Let's say I win it in the lottery. So there it is- the winning ticket in my hand. The very first thing I'm gonna do is get a lawyer. I want papers drawn up preventing my name and information being released as a lottery winner. Oh yes, I am not going to have people banging at my door asking me to invest in their electric sponge idea.
Then I'm cashing it in for one lump sum (I know I can get more in the long run if I take it in payments, but screw that, I just won millions, I'm taking it lump sum and running with it). There it is! $30 million dollars.
Money money money money money.
Next, I pay off every scrap of debt I own. All of it. Tim's student loans, both cars- bam, done. It's a drop in the bucket, it barely dents in to my $30M.
Next? I pay off my Dad's house and then buy him another, with lots of land. He can rent out the other one or burn it to the ground, I don't care. Then buy him a new truck. Then a cool million goes in to the bank in his name. Bam. However, it's with the caveat he does not pay off my brother's stuff. The brat needs to grow up (yeah I am still bitter. Even with my millions.) I'd pay off a hunk of my mom's existing debt, then she's on her own.
Next, I pay off my in-law's house and toss them a cool million as well. I get along really well with Tim's parents. I know, it's weird to me too, but I'm lucky.
Now let's see... I still have a good $27 million dollars. Time to go shopping...
... for a house of course! I pick out a beautiful set of property, I'm thinking 50 acres minimum, then I custom build a home for it. We're probably looking at a million dollars by the time I'm done. Most of that will be in land costs, but let's face it- the economy sucks and I'll be paying cash. I expect a very good deal to be made on the acreage (in fact, I already have it picked out! Buwahaha).
Then let's see. $100,000 in a fund for my sister-in-law, that she can't touch until she is 30 years old. Buwahahaha, I am evil, but it will give her some valuable real-life experience.
I've also got some friends I'd like to help out- trips, buying a few nice things here and there, helping out with *some* debt- that kind of thing. However, I would have to say it would be hard to know your true friends if you came in to a lot of money and I definitely wouldn't be accepting applications for new ones! :)
Now that I've walked you through my spending of a good 5 million dollars, I won't bore you with investment strategies, or of the descriptions of the massively wonderful vacations I plan on taking. Nor will I bore you with barn designs, horses, etc.
Yeah, definitely need to start buying those lottery tickets!