Harley for my mom ('cause she always wanted one).

    6) Take several planeloads of friends to Vegas (and you all know who you are!).

    7) Stick some money in a trust fund to continually donate to charities from the interest accrued, hopefully enough to offset some of the income tax I would have to pay.

    8) Whistler retreat big enough to have lots of my friends come by and use it whenever they want.

    9) Box at GM Place, so that all you Canuck crazy bastards can come and watch a game and have a brew, there should also be ample parking underneath the arena - I hate finding parking there!

    10) Learn to fly an airplane, a helicopter, sail a boat (so that I can race in the America's Cup), cook.

    Last edited by squirly; 12-30-2002 at 08:16 AM.
    Good Luck and Godspeed!

  4. #4
    Registered User Array KawasakiCutekid's Avatar
    Join Date
    Sep 2002
    On the road
    OH YEAH!
    I am a greedy guy....
    I will buy house, car, and new bike.
    give some to the family...
    do some travalling...
    and invest the rest of the $$$
    BCSB # 908

  5. #5
    glowing ghostie! Array gordopolis's Avatar
    Join Date
    Mar 2002
    I have kids
    Sheesh, no one's said anything about quitting their job !?

    Here's my TO DO list:

    [list=1][*]pay off my debts[*]pay off my immediate family's debts[*]pay off my closest friends' debts[*](probably) quit my job[*]buy a nice place to live -- with a garage![*]go back to school?[*]do volunteer work?[*]invest the rest; it should be enough to last the rest of my life if it's managed right[/list=1]

    I'm not big on giving wads of cash to people; I'd rather get them out of debt. And for my kids and my relatives' kids I'd create RESPs.

  6. #6
    Registered User Array Xander's Avatar
    Join Date
    Sep 2002
    Lower Mainland
    2000 R6
    I love these kinds of questions! Maybe it's because I think about this scenario all the time.

    1) Immediately fly down to Vegas w/ close friends and fam, 1st Class of course, stay at either Ceasars' or Mandalay for a few days to celebrate and contemplate how to spend the money. (Considering I've already thought this out, it's really just to fly down to Vegas and be a high roller for a few days)

    When we get back...

    2) $5M deposited straight into the bank:
    - @ 1.5% interest, annual income = $75,000 before taxes
    - after taxes (~45%), net income = $41,250

    3) $2M to be given to family and friends as either:
    - cash
    - BIKES
    - cars
    - homes/mortgage payoffs

    4) The rest buys:
    - a house (must have room for cars/bikes/workshop)
    - BIKES
    - cars
    - golf home in Palm Springs
    - and anything else I damn well want!

    In terms of the material possessions, I want to be livin' large, but not LOOK like I'm livin' large...know what I mean?

    As far as my annual income after taxes is concerned, I don't currently live in the upper echelon tax bracket so my calcs may be way off. But I figure that since the major expenses like the house, bikes, and cars will be paid for in cash (i.e. no monthly loan payments), then $40K+/year would allow us to live comfortably.

    Any financial planners out there? Given today's interest rates on investments, would it be better to pay cash up front or finance the big purchases?

    Oh yeah...I'd also quit my job!

  7. #7
    fat old bastard Array mess's Avatar
    Join Date
    Apr 2002
    beside Dizzy
    Big fat 1400cc pig XR650Rtard
    world domination is expensive
    its too small a prize here,
    we need something like the powerball lotto they have in the states.
    just think of the mischief you could get into with 300 million in the bank

  8. #8
    Moderator Array Harps's Avatar
    Join Date
    Mar 2002
    A couple of Suzukis
    Originally posted by Xander
    Any financial planners out there? Given today's interest rates on investments, would it be better to pay cash up front or finance the big purchases?quit my job!
    Trust me guys...if any of you walk into a bank with a cheque for $10,000,000 you'll be getting a lot more than 2.5% on your investments. Bankers will be happy to bend over backwards for you. As for borrowing vs. investing, it's called leverage, and it depends on who you're borrowing from, and what you're investing in. For example, my parents bought my sister a new car last year (damn her! ) and the financing rate was 0.9% from Toyota...rather than use any of their savings or investments they just borrowed the whole amount. They were getting a better return on their investments than what it cost to borrow the money for the car.

    Nathan...you just won $10,000,000 and #7 on your list is to put $20,000 into your '86 Camaro? Classic. Let me guess...you're gonna have another $10,000 go into your old Hyundais that are sitting at your parents' house.

    For me:

    1) Pay off my debts, and my family's debts

    2) Buy myself a couple of properties...a condo downtown, and a house out near UBC.

    3) Buy my mom a new house, and my dad a restored 240Z & 350Z...and send them travelling.

    4) Of course buy the requisite cars...maybe an M5 for the commute, and a Toyota T100 to transport the track-bike.

    5) Put maybe $15,000 into my Citroen DS21 to get it back in tip-top shape.

    6) Rally car???

    7) Buy a few bikes: RS250 race-bike, Husaberg supermoto, Road King for touring, Ducati 998 for posing...

    8) Quit my job, and finish school more comfortably.

    9) Start my own business? Get some (rich) partners together and start a Venture Capital firm.
    Maybe Mediocre
    BCSB - I hate you

  9. #9
    Administrator Array adamantium's Avatar
    Join Date
    Feb 2002
    I wish.
    10 million. Wow.

    I love these questions too, as I need to have it planned for when I do when and need to make some quick decisions - and perhaps I woudln't think quite right when I got it.

    So first off, 1/2 in the bank. 5 million, gone.

    1 million into a new home, including furnature, entertainment system (read 'Theatre room'), pool, yada yada yada

    1 million to family

    500k to the SPCA, spent soley at my discression (I've read many issues with some of the higher ups getting paid WAY too much for what they do).

    and another 500,000 to friends, trips, etc..

    The other 2 million would be split between my wife and I, and we would be free to do whatever we wanted.

    So my million would go:

    2003 BMW M5 (aprox. $110k)
    2003 Ducati 999 (aprox. $30k)
    2003 BMW X5 4.6i (aprox. $100k)
    2003 Suzuki DRZ400 (aprox. $8k)
    2003 Yamaha R6 (aprox. $13k)
    1981 Honda Civic (aprox. $200)
    I always thoguht it would be funny to have a really nice house and some nice stuff and put a piece of shit out on the front lawn on bricks. As it turns out this car was the first car I ever owned.

    And the rest, I'd have to think about it - probably get into some new hobbies.
    BCSB- Administrator

  10. #10
    Rageaholic Array Jayson's Avatar
    Join Date
    Jul 2002
    Canon 1ds3 1d4
    adam... you should just have them throw the civic in when you buy one of them cars, they will be more than happy

  11. #11
    Moderator Array spinko's Avatar
    Join Date
    May 2002
    tiz Red.
    Things I would do with $10m.

    1) Quit my job
    2) Talk to several investment planners.
    3) Pay off detbs and debts of family members.
    4) Buy a house with a rather large garage.
    5) Buy bikes of all flavour.
    6) Race motocross.
    7) Build the 1937 Ford Cabriolet that I have always wanted to.
    8) Live off the inrest of what is left.
    BCSB- Moderator

  12. #12
    BBQ Squadron Member Array Dark()Knight's Avatar
    Join Date
    Jul 2002
    BatCave in Van
    Decisions decisions decisions....
    Live in the Bahamas... 1% tax rate....
    Travel the world....
    Take care of family n friends...
    Live life simply and comfortably.
    Be Happy for this moment.... This moment is your life.

    It is not about Anger,
    It's about Peace.
    It is not about Power,
    It's about Grace.
    It is not about knowing your enemy,
    It's about knowing yourself.

  13. #13
    oh man.....
    give part of it to my parents to pay off various bills and what not, and like 250grand each for being my parents after all these years so they can retire early and have fun...

    then its on to the rest of my family, who'll get a cool 10grand each, because i say so...

    and whats left goes to me.
    Nice house, a bike or two, and an rx7, supra, lambo, and ferrari.

    oh and something for:
    yamaholic, jayson, and a few other lucky people i've met here on the boards.....

    and if i have any money left, it'll go into the bank

  14. #14
    bastardizer Array HotWheels's Avatar
    Join Date
    Sep 2002
    none, till the boys are older
    I don't want to think about it.
    It's not going to happen, and if it does I'll be happy to have a panic attack trying to figure out what my next step would be.

    that world domination thing sounds interesting. Too expensive though. Maybe I'll buy a small town in the States for 1.1 mil on ebay.

    Really though:
    All the debt paying and friends taken care of thing is a given.

    I'd also buy a huge chunk of land and build a world class race track on it. Just so we don't have to set up cones in a parking lot. It'd have a 10 storey tower in the middle for spectators and 5 star dinning facilities with beer in the water fountains and an unlimited supply of honey roasted peanuts. There would be big screen TV's everywhere you'd look. Strippers on 1 floor and male strippers for the ladies on another. And it would have a full stable of almost everybike on the market.

    Not that I thought of it or anything
    "...than I'll be done and we can dance.."

  15. #15
    01000110 01010101 Array orbit's Avatar
    Join Date
    Jul 2002
    XR650R Sumo
    1) Change my name.
    2) Hide.

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