Winning the lottery

Winning the lottery

Sometimes, I get into the mood of day dreaming about winning the lottery. Anywhere from winning the 50,000,000 dollar LottoMax jackpot to a 100,000 dollar 649/BC49 6 plus bonus number match up. My general fantasy looks like this:

$50,000,000
Priority 1: Pay off the house mortgage: $180,000
Priority 2: Pay off my family’s debt: $40,000
Priority 3: Buy my dad a new SUV: $40,000

Left over: $49,740,000

Then it goes like this:
5,000,000: Goes to my brother.
1,000,000: Buy a small piece of land in Schonberg, build a cozy 4 bedroom home there with an art studio and whatever is left over, put into an account that Amber can use.
1,250,000: To buy a 1000sq ft apartment for my 3rd eldest aunt and her husband.
1,250,000: To buy a 1000sq ft apartment for my younger uncle and his family.
4,000,000: Split between 6 aunts and uncles on my mom’s side and 2 aunts on my dad’s side.
3,000,000: Split between 6 of my married cousins.
1,000,000: For Christina.
1,000,000: For my mom’s best friend.
1,000,000: On various gifts to my other cousins, relatives and family friends.
4,000,000: Split between 8 of my closest married friends.
3,000,000: Split between my other closest friends.

Left over: $24,240,000

Others:
1,000,000: Into a 2000 sq ft house in Richmond for my parents..
1,000,000: Into another 2000 sq ft house in Richmond for myself.
1,000,000: Into miscellaneous things between my parents and myself.

Left over: 22,240,000

Non-Profit Organizations:
1,000,000: Split up into various selected charities.
3,000,000: Put into a GIC account to earn interest. The interest will be used to donate to various charities every year.
1,240,000: Create my own foundation that helps local drug abuse and homeless.
1,000,000: To create a program for the foundation that teaches people how to ease off drug use.
5,000,000: Put into a GIC to earn interest to fund the foundation.
1,000,000: Create another foundation to help the local children of low-income families realize their dreams in sports, arts, theatre, etc.
3,000,000: Put into GIC to fund the foundation.
500,000: Into my own stray pets shelter.
1,500,000: To fund the shelter through interest from GIC.

Left over: $5,000,000

With the remaining 5 million dollars, I would put that into GIC’s and use the interest to fund my yearly needs and other expenses.

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What a nice fantasy eh? ^_^

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Now let’s look at something a lot less extravagant:

$1,000,000
Priority 1: Pay off the house mortgage: $180,000
Priority 2: Pay off my family’s debt: $40,000
Priority 3: Buy my dad a new SUV: $40,000

Left over: $740,000

Then it goes like this:
100,000: Goes to my brother.
250,000: Split between my relatives and friends through gifts, etc.
30,000: Goes to Amber.
40,000: A new SUV for my dad.
30,000: A new car for myself.

Left over: $290,000

Others:
150,000: In my chequing account to continue to give monthly allowances of $1200 to my parents.
50,000: Into miscellaneous things between my parents and myself.

Left over: $90,000

Non-Profit Organizations:
20,000: To various charities.

Left over: $70,000

With what’s left over, I will put it into my GIC savings account at ING.

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And if I ever win $100,000…

10,000: Goes to my brother.
5,000: Goes to Amber.
15,000: Gifts and stuff for my friends and relatives.
5,000: For various charities.
30,000: For a new car.
10,000: Renovate the house, replace some furniture.
12,000: Goes to one year allowance of $1000/month to my parents.
10,000: Goes to my savings GIC.
3,000: Goes to see Amber.

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And that’s that. ^_^

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