I won Last Night’s Power Ball

powerball

Sadly, I did not win… because in order to win you have to play. This I did not do. But, it did spark up a conversation last night between me and Sarah. And you know you have all had it. What would we do with that kind of money? A lot of people say they will donate to charities or create organizations that would empower a small third world community to become a staple for the people. Others say they would make wise investments. Some even go so far as to say nothing about their lives would change and that they would continue to live in the same old house, just merely debt free.

Well, I have thought long and hard on it and surprisingly my answer is and has been the same since the days of my early 20’s. No, I don’t know what I would do if I won 1.5 billion dollars, because let’s face it… most people don’t even know what that looks like. But, I can say with absolute certainty what I would do with 1 million dollars.

And here it is:   

An average home for lower to middle class society right now is $150,000. With the aid of a lawyer I would sit down with my immediate family. This is my in-laws, parents, and siblings diving up $900,000 between 6 homes for the use of paying off, renovating, or purchasing a new house. That is $150,000 each including myself. So, I just paid off a huge chuck of financial burden for 6 families. This leaves me with $100,000 dollars. The average basic car these days is between 27,000 and 30,000 dollars. I would by two. One for me and one for Sarah. With only $40,000 left that money would be put into a saving account and would then only be spent on emergencies, and yearly taxes. I would still work, but with less of a burden on not only myself, but on those closest to me.

In Short:

$150,000 to 6 family Homes – $900,000

$30,000 for 2 new cars – $60,000

$40,000 – Saving account

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2 thoughts on “I won Last Night’s Power Ball

  1. With a Million Dollars I would throw it all into savings accounts. I did the math recently and looked up some of the best savings accounts. The top interest I could find was 1.11%. This is just a savings account not a CD or anything fancy like that because I honestly don’t even know what that is. Anyways with interest on a million dollars it would come out to 11,100 a month, and 133,200 a year. That’s more than a livable income.

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